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 four eighty four hundred.
Now get your financial questions ready because the Haven Financial
Group Radio Show starts now.
Speaker 2 (00:55):
Good morning, and welcome to the Haven Financial Group Radio Show.
I'm Larry Kolvig and CEO of the Haven Financial Group.
Thanks for listening this morning, where every week we come
to you and talk about everything that's going on in
the economy of things to avoid retirement, how to get there,
how to stay retired. If you have any questions throughout
the show, please give us a call at six one
(01:16):
two five zero four eighty four hundred, or visit us
online at Havenfinancialgroup dot com. All kinds of retirement tools
on the site, very interactive, and of course the calendar
of educational events which we do many many educational events
because it's so very very important.
Speaker 3 (01:34):
Cam. Good to be with you.
Speaker 4 (01:36):
Great to be with you, Larry, Yeah, I wanted to
ask you about some of the educational events before we
got started today. I know that you have a new
facility there in the office space. Tell everybody about that
and some of the programs that are coming to it.
Speaker 2 (01:50):
Well, celebrating again our ten year anniversary. We've just finished
in that ten year our third or fourth expansion where
we now have an education center with some additional offices.
But the goal there is to do internal education classes
starting here the week after next actually know this coming
week actually where we have two back to back classes.
(02:10):
It started as one where the local police Department's coming
in and do a fraud prevention hour and a half
class and it was so well received that we are
at capacity for both classes. We added a class, and
technically we could add another one, but the police department
that day isn't available because we had so many people
sign up. So again a good thing, you know, fraud
(02:32):
prevention today with all the scammers and everything, I think
people really want to know what they should be aware of.
And again, all our educational events are very well attended,
which means you know the listeners. People out there are listening,
or they're looking for answers and looking for viable sources
to get good information because anybody can go to the
(02:55):
Internet and find out any answers, right, wrong or indifferent.
Accuracy with retirement, as you and I talk every week,
is so extremely important.
Speaker 4 (03:04):
Absolutely, it certainly is before we move on here, which,
by the way, congratulations about ten years. Congratulations on this
fabulous class. I wish I could be in attendance because
the issue of fraud is just running rampant and people
taking advantage of other individuals, and so I think that's
just a great class to be to be holding. What
(03:26):
are some of the others, So if people are wondering,
what are some of the other classes that you guys
offer and who do you offer them to?
Speaker 2 (03:34):
We offer them to our existing clients and of course
the public, the public and the forum of we do
classes and half for years of Dakota County Tech and
other colleges. We just last week had a Medicare Made
Simple class at that site. Well have other Medicare Made
Simple classes, social Security and tax classes, a lot of
those retirement dinner workshops throughout the course of the year
(03:57):
where we cover all retirement topics. Multiple personalities here at
Haven that do that class and investment classes. So go
to our site a variety of classes throughout the year.
But again it's all about getting the education and naturally
through that we're able to help a lot of folks
throughout the course of the year make good retirement decisions
(04:20):
and give them confidence that hey, we're doing the right thing.
Somebody's paying attention and actually you guys at Haven Financial
Group actually care and you're listening, and that does mean
a lot to us.
Speaker 4 (04:32):
It certainly does, and it means a lot to those
who are working with you, no doubt. Larry Havenfinancialgroup dot
com folks, that is their website. If you're interested in
attending one of these educational seminars that you've heard Larry
talking about, be sure you go on you can see
the variety of different topics that will be offered over
the next couple of months. You'll see the locations you'll
(04:53):
need to sign up because they do need a number.
They're not asking for you to pay, They're just asking
you to let them know if you're going to be
in attendance. Again, that's Han Financialgroup dot Com. What a
great service you guys are providing there, Larry, no doubt.
Let's take a look at today's show. We got a
good one. This is called Keys to Staying Retired for Good.
(05:15):
During the course of today's show, we're going to talk
about how you answer your retirement income questions, and then
we'll take a look at how you spend time and
money and how they go hand in hand. And then
we will address the issue of how to expect the
unexpected in retirement. You know, life happens as they say.
(05:36):
And then finally, don't make these mistakes after you've retired.
I thought this was really an interesting concept, Keys to
staying retired for Good? Now does that that sort of
implies that people don't stay retired for good?
Speaker 2 (05:51):
Larry, Well, it does for a variety of reasons, maybe
being ill prepared, not having enough money put aside having
to having to go half to back to work. So
we don't like to see that because when you make
that retirement decision, most do it once. Now there are
some maybe that do it again because they go back
to work because they didn't like retirement, but that's really
(06:11):
few and far between. So, as we'll talk about in
today's show, many people think of, you know, retirement as
just working all these years to get a lump sum
of cash.
Speaker 3 (06:22):
And the earnings years obviously are.
Speaker 2 (06:23):
Important, But then what do you do with that money?
No more paycheck, no more work. Retired? Now, what how
do you generate regular mailbox income, regular income for the
rest of your life and sustain that? And if you're married,
for you and your spouse or significant other for many, many,
many years. For many, retirement could be twenty thirty, thirty
(06:45):
five plus years, which for some is a third of
their life. That takes some preparation, and if you're not prepared,
you might not be ready for the long haul as
much as you think.
Speaker 4 (06:57):
Absolutely, So let's break down today the way that you
create in retirement income strategy that supports your lifestyle and
that includes you know, your savings, it includes what it
is you love to do. It includes protecting you when
maybe you need cash for some of those surprises or
healthcare issues, so on and so forth.
Speaker 5 (07:16):
So let's get.
Speaker 4 (07:16):
Started first by answering that all important question. I think
as people prepare for a retirement, they wonder, how do
I get income? How does that work?
Speaker 2 (07:26):
Well, it's it's turning your income, you the money that
you've worked for all these years, into a regular income stream.
And when people come in, we're going to look at
social Security as one income stream. Do you have pensions
and if so, will that be for the rest of
you and your spouse, if your married's life, and then
how do we generate income for the rest of it?
Speaker 3 (07:46):
And is that going to be enough?
Speaker 2 (07:47):
Because income in retirement is the name of the game
for a variety of reasons, you know, creating that income
for the things that we talk about that you need,
which is obviously food, housing, utility, transportation, and providing a
sense of security, blanket the essential living expenses if you will.
And then you probably want to have a sustained lifestyle,
(08:09):
whether that's travel, hobbies, leisure, you know, the country club, fishing, whatever,
that may be, grandkids, and that takes money and of
course income as well, so the needs in the wants
really come into play. You mentioned one that I say
almost every week, which is very undervalued, or people don't
(08:30):
think of the health care costs so much. There's a
lot of people that continue to work simply for healthcare.
And I'm telling you healthcare is not going down. So again,
how do you cover those medical insurance premiums and a
potential long term care needs? How do you manage those costs?
And boy, that's a very very big number for the
(08:51):
average citizen, the average American that's going to live ten
twenty thirty years.
Speaker 3 (08:56):
It's a big number. So we have to plan accordingly.
Speaker 4 (09:00):
We also have to plan for inflation protection because inflation
has certainly been the name of the game in the
last four years, five years, and that could continue for
quite some time.
Speaker 2 (09:10):
It certainly could, and it'll come full circle again, you know,
the markets and everything goes up and down. You know,
inflation has been high for several years. It's starting to
get a little bit under control, but you know, again
over time it will come back. So you have to
plan accordingly. You know, when we built out retirement plans,
we're factoring in a higher inflation rate than what the
(09:32):
average or what the FED is trying to accomplish up
two percent. Why do we do that planning for the worst,
hoping for the best. Is your money going to live
for the are you covering longevity risk, the fear of
outliving your income, or do you have some sort of
financial tool or you're using maybe an annuity that's giving
you guaranteed lifetime income.
Speaker 3 (09:53):
Maybe a great idea.
Speaker 2 (09:55):
And of course we're very very big on having a good,
very good balanced attack of having good liquidity, money in
the bank accessible, well, money that's in the stock market
however appropriate for your needs and your comfort level, and
then having some investments that really really can give you
some growth but not as aggressively, but can cover the
(10:19):
losses and not give you any of the market losses.
So all of these important, and you never stop talking
about debt. You know, probably people are sicker, the bluer
in the face, and oh, but why do we got
to talk about debt? Because debt can really erode that
savings for retirement and that's extremely important to maybe have
a budget and some of these things. And maybe you've
(10:42):
done a good job, maybe you have the wherewithal, maybe
you have saved.
Speaker 3 (10:46):
Maybe you're frugal.
Speaker 2 (10:47):
We see that as a common denominator of a lot
of folks that are doing well. If legacy is important,
you know estate planning and Carrie, Anna and Keith are
state planning attorneys here Haven Financial Group. And I tell
you what, most people don't have a good estate plan.
All of these things are important. That may sound overwhelming,
(11:09):
but at the end of the day, by having a
having a good idea what's going on might protect your
psychological well being and give you peace of mind, reduce
that stress and uncertainty and anxiety which I see unfortunately
a lot of retirees have because they haven't done a
(11:29):
good job of retirement planning right.
Speaker 1 (11:33):
Well.
Speaker 4 (11:33):
When it comes to retirement, having it you've proven it.
Having a consistent regular income is absolutely crucial for keeping
your finances in check. So it's not just about covering
those basics. It's about having the means to live the
life that you've always wanted, and of course taking care
of yourself when it comes to health and being prepared
for all those things that life may throw your way.
(11:54):
And we all know life happens. If these are issues
that you need a partner to join you and to
make sure that you're doing if you've questioned how you'll
draw income from your retirement savings, if you maybe have
not saved the way you think you should have, and
you might be surprised that you have, and you're just
(12:14):
looking to talk to someone, give them a call at
Haven Financial Group. It's six one two five zero four
eight four zero zero six one two five zero four
eighty four hundred. Tell them you heard us right here
on the radio and set up an appointment. Go in
and see our friends there at Haven Financial Group very soon.
Coming up next. How you spend time and money, Believe
(12:36):
it or not, they go hand in hand. This is
the Haven Financial Group Radio Show.
Speaker 1 (12:40):
Don't go too far. We're gathering more important insights and
retirement poys. Devinent The Haven Financial Group Radio Show will.
Speaker 3 (12:47):
Be right back.
Speaker 1 (12:48):
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 Karagano. Back to the show.
Speaker 2 (13:03):
Good morning once again, and welcome to the Haven Financial Group.
Speaker 3 (13:06):
Thanks for listening this morning. Feel free to give us
a call.
Speaker 2 (13:09):
Maybe something sparking your interest today or something worries and
concerns you six one two, five zero four eighty four hundred,
come on in a visit with us nothing to lose,
or visit us online at Hanfinancialgroup dot com.
Speaker 3 (13:23):
Again.
Speaker 2 (13:23):
Lots of retirement tools that are out there. Check us out.
Everything's an open book and you should do due diligence
if you're looking at somebody to partner with.
Speaker 3 (13:33):
That's extremely important.
Speaker 2 (13:34):
And you know, staying retired making the right decisions is
the show topics today and maybe not the most exciting,
but extremely important, isn't it, Kim.
Speaker 4 (13:45):
It certainly is today. We're talking, as we just heard,
the Keys to staying retired for good. And I asked
Larry off the top of the show, does that imply
that people don't And his response is, sometimes they don't.
Sometimes they don't because they want to go back to work.
They're not enjoying retirement the way they thought they would.
Other times they're going back because maybe they hadn't planned
(14:07):
the way they should. You certainly don't want that second
reason to be the reason that you don't stay retired.
So we want to talk about how you spending time
and money go hand in hand. So let's talk a
little bit about that, Larry. I mean, a financial foundation
isn't just a number, it's the key to a more
(14:28):
fulfilled future. So let's talk about pursuing personal fulfillment through retirement.
How do people go about that? I know you talk
to a lot of people about it.
Speaker 2 (14:36):
Yeah, you know, first off, people think financial planning is
you know, it's the stock market, it's interest rates and
a whole bunch of complicated jargon that some of us
don't understand.
Speaker 3 (14:46):
And you know, it is some of that.
Speaker 2 (14:47):
But then there's the freedom and the stability and the
ability to focus on what really matters in your life. Yes,
it takes money, but where are you spending the money?
And what does that bring to you? You know, pursuing
personal fulfillment it provides you know, a good retirement financial plan.
You know, it brings provides freedom to take a break
from the daily grind and take care of yourself and
(15:10):
enrich your lives. And there's some fulfillment and contentment with that,
of course there is. And I see some clients that
really succeed in that and it's just a blessing to
see and others that are so wound up because they
never stop thinking or worrying because they don't have any partner.
They don't have a partner or a planner or an
advisor that they can really rely on. And for a
(15:31):
variety of reasons. Financial resources, you know, they can uphold
your values and help priorities. What really matters. Maybe you're charitable.
We see folks that are charitable and they others that
pursue their passions, and that's great to see. Maybe there's
other things that are important, like you know, maybe you
(15:51):
have aged parents, elderly parents. It's something that I see
often where people retire and unfortunately then their parents are
elderly and now they're taking care of them, a blessing
that they can, but it can rek havoc on their
retirement and the ability for them to enjoy it. So,
you know, it can provide care for the you know,
hiring home nurse ades, you know, ensuring their comfort extremely
(16:16):
important for a lot of people. Or other things it's
you know, maybe supporting their kids or grandkids with educational pursuits,
you know, funding college education if that's important, you know,
providing academic and career advancement. And I'm all for that,
But what I would caution listeners is I do see
(16:36):
people some retirees have worried more about doing that rather
than enjoying their own retirement or unfortunately the enabling of
adult children, and it's eating up their retirement. And that
is really sad to see. And I tell you I
see it more often than you think.
Speaker 4 (16:53):
I bet you do. And you know, that was one
of the That was one of the things I was
going to ask you about some of the maybe the
situations that you see where people undermine their own retirement
and their own personal fulfillment because of obligations they feel.
So there's one right there, maybe you know, trying to
educate I would imagine even taking care of elderly patient
(17:14):
parents rather that can be very expensive. That that's a
difficult thing to do.
Speaker 2 (17:20):
It can be if it's not been prepared for now,
I've seen successful stories very I could think of. Steve
and Barb have been clients of mine for years. I
was blessed and fortunate to meet their elderly parents who
I think they passed away at ninety eight or ninety nine,
and Dad passed here at the end of last year.
Clients of ours at one hundred I think one hundred
(17:41):
and four. Wow, and they had done a great job.
They had a great retirement. But I'll tell you, you know,
Barb retired, Steve retired, and for the several years they
took care, they took care of their parents, which is
a blessing, and now they're in a better place and
now the two of them can really enjoy retirement. But
others where it's really taking a toll on and they've
(18:05):
now you think they're responsible for taking care of costs
for parents or loved ones, and now that eats up
their retirement. So again, none of us want to be
a burden to kids. So it's why we encourage volts.
Let's talk about all aspects of retirement. How do we
plan for the worst and hope and pray for the
(18:25):
absolute best. What can we do within our means to
accomplish some of the goals and objectives at least maybe
some of them. Some of them maybe we can't or
maybe they're not a priority. So that's really part of
our full focused proprietary planning process, looking at all aspects
of retirement, not just honing in on just the money.
Speaker 4 (18:48):
Sure, you know, Larry, One of the ways I would
think too, that people can really achieve fulfillment is by
taking care of legacy planning, so you know, and haven
financial group. You can come in and you can take
care of that in your shop as well. There's all
(19:08):
kinds of things, you know, we talk about all the time.
People can come in and they can take care of
their taxes, and they can take care of you know,
their healthcare. But you can, you guys also do a
state planning. That really gives a lot of peace of
mind to a lot of people.
Speaker 2 (19:22):
Yeah, state planning. What's your exits strategy? We're all going
to leave this earth. Mortality rates one hundred percent and
that's not a joke. So we're all going to get
there at some point. And you know, life life, life happens.
It happens quickly, and unfortunately we see clients lose loved
ones and you know, even you know personally, it happens.
And what have you done to protect against that? Maybe
(19:45):
paying for you know, my wife and I have four daughters.
Maybe we'd like to pay for their weddings at some time.
Although I'd really not going to have that conversation today,
it's just not appropriate, but maybe that's important. Creating generation
generational impact. We have clients that you know, have had
either generational money, they built their wealth themselves and they're very,
(20:08):
very philanthropic. They created foundations that can have a lasting impact.
And we can be part of all that planning process.
Speaker 3 (20:17):
You know.
Speaker 2 (20:17):
I say, I'm a quarterback, founder and CEO and quarterback
of a great, a great team in all these areas.
And it's not a one stop shop. I mean it
is a one stop shop. It's so not a one
trick pony shop. It's we have a whole staff and
team that will dedicate time, effort, and energy to listening.
(20:40):
There's no quotas to how many times we can get
together to talk through of any of these things. Just
this last week, I had a couple in for a
quarterly review. They've had two weddings in their family just
in the last six months. We needed to energize their
their emergency fund because it got up pretty good and
(21:01):
there was a there was a right way to do
it in the most tax advantageous. So these are the
conversations that were continually continually having and I guess that
gives people the confidence, and that's a key word, confidence
in what they're doing because they have a partner to
rely on.
Speaker 4 (21:19):
Sure One of the things I know that you'd like
to really stress here on the radio show, though, is
that we may be giving examples of people's personal fulfillment ideas,
but and they may sound like they only go hand
in hand with people who have a lot a lot
of money. But that's not true. You know, whatever is
(21:40):
yours is yours, you always say, and your personal fulfillment
is just as important as someone who maybe has, you know,
tens of millions of dollars.
Speaker 2 (21:50):
Oh, I'm glad you said that, because the reality is
not a very low percentage has multimillions of dollars. Okay,
I'm not going to get into this specific, but we
deal with those that have very little who need attention,
and we deal with those that have very lot that
need attention. But the average the average family, or the
(22:11):
average couple, or what have you, it's somewhere in between
that okay, the middle class or anything in between. If
you're listing, no matter where you fall in that spectrum,
this applies to you.
Speaker 3 (22:25):
Now.
Speaker 2 (22:25):
Yours might be less complicated, and may be more complicated,
it's still equally as important. You may have less and
they may have more. Who cares? Keeping up the Joneses
who cares. This is what your retirement fulfillment, your discussion,
your situation. It's not one glove fits all. It's here's
(22:46):
the conversation we're going to have, Here's the questions we're
going to ask, and how do we answer those questions?
Is there a need to fix some things? Or do
you not even know? What I find is most people
just don't know, and it starts for the conversation and
eventually we can give you some answers and then as
life goes on, you just feel again coming back to
(23:08):
the word confident in what you're doing is what you
should be doing.
Speaker 4 (23:12):
So is this hitting a chord with you as you
listen to us this morning? You would rather stay retired
once you are, and you're looking for a partner to
make sure that that happens. Call the folks at Haven
Financial Group. Their number is six one two five zero
four eight four zero zero again that's six one two
five zero four eighty four hundred. Set up an appointment. Now,
(23:34):
go in and see the folks and tell them what
it is that you're hoping to achieve in retirement. When
we come back, how do we expect the unexpected in retirement?
That's right even in retirement life happens. This is the
Haven Financial Group Radio.
Speaker 1 (23:48):
Show, 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
(24:08):
to help you find your financial safe haven.
Speaker 2 (24:12):
Welcome back listeners. My name is 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 topics, financial topics that
can make the difference between surviving retirement and thriving through it.
And if you're looking for more information about key retirement topics,
(24:34):
whether the topics we're talking about today on previous weeks,
or future topics that can really transform your financial retirement
future or picture, give us a call at six one
two five zero four eighty four hundred or Havenfinancialgroup dot com.
Set us time to come in. There is no cost.
(24:55):
We always joke we love where coffee snobs. We make
fresh cookies and but it's nothing more than a conversation,
an enjoyable one. We like to have fun with these
difficult retirement topics. If it's nothing more than affirmation or
confirmation you have nothing to lose, and I encourage you
come on in m You know, Larry, there's not.
Speaker 4 (25:17):
Much in the world that any of us can say
we are absolutely sure will happen, except this. I feel
very confident life will happen, and unexpected things will come
up in everyone's life. Whether the refrigerator goes out, the
roof is bad, there's a medical emergency, maybe there's some
(25:39):
problem with the car. I mean, you name it. Something
is going to happen in your life. As you progress, I.
Speaker 3 (25:46):
Could agree with you more.
Speaker 2 (25:48):
Life's calendar doesn't always always cooperate with our calendar. Oftentimes
it doesn't at all. And there's always, as you said,
going to be unexpected expenses, whether health wise, a new driveway, sighting,
and the list goes on and on and on and on.
And it's why it's so important to have a healthy
emergency fund. And you know, we've talked about this over
(26:10):
the years. A healthy emergency fund where you have liquidity,
you have quick access to money when you need it,
but then when you use it for these events, because
they're going to happen, how do you replenish it? And
I think I'd like to start with what is a
good benchmark for a healthy emergency fund? And this isn't
(26:30):
only a benchmark, So if you're listening, don't go, oh
my goodness, oh my goodness, we're in trouble. That's not
the purpose of this conversation. We like to see for
retired middle sixties let's say, middle sixties couple at benchmark
of having fifty to one hundred grand liquid, none that
may vary, worry in the country, but a good fifty
to one hundred grand liquid meaning easy access, whether it's
(26:51):
checking savings, money markets, CDs, high yield savings where you're
getting at least some interest, but it's liquid. Okay, that's
where it starts. I can tell you most don't have that.
Many don't have ten thousand liquid, and they have everything
at risk in the stock market, and they think that's
a good recipe to go into retirement, which I can
(27:13):
tell you and you probably know the answer, it is
not a good recipe. So having a good emergency fund
so very very important. It's the great it's it's where
you need to start.
Speaker 4 (27:25):
All right, So let's talk about maybe you've had to
get into that emergency fund. You've got seventy five thousand
dollars and you had to use twenty five or thirty
thousand dollars of it for whatever reason. How do you
replenish that money?
Speaker 2 (27:40):
Yeah, and we do a lot of this, just like
the couple I said that had two weddings in six months. Now,
this is big. Sometimes you know, you may be able
to able to adjust your investments or the savings to
get you a little bit more yield. But I say
that with caution because oftentimes that requires taking more investment risk,
which may not be the right decision, depending up on
(28:02):
the timing, where you're at in life, and of course
the tools and the vehicles.
Speaker 3 (28:06):
And the type of moneies you're dealing with.
Speaker 2 (28:09):
So make sure you're discussing this with whoever you're working with,
whoever you're working with that's helping you, you're partnering with,
you know, weighing the good the bad. But that is
one way it can be done. Other ways which some
people don't think of. Probably the more popular ones I
see is using unexpected windfalls such as tax refunds. Now,
(28:30):
we do a lot with taxes. I also want to
comment on this. A lot of people they use this
as a discipline. They have a lot of taxes withheld
and they get a big tax refund, and for some
that's the discipline they need to use.
Speaker 3 (28:44):
However, I would say for.
Speaker 2 (28:48):
Many that isn't a good thing because you're giving money
to the government to use throughout the whole course of
the year where you could be using it. However, some
don't have that discipline, so it's not a good decision,
so be careful with that. But using tax refunds inheritances
are quite common. We see them very frequently. We're utilizing
an inheritance, thank you very much, mom and dad or
(29:10):
Graham and grand or whoever passed it on to you.
But use it in that to pad your savings or
checking again having that tax discussion, because what type of
money is it. Lance are Cpa and Melissa here at
Haven Financial Group. We do lots of tax planning, lots
of tax discussions, many meetings a week. I bring Lance
(29:31):
in just to have a discussion, whether they're tax clients
or not. We don't charge extra for tax planning. We
do charge for tax prep, but taxes are very very relevant.
So using maybe inheritances bonuses again tax discussion because how
is that going to be tax but using a bonus
to replenish that emergency funds. So again work with a
(29:56):
do you have a good question? Do you have a
good tax person? Do you like them, you get together
with them, or do you not even see them anymore?
Which is ninety percent of the time what I hear,
we don't even see our tax person. We are a
drop off pickup and that's all we do. We couldn't
be and Lance could be further from that. He wants
a dialogue and discussion throughout the year, and he prides
(30:17):
himself on his whiteboard and explaining things. Not that you
have to be the tax expert, but again most of
us worked very hard for what every dollar we have.
Why not talk through where you draw from in the
most tax efficient way possible. And by the way, fourth quarter,
believe it or not, is right around the corner, which
is where we discuss roth conversions.
Speaker 3 (30:41):
Doesn't make sense? Does it not make sense?
Speaker 2 (30:43):
Maybe an IRA distribution filling that twelve percent tax bracket up.
If you're not having those discussions now, We're having those
discussions with everybody small, medium, or large because it's a
window of opportunity based on low tax brackets that we'll
be here for another at least three years. Take advantage
of it. Take advantage of it now because unforced errors,
(31:07):
people are going to look back and they're going to go,
why did we not convert more to a wrath? Yeah,
many are not having that discussion.
Speaker 4 (31:14):
Absolutely, And I think this is a really interesting concept.
If you're trying to replenish that emergency fund, why not
try to cut some of your expenses, like service providers
like utility companies and insurance and just those reoccurring expenses
that really add up of the course of the year.
I know that you can really negotiate with some of
(31:36):
these people, can't you, Larry.
Speaker 3 (31:39):
You can.
Speaker 2 (31:39):
I mean, I've heard a lot of success in this.
You know, my wife and I when family we shop
out insurances, I say, shop it out?
Speaker 3 (31:46):
Why not?
Speaker 2 (31:47):
You know the cell phone companies they always take care
of the new customers, but the ones that have been
there for twenty five years not so much.
Speaker 1 (31:54):
So.
Speaker 2 (31:54):
You mentioned utilities, insurance, a cell phone, those recurring expenses
that can really build up, and you know others just
the worth mentioning because we do see and maybe part
time work or freelancing.
Speaker 3 (32:05):
I see a lot of consulting.
Speaker 2 (32:08):
They retire and somebody wants to consult for some decent
money selling unneeded assets. I see it done, and hopefully
it's because you don't. You're doing it because you're trying
to simplify life, and it's not because you need the money.
But seek financial advice in these areas to make sure
you're making the right decisions pertinent to your situation. But
(32:31):
a takeaway from this this segment of the show is
make sure you have an emergency fund, try to get
within the benchmark, have a clear plan to replenish it
in the right way when you need to. And if
this is something that listeners are struggling with and they
don't know that may be worth just a simple dialing
six' one two five four eighty four Hundred havenfinancialgroup dot
(32:55):
com set up a time because this is extremely, important.
Speaker 4 (33:00):
You, bet because as we said at the beginning of the,
segment life happens even when you're in. Retirement all, right
when we come back and don't make these, mistakes we're
going to share them with. You after you, retire you
want to stay, retired and these are some of the
things you want to. Avoid you are listening to The
Haven Financial Group Radio.
Speaker 1 (33:18):
Show don't go too. Far we're gathering more important insights and.
Retirement please devinent The Haven Financial Group Radio.
Speaker 3 (33:25):
Show we'll be right.
Speaker 1 (33:27):
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. Karagan no back to the.
Speaker 2 (33:40):
Show good morning once, again and welcome back to The
Haven Financial Group Radio. Show thanks for spending some time
with us this, morning and feel free to give us
a call at six one two FIVE o four eighty
four hundred and Always Havenfinancial group dot. Com check out our,
classes upcoming classes and a variety of these retirement topics
At Aven Financial. Group proudly happy for our tenth year.
(34:04):
Anniversary how quickly tenures goes. By it's hard to believe
when we open the doors. Here so again we thank
our clients and we thank those that we've been able
to speak to over those ten, years And god willing another,
ten another, ten and who knows how many more Ten, kim.
Speaker 4 (34:20):
Absolutely, well congratulations to you and all of your wonderful.
Staff you, Know tim certainly does. Fly you said we're
coming upon the fourth. QUARTER i, thought, wow the fourth
quarter already of twenty twenty, five which is an important,
time the fourth, quarter certainly for tax planning. Purposes But,
LARIA i think you also want to remind everybody that
this is the time of open, enrollment correct.
Speaker 2 (34:41):
Open and annual open Enrollment october fifteenth Through december. Seventh
for those of you that are on medicare exploring, medicare
having these discussions in advance of when you need to
get on medicare because there's lots of. Questions it's why
our medicare made simple classes, which by the, Way medicare
is not. Simple healthcare can get very, complicated And i'll tell,
(35:04):
You Glennon isabella at the office here do a great job.
Educating we have access to all the companies and we
are able to. Help but make sure that you're leading on,
somebody that you're not just going with the first person
who SAYS i think this one's the right one for
you without looking at all the. OPTIONS a discussion on
companies should not. Happen it should be what are your
(35:28):
health care, needs what medications are you, taking what doctors
do you? Use and the last thing would be comparing
the costs of what insurance. Companies so get on the
right page with the right people to make sure you're
not paying what a lot Of americans are. PAYING i
just read a study up to seven hundred dollars a
year by not being in the right.
Speaker 3 (35:47):
Plans.
Speaker 4 (35:48):
Wow, yeah seven hundred dollars a year is a. Lot
having said all of, That, larry we want to talk
about some of the missteps that people want to. Avoid
but before we, do tell, me what do you think
is one of the biggest missteps that folks make as
they enter.
Speaker 2 (36:03):
Retirement, yeah BEFORE i address, that because there's a couple
that stick out is you know the accumulation, years you,
know building of your retirement monies and building for. Retirement you,
know that's the accumulation. Years and then you get to
the preservation slash distribution slash preservation those. Years And i've
(36:24):
heard it so many. Times just this last WEEK i
heard it at least twice where a couple both, said
the guy that has helped us up until this point
through our accumulation years had has got us. Here but
we do not have the confidence he can get us
through the retirement, years and they are a different season of.
Speaker 3 (36:41):
Life they certainly.
Speaker 2 (36:43):
Are SO i would, say no matter what age you,
are but for, sure if you're you, know five years
or in retirement or whatever it, is give us a
call to talk through these. Things but the big one
is not having enough to last you through. Retirement the
big question DO i have enough to? Retire or when
AM i going to run out of? Money based upon, inflation,
(37:05):
expenses et. Cetera kind of an important. Question, okay AM
i going to run out at seventy five ninety? Five
or AM i never going to run out of?
Speaker 3 (37:13):
Money so we'll build out those.
Speaker 2 (37:15):
Projections, yeah life could, happen but it will adapt when
those life events. Happen so that's a big. One avoiding
the stock. Market we are wealth. Management my investment team
of twelve we do wealth management and we would do
what you would expect of a wealth management. Company avoiding
the stock market is you, know to perceive all the
(37:36):
volatility which can adversely affect long term savings. Goals over
the long, run the stock market will. Perform it shows
better returns over. Time now those are longer periods of,
time and retirees maybe don't have as much. Time but
avoiding it for many is not the right, decision or
(37:56):
for not avoiding it to some degree could have the opposite.
Effects so we encourage our clients to stress test your,
portfolio making sure you're in the right spot you can
weather the storm when things get rocky and. Shoppy and
WHAT i found is most people just don't. Know they
don't know because they're not really.
Speaker 3 (38:16):
Involved in their.
Speaker 2 (38:17):
Investments they don't know because nobody's helping them explain how
much risk they're, taking and they're really at the mercy
of the timing of the market when they, retire and
that can be very. Dangerous so know what you're doing
to whatever risk you're, taking stress test the. Portfolio that's
a good, place but avoiding it is the wrong decision for,
(38:37):
some and avoiding it more is the right decision for many.
Speaker 3 (38:41):
Others so that's just a couple.
Speaker 4 (38:42):
SURE i think neglecting's estate planning has to be one
of the big. ONES i realized that this is a
really difficult subject to. Broach but for as difficult as
it may seem for two people to address, this imagine
how difficult it would be for those you leave behind
a state.
Speaker 2 (39:02):
Planning there's a reason why the last STATISTIC i said
eighty five percent Of americans do not have a competent,
plan which that means it's incompetent and not going to
do what they want it to do when called. Upon
that is that's a huge number and we see. It
it's why we partner With Provision Law Carrie ann And.
(39:23):
Keith they come into our office and do evaluations and review.
Speaker 3 (39:27):
And do no cost.
Speaker 2 (39:28):
Consultations, yeah if you don't have come on in and visit,
again there's no cost for an initial consultation with, them you,
know not updating wills or having a trust or powers of.
Attorney and this applies to eight adults that are eighteen and,
above so it shouldn't be taken. Lightly one that's so
common is do you have beneficiaries on all your? Accounts
(39:51):
and we SEE x spouses and no beneficiaries AND i
don't know about my. Beneficiaries who is my? Beneficiary, well
if you don't, know that's a potential problem just waiting to.
Happen so part of what we do is make sure
we have good DIBs on who the beneficiaries are to
make sure that something's not gone by the. Wayside so
(40:13):
a state planning really is a big. One and here's
one you know a lot of, People, Well i'm just
going to continue to, work And i'll just continue to
work past retirement. Age and guess what unforeseen circumstances all
all of a sudden life. Hits there's, LAYOFFS i got
a pink, slip there's health, issues and guess what that
oftentimes doesn't hold water because life. Happens our bodies give
(40:38):
out aches and, pains and you just can't do it
anymore because you're not twenty, thirty forty or even fifty.
Speaker 4 (40:45):
Absolutely and you, know just, spending, spending, spending, Spending that
is a real problem for those who are entering.
Speaker 2 (40:53):
Retirement, well not knowing where you're, spending underestimating your, spending
maybe not having a, budget underestimating health care and. Retirement you,
know you should know what your habits and what your
retirement habits, are where your money's, going and oftentimes, GO
i think we're burning through it a little faster we
thought we. Were and, again have that, discussion not a fun,
(41:17):
discussion but probably an important. One and then you got
the emotions THAT i think last week we talked about
the psychology of money and. Investments you, know the markets
are up and, down and when the markets are, down
you're ready to jump off the cliff or you can't
sleep at. Night, well if that's, you you're probably not
where you should. Be so maybe get in the right,
(41:38):
spot get in your comfort zone based upon your, decisions
so you're not one of them that has untimely decisions
leading to significant setbacks in your long term planning and for.
RETIREMENT i hope it is long term planning.
Speaker 4 (41:53):
Right and you, Know, larry one final one that kind
of sticks out to me because you've talked about, it
is that a lot of people think that when they
go into retirement they won't pay as much.
Speaker 2 (42:03):
Taxes, well we find is people pay more taxes in
retirement and that DOESN'T i know that's not a good
feeling or a nice thing for me to, say but it's.
Reality you, know a lot of people that are nearing
or in retirement a good percentage have done a good
job saving for retirement in pre tax, accounts and eventually
there's going to come a day where those moneies are
(42:24):
going to have to come, out and where are they
going to be? Taxed at a high tax bracket when
Your Social security is on your pensions on if you're
fortunate to have. That so we see taxes are more
relevant in retirement than ever. Before so it's why we're
very big into forward thinking tax, planning doing what you
(42:45):
can when your income is a little lower oftentimes in
those earlier retirement, years to minimize the tax impact in
those later years when you have to do required minimum.
Distributions so it's just using the tax code, code which
doesn't always make sense to your benefit to the best
of your. Ability but if you're only getting taxes prepared
(43:08):
and you're not doing tax, Planning i'm. Guessing and it's
not a guess BECAUSE i see it many times during
every week that you're not being tax efficient with your
hard earned retirement.
Speaker 4 (43:19):
Dollars, right all, Right, So, larry we have talked about
the key to staying retired for. Good we know that
there are a lot of people who are listening out
there who are thinking to, Themselves i'm not AN nfl.
QUARTERBACK i only want to retire one, time and we
hope that we've given you some ideas about how to
go about doing just. That but if you need a
(43:40):
partner to help you and to be perfectly. Honest, folks
most of us do need a. Partner. Again we only retire.
Once give the folks that have even financial group a.
Call it's six one two five zero four eight four zero.
Zero let me give the number too you, again it's
six one two five zero four eighty four. Hundred let
them know you heard us here on the. Radio you'd
(44:02):
like to, retire and you'd like to retire just, once
and you're looking for a. Partner, lariy this has been.
Speaker 2 (44:08):
Fun it has Been kim always going to be with
you and look forward to next week and.
Speaker 3 (44:13):
Go Vikings.
Speaker 5 (44:15):
Investment advisory service is offered Through Guardian Well STRATEGIES. Llc
Haven Financial group And Guardian Well STRATEGIES llc are not affiliated,
companies and investments involve, risk, and unless otherwise, stated are not.
Guaranteed please consult with the qualified financial advisor and or
tax professional before implementing any strategy discussed. Herein and comments
regarding as safe and secure investments and guaranteed income streams
(44:38):
only refer to fixed insurance. Products they do not refer
in any way to securities or investment advisory. Products fixed
insurance and annuity product guarantees are subject to the claims
paying ability of the issuing.
Speaker 1 (44:48):
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 four eighty four hundred.
Now get your financial questions ready because the Haven Financial
Group Radio Show starts now.
Speaker 2 (00:55):
Good morning, and welcome to the Haven Financial Group Radio Show.
I'm Larry Kolvig and CEO of the Haven Financial Group.
Thanks for listening this morning, where every week we come
to you and talk about everything that's going on in
the economy of things to avoid retirement, how to get there,
how to stay retired. If you have any questions throughout
the show, please give us a call at six one
(01:16):
two five zero four eighty four hundred, or visit us
online at Havenfinancialgroup dot com. All kinds of retirement tools
on the site, very interactive, and of course the calendar
of educational events which we do many many educational events
because it's so very very important.
Speaker 3 (01:34):
Cam. Good to be with you.
Speaker 4 (01:36):
Great to be with you, Larry, Yeah, I wanted to
ask you about some of the educational events before we
got started today. I know that you have a new
facility there in the office space. Tell everybody about that
and some of the programs that are coming to it.
Speaker 2 (01:50):
Well, celebrating again our ten year anniversary. We've just finished
in that ten year our third or fourth expansion where
we now have an education center with some additional offices.
But the goal there is to do internal education classes
starting here the week after next actually know this coming
week actually where we have two back to back classes.
(02:10):
It started as one where the local police Department's coming
in and do a fraud prevention hour and a half
class and it was so well received that we are
at capacity for both classes. We added a class, and
technically we could add another one, but the police department
that day isn't available because we had so many people
sign up. So again a good thing, you know, fraud
(02:32):
prevention today with all the scammers and everything, I think
people really want to know what they should be aware of.
And again, all our educational events are very well attended,
which means you know the listeners. People out there are listening,
or they're looking for answers and looking for viable sources
to get good information because anybody can go to the
(02:55):
Internet and find out any answers, right, wrong or indifferent.
Accuracy with retirement, as you and I talk every week,
is so extremely important.
Speaker 4 (03:04):
Absolutely, it certainly is before we move on here, which,
by the way, congratulations about ten years. Congratulations on this
fabulous class. I wish I could be in attendance because
the issue of fraud is just running rampant and people
taking advantage of other individuals, and so I think that's
just a great class to be to be holding. What
(03:26):
are some of the others, So if people are wondering,
what are some of the other classes that you guys
offer and who do you offer them to?
Speaker 2 (03:34):
We offer them to our existing clients and of course
the public, the public and the forum of we do
classes and half for years of Dakota County Tech and
other colleges. We just last week had a Medicare Made
Simple class at that site. Well have other Medicare Made
Simple classes, social Security and tax classes, a lot of
those retirement dinner workshops throughout the course of the year
(03:57):
where we cover all retirement topics. Multiple personalities here at
Haven that do that class and investment classes. So go
to our site a variety of classes throughout the year.
But again it's all about getting the education and naturally
through that we're able to help a lot of folks
throughout the course of the year make good retirement decisions
(04:20):
and give them confidence that hey, we're doing the right thing.
Somebody's paying attention and actually you guys at Haven Financial
Group actually care and you're listening, and that does mean
a lot to us.
Speaker 4 (04:32):
It certainly does, and it means a lot to those
who are working with you, no doubt. Larry Havenfinancialgroup dot
com folks, that is their website. If you're interested in
attending one of these educational seminars that you've heard Larry
talking about, be sure you go on you can see
the variety of different topics that will be offered over
the next couple of months. You'll see the locations you'll
(04:53):
need to sign up because they do need a number.
They're not asking for you to pay, They're just asking
you to let them know if you're going to be
in attendance. Again, that's Han Financialgroup dot Com. What a
great service you guys are providing there, Larry, no doubt.
Let's take a look at today's show. We got a
good one. This is called Keys to Staying Retired for Good.
(05:15):
During the course of today's show, we're going to talk
about how you answer your retirement income questions, and then
we'll take a look at how you spend time and
money and how they go hand in hand. And then
we will address the issue of how to expect the
unexpected in retirement. You know, life happens as they say.
(05:36):
And then finally, don't make these mistakes after you've retired.
I thought this was really an interesting concept, Keys to
staying retired for Good? Now does that that sort of
implies that people don't stay retired for good?
Speaker 2 (05:51):
Larry, Well, it does for a variety of reasons, maybe
being ill prepared, not having enough money put aside having
to having to go half to back to work. So
we don't like to see that because when you make
that retirement decision, most do it once. Now there are
some maybe that do it again because they go back
to work because they didn't like retirement, but that's really
(06:11):
few and far between. So, as we'll talk about in
today's show, many people think of, you know, retirement as
just working all these years to get a lump sum
of cash.
Speaker 3 (06:22):
And the earnings years obviously are.
Speaker 2 (06:23):
Important, But then what do you do with that money?
No more paycheck, no more work. Retired? Now, what how
do you generate regular mailbox income, regular income for the
rest of your life and sustain that? And if you're married,
for you and your spouse or significant other for many, many,
many years. For many, retirement could be twenty thirty, thirty
(06:45):
five plus years, which for some is a third of
their life. That takes some preparation, and if you're not prepared,
you might not be ready for the long haul as
much as you think.
Speaker 4 (06:57):
Absolutely, So let's break down today the way that you
create in retirement income strategy that supports your lifestyle and
that includes you know, your savings, it includes what it
is you love to do. It includes protecting you when
maybe you need cash for some of those surprises or
healthcare issues, so on and so forth.
Speaker 5 (07:16):
So let's get.
Speaker 4 (07:16):
Started first by answering that all important question. I think
as people prepare for a retirement, they wonder, how do
I get income? How does that work?
Speaker 2 (07:26):
Well, it's it's turning your income, you the money that
you've worked for all these years, into a regular income stream.
And when people come in, we're going to look at
social Security as one income stream. Do you have pensions
and if so, will that be for the rest of
you and your spouse, if your married's life, and then
how do we generate income for the rest of it?
Speaker 3 (07:46):
And is that going to be enough?
Speaker 2 (07:47):
Because income in retirement is the name of the game
for a variety of reasons, you know, creating that income
for the things that we talk about that you need,
which is obviously food, housing, utility, transportation, and providing a
sense of security, blanket the essential living expenses if you will.
And then you probably want to have a sustained lifestyle,
(08:09):
whether that's travel, hobbies, leisure, you know, the country club, fishing, whatever,
that may be, grandkids, and that takes money and of
course income as well, so the needs in the wants
really come into play. You mentioned one that I say
almost every week, which is very undervalued, or people don't
(08:30):
think of the health care costs so much. There's a
lot of people that continue to work simply for healthcare.
And I'm telling you healthcare is not going down. So again,
how do you cover those medical insurance premiums and a
potential long term care needs? How do you manage those costs?
And boy, that's a very very big number for the
(08:51):
average citizen, the average American that's going to live ten
twenty thirty years.
Speaker 3 (08:56):
It's a big number. So we have to plan accordingly.
Speaker 4 (09:00):
We also have to plan for inflation protection because inflation
has certainly been the name of the game in the
last four years, five years, and that could continue for
quite some time.
Speaker 2 (09:10):
It certainly could, and it'll come full circle again, you know,
the markets and everything goes up and down. You know,
inflation has been high for several years. It's starting to
get a little bit under control, but you know, again
over time it will come back. So you have to
plan accordingly. You know, when we built out retirement plans,
we're factoring in a higher inflation rate than what the
(09:32):
average or what the FED is trying to accomplish up
two percent. Why do we do that planning for the worst,
hoping for the best. Is your money going to live
for the are you covering longevity risk, the fear of
outliving your income, or do you have some sort of
financial tool or you're using maybe an annuity that's giving
you guaranteed lifetime income.
Speaker 3 (09:53):
Maybe a great idea.
Speaker 2 (09:55):
And of course we're very very big on having a good,
very good balanced attack of having good liquidity, money in
the bank accessible, well, money that's in the stock market
however appropriate for your needs and your comfort level, and
then having some investments that really really can give you
some growth but not as aggressively, but can cover the
(10:19):
losses and not give you any of the market losses.
So all of these important, and you never stop talking
about debt. You know, probably people are sicker, the bluer
in the face, and oh, but why do we got
to talk about debt? Because debt can really erode that
savings for retirement and that's extremely important to maybe have
a budget and some of these things. And maybe you've
(10:42):
done a good job, maybe you have the wherewithal, maybe
you have saved.
Speaker 3 (10:46):
Maybe you're frugal.
Speaker 2 (10:47):
We see that as a common denominator of a lot
of folks that are doing well. If legacy is important,
you know estate planning and Carrie, Anna and Keith are
state planning attorneys here Haven Financial Group. And I tell
you what, most people don't have a good estate plan.
All of these things are important. That may sound overwhelming,
(11:09):
but at the end of the day, by having a
having a good idea what's going on might protect your
psychological well being and give you peace of mind, reduce
that stress and uncertainty and anxiety which I see unfortunately
a lot of retirees have because they haven't done a
(11:29):
good job of retirement planning right.
Speaker 1 (11:33):
Well.
Speaker 4 (11:33):
When it comes to retirement, having it you've proven it.
Having a consistent regular income is absolutely crucial for keeping
your finances in check. So it's not just about covering
those basics. It's about having the means to live the
life that you've always wanted, and of course taking care
of yourself when it comes to health and being prepared
for all those things that life may throw your way.
(11:54):
And we all know life happens. If these are issues
that you need a partner to join you and to
make sure that you're doing if you've questioned how you'll
draw income from your retirement savings, if you maybe have
not saved the way you think you should have, and
you might be surprised that you have, and you're just
(12:14):
looking to talk to someone, give them a call at
Haven Financial Group. It's six one two five zero four
eight four zero zero six one two five zero four
eighty four hundred. Tell them you heard us right here
on the radio and set up an appointment. Go in
and see our friends there at Haven Financial Group very soon.
Coming up next. How you spend time and money, Believe
(12:36):
it or not, they go hand in hand. This is
the Haven Financial Group Radio Show.
Speaker 1 (12:40):
Don't go too far. We're gathering more important insights and
retirement poys. Devinent The Haven Financial Group Radio Show will.
Speaker 3 (12:47):
Be right back.
Speaker 1 (12:48):
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 Karagano. Back to the show.
Speaker 2 (13:03):
Good morning once again, and welcome to the Haven Financial Group.
Speaker 3 (13:06):
Thanks for listening this morning. Feel free to give us
a call.
Speaker 2 (13:09):
Maybe something sparking your interest today or something worries and
concerns you six one two, five zero four eighty four hundred,
come on in a visit with us nothing to lose,
or visit us online at Hanfinancialgroup dot com.
Speaker 3 (13:23):
Again.
Speaker 2 (13:23):
Lots of retirement tools that are out there. Check us out.
Everything's an open book and you should do due diligence
if you're looking at somebody to partner with.
Speaker 3 (13:33):
That's extremely important.
Speaker 2 (13:34):
And you know, staying retired making the right decisions is
the show topics today and maybe not the most exciting,
but extremely important, isn't it, Kim.
Speaker 4 (13:45):
It certainly is today. We're talking, as we just heard,
the Keys to staying retired for good. And I asked
Larry off the top of the show, does that imply
that people don't And his response is, sometimes they don't.
Sometimes they don't because they want to go back to work.
They're not enjoying retirement the way they thought they would.
Other times they're going back because maybe they hadn't planned
(14:07):
the way they should. You certainly don't want that second
reason to be the reason that you don't stay retired.
So we want to talk about how you spending time
and money go hand in hand. So let's talk a
little bit about that, Larry. I mean, a financial foundation
isn't just a number, it's the key to a more
(14:28):
fulfilled future. So let's talk about pursuing personal fulfillment through retirement.
How do people go about that? I know you talk
to a lot of people about it.
Speaker 2 (14:36):
Yeah, you know, first off, people think financial planning is
you know, it's the stock market, it's interest rates and
a whole bunch of complicated jargon that some of us
don't understand.
Speaker 3 (14:46):
And you know, it is some of that.
Speaker 2 (14:47):
But then there's the freedom and the stability and the
ability to focus on what really matters in your life. Yes,
it takes money, but where are you spending the money?
And what does that bring to you? You know, pursuing
personal fulfillment it provides you know, a good retirement financial plan.
You know, it brings provides freedom to take a break
from the daily grind and take care of yourself and
(15:10):
enrich your lives. And there's some fulfillment and contentment with that,
of course there is. And I see some clients that
really succeed in that and it's just a blessing to
see and others that are so wound up because they
never stop thinking or worrying because they don't have any partner.
They don't have a partner or a planner or an
advisor that they can really rely on. And for a
(15:31):
variety of reasons. Financial resources, you know, they can uphold
your values and help priorities. What really matters. Maybe you're charitable.
We see folks that are charitable and they others that
pursue their passions, and that's great to see. Maybe there's
other things that are important, like you know, maybe you
(15:51):
have aged parents, elderly parents. It's something that I see
often where people retire and unfortunately then their parents are
elderly and now they're taking care of them, a blessing
that they can, but it can rek havoc on their
retirement and the ability for them to enjoy it. So,
you know, it can provide care for the you know,
hiring home nurse ades, you know, ensuring their comfort extremely
(16:16):
important for a lot of people. Or other things it's
you know, maybe supporting their kids or grandkids with educational pursuits,
you know, funding college education if that's important, you know,
providing academic and career advancement. And I'm all for that,
But what I would caution listeners is I do see
(16:36):
people some retirees have worried more about doing that rather
than enjoying their own retirement or unfortunately the enabling of
adult children, and it's eating up their retirement. And that
is really sad to see. And I tell you I
see it more often than you think.
Speaker 4 (16:53):
I bet you do. And you know, that was one
of the That was one of the things I was
going to ask you about some of the maybe the
situations that you see where people undermine their own retirement
and their own personal fulfillment because of obligations they feel.
So there's one right there, maybe you know, trying to
educate I would imagine even taking care of elderly patient
(17:14):
parents rather that can be very expensive. That that's a
difficult thing to do.
Speaker 2 (17:20):
It can be if it's not been prepared for now,
I've seen successful stories very I could think of. Steve
and Barb have been clients of mine for years. I
was blessed and fortunate to meet their elderly parents who
I think they passed away at ninety eight or ninety nine,
and Dad passed here at the end of last year.
Clients of ours at one hundred I think one hundred
(17:41):
and four. Wow, and they had done a great job.
They had a great retirement. But I'll tell you, you know,
Barb retired, Steve retired, and for the several years they
took care, they took care of their parents, which is
a blessing, and now they're in a better place and
now the two of them can really enjoy retirement. But
others where it's really taking a toll on and they've
(18:05):
now you think they're responsible for taking care of costs
for parents or loved ones, and now that eats up
their retirement. So again, none of us want to be
a burden to kids. So it's why we encourage volts.
Let's talk about all aspects of retirement. How do we
plan for the worst and hope and pray for the
(18:25):
absolute best. What can we do within our means to
accomplish some of the goals and objectives at least maybe
some of them. Some of them maybe we can't or
maybe they're not a priority. So that's really part of
our full focused proprietary planning process, looking at all aspects
of retirement, not just honing in on just the money.
Speaker 4 (18:48):
Sure, you know, Larry, One of the ways I would
think too, that people can really achieve fulfillment is by
taking care of legacy planning, so you know, and haven
financial group. You can come in and you can take
care of that in your shop as well. There's all
(19:08):
kinds of things, you know, we talk about all the time.
People can come in and they can take care of
their taxes, and they can take care of you know,
their healthcare. But you can, you guys also do a
state planning. That really gives a lot of peace of
mind to a lot of people.
Speaker 2 (19:22):
Yeah, state planning. What's your exits strategy? We're all going
to leave this earth. Mortality rates one hundred percent and
that's not a joke. So we're all going to get
there at some point. And you know, life life, life happens.
It happens quickly, and unfortunately we see clients lose loved
ones and you know, even you know personally, it happens.
And what have you done to protect against that? Maybe
(19:45):
paying for you know, my wife and I have four daughters.
Maybe we'd like to pay for their weddings at some time.
Although I'd really not going to have that conversation today,
it's just not appropriate, but maybe that's important. Creating generation
generational impact. We have clients that you know, have had
either generational money, they built their wealth themselves and they're very,
(20:08):
very philanthropic. They created foundations that can have a lasting impact.
And we can be part of all that planning process.
Speaker 3 (20:17):
You know.
Speaker 2 (20:17):
I say, I'm a quarterback, founder and CEO and quarterback
of a great, a great team in all these areas.
And it's not a one stop shop. I mean it
is a one stop shop. It's so not a one
trick pony shop. It's we have a whole staff and
team that will dedicate time, effort, and energy to listening.
(20:40):
There's no quotas to how many times we can get
together to talk through of any of these things. Just
this last week, I had a couple in for a
quarterly review. They've had two weddings in their family just
in the last six months. We needed to energize their
their emergency fund because it got up pretty good and
(21:01):
there was a there was a right way to do
it in the most tax advantageous. So these are the
conversations that were continually continually having and I guess that
gives people the confidence, and that's a key word, confidence
in what they're doing because they have a partner to
rely on.
Speaker 4 (21:19):
Sure One of the things I know that you'd like
to really stress here on the radio show, though, is
that we may be giving examples of people's personal fulfillment ideas,
but and they may sound like they only go hand
in hand with people who have a lot a lot
of money. But that's not true. You know, whatever is
(21:40):
yours is yours, you always say, and your personal fulfillment
is just as important as someone who maybe has, you know,
tens of millions of dollars.
Speaker 2 (21:50):
Oh, I'm glad you said that, because the reality is
not a very low percentage has multimillions of dollars. Okay,
I'm not going to get into this specific, but we
deal with those that have very little who need attention,
and we deal with those that have very lot that
need attention. But the average the average family, or the
(22:11):
average couple, or what have you, it's somewhere in between
that okay, the middle class or anything in between. If
you're listing, no matter where you fall in that spectrum,
this applies to you.
Speaker 3 (22:25):
Now.
Speaker 2 (22:25):
Yours might be less complicated, and may be more complicated,
it's still equally as important. You may have less and
they may have more. Who cares? Keeping up the Joneses
who cares. This is what your retirement fulfillment, your discussion,
your situation. It's not one glove fits all. It's here's
(22:46):
the conversation we're going to have, Here's the questions we're
going to ask, and how do we answer those questions?
Is there a need to fix some things? Or do
you not even know? What I find is most people
just don't know, and it starts for the conversation and
eventually we can give you some answers and then as
life goes on, you just feel again coming back to
(23:08):
the word confident in what you're doing is what you
should be doing.
Speaker 4 (23:12):
So is this hitting a chord with you as you
listen to us this morning? You would rather stay retired
once you are, and you're looking for a partner to
make sure that that happens. Call the folks at Haven
Financial Group. Their number is six one two five zero
four eight four zero zero again that's six one two
five zero four eighty four hundred. Set up an appointment. Now,
(23:34):
go in and see the folks and tell them what
it is that you're hoping to achieve in retirement. When
we come back, how do we expect the unexpected in retirement?
That's right even in retirement life happens. This is the
Haven Financial Group Radio.
Speaker 1 (23:48):
Show, 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
(24:08):
to help you find your financial safe haven.
Speaker 2 (24:12):
Welcome back listeners. My name is 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 topics, financial topics that
can make the difference between surviving retirement and thriving through it.
And if you're looking for more information about key retirement topics,
(24:34):
whether the topics we're talking about today on previous weeks,
or future topics that can really transform your financial retirement
future or picture, give us a call at six one
two five zero four eighty four hundred or Havenfinancialgroup dot com.
Set us time to come in. There is no cost.
(24:55):
We always joke we love where coffee snobs. We make
fresh cookies and but it's nothing more than a conversation,
an enjoyable one. We like to have fun with these
difficult retirement topics. If it's nothing more than affirmation or
confirmation you have nothing to lose, and I encourage you
come on in m You know, Larry, there's not.
Speaker 4 (25:17):
Much in the world that any of us can say
we are absolutely sure will happen, except this. I feel
very confident life will happen, and unexpected things will come
up in everyone's life. Whether the refrigerator goes out, the
roof is bad, there's a medical emergency, maybe there's some
(25:39):
problem with the car. I mean, you name it. Something
is going to happen in your life. As you progress, I.
Speaker 3 (25:46):
Could agree with you more.
Speaker 2 (25:48):
Life's calendar doesn't always always cooperate with our calendar. Oftentimes
it doesn't at all. And there's always, as you said,
going to be unexpected expenses, whether health wise, a new driveway, sighting,
and the list goes on and on and on and on.
And it's why it's so important to have a healthy
emergency fund. And you know, we've talked about this over
(26:10):
the years. A healthy emergency fund where you have liquidity,
you have quick access to money when you need it,
but then when you use it for these events, because
they're going to happen, how do you replenish it? And
I think I'd like to start with what is a
good benchmark for a healthy emergency fund? And this isn't
(26:30):
only a benchmark, So if you're listening, don't go, oh
my goodness, oh my goodness, we're in trouble. That's not
the purpose of this conversation. We like to see for
retired middle sixties let's say, middle sixties couple at benchmark
of having fifty to one hundred grand liquid, none that
may vary, worry in the country, but a good fifty
to one hundred grand liquid meaning easy access, whether it's
(26:51):
checking savings, money markets, CDs, high yield savings where you're
getting at least some interest, but it's liquid. Okay, that's
where it starts. I can tell you most don't have that.
Many don't have ten thousand liquid, and they have everything
at risk in the stock market, and they think that's
a good recipe to go into retirement, which I can
(27:13):
tell you and you probably know the answer, it is
not a good recipe. So having a good emergency fund
so very very important. It's the great it's it's where
you need to start.
Speaker 4 (27:25):
All right, So let's talk about maybe you've had to
get into that emergency fund. You've got seventy five thousand
dollars and you had to use twenty five or thirty
thousand dollars of it for whatever reason. How do you
replenish that money?
Speaker 2 (27:40):
Yeah, and we do a lot of this, just like
the couple I said that had two weddings in six months. Now,
this is big. Sometimes you know, you may be able
to able to adjust your investments or the savings to
get you a little bit more yield. But I say
that with caution because oftentimes that requires taking more investment risk,
which may not be the right decision, depending up on
(28:02):
the timing, where you're at in life, and of course
the tools and the vehicles.
Speaker 3 (28:06):
And the type of moneies you're dealing with.
Speaker 2 (28:09):
So make sure you're discussing this with whoever you're working with,
whoever you're working with that's helping you, you're partnering with,
you know, weighing the good the bad. But that is
one way it can be done. Other ways which some
people don't think of. Probably the more popular ones I
see is using unexpected windfalls such as tax refunds. Now,
(28:30):
we do a lot with taxes. I also want to
comment on this. A lot of people they use this
as a discipline. They have a lot of taxes withheld
and they get a big tax refund, and for some
that's the discipline they need to use.
Speaker 3 (28:44):
However, I would say for.
Speaker 2 (28:48):
Many that isn't a good thing because you're giving money
to the government to use throughout the whole course of
the year where you could be using it. However, some
don't have that discipline, so it's not a good decision,
so be careful with that. But using tax refunds inheritances
are quite common. We see them very frequently. We're utilizing
an inheritance, thank you very much, mom and dad or
(29:10):
Graham and grand or whoever passed it on to you.
But use it in that to pad your savings or
checking again having that tax discussion, because what type of
money is it. Lance are Cpa and Melissa here at
Haven Financial Group. We do lots of tax planning, lots
of tax discussions, many meetings a week. I bring Lance
(29:31):
in just to have a discussion, whether they're tax clients
or not. We don't charge extra for tax planning. We
do charge for tax prep, but taxes are very very relevant.
So using maybe inheritances bonuses again tax discussion because how
is that going to be tax but using a bonus
to replenish that emergency funds. So again work with a
(29:56):
do you have a good question? Do you have a
good tax person? Do you like them, you get together
with them, or do you not even see them anymore?
Which is ninety percent of the time what I hear,
we don't even see our tax person. We are a
drop off pickup and that's all we do. We couldn't
be and Lance could be further from that. He wants
a dialogue and discussion throughout the year, and he prides
(30:17):
himself on his whiteboard and explaining things. Not that you
have to be the tax expert, but again most of
us worked very hard for what every dollar we have.
Why not talk through where you draw from in the
most tax efficient way possible. And by the way, fourth quarter,
believe it or not, is right around the corner, which
is where we discuss roth conversions.
Speaker 3 (30:41):
Doesn't make sense? Does it not make sense?
Speaker 2 (30:43):
Maybe an IRA distribution filling that twelve percent tax bracket up.
If you're not having those discussions now, We're having those
discussions with everybody small, medium, or large because it's a
window of opportunity based on low tax brackets that we'll
be here for another at least three years. Take advantage
of it. Take advantage of it now because unforced errors,
(31:07):
people are going to look back and they're going to go,
why did we not convert more to a wrath? Yeah,
many are not having that discussion.
Speaker 4 (31:14):
Absolutely, And I think this is a really interesting concept.
If you're trying to replenish that emergency fund, why not
try to cut some of your expenses, like service providers
like utility companies and insurance and just those reoccurring expenses
that really add up of the course of the year.
I know that you can really negotiate with some of
(31:36):
these people, can't you, Larry.
Speaker 3 (31:39):
You can.
Speaker 2 (31:39):
I mean, I've heard a lot of success in this.
You know, my wife and I when family we shop
out insurances, I say, shop it out?
Speaker 3 (31:46):
Why not?
Speaker 2 (31:47):
You know the cell phone companies they always take care
of the new customers, but the ones that have been
there for twenty five years not so much.
Speaker 1 (31:54):
So.
Speaker 2 (31:54):
You mentioned utilities, insurance, a cell phone, those recurring expenses
that can really build up, and you know others just
the worth mentioning because we do see and maybe part
time work or freelancing.
Speaker 3 (32:05):
I see a lot of consulting.
Speaker 2 (32:08):
They retire and somebody wants to consult for some decent
money selling unneeded assets. I see it done, and hopefully
it's because you don't. You're doing it because you're trying
to simplify life, and it's not because you need the money.
But seek financial advice in these areas to make sure
you're making the right decisions pertinent to your situation. But
(32:31):
a takeaway from this this segment of the show is
make sure you have an emergency fund, try to get
within the benchmark, have a clear plan to replenish it
in the right way when you need to. And if
this is something that listeners are struggling with and they
don't know that may be worth just a simple dialing
six' one two five four eighty four Hundred havenfinancialgroup dot
(32:55):
com set up a time because this is extremely, important.
Speaker 4 (33:00):
You, bet because as we said at the beginning of the,
segment life happens even when you're in. Retirement all, right
when we come back and don't make these, mistakes we're
going to share them with. You after you, retire you
want to stay, retired and these are some of the
things you want to. Avoid you are listening to The
Haven Financial Group Radio.
Speaker 1 (33:18):
Show don't go too. Far we're gathering more important insights and.
Retirement please devinent The Haven Financial Group Radio.
Speaker 3 (33:25):
Show we'll be right.
Speaker 1 (33:27):
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. Karagan no back to the.
Speaker 2 (33:40):
Show good morning once, again and welcome back to The
Haven Financial Group Radio. Show thanks for spending some time
with us this, morning and feel free to give us
a call at six one two FIVE o four eighty
four hundred and Always Havenfinancial group dot. Com check out our,
classes upcoming classes and a variety of these retirement topics
At Aven Financial. Group proudly happy for our tenth year.
(34:04):
Anniversary how quickly tenures goes. By it's hard to believe
when we open the doors. Here so again we thank
our clients and we thank those that we've been able
to speak to over those ten, years And god willing another,
ten another, ten and who knows how many more Ten, kim.
Speaker 4 (34:20):
Absolutely, well congratulations to you and all of your wonderful.
Staff you, Know tim certainly does. Fly you said we're
coming upon the fourth. QUARTER i, thought, wow the fourth
quarter already of twenty twenty, five which is an important,
time the fourth, quarter certainly for tax planning. Purposes But,
LARIA i think you also want to remind everybody that
this is the time of open, enrollment correct.
Speaker 2 (34:41):
Open and annual open Enrollment october fifteenth Through december. Seventh
for those of you that are on medicare exploring, medicare
having these discussions in advance of when you need to
get on medicare because there's lots of. Questions it's why
our medicare made simple classes, which by the, Way medicare
is not. Simple healthcare can get very, complicated And i'll tell,
(35:04):
You Glennon isabella at the office here do a great job.
Educating we have access to all the companies and we
are able to. Help but make sure that you're leading on,
somebody that you're not just going with the first person
who SAYS i think this one's the right one for
you without looking at all the. OPTIONS a discussion on
companies should not. Happen it should be what are your
(35:28):
health care, needs what medications are you, taking what doctors
do you? Use and the last thing would be comparing
the costs of what insurance. Companies so get on the
right page with the right people to make sure you're
not paying what a lot Of americans are. PAYING i
just read a study up to seven hundred dollars a
year by not being in the right.
Speaker 3 (35:47):
Plans.
Speaker 4 (35:48):
Wow, yeah seven hundred dollars a year is a. Lot
having said all of, That, larry we want to talk
about some of the missteps that people want to. Avoid
but before we, do tell, me what do you think
is one of the biggest missteps that folks make as
they enter.
Speaker 2 (36:03):
Retirement, yeah BEFORE i address, that because there's a couple
that stick out is you know the accumulation, years you,
know building of your retirement monies and building for. Retirement you,
know that's the accumulation. Years and then you get to
the preservation slash distribution slash preservation those. Years And i've
(36:24):
heard it so many. Times just this last WEEK i
heard it at least twice where a couple both, said
the guy that has helped us up until this point
through our accumulation years had has got us. Here but
we do not have the confidence he can get us
through the retirement, years and they are a different season of.
Speaker 3 (36:41):
Life they certainly.
Speaker 2 (36:43):
Are SO i would, say no matter what age you,
are but for, sure if you're you, know five years
or in retirement or whatever it, is give us a
call to talk through these. Things but the big one
is not having enough to last you through. Retirement the
big question DO i have enough to? Retire or when
AM i going to run out of? Money based upon, inflation,
(37:05):
expenses et. Cetera kind of an important. Question, okay AM
i going to run out at seventy five ninety? Five
or AM i never going to run out of?
Speaker 3 (37:13):
Money so we'll build out those.
Speaker 2 (37:15):
Projections, yeah life could, happen but it will adapt when
those life events. Happen so that's a big. One avoiding
the stock. Market we are wealth. Management my investment team
of twelve we do wealth management and we would do
what you would expect of a wealth management. Company avoiding
the stock market is you, know to perceive all the
(37:36):
volatility which can adversely affect long term savings. Goals over
the long, run the stock market will. Perform it shows
better returns over. Time now those are longer periods of,
time and retirees maybe don't have as much. Time but
avoiding it for many is not the right, decision or
(37:56):
for not avoiding it to some degree could have the opposite.
Effects so we encourage our clients to stress test your,
portfolio making sure you're in the right spot you can
weather the storm when things get rocky and. Shoppy and
WHAT i found is most people just don't. Know they
don't know because they're not really.
Speaker 3 (38:16):
Involved in their.
Speaker 2 (38:17):
Investments they don't know because nobody's helping them explain how
much risk they're, taking and they're really at the mercy
of the timing of the market when they, retire and
that can be very. Dangerous so know what you're doing
to whatever risk you're, taking stress test the. Portfolio that's
a good, place but avoiding it is the wrong decision for,
(38:37):
some and avoiding it more is the right decision for many.
Speaker 3 (38:41):
Others so that's just a couple.
Speaker 4 (38:42):
SURE i think neglecting's estate planning has to be one
of the big. ONES i realized that this is a
really difficult subject to. Broach but for as difficult as
it may seem for two people to address, this imagine
how difficult it would be for those you leave behind
a state.
Speaker 2 (39:02):
Planning there's a reason why the last STATISTIC i said
eighty five percent Of americans do not have a competent,
plan which that means it's incompetent and not going to
do what they want it to do when called. Upon
that is that's a huge number and we see. It
it's why we partner With Provision Law Carrie ann And.
(39:23):
Keith they come into our office and do evaluations and review.
Speaker 3 (39:27):
And do no cost.
Speaker 2 (39:28):
Consultations, yeah if you don't have come on in and visit,
again there's no cost for an initial consultation with, them you,
know not updating wills or having a trust or powers of.
Attorney and this applies to eight adults that are eighteen and,
above so it shouldn't be taken. Lightly one that's so
common is do you have beneficiaries on all your? Accounts
(39:51):
and we SEE x spouses and no beneficiaries AND i
don't know about my. Beneficiaries who is my? Beneficiary, well
if you don't, know that's a potential problem just waiting to.
Happen so part of what we do is make sure
we have good DIBs on who the beneficiaries are to
make sure that something's not gone by the. Wayside so
(40:13):
a state planning really is a big. One and here's
one you know a lot of, People, Well i'm just
going to continue to, work And i'll just continue to
work past retirement. Age and guess what unforeseen circumstances all
all of a sudden life. Hits there's, LAYOFFS i got
a pink, slip there's health, issues and guess what that
oftentimes doesn't hold water because life. Happens our bodies give
(40:38):
out aches and, pains and you just can't do it
anymore because you're not twenty, thirty forty or even fifty.
Speaker 4 (40:45):
Absolutely and you, know just, spending, spending, spending, Spending that
is a real problem for those who are entering.
Speaker 2 (40:53):
Retirement, well not knowing where you're, spending underestimating your, spending
maybe not having a, budget underestimating health care and. Retirement you,
know you should know what your habits and what your
retirement habits, are where your money's, going and oftentimes, GO
i think we're burning through it a little faster we
thought we. Were and, again have that, discussion not a fun,
(41:17):
discussion but probably an important. One and then you got
the emotions THAT i think last week we talked about
the psychology of money and. Investments you, know the markets
are up and, down and when the markets are, down
you're ready to jump off the cliff or you can't
sleep at. Night, well if that's, you you're probably not
where you should. Be so maybe get in the right,
(41:38):
spot get in your comfort zone based upon your, decisions
so you're not one of them that has untimely decisions
leading to significant setbacks in your long term planning and for.
RETIREMENT i hope it is long term planning.
Speaker 4 (41:53):
Right and you, Know, larry one final one that kind
of sticks out to me because you've talked about, it
is that a lot of people think that when they
go into retirement they won't pay as much.
Speaker 2 (42:03):
Taxes, well we find is people pay more taxes in
retirement and that DOESN'T i know that's not a good
feeling or a nice thing for me to, say but it's.
Reality you, know a lot of people that are nearing
or in retirement a good percentage have done a good
job saving for retirement in pre tax, accounts and eventually
there's going to come a day where those moneies are
(42:24):
going to have to come, out and where are they
going to be? Taxed at a high tax bracket when
Your Social security is on your pensions on if you're
fortunate to have. That so we see taxes are more
relevant in retirement than ever. Before so it's why we're
very big into forward thinking tax, planning doing what you
(42:45):
can when your income is a little lower oftentimes in
those earlier retirement, years to minimize the tax impact in
those later years when you have to do required minimum.
Distributions so it's just using the tax code, code which
doesn't always make sense to your benefit to the best
of your. Ability but if you're only getting taxes prepared
(43:08):
and you're not doing tax, Planning i'm. Guessing and it's
not a guess BECAUSE i see it many times during
every week that you're not being tax efficient with your
hard earned retirement.
Speaker 4 (43:19):
Dollars, right all, Right, So, larry we have talked about
the key to staying retired for. Good we know that
there are a lot of people who are listening out
there who are thinking to, Themselves i'm not AN nfl.
QUARTERBACK i only want to retire one, time and we
hope that we've given you some ideas about how to
go about doing just. That but if you need a
(43:40):
partner to help you and to be perfectly. Honest, folks
most of us do need a. Partner. Again we only retire.
Once give the folks that have even financial group a.
Call it's six one two five zero four eight four zero.
Zero let me give the number too you, again it's
six one two five zero four eighty four. Hundred let
them know you heard us here on the. Radio you'd
(44:02):
like to, retire and you'd like to retire just, once
and you're looking for a. Partner, lariy this has been.
Speaker 2 (44:08):
Fun it has Been kim always going to be with
you and look forward to next week and.
Speaker 3 (44:13):
Go Vikings.
Speaker 5 (44:15):
Investment advisory service is offered Through Guardian Well STRATEGIES. Llc
Haven Financial group And Guardian Well STRATEGIES llc are not affiliated,
companies and investments involve, risk, and unless otherwise, stated are not.
Guaranteed please consult with the qualified financial advisor and or
tax professional before implementing any strategy discussed. Herein and comments
regarding as safe and secure investments and guaranteed income streams
(44:38):
only refer to fixed insurance. Products they do not refer
in any way to securities or investment advisory. Products fixed
insurance and annuity product guarantees are subject to the claims
paying ability of the issuing.
Speaker 1 (44:48):
Company
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