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 phone 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 Kulvig, phone and CEO of the Haven Financial Group.
Thanks for listening. We have Kyle Thomas, a certified financial
planner on the Haven Investment Team, on with us today.
Kim and we had a lot to talk about how
to manage financial uncertainty, and it seems like there's all
kinds of uncertainty and there's something new in the news
(01:16):
all the time. So listeners feel free to give us
a call at six one two five zero four eight
four zero zero or visit us online at Havenfinancialgroup dot com. Kim,
great to be with you.
Speaker 3 (01:27):
Great to be with you as well, Larry, you know
it is so interesting and Kyle, great to have you.
Thanks for being a part of the show today.
Speaker 4 (01:33):
Yeah, no, thank you.
Speaker 3 (01:34):
You know, guys, wouldn't you say that when we get
to the end of twenty twenty five. You know how
they always look back and there's certain words that describe
the year. I think uncertainty will be one of the
words that is used for twenty twenty five. You know,
we started with a new administration, then immediately we got
into the whole issues of tariffs. Now tariffs are on hold,
(01:56):
but we don't know if in fact they are going
to take place. We just all feel very uncertain and
that can make I think, for emotional decisions and can
also make people walk the floors at night.
Speaker 2 (02:10):
Larry, Oh, I'd agree. I think you're one hundred percent accurate.
We're going to look back and you know, inflation is
still looming. It's top of people's minds. Their pocketbooks are hurting,
markets are swinging in every direction, up and down, and
one minutes it's crashing, next it's all time highs. Well,
what really is it? You know, job and unemployment data
looks good, but then why are people so worrisome about
(02:33):
what's going on? So again, there's always new headlines, and
we're going to talk about some of the things that
we can do on the show today to try to
alleviate or give you confidence into what you're doing, whatever
your plan is. And again, you need to start with
a plan, and that's I think a good place to start.
Speaker 3 (02:51):
Well, let me just ask you guys, you know, what
is the role that you're playing with some of your
clients in this time that is uncertain and then coming
in and they're asking a lot of questions And I
would imagine Kyle Summer even coming in and saying, should
we change our plan?
Speaker 2 (03:06):
Yeah?
Speaker 4 (03:06):
There are questions like that, and there are there are
questions about allocation, there's questions about there's sustainability and retirement.
It's a wide array, but most of the time, it
doesn't necessarily revolve around the investment allocations because we from
the very beginning try to set up what the plan
(03:29):
is that we and the clients are both aware of
that plan and it's something that we're going to stick
to for a long time. So yes, every once in
a while there are questions about that specific thing, but
most of the time, because we set that up from
the very beginning, any questions that we receive are are
we going to be okay? That's what it's centered around.
(03:51):
And some of the biggest things that that we do
as advisors is behavioral coaching and managing emotions because that's
something that we're super powerful and impactful for these clients
on because you know, we have seen the studies and
know how people would react if they were to be
(04:14):
doing things on their own. And that's why people hire
us because you know, we're managing these things without that emotion.
We're completely taking that out of there, because studies show
that when you take emotion out of it, that's when
you can actually perform the best within your investments.
Speaker 3 (04:31):
Well, and I think you can understand why people can't
really take their emotions out of it. I mean it
is certainly an emotional thing. Your money is emotional for
you because it's your future. Let me back up for
just a second before we continue, though, to talk about
managing your emotions and talk a little bit about what
are some of the circumstances in these uncertain times that
(04:52):
maybe you would make tweaks or changes in people's investment
strategy or in their retirement strategy.
Speaker 2 (04:59):
Well mind, and you know, we're talking to folks that are,
you know, retired or planning for retirement maybe five years
or less. We're not limited in scope at Haven Financial
Group in any capacity, but that's really who we're speaking to.
So the element of time looms, they're on the cusp
of retirement, the paychecks might they might be stopping. Where
(05:19):
do we generate income from? You know, where we're going
to take money out of the market when the market's
very volatile, and that worries people, do I have enough money?
When am I going to run out of money? These
are all of the things that we address from the
very beginning when we're building out a plan for folks
that we sit down with. Yeah, I mean, you know,
everything from expenditures to the healthcare to all the things
(05:42):
that people worry about in retirement because up until this point,
if you've been working, you've had insurance through work, you
had paychecks going in. Now it completely changes, and you know,
you're now you're in the golden years, and now you
have to map out all these things that we're kind
of taken for granted all those years that you were working.
Speaker 3 (06:01):
How do you ensure and make your clients feel better
at night that they are doing the right things during
these you know, again uncertain times.
Speaker 4 (06:12):
Well, we stress tests everything from the very beginning, and
so we find out what kind of goals that the
clients are trying to achieve, and we stress that out
over thirty forty years into the mid nineties for their
life expectancy. Sometimes we go over one hundred and two
(06:33):
depending on genes and all that. But that's the biggest
thing because if we can stress that and test thousands
of different market cycles, inflation rates, and spending patterns, we
can come out to a very good estimate of that
success rate in retirement and being able to maintain the
(06:54):
lifestyle that they were living before retirement or what they
were planning to live in retirement, and that provides so
much comfort for them in knowing that if we have
a really bad market here, if we have eight oh
nine happen, you know multiple times, we're still going to
be all right in this situation. And you know, sometimes
there's success rates that are you know, seventy percent. But
(07:19):
that's that also means that if you have to adjust things,
you don't have to adjust those things for maybe twenty years,
you know, those last ten years and retirements where things
maybe get a little you know, wishy washy, But there's
also a seventy percent chance that you don't have to
adjust things. So, you know, finding out what kind of
(07:39):
success rate inside the plan and being in the green zone,
the confidence zone is providing so much comfort for people
that we work with.
Speaker 3 (07:48):
Yeah, those stress tests to me just seem like, you know,
once you know that you've your portfolio has been through that,
that's got to give you some peace of mind. If
these tariffs would take effect in the way that they've
been threatened, gentlemen, how might retirees be affected?
Speaker 4 (08:05):
So the tariff that's been the biggest conversation for the
changing financial world for this year. It was interest rates
for the previous few years, but now it's it's all
tariff based and there's so much uncertainty within those No
one knows how to price that in. No one knows
what companies are actually going to be forced to come
back to the United States, and no one knows what
(08:28):
price adjustments are going to be taking place.
Speaker 2 (08:32):
Now.
Speaker 4 (08:33):
I do expect, you know, some tariffs or some trading
to maintain, but the tariffs themselves will probably you know,
fade away over time.
Speaker 1 (08:43):
Here.
Speaker 4 (08:43):
We already saw, you know, over the last week the
European Union trade negotiations with the US is. It's looking
good and positive there. That's why the market jumped up there.
But there is going to be some implications and price
increases causing some inflation because once once prices go up,
(09:05):
they tend to not really come down, right, you know,
the people who are selling their product, the people got
used to that new price, so why would they why
would they bring it down because they're all about profits
themselves too. But there is going to be some inflation there,
and we are allocating specifically to Treasury inflation protected securities
(09:29):
that hedge against that. And there's also other products like
a fixed index annuity that can hedge against that with
having no downside and then upside potential linked to an
SMP index. So there's other ways that we can hedge
against any potential inflation. It's just a matter of finding
(09:51):
what kind of comfort level and risk profile, Uh, you
should have.
Speaker 3 (09:56):
Absolutely so, gentlemen. In the end, I think one of
the things that we established right off the top, though,
is that what people in these uncertain times really need
is a manager like you guys they're at Haven Financial
Group because you're taking the emotion out of it and
you're understanding why your clients feel so emotional about it.
Speaker 2 (10:17):
Most definitely, I think the secret here is that you
have a partner that you can lean on, probably more
so in these crucial times when things are volatile. That's
what we really strive to do with Haven Financial Group,
and we spend the time. I think clients would attest
that we're not in any rush. There's no quota as
to how many times we can get together. We want
(10:38):
to give them confidence into what the plan is, why
they establish the plan, and how we continue to monitor
it and modify it as life happens, because it doesn't
stay the same. You know, if there could be health circumstances,
there could be a whole variety of things and we
want to spend the quality time to give them that
(10:58):
comfort and the confidence. And that's what I find most
people are, Kim, are just not getting sure getting together
once or twice a year to talk for thirty minutes
to an hour for what you're paying. That's not the
attention anybody deserves. So you know, whether you're a level
headed investor or you know, the state of your financial
portfolio keeps you up at night, that's not good. We
(11:21):
want people to sleep good. Sometimes we call it sleep insurance.
You know, we want to put you in a position
where you're not ready to jump off the cliff every
time the market goes up and down. And that's done
by spending the time that you deserve. And most people,
KIM are just not getting it right.
Speaker 3 (11:38):
Well, if that sounds like something you'd benefit from, then
why don't you give the folks that Haven Financial Group
a call. The number it is six one two five
zero four eight four zero zero. That's six one two
five zero four eight four zero zero. Tell them you
heard us here on the radio. You'd like to set
up an appointment and go in and meet with the experts.
You can also check out their website. It's even Financial Group.
(12:01):
All right, still coming your way. The economy and the markets,
we have to tell you they are different, that is
for sure. And we're going to talk about how 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 ways, 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 Kolvig and Kim Karragan. Now back to
(12:31):
the show.
Speaker 2 (12:33):
Good morning, and welcome back to the Haven Financial Group
Radio Show. I'm Larry Kolviig, founder and CEO of the
Haven Financial Group, on with Kyle Thomas, certified financial Planner
on the Haven team and Kim. It's our ten year
anniversary again this year. We're very excited. We're approaching that real,
real soon here and we're expanding. We just added space
(12:53):
to for the third time and ten years, so we're
very excited to add more staff members. And I you
remiss to not give a shout out to my wife
who just had a birthday this week, Kim, so I
had I had to sneak that in there.
Speaker 3 (13:05):
Of course, to you.
Speaker 2 (13:08):
And we're in June. Now, can you believe that?
Speaker 3 (13:10):
No, I cannot.
Speaker 2 (13:12):
I know it. So it just needs to slow down
a little bit. But if you're listening, feel free to
give us a call six one two five four eighty
four hundred or Havenfinancial Group dot com. All kinds of
retirement tools, and there's a lot more tools out there,
projection tools and calculators and all that kind of good
stuff that you can play around with. So I encourage it,
(13:32):
and you know, especially in these volatile times, have a
partner you can lean on. You're gonna hear that several
times in this show. If you're listening and not getting
the attention, ask yourself, why aren't you? If you make
a phone call and you don't get a return call,
ask yourself, Am I in the right place or maybe
I'm not in the right place. So again I'm gonna
(13:52):
challenge listeners here a little bit today to pick up
the phone or pick up the phone and give us
a call.
Speaker 3 (13:58):
We'd love to visit absolutely Thomas of course with us
as well, a certified financial planner there at Haven. And
I'm gonna have Kyle start this segment out by kind
of explaining to everyone. When I was teasing this before
we went to the break, I said that in this segment,
we'd like to talk about the economy and the markets
and how they're different. You know, we can see, Kyle,
(14:19):
sometimes the markets go crazy and yet GDP can be lower.
So can you explain to our listeners maybe a little
bit about the difference.
Speaker 4 (14:27):
Yeah, So the stock market and the economy are They're
actually not correlated all too much. A lot of people,
I think a recession depends on how the stock market
is performing. But we could absolutely have a booming stock market,
but the economy is not in a great spot. So
(14:50):
one of the biggest definitions of a slowdown or recession
for the economy is two negative quarters of gross domestic product.
We had a first one in quarter one of this year,
so we'll see, you know, what happens in quarter two.
But there are a lot of indicators showing that things
(15:12):
are good within the United States, with you know, the
job security that that's kind of stayed in line with
what the FED is wanting to keep it at because
they have the dual mandate with inflation and then also unemployment.
Unemployments in a good spot. They're trying to have inflation
get to two percent before doing any kind of rate
(15:34):
cuts or anything. Right now, it's at two point eight
or as of last month. So that's a big driver
of the economy as well, because companies lend from banks
and that drives what kind of profits they have.
Speaker 3 (15:50):
Absolutely, I'm sorry, I was just gonna tak it. Let's
go back to inflation for just a second. Yeah, and
explain to people. I mean, I have you know, I
hear constantly reports about how gas prices are down and
it's getting better at the grocery store. We're not paying
quite as much for eggs. But yet you've just said,
inflation is not really where they want it to be.
Speaker 4 (16:10):
Yeah, exactly. So it's been well, it's been high for
the last couple of years. It's it's slowly making its
way down, but we're still at a point where it's
it's above where they want it to be. I mean,
it's it's close to fifty percent higher than where they
want it to be before they do any kind of
rate cuts. And remember, when when rates are cut, that
(16:33):
drives the economy. That that what makes people want to
spend money rather than save it, right, And it's it's
going to create more inflation by people spending money, because
once there's more demand for things, you know, price goes
up and all of that. So some inflation is good too,
(16:55):
not all inflation is bad. We do want inflation, actually,
we just don't want it at eight or nine percent
wherever it was a few years ago. We wanted at
that two percent because that drives sustainable economic growth without
prices going out of control, like how eggs went in
the last year.
Speaker 3 (17:13):
Larry. It's amazing how quickly it goes up and how
slow it comes down.
Speaker 2 (17:17):
It always is, you know, inflation isn't over by any stretch.
It's really shifted. You mentioned energy prices and goods and
maybe the grocery store and eggs. Maybe we've noticed that
they've come down, and they have. But if we're talking
services or insurance, man insurance has gone through the roof
with all the things that have gone on in this
(17:37):
world with fires and floods, and insurance is just through
the roof, and that's eating away at people's budgets. Housing
continues to be extremely high, mortgage rates have come down
a little bit. All these things affect people's budgets, and
a budget is so important, especially for retirees. You know,
we always preach to the younger generation and when they're
young to develop a budget, but most retired Americans are
(18:00):
on a fixed income and if it starts getting eroded
by this inflation, which it has been, and depleted savings
accounts and so forth, that's where we really see people
feeling it and their retirement getting affected. And that's why
we like to always say, you want it a good
amount of liquid funds, a good balance between liquidity stock
(18:21):
market investments and fixed income or principle protected investments, so
you can adapt to these volatile times.
Speaker 3 (18:29):
Sure, I think what we're proving in this segment of
the show is that Wall Street and Main Street are
not necessarily directly correlated. I think that's what you guys
are saying.
Speaker 4 (18:38):
Correct, Yeah, that is absolutely correct. And also one thing
that to note, sometimes recessions aren't really known about until
after they happen. So there's some cases where we look
back after a few months and say, oh, that was
a recession, and the stock market could absolutely be going
(19:02):
bananas at that point, and so they're they're not correlated
at all. Uh. The stock market is completely driven off
of what the perception is of of the tariffs right now,
just like when the the announcement for well multiple tariff
scenarios being you know, delayed or pushed out drove the
(19:24):
market up dramatically. That's that's completely driving it right now,
because once we have any kind of sense of security
and knowing what's going to happen, the stock market is
going to react to that because it it reacted so
much going going down once they were put on on
April second, that any kind of good news is going
(19:49):
to drive that. Not necessarily what the economy is doing,
because a lot of economic indicators are actually still good.
Speaker 3 (19:56):
So again, uncertainty is really what we're talking about here,
and and so what are what are ways that a
consumer can take advantage of these times? Where can you
put your money? What There's got to be some good
outcome in all of this.
Speaker 2 (20:11):
Yeah, let's face it, You're right, investors are nervous. They're
sitting on a bunch of cash, a record money market,
like seven trillion dollars in money market funds. They're just
holding cash and not investing it. And that can be
problematic too, because you're missing opportunities and you know, there's
so much volatility. But the market's up this year. So
it's not doom and gloom that you hear on every
(20:33):
news station in various days. The market has still been strong. Yeah,
it's a roller coaster ride, and people that have let
their emotions take over, just like we're talking about, and
maybe they've gone to the sidelines and they've not gotten
back in and they've missed opportunities. And you know, I
think of the younger generation, there's a generational divide in
the future here. The younger generation worries about retirement. They
(20:57):
worried about money, they don't invest in like they should.
Let's face it, the baby boomer generation and the generation after,
they've been very disciplined for the most part, and very
good at saving delayed gratification, not racking up those credit cards.
And that's where we get to experience a lot of
our clients that are very well prepared for retirement. I'm
(21:17):
worried about the younger generation. Obviously, we have four daughters
that are just you know, entering the workforce. But there's
a lot of confusion out there which leads to bad decisions.
And if you're younger, you have a long term opportunity
to take advantage of compound returns over ten, twenty, thirty,
forty fifty years. Don't make the mistakes of of getting
(21:41):
so worried and caught up in the times, you know,
start saving, develop a plan. And that's where again we
like to help people in a variety of ways, and
it's why our clients over the over recent years that
can you help our kids? Can you help our kids?
We certainly can help your kids. We're not limited to
just re tirees. Will You should develop a plan at
(22:03):
any age, sure, and if you're not, time is of
the essence, It really.
Speaker 3 (22:07):
Is, absolutely so. If you are looking to develop a plan,
if you have a lot of questions about the uncertainty
in the economy, and if your monies are in the
correct place, give them a call of Haven Financial Group.
They're number six one two five zero four eight four
zero zero again six one two five zero four eighty
four hundred. You can also check them out at Habanfinancialgroup
(22:31):
dot com. On the other side of the break tariffs,
we'll talk a little bit more about that and how
they could impact your retirement. This is the Haven Financial
Group Radio Show.
Speaker 1 (22:40):
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 Kolvig is back and ready to
help you find in your financial sake Haven.
Speaker 2 (23:03):
Good morning, and welcome back to the Haven Financial Group
Radio Show. I'm Larry Koalvig, founder and CEO of the
Haven Financial Group, on with Kyle Thomas, certified Financial Planner
on the Haven Investment Team. Talking about all this volatility
and tariffs and all these conversations. They're just so much
fun or not. But preparing people that's extremely important because
(23:25):
you know sometimes when people we talk about money, it
can get very uncomfortable. Emotions set in, worry sets in,
and really our job description should be to try to comfort,
educate and give the confidence that people really need to
have in retirement to avoid these not sleeping nights or
fear and money can cause a lot of issues and
(23:48):
that's what our job is to help help people in
that area.
Speaker 3 (23:51):
Absolutely, I think a lot of people are just sitting
you mentioned it earlier, Larry, you know, sitting on their money.
They don't know what to do again, this uncertainty and
then it all comes back to the same word, which
is tariffs. Everybody says, you know, but what's going to
happen with the tariffs. We got to find out what's
(24:12):
going to happen with the tariffs, So maybe we could
get an update. I know, Kyle, you've been well following
this pretty closely. You know where we stand when it
comes to the tariffs for those who maybe are not
following it as closely as all of us.
Speaker 4 (24:25):
Yeah, So globally, at least, what we've heard from the
Trump administration is that there's ninety some countries that are
wanting to make deals with the United States on renegotiating
the trade deals that we have with each individual country.
So you know, that's positive news right there, that we
(24:47):
have ongoing negotiations with all of them. The biggest one
is China in the European Union, and China we had
that ninety day pause on the tariffs with them, and
actually some of the tariffs were removed completely from that
whole deal. And then the European Union, there's increased expectations
(25:12):
that will have a trade negotiation settled with that as well,
and so that is huge news because no one ever
wanted these tariffs to remain in place. Trump himself and
everyone in his administration did not want these to be
a long term thing. It was to provide pressure onto
(25:32):
these other countries to come to the table and let's
make a deal and have a fair trade negotiation or
trade deal with each other. Because these tariffs they're actually
they're not taxes on the countries themselves, they're taxes on
the companies importing those goods from those countries. So if
(25:54):
we have tariffs with China, the companies that are importing
goods from China are getting tax which could pass on
to the consumer, which they don't want to do that,
or the company doesn't want to do that. The government
doesn't want to do that to the consumers because that
can cause a lot of problems and inflation and cost
(26:15):
of goods going up, which can impact retiree specifically, and
the government just doesn't want that for people. So yeah,
it's not a long term thing that anyone wanted.
Speaker 3 (26:28):
No, that is for certain. When it comes to investment strategies,
are you at Haven Financial Group, are you looking closely
at the companies that could be the most affected.
Speaker 4 (26:39):
So we don't look at the specific companies from that aspect,
we look at diversified portfolios that invest in all different
kinds of companies. Now, our allocations to different types of
companies can change, they have a couple times over the
last year and a half or so, but we're remaining
(27:02):
diversified and not individually picking stocks because that carries a
whole lot of extra risk that is just unnecessary, and
data and research shows that having increased risk exposure into
singular companies like that doesn't actually increase your expected return.
(27:23):
Having diversification does that. Because we want to be allocated
to all different types of the spectrum. So we want
large caps, want small caps, want international, and having all
of those pieces creates a better risk reward characteristics inside
of there. And we also want some safety in there,
so bonds, some annuities in their inflation protection. So we're
(27:49):
not individually going to any stocks or sectors or anything
like that.
Speaker 3 (27:53):
Lara, That's one of the things I think that really
means you need a partner, because it's hard to put
together unless that's something you've done all your life. A
really diversified portfolio like that on your own.
Speaker 2 (28:05):
Well, let's face it, there are do it yourself investors
out there. More power too. They do a lot of
research and maybe they're really good at it. If you're married,
make sure you have a backup plan for the spouse.
But there's a lot of folks that just don't like
investments or they talk about money. They're just not into that.
We all have our strengths and weaknesses. I get it.
So putting that thought into the diversification what sectors, you know,
(28:26):
a good balanced approach. Kyle and the team they look
very closely at the different asset classes and making sure
there's the right recipe to the portfolio. Because I'm not
a glass half full guy, I still short term volatility. Again,
none of us have a crystal ball. I think that's
going to be short term volatility, but long term, I'm
very very optimistic. Again, we don't have a crystal ball.
(28:50):
But you know, whether as we're talking, whether you realize
it or not, global trade policy touches every aspect of
our financial life. It really really does, from what you
pay at the store to what your retirement portfolio looks like,
how it performs. And if you're listening and you're not sure,
you're unsure of how these recent tariff shifts or trade
(29:11):
deals might impact your future or really, you haven't sat
down with your guy or gal to even talk about it.
I think that's a mistake. Let's have that conversation, give
us a call, let's work through it together. Because what
we found is having a partner. I just had a
couple in this week. They live on the river, they're retired,
they were worried, they were concerned. They're a prime example.
(29:34):
But well, guess what, we have a plan. They left
the office after an hour and a half of discussing
everything what we put into the plan over the last
several years, and they felt good about it. And that's
what really gives people the confidence to go, Okay, somebody's
got our back, and that's what we really want to
be a partner that has your back.
Speaker 3 (29:55):
You know, I think you just said something that's so interesting.
You know, these terrors and this uncertainty effects and trade
policy affects every aspect of everyone's life. I think there's
a lot of people who believe this is just high finance.
Speaker 2 (30:10):
Oh I would agree again the high finance, but it
does affect every from the gas pumps to I mean
literally every aspect of your life. But don't take that
to the extreme and go, oh, my gosh, Now I'm
going to worry more and more and more. Put together
a plan so you have some confidence into what you're doing.
I mean, just don't wing it if you're too busy
(30:31):
to well, I haven't got around to it yet. I
don't care what age you are listening. Let's start somewhere
to get somewhere. Even if you're the kids finally have
left the house and in your mid fifties and you
haven't started a plan, now's the time. If you're twenty
in listening, now's the time. Time is of the essence
of the element of time becomes that much shorter as
(30:54):
we get older. Again, don't make the mistakes so many
other people have made.
Speaker 3 (30:58):
Absolutely Kle would you like people to take away from
the the idea of tariffs.
Speaker 4 (31:03):
I just want people to not necessarily be too scared
of them to the for to impact them on changing
their allocations completely, like taking all their stocks and going
to cash. You know, there's there's all these indexes out
there that show fear is driving the market or greed
is driving the market. I know CNN has one of
(31:25):
those on their site. But I don't necessarily like those
things because when I when I track it just for
my own you know, personal you know, scope of things.
It just seems to flow with how the market's doing,
so it doesn't seem to have an impact on what
is actually going to be happening, and it seems like
it's a past indicator of what everything is going forward.
(31:47):
So I keep just be careful of paying attention to
those things because a couple of weeks ago, fear was
driving the market when I looked at it, and now
when I look at it today, greed is driving the market.
And what's happened since then, well the market's gone up. Yeah,
So just be careful about that. Make sure that you
(32:08):
work with a partner that can help you properly diversify
and have a balanced portfolio for you that can rebalance.
Because when fear was driving the market, we were buying
stocks and selling bonds, and now it came back positively
for us. And that's some benefit that advisors who are
properly managing your money can provide for you.
Speaker 3 (32:30):
Absolutely. So if you are unsure about these shifting tariffs,
you're concerned about trade deals, and you don't know how
that's going to possibly impact your future, then give the
folks that haven Financial Group a call the number six
one two five zero four eight four zero zero. They
can work through this with you again the number six
(32:51):
one two five zero four eight four zero zero. Everybody
needs a partner in these uncertain times. Coming up next,
we're going to talk one more time about the emotions
of your finances and trying to keep that in logistics
as opposed to emotions. Right here on the Haven Financial
Group Radio Show.
Speaker 1 (33:10):
Don't go too far. We're gathering more important insights and retirement.
Please Devin, The Haven Financial Group Radio Show will.
Speaker 2 (33:17):
Be right back.
Speaker 1 (33:18):
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 Karagan. Now back to the show.
Speaker 2 (33:32):
Good morning once again, and welcome to the Haven Financial
Group Radio Show. Thanks for listening. Feel free to give
us a call with any questions, worries, concerns, or maybe
something you heard on the air today. Our number is
six one two five zero four eighty four hundred or
Havenfinancialgroup dot com. Kim we got We're still teaching lots
of educational classes. We've for ten years, we've been firm
(33:54):
about doing lots of education. Education is the potential for power.
People are yearning for it because they're showing up at
these educational workshops, and that's what they are. They're not
sale they're not sales classes. We're there to educate on
social security and taxation. You can see that on our site.
The classes wills, trusts and legacy planning with our estate
(34:16):
planning partners, provision law, investment classes. I just taught a
class well attended, the truth about annuities. These classes go
on throughout the year. Medicare made simple, all these retirement
puzzle pieces that I want to point out we do
what Haven Financial Group. You know, we may be talking
about wealth management today, which we do obviously. We have
(34:38):
an investment team of twelve. We manage with Charles Schwabin
and Fidelity Well. We do help a lot of people
in the medicare area, the long term care, the life
insurance reviews which people oftentimes overlook, doing tax planning and
which includes tax preparation. These are all the services, or
all the puzzle pieces we offer at Haven Financial Group,
(35:00):
which was the goal ten years ago when I started
the company. It did happen overnight, but I love the compliment.
Larry it's so nice to have all the different personalities
in these areas in the same office because we can
communicate with each other. All of these things should be coordinated,
more so in retirement than ever in your life. And
(35:21):
oftentimes you're doing this over here, this over here, maybe
not doing this at all, and things are working against
each other rather than for and with each other.
Speaker 3 (35:30):
Absolutely, so just a quick reminder. You don't have to
be a client of Haven Financial Group, but you certainly
can be to attend one of these educational seminars. You
can find out where they're being held and the subject
matter at Hanfinancialgroup dot com. Havenfinancialgroup dot com. Be sure
you go on, take a look, see what's convenient for you,
(35:51):
what you might have some questions about. You know, you
don't know what. You don't know till you get there,
and then you find out that you have a lot
more questions about things than you maybe even anticipated that
you would. But please sign up because they do book
out and they just like to get a sense of
how many people will be attending. That's even Financial Group
dot com. Don't let your emotions control your finances. That's
(36:14):
pretty much been the overarching theme in our show today.
With the underlying theme being, of course, the uncertainty in
the markets and in the economy. We've established the idea
that the economy and the markets are two different things,
and many times the markets may look like they're doing great,
(36:35):
but the economy itself is still in inflation, We're still suffering,
and the consumer, the retiree is still feeling the effects.
We're there right now. There's some uncertainty in the markets,
but certainly that inflation is still a little high, and
we're all feeling it in different places. So again, gentlemen,
(36:55):
let's just step back and let's just say, how is
it that you want to tell people to sort of
separate the two your emotions feeling stressed, feeling concerned about
your dollars and the logistics of what's really happening and
how you need to deal with it.
Speaker 4 (37:11):
So, yeah, emotions are going to always be there when
it comes to your finances because for everyone, that's that's
your life's work and savings, and that's what you're going
to be living on in your retirement when you're done working.
So obviously, you know any impact to the downside or
upside too, can really impact your feelings on that and
(37:34):
you're going to want to, you know, hold on to that.
A lot of people have a high water mark feeling too,
so you know, when their accounts hit all time highs
earlier this year for a lot of people, and then
the market dropped ten percent from there, that felt like
a big loss, but the market had actually only gone
(37:56):
down year to date, depending on how you're invested, five
to ten percent, which isn't isn't a huge loss. Actually,
if that was, if that was the worst loss that
we have in the stock market for the next twenty years,
I'd be very happy about that, because we all remember
twenty twenty two, just a few years ago, it was
down twenty to thirty percent. So there's a mentality there
(38:19):
of fear, even if it's losses kind of in a
minimal degree, but that we need to change the perception
on those losses actually because for me as a professional advisor,
I don't like clients losing money. But it also provided
a great opportunity for us and how we manage money,
(38:40):
and that was because we could rebalance. So if you
are super emotional about your investments and where they're at
in that kind of time where the market's going down
ten percent, you might not be in the right profile,
and that's okay. We need to find what the best
risk profile is for you because we want you to
(39:02):
feel comfort even in those kinds of moments. And that's
one of the biggest things that we do is find
what kind of stock to bond ratio do you need
in order to be comfortable and sleep at night, because
that's ultimately where you stay away from making your rational
decisions with your investments and.
Speaker 3 (39:23):
Larry a long term plan as long as you've communicated
with your financial planner and you've continued to watch it.
A long term plan, even in these uncertain times, is
the best kind of plan.
Speaker 2 (39:35):
Oh, without question. Consider the timeline. You know, retirement could
be ten, twenty thirty plus years, I know, and the
team builds out plans we're going into well into the nineties.
So you got to think, yeah, short term, bucket, long
term is the plan. And you know, life happens. You know,
life's calendar doesn't always cooperate with all our calendar. There's need,
(39:58):
there's going to be needs for modifications. You know, people
can run into health issues, they can you know, a
market downturn and the volatility that we have a family transition,
a loss of a spouse, a replacement of income, all
of these things. Life happens, and it happens quickly. But
consider that timeline. I guess the easiest advice I can
give a lot of the listeners too, because we we
(40:20):
hear and we see this so often, is sometimes when
people retired, maybe they have a little bit more time
on their hands. Although most people, a lot of retires
say I don't know how I had time to work
because I'm so busy now in retirement. And I say, well,
what are you doing. Well, we're babysitting, grandparenting and going
to doctor's appointments. Oh, it sounds like a lot of fun, actually,
(40:41):
But be careful about how much you bombard yourself with news.
Thank you for listening to our show. We appreciate that. However,
sometimes you know too much news. Negativity breeds the news
and their fear and anxiety. Maybe you're just watching too
much of too many different news stations, and that's where
(41:01):
this anxiety and confusion and worry. Maybe that's breeding it
too much. I've seen it too much and oh my gosh,
I heard this, I heard this, I heard this. Well,
I'm not saying bury your head and the sad. That's
not what I'm saying. But oftentimes I'll say when they
say did you hear about this? I'm like, where did
you hear this? Well, it's some source I've never heard
(41:24):
of in my entire life. Again, you can live that
way if you want to. I don't think it's a
great way to live retirement. So just be careful. It's
what's going on in this world, and stay up with
the times, but don't overwhelm yourself because that's where problems exist.
Speaker 3 (41:38):
Well, there's a lot of noise out there. There's no
two ways about that. And it seems like to me
what you guys are saying is that you're safer certainly
to stay informed, but to stay accountable to your plan,
stay with your plan.
Speaker 2 (41:51):
Accountability. Now we may not want accountability, but during these
times in retirement, accountability is important. Somebody to'll hold your hand,
Somebody remind you of why you did what you did,
a reminder of you know, why you're not taking as
much risk in your portfolio as you did when you
were thirty years old. All of these things is the
(42:12):
partner that you should have. Again, they don't all have
to be under the same roof. They can be. We
do offer all these services, but your financial future deserves
more than I would say an emotional guess work. Hope
is not a plan. We need hope, but we need
to have a plan, a real, well structured plan that
can adapt and be modified, and that often comes with
(42:34):
the guidance from a financial advisor, a financial planner, a team,
and we are a team. It's we're not a one
trick pony shop that can hold you accountable. Again, communication
and spending the time, and we'll give you the confidence
that you.
Speaker 3 (42:50):
Deserve, absolutely the partnership that you deserve. And if you're
looking for a partner, let's get started right now. Calhaven
Financial Group. The number is six y one to two
five zero four eight four zero zero six one two
five zero four eighty four hundred. That's how you get
hold of the experts there at Haven Financial Group. You
can also go to Havenfinancialgroup dot com. You check out
(43:11):
some of those educational seminars coming up that we talked
about a brief time ago. Be sure you sign up. Remember,
you know you don't know what you don't know, so
go there, get yourself educated, get your questions answered. Sometimes,
Larry says people come and they've had a question for
years and they've waited for that opportunity to finally speak
to someone who can answer the question. If you're one
(43:32):
of those people, be sure that you sign up. Kyle Thomas,
thank you so much for being part of the show today.
Speaker 4 (43:38):
Yeah, thank you so much for having me. It was
great to be here. Absolutely, I'm great to be with you.
We'll see you next week.
Speaker 3 (43:43):
Super Thank you, Larry.
Speaker 4 (43:46):
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.
Speaker 2 (43:58):
Please consult with the qualified financial advisor and or tax
professional before implementing any strategy discussed herein and comments regarding
it safe and secure.
Speaker 1 (44:07):
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 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 phone 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 Kulvig, phone and CEO of the Haven Financial Group.
Thanks for listening. We have Kyle Thomas, a certified financial
planner on the Haven Investment Team, on with us today.
Kim and we had a lot to talk about how
to manage financial uncertainty, and it seems like there's all
kinds of uncertainty and there's something new in the news
(01:16):
all the time. So listeners feel free to give us
a call at six one two five zero four eight
four zero zero or visit us online at Havenfinancialgroup dot com. Kim,
great to be with you.
Speaker 3 (01:27):
Great to be with you as well, Larry, you know
it is so interesting and Kyle, great to have you.
Thanks for being a part of the show today.
Speaker 4 (01:33):
Yeah, no, thank you.
Speaker 3 (01:34):
You know, guys, wouldn't you say that when we get
to the end of twenty twenty five. You know how
they always look back and there's certain words that describe
the year. I think uncertainty will be one of the
words that is used for twenty twenty five. You know,
we started with a new administration, then immediately we got
into the whole issues of tariffs. Now tariffs are on hold,
(01:56):
but we don't know if in fact they are going
to take place. We just all feel very uncertain and
that can make I think, for emotional decisions and can
also make people walk the floors at night.
Speaker 2 (02:10):
Larry, Oh, I'd agree. I think you're one hundred percent accurate.
We're going to look back and you know, inflation is
still looming. It's top of people's minds. Their pocketbooks are hurting,
markets are swinging in every direction, up and down, and
one minutes it's crashing, next it's all time highs. Well,
what really is it? You know, job and unemployment data
looks good, but then why are people so worrisome about
(02:33):
what's going on? So again, there's always new headlines, and
we're going to talk about some of the things that
we can do on the show today to try to
alleviate or give you confidence into what you're doing, whatever
your plan is. And again, you need to start with
a plan, and that's I think a good place to start.
Speaker 3 (02:51):
Well, let me just ask you guys, you know, what
is the role that you're playing with some of your
clients in this time that is uncertain and then coming
in and they're asking a lot of questions And I
would imagine Kyle Summer even coming in and saying, should
we change our plan?
Speaker 2 (03:06):
Yeah?
Speaker 4 (03:06):
There are questions like that, and there are there are
questions about allocation, there's questions about there's sustainability and retirement.
It's a wide array, but most of the time, it
doesn't necessarily revolve around the investment allocations because we from
the very beginning try to set up what the plan
(03:29):
is that we and the clients are both aware of
that plan and it's something that we're going to stick
to for a long time. So yes, every once in
a while there are questions about that specific thing, but
most of the time, because we set that up from
the very beginning, any questions that we receive are are
we going to be okay? That's what it's centered around.
(03:51):
And some of the biggest things that that we do
as advisors is behavioral coaching and managing emotions because that's
something that we're super powerful and impactful for these clients
on because you know, we have seen the studies and
know how people would react if they were to be
(04:14):
doing things on their own. And that's why people hire
us because you know, we're managing these things without that emotion.
We're completely taking that out of there, because studies show
that when you take emotion out of it, that's when
you can actually perform the best within your investments.
Speaker 3 (04:31):
Well, and I think you can understand why people can't
really take their emotions out of it. I mean it
is certainly an emotional thing. Your money is emotional for
you because it's your future. Let me back up for
just a second before we continue, though, to talk about
managing your emotions and talk a little bit about what
are some of the circumstances in these uncertain times that
(04:52):
maybe you would make tweaks or changes in people's investment
strategy or in their retirement strategy.
Speaker 2 (04:59):
Well mind, and you know, we're talking to folks that are,
you know, retired or planning for retirement maybe five years
or less. We're not limited in scope at Haven Financial
Group in any capacity, but that's really who we're speaking to.
So the element of time looms, they're on the cusp
of retirement, the paychecks might they might be stopping. Where
(05:19):
do we generate income from? You know, where we're going
to take money out of the market when the market's
very volatile, and that worries people, do I have enough money?
When am I going to run out of money? These
are all of the things that we address from the
very beginning when we're building out a plan for folks
that we sit down with. Yeah, I mean, you know,
everything from expenditures to the healthcare to all the things
(05:42):
that people worry about in retirement because up until this point,
if you've been working, you've had insurance through work, you
had paychecks going in. Now it completely changes, and you know,
you're now you're in the golden years, and now you
have to map out all these things that we're kind
of taken for granted all those years that you were working.
Speaker 3 (06:01):
How do you ensure and make your clients feel better
at night that they are doing the right things during
these you know, again uncertain times.
Speaker 4 (06:12):
Well, we stress tests everything from the very beginning, and
so we find out what kind of goals that the
clients are trying to achieve, and we stress that out
over thirty forty years into the mid nineties for their
life expectancy. Sometimes we go over one hundred and two
(06:33):
depending on genes and all that. But that's the biggest
thing because if we can stress that and test thousands
of different market cycles, inflation rates, and spending patterns, we
can come out to a very good estimate of that
success rate in retirement and being able to maintain the
(06:54):
lifestyle that they were living before retirement or what they
were planning to live in retirement, and that provides so
much comfort for them in knowing that if we have
a really bad market here, if we have eight oh
nine happen, you know multiple times, we're still going to
be all right in this situation. And you know, sometimes
there's success rates that are you know, seventy percent. But
(07:19):
that's that also means that if you have to adjust things,
you don't have to adjust those things for maybe twenty years,
you know, those last ten years and retirements where things
maybe get a little you know, wishy washy, But there's
also a seventy percent chance that you don't have to
adjust things. So, you know, finding out what kind of
(07:39):
success rate inside the plan and being in the green zone,
the confidence zone is providing so much comfort for people
that we work with.
Speaker 3 (07:48):
Yeah, those stress tests to me just seem like, you know,
once you know that you've your portfolio has been through that,
that's got to give you some peace of mind. If
these tariffs would take effect in the way that they've
been threatened, gentlemen, how might retirees be affected?
Speaker 4 (08:05):
So the tariff that's been the biggest conversation for the
changing financial world for this year. It was interest rates
for the previous few years, but now it's it's all
tariff based and there's so much uncertainty within those No
one knows how to price that in. No one knows
what companies are actually going to be forced to come
back to the United States, and no one knows what
(08:28):
price adjustments are going to be taking place.
Speaker 2 (08:32):
Now.
Speaker 4 (08:33):
I do expect, you know, some tariffs or some trading
to maintain, but the tariffs themselves will probably you know,
fade away over time.
Speaker 1 (08:43):
Here.
Speaker 4 (08:43):
We already saw, you know, over the last week the
European Union trade negotiations with the US is. It's looking
good and positive there. That's why the market jumped up there.
But there is going to be some implications and price
increases causing some inflation because once once prices go up,
(09:05):
they tend to not really come down, right, you know,
the people who are selling their product, the people got
used to that new price, so why would they why
would they bring it down because they're all about profits
themselves too. But there is going to be some inflation there,
and we are allocating specifically to Treasury inflation protected securities
(09:29):
that hedge against that. And there's also other products like
a fixed index annuity that can hedge against that with
having no downside and then upside potential linked to an
SMP index. So there's other ways that we can hedge
against any potential inflation. It's just a matter of finding
(09:51):
what kind of comfort level and risk profile, Uh, you
should have.
Speaker 3 (09:56):
Absolutely so, gentlemen. In the end, I think one of
the things that we established right off the top, though,
is that what people in these uncertain times really need
is a manager like you guys they're at Haven Financial
Group because you're taking the emotion out of it and
you're understanding why your clients feel so emotional about it.
Speaker 2 (10:17):
Most definitely, I think the secret here is that you
have a partner that you can lean on, probably more
so in these crucial times when things are volatile. That's
what we really strive to do with Haven Financial Group,
and we spend the time. I think clients would attest
that we're not in any rush. There's no quota as
to how many times we can get together. We want
(10:38):
to give them confidence into what the plan is, why
they establish the plan, and how we continue to monitor
it and modify it as life happens, because it doesn't
stay the same. You know, if there could be health circumstances,
there could be a whole variety of things and we
want to spend the quality time to give them that
(10:58):
comfort and the confidence. And that's what I find most
people are, Kim, are just not getting sure getting together
once or twice a year to talk for thirty minutes
to an hour for what you're paying. That's not the
attention anybody deserves. So you know, whether you're a level
headed investor or you know, the state of your financial
portfolio keeps you up at night, that's not good. We
(11:21):
want people to sleep good. Sometimes we call it sleep insurance.
You know, we want to put you in a position
where you're not ready to jump off the cliff every
time the market goes up and down. And that's done
by spending the time that you deserve. And most people,
KIM are just not getting it right.
Speaker 3 (11:38):
Well, if that sounds like something you'd benefit from, then
why don't you give the folks that Haven Financial Group
a call. The number it is six one two five
zero four eight four zero zero. That's six one two
five zero four eight four zero zero. Tell them you
heard us here on the radio. You'd like to set
up an appointment and go in and meet with the experts.
You can also check out their website. It's even Financial Group.
(12:01):
All right, still coming your way. The economy and the markets,
we have to tell you they are different, that is
for sure. And we're going to talk about how 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 ways, 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 Kolvig and Kim Karragan. Now back to
(12:31):
the show.
Speaker 2 (12:33):
Good morning, and welcome back to the Haven Financial Group
Radio Show. I'm Larry Kolviig, founder and CEO of the
Haven Financial Group, on with Kyle Thomas, certified financial Planner
on the Haven team and Kim. It's our ten year
anniversary again this year. We're very excited. We're approaching that real,
real soon here and we're expanding. We just added space
(12:53):
to for the third time and ten years, so we're
very excited to add more staff members. And I you
remiss to not give a shout out to my wife
who just had a birthday this week, Kim, so I
had I had to sneak that in there.
Speaker 3 (13:05):
Of course, to you.
Speaker 2 (13:08):
And we're in June. Now, can you believe that?
Speaker 3 (13:10):
No, I cannot.
Speaker 2 (13:12):
I know it. So it just needs to slow down
a little bit. But if you're listening, feel free to
give us a call six one two five four eighty
four hundred or Havenfinancial Group dot com. All kinds of
retirement tools, and there's a lot more tools out there,
projection tools and calculators and all that kind of good
stuff that you can play around with. So I encourage it,
(13:32):
and you know, especially in these volatile times, have a
partner you can lean on. You're gonna hear that several
times in this show. If you're listening and not getting
the attention, ask yourself, why aren't you? If you make
a phone call and you don't get a return call,
ask yourself, Am I in the right place or maybe
I'm not in the right place. So again I'm gonna
(13:52):
challenge listeners here a little bit today to pick up
the phone or pick up the phone and give us
a call.
Speaker 3 (13:58):
We'd love to visit absolutely Thomas of course with us
as well, a certified financial planner there at Haven. And
I'm gonna have Kyle start this segment out by kind
of explaining to everyone. When I was teasing this before
we went to the break, I said that in this segment,
we'd like to talk about the economy and the markets
and how they're different. You know, we can see, Kyle,
(14:19):
sometimes the markets go crazy and yet GDP can be lower.
So can you explain to our listeners maybe a little
bit about the difference.
Speaker 4 (14:27):
Yeah, So the stock market and the economy are They're
actually not correlated all too much. A lot of people,
I think a recession depends on how the stock market
is performing. But we could absolutely have a booming stock market,
but the economy is not in a great spot. So
(14:50):
one of the biggest definitions of a slowdown or recession
for the economy is two negative quarters of gross domestic product.
We had a first one in quarter one of this year,
so we'll see, you know, what happens in quarter two.
But there are a lot of indicators showing that things
(15:12):
are good within the United States, with you know, the
job security that that's kind of stayed in line with
what the FED is wanting to keep it at because
they have the dual mandate with inflation and then also unemployment.
Unemployments in a good spot. They're trying to have inflation
get to two percent before doing any kind of rate
(15:34):
cuts or anything. Right now, it's at two point eight
or as of last month. So that's a big driver
of the economy as well, because companies lend from banks
and that drives what kind of profits they have.
Speaker 3 (15:50):
Absolutely, I'm sorry, I was just gonna tak it. Let's
go back to inflation for just a second. Yeah, and
explain to people. I mean, I have you know, I
hear constantly reports about how gas prices are down and
it's getting better at the grocery store. We're not paying
quite as much for eggs. But yet you've just said,
inflation is not really where they want it to be.
Speaker 4 (16:10):
Yeah, exactly. So it's been well, it's been high for
the last couple of years. It's it's slowly making its
way down, but we're still at a point where it's
it's above where they want it to be. I mean,
it's it's close to fifty percent higher than where they
want it to be before they do any kind of
rate cuts. And remember, when when rates are cut, that
(16:33):
drives the economy. That that what makes people want to
spend money rather than save it, right, And it's it's
going to create more inflation by people spending money, because
once there's more demand for things, you know, price goes
up and all of that. So some inflation is good too,
(16:55):
not all inflation is bad. We do want inflation, actually,
we just don't want it at eight or nine percent
wherever it was a few years ago. We wanted at
that two percent because that drives sustainable economic growth without
prices going out of control, like how eggs went in
the last year.
Speaker 3 (17:13):
Larry. It's amazing how quickly it goes up and how
slow it comes down.
Speaker 2 (17:17):
It always is, you know, inflation isn't over by any stretch.
It's really shifted. You mentioned energy prices and goods and
maybe the grocery store and eggs. Maybe we've noticed that
they've come down, and they have. But if we're talking
services or insurance, man insurance has gone through the roof
with all the things that have gone on in this
(17:37):
world with fires and floods, and insurance is just through
the roof, and that's eating away at people's budgets. Housing
continues to be extremely high, mortgage rates have come down
a little bit. All these things affect people's budgets, and
a budget is so important, especially for retirees. You know,
we always preach to the younger generation and when they're
young to develop a budget, but most retired Americans are
(18:00):
on a fixed income and if it starts getting eroded
by this inflation, which it has been, and depleted savings
accounts and so forth, that's where we really see people
feeling it and their retirement getting affected. And that's why
we like to always say, you want it a good
amount of liquid funds, a good balance between liquidity stock
(18:21):
market investments and fixed income or principle protected investments, so
you can adapt to these volatile times.
Speaker 3 (18:29):
Sure, I think what we're proving in this segment of
the show is that Wall Street and Main Street are
not necessarily directly correlated. I think that's what you guys
are saying.
Speaker 4 (18:38):
Correct, Yeah, that is absolutely correct. And also one thing
that to note, sometimes recessions aren't really known about until
after they happen. So there's some cases where we look
back after a few months and say, oh, that was
a recession, and the stock market could absolutely be going
(19:02):
bananas at that point, and so they're they're not correlated
at all. Uh. The stock market is completely driven off
of what the perception is of of the tariffs right now,
just like when the the announcement for well multiple tariff
scenarios being you know, delayed or pushed out drove the
(19:24):
market up dramatically. That's that's completely driving it right now,
because once we have any kind of sense of security
and knowing what's going to happen, the stock market is
going to react to that because it it reacted so
much going going down once they were put on on
April second, that any kind of good news is going
(19:49):
to drive that. Not necessarily what the economy is doing,
because a lot of economic indicators are actually still good.
Speaker 3 (19:56):
So again, uncertainty is really what we're talking about here,
and and so what are what are ways that a
consumer can take advantage of these times? Where can you
put your money? What There's got to be some good
outcome in all of this.
Speaker 2 (20:11):
Yeah, let's face it, You're right, investors are nervous. They're
sitting on a bunch of cash, a record money market,
like seven trillion dollars in money market funds. They're just
holding cash and not investing it. And that can be
problematic too, because you're missing opportunities and you know, there's
so much volatility. But the market's up this year. So
it's not doom and gloom that you hear on every
(20:33):
news station in various days. The market has still been strong. Yeah,
it's a roller coaster ride, and people that have let
their emotions take over, just like we're talking about, and
maybe they've gone to the sidelines and they've not gotten
back in and they've missed opportunities. And you know, I
think of the younger generation, there's a generational divide in
the future here. The younger generation worries about retirement. They
(20:57):
worried about money, they don't invest in like they should.
Let's face it, the baby boomer generation and the generation after,
they've been very disciplined for the most part, and very
good at saving delayed gratification, not racking up those credit cards.
And that's where we get to experience a lot of
our clients that are very well prepared for retirement. I'm
(21:17):
worried about the younger generation. Obviously, we have four daughters
that are just you know, entering the workforce. But there's
a lot of confusion out there which leads to bad decisions.
And if you're younger, you have a long term opportunity
to take advantage of compound returns over ten, twenty, thirty,
forty fifty years. Don't make the mistakes of of getting
(21:41):
so worried and caught up in the times, you know,
start saving, develop a plan. And that's where again we
like to help people in a variety of ways, and
it's why our clients over the over recent years that
can you help our kids? Can you help our kids?
We certainly can help your kids. We're not limited to
just re tirees. Will You should develop a plan at
(22:03):
any age, sure, and if you're not, time is of
the essence, It really.
Speaker 3 (22:07):
Is, absolutely so. If you are looking to develop a plan,
if you have a lot of questions about the uncertainty
in the economy, and if your monies are in the
correct place, give them a call of Haven Financial Group.
They're number six one two five zero four eight four
zero zero again six one two five zero four eighty
four hundred. You can also check them out at Habanfinancialgroup
(22:31):
dot com. On the other side of the break tariffs,
we'll talk a little bit more about that and how
they could impact your retirement. This is the Haven Financial
Group Radio Show.
Speaker 1 (22:40):
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 Kolvig is back and ready to
help you find in your financial sake Haven.
Speaker 2 (23:03):
Good morning, and welcome back to the Haven Financial Group
Radio Show. I'm Larry Koalvig, founder and CEO of the
Haven Financial Group, on with Kyle Thomas, certified Financial Planner
on the Haven Investment Team. Talking about all this volatility
and tariffs and all these conversations. They're just so much
fun or not. But preparing people that's extremely important because
(23:25):
you know sometimes when people we talk about money, it
can get very uncomfortable. Emotions set in, worry sets in,
and really our job description should be to try to comfort,
educate and give the confidence that people really need to
have in retirement to avoid these not sleeping nights or
fear and money can cause a lot of issues and
(23:48):
that's what our job is to help help people in
that area.
Speaker 3 (23:51):
Absolutely, I think a lot of people are just sitting
you mentioned it earlier, Larry, you know, sitting on their money.
They don't know what to do again, this uncertainty and
then it all comes back to the same word, which
is tariffs. Everybody says, you know, but what's going to
happen with the tariffs. We got to find out what's
(24:12):
going to happen with the tariffs, So maybe we could
get an update. I know, Kyle, you've been well following
this pretty closely. You know where we stand when it
comes to the tariffs for those who maybe are not
following it as closely as all of us.
Speaker 4 (24:25):
Yeah, So globally, at least, what we've heard from the
Trump administration is that there's ninety some countries that are
wanting to make deals with the United States on renegotiating
the trade deals that we have with each individual country.
So you know, that's positive news right there, that we
(24:47):
have ongoing negotiations with all of them. The biggest one
is China in the European Union, and China we had
that ninety day pause on the tariffs with them, and
actually some of the tariffs were removed completely from that
whole deal. And then the European Union, there's increased expectations
(25:12):
that will have a trade negotiation settled with that as well,
and so that is huge news because no one ever
wanted these tariffs to remain in place. Trump himself and
everyone in his administration did not want these to be
a long term thing. It was to provide pressure onto
(25:32):
these other countries to come to the table and let's
make a deal and have a fair trade negotiation or
trade deal with each other. Because these tariffs they're actually
they're not taxes on the countries themselves, they're taxes on
the companies importing those goods from those countries. So if
(25:54):
we have tariffs with China, the companies that are importing
goods from China are getting tax which could pass on
to the consumer, which they don't want to do that,
or the company doesn't want to do that. The government
doesn't want to do that to the consumers because that
can cause a lot of problems and inflation and cost
(26:15):
of goods going up, which can impact retiree specifically, and
the government just doesn't want that for people. So yeah,
it's not a long term thing that anyone wanted.
Speaker 3 (26:28):
No, that is for certain. When it comes to investment strategies,
are you at Haven Financial Group, are you looking closely
at the companies that could be the most affected.
Speaker 4 (26:39):
So we don't look at the specific companies from that aspect,
we look at diversified portfolios that invest in all different
kinds of companies. Now, our allocations to different types of
companies can change, they have a couple times over the
last year and a half or so, but we're remaining
(27:02):
diversified and not individually picking stocks because that carries a
whole lot of extra risk that is just unnecessary, and
data and research shows that having increased risk exposure into
singular companies like that doesn't actually increase your expected return.
(27:23):
Having diversification does that. Because we want to be allocated
to all different types of the spectrum. So we want
large caps, want small caps, want international, and having all
of those pieces creates a better risk reward characteristics inside
of there. And we also want some safety in there,
so bonds, some annuities in their inflation protection. So we're
(27:49):
not individually going to any stocks or sectors or anything
like that.
Speaker 3 (27:53):
Lara, That's one of the things I think that really
means you need a partner, because it's hard to put
together unless that's something you've done all your life. A
really diversified portfolio like that on your own.
Speaker 2 (28:05):
Well, let's face it, there are do it yourself investors
out there. More power too. They do a lot of
research and maybe they're really good at it. If you're married,
make sure you have a backup plan for the spouse.
But there's a lot of folks that just don't like
investments or they talk about money. They're just not into that.
We all have our strengths and weaknesses. I get it.
So putting that thought into the diversification what sectors, you know,
(28:26):
a good balanced approach. Kyle and the team they look
very closely at the different asset classes and making sure
there's the right recipe to the portfolio. Because I'm not
a glass half full guy, I still short term volatility. Again,
none of us have a crystal ball. I think that's
going to be short term volatility, but long term, I'm
very very optimistic. Again, we don't have a crystal ball.
(28:50):
But you know, whether as we're talking, whether you realize
it or not, global trade policy touches every aspect of
our financial life. It really really does, from what you
pay at the store to what your retirement portfolio looks like,
how it performs. And if you're listening and you're not sure,
you're unsure of how these recent tariff shifts or trade
(29:11):
deals might impact your future or really, you haven't sat
down with your guy or gal to even talk about it.
I think that's a mistake. Let's have that conversation, give
us a call, let's work through it together. Because what
we found is having a partner. I just had a
couple in this week. They live on the river, they're retired,
they were worried, they were concerned. They're a prime example.
(29:34):
But well, guess what, we have a plan. They left
the office after an hour and a half of discussing
everything what we put into the plan over the last
several years, and they felt good about it. And that's
what really gives people the confidence to go, Okay, somebody's
got our back, and that's what we really want to
be a partner that has your back.
Speaker 3 (29:55):
You know, I think you just said something that's so interesting.
You know, these terrors and this uncertainty effects and trade
policy affects every aspect of everyone's life. I think there's
a lot of people who believe this is just high finance.
Speaker 2 (30:10):
Oh I would agree again the high finance, but it
does affect every from the gas pumps to I mean
literally every aspect of your life. But don't take that
to the extreme and go, oh, my gosh, Now I'm
going to worry more and more and more. Put together
a plan so you have some confidence into what you're doing.
I mean, just don't wing it if you're too busy
(30:31):
to well, I haven't got around to it yet. I
don't care what age you are listening. Let's start somewhere
to get somewhere. Even if you're the kids finally have
left the house and in your mid fifties and you
haven't started a plan, now's the time. If you're twenty
in listening, now's the time. Time is of the essence
of the element of time becomes that much shorter as
(30:54):
we get older. Again, don't make the mistakes so many
other people have made.
Speaker 3 (30:58):
Absolutely Kle would you like people to take away from
the the idea of tariffs.
Speaker 4 (31:03):
I just want people to not necessarily be too scared
of them to the for to impact them on changing
their allocations completely, like taking all their stocks and going
to cash. You know, there's there's all these indexes out
there that show fear is driving the market or greed
is driving the market. I know CNN has one of
(31:25):
those on their site. But I don't necessarily like those
things because when I when I track it just for
my own you know, personal you know, scope of things.
It just seems to flow with how the market's doing,
so it doesn't seem to have an impact on what
is actually going to be happening, and it seems like
it's a past indicator of what everything is going forward.
(31:47):
So I keep just be careful of paying attention to
those things because a couple of weeks ago, fear was
driving the market when I looked at it, and now
when I look at it today, greed is driving the market.
And what's happened since then, well the market's gone up. Yeah,
So just be careful about that. Make sure that you
(32:08):
work with a partner that can help you properly diversify
and have a balanced portfolio for you that can rebalance.
Because when fear was driving the market, we were buying
stocks and selling bonds, and now it came back positively
for us. And that's some benefit that advisors who are
properly managing your money can provide for you.
Speaker 3 (32:30):
Absolutely. So if you are unsure about these shifting tariffs,
you're concerned about trade deals, and you don't know how
that's going to possibly impact your future, then give the
folks that haven Financial Group a call the number six
one two five zero four eight four zero zero. They
can work through this with you again the number six
(32:51):
one two five zero four eight four zero zero. Everybody
needs a partner in these uncertain times. Coming up next,
we're going to talk one more time about the emotions
of your finances and trying to keep that in logistics
as opposed to emotions. Right here on the Haven Financial
Group Radio Show.
Speaker 1 (33:10):
Don't go too far. We're gathering more important insights and retirement.
Please Devin, The Haven Financial Group Radio Show will.
Speaker 2 (33:17):
Be right back.
Speaker 1 (33:18):
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 Karagan. Now back to the show.
Speaker 2 (33:32):
Good morning once again, and welcome to the Haven Financial
Group Radio Show. Thanks for listening. Feel free to give
us a call with any questions, worries, concerns, or maybe
something you heard on the air today. Our number is
six one two five zero four eighty four hundred or
Havenfinancialgroup dot com. Kim we got We're still teaching lots
of educational classes. We've for ten years, we've been firm
(33:54):
about doing lots of education. Education is the potential for power.
People are yearning for it because they're showing up at
these educational workshops, and that's what they are. They're not
sale they're not sales classes. We're there to educate on
social security and taxation. You can see that on our site.
The classes wills, trusts and legacy planning with our estate
(34:16):
planning partners, provision law, investment classes. I just taught a
class well attended, the truth about annuities. These classes go
on throughout the year. Medicare made simple, all these retirement
puzzle pieces that I want to point out we do
what Haven Financial Group. You know, we may be talking
about wealth management today, which we do obviously. We have
(34:38):
an investment team of twelve. We manage with Charles Schwabin
and Fidelity Well. We do help a lot of people
in the medicare area, the long term care, the life
insurance reviews which people oftentimes overlook, doing tax planning and
which includes tax preparation. These are all the services, or
all the puzzle pieces we offer at Haven Financial Group,
(35:00):
which was the goal ten years ago when I started
the company. It did happen overnight, but I love the compliment.
Larry it's so nice to have all the different personalities
in these areas in the same office because we can
communicate with each other. All of these things should be coordinated,
more so in retirement than ever in your life. And
(35:21):
oftentimes you're doing this over here, this over here, maybe
not doing this at all, and things are working against
each other rather than for and with each other.
Speaker 3 (35:30):
Absolutely, so just a quick reminder. You don't have to
be a client of Haven Financial Group, but you certainly
can be to attend one of these educational seminars. You
can find out where they're being held and the subject
matter at Hanfinancialgroup dot com. Havenfinancialgroup dot com. Be sure
you go on, take a look, see what's convenient for you,
(35:51):
what you might have some questions about. You know, you
don't know what. You don't know till you get there,
and then you find out that you have a lot
more questions about things than you maybe even anticipated that
you would. But please sign up because they do book
out and they just like to get a sense of
how many people will be attending. That's even Financial Group
dot com. Don't let your emotions control your finances. That's
(36:14):
pretty much been the overarching theme in our show today.
With the underlying theme being, of course, the uncertainty in
the markets and in the economy. We've established the idea
that the economy and the markets are two different things,
and many times the markets may look like they're doing great,
(36:35):
but the economy itself is still in inflation, We're still suffering,
and the consumer, the retiree is still feeling the effects.
We're there right now. There's some uncertainty in the markets,
but certainly that inflation is still a little high, and
we're all feeling it in different places. So again, gentlemen,
(36:55):
let's just step back and let's just say, how is
it that you want to tell people to sort of
separate the two your emotions feeling stressed, feeling concerned about
your dollars and the logistics of what's really happening and
how you need to deal with it.
Speaker 4 (37:11):
So, yeah, emotions are going to always be there when
it comes to your finances because for everyone, that's that's
your life's work and savings, and that's what you're going
to be living on in your retirement when you're done working.
So obviously, you know any impact to the downside or
upside too, can really impact your feelings on that and
(37:34):
you're going to want to, you know, hold on to that.
A lot of people have a high water mark feeling too,
so you know, when their accounts hit all time highs
earlier this year for a lot of people, and then
the market dropped ten percent from there, that felt like
a big loss, but the market had actually only gone
(37:56):
down year to date, depending on how you're invested, five
to ten percent, which isn't isn't a huge loss. Actually,
if that was, if that was the worst loss that
we have in the stock market for the next twenty years,
I'd be very happy about that, because we all remember
twenty twenty two, just a few years ago, it was
down twenty to thirty percent. So there's a mentality there
(38:19):
of fear, even if it's losses kind of in a
minimal degree, but that we need to change the perception
on those losses actually because for me as a professional advisor,
I don't like clients losing money. But it also provided
a great opportunity for us and how we manage money,
(38:40):
and that was because we could rebalance. So if you
are super emotional about your investments and where they're at
in that kind of time where the market's going down
ten percent, you might not be in the right profile,
and that's okay. We need to find what the best
risk profile is for you because we want you to
(39:02):
feel comfort even in those kinds of moments. And that's
one of the biggest things that we do is find
what kind of stock to bond ratio do you need
in order to be comfortable and sleep at night, because
that's ultimately where you stay away from making your rational
decisions with your investments and.
Speaker 3 (39:23):
Larry a long term plan as long as you've communicated
with your financial planner and you've continued to watch it.
A long term plan, even in these uncertain times, is
the best kind of plan.
Speaker 2 (39:35):
Oh, without question. Consider the timeline. You know, retirement could
be ten, twenty thirty plus years, I know, and the
team builds out plans we're going into well into the nineties.
So you got to think, yeah, short term, bucket, long
term is the plan. And you know, life happens. You know,
life's calendar doesn't always cooperate with all our calendar. There's need,
(39:58):
there's going to be needs for modifications. You know, people
can run into health issues, they can you know, a
market downturn and the volatility that we have a family transition,
a loss of a spouse, a replacement of income, all
of these things. Life happens, and it happens quickly. But
consider that timeline. I guess the easiest advice I can
give a lot of the listeners too, because we we
(40:20):
hear and we see this so often, is sometimes when
people retired, maybe they have a little bit more time
on their hands. Although most people, a lot of retires
say I don't know how I had time to work
because I'm so busy now in retirement. And I say, well,
what are you doing. Well, we're babysitting, grandparenting and going
to doctor's appointments. Oh, it sounds like a lot of fun, actually,
(40:41):
But be careful about how much you bombard yourself with news.
Thank you for listening to our show. We appreciate that. However,
sometimes you know too much news. Negativity breeds the news
and their fear and anxiety. Maybe you're just watching too
much of too many different news stations, and that's where
(41:01):
this anxiety and confusion and worry. Maybe that's breeding it
too much. I've seen it too much and oh my gosh,
I heard this, I heard this, I heard this. Well,
I'm not saying bury your head and the sad. That's
not what I'm saying. But oftentimes I'll say when they
say did you hear about this? I'm like, where did
you hear this? Well, it's some source I've never heard
(41:24):
of in my entire life. Again, you can live that
way if you want to. I don't think it's a
great way to live retirement. So just be careful. It's
what's going on in this world, and stay up with
the times, but don't overwhelm yourself because that's where problems exist.
Speaker 3 (41:38):
Well, there's a lot of noise out there. There's no
two ways about that. And it seems like to me
what you guys are saying is that you're safer certainly
to stay informed, but to stay accountable to your plan,
stay with your plan.
Speaker 2 (41:51):
Accountability. Now we may not want accountability, but during these
times in retirement, accountability is important. Somebody to'll hold your hand,
Somebody remind you of why you did what you did,
a reminder of you know, why you're not taking as
much risk in your portfolio as you did when you
were thirty years old. All of these things is the
(42:12):
partner that you should have. Again, they don't all have
to be under the same roof. They can be. We
do offer all these services, but your financial future deserves
more than I would say an emotional guess work. Hope
is not a plan. We need hope, but we need
to have a plan, a real, well structured plan that
can adapt and be modified, and that often comes with
(42:34):
the guidance from a financial advisor, a financial planner, a team,
and we are a team. It's we're not a one
trick pony shop that can hold you accountable. Again, communication
and spending the time, and we'll give you the confidence
that you.
Speaker 3 (42:50):
Deserve, absolutely the partnership that you deserve. And if you're
looking for a partner, let's get started right now. Calhaven
Financial Group. The number is six y one to two
five zero four eight four zero zero six one two
five zero four eighty four hundred. That's how you get
hold of the experts there at Haven Financial Group. You
can also go to Havenfinancialgroup dot com. You check out
(43:11):
some of those educational seminars coming up that we talked
about a brief time ago. Be sure you sign up. Remember,
you know you don't know what you don't know, so
go there, get yourself educated, get your questions answered. Sometimes,
Larry says people come and they've had a question for
years and they've waited for that opportunity to finally speak
to someone who can answer the question. If you're one
(43:32):
of those people, be sure that you sign up. Kyle Thomas,
thank you so much for being part of the show today.
Speaker 4 (43:38):
Yeah, thank you so much for having me. It was
great to be here. Absolutely, I'm great to be with you.
We'll see you next week.
Speaker 3 (43:43):
Super Thank you, Larry.
Speaker 4 (43:46):
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.
Speaker 2 (43:58):
Please consult with the qualified financial advisor and or tax
professional before implementing any strategy discussed herein and comments regarding
it safe and secure.
Speaker 1 (44:07):
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 company.
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Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.