July 10, 2025 • 27 mins
#SafeMoney #JonHeischmanSr #DestinationRetirement
Host Jon Heischman, Senior talks about having success with clients when their destination is retirement!
Call Jon at (888) 426-0177 with questions, comments or to get a free copy of Top 10 IRA Mistakes and How to Avoid Tax Traps. Visit www.heischmanfs.com/ for additional information.
Host Jon Heischman, Senior talks about having success with clients when their destination is retirement!
Call Jon at (888) 426-0177 with questions, comments or to get a free copy of Top 10 IRA Mistakes and How to Avoid Tax Traps. Visit www.heischmanfs.com/ for additional information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
People really don't know what their expenses will because they
don't know how long that they're going to live.
Speaker 2 (00:06):
The Americans are worried they won't have enough safe for retirement.
Now more than ever, retirement's going to cost for many
folks over a million dollars. He is no short thing
in investing, but a lot of people think that annuities
may come close to that.
Speaker 3 (00:19):
It's going to more safe, safe, safe, safe things that
they know.
Speaker 1 (00:22):
If they know they're going to need that money to
supplement the retirement, well then you can't play that rest.
Speaker 3 (00:27):
This is the Safe Money and Retirement Show with John Heischman, Senior,
Founder and partner of Heisman Financial Services serving the Columbus
and surrounding areas. John specializes in educating pre retirees and
retirees about safe money strategies and ideas. Now it's the
Safe Money and Retirement Show. Here's John Heischman, Senior.
Speaker 2 (00:48):
Welcome to the Safe Money and Retirement Show. I'm your host,
John Heischmann with Heischmann Financial Services. Thank you for joining
me this morning. As a lot of you do each week.
Most of the individuals that I meet with each week
(01:11):
are approaching retirement or they're already in retirement. As a result,
I hear a lot of questions. I think once people
get to that stage of life, they've accumulated money and
they've got questions or concerns about having success in retirement.
(01:36):
And these themes that I find are somewhat categorized into
a handful of groups. And I think this is where you,
as listeners, have a big advantage of having a show
done for you by someone that not only works with
(01:59):
three tirees, but see a lot of similarities. It's definitely
a complicated situation. It's like you're on a forty year
train ride heading for a destination called retirement. But when
those paychecks keep coming in, your schedule for forty five
(02:25):
hours a week is really well defined. You don't have
a lot of questions at that time. But when you
arrive at your destination retirement, that door opens and it
says destination retirement. You get off that train you've been on.
(02:49):
The landscape's really different, and those paychecks they're not coming in,
and all of a sudden, your healthcare probably went away
as well. And at this point you're starting to live
off your nest egg, and all of a sudden it
(03:09):
becomes kind of a complicated financial puzzle. I mean, I've
had a lot of people, especially when COVID was in
full swing, they said, you know what, I kind of
like this stain at home, working from home and not
(03:30):
leaving to have to go to work, fighting the traffic
and continue until going into retirement. By taking early retirement,
what does that look like? It raised questions there, And
now you've got situation where there are people either getting
(03:53):
laid off or they've decided they're not going to go
ahead and retire sooner than what they were originally expected.
Things have changed that raises some questions. And one of
the biggest questions that I find with people is how
(04:16):
much do they need to retire comfortably? And that's really
a loaded question because it assumes that some random lump
sum of money is going to be the answer. There's
internet pop ups that we see Can I retire comfortably
(04:38):
on five hundred thousand or one million? Yes? And no,
some can, some can't. There are so many variables involved
in a cookie cutter figure, so to speak, cannot determine
if you can retire on that amount. Because I've seen
(05:05):
situations where an individual will look at their portfolio and
you know they have a lumpsum of five hundred thousand
or even one million, and try to take their statement
and pay for groceries at the cash register, and that's
not going to buy you much because it needs to
(05:26):
be turned into usable, guaranteed income that you can retire on.
That's the real question. How much do you need? Again
can be misleading, and when somebody asks that question, one
of the questions I typically throw back in return is
(05:49):
what's the purpose of your money? Is it to buy
something or is it income replacement money? And for the
majority of people at least that I talk to, its
income replacement And for most I think that's a common
(06:12):
sense reply, because you have to replace that paycheck that
was there guaranteed every week or every couple of weeks
however you were paid from your employer, and the whole
purpose of that savings is so you can replace the
(06:35):
income that's no longer coming in. So it's a big
deal when those paychecks happen, and everything changes when they don't.
And one of the things that really concerns me about
the retirement planning industry, it seems like there are a
(07:00):
lot of individuals or firms, like Wall Street firms that
don't understand this that it's about income. Too much emphasis
is placed on growing your money getting a high rate
(07:20):
of return. How many actually talk about guaranteed retirement income
that's going to last as long as you do. So
I'm offering a complementary income review. This is where I
(07:42):
review your statements how much guaranteed lifetime income these accounts
are going to generate compared to your retirement needs. Where
are you at today and projecting how long long your
money is going to last throughout retirement. Let's address this
(08:06):
first and foremost. Then we'll talk about growing your money,
what your options are based on your risk tolerance and
your risk capacity. First things first, and I make this
offer to those of you that are within a couple
of years of retiring or already retired, because, believe me,
(08:33):
there are so many that are retired, they're not on
the right track and they need this income review. Here's
the number that you can reach me, and we can
schedule a brief meeting at my office in the conference
room at your home. It doesn't matter, whatever works best
(08:56):
for you in your time A day to eight four
zero one seven seven. Let me give you that number again,
triple eight four two six zero one seventy seven. I
think this will be very helpful to you and help
(09:17):
cover questions about a successful retirement. How much money do
you need in retirement? How much income do you actually need?
Not how much money do you need in a lump sum,
because I think the lump sum concept can be very deceptive.
(09:42):
What I've seen is that once an individual begins to
really understand how much income they need, then they realize,
you know, what they're going to have to make that
amount of withdrawal from their portfolio. Then the strategy is
(10:03):
what kind of income can I get from my portfolio?
And that begins to change how you invest. You can
actually do some pretty good dynamic math that I help
you with. We will correlate projective lifetime income by reviewing
(10:25):
your projected social security income and pension income if you
have a pension. I have met with retirees that their
income consists of social Security and a pension, but more
is needed for whatever reason, and I've showed them how
(10:50):
to generate that additional amount needed by setting up sources
of guaranteed lifetime income in addition to that social Security
and pension check that they get each month. So find
out more. Take advantage of my offer, because the only
(11:11):
thing that's going to cost you is your time. Call
me at eight eight eight four two six zero one
seventy seven triple eight four two six zero one seventy seven,
and don't forget to visit my website, which is Heischmann
(11:34):
f S dot com h EI s ch m a
N the initial F than the initial s dot com.
I'm going to take a break, so stay tuned for
the second part of the Safe Money and Retirement Show
(11:57):
this morning. I'll be right back.
Speaker 1 (12:01):
Thanks for listening to the Safe Money and Retirement Show
with John Heischman. For more information, call one eight eight
eight or two six zero one seventy seven. That's one
eight eight eight or two six zero one seven seven,
or visit their website at heischmanfs dot com more of
the Safe Money and Retirement Show. In a moment, you.
Speaker 2 (12:28):
Have spent your entire working life hoping what you put
into your retirement accounts will help you live comfortably once
you leave the workforce and go into retirement. The keyword
in that sentiment, and the word that can make retirement
(12:50):
feel like a looming problem instead of a rewarding life stage,
is the word hope. You hope that you'll have enough money.
Hope has no place in retirement planning, so we want
to eliminate the hope and change that to I know
(13:15):
I will have enough money for retirement. The bottom line
is you need to be focused with a well executed plan.
Leaving your retirement up to chance is not an option
by any standard, but with information tools and professional guidance,
(13:39):
creating a successful retirement plan will put you in control
of your financial management. This is John Heischmann from The
Safe Money and Retirement Show. I can help if you'd
like to schedule a telephone conversation or a face to
face meeting call eightay eight four two six zero one
(14:05):
seven seven triple eight four to two six zero one
seventy seven. Avoiding mistakes can save owners of iras four
(14:26):
to oh one, KS and TSP plans, as well as
other retirement plans a fortune and taxes, penalties, fees and loads.
These potential mistakes are addressed in the free book entitled
Top ten IRA Mistakes. This is John Heischmann from The
(14:50):
Safe Money and Retirement Show, offering a complementary copy by
calling eight eight eight four two six zero one seven
seven again that's triple eight four two six zero one
seven seven.
Speaker 1 (15:18):
Welcome back to the Safe Money and Retirement Show with
John Heischman. To contact John, the number to call is
one eight eight eight or two six zero one seven seven.
That's one eight eight eight or two six zero one
seven seven. Once again, here's John Heischman.
Speaker 2 (15:35):
This is John Heischman, your host for the second part
of the Safe Money and Retirement Show. This morning, we've
been discussing income options. Where is your money going to
come from, and of course planning for that income, making
(15:56):
sure that you can live and have the lifestyle that
you want, and making sure it's not impacted by market values.
I think each retiree needs to be excited, have confidence
knowing your income plan has been designed for you, that
(16:23):
you can spend money. You have cash flow, and it's
important to me to make sure that each retiree knows
that their income is coming in regardless of good or
bad markets. If you have a million dollars set aside
(16:47):
for retirement and you take fifty thousand out per year,
and if it comes out of cash flow income sources,
we want to make sure you don't have to sell
shares of stock, whether the market's up or down in
value in order to generate income, knowing that you can
(17:11):
spend that money, it's a renewable resource and over time,
you're going to be okay during your retirement. So I
want to offer a complimentary fifteen minute strategy call. This
is a telephone call where we have a casual discussion
(17:36):
about your income, where is it going to come from,
and of course is it going to be guaranteed. I've
done this for many radio listeners throughout Ohio, and after
our discussion, if you want to schedule a meeting, it's
up to you. Eight eight eight four two six zero one,
(18:02):
seven to seven. That's the number to call and we
can schedule that phone conference around your schedule. Triple eight
four two six zero one seventy seven. I think it's
very important to note that not everybody's situation is the same.
(18:24):
I have made different recommendations all the time. You don't
want to apply some blanket advice and have it be
the wrong advice for you. There's no cost, there's no
obligation to do anything for this phone consultation. I want
(18:48):
to take a moment and discuss the importance of retirement
planning because most people that I talk to have I've
had some type of investment advice, a broker that only
handles your investments, so many don't assist in the next
(19:15):
step at retirement. In retirement, you still need investment advice,
but you also need income planning and the different strategies
used to generate that income, and that income needs to
(19:35):
be guaranteed. You need to make sure that your investment
advisor can help you with retirement income planning and going
one step further, make sure they can provide the protection
(19:56):
plans that may be needed in retireronment. So what do
I mean by protection plans? I think one of the
best examples is long term care or home healthcare annuities
and life insurance. These may be plans that you need
(20:20):
and these are plans issued by an insurance company insured products.
Many advisors do not offer insured products for whatever reason,
and in my opinion, when it comes to financial planning
(20:41):
retirement income planning, in order to do the complete job
and be able to work with you through retirement, they
need to provide these products. If not, they may refer
you to another advisor or agent that they're associated with.
(21:06):
And if that's the case, you're now working with two
or more advisors during retirement. A big advantage that we
have Heishman Financial Services as independent advisors. We do it all,
continuing to give you investment advice, insured products if needed,
(21:33):
all through retirement. And hopefully you're working with an advisor
that does provide the total package. You might say, and
if so, and you're happy and have confidence in that advisor,
continue to work with that person. Now, if you're not
(21:56):
pleased or have confidence, you should get at a second opinion,
interview different advisors and find one that you're going to
have confidence in. And I think that's more important today
than ever because we've become a world of specialization, which
(22:19):
isn't a bad thing for many professions, but not necessarily
in retirement planning. Some things that need to be taken
into consideration is projected life expectancy. Retirees need to think
about their health right now and in the future. Longevity
(22:46):
is the biggest concern out of all the risk that
retirees face. At the top of the list, I have
to say, longevity is the biggest concern. Also in retirement planning.
If there is a spouse, how is your plan going
(23:08):
to impact them? If you pass away? Will the income
for that surviving spouse be sufficient or will it continue
at the same amount prior to death? What resources are
going to be available to generate that additional income shortage
(23:34):
if the same amount is to continue. All of these
factors that I mentioned are so important they have to
be addressed for the retiree. I mentioned life expectancy and health.
How about other assets that you have accumulated over the years,
(23:59):
how are they going to play a role in your
income planning? And as I mentioned before, no two situations
are exactly alike, so that means that it takes some
thought actual planning. I have to ask more questions about
(24:23):
an individual situation before I can make a recommendation. And
it's interesting because many times it's a fairly simple solution,
or it can be a detailed situation where it takes
time a lot of work on my part. But the
(24:45):
bottom line, if that's a situation, it needs to be done.
Take the time to think about your situation. Where are
you at, whether you're getting ready to retire, or if
you've already retired and you're questioning your plan, you're just
(25:08):
not sure about the future. I welcome the opportunity to
give you a second opinion and my thoughts as to
where you are and where you want to go. Take
advantage of my offer where we have a fifteen minute
(25:30):
phone conversation so I can answer your questions, concerns and
address where you're at as far as being prepared. AD
eight eight four two six zero one seven seven triple
(25:50):
eight four to two six zero one seventy seven. You've
taken a half hour out of your morning, so I
hope it's been beneficial. Thank you for tuning in to
the Safe Money and Retirement Show, and please join me
(26:11):
next week at the same time in the same station.
I'm your host, John Heischmann, and thank you again.
Speaker 3 (26:21):
The Safe Money and Retirement Joe John Heisman Senior. To
get in touch with John, call one eight four two
six zero one seven seven. That's one triple eight four
two six zero one seven seven. For more information about
Heisman Financial Services, visit their website Heisman FS dot com.
(26:42):
That's h E I, S C H M A n
F S dot com. Join us again next time for
the Safe Money and Retirement Joe with John Heisman Senior
People really don't know what their expenses will because they
don't know how long that they're going to live.
Speaker 2 (00:06):
The Americans are worried they won't have enough safe for retirement.
Now more than ever, retirement's going to cost for many
folks over a million dollars. He is no short thing
in investing, but a lot of people think that annuities
may come close to that.
Speaker 3 (00:19):
It's going to more safe, safe, safe, safe things that
they know.
Speaker 1 (00:22):
If they know they're going to need that money to
supplement the retirement, well then you can't play that rest.
Speaker 3 (00:27):
This is the Safe Money and Retirement Show with John Heischman, Senior,
Founder and partner of Heisman Financial Services serving the Columbus
and surrounding areas. John specializes in educating pre retirees and
retirees about safe money strategies and ideas. Now it's the
Safe Money and Retirement Show. Here's John Heischman, Senior.
Speaker 2 (00:48):
Welcome to the Safe Money and Retirement Show. I'm your host,
John Heischmann with Heischmann Financial Services. Thank you for joining
me this morning. As a lot of you do each week.
Most of the individuals that I meet with each week
(01:11):
are approaching retirement or they're already in retirement. As a result,
I hear a lot of questions. I think once people
get to that stage of life, they've accumulated money and
they've got questions or concerns about having success in retirement.
(01:36):
And these themes that I find are somewhat categorized into
a handful of groups. And I think this is where you,
as listeners, have a big advantage of having a show
done for you by someone that not only works with
(01:59):
three tirees, but see a lot of similarities. It's definitely
a complicated situation. It's like you're on a forty year
train ride heading for a destination called retirement. But when
those paychecks keep coming in, your schedule for forty five
(02:25):
hours a week is really well defined. You don't have
a lot of questions at that time. But when you
arrive at your destination retirement, that door opens and it
says destination retirement. You get off that train you've been on.
(02:49):
The landscape's really different, and those paychecks they're not coming in,
and all of a sudden, your healthcare probably went away
as well. And at this point you're starting to live
off your nest egg, and all of a sudden it
(03:09):
becomes kind of a complicated financial puzzle. I mean, I've
had a lot of people, especially when COVID was in
full swing, they said, you know what, I kind of
like this stain at home, working from home and not
(03:30):
leaving to have to go to work, fighting the traffic
and continue until going into retirement. By taking early retirement,
what does that look like? It raised questions there, And
now you've got situation where there are people either getting
(03:53):
laid off or they've decided they're not going to go
ahead and retire sooner than what they were originally expected.
Things have changed that raises some questions. And one of
the biggest questions that I find with people is how
(04:16):
much do they need to retire comfortably? And that's really
a loaded question because it assumes that some random lump
sum of money is going to be the answer. There's
internet pop ups that we see Can I retire comfortably
(04:38):
on five hundred thousand or one million? Yes? And no,
some can, some can't. There are so many variables involved
in a cookie cutter figure, so to speak, cannot determine
if you can retire on that amount. Because I've seen
(05:05):
situations where an individual will look at their portfolio and
you know they have a lumpsum of five hundred thousand
or even one million, and try to take their statement
and pay for groceries at the cash register, and that's
not going to buy you much because it needs to
(05:26):
be turned into usable, guaranteed income that you can retire on.
That's the real question. How much do you need? Again
can be misleading, and when somebody asks that question, one
of the questions I typically throw back in return is
(05:49):
what's the purpose of your money? Is it to buy
something or is it income replacement money? And for the
majority of people at least that I talk to, its
income replacement And for most I think that's a common
(06:12):
sense reply, because you have to replace that paycheck that
was there guaranteed every week or every couple of weeks
however you were paid from your employer, and the whole
purpose of that savings is so you can replace the
(06:35):
income that's no longer coming in. So it's a big
deal when those paychecks happen, and everything changes when they don't.
And one of the things that really concerns me about
the retirement planning industry, it seems like there are a
(07:00):
lot of individuals or firms, like Wall Street firms that
don't understand this that it's about income. Too much emphasis
is placed on growing your money getting a high rate
(07:20):
of return. How many actually talk about guaranteed retirement income
that's going to last as long as you do. So
I'm offering a complementary income review. This is where I
(07:42):
review your statements how much guaranteed lifetime income these accounts
are going to generate compared to your retirement needs. Where
are you at today and projecting how long long your
money is going to last throughout retirement. Let's address this
(08:06):
first and foremost. Then we'll talk about growing your money,
what your options are based on your risk tolerance and
your risk capacity. First things first, and I make this
offer to those of you that are within a couple
of years of retiring or already retired, because, believe me,
(08:33):
there are so many that are retired, they're not on
the right track and they need this income review. Here's
the number that you can reach me, and we can
schedule a brief meeting at my office in the conference
room at your home. It doesn't matter, whatever works best
(08:56):
for you in your time A day to eight four
zero one seven seven. Let me give you that number again,
triple eight four two six zero one seventy seven. I
think this will be very helpful to you and help
(09:17):
cover questions about a successful retirement. How much money do
you need in retirement? How much income do you actually need?
Not how much money do you need in a lump sum,
because I think the lump sum concept can be very deceptive.
(09:42):
What I've seen is that once an individual begins to
really understand how much income they need, then they realize,
you know, what they're going to have to make that
amount of withdrawal from their portfolio. Then the strategy is
(10:03):
what kind of income can I get from my portfolio?
And that begins to change how you invest. You can
actually do some pretty good dynamic math that I help
you with. We will correlate projective lifetime income by reviewing
(10:25):
your projected social security income and pension income if you
have a pension. I have met with retirees that their
income consists of social Security and a pension, but more
is needed for whatever reason, and I've showed them how
(10:50):
to generate that additional amount needed by setting up sources
of guaranteed lifetime income in addition to that social Security
and pension check that they get each month. So find
out more. Take advantage of my offer, because the only
(11:11):
thing that's going to cost you is your time. Call
me at eight eight eight four two six zero one
seventy seven triple eight four two six zero one seventy seven,
and don't forget to visit my website, which is Heischmann
(11:34):
f S dot com h EI s ch m a
N the initial F than the initial s dot com.
I'm going to take a break, so stay tuned for
the second part of the Safe Money and Retirement Show
(11:57):
this morning. I'll be right back.
Speaker 1 (12:01):
Thanks for listening to the Safe Money and Retirement Show
with John Heischman. For more information, call one eight eight
eight or two six zero one seventy seven. That's one
eight eight eight or two six zero one seven seven,
or visit their website at heischmanfs dot com more of
the Safe Money and Retirement Show. In a moment, you.
Speaker 2 (12:28):
Have spent your entire working life hoping what you put
into your retirement accounts will help you live comfortably once
you leave the workforce and go into retirement. The keyword
in that sentiment, and the word that can make retirement
(12:50):
feel like a looming problem instead of a rewarding life stage,
is the word hope. You hope that you'll have enough money.
Hope has no place in retirement planning, so we want
to eliminate the hope and change that to I know
(13:15):
I will have enough money for retirement. The bottom line
is you need to be focused with a well executed plan.
Leaving your retirement up to chance is not an option
by any standard, but with information tools and professional guidance,
(13:39):
creating a successful retirement plan will put you in control
of your financial management. This is John Heischmann from The
Safe Money and Retirement Show. I can help if you'd
like to schedule a telephone conversation or a face to
face meeting call eightay eight four two six zero one
(14:05):
seven seven triple eight four to two six zero one
seventy seven. Avoiding mistakes can save owners of iras four
(14:26):
to oh one, KS and TSP plans, as well as
other retirement plans a fortune and taxes, penalties, fees and loads.
These potential mistakes are addressed in the free book entitled
Top ten IRA Mistakes. This is John Heischmann from The
(14:50):
Safe Money and Retirement Show, offering a complementary copy by
calling eight eight eight four two six zero one seven
seven again that's triple eight four two six zero one
seven seven.
Speaker 1 (15:18):
Welcome back to the Safe Money and Retirement Show with
John Heischman. To contact John, the number to call is
one eight eight eight or two six zero one seven seven.
That's one eight eight eight or two six zero one
seven seven. Once again, here's John Heischman.
Speaker 2 (15:35):
This is John Heischman, your host for the second part
of the Safe Money and Retirement Show. This morning, we've
been discussing income options. Where is your money going to
come from, and of course planning for that income, making
(15:56):
sure that you can live and have the lifestyle that
you want, and making sure it's not impacted by market values.
I think each retiree needs to be excited, have confidence
knowing your income plan has been designed for you, that
(16:23):
you can spend money. You have cash flow, and it's
important to me to make sure that each retiree knows
that their income is coming in regardless of good or
bad markets. If you have a million dollars set aside
(16:47):
for retirement and you take fifty thousand out per year,
and if it comes out of cash flow income sources,
we want to make sure you don't have to sell
shares of stock, whether the market's up or down in
value in order to generate income, knowing that you can
(17:11):
spend that money, it's a renewable resource and over time,
you're going to be okay during your retirement. So I
want to offer a complimentary fifteen minute strategy call. This
is a telephone call where we have a casual discussion
(17:36):
about your income, where is it going to come from,
and of course is it going to be guaranteed. I've
done this for many radio listeners throughout Ohio, and after
our discussion, if you want to schedule a meeting, it's
up to you. Eight eight eight four two six zero one,
(18:02):
seven to seven. That's the number to call and we
can schedule that phone conference around your schedule. Triple eight
four two six zero one seventy seven. I think it's
very important to note that not everybody's situation is the same.
(18:24):
I have made different recommendations all the time. You don't
want to apply some blanket advice and have it be
the wrong advice for you. There's no cost, there's no
obligation to do anything for this phone consultation. I want
(18:48):
to take a moment and discuss the importance of retirement
planning because most people that I talk to have I've
had some type of investment advice, a broker that only
handles your investments, so many don't assist in the next
(19:15):
step at retirement. In retirement, you still need investment advice,
but you also need income planning and the different strategies
used to generate that income, and that income needs to
(19:35):
be guaranteed. You need to make sure that your investment
advisor can help you with retirement income planning and going
one step further, make sure they can provide the protection
(19:56):
plans that may be needed in retireronment. So what do
I mean by protection plans? I think one of the
best examples is long term care or home healthcare annuities
and life insurance. These may be plans that you need
(20:20):
and these are plans issued by an insurance company insured products.
Many advisors do not offer insured products for whatever reason,
and in my opinion, when it comes to financial planning
(20:41):
retirement income planning, in order to do the complete job
and be able to work with you through retirement, they
need to provide these products. If not, they may refer
you to another advisor or agent that they're associated with.
(21:06):
And if that's the case, you're now working with two
or more advisors during retirement. A big advantage that we
have Heishman Financial Services as independent advisors. We do it all,
continuing to give you investment advice, insured products if needed,
(21:33):
all through retirement. And hopefully you're working with an advisor
that does provide the total package. You might say, and
if so, and you're happy and have confidence in that advisor,
continue to work with that person. Now, if you're not
(21:56):
pleased or have confidence, you should get at a second opinion,
interview different advisors and find one that you're going to
have confidence in. And I think that's more important today
than ever because we've become a world of specialization, which
(22:19):
isn't a bad thing for many professions, but not necessarily
in retirement planning. Some things that need to be taken
into consideration is projected life expectancy. Retirees need to think
about their health right now and in the future. Longevity
(22:46):
is the biggest concern out of all the risk that
retirees face. At the top of the list, I have
to say, longevity is the biggest concern. Also in retirement planning.
If there is a spouse, how is your plan going
(23:08):
to impact them? If you pass away? Will the income
for that surviving spouse be sufficient or will it continue
at the same amount prior to death? What resources are
going to be available to generate that additional income shortage
(23:34):
if the same amount is to continue. All of these
factors that I mentioned are so important they have to
be addressed for the retiree. I mentioned life expectancy and health.
How about other assets that you have accumulated over the years,
(23:59):
how are they going to play a role in your
income planning? And as I mentioned before, no two situations
are exactly alike, so that means that it takes some
thought actual planning. I have to ask more questions about
(24:23):
an individual situation before I can make a recommendation. And
it's interesting because many times it's a fairly simple solution,
or it can be a detailed situation where it takes
time a lot of work on my part. But the
(24:45):
bottom line, if that's a situation, it needs to be done.
Take the time to think about your situation. Where are
you at, whether you're getting ready to retire, or if
you've already retired and you're questioning your plan, you're just
(25:08):
not sure about the future. I welcome the opportunity to
give you a second opinion and my thoughts as to
where you are and where you want to go. Take
advantage of my offer where we have a fifteen minute
(25:30):
phone conversation so I can answer your questions, concerns and
address where you're at as far as being prepared. AD
eight eight four two six zero one seven seven triple
(25:50):
eight four to two six zero one seventy seven. You've
taken a half hour out of your morning, so I
hope it's been beneficial. Thank you for tuning in to
the Safe Money and Retirement Show, and please join me
(26:11):
next week at the same time in the same station.
I'm your host, John Heischmann, and thank you again.
Speaker 3 (26:21):
The Safe Money and Retirement Joe John Heisman Senior. To
get in touch with John, call one eight four two
six zero one seven seven. That's one triple eight four
two six zero one seven seven. For more information about
Heisman Financial Services, visit their website Heisman FS dot com.
(26:42):
That's h E I, S C H M A n
F S dot com. Join us again next time for
the Safe Money and Retirement Joe with John Heisman Senior
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