Episode Transcript
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Speaker 1 (00:06):
Tonight.
Speaker 2 (00:06):
If your goal is to someday achieve financial independence, here's a.
Speaker 1 (00:10):
Little tip for you.
Speaker 2 (00:11):
It's really not all about the money you're listening to
simply money present of my all Worth Financial I Memi
Wagner along with Steve Ruby.
Speaker 1 (00:18):
Steve this is a financial show.
Speaker 2 (00:20):
And we talk a lot about money and financial ways
to successfully get yourself to retirement, which we consider financial independence.
But there is a lot more to this picture.
Speaker 1 (00:32):
Than just the money aspect of it.
Speaker 2 (00:34):
And for those I think who are really successful, they
get these things right, let's talk about what those look like. Well.
Speaker 3 (00:41):
I mean, the key is open communication. That's the foundation
of any real partnership. When you have a married couple
planning for retirement together, you need to be on the
same page. You have to have discussions about your goals,
what worries you, what keeps you up at night, what
are your expectations, how do you envision spending your time.
I'm with each other in retirement, because that's that's twenty
(01:02):
or thirty years without working for many people, it's a
long time to make sure that we're on the same page.
And it's scary because I've seen in meetings where people
come in and they've never worked with an advisor before,
and then we're having kind of a fact finding conversation.
Speaker 4 (01:17):
You know, I sit down, I ask questions.
Speaker 3 (01:19):
I learn about somebody's financial situation, their needs, their goals,
because that really shines light on ways it is that
a fiduciary financial planner can help. And it's surprising how
often there are just riffs in what the expectations are
for retirement between two.
Speaker 1 (01:37):
Belie because they never talked about it, right. I mean,
it's surprising that, you know, for so many.
Speaker 2 (01:41):
People who plan on Sunday retiring, that you can live
with someone day in and day out and really not know.
Speaker 1 (01:47):
What that's going to look like.
Speaker 2 (01:48):
I think it's helpful to think of your home like
a business, right you would be communicating with your business
partner about, you know, what are our goals for this business,
what are our goals for the next year, for the
next decade, what does this look like?
Speaker 1 (02:05):
You know?
Speaker 2 (02:05):
And I love Al Ritick, who's a regular on the
show from Game Time Budgeting.
Speaker 1 (02:08):
He has such great advice. He and his wife have like.
Speaker 2 (02:11):
A monthly, in quarterly and annual meetings in every single
dollar of their income is already earmarked for something, they
are very.
Speaker 1 (02:21):
Intentional about it.
Speaker 2 (02:22):
I follow someone on Facebook, a Facebook friend, who was
recently talking about the fact that she and her husband
do a quarterly off site meeting, which I'm assuming means
out of the house and away from the kids, where
they talk about things like future goals and how they're
going to fund them. And speaking of goals, there's a
lot of times couples like you're kind of talking about
(02:45):
are just on really different pages. Right, there's a saver,
there's a spender. They don't see eye to eye when
it comes to money. And if that's you and that
sounds really familiar to you, I would say one really
good thing.
Speaker 1 (02:57):
To start with is what are our goals?
Speaker 2 (03:00):
If you can agree that, you know, some day we
want to retire and be able to spend January somewhere warmer,
or we want to be able to help our kids
pay for their wedding or there you know, help fund
five twenty ninees for college.
Speaker 1 (03:15):
If you can get in.
Speaker 2 (03:16):
Line behind goals and agree on those, then it helps you.
It helps affect those financial decisions that come from it. Right,
if one of you is making a decision, I'm going
to spend five thousand dollars on this thing that doesn't
help you get to that goal, then it's okay to
remind that person.
Speaker 1 (03:32):
Yeah, it's a great place to start.
Speaker 4 (03:34):
Yeah, it certainly is.
Speaker 3 (03:35):
So having kind of a shared vision for your goals
is obviously key here because the next step is understanding
the numbers, how do we make this happen as a
team and the goals By the way, I mean, I've
had people come in and it's like, yeah, we're going
to move out into the country, and the other ones
like I thought we were going to move into the city. Yeah,
I'm talking about like big riffs between the vision for retirement,
(03:59):
so community starting with communications, sitting down mapping out the goals.
You gave a really good list of very common goals
that retirees are working towards.
Speaker 4 (04:07):
But how are we going to pay for them? Assets?
Speaker 3 (04:10):
What kind of liabilities might we have in retirement? For
some people, it's very important to go into retirement with none.
Others are okay, it's fine, we can have a mortgage.
I'm totally okay with that. That won't keep me up
at night, but it might keep the other person in
the relationship up at night, and that's that is not
a foundation for financial happiness and security. You've got to
be on the same page with your goals and then
understanding the numbers behind how you pay for it, because
(04:33):
at the end of the day, we all want to
make sure. A shared goal between most folks is making
sure their money lasts longer than they do. I would say,
but how do we make that happen? As having an
understanding of the assets and the liabilities that you're comfortable
having and how that's going to be earmarked for different goals.
Speaker 2 (04:49):
You're listening to Simply Money presented by all Worth Financial
I Memi Wagner along with Steve Ruby. If your goal
is someday financial independence, right, being able to retire and
not spend every night up a night worried about outliving
your money right?
Speaker 1 (05:02):
If that's if your goal is to get there and to.
Speaker 2 (05:05):
Really enjoy it, what are the things beyond the financial
aspect of it that you've got to get right?
Speaker 1 (05:11):
I think it's a shared vision with your spouse.
Speaker 2 (05:15):
I think a lot of it is communication, getting on
the same page and listen.
Speaker 1 (05:19):
This starts. I think when you're dating, it starts. You know,
once a.
Speaker 2 (05:23):
Relationship turns serious, you should start having financial conversations. Now, listen,
I'm not saying this is a first date kind of
a thing. Tell me about your credit score and what
are your goals. But when a relationship, it's a type.
That's why I would be terrible in this dating world.
Now I would, I would not do well. But once
(05:43):
a relationship gets serious, I think setting the foundation for
normal conversations around money can really.
Speaker 1 (05:52):
Get a relationship going in the right direction, you know, and.
Speaker 2 (05:54):
Just even for the success of that relationship when you
look at the divorce rates and how many of those
divorces come from tension over money.
Speaker 1 (06:02):
If you get started out on.
Speaker 2 (06:03):
The right foot together, having open conversations about money, sharing
common goals, figuring out how to get on the same page,
maybe not on everything, but on the big things, you're
going to be so much better off.
Speaker 1 (06:15):
And then I also think.
Speaker 2 (06:16):
What I see very very often is one person takes
the lead on finances, long term investments, understanding what we
have in our form owing caves and our iras or
their brokerage accounts. Outside of that, do we have a
health savings account, what are our plans, what are our stocks,
how are we invested?
Speaker 1 (06:35):
All of those things?
Speaker 2 (06:36):
It's usually one person is in charge of those things.
The problem is what I often also see is the
other person kind of sticks their head in the stand
around that stuff, saying like, I don't understand it, it's
not my thing. And I think that is to the
detriment of the relationship and to both of you.
Speaker 3 (06:56):
Yeah, you don't have You don't have to wait until
transitioning into retirement to sit down with a fiduciary financial
planner that can help you navigate this as a team,
help you facilitate these conversations, help bring you together to
make sure that you're identifying shared goals and the process
(07:17):
for how to achieve them. You know, a lot of
people think they need to wait until they're retired to
sit down with somebody, But it's totally fine ten fifteen
years out from retirement. I encourage it, in fact, because
if there are gaps between where you are and where
you need to be, the more time that's on your
side to close them, the more opportunity you have to
actually be successful.
Speaker 2 (07:37):
I would say there's also four other kind of critical
elements to just a successful transition into retirement.
Speaker 1 (07:43):
And this is based on a lot of research that
we have done. It all worth.
Speaker 2 (07:46):
And when you think we have helped thousands, tens of
thousands of people retire and retire well over the years,
we found it really comes down to four major things, right,
beyond just that communication, beyond those shared goals, and one
of them is prosperity, and that's just feeling content about.
Speaker 1 (08:05):
Your financial situation. Right. There's not anxiety on the.
Speaker 2 (08:08):
Table, you're not worried. You feel good about what you've
done to this point. You feel good about the capable
financial hands that you're in, you feel good about the
financial decision making, and I think.
Speaker 1 (08:20):
That is just a great peace of mind.
Speaker 3 (08:22):
That's kind of what you're paying for when you work
with a fiduciary advisor. You're paying for peace of mind
and helping you live a prosperous life based on the
resources that you have, helping you live within your means
but still thriving in retirement. So you know, that's a
great point. Another thing that you need to remember is
is having the right people around you, just the importance
(08:43):
of connections, staying social and not being lonely. Loneliness can
have a major impact on your health. And when we
talk about health along with financial planning, it's a good reason.
It's because healthcare can be very, very expensive. So making
sure that you have connections and your fostering them. You
have that you know, that social life post work it
(09:03):
is very important.
Speaker 2 (09:05):
We've done so much research on this and it really
comes down to not only relationships and connections, but like
purpose and meaning. And you know, we've helped connect you know,
clients to other clients who are passionate about certain organizations
and things like that. But you know, there are ways
to find that online, you know, searching around you know,
(09:27):
this is important to me, or you know, I have
clients who used to be teachers and they just miss
kind of being around children and inspiring them, and so
they've gotten on some websites where they're able to help
with tutoring kids and things like that. Don't wait until
you get to the first day of retirement and you're
looking at yourself from the mirror and you're like, what
am I going to do with myself today?
Speaker 1 (09:47):
I have no idea what this is going to look like.
Speaker 2 (09:50):
I'm a huge proponent of taking a practice retirement, So
maybe a.
Speaker 1 (09:54):
Couple of years before you get to that point. You
use all of your vacation at.
Speaker 2 (09:58):
One time whether it's two weeks or a month, you
don't go anywhere, you don't make any major plans, and
you just figure out what it feels like, what do
your days look like, and if you're feeling like by
day four, like I'm so bored, I don't know what
to do.
Speaker 4 (10:12):
It's terrible.
Speaker 3 (10:13):
I'm just sitting around, I'm sleeping all day and I'm
staying up all night watching TV.
Speaker 1 (10:17):
Yeah, ding ding ding. You better do something about that.
Speaker 3 (10:21):
Yeah, that's a great and point of having intention with
your days, making sure that you're staying active. Volunteering, maybe
maybe part time work is an opportunity to get out
there and stay active. There's certain a lot of folks that,
you know, they retire from their high stress, demanding jobs
and then they take on an opportunity that might you know,
give them a little bit of benefits but a little
bit of pay. But at the end of the day,
it's something to keep active and busy because again, it
(10:44):
ties back to health and wellness, you know, staying active,
you know, going for walks, it helps and enhance endurance.
It's a boost to your health. I mean again, it
might seem silly on a money show to talk about
this stuff, but it is really important to stay active
in retirement.
Speaker 4 (11:00):
Just want to sit around and do nothing.
Speaker 3 (11:02):
I mean, technically, if that's your thing, go for it,
if that's what really makes you happy at.
Speaker 4 (11:05):
The end of the day.
Speaker 3 (11:06):
But there's a lot of research out there that shows
that this is going to equate to a better retirement.
Speaker 2 (11:14):
I'm really close to my aunt Mary Joe, and she
retired a few years ago, and I think I can
hold her out as like the best example I've probably
ever seen for how to retire. Well, the first few
days she was like, oh, this feels a little weird,
but then she got into a group.
Speaker 1 (11:28):
She walks her dog twice a day. Like far, she
has more energy than anyone I know. She's actually lost
weight in retirement.
Speaker 2 (11:35):
She's really just smart, intentional about eating well.
Speaker 1 (11:39):
She still goes to Happy Hour in dinner with some
friends from work.
Speaker 2 (11:44):
She's got grandkids that she spends time with, she spends
time with our family.
Speaker 1 (11:48):
She's always busy and she's found meaningful ways to fill
her days.
Speaker 2 (11:53):
And I'm just like, I look at it, I'm like,
that is what I want, and it doesn't happen by
not making plans and not having a vision for what
retirement is going to look like. Here's the all Worth
advice the best ingredients for a successful retirement. Yes, they
involve money, but also purpose, relationships and good health.
Speaker 1 (12:13):
So spend some time cultivating each of those things before
you get to that age of retirement.
Speaker 2 (12:18):
Coming up next, we're talking about navigating financial and legal
matters during one of the most difficult times in life.
You're listening to Simply Money, presented by all Worth Financial.
Here in fifty five KRC the talk station. You're listening
to Simply Money presented by all Worth Financial and Memi
(12:38):
Wagner along.
Speaker 1 (12:39):
With Steve Ruby.
Speaker 2 (12:40):
If you can't listen to Simply Money every night, we
have a daily podcast for you. Just search Simply Money
on the I Heard app or wherever you get your
podcasts and.
Speaker 1 (12:48):
STRAIGHTA Had at six forty three.
Speaker 2 (12:50):
We are taking your questions about things like medicare, estate planning,
and much more. We're just talking a few minutes ago
about the importance of if you are married, if you
have a partner, being on the same financial page. One
of the huge reasons why we're big proponents of that
is if something were to happen to.
Speaker 1 (13:08):
One of you, would you know what to do next?
Speaker 2 (13:12):
Would you know who to call? Do you have a
relationship with that person? How comfortable would you be? And
see if I don't think I can I can overstate this.
Speaker 1 (13:21):
But it is such an emotional time.
Speaker 2 (13:24):
It is overwhelming, and if you're having to call strangers
at that point h and ask for help, I just
think it's almost too much.
Speaker 3 (13:33):
Yeah, I mean, that's that's why we encourage making sure
that you're meeting as a couple when it comes to
annual reviews. For example, when when you have an advisor
that you're working with, because some of the first people
that you're you're going to contact, or your financial and
legal team if something happens, spouse passes away, where do
you start? You know, if if you've worked with professionals
in the past, attorney, accountant, financial advisor, you know this
(13:58):
this is a time you need to reach out to
them asap. They're going to be crucial in helping navigate
any kind of financial aftermath and provide guidance on next steps.
Speaker 2 (14:07):
Yeah, know who your people are, right, be familiar with them,
and I think they can also help you if you're
overwhelmed during this time with saying okay, here's the next
thing that you should do. But most of the time
it is okay, where are the estate planning documents? And
I would also go even just beyond the estate planning documents.
You know, passwords for logins, two accounts, right, These are
(14:30):
the things that need to be gathered beforehand or else
it can be a mess to try to unwind these
things afterwards if you don't even know how to log
into bank accounts or even social media accounts and things
like that.
Speaker 1 (14:41):
And also death.
Speaker 2 (14:42):
Certificates, requesting in I say maybe fifteen twenty of these,
it's amazing. Even years later, yeah, even years later, you
may be asked for a death certificate for something. So
having enough of these on file just to send them
or share them when you need to can be incredibly help.
Speaker 4 (15:00):
Yeah.
Speaker 3 (15:01):
I mean, if there are state planning documents such as
a trust or a will that are intact, then having
copies of those legal documents are obviously going to be
very important. It outlines your spouse's wishes on what needs
to happen next. If it's a trust, then it's going
to help make sure that assets and property avoids probate.
And remember that you know this is overwhelming and you
(15:24):
don't have to go at it alone that you know,
there's financial professionals that you should be reaching out to.
But even then, you know, maybe a trusted friend or
family can help you kind of organize and navigate who
to reach out to and when to reach out to it.
You know, it kind of takes a village in the situation.
This isn't something that we're saying, you know, dood alone.
(15:44):
If you have, if you have people in your corner
friend's family that can help you navigate this, then I
certainly strongly would encourage it because this is it's difficult,
and it's emotional, and there's a lot of challenges.
Speaker 2 (15:55):
Yeah, we're not saying do it alone, and we're not
saying you need to do this in twenty four hours
or within one week, but you know, sometime and you know,
the first few weeks months.
Speaker 1 (16:05):
Something like that.
Speaker 2 (16:06):
There's certain organizations that need to know, right, one of
them being Social Security, any insurance providers, is there life insurance,
health insurance, you know those kinds of things, right, Those
companies need to know.
Speaker 1 (16:18):
At some point, credit.
Speaker 2 (16:19):
Bureaus right need to be looped in on this, and
then if that person is still working, you know obviously
employer's employers retirement plans and things along those lines.
Speaker 3 (16:30):
If you'd never if you don't have an inventory of
some of these accounts, then then it risks you risk
the money kind of falling into a void essentially, which.
Speaker 1 (16:41):
Really happens more often than you'd think.
Speaker 3 (16:43):
Yeah, a former employer isn't going to know that somebody
passed away unless they are told. And if that happens
and they're not told, then that money can can essentially
be lost from you. And I mean there's a process
once it's uncovered to get back, but it's it's a
lot of paperwork, so let's avoid it.
Speaker 2 (17:03):
And then once you have that death certificate, right, a
next step then would be to make sure that all
the assets that were in that spouse's name are now
transferred to yours. You know, think about things like bank accounts,
investment accounts, property.
Speaker 1 (17:15):
Titles, all of the vehicles.
Speaker 2 (17:17):
Right, And again doesn't have to be day two, does it,
or doesn't have to be week one, but at some
point these things do need to be taken care of.
Speaker 1 (17:25):
It just makes it easier when these things have.
Speaker 2 (17:29):
All been handled and you know assets have been transferred,
and then you know you're able to move forward.
Speaker 3 (17:36):
Yeah, when you're dealing with your investments too, it's worth
noting that maybe don't make any big decisions. I'm talking
about how they're being invested, how they're being handled. You know,
just because something like this has happened doesn't mean that
you need to sell everything to cash while you may
while you wait for the you know, opportunity to get reinvested.
(17:58):
These are emotional times, and we don't want to make
big decisions with how our money is being invested during
emotional times.
Speaker 2 (18:05):
On the flip side, I have a couple of widows
that I that I work with who recently like came
on board and it with very similar stories and that
their husband passed away. They had largely handled all the
finances and so for the first five years seven years
after that person had passed.
Speaker 1 (18:24):
Away, they really kind of admit, like, I just put
my head in the sand. I was overwhelmed by this.
Speaker 2 (18:31):
I didn't do anything, and you know, and now that
fall is starting to lift, and I think, gosh, if
they were in a relationship with that financial advisor.
Speaker 1 (18:38):
Before, it wouldn't be so overwhelming, right.
Speaker 2 (18:41):
They missed out on some opportunities of things that they
could have done, you know, a few strategies along the
way that could have made a difference, and that legacy
that both of them had planned for together.
Speaker 1 (18:51):
And so I say, you know, don't make decisions too quickly,
but also don't stick your.
Speaker 2 (18:55):
Head in the sand and let five ten years go
by and just be aid to be part of this
decision making process.
Speaker 3 (19:02):
Well, that's why it's so important to contact your team,
you know, whether it's attorney, accountant, financial planner, because you know,
an example is this might be your last time married
filing your taxes jointly, and it's a potential opportunity to
realize gains or maybe do some larger wroth conversions. So
(19:23):
when I say do nothing, it's more along the lines
of don't react emotionally. Yeah, however, work with your team
because there may be some missed opportunities if we don't
act on some of these things sooner rather than later.
Speaker 2 (19:36):
Here's the all Worth advice. Listen, the death of a
spouse can be an incredibly overwhelming time. Please stay close
to those who you trust and lean on them to
help you.
Speaker 1 (19:45):
To Stay's point, make sure you've.
Speaker 2 (19:46):
Got that team that you need in place. Coming up next,
some of the best ways.
Speaker 1 (19:51):
To improve your home's value.
Speaker 2 (19:53):
You're listening to Simply Money, presentably all Worth Financial here
in fifty five KRC the talk station. You're listening to
Simply Money, presented by all Worth Financial. I'm Amy Wagner
along with Steve Ruby. Lots of statistics show us that
many of us are choosing to stay in our homes
for longer than we ever have before, and so for
(20:15):
many it becomes a question of should I spend money
on some upgrades, and if I'm going to do that,
which ones might get the biggest bang for the buck, right,
the best return on investment. Joining us tonight with of
course our fantastic perspective on all things real estate, the
best money to put into your home, the best ways
to think about moving and selling is Michelle Sloane, a
(20:36):
real estate expert from Sloan Sells Homes of course, the
open house Sundays at four o'clock right here on fifty
five KRS and owner of Remax Time.
Speaker 1 (20:44):
Michelle, what do we say to people?
Speaker 2 (20:46):
I mean, first of all, this is a trend you're
seeing right, people are staying in our homes for longer.
Speaker 5 (20:50):
Absolutely, you know when I got into the business. Twenty
years ago, people were moving every five to seven years.
Now we're seeing people staying in their home for eight
to ten to twelve to twenty years. And so if
you're going to stay in your home that long, you
really shook should look at more than just maintenance. You
need to look at upgrades that may cost you a
(21:12):
little bit, but you want to do those upgrades in
a way that you're going to get your return on
the investment when it does come time to sell.
Speaker 1 (21:19):
So let's jump into where to start here.
Speaker 2 (21:23):
I know that if I'm looking at a home online
or whatever, if there's like what looks like old nasty
carpet or I'm like, no, absolutely not.
Speaker 1 (21:32):
It like even in the pictures, it feels dusty yucky
to me. So is flooring a good upgrade to.
Speaker 5 (21:39):
Make Flooring is the number one upgrade that you're going
to get the return on investment. Now, you may have
to spend a little bit more, and replacing carpet with
carpet is not necessarily the way to go to get
the biggest return on investment. So it may be the
most economical thing to do. But if you're planning to
(22:02):
live in your home for a while and you want
to enjoy it, why not do something a hardwood or
even refinishing a hardwood. If you have hardwood in your
kitchen and your entry and maybe the first floor bathroom
most likely if your house was built in the last
twenty years or so, that's kind of what you have.
(22:23):
And it's interesting because I had a new listing. It
wasn't a new home, and the home was thirty years old.
The hardwood in the kitchen was so beat up, but
it was hardwood, so you didn't have to replace it.
You just had to refinish it. And honestly, for the
three thousand dollars that it cost that buyer or that seller,
(22:46):
the homeowner is going to get probably about five thousand
dollars back, if not more, because the look of that
looked brand new once again. And the statistics are showing
and this blows my mind. Just hardwood. Okay, let's look
at hardwood floors. We have so many other products too,
we have luxury vinyl tile and all that, but I'm
just talking about hardwood. If you refinish hardwood floors, you
(23:09):
can get up to one hundred and forty percent back
on that investment.
Speaker 1 (23:15):
Wow.
Speaker 5 (23:16):
Crazy, right, and installing new hardwood flooring can add one
hundred and eighteen percent return on your investment. So you're
going to get your money back on the flooring, especially
if you do something that is lasting and that way,
if you're going to plan to use it. And because
my homeowner we refinished the hardwoods in her kitchen and
(23:36):
she's like, oh, maybe I don't even want to move
now because they look so good, and it's like, well,
at least the new person is going to walk in
and say, oh, that's one less thing that I have
to deal with because the hardwood in the kitchen looks better.
So definitely, your flooring improvements are going to give you
a big bang for your buck.
Speaker 1 (23:55):
Let me ask you this, Michelle.
Speaker 2 (23:56):
I know that a lot of things in real estate
a trendy.
Speaker 1 (24:01):
Is hardwood here to stay for a long time?
Speaker 2 (24:04):
Or is it something that five years from now people
who are going to say, oh, but I actually want xyz.
Speaker 5 (24:10):
You know, hardwood has been around since I mean there
are one hundred year old homes that still have hardwood floors,
and they are coveted over the years, especially the homes
in Cincinnati that have been around forever and ever. You know,
underneath the carpet. There is hardwood, and there's beautiful hardwood.
All it needs to be is refinished. So whether you
(24:32):
have like a one inch chardwood or something wider, hardwood
really does stand the test of time. Now there is
luxury vinyl tile that will last a long time and
it will look like wood. But if in the future
it gets scratched, scraped, you know, holes in it, whatever,
you can't refinish that. There's there's no underlying layer, so
(24:57):
the only option will be and again they they're pretty
hard but you have to replace it. And with hardwood
you can probably get two or three refinishes until it's
time to actually replace it. And like I said, if
you get real hardwood, real wood, full wood, it's going
to cost more, but it will last a really long time.
(25:18):
So I never think that that's going to go out
of style. The color, the stain, you know, the finishes
of that hardwood may change over the years. But the
good news is when you do refinish it, it's a
fresh start. You can go darker, you could go lighter,
you can go shiny, you can go matte finish, and
it's the same flooring and it can have a brand
(25:38):
new look.
Speaker 2 (25:40):
What other upgrades are things can we do to our
home to really increase the value of it.
Speaker 5 (25:45):
Okay, so I'm going to say make it bigger, and
what I mean by that is adding a room, if possible,
adding a bathroom. Maybe your lower level isn't finished. So
if you're making it bigger and giving yourself more living space,
you are creating more living space. You're giving yourself a
(26:07):
bigger footprint within your home. Now, some people will add
a sunroom. Huge return on investment on a sunroom. What
about your garage maybe you want to do and again,
if you're talking about some really serious construction, it's going
to cost money. You know, you want to make sure
that you are hiring the right people to do that correctly.
(26:29):
But adding a sunroom, adding a deck outdoor spaces a
kitchen expansion. I see a lot of people that are
still taking walls down between a kitchen and a dining
room to make that kitchen dining room all one big space.
Speaker 4 (26:46):
Love that.
Speaker 5 (26:47):
Yeah, adding a shed or a barn if you're allowed
in your homeowners association allowing that to happen. I've seen
so many people turn what was an office into a
bedroom on the first floor, so that if someone is unable,
if you have a standard two story and you can't
get somebody to get up the steps and you want
(27:07):
to stay in your home longer, you create a bedroom
on that first floor where the study was and turning
a half bath into a full bath on the first floor,
which again is something as we are aging, our population
is aging. If you have the opportunity to have two
somewhat primary suites within your home, you are creating tremendous
(27:30):
value in your home.
Speaker 2 (27:32):
So when I'm looking at a house, Michelle, I zero
in on two rooms, the kitchen and the bathrooms, and
I like those to be updated because I know if
they're not how expensive, right, those upgrades are? Anything else
I can work with, right, terrible carpet, terrible paint colors,
anything else.
Speaker 1 (27:49):
It's cosmetic, right yeah?
Speaker 2 (27:51):
Yeah, And so I'm wondering do other people feel that way?
Is it smart to make investments in the kitchen in
your bathrooms?
Speaker 5 (27:57):
Always? Absolutely? You know, if you have a laminate countertop
and you haven't gone to a solid surface like a
granite or something like that, or a quartz, having that
upgrade in your home is a tremendous value. And again,
the price of a lot of these things. While it's
still expensive, I'm not going to discount the fact that
(28:19):
if you're going to be doing an upgrade in your
kitchen or your bathroom, or you're going to be moving
things around, if you're moving any plumbing, that's going to
be expensive, especially in a bathroom. So you want to expand.
Maybe you have one of those giant tubs in the
bathroom that you've never used. It's a built in tub
from twenty thirty years ago. Nobody ever uses it except
(28:43):
for maybe two I don't know.
Speaker 2 (28:45):
Never, but it's.
Speaker 5 (28:48):
A dust magnet y. So you tear that out and
you create a bigger shower, maybe more closet space. You
can do a lot with that space. But of course
you're moving some things around, probably gonna a have to
hire somebody me. You're gonna have to, you know, look
at your costs and see what it can look like.
(29:09):
And it really does. I mean, a primary bathroom that
is updated with the larger shower and getting rid of
the soaking tub that ninety percent of people don't want
or need or use is a good thing. Remodeling the
kitchen same thing. If the cabinets are old metal cabinets
and you replace them with some nice newer wood cabinets
(29:31):
that are you know, look great. That's awesome. Adding a
backsplash in the kitchen. There's the flooring, and we talked
about flooring being such a big deal. Flooring in the
bathrooms and the kitchens. If you have and this is
my pet peeve of the whole wide world, you ready
and ready have if you have carpet in the bathroom.
Speaker 2 (29:51):
Oh yes, please terrible, please please take it out. A
great perspective from Michelle Slone, our real estate expert, on
how you can stay in your home longer, enjoy more,
and also increase the value of your home. You're listening
to Simply Money presented by all Worth Financial here in
fifty five KR see the talk station. You're listening to
(30:12):
Simply Money presented by all Worth Financial. I Meanan Wagner
along with Steve Reeb. You have a financial question you
need a little help with, Well, there is a red
button you can click them while you're listening to the show.
It's right there on the iHeart app. Record your question
and it's coming straight to us. Speaking of those questions,
we've got several of them from you guys tonight, starting
with Gary in Batavia.
Speaker 3 (30:31):
If I retire before Medicare kicks in, what are my
health insurance options? So I mean, it really boils down
most of the time to Cobra and going to the exchange.
So Cobra is helpful because it keeps things the same
kind of when I say the same.
Speaker 2 (30:47):
Keeps your benefits the same, not how much you're paying
for them exactly.
Speaker 3 (30:51):
It keeps your benefits the same, But I'm talking that
the costs can go, you know, multiplicative of five. You know,
you learn how much your employer was really paying for
your health care benefits when you switch to Cobra and
you're like, oh my god, why is it saying I
owe two thousand dollars a month? In very extreme situations.
So you know, there's certainly for shorter periods of time,
(31:11):
if you're you know, you're sixty four years old, and
you know you're no longer with your employer, and you
know you're coming up to Medicare here quickly, sometimes people
do opten to pay more to keep things uniform. But
if you have a longer period of time, even beyond
what Cobra will cover, for example, then that's where you
go to the healthcare exchange and there's insurance brokers out
(31:31):
there that can help you navigate that to find something
comparable to what you've grown used to.
Speaker 1 (31:38):
For those who are considering or want to retire early,
I think this is the biggest obstacle. This cost.
Speaker 2 (31:44):
You have to have a plan for healthcare. You have
to be able to cover it. And also understand that
when you get to the age of sixty five and
Medicare kicks in, there will still be responsibilities financial responsibilities
for you, and that so understanding what those numbers look
like in planning for them. You have options, but they
will be a lot more expensive than the portion that
(32:04):
you're paying for your health care, likely now when your
employer is covering many times the lion's share of that.
Speaker 1 (32:10):
All right. Next question is from Jody in Dearborn County.
My granddaughter is five and physically disabled.
Speaker 5 (32:16):
Are there any ways I can help her save for
future expenses like in home care?
Speaker 1 (32:21):
This is a great question. Yeah.
Speaker 2 (32:22):
So there's something called a stable account and I love
this account.
Speaker 1 (32:28):
The family that started it is actually from this area.
Speaker 2 (32:31):
The father's been on the show before and now it's
something that you can access wherever.
Speaker 1 (32:35):
You are in the country.
Speaker 2 (32:36):
But essentially, before the stable account was set up, if
you had more than two thousand dollars saved in that
child's name, it could affect things like their Medicaid benefits,
like Social Security disability benefits.
Speaker 1 (32:49):
So now the federal.
Speaker 2 (32:50):
Law has changed, you can save up to sixteen thousand
dollars a year, and that money can be invested right
for that child and for their future, you know, for
maybe when you're no longer here to help financially or
certainly as necessary, whenever those expenses arise. If that child
when she gets older, right, if she's eighteen or twenty
(33:11):
and is able to work and earn some kind of paycheck,
there's additional funding that can be put into those accounts.
Speaker 1 (33:16):
So yeah, stable account is a great option for this.
Speaker 3 (33:20):
Yeah, I mean historically too, there's been a special needs
trust which is technically not owned by the child but
the trust. So it's a way to not interfere with
any benefits that they might receive. And as they get older,
if they are able to work, then there's there's other
opportunities like you know, roth iras once they have income
roth ira for minor atma zagmas, there's different vehicles. But
(33:43):
to start, I would look I would be looking at
the stable or the Special Needs Trust, because that's what
ensure that public benefits are not interfered with.
Speaker 1 (33:52):
Let's get to Frank and Anderson next.
Speaker 4 (33:56):
I was married for twenty two years in divorce last year.
Speaker 3 (33:59):
My ex keeps saying that I have no right to
Social Security benefits?
Speaker 4 (34:02):
Is she right? No?
Speaker 3 (34:06):
This is a lot of fun for some people because
they're completely wrong. But what they maybe don't realize is
that it has no impact on them whatsoever at all.
Speaker 4 (34:18):
Not in the least bit. They don't even have to know.
Speaker 3 (34:20):
In fact, as long as you were married for ten
years and you have not remarried, if half of their
benefit is bigger than your own benefit, then you can
collect theirs. They do have to be sixty two years
old when that happens, but this does not impact their
benefit whatsoever.
Speaker 4 (34:35):
But yeah, your spouse is wrong in this situation.
Speaker 5 (34:38):
Yeah.
Speaker 2 (34:39):
One of my favorite stories, and this was several several
years ago, out of workshop. You know, people as kind
of come up to us and talk to us afterwards,
and there's this woman who was just patiently waiting, patiently
waiting for all these other people who have questions and
wanted to talk. And finally she comes up to me
and she says, you know, I've got a question for you.
You know, I was married for a long time and divorced.
You know, can I claim.
Speaker 1 (34:59):
On his Social Secure? And I said yes.
Speaker 2 (35:01):
She was like all right, all right. She didn't sound
like she was excited by that answer. And then she
has to follow up question, will he know? And I
said no, he doesn't ever have to know this. She
lit up like a Christmas tree and kurtwheeled out of
that room.
Speaker 1 (35:16):
It was like the biggest win for her.
Speaker 2 (35:19):
So please, yes, if you have been married for at
least ten years, know that this is absolutely an option
for you.
Speaker 1 (35:25):
And that's why, you know so many of.
Speaker 2 (35:27):
These, especially federal programs like Social Security, can be so confusing.
Speaker 1 (35:31):
So yeah, just make sure that you're working.
Speaker 2 (35:33):
With you know, we would say as a certified financial
planner or someone who really understands how you can maximize
even things like your ex spouse's benefits. Coming up next,
we've got Steve Ruby's Gem of Advice. You're listening to
Simply Money, presented by all Worth Financial here in fifty
five KRC, the talk station Black Corn you're listening to
(35:56):
simply Money presented by all Worth Financial.
Speaker 1 (35:58):
I mean me Wagner along with Steve Ruby.
Speaker 2 (36:00):
If we're talking about rhymestones, then maybe we've got a
gem of advice for you coming from mister Ruby.
Speaker 3 (36:08):
So many puns, so much music. I mean, you guys
are really nailing.
Speaker 4 (36:11):
It over here with this.
Speaker 1 (36:12):
We have a lot of fun with us.
Speaker 3 (36:13):
Yes, yeah, I have a lot to live up to.
So Ruby's Jim. I guess we're calling it. I'm being
forced to call.
Speaker 1 (36:18):
It that because we love it so much.
Speaker 4 (36:21):
Yeah, it's just so great.
Speaker 3 (36:23):
So you know, we talked today about what to do
when when somebody passes, and kind of what not to do.
What we talk about oftentimes here is what to do
before And I think, you know, just today, because we've
had that conversation, it's important to realize that an estate
plan does make sense for just about everyone. You know,
(36:45):
you think I don't need an estate plan because I
don't have millions of dollars. I don't need to trust
because I don't have millions of dollars. Maybe you don't
need to trust oftentimes it's it's you know, I would
argue for people that have minor children that have previous
children from previous marriage, maybe there's somebody in the family
that's disabled, has special needs, or you just don't trust
somebody in the family to make good decisions with your money.
(37:06):
Trusts are more expensive than just a will package, but
having that will, or at minimum making sure that you
have beneficiaries across all of your accounts is very important
because at the end of the day, avoiding probate is
one of the goals. And you know, even me as
a financial planner that's been in the industry for a
long time, I had a family member and I bugged
her for a long time, do this.
Speaker 4 (37:28):
Doing a state plan. I don't want to deal with
this when you're gone. Yea, she didn't. She died and
it fell in my lap. And it really stinks to
have to navigate probate.
Speaker 3 (37:36):
But you know, when it could have been a simple
form that just had a transfer on death designation on
the deed for the house, for example, would have avoided probate.
But instead I had to navigate all that and it's
a public process where I'm getting thirty phone calls a
day from people saying I want to buy that house.
So you're creating extra stress you're adding stress into the
situation of passing if you didn't plan ahead of time,
(37:59):
just by sitting down with an attorney. It could be
a few hundred bucks maybe to put together a basic
will package that also has things that could help in life,
like a durable power of attorney, a medical power attorney,
healthcare directive.
Speaker 4 (38:10):
All that stuff is part of a state planning, Yeah.
Speaker 2 (38:13):
Which is something we do for a lot of our clients,
and we're able to do no extra charge. But because
we know it is a part of the financial plan,
it's incredibly important. I think the part of the point
that you're making is when you do this, it is
an act of love right for the people that you're
leaving behind.
Speaker 1 (38:31):
So not only do you need to take the steps
to make sure that the state planning is taken.
Speaker 2 (38:35):
Care of, but you also have to communicate with the
loved ones.
Speaker 1 (38:39):
Right, Hey, I did this process.
Speaker 2 (38:42):
Here's where the documents are, Here's what you can find,
here's what you can expect, so there's no surprises after
I'm gone. So first of all is set up the
estate and also have the conversation. Thanks for listening. You've
been listening to Simply money presented by all Worth Financial
here on fifty five krs.
Speaker 1 (38:56):
The talk station
Tonight.
Speaker 2 (00:06):
If your goal is to someday achieve financial independence, here's a.
Speaker 1 (00:10):
Little tip for you.
Speaker 2 (00:11):
It's really not all about the money you're listening to
simply money present of my all Worth Financial I Memi
Wagner along with Steve Ruby.
Speaker 1 (00:18):
Steve this is a financial show.
Speaker 2 (00:20):
And we talk a lot about money and financial ways
to successfully get yourself to retirement, which we consider financial independence.
But there is a lot more to this picture.
Speaker 1 (00:32):
Than just the money aspect of it.
Speaker 2 (00:34):
And for those I think who are really successful, they
get these things right, let's talk about what those look like. Well.
Speaker 3 (00:41):
I mean, the key is open communication. That's the foundation
of any real partnership. When you have a married couple
planning for retirement together, you need to be on the
same page. You have to have discussions about your goals,
what worries you, what keeps you up at night, what
are your expectations, how do you envision spending your time.
I'm with each other in retirement, because that's that's twenty
(01:02):
or thirty years without working for many people, it's a
long time to make sure that we're on the same page.
And it's scary because I've seen in meetings where people
come in and they've never worked with an advisor before,
and then we're having kind of a fact finding conversation.
Speaker 4 (01:17):
You know, I sit down, I ask questions.
Speaker 3 (01:19):
I learn about somebody's financial situation, their needs, their goals,
because that really shines light on ways it is that
a fiduciary financial planner can help. And it's surprising how
often there are just riffs in what the expectations are
for retirement between two.
Speaker 1 (01:37):
Belie because they never talked about it, right. I mean,
it's surprising that, you know, for so many.
Speaker 2 (01:41):
People who plan on Sunday retiring, that you can live
with someone day in and day out and really not know.
Speaker 1 (01:47):
What that's going to look like.
Speaker 2 (01:48):
I think it's helpful to think of your home like
a business, right you would be communicating with your business
partner about, you know, what are our goals for this business,
what are our goals for the next year, for the
next decade, what does this look like?
Speaker 1 (02:05):
You know?
Speaker 2 (02:05):
And I love Al Ritick, who's a regular on the
show from Game Time Budgeting.
Speaker 1 (02:08):
He has such great advice. He and his wife have like.
Speaker 2 (02:11):
A monthly, in quarterly and annual meetings in every single
dollar of their income is already earmarked for something, they
are very.
Speaker 1 (02:21):
Intentional about it.
Speaker 2 (02:22):
I follow someone on Facebook, a Facebook friend, who was
recently talking about the fact that she and her husband
do a quarterly off site meeting, which I'm assuming means
out of the house and away from the kids, where
they talk about things like future goals and how they're
going to fund them. And speaking of goals, there's a
lot of times couples like you're kind of talking about
(02:45):
are just on really different pages. Right, there's a saver,
there's a spender. They don't see eye to eye when
it comes to money. And if that's you and that
sounds really familiar to you, I would say one really
good thing.
Speaker 1 (02:57):
To start with is what are our goals?
Speaker 2 (03:00):
If you can agree that, you know, some day we
want to retire and be able to spend January somewhere warmer,
or we want to be able to help our kids
pay for their wedding or there you know, help fund
five twenty ninees for college.
Speaker 1 (03:15):
If you can get in.
Speaker 2 (03:16):
Line behind goals and agree on those, then it helps you.
It helps affect those financial decisions that come from it. Right,
if one of you is making a decision, I'm going
to spend five thousand dollars on this thing that doesn't
help you get to that goal, then it's okay to
remind that person.
Speaker 1 (03:32):
Yeah, it's a great place to start.
Speaker 4 (03:34):
Yeah, it certainly is.
Speaker 3 (03:35):
So having kind of a shared vision for your goals
is obviously key here because the next step is understanding
the numbers, how do we make this happen as a
team and the goals By the way, I mean, I've
had people come in and it's like, yeah, we're going
to move out into the country, and the other ones
like I thought we were going to move into the city. Yeah,
I'm talking about like big riffs between the vision for retirement,
(03:59):
so community starting with communications, sitting down mapping out the goals.
You gave a really good list of very common goals
that retirees are working towards.
Speaker 4 (04:07):
But how are we going to pay for them? Assets?
Speaker 3 (04:10):
What kind of liabilities might we have in retirement? For
some people, it's very important to go into retirement with none.
Others are okay, it's fine, we can have a mortgage.
I'm totally okay with that. That won't keep me up
at night, but it might keep the other person in
the relationship up at night, and that's that is not
a foundation for financial happiness and security. You've got to
be on the same page with your goals and then
understanding the numbers behind how you pay for it, because
(04:33):
at the end of the day, we all want to
make sure. A shared goal between most folks is making
sure their money lasts longer than they do. I would say,
but how do we make that happen? As having an
understanding of the assets and the liabilities that you're comfortable
having and how that's going to be earmarked for different goals.
Speaker 2 (04:49):
You're listening to Simply Money presented by all Worth Financial
I Memi Wagner along with Steve Ruby. If your goal
is someday financial independence, right, being able to retire and
not spend every night up a night worried about outliving
your money right?
Speaker 1 (05:02):
If that's if your goal is to get there and to.
Speaker 2 (05:05):
Really enjoy it, what are the things beyond the financial
aspect of it that you've got to get right?
Speaker 1 (05:11):
I think it's a shared vision with your spouse.
Speaker 2 (05:15):
I think a lot of it is communication, getting on
the same page and listen.
Speaker 1 (05:19):
This starts. I think when you're dating, it starts. You know,
once a.
Speaker 2 (05:23):
Relationship turns serious, you should start having financial conversations. Now, listen,
I'm not saying this is a first date kind of
a thing. Tell me about your credit score and what
are your goals. But when a relationship, it's a type.
That's why I would be terrible in this dating world.
Now I would, I would not do well. But once
(05:43):
a relationship gets serious, I think setting the foundation for
normal conversations around money can really.
Speaker 1 (05:52):
Get a relationship going in the right direction, you know, and.
Speaker 2 (05:54):
Just even for the success of that relationship when you
look at the divorce rates and how many of those
divorces come from tension over money.
Speaker 1 (06:02):
If you get started out on.
Speaker 2 (06:03):
The right foot together, having open conversations about money, sharing
common goals, figuring out how to get on the same page,
maybe not on everything, but on the big things, you're
going to be so much better off.
Speaker 1 (06:15):
And then I also think.
Speaker 2 (06:16):
What I see very very often is one person takes
the lead on finances, long term investments, understanding what we
have in our form owing caves and our iras or
their brokerage accounts. Outside of that, do we have a
health savings account, what are our plans, what are our stocks,
how are we invested?
Speaker 1 (06:35):
All of those things?
Speaker 2 (06:36):
It's usually one person is in charge of those things.
The problem is what I often also see is the
other person kind of sticks their head in the stand
around that stuff, saying like, I don't understand it, it's
not my thing. And I think that is to the
detriment of the relationship and to both of you.
Speaker 3 (06:56):
Yeah, you don't have You don't have to wait until
transitioning into retirement to sit down with a fiduciary financial
planner that can help you navigate this as a team,
help you facilitate these conversations, help bring you together to
make sure that you're identifying shared goals and the process
(07:17):
for how to achieve them. You know, a lot of
people think they need to wait until they're retired to
sit down with somebody, But it's totally fine ten fifteen
years out from retirement. I encourage it, in fact, because
if there are gaps between where you are and where
you need to be, the more time that's on your
side to close them, the more opportunity you have to
actually be successful.
Speaker 2 (07:37):
I would say there's also four other kind of critical
elements to just a successful transition into retirement.
Speaker 1 (07:43):
And this is based on a lot of research that
we have done. It all worth.
Speaker 2 (07:46):
And when you think we have helped thousands, tens of
thousands of people retire and retire well over the years,
we found it really comes down to four major things, right,
beyond just that communication, beyond those shared goals, and one
of them is prosperity, and that's just feeling content about.
Speaker 1 (08:05):
Your financial situation. Right. There's not anxiety on the.
Speaker 2 (08:08):
Table, you're not worried. You feel good about what you've
done to this point. You feel good about the capable
financial hands that you're in, you feel good about the
financial decision making, and I think.
Speaker 1 (08:20):
That is just a great peace of mind.
Speaker 3 (08:22):
That's kind of what you're paying for when you work
with a fiduciary advisor. You're paying for peace of mind
and helping you live a prosperous life based on the
resources that you have, helping you live within your means
but still thriving in retirement. So you know, that's a
great point. Another thing that you need to remember is
is having the right people around you, just the importance
(08:43):
of connections, staying social and not being lonely. Loneliness can
have a major impact on your health. And when we
talk about health along with financial planning, it's a good reason.
It's because healthcare can be very, very expensive. So making
sure that you have connections and your fostering them. You
have that you know, that social life post work it
(09:03):
is very important.
Speaker 2 (09:05):
We've done so much research on this and it really
comes down to not only relationships and connections, but like
purpose and meaning. And you know, we've helped connect you know,
clients to other clients who are passionate about certain organizations
and things like that. But you know, there are ways
to find that online, you know, searching around you know,
(09:27):
this is important to me, or you know, I have
clients who used to be teachers and they just miss
kind of being around children and inspiring them, and so
they've gotten on some websites where they're able to help
with tutoring kids and things like that. Don't wait until
you get to the first day of retirement and you're
looking at yourself from the mirror and you're like, what
am I going to do with myself today?
Speaker 1 (09:47):
I have no idea what this is going to look like.
Speaker 2 (09:50):
I'm a huge proponent of taking a practice retirement, So
maybe a.
Speaker 1 (09:54):
Couple of years before you get to that point. You
use all of your vacation at.
Speaker 2 (09:58):
One time whether it's two weeks or a month, you
don't go anywhere, you don't make any major plans, and
you just figure out what it feels like, what do
your days look like, and if you're feeling like by
day four, like I'm so bored, I don't know what
to do.
Speaker 4 (10:12):
It's terrible.
Speaker 3 (10:13):
I'm just sitting around, I'm sleeping all day and I'm
staying up all night watching TV.
Speaker 1 (10:17):
Yeah, ding ding ding. You better do something about that.
Speaker 3 (10:21):
Yeah, that's a great and point of having intention with
your days, making sure that you're staying active. Volunteering, maybe
maybe part time work is an opportunity to get out
there and stay active. There's certain a lot of folks that,
you know, they retire from their high stress, demanding jobs
and then they take on an opportunity that might you know,
give them a little bit of benefits but a little
bit of pay. But at the end of the day,
it's something to keep active and busy because again, it
(10:44):
ties back to health and wellness, you know, staying active,
you know, going for walks, it helps and enhance endurance.
It's a boost to your health. I mean again, it
might seem silly on a money show to talk about
this stuff, but it is really important to stay active
in retirement.
Speaker 4 (11:00):
Just want to sit around and do nothing.
Speaker 3 (11:02):
I mean, technically, if that's your thing, go for it,
if that's what really makes you happy at.
Speaker 4 (11:05):
The end of the day.
Speaker 3 (11:06):
But there's a lot of research out there that shows
that this is going to equate to a better retirement.
Speaker 2 (11:14):
I'm really close to my aunt Mary Joe, and she
retired a few years ago, and I think I can
hold her out as like the best example I've probably
ever seen for how to retire. Well, the first few
days she was like, oh, this feels a little weird,
but then she got into a group.
Speaker 1 (11:28):
She walks her dog twice a day. Like far, she
has more energy than anyone I know. She's actually lost
weight in retirement.
Speaker 2 (11:35):
She's really just smart, intentional about eating well.
Speaker 1 (11:39):
She still goes to Happy Hour in dinner with some
friends from work.
Speaker 2 (11:44):
She's got grandkids that she spends time with, she spends
time with our family.
Speaker 1 (11:48):
She's always busy and she's found meaningful ways to fill
her days.
Speaker 2 (11:53):
And I'm just like, I look at it, I'm like,
that is what I want, and it doesn't happen by
not making plans and not having a vision for what
retirement is going to look like. Here's the all Worth
advice the best ingredients for a successful retirement. Yes, they
involve money, but also purpose, relationships and good health.
Speaker 1 (12:13):
So spend some time cultivating each of those things before
you get to that age of retirement.
Speaker 2 (12:18):
Coming up next, we're talking about navigating financial and legal
matters during one of the most difficult times in life.
You're listening to Simply Money, presented by all Worth Financial.
Here in fifty five KRC the talk station. You're listening
to Simply Money presented by all Worth Financial and Memi
(12:38):
Wagner along.
Speaker 1 (12:39):
With Steve Ruby.
Speaker 2 (12:40):
If you can't listen to Simply Money every night, we
have a daily podcast for you. Just search Simply Money
on the I Heard app or wherever you get your
podcasts and.
Speaker 1 (12:48):
STRAIGHTA Had at six forty three.
Speaker 2 (12:50):
We are taking your questions about things like medicare, estate planning,
and much more. We're just talking a few minutes ago
about the importance of if you are married, if you
have a partner, being on the same financial page. One
of the huge reasons why we're big proponents of that
is if something were to happen to.
Speaker 1 (13:08):
One of you, would you know what to do next?
Speaker 2 (13:12):
Would you know who to call? Do you have a
relationship with that person? How comfortable would you be? And
see if I don't think I can I can overstate this.
Speaker 1 (13:21):
But it is such an emotional time.
Speaker 2 (13:24):
It is overwhelming, and if you're having to call strangers
at that point h and ask for help, I just
think it's almost too much.
Speaker 3 (13:33):
Yeah, I mean, that's that's why we encourage making sure
that you're meeting as a couple when it comes to
annual reviews. For example, when when you have an advisor
that you're working with, because some of the first people
that you're you're going to contact, or your financial and
legal team if something happens, spouse passes away, where do
you start? You know, if if you've worked with professionals
in the past, attorney, accountant, financial advisor, you know this
(13:58):
this is a time you need to reach out to
them asap. They're going to be crucial in helping navigate
any kind of financial aftermath and provide guidance on next steps.
Speaker 2 (14:07):
Yeah, know who your people are, right, be familiar with them,
and I think they can also help you if you're
overwhelmed during this time with saying okay, here's the next
thing that you should do. But most of the time
it is okay, where are the estate planning documents? And
I would also go even just beyond the estate planning documents.
You know, passwords for logins, two accounts, right, These are
(14:30):
the things that need to be gathered beforehand or else
it can be a mess to try to unwind these
things afterwards if you don't even know how to log
into bank accounts or even social media accounts and things
like that.
Speaker 1 (14:41):
And also death.
Speaker 2 (14:42):
Certificates, requesting in I say maybe fifteen twenty of these,
it's amazing. Even years later, yeah, even years later, you
may be asked for a death certificate for something. So
having enough of these on file just to send them
or share them when you need to can be incredibly help.
Speaker 4 (15:00):
Yeah.
Speaker 3 (15:01):
I mean, if there are state planning documents such as
a trust or a will that are intact, then having
copies of those legal documents are obviously going to be
very important. It outlines your spouse's wishes on what needs
to happen next. If it's a trust, then it's going
to help make sure that assets and property avoids probate.
And remember that you know this is overwhelming and you
(15:24):
don't have to go at it alone that you know,
there's financial professionals that you should be reaching out to.
But even then, you know, maybe a trusted friend or
family can help you kind of organize and navigate who
to reach out to and when to reach out to it.
You know, it kind of takes a village in the situation.
This isn't something that we're saying, you know, dood alone.
(15:44):
If you have, if you have people in your corner
friend's family that can help you navigate this, then I
certainly strongly would encourage it because this is it's difficult,
and it's emotional, and there's a lot of challenges.
Speaker 2 (15:55):
Yeah, we're not saying do it alone, and we're not
saying you need to do this in twenty four hours
or within one week, but you know, sometime and you know,
the first few weeks months.
Speaker 1 (16:05):
Something like that.
Speaker 2 (16:06):
There's certain organizations that need to know, right, one of
them being Social Security, any insurance providers, is there life insurance,
health insurance, you know those kinds of things, right, Those
companies need to know.
Speaker 1 (16:18):
At some point, credit.
Speaker 2 (16:19):
Bureaus right need to be looped in on this, and
then if that person is still working, you know obviously
employer's employers retirement plans and things along those lines.
Speaker 3 (16:30):
If you'd never if you don't have an inventory of
some of these accounts, then then it risks you risk
the money kind of falling into a void essentially, which.
Speaker 1 (16:41):
Really happens more often than you'd think.
Speaker 3 (16:43):
Yeah, a former employer isn't going to know that somebody
passed away unless they are told. And if that happens
and they're not told, then that money can can essentially
be lost from you. And I mean there's a process
once it's uncovered to get back, but it's it's a
lot of paperwork, so let's avoid it.
Speaker 2 (17:03):
And then once you have that death certificate, right, a
next step then would be to make sure that all
the assets that were in that spouse's name are now
transferred to yours. You know, think about things like bank accounts,
investment accounts, property.
Speaker 1 (17:15):
Titles, all of the vehicles.
Speaker 2 (17:17):
Right, And again doesn't have to be day two, does it,
or doesn't have to be week one, but at some
point these things do need to be taken care of.
Speaker 1 (17:25):
It just makes it easier when these things have.
Speaker 2 (17:29):
All been handled and you know assets have been transferred,
and then you know you're able to move forward.
Speaker 3 (17:36):
Yeah, when you're dealing with your investments too, it's worth
noting that maybe don't make any big decisions. I'm talking
about how they're being invested, how they're being handled. You know,
just because something like this has happened doesn't mean that
you need to sell everything to cash while you may
while you wait for the you know, opportunity to get reinvested.
(17:58):
These are emotional times, and we don't want to make
big decisions with how our money is being invested during
emotional times.
Speaker 2 (18:05):
On the flip side, I have a couple of widows
that I that I work with who recently like came
on board and it with very similar stories and that
their husband passed away. They had largely handled all the
finances and so for the first five years seven years
after that person had passed.
Speaker 1 (18:24):
Away, they really kind of admit, like, I just put
my head in the sand. I was overwhelmed by this.
Speaker 2 (18:31):
I didn't do anything, and you know, and now that
fall is starting to lift, and I think, gosh, if
they were in a relationship with that financial advisor.
Speaker 1 (18:38):
Before, it wouldn't be so overwhelming, right.
Speaker 2 (18:41):
They missed out on some opportunities of things that they
could have done, you know, a few strategies along the
way that could have made a difference, and that legacy
that both of them had planned for together.
Speaker 1 (18:51):
And so I say, you know, don't make decisions too quickly,
but also don't stick your.
Speaker 2 (18:55):
Head in the sand and let five ten years go
by and just be aid to be part of this
decision making process.
Speaker 3 (19:02):
Well, that's why it's so important to contact your team,
you know, whether it's attorney, accountant, financial planner, because you know,
an example is this might be your last time married
filing your taxes jointly, and it's a potential opportunity to
realize gains or maybe do some larger wroth conversions. So
(19:23):
when I say do nothing, it's more along the lines
of don't react emotionally. Yeah, however, work with your team
because there may be some missed opportunities if we don't
act on some of these things sooner rather than later.
Speaker 2 (19:36):
Here's the all Worth advice. Listen, the death of a
spouse can be an incredibly overwhelming time. Please stay close
to those who you trust and lean on them to
help you.
Speaker 1 (19:45):
To Stay's point, make sure you've.
Speaker 2 (19:46):
Got that team that you need in place. Coming up next,
some of the best ways.
Speaker 1 (19:51):
To improve your home's value.
Speaker 2 (19:53):
You're listening to Simply Money, presentably all Worth Financial here
in fifty five KRC the talk station. You're listening to
Simply Money, presented by all Worth Financial. I'm Amy Wagner
along with Steve Ruby. Lots of statistics show us that
many of us are choosing to stay in our homes
for longer than we ever have before, and so for
(20:15):
many it becomes a question of should I spend money
on some upgrades, and if I'm going to do that,
which ones might get the biggest bang for the buck, right,
the best return on investment. Joining us tonight with of
course our fantastic perspective on all things real estate, the
best money to put into your home, the best ways
to think about moving and selling is Michelle Sloane, a
(20:36):
real estate expert from Sloan Sells Homes of course, the
open house Sundays at four o'clock right here on fifty
five KRS and owner of Remax Time.
Speaker 1 (20:44):
Michelle, what do we say to people?
Speaker 2 (20:46):
I mean, first of all, this is a trend you're
seeing right, people are staying in our homes for longer.
Speaker 5 (20:50):
Absolutely, you know when I got into the business. Twenty
years ago, people were moving every five to seven years.
Now we're seeing people staying in their home for eight
to ten to twelve to twenty years. And so if
you're going to stay in your home that long, you
really shook should look at more than just maintenance. You
need to look at upgrades that may cost you a
(21:12):
little bit, but you want to do those upgrades in
a way that you're going to get your return on
the investment when it does come time to sell.
Speaker 1 (21:19):
So let's jump into where to start here.
Speaker 2 (21:23):
I know that if I'm looking at a home online
or whatever, if there's like what looks like old nasty
carpet or I'm like, no, absolutely not.
Speaker 1 (21:32):
It like even in the pictures, it feels dusty yucky
to me. So is flooring a good upgrade to.
Speaker 5 (21:39):
Make Flooring is the number one upgrade that you're going
to get the return on investment. Now, you may have
to spend a little bit more, and replacing carpet with
carpet is not necessarily the way to go to get
the biggest return on investment. So it may be the
most economical thing to do. But if you're planning to
(22:02):
live in your home for a while and you want
to enjoy it, why not do something a hardwood or
even refinishing a hardwood. If you have hardwood in your
kitchen and your entry and maybe the first floor bathroom
most likely if your house was built in the last
twenty years or so, that's kind of what you have.
(22:23):
And it's interesting because I had a new listing. It
wasn't a new home, and the home was thirty years old.
The hardwood in the kitchen was so beat up, but
it was hardwood, so you didn't have to replace it.
You just had to refinish it. And honestly, for the
three thousand dollars that it cost that buyer or that seller,
(22:46):
the homeowner is going to get probably about five thousand
dollars back, if not more, because the look of that
looked brand new once again. And the statistics are showing
and this blows my mind. Just hardwood. Okay, let's look
at hardwood floors. We have so many other products too,
we have luxury vinyl tile and all that, but I'm
just talking about hardwood. If you refinish hardwood floors, you
(23:09):
can get up to one hundred and forty percent back
on that investment.
Speaker 1 (23:15):
Wow.
Speaker 5 (23:16):
Crazy, right, and installing new hardwood flooring can add one
hundred and eighteen percent return on your investment. So you're
going to get your money back on the flooring, especially
if you do something that is lasting and that way,
if you're going to plan to use it. And because
my homeowner we refinished the hardwoods in her kitchen and
(23:36):
she's like, oh, maybe I don't even want to move
now because they look so good, and it's like, well,
at least the new person is going to walk in
and say, oh, that's one less thing that I have
to deal with because the hardwood in the kitchen looks better.
So definitely, your flooring improvements are going to give you
a big bang for your buck.
Speaker 1 (23:55):
Let me ask you this, Michelle.
Speaker 2 (23:56):
I know that a lot of things in real estate
a trendy.
Speaker 1 (24:01):
Is hardwood here to stay for a long time?
Speaker 2 (24:04):
Or is it something that five years from now people
who are going to say, oh, but I actually want xyz.
Speaker 5 (24:10):
You know, hardwood has been around since I mean there
are one hundred year old homes that still have hardwood floors,
and they are coveted over the years, especially the homes
in Cincinnati that have been around forever and ever. You know,
underneath the carpet. There is hardwood, and there's beautiful hardwood.
All it needs to be is refinished. So whether you
(24:32):
have like a one inch chardwood or something wider, hardwood
really does stand the test of time. Now there is
luxury vinyl tile that will last a long time and
it will look like wood. But if in the future
it gets scratched, scraped, you know, holes in it, whatever,
you can't refinish that. There's there's no underlying layer, so
(24:57):
the only option will be and again they they're pretty
hard but you have to replace it. And with hardwood
you can probably get two or three refinishes until it's
time to actually replace it. And like I said, if
you get real hardwood, real wood, full wood, it's going
to cost more, but it will last a really long time.
(25:18):
So I never think that that's going to go out
of style. The color, the stain, you know, the finishes
of that hardwood may change over the years. But the
good news is when you do refinish it, it's a
fresh start. You can go darker, you could go lighter,
you can go shiny, you can go matte finish, and
it's the same flooring and it can have a brand
(25:38):
new look.
Speaker 2 (25:40):
What other upgrades are things can we do to our
home to really increase the value of it.
Speaker 5 (25:45):
Okay, so I'm going to say make it bigger, and
what I mean by that is adding a room, if possible,
adding a bathroom. Maybe your lower level isn't finished. So
if you're making it bigger and giving yourself more living space,
you are creating more living space. You're giving yourself a
(26:07):
bigger footprint within your home. Now, some people will add
a sunroom. Huge return on investment on a sunroom. What
about your garage maybe you want to do and again,
if you're talking about some really serious construction, it's going
to cost money. You know, you want to make sure
that you are hiring the right people to do that correctly.
(26:29):
But adding a sunroom, adding a deck outdoor spaces a
kitchen expansion. I see a lot of people that are
still taking walls down between a kitchen and a dining
room to make that kitchen dining room all one big space.
Speaker 4 (26:46):
Love that.
Speaker 5 (26:47):
Yeah, adding a shed or a barn if you're allowed
in your homeowners association allowing that to happen. I've seen
so many people turn what was an office into a
bedroom on the first floor, so that if someone is unable,
if you have a standard two story and you can't
get somebody to get up the steps and you want
(27:07):
to stay in your home longer, you create a bedroom
on that first floor where the study was and turning
a half bath into a full bath on the first floor,
which again is something as we are aging, our population
is aging. If you have the opportunity to have two
somewhat primary suites within your home, you are creating tremendous
(27:30):
value in your home.
Speaker 2 (27:32):
So when I'm looking at a house, Michelle, I zero
in on two rooms, the kitchen and the bathrooms, and
I like those to be updated because I know if
they're not how expensive, right, those upgrades are? Anything else
I can work with, right, terrible carpet, terrible paint colors,
anything else.
Speaker 1 (27:49):
It's cosmetic, right yeah?
Speaker 2 (27:51):
Yeah, And so I'm wondering do other people feel that way?
Is it smart to make investments in the kitchen in
your bathrooms?
Speaker 5 (27:57):
Always? Absolutely? You know, if you have a laminate countertop
and you haven't gone to a solid surface like a
granite or something like that, or a quartz, having that
upgrade in your home is a tremendous value. And again,
the price of a lot of these things. While it's
still expensive, I'm not going to discount the fact that
(28:19):
if you're going to be doing an upgrade in your
kitchen or your bathroom, or you're going to be moving
things around, if you're moving any plumbing, that's going to
be expensive, especially in a bathroom. So you want to expand.
Maybe you have one of those giant tubs in the
bathroom that you've never used. It's a built in tub
from twenty thirty years ago. Nobody ever uses it except
(28:43):
for maybe two I don't know.
Speaker 2 (28:45):
Never, but it's.
Speaker 5 (28:48):
A dust magnet y. So you tear that out and
you create a bigger shower, maybe more closet space. You
can do a lot with that space. But of course
you're moving some things around, probably gonna a have to
hire somebody me. You're gonna have to, you know, look
at your costs and see what it can look like.
(29:09):
And it really does. I mean, a primary bathroom that
is updated with the larger shower and getting rid of
the soaking tub that ninety percent of people don't want
or need or use is a good thing. Remodeling the
kitchen same thing. If the cabinets are old metal cabinets
and you replace them with some nice newer wood cabinets
(29:31):
that are you know, look great. That's awesome. Adding a
backsplash in the kitchen. There's the flooring, and we talked
about flooring being such a big deal. Flooring in the
bathrooms and the kitchens. If you have and this is
my pet peeve of the whole wide world, you ready
and ready have if you have carpet in the bathroom.
Speaker 2 (29:51):
Oh yes, please terrible, please please take it out. A
great perspective from Michelle Slone, our real estate expert, on
how you can stay in your home longer, enjoy more,
and also increase the value of your home. You're listening
to Simply Money presented by all Worth Financial here in
fifty five KR see the talk station. You're listening to
(30:12):
Simply Money presented by all Worth Financial. I Meanan Wagner
along with Steve Reeb. You have a financial question you
need a little help with, Well, there is a red
button you can click them while you're listening to the show.
It's right there on the iHeart app. Record your question
and it's coming straight to us. Speaking of those questions,
we've got several of them from you guys tonight, starting
with Gary in Batavia.
Speaker 3 (30:31):
If I retire before Medicare kicks in, what are my
health insurance options? So I mean, it really boils down
most of the time to Cobra and going to the exchange.
So Cobra is helpful because it keeps things the same
kind of when I say the same.
Speaker 2 (30:47):
Keeps your benefits the same, not how much you're paying
for them exactly.
Speaker 3 (30:51):
It keeps your benefits the same, But I'm talking that
the costs can go, you know, multiplicative of five. You know,
you learn how much your employer was really paying for
your health care benefits when you switch to Cobra and
you're like, oh my god, why is it saying I
owe two thousand dollars a month? In very extreme situations.
So you know, there's certainly for shorter periods of time,
(31:11):
if you're you know, you're sixty four years old, and
you know you're no longer with your employer, and you
know you're coming up to Medicare here quickly, sometimes people
do opten to pay more to keep things uniform. But
if you have a longer period of time, even beyond
what Cobra will cover, for example, then that's where you
go to the healthcare exchange and there's insurance brokers out
(31:31):
there that can help you navigate that to find something
comparable to what you've grown used to.
Speaker 1 (31:38):
For those who are considering or want to retire early,
I think this is the biggest obstacle. This cost.
Speaker 2 (31:44):
You have to have a plan for healthcare. You have
to be able to cover it. And also understand that
when you get to the age of sixty five and
Medicare kicks in, there will still be responsibilities financial responsibilities
for you, and that so understanding what those numbers look
like in planning for them. You have options, but they
will be a lot more expensive than the portion that
(32:04):
you're paying for your health care, likely now when your
employer is covering many times the lion's share of that.
Speaker 1 (32:10):
All right. Next question is from Jody in Dearborn County.
My granddaughter is five and physically disabled.
Speaker 5 (32:16):
Are there any ways I can help her save for
future expenses like in home care?
Speaker 1 (32:21):
This is a great question. Yeah.
Speaker 2 (32:22):
So there's something called a stable account and I love
this account.
Speaker 1 (32:28):
The family that started it is actually from this area.
Speaker 2 (32:31):
The father's been on the show before and now it's
something that you can access wherever.
Speaker 1 (32:35):
You are in the country.
Speaker 2 (32:36):
But essentially, before the stable account was set up, if
you had more than two thousand dollars saved in that
child's name, it could affect things like their Medicaid benefits,
like Social Security disability benefits.
Speaker 1 (32:49):
So now the federal.
Speaker 2 (32:50):
Law has changed, you can save up to sixteen thousand
dollars a year, and that money can be invested right
for that child and for their future, you know, for
maybe when you're no longer here to help financially or
certainly as necessary, whenever those expenses arise. If that child
when she gets older, right, if she's eighteen or twenty
(33:11):
and is able to work and earn some kind of paycheck,
there's additional funding that can be put into those accounts.
Speaker 1 (33:16):
So yeah, stable account is a great option for this.
Speaker 3 (33:20):
Yeah, I mean historically too, there's been a special needs
trust which is technically not owned by the child but
the trust. So it's a way to not interfere with
any benefits that they might receive. And as they get older,
if they are able to work, then there's there's other
opportunities like you know, roth iras once they have income
roth ira for minor atma zagmas, there's different vehicles. But
(33:43):
to start, I would look I would be looking at
the stable or the Special Needs Trust, because that's what
ensure that public benefits are not interfered with.
Speaker 1 (33:52):
Let's get to Frank and Anderson next.
Speaker 4 (33:56):
I was married for twenty two years in divorce last year.
Speaker 3 (33:59):
My ex keeps saying that I have no right to
Social Security benefits?
Speaker 4 (34:02):
Is she right? No?
Speaker 3 (34:06):
This is a lot of fun for some people because
they're completely wrong. But what they maybe don't realize is
that it has no impact on them whatsoever at all.
Speaker 4 (34:18):
Not in the least bit. They don't even have to know.
Speaker 3 (34:20):
In fact, as long as you were married for ten
years and you have not remarried, if half of their
benefit is bigger than your own benefit, then you can
collect theirs. They do have to be sixty two years
old when that happens, but this does not impact their
benefit whatsoever.
Speaker 4 (34:35):
But yeah, your spouse is wrong in this situation.
Speaker 5 (34:38):
Yeah.
Speaker 2 (34:39):
One of my favorite stories, and this was several several
years ago, out of workshop. You know, people as kind
of come up to us and talk to us afterwards,
and there's this woman who was just patiently waiting, patiently
waiting for all these other people who have questions and
wanted to talk. And finally she comes up to me
and she says, you know, I've got a question for you.
You know, I was married for a long time and divorced.
You know, can I claim.
Speaker 1 (34:59):
On his Social Secure? And I said yes.
Speaker 2 (35:01):
She was like all right, all right. She didn't sound
like she was excited by that answer. And then she
has to follow up question, will he know? And I
said no, he doesn't ever have to know this. She
lit up like a Christmas tree and kurtwheeled out of
that room.
Speaker 1 (35:16):
It was like the biggest win for her.
Speaker 2 (35:19):
So please, yes, if you have been married for at
least ten years, know that this is absolutely an option
for you.
Speaker 1 (35:25):
And that's why, you know so many of.
Speaker 2 (35:27):
These, especially federal programs like Social Security, can be so confusing.
Speaker 1 (35:31):
So yeah, just make sure that you're working.
Speaker 2 (35:33):
With you know, we would say as a certified financial
planner or someone who really understands how you can maximize
even things like your ex spouse's benefits. Coming up next,
we've got Steve Ruby's Gem of Advice. You're listening to
Simply Money, presented by all Worth Financial here in fifty
five KRC, the talk station Black Corn you're listening to
(35:56):
simply Money presented by all Worth Financial.
Speaker 1 (35:58):
I mean me Wagner along with Steve Ruby.
Speaker 2 (36:00):
If we're talking about rhymestones, then maybe we've got a
gem of advice for you coming from mister Ruby.
Speaker 3 (36:08):
So many puns, so much music. I mean, you guys
are really nailing.
Speaker 4 (36:11):
It over here with this.
Speaker 1 (36:12):
We have a lot of fun with us.
Speaker 3 (36:13):
Yes, yeah, I have a lot to live up to.
So Ruby's Jim. I guess we're calling it. I'm being
forced to call.
Speaker 1 (36:18):
It that because we love it so much.
Speaker 4 (36:21):
Yeah, it's just so great.
Speaker 3 (36:23):
So you know, we talked today about what to do
when when somebody passes, and kind of what not to do.
What we talk about oftentimes here is what to do
before And I think, you know, just today, because we've
had that conversation, it's important to realize that an estate
plan does make sense for just about everyone. You know,
(36:45):
you think I don't need an estate plan because I
don't have millions of dollars. I don't need to trust
because I don't have millions of dollars. Maybe you don't
need to trust oftentimes it's it's you know, I would
argue for people that have minor children that have previous
children from previous marriage, maybe there's somebody in the family
that's disabled, has special needs, or you just don't trust
somebody in the family to make good decisions with your money.
(37:06):
Trusts are more expensive than just a will package, but
having that will, or at minimum making sure that you
have beneficiaries across all of your accounts is very important
because at the end of the day, avoiding probate is
one of the goals. And you know, even me as
a financial planner that's been in the industry for a
long time, I had a family member and I bugged
her for a long time, do this.
Speaker 4 (37:28):
Doing a state plan. I don't want to deal with
this when you're gone. Yea, she didn't. She died and
it fell in my lap. And it really stinks to
have to navigate probate.
Speaker 3 (37:36):
But you know, when it could have been a simple
form that just had a transfer on death designation on
the deed for the house, for example, would have avoided probate.
But instead I had to navigate all that and it's
a public process where I'm getting thirty phone calls a
day from people saying I want to buy that house.
So you're creating extra stress you're adding stress into the
situation of passing if you didn't plan ahead of time,
(37:59):
just by sitting down with an attorney. It could be
a few hundred bucks maybe to put together a basic
will package that also has things that could help in life,
like a durable power of attorney, a medical power attorney,
healthcare directive.
Speaker 4 (38:10):
All that stuff is part of a state planning, Yeah.
Speaker 2 (38:13):
Which is something we do for a lot of our clients,
and we're able to do no extra charge. But because
we know it is a part of the financial plan,
it's incredibly important. I think the part of the point
that you're making is when you do this, it is
an act of love right for the people that you're
leaving behind.
Speaker 1 (38:31):
So not only do you need to take the steps
to make sure that the state planning is taken.
Speaker 2 (38:35):
Care of, but you also have to communicate with the
loved ones.
Speaker 1 (38:39):
Right, Hey, I did this process.
Speaker 2 (38:42):
Here's where the documents are, Here's what you can find,
here's what you can expect, so there's no surprises after
I'm gone. So first of all is set up the
estate and also have the conversation. Thanks for listening. You've
been listening to Simply money presented by all Worth Financial
here on fifty five krs.
Speaker 1 (38:56):
The talk station
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