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 Kolvick Pounder and CEO the Haven Financial Group.
Speaker 3 (01:01):
Thanks for listening.
Speaker 2 (01:02):
Feel free to give us a call this morning at
six one two five zero four eighty four hundred, or
visit us online at Havenfinancialgroup dot com.
Speaker 3 (01:10):
Kim, good to be with you.
Speaker 2 (01:11):
Summer is just moving right along, and we got a
lot to talk about today.
Speaker 4 (01:15):
Yes we do, and it sure is moving along. And
I hope you're having a good summer, Larry and all
the folks who are listening. I certainly am enjoying mine.
Speaker 3 (01:24):
Yeah, we are.
Speaker 2 (01:24):
We just had a great family vacation. My parents got
to come up to Northern Minnesota, Gull Lake and the
girls and friends and just great family and friend time.
It was exceptional.
Speaker 4 (01:35):
I feel like that's so much of what summer is about,
you know, that carefree feeling that you might have responsibilities,
but there's something about good weather and everybody gathering that
just feels a little more carefree.
Speaker 3 (01:47):
Yeah.
Speaker 2 (01:47):
And I haven't been up to northern Minnesota in quite
a while, and it's just so serene and so beautiful
and all the trees. I tend to forget that Northern
Minnesota is like that. But great experience, so good that
we booked it for next year.
Speaker 4 (01:59):
Good for you, that's terrific. Well good, I know you'll
look forward to that.
Speaker 3 (02:03):
Well.
Speaker 4 (02:04):
All of this conversation seems to just play right into
what it is that we're going to talk about this morning.
Do you love your summer in retirement? Now that might
sound like a silly question, but it really isn't because,
as we've spoken so many times here on this show, Larry,
retirement's a very different animal once you get into it
(02:24):
and once you start to live it for a period
of time.
Speaker 3 (02:27):
It is.
Speaker 2 (02:28):
It is a transition. Everybody transitions a little bit differently.
You know, we hear the good experiences the bad experiences.
Just this last week, I had a couple that was in.
He's newly retired, and I said, how is retirement? He goes,
it sucks. I'm like, oh, okay, you know, you got
to find your way. You got to find your purpose.
A lot of this stuff we're going to talk about
on this show, but it's much more than just money. However, money,
(02:51):
it takes money to be able to do a lot
of these things in the golden years. But you know
it's coming up. What are those hobbies? What are you
going to spend your time doing a lot of people
have to find their way because this is uncharted territory.
Speaker 4 (03:04):
Absolutely, and you've spent most of your life in those
working years. So the idea of calming down and slowing
down a bit can be very difficult for a lot
of people.
Speaker 3 (03:15):
We want to.
Speaker 4 (03:16):
Remind everybody Haven Financial Group is here to help you
put together a great portfolio so that you have the
money to do these care free, wonderful experiences. And you
can reach Haven Financial Group at six one two five
zero four eight four zero zero. So during the course
of this show, anything that we say that might ring
a bell for you, be sure you pick up the
(03:37):
phone and give them a call. You guys aren't just
about the money, though, You're about the experience and the happiness.
Speaker 3 (03:43):
We are. The experience is the big thing.
Speaker 2 (03:44):
Yes, we're talking all these retirement topics, and wealth management
is part of it, but you know it's also the
medicare and the healthcare and the estate planning, all these
retirement puzzle pieces. As we talk about weekly, putting it
all together, keeping things just simple as possible, because some
of this stuff can be very complicated. Our job description
is really to answer questions and help people transition into
(04:08):
these retirement years. I mean, we're not limited to the
scope of just retirees, but we're speaking to all those
that plan on retiring someday, whether you're young or old.
Speaker 3 (04:18):
Listening today.
Speaker 2 (04:19):
It's applicable because before you know it, what's the old saying,
time flies and next thing you know, you might be
talking retirement.
Speaker 4 (04:27):
Most definitely, let's take a look as we approach this
show inflation today and retirement lifestyle affordability. We're going to
talk about that, then we'll talk about retirement happiness. It
comes from habits that you make. You may not know
that find new ways to feel achievement. That's a real
challenge I think for people in retirement. Don't you just
(04:48):
finding those ways to feel like you are needed and
that you're doing something that maybe is worthwhile and not
just for yourself. And then finally, lifestyle pitfalls to avoid
while you're in retirement. So Larry, let's get started with
the idea of inflation and retirement. Folks who are retired
this summer, and maybe this is their first summer to
(05:08):
be in retirement, they are certainly having an experience that
might be different from some who retired maybe you know,
ten years ago. Inflation is a part of life today.
Speaker 2 (05:19):
Spending power of that dollar has changed great greatly, and
it could maybe creating some financial stress points in your
life because the things that you were able to purchase
maybe not able to purchase as much of And yeah,
there's certainly the pocketbooks have been affected, and there's specific
things that you know, inflation affects. You know what just
(05:41):
came out with the newest one that it went up
in June to two point seven percent, so slight uptick,
but you know, the prices haven't come down. You know,
inflation may have come down, but the prices still remain high.
So there's certain a lot of things you've got to
account for, which we're very big and making sure that
retirees have a budget, that we have some sort of
trackability that you can look at where am I spending
(06:04):
the money?
Speaker 3 (06:05):
Is it wasteful? Or what are the things that we need.
Speaker 2 (06:07):
To plan on in retirement because most retirees, not all
are on a fixed income, so figuring out where those
income streams are and where's the money going all very
very important things.
Speaker 4 (06:23):
Absolutely. Well, some of the things I'm sure that you
guys take a look at. Number one is healthcare costs
because they do fluctuate and they are a very big
part of a retirees budget.
Speaker 2 (06:32):
Healthcare is always seeming to be underestimated. People seem to
always underestimate it. The inflationary rate with medical is a
lot higher than regular inflation, So again you've got to
account for these medical expenses a little bit differently than
your actual other budget items. So healthcare, whether it's medicare,
(06:54):
bridging the gap for health care and health that medicare
is not long term care. So what about long term
care when eventually we get there. I think the statistics
show that seventy percent of us are going to go
into some sort of nursing home at some stage, and
most people haven't looked at how are they going to
fund that part of their life? Sure, and you know,
(07:15):
the joke is my kids will take care of us,
and the joke is they probably aren't going to.
Speaker 3 (07:19):
Take care of you.
Speaker 4 (07:19):
So the joke may be on you, right.
Speaker 3 (07:22):
It certainly might be.
Speaker 2 (07:23):
And that you know, I think in the Twin Cities,
twelve to fifteen thousand dollars a month for a nursing
home that can erode things and decimate your entire life
of what you worked hard for. So you know, if
you haven't looked at that, come in and visit with Glenn.
We have access to all the companies, and I think
more people should and some of the rules and laws
(07:44):
across the United States. You know, we don't want to
be a burden to our kids, but in some states,
the kids are going to be responsible if mom and
dad go into a home, and some of these rules
have changed drastically, and I think most a lot of
people need to open their eyes to it, at least
have a conversation.
Speaker 3 (08:03):
That's where it would start.
Speaker 4 (08:04):
Yeah, that's the kind of thing that nobody wants to
do to their kids. Put them in the bund when
it's all said and done, and be a burden for them.
So healthcare costs is one of the things during these
inflationary times that you might want to consider. We talked
about this before. Obviously, the cost of food and energy
and housing. We're not really seeing that change all that much, Larry,
(08:25):
And that's something people obviously need.
Speaker 2 (08:28):
The essentials, food, utilities, gas, electricity, they.
Speaker 3 (08:31):
Have not come down.
Speaker 2 (08:32):
In fact, they only go seem to go one direction
for sure, So again that might have put a wrench
in your budget. More money is going to that. Housing
costs are still expensive. I see for a lot of
folks that come in they're kind of house locked. You know,
they may be paid off their mortgage or it's a
very low balance and their interest rate's really good. They
(08:53):
want to go to one level living and I've seen
it again house locked not able to do something at
this stage. So you know, you know the inflationary numbers,
you know, I think we're looking at, you know, some
of these money markets, I yield savings accounts. I think
you're probably going to see those rates come down a
little bit. It's kind of been nice the last two
(09:14):
two and a half years to get four or five
five and a half percent on some of those. Not
sure that's going to be around. Uh, not sure it's
going to go back to where it was, which is
like we barely make pennies. But all of this has
to do with money and you know, retirement, but the
fixed income piece. That's why it's so important to get
a good grasp of where's the money going to come from?
(09:35):
Is it from a pension? If you're fortunate social security?
You know, we do a lot of classes there. What's
the right timing to turn that social security for you?
And if you're a married couple, you know, a we decision,
not just a me decision. These are all the things
that we take people through when we take them through
the Haven proprietary process, you know, looking at all these things,
(09:56):
asking a lot of questions because, yeah, you have the
essentials of the things you need, but you're going to
want a lifestyle retirements too, So what are those hobbies?
We always budget. A lot of our clients like to travel. Well,
that takes money, so we buffer it into our projections.
You know, I would ride rather over project rather than
under project that doesn't do any.
Speaker 4 (10:18):
Good, absolutely right. So, as Larry has said, you know,
if we've talked about a few of the things that
you have some concerns about related to your retirement and inflation,
and you'd like to get some answers or maybe navigate
some of these areas a little more smoothly, I can
give the folks that Haven Financial Group a call. They're
number is six one two five zero four eighty four hundred.
(10:40):
Again that's six one two five zero four eight four
zero zero. Tell me you heard us here on the radio,
and you'd like to make an appointment to come in
and see some of their experts. When we come back,
we continue this conversation about being happy this summer in
your retirement. We're going to discuss some happy habits that
you need to make to make sure that getting the
most out of the golden years. This is the Haven
(11:03):
Financial Group Radio Show.
Speaker 1 (11:05):
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 Kulvig and Kim Karragan. Now back to
(11:25):
the show.
Speaker 3 (11:27):
Welcome back, listeners.
Speaker 2 (11:28):
I'm Larry Kolvig, founder and CEO of the Haven Financial Group,
and if you're just tuning in, you're listening to the
Haven Financial Group Radio Show, where weekly we discuss crucial
retirement discussions and topics that can stem from healthcare to
nursing home to all these exciting topics, Right, Kim, maybe
not so exciting, but extremely important. Yes, So feel free
(11:52):
to give us a call at six one two five
four eighty four hundred, ask us some questions, maybe shoot
us an email at Havenfinancialgroup dot com. We'd love to
hear more from you and get you more information.
Speaker 4 (12:04):
So before we move forward, and we're going to talk
about retirement happiness and how it comes with some really
great habits that maybe you'd want to form. I want
to talk real quickly here, Larry, because we haven't had
much chance to talk about this this summer. You guys
do informational sit down teaching lessons. I'm going to call
them seminars if you will. They're open to the public.
You have to sign up and you go to Havenfinancialgroup
(12:26):
dot com. Talk a little bit about some of them
that you have coming up, and then I know in
the fall you're probably really revving up again and some
of the topics that people could attend and learn more about.
Speaker 2 (12:36):
Yeah, you can go to our website and see all
the different classes. We teach a lot of community education,
senior centers, community Education centers, Dakota County Tech, some other colleges.
Speaker 3 (12:48):
In the various.
Speaker 2 (12:49):
Classes you teach, investment classes, medicare made simple classes, social
security and tax classes. With our good State Planning partners Carrie,
Anna and Keith going to be doing wills, trust and
legacy planning in Prior Lake. So we're going to continue
to do those throughout the year. And of course it
is our tenure anniversary, our new space, our community and
(13:12):
education space. We're gonna we just booked the Burnsboo Police
Department to do a senior fraud class, and we're gonna
listen to our clients and they're gonna tell us what
other types of classes they would like to have, you know,
how to maybe read your financial statements, you know, medicare questions,
just real fun lunch and learn type of events. Because
(13:34):
people are always striving, they always have questions, and we
want to do our part to make sure that we're
doing the best we can to keep our clients and
any new clients informed. That'll give them the confidence they're
hoping for in retirement. And that's really the name of
the game. If you're listening and not getting, if you're
not getting that attention, you should be because you're paying
(13:57):
for it. And if you don't know if you have
a plan, now's a good time to come on in
and visit to see is it a plan, is it
a valid plan? Or maybe you're starting from scratch and
you've just been delaying the inevitable that hey, small, medium
or large whatever you have complicated or not complicated it
to yourself and to your spouse and to your family
(14:20):
to really check into these things.
Speaker 4 (14:21):
That you absolutely do again that number six one two
five zero four eight four zero zero. Give the folks
that Haven Financial Group a call. Tell them you heard
us here on the radio this morning. We're talking about,
you know, enjoying this summer and every summer and for
that matter, all of the seasons of the year in
your retirement. And Larry and I have talked about the
fact that it's not always just about the money. Certainly,
(14:45):
you need money to make all of this happen, but
there's more to retirement than just money and a money plan.
You've got to have a plan for you know, sort
of easing in and what you're going to do with
your time. So we want to talk about some of
those kinds of things and the things you should prioritize.
You know. Health is a really important one, Larry, because
(15:08):
as my mother has always said, if you don't have
your health, you don't have anything.
Speaker 2 (15:11):
You know, health is a game changer. Unfortunately we see
it so often just change the whole direct direction of
people's retirement. So yeah, take you know, take good care
of yourself. Exercise, you got to come up with some
sort of activity. Certainly, we found that people that retire
and find that the recliner is their only place that
they sit and don't do anything else. That usually doesn't
(15:33):
bode well, and health can deteriorate quickly. So whatever that
you know, strength training or pickleball is extremely popular. Yet
clients that play pickleball and it's a great physical activity,
you know.
Speaker 3 (15:45):
Maybe it's just take in walks.
Speaker 2 (15:47):
I have clients that love to cross country ski in
the wintertime. Developing some sort of routine because routine is important,
and that's on the health side of it. And of course, socially, Okay,
all those years of being at work, your friendships are there,
your colleagues, and now none of that.
Speaker 3 (16:08):
So what stay social?
Speaker 2 (16:09):
What do you plan on doing because obviously the social
aspect is huge.
Speaker 3 (16:14):
Just ask my wife.
Speaker 2 (16:15):
She's a social butterfly and she could visit twenty four
hours a day. By the weekend, I need a little
bit of break.
Speaker 3 (16:20):
Let's just do it.
Speaker 2 (16:21):
Let's just say that. But you got to come up
with something. So what does that social life look like.
Maybe it's education, Maybe it's years of where you've already
you were passionate about something, whether it be gardening or
whether it be I don't know, bird watching. I have
a client that loves to go up owl watching. He's
(16:41):
got some of the best pictures of all the different
types of owls. Wow, that's what his passion is. That's
what he's found in retirement.
Speaker 4 (16:48):
How about music, right, take up a learn to play
an instrument.
Speaker 2 (16:51):
We have several clients that are part of bands in retirement.
That's what they're passionate about. That's what they like to
do and it makes them happy, and happiness will make
retirement that much better. And if you're not finding yourself
the purpose in this transition to retirement again, that can
be really, really tough. So maybe it's meditation, in my
(17:12):
daily devotions, whatever it really interests you, that's what you
got to really seek out. I get a lot of
folks that love to give back in the form of
working at the nursing home, at the hospital, you know,
greeting people. Maybe that's what you're gonna find your passion
to be. But until you get there, you don't really know.
(17:33):
But again, look at all these different things I hear,
all different types of them, and quite frankly, a lot
of them interest me, some don't because we all have
different things.
Speaker 3 (17:41):
We like and dislike.
Speaker 2 (17:43):
Soely, yeah, again, finding your way is really important and
some people do a good job of it and others
really really struggle.
Speaker 4 (17:50):
Well forming these good habits, you know, And these are
just some of the habits that we're pointing out, and
they like to point out to folks who come in
and become clients that haven financial Of course, we've said
that it's not all about the money, but you know,
for some people, you know, they love they love the
idea of managing money. So you know, making sure that
(18:10):
you have a stable financial situation is something that would
be a great.
Speaker 2 (18:15):
Habit financial stability that that goes a long way.
Speaker 3 (18:19):
So it's having a plan.
Speaker 2 (18:20):
Spending money wisely can help reduce the stress and ensure
resources that last you through with the retirement. So it
comes full circle to why do we have a plan?
Do we need a plan? The answers yes. One thing
I would say that I would not recommend to listeners
is sitting in front of the TV watching doom and
(18:40):
gloom news all day long, you know, maintaining a positive
attitude and how can you in a world that's all
over the place news you know sells feared, it sells
doom and gloom, and again, how can you maintain a
positive attitude with all that, and some they just listen
to the news all day long. Now be in the know,
but don't be glued to the television all day long.
Speaker 3 (19:02):
It's it's just not going to be healthy. So whatever you.
Speaker 4 (19:07):
I was just going to say that that sort of
takes you to the idea that I think a lot
of retirees think, well, this is my future. Well that
doesn't necessarily have to be the case, right, I mean,
you can be planning for your future, planning trips, planning activities,
planning you know, other things to join or to be
a part of.
Speaker 2 (19:25):
Yeah, set goals, you know what's on your bucket list.
You know, it's why you should have an estate plan.
We strongly believe that you know wills trust and that's
why we're teaching classes on it. You know, how does
your insurance look like? Do you have adequate insurance? Have
you shopped it out every year? All of these things
we do at Haven, These are all the retirement puzzle pieces.
We truly have a non biased approach. It starts with education. Well,
(19:50):
maybe it's your medicarea. Ann You'll enrollment will be coming
around the corner pretty soon. You know, do you have
the best healthcare plan that matches what your needs and
goals are. And when I talk about goals, short term goals,
mid term goals, long term goals, you know, and again,
retirement has different seasons in it. I've heard several different speakers,
(20:14):
you know, the go Go years, the Slogo years, and
the Nogo years. You know, we see that retirees their
expenses at first are a little bit higher, then they
go down a little bit, and then healthcare they go
back up a little bit. So it's planning accordingly. And
that's where having these Monte Carlo projections simulations that we
would do with folks, people can find it very helpful.
(20:37):
And then of course am I going to run out
of money? Is it at seventy or is it ninety
or is it never? Kind of important things to know.
Speaker 4 (20:44):
You bet, they every one of them are very important
to know. So what we're saying here and the point
of this whole segment is that building the right habits
can have a huge impact on your health, on your happiness,
on your overall fulfillment when you are in retirement. Takes intention,
and it also frequently takes a partner. And for that reason,
(21:05):
we want to invite you to give the folks at
Haven Financial Group a call six one two five zero
four eight four zero zero. If you're looking for a
partner to put together a great financial plan, maybe someone
who can help you with building great habits for happiness
and health. The folks at Haven Financial Group are certainly
the place to start. Six one two five zero four
(21:27):
eight four zero zero. You can visit them at Havenfinancialgroup
dot com. You know, in retirement you need to find
ways to feel like you are reaching achievement. I think
throughout our working years we're all trying to make goals
and setting goals and you know, hopefully surpassing many of those,
(21:48):
and you have to have that feeling of achievement in
retirement as well. So we'll talk about a few ideas
about how you can do that, even beyond the financial
achievements that you that you can also strive to reach
during those golden years. You're listening to the Haven Financial Group.
Speaker 1 (22:03):
Radiation 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
(22:24):
to help you find your financial safe haven.
Speaker 2 (22:27):
Good morning, and welcome back to the Haven Financial Group
Radio show. I'm Larry Kolvig, founder and CEO of the
Haven Financial Group.
Speaker 3 (22:34):
Thanks for listening.
Speaker 2 (22:35):
Feel free to give us a call at six' one
two five zero four eighty four hundred or visit us
online At havenfinancialgroup dot. Com there's all kinds of retirement
tools our calendar of the educational. Events we certainly invite
everybody that's listening and clients and not, clients because we
can always learn something about. Retirement all the retirement puzzle,
(22:56):
pieces how are you? Doing is anybody paying? Attention which
they should, be and a lot of people are not paying.
Attention so, again we'd love to have you come in and.
Visit there's no cost to. It we'll take you through
our process like we. Do everybody ask you lots of,
questions and you ask us a lot of. Questions and
we're not a perfect fit for, Everybody, kim but we'll
(23:18):
find out if for a good. Fit and we love
to assist people and their questions and their worries and
their reservations and their. Concerns because then maybe we can
instill a little bit of.
Speaker 4 (23:29):
Confidence, absolutely we want to talk about new ways to
feel achievement while you're in. Retirement one of the great
things about retirement is that it affords you more. Time
but you don't want that time to be idle, time
because that gets old very, quickly gets, boring and it
makes People you slow down so dramatically that maybe you
miss some of the things that you need to be.
(23:50):
Doing so you want to fill that time with goals and,
expectations and you want to try to reach all of.
Those and so we thought that we would sort of
explore some of the pastimes that deliver satisfaction and maybe.
Achievement so let's talk about some of the, Things, larry
that you've heard maybe some of your clients talk. About
(24:12):
like first, off we start with the idea of you,
know engaging in social. Events you said this in the segment,
before BUT i feel confident that you have met those
who do nothing and then those who.
Speaker 2 (24:26):
Do, oh for, SURE i mean we Have unfortunately for married,
couples we lose spouses and we have a group of
ladies that they're all, friends they're, widows and they're all
part of a widows, group several clients THAT i didn't
know you were.
Speaker 3 (24:41):
HERE i didn't know you were.
Speaker 2 (24:42):
Here and at our client, events they all hang out
together and have a great. Time so it could be
something like. That you, know gardening is a very popular.
One we have numerous clients at. GARDEN i of, course
grew up in a dairy farm in west Central, minnesota
SO i grew up at a huge garden With grandpa and the.
Garden SO i like fresh, produce probably better than. Anybody
(25:03):
so that might be a passion, hiking you, know set.
Speaker 3 (25:08):
The goals that set some of your. Goals keep your body,
active keep your mind. Sharp.
Speaker 2 (25:13):
WOODWORKING i hear that one very very. Often woodworking making
THINGS i mentioned earlier in the Show, Pickleball, pickleball pickaball
my goodness. SIX i hear about the music clients were
in last. Week they're both he's retired militaries in a,
wheelchair and his wife sings in the church. Choir she loves, it,
(25:35):
man she's got an amazing. Voice maybe it's. Cooking, THANKFULLY
i married a, really, really really good, cook SO i don't.
COOK i have other strengths and other, weaknesses just like
everybody else.
Speaker 3 (25:47):
Does.
Speaker 2 (25:47):
Too for, others it's, learning continuing to, learn maybe, developing
going back and taking some. Classes in, FACT i just
had a client that never graduated from, college retired and
went and out of the. Diploma pretty, amazing pretty. Amazing
so there's a whole plethora of things that you can.
Do the problem is are you motivated to do it
(26:10):
or are you tempted not to do? Anything you, KNOW
i just hear too. OFTEN i had a client that
actually moved back To. Texas he retired from THREE. M
we have a lot of THREE m clients as, well
and he retired from THREE. M he was very, active
and afterwards he didn't transition well and his health went
right in the toilet so. Fast it was The it's
(26:33):
the saddest Thing i've ever, Seen and UNFORTUNATELY i see
that very.
Speaker 3 (26:36):
Often, so you, know maybe it's.
Speaker 2 (26:38):
Crafting what is it THAT i have a bunch of,
ladies the, clients and they go to a cabin and
they what do they call?
Speaker 4 (26:46):
That i'm not SURE i was going to say a?
Retreat but do they go for like a crafting kind of?
Speaker 2 (26:52):
Retreat, yeah it's Crafting and then they pictures in a
in a book or something like. That you could Tell
i'm not very well versed.
Speaker 4 (26:58):
At, that tell that that won't be a passion of
yours when the retirement. Comes, No, no you, KNOW i
gotta tell YOU I i love the idea of continued,
education whether that education is taking classes like you were
mentioning in you, know in, academics or if it's it's
learning To maybe you've always wanted to play the, piano
(27:21):
but you, ever you never had the time to do.
It you could not take those. Moments you raise, Kids
you're crazy with your. Career you, know you're you're doing
all of these, things and now you got a little more,
time and this is one of the things you'd love to.
Do maybe you're somebody who has always wanted to play,
golf you, know on on certain golf courses around the,
country and you sort to start to plot out each
(27:43):
year another golf course that you're going to hit and
that you're going to be able to go. To that
combines the idea of travel as well as maybe an
activity that you're passionate. About it seems to, Me, larry
these are the kinds of things that People it keeps them,
excited it keeps them, engaged it keeps them feeling as
if they're achieving something every. Day but having said all of,
(28:04):
that all of these things cost. Money so this all brings.
Us it does bring us back to the idea that
you got to have a.
Speaker 2 (28:09):
Plan all these hobbies cost. Money it needs a budget
and an income to support. It and that's why it's
important to factor in all these, things buffer in extra
funds for retirement to be able to do these.
Speaker 3 (28:24):
Things but that starts with a.
Speaker 2 (28:26):
Plan and sometimes people they feel a little sheepish coming
into a financial firm and, WELL i don't have.
Speaker 3 (28:33):
Enough i'm.
Speaker 2 (28:33):
Embarrassed i'm going to bury my head in the. Sand
the fear that we're going to try to sell them,
something which is completely. Ridiculous BUT i get. It some
people just don't like to talk about money because it's.
Uncomfortable let me encourage you get out of your comfort
zone and actually have a. Discussion you might be you
might be surprised that having a conversation that you may
(28:55):
have never had before actually makes you feel good that
you're actually discussing something out in the. Open and by the,
way if you're a married, couple make sure both of
you are. Involved i've said it before And i'll say it.
AGAIN i have met with too many widows and widowers
this year where the spouse was not involved in the.
Conversation they lost the spouse and now they had no
(29:17):
idea about. Anything you don't have to be the, expert
but if you're a married, couple please both of you.
Participate it's extremely. Important And i'm not just talking about
the monies or the, investments yes that, too but the estate,
plan putting a will, together a trust together while both
of you are, here not waiting till one of you
is gone again these, CONVERSATIONS i always say At Haven
(29:42):
financial gro we don't have a quota as to how
many times we can get. Together people, ask, well CAN
i see you once a year or twice? Year come
see us as many times as necessary to develop the
confidence that we're paying attention and you're getting the attention you.
Deserve AND i can tell you retire and is more
than a meeting once a year for forty five minutes
(30:03):
to an. Hour, sure if you're listening and that's all you're,
getting let me just tell you you're not getting the
attention you deserve and you should be getting for what you're.
Speaker 3 (30:12):
Paying and by the, way what are you?
Speaker 2 (30:14):
Paying if the answer right now IS i don't, KNOW
i would be asking that question all day.
Speaker 3 (30:20):
Long we're not afraid to answer the.
Speaker 2 (30:22):
Question nothing is, free but what value are you getting
in all these retirement? Areas most are getting very little to.
Speaker 3 (30:30):
None.
Speaker 4 (30:31):
Yeah, absolutely ask the, questions. Folks it's your money and
it's your, retirement so be sure that you ask the.
Questions you know another, Thing, larry you talk about couples
and it's so important that each of them is involved
or at least is aware of the financial plans and
situations that may. Occur but it seems like to, me
(30:51):
if you're putting together a plan for retirement that's not
about the, money but about just a plan of. Lifestyle
that's also a conversation that both need to be involved
in because what might be passionate for one may not
be a passion for the, other and that can cause, problems.
Speaker 3 (31:08):
It, can you.
Speaker 2 (31:08):
Know i'm just reminded this past Week ledora was. In
she's one of those examples where she lost her husband
seven eight months ago, now and when she came, in she,
GOES i don't know anything about my.
Speaker 3 (31:22):
Investments please help.
Speaker 2 (31:23):
Me she, Goes, lance help, me with my, taxes OUR
cpa in House glenn helped us with my. Healthcare my
husband died eight months ago and when he passed, away
he handled everything And i've spent the last eight months
trying to pick up the pieces and figure it.
Speaker 3 (31:38):
Out that's why it's so.
Speaker 2 (31:40):
Important and you, guys if you're married, couple you have
goals and aspirations that you probably will probably want to see.
Fulfilled that's why it's important to have documentation and do it. Together, Sure,
okay don't wait till it's too, late because life's, calendar
as we know it doesn't always cooperate with our. Calendar
(32:00):
life isn't a. Textbook but, again do the absolutely best
you can and have a partner that you can lean
on and hold you, accountable.
Speaker 4 (32:08):
And that could be haven financial. Group you can reach
them at six one two five zero four eight four zero.
Zero NOW i want to give you that number, again
six one two five zero four eighty four. Hundred give
them a. Call te let me heard us right here
on the. Radio you'd like to set up an, appointment come,
in sit down with the experts there and just talk
about what some of your goals are on what you
(32:29):
want to achieve in, retirement and between the folks At
haven and, you you can make the decisions as to
whether you're a perfect. Fit like Ber larry, said maybe
not all all who walk through the door a perfect
fit For haven and vice. Versa but let's give it
a call and give it a. Try six one two
five zero four eight four zero Zero coming, Up, nets
(32:50):
let's talk about lifestyle pitfalls that you definitely want to
try to avoid in retirement and for that, matter you
just want to avoid. Period this is The Haven Financial
Group Radio.
Speaker 1 (32:59):
Show don't go too. Far we're gathering more important insights
and retirement, Ways. Devin 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
(33:20):
to the.
Speaker 2 (33:20):
Show 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 celebrating our tenure anniversary this.
Month ten years. Already, Kim it's hard to, believe but
we've grown. Immensely we've been able to help lots of
lots of people and we like to give. Back my
(33:41):
wife is the office, Manager. Rachelle as you Know, kim
we love to do client events and we'll be having
our Annual charlie's On Prior lake client event Here september
fourth for our clients and then they can bring friends
and we take over the whole restaurant on The lake
and we'd just like to have, fun shop.
Speaker 3 (34:00):
Talk it's all.
Speaker 2 (34:01):
Fun so, again we like to give back and we
like to have fun with these retirement topics that are,
serious but let's make sure that they're not too.
Speaker 3 (34:11):
Serious.
Speaker 4 (34:11):
WELL i love. THAT i love that sort of family
feel that comes From Haven Financial. Group AND i think
when you're talking about something so important like people's finances
and their life after you know their working their working
world and their working, commitment and you're going into those
years that you've looked so forward, to you want to
partner in that who has your best interest in, mind
(34:35):
and the folks That Haven Financial groups certainly have your
best interest in. Mind so to this, morning we've been talking,
about you, know how to be happy this summer in
your retirement and every summer and all seasons in your
retirement And we've talked about the fact that while the
money plan is certainly, important you have to have a.
Lifestyle you have to design your own lifestyle in retirement
(34:58):
to make sure but the financial side is in good,
shape but also that anything that you're doing is impacting your,
happiness your, health and your long term. Security and so
we've talked a Lot larry, about you, know making some
plans for like achievement goals and time time spent in
(35:18):
how you want to spend that. Time we want to
talk about some of the things you want to try to,
avoid things that could maybe be a negative in your.
Retirement and the first, thing AND i think this is
really an important, one is neglecting mental health because if
you do go into retirement and you find that this
is not working for, you the idea of just ignoring
that is not going to make it.
Speaker 2 (35:39):
Better, yeah without that work related, structure you, KNOW i
hear about people with anxiety and, depression you, know cognitive,
decline and you, know stay, sharp stay mentally. Sharp AND
i think of this because in our quarterly newsletter we
sent out to our, clients we Have sudoku in the in. There,
yeah AND i took it out or one quarterly. Magazine
(36:01):
have in quarterly. MAGAZINE i took it out and manned.
IT i hear about. It needless to, say it's been
right back in forever. Since and that tells me that
they want to stay.
Speaker 3 (36:11):
Sharp they love their.
Speaker 2 (36:12):
Sudoku so the physical act activity as well as the
mental you, know, exercise and that can reduce health issues
and reduce overall it can increase the overall quality of,
life give you more. Confidence so, exercise, yeah we hear about,
it walking or whatever it might.
Speaker 3 (36:29):
Be.
Speaker 2 (36:31):
People it comes back to the sense of. Purpose all
those years of going to work feeling needed and, wanted
and now all of a sudden you hang it up
and there's nothing on the. Schedule what are you going
to fill that calendar up? With how are you going
to find your? Purpose you, know Social we talked earlier
(36:52):
about building a social. Network maybe that's joining some sort of, club, volunteer,
volunteering or whatever it might. Be, now GRANTED i meet
with people all week, long my wife, says And i'm
introvert on the, Weekends, Well i've talked to people all week.
Long she could talk to people twenty four to. Seven so,
again you have to find you know what your niche
(37:14):
is plan. Trips our family loves to, travel a lot
of our clients love to. Travel buffer it into your
financial plan because travel isn't, cheap but there might be
ways to reduce costs and take advantage of things that
are out.
Speaker 3 (37:27):
There and you, know it.
Speaker 4 (37:28):
Doesn't always have to be a you, know ridiculous trip To.
EUROPE i, mean there are so many things to see
and do that are fun and they're right in your
backyard that you were too busy all your working life
to do or.
Speaker 2 (37:40):
See we have lots of parks here in the state Of,
minnesota AND i have clients that go to national parks
and they just absolutely love. It and this isn't big ticket,
Items so it's not lavish. Spending, no if that's what
you like to do and you've budgeted for, it to
go ahead and do labbage spending if you choose. To so,
again maybe it's taken these courses or, music whatever it might,
(38:03):
be and you won't know until you get, there and
you might have to try different. Things you're not going
to have all the answers In. Minnesota i've said it many.
Times if you're a married couple or anybody really you
may not want to retire in the. Fall these winters
In Minnesota i've lived in my whole. LIFE i can't stand,
winter And i'll probably be here for the rest of my.
Speaker 3 (38:22):
Life that's.
Speaker 2 (38:22):
Okay but we find that people that do it in the,
fall they, say we wish we would have done it
in the. Spring maybe you're, married maybe you wait thirty
days rather than retire at the same. Time, okay there's
various Things i've heard in all the years that we've
done this of people wishing they would have done things.
Differently and, again having a, routine having a, purpose filling
(38:45):
that calendar. Up one THAT i do here often, though
and is, grandparenting going to all the kids, events you,
know the t ball or the. Soccer and if you've
got a big, family you better plan accordingly for that,
too because you, know with hockey and all the various
things that can occupy a lot of, time and maybe
that's exactly what you should be doing, again giving back
(39:08):
to family and friends and those are such important.
Speaker 4 (39:11):
Things, YEAH i think it's just so important for, people
especially if you've worked all of your, life to have
a reason to get out of bed each and every.
Day it really is important because you have had structure
in your, life and while you're in that, structure it
sounds so great to be care free and out of.
It but once you're out of it for a period of,
time it's important to put it back. In, larry what
(39:32):
about people who feel, like for, me WHAT i really
would like to do is have a part time. Job
how do you feel about that when they're in.
Speaker 2 (39:40):
Retirement, Hey i'm all for. It as long as you
have a part time job that you. Enjoy that it's
optional that you don't have to, work but you choose to.
Work you, KNOW i think my parents my Dad wendele's
eighty and my Mom's carols seventy.
Speaker 3 (39:58):
Seven forgive, me mom.
Speaker 2 (39:59):
IF i got it off by, year but they steal
crop farm In west And Candy, High. Minnesota, yeah every.
Year my dad's, LIKE i were in a farm one more. Year,
Dad you've been telling me that for fifteen. Years he's,
like he's, eighty and he's, like, WELL i got to do,
something and that's what he, knows and that's what they.
Do they don't have to, work but they choose to.
Work but part time job's, Fantastic but hopefully it's not
(40:21):
because you haven't financially put yourself in position to fully.
Retire you know some popular Ones, kim you know working
at the golf, course you, know getting free green, fees
you maybe, rangering maybe a. STARTER i have several that
actually mow grass and you know, what it's, peaceful they're,
outdoors they get to play free. Golf so part time,
(40:44):
job all for it if you so choose.
Speaker 4 (40:46):
Right and keep in, mind, folks if maybe a part time.
JOB i mean some people want a part time job
because you just feel fulfilled if you get a. Check you,
know that's just a part of who you. Are it's
in YOUR. Dna but you also would like to talk
to a partner Like larry and the team there At
Haven Financial group before you take on that part time,
job because you do want to make sure that the
(41:07):
ramifications of that paycheck may not be negative on your. Portfolio.
Speaker 2 (41:13):
Yeah and another reason what people do is for, healthcare
if there's any type of insurance that's, available because again,
healthcare healthcare is, expensive and AGAIN i say it, again
people underestimate. It so maybe you're not quite the sixty.
Five maybe you got a pink slip and you retired
earlier than you. Anticipated now you get to bridge the
gap for. Healthcare by the, way we can help you with,
(41:34):
that and we have all the companies to choose, from
but plan. Accordingly so, again maybe you have that part
time job for that, reason and a part time job
with a little bit of, income maybe that actually enhances
your overall retirement financial. Plan maybe it stretches your money's out.
Longer and, again if you don't have a, plan how
(41:56):
do you even answer that. Question so my encouragement would be,
again a failure to plan is a plan to. Fail
nobody wants to. Fail but maybe now is the time
to have the. Conversation or maybe you've just put it
on the shelf for the last ten fifteen. Years now
let's have a conversation to see how you're. Doing, sure,
again it's better to have the conversation to know then
(42:18):
get there and, go, oh my, goodness we did not plan.
Well and now your retirement doesn't look like your neighbors
or your. Friends and, again whether you have a lot
or a, little or anything in, between young or, old
it's not too, early it's not too. Late it's never too.
Early but just to make sure you don't wait till
it's too, late.
Speaker 4 (42:38):
Sure absolutely. So if you are thinking about if you
are close to maybe you're young and you're just thinking
you want to start, now but you need a retirement,
portfolio and you're, thinking MAYBE i don't have the kind
of plan THAT i. Need maybe you have a plan
and now you're wondering if it needs. Review maybe it's
(43:00):
just want a new partner in all of this and
some fresh. Ideas six one two five zero four eight
four zero zero is the number you. Call you can
reach the folks At Haven Financial. Group you tell them
that you heard The Haven Financial group radio show and
that you'd like to come in make an, appointment sit
down with someone and talk about what you would like
and how you see your retirement playing out and when
(43:22):
you put that plan. Together, folks remember the financial part
of it is very, important but you also want to
make sure that you've put together a lifestyle that is,
fun that's, healthy and that's good for. You, larry this
has been so.
Speaker 3 (43:36):
Fun it has been every week's. Fun.
Speaker 2 (43:39):
Again they have nothing to learn and come on in
on any of the retirement puzzle. PIECES i reiterate from
the estate. Plan maybe you've been putting that. Off maybe
you want tottend some of our. Classes go to our
website see our, classes a variety of. Them maybe it's
long term, care we touched on that. Earlier maybe exploring
that or getting educated on the various things that are out.
There maybe it's life insurance reviews that you haven't really paid,
(44:00):
attention wealth, management rebalancing the, portfolio, whatever those re retirement puzzle.
Speaker 3 (44:06):
Pieces that's what our job.
Speaker 2 (44:08):
Description and we're very blessed and fortunate to be able
to help lots of, people and maybe that can be.
Speaker 4 (44:13):
You, Terrific, larry have a great week.
Speaker 3 (44:17):
You as, Well, Cam thank you so.
Speaker 4 (44:18):
Much investment advisory service is offered Through Guardian Wealth 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
(44:39):
herein and comments regarding it safe and secure investments and
guaranteed income streams only refer to fixed insurance.
Speaker 1 (44:45):
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 Kolvick Pounder and CEO the Haven Financial Group.
Speaker 3 (01:01):
Thanks for listening.
Speaker 2 (01:02):
Feel free to give us a call this morning at
six one two five zero four eighty four hundred, or
visit us online at Havenfinancialgroup dot com.
Speaker 3 (01:10):
Kim, good to be with you.
Speaker 2 (01:11):
Summer is just moving right along, and we got a
lot to talk about today.
Speaker 4 (01:15):
Yes we do, and it sure is moving along. And
I hope you're having a good summer, Larry and all
the folks who are listening. I certainly am enjoying mine.
Speaker 3 (01:24):
Yeah, we are.
Speaker 2 (01:24):
We just had a great family vacation. My parents got
to come up to Northern Minnesota, Gull Lake and the
girls and friends and just great family and friend time.
It was exceptional.
Speaker 4 (01:35):
I feel like that's so much of what summer is about,
you know, that carefree feeling that you might have responsibilities,
but there's something about good weather and everybody gathering that
just feels a little more carefree.
Speaker 3 (01:47):
Yeah.
Speaker 2 (01:47):
And I haven't been up to northern Minnesota in quite
a while, and it's just so serene and so beautiful
and all the trees. I tend to forget that Northern
Minnesota is like that. But great experience, so good that
we booked it for next year.
Speaker 4 (01:59):
Good for you, that's terrific. Well good, I know you'll
look forward to that.
Speaker 3 (02:03):
Well.
Speaker 4 (02:04):
All of this conversation seems to just play right into
what it is that we're going to talk about this morning.
Do you love your summer in retirement? Now that might
sound like a silly question, but it really isn't because,
as we've spoken so many times here on this show, Larry,
retirement's a very different animal once you get into it
(02:24):
and once you start to live it for a period
of time.
Speaker 3 (02:27):
It is.
Speaker 2 (02:28):
It is a transition. Everybody transitions a little bit differently.
You know, we hear the good experiences the bad experiences.
Just this last week, I had a couple that was in.
He's newly retired, and I said, how is retirement? He goes,
it sucks. I'm like, oh, okay, you know, you got
to find your way. You got to find your purpose.
A lot of this stuff we're going to talk about
on this show, but it's much more than just money. However, money,
(02:51):
it takes money to be able to do a lot
of these things in the golden years. But you know
it's coming up. What are those hobbies? What are you
going to spend your time doing a lot of people
have to find their way because this is uncharted territory.
Speaker 4 (03:04):
Absolutely, and you've spent most of your life in those
working years. So the idea of calming down and slowing
down a bit can be very difficult for a lot
of people.
Speaker 3 (03:15):
We want to.
Speaker 4 (03:16):
Remind everybody Haven Financial Group is here to help you
put together a great portfolio so that you have the
money to do these care free, wonderful experiences. And you
can reach Haven Financial Group at six one two five
zero four eight four zero zero. So during the course
of this show, anything that we say that might ring
a bell for you, be sure you pick up the
(03:37):
phone and give them a call. You guys aren't just
about the money, though, You're about the experience and the happiness.
Speaker 3 (03:43):
We are. The experience is the big thing.
Speaker 2 (03:44):
Yes, we're talking all these retirement topics, and wealth management
is part of it, but you know it's also the
medicare and the healthcare and the estate planning, all these
retirement puzzle pieces. As we talk about weekly, putting it
all together, keeping things just simple as possible, because some
of this stuff can be very complicated. Our job description
is really to answer questions and help people transition into
(04:08):
these retirement years. I mean, we're not limited to the
scope of just retirees, but we're speaking to all those
that plan on retiring someday, whether you're young or old.
Speaker 3 (04:18):
Listening today.
Speaker 2 (04:19):
It's applicable because before you know it, what's the old saying,
time flies and next thing you know, you might be
talking retirement.
Speaker 4 (04:27):
Most definitely, let's take a look as we approach this
show inflation today and retirement lifestyle affordability. We're going to
talk about that, then we'll talk about retirement happiness. It
comes from habits that you make. You may not know
that find new ways to feel achievement. That's a real
challenge I think for people in retirement. Don't you just
(04:48):
finding those ways to feel like you are needed and
that you're doing something that maybe is worthwhile and not
just for yourself. And then finally, lifestyle pitfalls to avoid
while you're in retirement. So Larry, let's get started with
the idea of inflation and retirement. Folks who are retired
this summer, and maybe this is their first summer to
(05:08):
be in retirement, they are certainly having an experience that
might be different from some who retired maybe you know,
ten years ago. Inflation is a part of life today.
Speaker 2 (05:19):
Spending power of that dollar has changed great greatly, and
it could maybe creating some financial stress points in your
life because the things that you were able to purchase
maybe not able to purchase as much of And yeah,
there's certainly the pocketbooks have been affected, and there's specific
things that you know, inflation affects. You know what just
(05:41):
came out with the newest one that it went up
in June to two point seven percent, so slight uptick,
but you know, the prices haven't come down. You know,
inflation may have come down, but the prices still remain high.
So there's certain a lot of things you've got to
account for, which we're very big and making sure that
retirees have a budget, that we have some sort of
trackability that you can look at where am I spending
(06:04):
the money?
Speaker 3 (06:05):
Is it wasteful? Or what are the things that we need.
Speaker 2 (06:07):
To plan on in retirement because most retirees, not all
are on a fixed income, so figuring out where those
income streams are and where's the money going all very
very important things.
Speaker 4 (06:23):
Absolutely. Well, some of the things I'm sure that you
guys take a look at. Number one is healthcare costs
because they do fluctuate and they are a very big
part of a retirees budget.
Speaker 2 (06:32):
Healthcare is always seeming to be underestimated. People seem to
always underestimate it. The inflationary rate with medical is a
lot higher than regular inflation, So again you've got to
account for these medical expenses a little bit differently than
your actual other budget items. So healthcare, whether it's medicare,
(06:54):
bridging the gap for health care and health that medicare
is not long term care. So what about long term
care when eventually we get there. I think the statistics
show that seventy percent of us are going to go
into some sort of nursing home at some stage, and
most people haven't looked at how are they going to
fund that part of their life? Sure, and you know,
(07:15):
the joke is my kids will take care of us,
and the joke is they probably aren't going to.
Speaker 3 (07:19):
Take care of you.
Speaker 4 (07:19):
So the joke may be on you, right.
Speaker 3 (07:22):
It certainly might be.
Speaker 2 (07:23):
And that you know, I think in the Twin Cities,
twelve to fifteen thousand dollars a month for a nursing
home that can erode things and decimate your entire life
of what you worked hard for. So you know, if
you haven't looked at that, come in and visit with Glenn.
We have access to all the companies, and I think
more people should and some of the rules and laws
(07:44):
across the United States. You know, we don't want to
be a burden to our kids, but in some states,
the kids are going to be responsible if mom and
dad go into a home, and some of these rules
have changed drastically, and I think most a lot of
people need to open their eyes to it, at least
have a conversation.
Speaker 3 (08:03):
That's where it would start.
Speaker 4 (08:04):
Yeah, that's the kind of thing that nobody wants to
do to their kids. Put them in the bund when
it's all said and done, and be a burden for them.
So healthcare costs is one of the things during these
inflationary times that you might want to consider. We talked
about this before. Obviously, the cost of food and energy
and housing. We're not really seeing that change all that much, Larry,
(08:25):
And that's something people obviously need.
Speaker 2 (08:28):
The essentials, food, utilities, gas, electricity, they.
Speaker 3 (08:31):
Have not come down.
Speaker 2 (08:32):
In fact, they only go seem to go one direction
for sure, So again that might have put a wrench
in your budget. More money is going to that. Housing
costs are still expensive. I see for a lot of
folks that come in they're kind of house locked. You know,
they may be paid off their mortgage or it's a
very low balance and their interest rate's really good. They
(08:53):
want to go to one level living and I've seen
it again house locked not able to do something at
this stage. So you know, you know the inflationary numbers,
you know, I think we're looking at, you know, some
of these money markets, I yield savings accounts. I think
you're probably going to see those rates come down a
little bit. It's kind of been nice the last two
(09:14):
two and a half years to get four or five
five and a half percent on some of those. Not
sure that's going to be around. Uh, not sure it's
going to go back to where it was, which is
like we barely make pennies. But all of this has
to do with money and you know, retirement, but the
fixed income piece. That's why it's so important to get
a good grasp of where's the money going to come from?
(09:35):
Is it from a pension? If you're fortunate social security?
You know, we do a lot of classes there. What's
the right timing to turn that social security for you?
And if you're a married couple, you know, a we decision,
not just a me decision. These are all the things
that we take people through when we take them through
the Haven proprietary process, you know, looking at all these things,
(09:56):
asking a lot of questions because, yeah, you have the
essentials of the things you need, but you're going to
want a lifestyle retirements too, So what are those hobbies?
We always budget. A lot of our clients like to travel. Well,
that takes money, so we buffer it into our projections.
You know, I would ride rather over project rather than
under project that doesn't do any.
Speaker 4 (10:18):
Good, absolutely right. So, as Larry has said, you know,
if we've talked about a few of the things that
you have some concerns about related to your retirement and inflation,
and you'd like to get some answers or maybe navigate
some of these areas a little more smoothly, I can
give the folks that Haven Financial Group a call. They're
number is six one two five zero four eighty four hundred.
(10:40):
Again that's six one two five zero four eight four
zero zero. Tell me you heard us here on the radio,
and you'd like to make an appointment to come in
and see some of their experts. When we come back,
we continue this conversation about being happy this summer in
your retirement. We're going to discuss some happy habits that
you need to make to make sure that getting the
most out of the golden years. This is the Haven
(11:03):
Financial Group Radio Show.
Speaker 1 (11:05):
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 Kulvig and Kim Karragan. Now back to
(11:25):
the show.
Speaker 3 (11:27):
Welcome back, listeners.
Speaker 2 (11:28):
I'm Larry Kolvig, founder and CEO of the Haven Financial Group,
and if you're just tuning in, you're listening to the
Haven Financial Group Radio Show, where weekly we discuss crucial
retirement discussions and topics that can stem from healthcare to
nursing home to all these exciting topics, Right, Kim, maybe
not so exciting, but extremely important. Yes, So feel free
(11:52):
to give us a call at six one two five
four eighty four hundred, ask us some questions, maybe shoot
us an email at Havenfinancialgroup dot com. We'd love to
hear more from you and get you more information.
Speaker 4 (12:04):
So before we move forward, and we're going to talk
about retirement happiness and how it comes with some really
great habits that maybe you'd want to form. I want
to talk real quickly here, Larry, because we haven't had
much chance to talk about this this summer. You guys
do informational sit down teaching lessons. I'm going to call
them seminars if you will. They're open to the public.
You have to sign up and you go to Havenfinancialgroup
(12:26):
dot com. Talk a little bit about some of them
that you have coming up, and then I know in
the fall you're probably really revving up again and some
of the topics that people could attend and learn more about.
Speaker 2 (12:36):
Yeah, you can go to our website and see all
the different classes. We teach a lot of community education,
senior centers, community Education centers, Dakota County Tech, some other colleges.
Speaker 3 (12:48):
In the various.
Speaker 2 (12:49):
Classes you teach, investment classes, medicare made simple classes, social
security and tax classes. With our good State Planning partners Carrie,
Anna and Keith going to be doing wills, trust and
legacy planning in Prior Lake. So we're going to continue
to do those throughout the year. And of course it
is our tenure anniversary, our new space, our community and
(13:12):
education space. We're gonna we just booked the Burnsboo Police
Department to do a senior fraud class, and we're gonna
listen to our clients and they're gonna tell us what
other types of classes they would like to have, you know,
how to maybe read your financial statements, you know, medicare questions,
just real fun lunch and learn type of events. Because
(13:34):
people are always striving, they always have questions, and we
want to do our part to make sure that we're
doing the best we can to keep our clients and
any new clients informed. That'll give them the confidence they're
hoping for in retirement. And that's really the name of
the game. If you're listening and not getting, if you're
not getting that attention, you should be because you're paying
(13:57):
for it. And if you don't know if you have
a plan, now's a good time to come on in
and visit to see is it a plan, is it
a valid plan? Or maybe you're starting from scratch and
you've just been delaying the inevitable that hey, small, medium
or large whatever you have complicated or not complicated it
to yourself and to your spouse and to your family
(14:20):
to really check into these things.
Speaker 4 (14:21):
That you absolutely do again that number six one two
five zero four eight four zero zero. Give the folks
that Haven Financial Group a call. Tell them you heard
us here on the radio this morning. We're talking about,
you know, enjoying this summer and every summer and for
that matter, all of the seasons of the year in
your retirement. And Larry and I have talked about the
fact that it's not always just about the money. Certainly,
(14:45):
you need money to make all of this happen, but
there's more to retirement than just money and a money plan.
You've got to have a plan for you know, sort
of easing in and what you're going to do with
your time. So we want to talk about some of
those kinds of things and the things you should prioritize.
You know. Health is a really important one, Larry, because
(15:08):
as my mother has always said, if you don't have
your health, you don't have anything.
Speaker 2 (15:11):
You know, health is a game changer. Unfortunately we see
it so often just change the whole direct direction of
people's retirement. So yeah, take you know, take good care
of yourself. Exercise, you got to come up with some
sort of activity. Certainly, we found that people that retire
and find that the recliner is their only place that
they sit and don't do anything else. That usually doesn't
(15:33):
bode well, and health can deteriorate quickly. So whatever that
you know, strength training or pickleball is extremely popular. Yet
clients that play pickleball and it's a great physical activity,
you know.
Speaker 3 (15:45):
Maybe it's just take in walks.
Speaker 2 (15:47):
I have clients that love to cross country ski in
the wintertime. Developing some sort of routine because routine is important,
and that's on the health side of it. And of course, socially, Okay,
all those years of being at work, your friendships are there,
your colleagues, and now none of that.
Speaker 3 (16:08):
So what stay social?
Speaker 2 (16:09):
What do you plan on doing because obviously the social
aspect is huge.
Speaker 3 (16:14):
Just ask my wife.
Speaker 2 (16:15):
She's a social butterfly and she could visit twenty four
hours a day. By the weekend, I need a little
bit of break.
Speaker 3 (16:20):
Let's just do it.
Speaker 2 (16:21):
Let's just say that. But you got to come up
with something. So what does that social life look like.
Maybe it's education, Maybe it's years of where you've already
you were passionate about something, whether it be gardening or
whether it be I don't know, bird watching. I have
a client that loves to go up owl watching. He's
(16:41):
got some of the best pictures of all the different
types of owls. Wow, that's what his passion is. That's
what he's found in retirement.
Speaker 4 (16:48):
How about music, right, take up a learn to play
an instrument.
Speaker 2 (16:51):
We have several clients that are part of bands in retirement.
That's what they're passionate about. That's what they like to
do and it makes them happy, and happiness will make
retirement that much better. And if you're not finding yourself
the purpose in this transition to retirement again, that can
be really, really tough. So maybe it's meditation, in my
(17:12):
daily devotions, whatever it really interests you, that's what you
got to really seek out. I get a lot of
folks that love to give back in the form of
working at the nursing home, at the hospital, you know,
greeting people. Maybe that's what you're gonna find your passion
to be. But until you get there, you don't really know.
(17:33):
But again, look at all these different things I hear,
all different types of them, and quite frankly, a lot
of them interest me, some don't because we all have
different things.
Speaker 3 (17:41):
We like and dislike.
Speaker 2 (17:43):
Soely, yeah, again, finding your way is really important and
some people do a good job of it and others
really really struggle.
Speaker 4 (17:50):
Well forming these good habits, you know, And these are
just some of the habits that we're pointing out, and
they like to point out to folks who come in
and become clients that haven financial Of course, we've said
that it's not all about the money, but you know,
for some people, you know, they love they love the
idea of managing money. So you know, making sure that
(18:10):
you have a stable financial situation is something that would
be a great.
Speaker 2 (18:15):
Habit financial stability that that goes a long way.
Speaker 3 (18:19):
So it's having a plan.
Speaker 2 (18:20):
Spending money wisely can help reduce the stress and ensure
resources that last you through with the retirement. So it
comes full circle to why do we have a plan?
Do we need a plan? The answers yes. One thing
I would say that I would not recommend to listeners
is sitting in front of the TV watching doom and
(18:40):
gloom news all day long, you know, maintaining a positive
attitude and how can you in a world that's all
over the place news you know sells feared, it sells
doom and gloom, and again, how can you maintain a
positive attitude with all that, and some they just listen
to the news all day long. Now be in the know,
but don't be glued to the television all day long.
Speaker 3 (19:02):
It's it's just not going to be healthy. So whatever you.
Speaker 4 (19:07):
I was just going to say that that sort of
takes you to the idea that I think a lot
of retirees think, well, this is my future. Well that
doesn't necessarily have to be the case, right, I mean,
you can be planning for your future, planning trips, planning activities,
planning you know, other things to join or to be
a part of.
Speaker 2 (19:25):
Yeah, set goals, you know what's on your bucket list.
You know, it's why you should have an estate plan.
We strongly believe that you know wills trust and that's
why we're teaching classes on it. You know, how does
your insurance look like? Do you have adequate insurance? Have
you shopped it out every year? All of these things
we do at Haven, These are all the retirement puzzle pieces.
We truly have a non biased approach. It starts with education. Well,
(19:50):
maybe it's your medicarea. Ann You'll enrollment will be coming
around the corner pretty soon. You know, do you have
the best healthcare plan that matches what your needs and
goals are. And when I talk about goals, short term goals,
mid term goals, long term goals, you know, and again,
retirement has different seasons in it. I've heard several different speakers,
(20:14):
you know, the go Go years, the Slogo years, and
the Nogo years. You know, we see that retirees their
expenses at first are a little bit higher, then they
go down a little bit, and then healthcare they go
back up a little bit. So it's planning accordingly. And
that's where having these Monte Carlo projections simulations that we
would do with folks, people can find it very helpful.
(20:37):
And then of course am I going to run out
of money? Is it at seventy or is it ninety
or is it never? Kind of important things to know.
Speaker 4 (20:44):
You bet, they every one of them are very important
to know. So what we're saying here and the point
of this whole segment is that building the right habits
can have a huge impact on your health, on your happiness,
on your overall fulfillment when you are in retirement. Takes intention,
and it also frequently takes a partner. And for that reason,
(21:05):
we want to invite you to give the folks at
Haven Financial Group a call six one two five zero
four eight four zero zero. If you're looking for a
partner to put together a great financial plan, maybe someone
who can help you with building great habits for happiness
and health. The folks at Haven Financial Group are certainly
the place to start. Six one two five zero four
(21:27):
eight four zero zero. You can visit them at Havenfinancialgroup
dot com. You know, in retirement you need to find
ways to feel like you are reaching achievement. I think
throughout our working years we're all trying to make goals
and setting goals and you know, hopefully surpassing many of those,
(21:48):
and you have to have that feeling of achievement in
retirement as well. So we'll talk about a few ideas
about how you can do that, even beyond the financial
achievements that you that you can also strive to reach
during those golden years. You're listening to the Haven Financial Group.
Speaker 1 (22:03):
Radiation 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
(22:24):
to help you find your financial safe haven.
Speaker 2 (22:27):
Good morning, and welcome back to the Haven Financial Group
Radio show. I'm Larry Kolvig, founder and CEO of the
Haven Financial Group.
Speaker 3 (22:34):
Thanks for listening.
Speaker 2 (22:35):
Feel free to give us a call at six' one
two five zero four eighty four hundred or visit us
online At havenfinancialgroup dot. Com there's all kinds of retirement
tools our calendar of the educational. Events we certainly invite
everybody that's listening and clients and not, clients because we
can always learn something about. Retirement all the retirement puzzle,
(22:56):
pieces how are you? Doing is anybody paying? Attention which
they should, be and a lot of people are not paying.
Attention so, again we'd love to have you come in and.
Visit there's no cost to. It we'll take you through
our process like we. Do everybody ask you lots of,
questions and you ask us a lot of. Questions and
we're not a perfect fit for, Everybody, kim but we'll
(23:18):
find out if for a good. Fit and we love
to assist people and their questions and their worries and
their reservations and their. Concerns because then maybe we can
instill a little bit of.
Speaker 4 (23:29):
Confidence, absolutely we want to talk about new ways to
feel achievement while you're in. Retirement one of the great
things about retirement is that it affords you more. Time
but you don't want that time to be idle, time
because that gets old very, quickly gets, boring and it
makes People you slow down so dramatically that maybe you
miss some of the things that you need to be.
(23:50):
Doing so you want to fill that time with goals and,
expectations and you want to try to reach all of.
Those and so we thought that we would sort of
explore some of the pastimes that deliver satisfaction and maybe.
Achievement so let's talk about some of the, Things, larry
that you've heard maybe some of your clients talk. About
(24:12):
like first, off we start with the idea of you,
know engaging in social. Events you said this in the segment,
before BUT i feel confident that you have met those
who do nothing and then those who.
Speaker 2 (24:26):
Do, oh for, SURE i mean we Have unfortunately for married,
couples we lose spouses and we have a group of
ladies that they're all, friends they're, widows and they're all
part of a widows, group several clients THAT i didn't
know you were.
Speaker 3 (24:41):
HERE i didn't know you were.
Speaker 2 (24:42):
Here and at our client, events they all hang out
together and have a great. Time so it could be
something like. That you, know gardening is a very popular.
One we have numerous clients at. GARDEN i of, course
grew up in a dairy farm in west Central, minnesota
SO i grew up at a huge garden With grandpa and the.
Garden SO i like fresh, produce probably better than. Anybody
(25:03):
so that might be a passion, hiking you, know set.
Speaker 3 (25:08):
The goals that set some of your. Goals keep your body,
active keep your mind. Sharp.
Speaker 2 (25:13):
WOODWORKING i hear that one very very. Often woodworking making
THINGS i mentioned earlier in the Show, Pickleball, pickleball pickaball
my goodness. SIX i hear about the music clients were
in last. Week they're both he's retired militaries in a,
wheelchair and his wife sings in the church. Choir she loves, it,
(25:35):
man she's got an amazing. Voice maybe it's. Cooking, THANKFULLY
i married a, really, really really good, cook SO i don't.
COOK i have other strengths and other, weaknesses just like
everybody else.
Speaker 3 (25:47):
Does.
Speaker 2 (25:47):
Too for, others it's, learning continuing to, learn maybe, developing
going back and taking some. Classes in, FACT i just
had a client that never graduated from, college retired and
went and out of the. Diploma pretty, amazing pretty. Amazing
so there's a whole plethora of things that you can.
Do the problem is are you motivated to do it
(26:10):
or are you tempted not to do? Anything you, KNOW
i just hear too. OFTEN i had a client that
actually moved back To. Texas he retired from THREE. M
we have a lot of THREE m clients as, well
and he retired from THREE. M he was very, active
and afterwards he didn't transition well and his health went
right in the toilet so. Fast it was The it's
(26:33):
the saddest Thing i've ever, Seen and UNFORTUNATELY i see
that very.
Speaker 3 (26:36):
Often, so you, know maybe it's.
Speaker 2 (26:38):
Crafting what is it THAT i have a bunch of,
ladies the, clients and they go to a cabin and
they what do they call?
Speaker 4 (26:46):
That i'm not SURE i was going to say a?
Retreat but do they go for like a crafting kind of?
Speaker 2 (26:52):
Retreat, yeah it's Crafting and then they pictures in a
in a book or something like. That you could Tell
i'm not very well versed.
Speaker 4 (26:58):
At, that tell that that won't be a passion of
yours when the retirement. Comes, No, no you, KNOW i
gotta tell YOU I i love the idea of continued,
education whether that education is taking classes like you were
mentioning in you, know in, academics or if it's it's
learning To maybe you've always wanted to play the, piano
(27:21):
but you, ever you never had the time to do.
It you could not take those. Moments you raise, Kids
you're crazy with your. Career you, know you're you're doing
all of these, things and now you got a little more,
time and this is one of the things you'd love to.
Do maybe you're somebody who has always wanted to play,
golf you, know on on certain golf courses around the,
country and you sort to start to plot out each
(27:43):
year another golf course that you're going to hit and
that you're going to be able to go. To that
combines the idea of travel as well as maybe an
activity that you're passionate. About it seems to, Me, larry
these are the kinds of things that People it keeps them,
excited it keeps them, engaged it keeps them feeling as
if they're achieving something every. Day but having said all of,
(28:04):
that all of these things cost. Money so this all brings.
Us it does bring us back to the idea that
you got to have a.
Speaker 2 (28:09):
Plan all these hobbies cost. Money it needs a budget
and an income to support. It and that's why it's
important to factor in all these, things buffer in extra
funds for retirement to be able to do these.
Speaker 3 (28:24):
Things but that starts with a.
Speaker 2 (28:26):
Plan and sometimes people they feel a little sheepish coming
into a financial firm and, WELL i don't have.
Speaker 3 (28:33):
Enough i'm.
Speaker 2 (28:33):
Embarrassed i'm going to bury my head in the. Sand
the fear that we're going to try to sell them,
something which is completely. Ridiculous BUT i get. It some
people just don't like to talk about money because it's.
Uncomfortable let me encourage you get out of your comfort
zone and actually have a. Discussion you might be you
might be surprised that having a conversation that you may
(28:55):
have never had before actually makes you feel good that
you're actually discussing something out in the. Open and by the,
way if you're a married, couple make sure both of
you are. Involved i've said it before And i'll say it.
AGAIN i have met with too many widows and widowers
this year where the spouse was not involved in the.
Conversation they lost the spouse and now they had no
(29:17):
idea about. Anything you don't have to be the, expert
but if you're a married, couple please both of you.
Participate it's extremely. Important And i'm not just talking about
the monies or the, investments yes that, too but the estate,
plan putting a will, together a trust together while both
of you are, here not waiting till one of you
is gone again these, CONVERSATIONS i always say At Haven
(29:42):
financial gro we don't have a quota as to how
many times we can get. Together people, ask, well CAN
i see you once a year or twice? Year come
see us as many times as necessary to develop the
confidence that we're paying attention and you're getting the attention you.
Deserve AND i can tell you retire and is more
than a meeting once a year for forty five minutes
(30:03):
to an. Hour, sure if you're listening and that's all you're,
getting let me just tell you you're not getting the
attention you deserve and you should be getting for what you're.
Speaker 3 (30:12):
Paying and by the, way what are you?
Speaker 2 (30:14):
Paying if the answer right now IS i don't, KNOW
i would be asking that question all day.
Speaker 3 (30:20):
Long we're not afraid to answer the.
Speaker 2 (30:22):
Question nothing is, free but what value are you getting
in all these retirement? Areas most are getting very little to.
Speaker 3 (30:30):
None.
Speaker 4 (30:31):
Yeah, absolutely ask the, questions. Folks it's your money and
it's your, retirement so be sure that you ask the.
Questions you know another, Thing, larry you talk about couples
and it's so important that each of them is involved
or at least is aware of the financial plans and
situations that may. Occur but it seems like to, me
(30:51):
if you're putting together a plan for retirement that's not
about the, money but about just a plan of. Lifestyle
that's also a conversation that both need to be involved
in because what might be passionate for one may not
be a passion for the, other and that can cause, problems.
Speaker 3 (31:08):
It, can you.
Speaker 2 (31:08):
Know i'm just reminded this past Week ledora was. In
she's one of those examples where she lost her husband
seven eight months ago, now and when she came, in she,
GOES i don't know anything about my.
Speaker 3 (31:22):
Investments please help.
Speaker 2 (31:23):
Me she, Goes, lance help, me with my, taxes OUR
cpa in House glenn helped us with my. Healthcare my
husband died eight months ago and when he passed, away
he handled everything And i've spent the last eight months
trying to pick up the pieces and figure it.
Speaker 3 (31:38):
Out that's why it's so.
Speaker 2 (31:40):
Important and you, guys if you're married, couple you have
goals and aspirations that you probably will probably want to see.
Fulfilled that's why it's important to have documentation and do it. Together, Sure,
okay don't wait till it's too, late because life's, calendar
as we know it doesn't always cooperate with our. Calendar
(32:00):
life isn't a. Textbook but, again do the absolutely best
you can and have a partner that you can lean
on and hold you, accountable.
Speaker 4 (32:08):
And that could be haven financial. Group you can reach
them at six one two five zero four eight four zero.
Zero NOW i want to give you that number, again
six one two five zero four eighty four. Hundred give
them a. Call te let me heard us right here
on the. Radio you'd like to set up an, appointment come,
in sit down with the experts there and just talk
about what some of your goals are on what you
(32:29):
want to achieve in, retirement and between the folks At
haven and, you you can make the decisions as to
whether you're a perfect. Fit like Ber larry, said maybe
not all all who walk through the door a perfect
fit For haven and vice. Versa but let's give it
a call and give it a. Try six one two
five zero four eight four zero Zero coming, Up, nets
(32:50):
let's talk about lifestyle pitfalls that you definitely want to
try to avoid in retirement and for that, matter you
just want to avoid. Period this is The Haven Financial
Group Radio.
Speaker 1 (32:59):
Show don't go too. Far we're gathering more important insights
and retirement, Ways. Devin 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
(33:20):
to the.
Speaker 2 (33:20):
Show 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 celebrating our tenure anniversary this.
Month ten years. Already, Kim it's hard to, believe but
we've grown. Immensely we've been able to help lots of
lots of people and we like to give. Back my
(33:41):
wife is the office, Manager. Rachelle as you Know, kim
we love to do client events and we'll be having
our Annual charlie's On Prior lake client event Here september
fourth for our clients and then they can bring friends
and we take over the whole restaurant on The lake
and we'd just like to have, fun shop.
Speaker 3 (34:00):
Talk it's all.
Speaker 2 (34:01):
Fun so, again we like to give back and we
like to have fun with these retirement topics that are,
serious but let's make sure that they're not too.
Speaker 3 (34:11):
Serious.
Speaker 4 (34:11):
WELL i love. THAT i love that sort of family
feel that comes From Haven Financial. Group AND i think
when you're talking about something so important like people's finances
and their life after you know their working their working
world and their working, commitment and you're going into those
years that you've looked so forward, to you want to
partner in that who has your best interest in, mind
(34:35):
and the folks That Haven Financial groups certainly have your
best interest in. Mind so to this, morning we've been talking,
about you, know how to be happy this summer in
your retirement and every summer and all seasons in your
retirement And we've talked about the fact that while the
money plan is certainly, important you have to have a.
Lifestyle you have to design your own lifestyle in retirement
(34:58):
to make sure but the financial side is in good,
shape but also that anything that you're doing is impacting your,
happiness your, health and your long term. Security and so
we've talked a Lot larry, about you, know making some
plans for like achievement goals and time time spent in
(35:18):
how you want to spend that. Time we want to
talk about some of the things you want to try to,
avoid things that could maybe be a negative in your.
Retirement and the first, thing AND i think this is
really an important, one is neglecting mental health because if
you do go into retirement and you find that this
is not working for, you the idea of just ignoring
that is not going to make it.
Speaker 2 (35:39):
Better, yeah without that work related, structure you, KNOW i
hear about people with anxiety and, depression you, know cognitive,
decline and you, know stay, sharp stay mentally. Sharp AND
i think of this because in our quarterly newsletter we
sent out to our, clients we Have sudoku in the in. There,
yeah AND i took it out or one quarterly. Magazine
(36:01):
have in quarterly. MAGAZINE i took it out and manned.
IT i hear about. It needless to, say it's been
right back in forever. Since and that tells me that
they want to stay.
Speaker 3 (36:11):
Sharp they love their.
Speaker 2 (36:12):
Sudoku so the physical act activity as well as the
mental you, know, exercise and that can reduce health issues
and reduce overall it can increase the overall quality of,
life give you more. Confidence so, exercise, yeah we hear about,
it walking or whatever it might.
Speaker 3 (36:29):
Be.
Speaker 2 (36:31):
People it comes back to the sense of. Purpose all
those years of going to work feeling needed and, wanted
and now all of a sudden you hang it up
and there's nothing on the. Schedule what are you going
to fill that calendar up? With how are you going
to find your? Purpose you, know Social we talked earlier
(36:52):
about building a social. Network maybe that's joining some sort of, club, volunteer,
volunteering or whatever it might. Be, now GRANTED i meet
with people all week, long my wife, says And i'm
introvert on the, Weekends, Well i've talked to people all week.
Long she could talk to people twenty four to. Seven so,
again you have to find you know what your niche
(37:14):
is plan. Trips our family loves to, travel a lot
of our clients love to. Travel buffer it into your
financial plan because travel isn't, cheap but there might be
ways to reduce costs and take advantage of things that
are out.
Speaker 3 (37:27):
There and you, know it.
Speaker 4 (37:28):
Doesn't always have to be a you, know ridiculous trip To.
EUROPE i, mean there are so many things to see
and do that are fun and they're right in your
backyard that you were too busy all your working life
to do or.
Speaker 2 (37:40):
See we have lots of parks here in the state Of,
minnesota AND i have clients that go to national parks
and they just absolutely love. It and this isn't big ticket,
Items so it's not lavish. Spending, no if that's what
you like to do and you've budgeted for, it to
go ahead and do labbage spending if you choose. To so,
again maybe it's taken these courses or, music whatever it might,
(38:03):
be and you won't know until you get, there and
you might have to try different. Things you're not going
to have all the answers In. Minnesota i've said it many.
Times if you're a married couple or anybody really you
may not want to retire in the. Fall these winters
In Minnesota i've lived in my whole. LIFE i can't stand,
winter And i'll probably be here for the rest of my.
Speaker 3 (38:22):
Life that's.
Speaker 2 (38:22):
Okay but we find that people that do it in the,
fall they, say we wish we would have done it
in the. Spring maybe you're, married maybe you wait thirty
days rather than retire at the same. Time, okay there's
various Things i've heard in all the years that we've
done this of people wishing they would have done things.
Differently and, again having a, routine having a, purpose filling
(38:45):
that calendar. Up one THAT i do here often, though
and is, grandparenting going to all the kids, events you,
know the t ball or the. Soccer and if you've
got a big, family you better plan accordingly for that,
too because you, know with hockey and all the various
things that can occupy a lot of, time and maybe
that's exactly what you should be doing, again giving back
(39:08):
to family and friends and those are such important.
Speaker 4 (39:11):
Things, YEAH i think it's just so important for, people
especially if you've worked all of your, life to have
a reason to get out of bed each and every.
Day it really is important because you have had structure
in your, life and while you're in that, structure it
sounds so great to be care free and out of.
It but once you're out of it for a period of,
time it's important to put it back. In, larry what
(39:32):
about people who feel, like for, me WHAT i really
would like to do is have a part time. Job
how do you feel about that when they're in.
Speaker 2 (39:40):
Retirement, Hey i'm all for. It as long as you
have a part time job that you. Enjoy that it's
optional that you don't have to, work but you choose to.
Work you, KNOW i think my parents my Dad wendele's
eighty and my Mom's carols seventy.
Speaker 3 (39:58):
Seven forgive, me mom.
Speaker 2 (39:59):
IF i got it off by, year but they steal
crop farm In west And Candy, High. Minnesota, yeah every.
Year my dad's, LIKE i were in a farm one more. Year,
Dad you've been telling me that for fifteen. Years he's,
like he's, eighty and he's, like, WELL i got to do,
something and that's what he, knows and that's what they.
Do they don't have to, work but they choose to.
Work but part time job's, Fantastic but hopefully it's not
(40:21):
because you haven't financially put yourself in position to fully.
Retire you know some popular Ones, kim you know working
at the golf, course you, know getting free green, fees
you maybe, rangering maybe a. STARTER i have several that
actually mow grass and you know, what it's, peaceful they're,
outdoors they get to play free. Golf so part time,
(40:44):
job all for it if you so choose.
Speaker 4 (40:46):
Right and keep in, mind, folks if maybe a part time.
JOB i mean some people want a part time job
because you just feel fulfilled if you get a. Check you,
know that's just a part of who you. Are it's
in YOUR. Dna but you also would like to talk
to a partner Like larry and the team there At
Haven Financial group before you take on that part time,
job because you do want to make sure that the
(41:07):
ramifications of that paycheck may not be negative on your. Portfolio.
Speaker 2 (41:13):
Yeah and another reason what people do is for, healthcare
if there's any type of insurance that's, available because again,
healthcare healthcare is, expensive and AGAIN i say it, again
people underestimate. It so maybe you're not quite the sixty.
Five maybe you got a pink slip and you retired
earlier than you. Anticipated now you get to bridge the
gap for. Healthcare by the, way we can help you with,
(41:34):
that and we have all the companies to choose, from
but plan. Accordingly so, again maybe you have that part
time job for that, reason and a part time job
with a little bit of, income maybe that actually enhances
your overall retirement financial. Plan maybe it stretches your money's out.
Longer and, again if you don't have a, plan how
(41:56):
do you even answer that. Question so my encouragement would be,
again a failure to plan is a plan to. Fail
nobody wants to. Fail but maybe now is the time
to have the. Conversation or maybe you've just put it
on the shelf for the last ten fifteen. Years now
let's have a conversation to see how you're. Doing, sure,
again it's better to have the conversation to know then
(42:18):
get there and, go, oh my, goodness we did not plan.
Well and now your retirement doesn't look like your neighbors
or your. Friends and, again whether you have a lot
or a, little or anything in, between young or, old
it's not too, early it's not too. Late it's never too.
Early but just to make sure you don't wait till
it's too, late.
Speaker 4 (42:38):
Sure absolutely. So if you are thinking about if you
are close to maybe you're young and you're just thinking
you want to start, now but you need a retirement,
portfolio and you're, thinking MAYBE i don't have the kind
of plan THAT i. Need maybe you have a plan
and now you're wondering if it needs. Review maybe it's
(43:00):
just want a new partner in all of this and
some fresh. Ideas six one two five zero four eight
four zero zero is the number you. Call you can
reach the folks At Haven Financial. Group you tell them
that you heard The Haven Financial group radio show and
that you'd like to come in make an, appointment sit
down with someone and talk about what you would like
and how you see your retirement playing out and when
(43:22):
you put that plan. Together, folks remember the financial part
of it is very, important but you also want to
make sure that you've put together a lifestyle that is,
fun that's, healthy and that's good for. You, larry this
has been so.
Speaker 3 (43:36):
Fun it has been every week's. Fun.
Speaker 2 (43:39):
Again they have nothing to learn and come on in
on any of the retirement puzzle. PIECES i reiterate from
the estate. Plan maybe you've been putting that. Off maybe
you want tottend some of our. Classes go to our
website see our, classes a variety of. Them maybe it's
long term, care we touched on that. Earlier maybe exploring
that or getting educated on the various things that are out.
There maybe it's life insurance reviews that you haven't really paid,
(44:00):
attention wealth, management rebalancing the, portfolio, whatever those re retirement puzzle.
Speaker 3 (44:06):
Pieces that's what our job.
Speaker 2 (44:08):
Description and we're very blessed and fortunate to be able
to help lots of, people and maybe that can be.
Speaker 4 (44:13):
You, Terrific, larry have a great week.
Speaker 3 (44:17):
You as, Well, Cam thank you so.
Speaker 4 (44:18):
Much investment advisory service is offered Through Guardian Wealth 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
(44:39):
herein and comments regarding it safe and secure investments and
guaranteed income streams only refer to fixed insurance.
Speaker 1 (44:45):
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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