Ultimate Retirement Planning Show - 6.30.18

Saturday, June 30th

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Retirement Planning

Estate Planning

Will and Trusts

Life Insurance

Financial Investments

Tax Planning and Consulting

Annuity Investments

Notary services

Veteran’s Aide

Fund Distribution Configuration

Pension Buyouts

Long-term Healthcare Planning

Small Business Accounting and Payroll

Social Security Maximization

Death Benefits

Creation of Defined Benefit Plans

Liquidity Evaluations and Projections

401k and IRA Advice

Educational Seminar Sessions
00:55:35

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Welcome to the ultimate retirement planning children have questions about retirement get all your financial questions answered right now by calling 303. 3060105. John. And you're listening to the ultimate retirement planning so. Good morning every one. I am joined here by my colleagues and partners mr. William Gonzales the morning William good morning good hosts and mr. animal demand. Been been a hot we counted ask their ages I think we hit a 105. There. I was in the office and you were you guys are in the office they actually hit a 105. Now I think Kenny. I'm glad I was in my office. But I was wondering why you guys didn't move me outside since I get so much on. That's tough tough tough love that you almost similar guy virgin blue. I do appreciate you get a C do you have. On Thursday I think we're warmer in the Las Vegas and parts in Tucson more. Yeah. So has been humid too often against them. Looked at bloom bottom of the photos of 51% humidity isn't so spoiled and thought how are that people listen and this isn't the weather. A hot topic. Beautiful day and did and didn't really care and you're right let's give up slow unless we are tired plantings OK okay we have a great show in store for our listeners today but once again we want to thank you for joining us. We encourage you to give us a call at 3033060105303. 3060105. So guys let's get right into our topics today. Let's go live time talking about the market these you know. We have now completed two quarters of 2018. That we first quarter. Was was not dead bid for the markets because of the volatility that have occurred the second quarter. Looks to have that rebound it's somewhat been out all the way in relation to the end of 2000 seventeens. It's our listeners might be thinking hey you know we're on the right track. It's gonna come back. You know what should I be doing now. Can't always know this time talking about some things that that they should be at taken a look at. And that EA it's great that there is a certain leveler rebound that has occurred. Things error the you know starting a trend that began overall. Not in relation to 2017. Though you know the way to stand sat up there in 2017 but you know it's that it's there's some progress that is happening so. What are some things that we did share. With our listeners as they wonder what to do with their portfolios now we certainly have got a lot of questions this week and in the last several weeks regarding us. Market volatility and we've given advice. That's a folks who have come in but what are some things we here. Shareware and our audience now mean the number one thing that I and I say this a lot of price sound like a broken record Brit. Come in and see us and then let's take a look at where your outlets do Morningstar report Morningstar analysis. Kind of a consumer report if you will. On now on your portfolio and are you taken too much risk. We know one thing for sure is it that we don't know where the market's gonna go. The husband did it first court there was a lot more volatility. They elected the Dow has just been hanging out it did 2425000. Mark in ends you know that. Depending on what trump says and in the whole terrorist thing that's the God's. Who knows where were going I mean I I know that we've been up for a long time yet and I know that's. There's no time like now to take a look at where your act and what you're doing are you on track to hit your goals. Are you taken too much risk how are you managing your money. And and wire you doing the things that you're doing absolutely and I I say got a lot but but to me it's pretty easy I mean let's. Look at where your rat and where you're trying to go under our you do are you doing the right things to get you there you taken too much risk. So she had not yet. Taken that chance to do him and go over your annual review of your portfolio. Now's the time to do so. Yeah let's let's no longer put them on the back burner let's not wait till next week or tomorrow to do we can do today. And and let's get things and in order. So for those of you that are listening that very you know thinking about you know I yeah he's right I haven't yet had my annual review I have not really looked at who what I'm holding. I'm not even sure what level of risk I'm currently taking trade then that's where we need to to identify and buckle down and and really understand what the type of risk that your your associating your your portfolio with. That's it to be certain that cheered in a comfortable level. Because of course you want them manage their risk my like Adam said we we don't have the crystal ball. But what we can do is manage the risk that is appropriate for US consumer. Right there are you invest in the market there's so many variables right there outside of your control. So what I hear you guys saying it's less control what we can control all right so here number one come I mean give us a car. Let's let us take a good look at your portfolio. Look at the underlying assets. See what you are invested and and then we'll do you know a series of analysis. Including determining whether or not you're investment portfolio reflection of true risk tolerance. That's another thing that's often. Overlook or there's some mismatch and seed coming in to do that investment analysis. You you get an understanding of Vienna underlying investments. Risk and reward which is what you guys are doing so what you want to do you structure your portfolio. So they choose. Get the reward to two looking for based on the wrist that you are going to take. I'm not a lot of reward would no risk that's Obama conform hey you know what now tell me there's only and only one or two products that can pay. That can be then we'll talk about those attitudes are so big gap below the preview on a lot of all reward no risk is only couple things that will allow you to have that. Have both of those benefits. But you look and as in a five have balance within your portfolio. That is used in so. You know in the middle of the week when there is some volatility there Wii and a meeting with the client came in and and they felt pretty good because they had a portion. There are portfolio protected. And they could they could stomach the and really all the time the law's tiller in the market they knew what type of portfolio layering and and down and so they were they were fine with them may understand him that all my money is. Is in these particular assets so we're cool we know let's don't go up and down and that might be the norm for awhile but it's. We're comfortable solely to sleep in my mask what we want the used as investors that's when all of us truly want to do to be able to sleep at night in exile regardless of the market conditions. Also I met with a client just a couple days ago and I am I met with them. Originally priced six weeks ago they came to one of our Social Security workshops that we do and and will you do such a good job and I keep getting compliments about how well you do and how well. He educate people and that. You know we're just everyone's learned something and that's always our goal is to educate right and so anyway headed Johnny came in and and we did a Social Security report Foreman we're able to help mount on that. And then he also want us to help them you know on some income planning ideas and again that's a lot of what we do we do a lot of income planning reports Roth conversions it's. Or more about the distribution not so much that accumulation we can help you with that. But it's more about putting together a solid tax efficient income planned for people in retirement so anyway he sees. He's engineered. He's got a nice 41 K nice pension with Lockheed. I and we I don't know why but I I've been seeing a lot of engineers I reform but there's dual layer lock key there. Boeing and anti now I mean there's been a lot of them coming in a lot of people didn't close to. Retirement or didn't laid awful a lot of those engineers when they get older I mean. You know Heidi I know some personally that is him when they get to be in those high ideology now hers I don't know I dollar salaries they. You know there. Lifetime let go. Point they're looking for somebody younger and cheaper and yeah love your talent pool is that there's no age discrimination in the one place in Harare the episode so anyway so he came in and he's got a good size like a surrogate says 41 K good says pension but in his 401K. About. 60%. And 5560% of it was all that company's stock. Was all Lockheed and he said. You know I really I I have my goal was to have a million dollars to retire when it when I had a million dollars saved up in retirement assets. And he's at about 900000. And he he just hasn't been able to get there and you said. You know I really want to hold off on doing anything Intel I you know I am I don't want even think about this are doing a roll over your. No you know until I get a million bucks that's that's my goal. And and we talked about the difference in haven't a million bucks and examining guaranteed lifetime income stream and and how have been in income stream. Is is a lot of times better than having them a million bucks in the bank now and so anyway so six weeks down no price by three weeks goes by us. And we get back together in unfortunately that Lockheed stock was down 20% move. And so now all worlds are sinful school pill to swallow yeah I mean enough. So so that was too much he had too much in that one company staff I mean it in great company and a great defensive you know I mean but to look too much in one company and now. Worry did not go back to dry Mort I mean he's going to be OK he's got other pension money he's got some more years to go but but why why didn't we do that. It's that time Friday and we do that roll over and protect those assets at that time. Well it gives you don't know what you don't know and sometimes the emotional aspect really gets the better of people. I've met with quite a few people that say you know I have an emotional attachment to this certain investment and at that point it's okay if this. We need to understand what it is it's really holding you there and it is it gonna benefit you do it to sit there and hold it or should really look at options. So we we have to take the emotion out of it we have to look at it. Her as logically as possible. And really take into consideration what type of risk you're taking as usual said that gentlemen unfortunately had that single investment risk. The diversification was not there which means when that bad news comes about he's gonna feel that affects so. For those of you that are sitting holding those single investments we need to really take a moment and look at diversifying the portfolio you've and I know Gus wants to say something good. He's Alan and I I gathered again say this before I forget it. It's not that I'm you notice as I have a lot of mama and. The I completely in Poland and I've been at the Little League. Dialogue. Now you know that you guys are. Absolutely correct with respect to emotions and that's why you need a third do you need an independent party don't you come see us. So that we can help take the emotions out of making that decision and so when people come in what little there there emotionally attached to you know could be a preview an advisor that they work with so many years and their portfolios have really grown. And things like and we understand that but Mel you know we're talking about. A paradigm shift in you know how the ear you you're shifting from accumulating to breast preservation and growth. And sometimes it takes a whole another team around you. So that you can make that transition. Over to this new shift that has to occur but it when you come in we can help. Mitigate the emotions that she gonna have been making a decision like them and really get to to focus on some logic and some things in the future. Yeah and I know we just know with the with the Yahoo!. She was here. Stuck on them was a Walgreens oriented Walgreens and that was before they even made it to the Natalie Allen. And you know we're here worries were produced shares were gonna show yet. We're gonna we're gonna give yet. Our two cents and we're gonna tell it here's here's going to be. Honestly you know good. Looking out for you looking out for your best interest here's what we suggest for yet you don't have to take our suggestions but a lot of people doing a lot of people of then it's helped out a lot of people right on. To each his own right guys right here and again like you say where we're not here to there took make you make decisions we're here to. Provide you with options with the opportunities that we believe is going to increase the quality of life right. And that's what retirements all about right is enjoying life and having that quality of life that you want to have be able to take the little vacations that you want to take be able to give the gifts to good children or grandchildren that you like to do. Or just be able to enjoy your time sitting at home with your spouse if you still enjoy that time could occur revenge or any of of slew of heard. I want to spur us to go back to work. And you know well I think one more thing I like to get out there to. Is in and we talk about this as well so. You know with the way the markets are right now it just makes sense to have a team on your side that well you know not only give you some recommendations to help preserve and grow. Your portfolio. Whether Nigerian retirement mean you know many harm many is hard earned money. And you want to ways to continue to protect it and to grow and has the same time. And to take the approach your risk level based on New York near tolerance but you know one of the things that. Our two. An investor's advantage is maybe have an a piece of their many tactically man it's especially when the markets are as unpredictable as they are. So the one constant cleaned and we've all heard in the markets is the volatility is a norm right now. He can't rely on key indicators anymore to really tell you in the market is going. In so it's almost. Resets the playing field. He and so. In order for you to you know be sure you still of the blame for you may need to change your strategy a little bit with respect to investment so a lot of folks are and what they're now abide hole. And last mutuality museum yet and that's good when the market's gonna. That's easy yeah when you market and anyone can manage your money absolutely I mean. Ever one's money's going right and that's the blues artist throughout and but but when that's when Ramallah when volatility is an alarm. They need you have to change your game you've got to change your strategy a little bit. She has to move away from something like passive. Or buy and hold strategy. And you know you don't wanna be. Like they trader mentality now at a drive you crazy but I thought I would ever barely days they try to day trade in. He ended up drink it. Because he couldn't handle all the pressure he's managing other monies and you know makah became Israel and now he's see he's let's test is. At a rare I had to bring my whole debate trading ulyetza learn. Both completely different sides and I election there but if you him well it's important that you you understand how that's going to affect she absolutely you know if you are mourning to try the daily trading you're going to be watching the market on a daily basis and in watching you go up and down and trying to. Ted time and we all know that timing the market doesn't work yeah. So it's important that you you you builder. Strategies specific towards you and your goals and objectives and risk tolerance once that's built. Follow that plan. Don't deviate from the plan until something changes into life. Opportunity year heard. Drastic changing your life happens there's no reason to change your your plan if you is built specifically tailor made for you. That's a good plan that's right working right and now but yeah I think back to what does the same though is having a team and taken that emotional side out of it I mean that that's huge that's yet I mean. We're like this it I've I've mentioned before but I mean when I first started. In the business I was I was about fifteen years ago I was you can call me a stockbroker if you Welling I helped build portfolios for people and there's a lot of pressure in doing that there was always people that were doing it better than me and so we we've teamed up with those guys have been in cabana who we used a lot nanny arm manage money platform. They could they do held a job right and in the average investor. The person that did it Dave and they probably haven't seen us a lot of times people bit. They don't have a a huge amount of assets saved up large retirement accounts saved up. They haven't seen things like this they haven't. They haven't been offered this you know runs is known as the point yeah so so that's one thing that were able to do is we're able to bring. This type of investment manager to the average consumer. Absolutely and so. All right well. Hey so eighth at the end of the day to you know to summarize this and before we take our commercial break. They'll give us a call at 3033060105. Set up an appointment. That's come on man. We'll sit down with you will. Would like to take a look at your investments of course and to my eye on that call will tell you what will need to get that process going. And ants at no charge two years and that it's it's gonna help you out did get some insight comment you understand your portfolio better and at the same time. We're gonna present some options say help strengthen your portfolio. So that you can sleep that night. And during times of volatility or not I don't think there's anyone that's come in they can honestly say they haven't learned Soledad yeah now you're gonna get some education out of it. And in the time is now just like we talked about. Amid time is now what do what a great time to come and visit with us absolutely. All right so guys we better take our first break you listen to the ultimate retirement planning so again give us a call at 3033060105. The market is that record how I spoke Kool knows how long that will continue so that white. Savings rates are still relatively low in the bond market continues to hover around all time lows. According to bank Tree.Com the average national rate for money market accounts is under point 5% and by your CD rates are 2.2 2%. So what are the other options if you were looking for a solid interest rate with out the downside risk of the market. How about a fixed annuity that pays a guaranteed rate at 3.2 5% for five years with no fees an optional interest payment second start after only thirty days. This is one of the highest rates available today called third tax advisory group today at 3033060105. To learn more about this fixed annuity that guarantees 3.2 5% a year for five years. That's right 3.2 5% guaranteed for five years health care tax advisory group today at 3033060105. Welcome to the ultimate retirement planning children have questions about retirement get all your financial questions answered right now by calling 303. 3060105. John. And fearless into the ultimate retirement planning so give us a call at 303306010530330601. There are fighting guys you know we always like to say that we give out our telephone number because. We are we trying to leave there be available in various sensible and so you might be listening to the show. I'm a Saturday and Sunday a policy to get our voice now we'll get right bacteria will set up the appointment with the engaged and and debt meet with you see how we can help you. Our eye on that note let's go ahead and talk about some of their tactics this morning so what's your recovery guys we got some meaning here. It do we wanna spend some time with 401K. I think we should you know let's got to follow up from last week he we've we've mentioned great benefit it's now being provided for for individuals. For people that have lost 41 K senator unable to track them down or just forgot to roll those over into. They're new retirement plans are in two individual IRAs at that point in time not so it's incredible benefit that's been being provided now to help people tracked down those lost serve just. Misplaced for one case. You know sorrow I was on the a phone call last night with a gentleman. That was listened to our show called then. He was unaware. That he too well so yes and all 401K it's got a new employer. But he did not know if it did he can roll that 41 K over tax without without attacks. Don't know it's tax free you can you can do roll over some other there's no dumb questions. I know people get busy with life in with work and you know this is what we do for a living and so we've probably answered the questions you have. And help people through those so those scenarios. But yet if you have an old 401K. You do not have to leave it there you should not leave a share who've done it it needs to get rolled over a tax free roll over. Into an IRA and that way you take control of it in and you have the ability now to do. Whatever the heck you want inside and outside and we can give you all different kinds options but let's take control of that it's not a taxable event. It's a tax free roll over into an individual retirement account. That's right now you can also roll a little over two years. Your new employer's retirement account. But the thing about that issue we need to make sure you do and properly. Because yes it is a tax free roll over as long as the proper steps are taken. If it goes from institution to institution is the best way to go about it because if you. Take that money and I'm not saying passionate on saying you take the roll over and take. Possession of that check. You have sixty days from that time to get it reinvested. In 218 other qualified account. Before it becomes a taxable event so I have seen the situation where an individual has left their previous employer. Went to initiate the rollover received the check came then did not get a invested into another qualified account within sixty days. And unfortunately it then became a taxable event because you had the money for over sixty days it did not get reinvested properly. It is now. Considered taxable income on top of the other income that you had throughout the year so it's important to follow the steps in the processors. I had to make sure that you do not get hit with unnecessary. Penalties or taxation. Because if you are younger than 59 and a half in you do initiate that rollover in you do not get it invested within that sixty day time period. You were gonna be taxed as well as you're gonna receive a 10% penalty for taking income from retirement account prior to. Retirement age of 59 and half. From then and so whenever we'd do it for for folks whenever we don't want we do roll overs. We always if we can go from institution to institution so so we don't want you to get to check we don't want we don't we never get to check it you know if it's gonna go anywhere it's gonna go to the new company so from. Go old company to new company. And some but sometimes you do you are required. Two to get to check and then you know a lot of times a chip will be made out to the new company and then you bring it in and we overnight and into. You know if there's no way around it then then that's what we have to do but. Well we try to go from institution to institution as much response yet and one other thing so you can go from old 41 K year old under previous employer to do new 41 K. But the one thing is is that now you're in that there for a one K plan and so. So again you're you're limited to what what options now options exactly so so right and so I'd say it's if you do have an all 41 K out there. Comment and CS and let it show you the options. You know there's there's there's a lot of different options out there there's options that are that are completely liquid there's options that are amid new rule will show you what's out there. Yeah you know and then there's a lot of discussion today and going forward about. What changes can be made to its current for what you've been okay now. And what the possibility of investments can be for the future and I mean there's even talks of including Gary college savings and 41 cases will lose. You know emergency fund savings within four annuities annuities within the 401K so that people can establish eight. Decent stream of income that they can depend on for the future because for one cased. Re placed new majority of the pensions yeah I can't. So but in in that sense that the problem is we as individuals as consumers businesses employees are. Self employed individuals. We're still not saving enough and K. We're we're putting in the bare minimum if that at all. And it's really having an impact on our future and that the amount of money that we can depend to pull from infant when we need. You know that's what scares me a little bit too easy if just thinking about the big picture. All these baby boomers retirement right now pensions have to have. Earlier they're gone and they've gone learned their god I mean fat and so now it's on new and we've had this ten year bull run. In people are getting ready to retire what how're you how are you position. Are you gonna stay in the market and and ride this out for the next decade for the next twenty years. It isn't one thing it just destroys retirements. For people is is right when you retire have in the market crash laughs and then you're going back to work in no one wants to go back to work as they have to. So that's just it out when you think about it thinking about the big picture yeah that's great the market's been up so much but are you position how are you position going forward. And now we're exactly. Exactly and you know and with respect to positioning. I'm share now all of us know people. And maybe some of our listeners who were not investing in 2007 into that and they. No. They didn't anticipate they'll pull back that way and they did they didn't think it was going to be that deep. And so it's there's that old boy scout motto. Which says now's a boy scout but I can't exactly remember the model. Thought I might as be prepared men surprised you know don't have the kind of paraphrasing the fifth. And it's better be prepared than surprised yeah now so. Out more or safe than sorry better yet safe and Zaria and cells do. Yes so it it's prudent especially if you're retired. Soon you know it's prudent. For either do some preparation means you know we do it right now don't wait don't delay. You know that Elise get the information and then want to have information if you don't wanna act and information in minutes on any. But I'd say for yourself and for your family. You know in any peer looking at retiring soon give us a call. Come in set up unemployment. We'll talk to you about. Funeral and over your old 401K. And offer you some suggestions some other alternatives that to get their money work and where you sure you mean control eleven. And you know shares some other things with you've been. Give us a call definitely. Exactly and over again offer for those you that know you'd. You have blue pension or 401K that is lost. Somewhere in translation there. Yeah there is the grouper benefit that is helping individuals tracked that down and so if you need help tracking down lost pension or 401K. Contact the federal Employee Benefits Security Administration. At 1866444. Decreased to seven to again that's 18664443272. Or you can go to www. Pension help that all work. And then that'll help you track down some of those who have lost 41 K user pension plan's price because that's you know it's money you worked really hard for let's let's not just let it be. Taken back. But it you know I wanted to add to and I know we talked about this last week. You know it's respect to pensions and and things like that the winner this week there every week. We get someone calling us. And presenting a pension buyout and asking for our opinion and so we got one this week. Mean it was a pretty large pension. And so. We gave recommendations and and and one of the questions we asked is okay. Let's say you pass away and you select. You know either a you know a single pay our joint pay out. And it's early in the pay out period five years in you have this imbalance there. It was quite large you have this balance there do you know what's gonna happen to them balance if something happens see you feel like. But guess what. The answer as so well say it doesn't go to my family it goes to the company back to the company and a lot of people. Now in some cases it will go to the NS that is different for every company an easel and yet you can't assume it write it out yet. But too many people are aware of that nature and it comes as a shock it comes as a surprise. And as you said you better be prepared and better to be prepared than surprised so let's let's get better understanding of everything that you have working for you right and how it benefits you and how we came. Oh yeah hinder your your legacy if you if that's what you're trying to leaf you know because if you have that pension. And the option is single life joint life survivors who you choose those god forbid something happens to you win your spouse from where does that money go yet if you want it to goatee your. Children or grandchildren and it's important to understand those features and if that is available to it. If not then. Let's think about other options didn't. We take a lot of pride in what we do in one thing that I love about. All of us is that there have been people that have come in. And I know with almost any other firm in Colorado. They would have done business they would not have has given them that their recommendations in the advice that we gave them. I mean we turn people whale locked. You know it is if whatever you've got going on right now is is better for you than what we can do were weren't we're gonna say leave it leave it as our corn. So I'm I'm working with a couple right now and same kind of thing they brought in their pension paperwork and a lump sum was about 200000. That they can take out new roll over. But what they were getting on a monthly basis was so much more than what we can provide so I Cindy and I went we got to leave them there we gotta keep the income there to answer and they said you know what thank you so much. We have not this is the first time we've met with fiduciary is it look that are looking out for our best interest and I just thought that was that was powerful you know that's. We're not just out there trying to. Make a buck work we're try and didn't you know we're doing the right you'll look only help me keep. That's the biggest that's the biggest difference now and then to keep that look you guys could. Excellent preservation again resuming that that is our focus. Preservation. With emphasis on income and in growth because we do need that growth that is even in retirement too you still have to have growth but. You need to make sure you're not taken those losses right yeah now you're depending on these monies forward. Jordan needs you can't take risk unnecessarily. So. With that being said we're gonna take a quick break this is the ultimate retirement plan and show. It was called the scheduled at no cost consultation. 3033060105. Get that portfolio analysis and their risk assessment we look forward to meet with each and everyone of you and we'll be right back. The market is that record high spoke Kool knows how long that will continue so then what. Savings rates are still relatively low in the bond market continues to hover around all time lows. According to bank Tree.Com the average national rate for money market accounts is under point 5% and by your CD rates are 2.2 2%. So what are the other options if you were looking for a solid interest rate with out the downside risk of the market. How about a fixed annuity that pays a guaranteed rate of 3.2 5% for five years with no fees an optional interest payment second start after only thirty days. This is one of the highest rates available today called third tax advisory group today at 3033060105. To learn more about this fixed annuity guarantees 3.2 5% a year for five years. That's right 3.2 5% guaranteed for five years health care tax advisory group today at 3033060105. Welcome to the ultimate retirement planning children have questions about retirement get all your financial questions answered right now by calling 303. 3060105. John. And we're back if you listen to the ultimate retirement I'm shows give us a call at 303. 306010530330601. The zero for guys some guys man where has this time guy. No it was bum rap that was loaned her own you know I know we talk about the weather and we clarifies in this in the weather to the states and felt like I'm I'm I'm we're not talking about taxes yeah that's why numbering in. All right if all right so hey let's move onto our next topic let's move those times normal life insurance and. And it we've all met list prospects who have come and then and you know it starts out becoming you know retirement planning session and then. We start asking questions so that we can get anything good pitcher on where they're at financially. And once we get into what type of life insurance. Do do they have. Brockton mass way you know once I retire. It could do I need to keep my life insurance anymore what should I do with that and that's a very did good question. And answer is guys what it. Really dependent demands that it. Situation. Yet you know we we are all different we all have a different responsibilities. And obligations. And the thing is you know if it as as a younger individuals who came prior to retirement we we need life insurance and Carey took to make sure that we can. Handle our responsibilities. God forbid something happens to us. Whether it is too to make sure that we're. Their mortgage is paid for to make sure that you know you're your family gets to stay in their home and still continue to live life they want to live right two to make sure that the college funding is this taking care of fifth and then once you get to retirement that that is the big question is do I still need this life insurance. Then again like we said it depends. Do you still have three large mortgage should take care Marr used are there are still members in your family that are dependent on your income right if that is the case then. I would say the need is still litter campaign but it. If you've gotten to the point where where the obligations are no longer there there's no longer people that are depending on your income to. To enjoy their quality of life. Then there may not be a need for for the life insurance. That that question at that point then comes you know if I have the term insurance or if I have a whole life for permanent insurance do I keep it right thank. Now if you've been paying on a whole life policy your permanent policy for. Years and years and years. I'm not gonna tell you turn turn. To stop paying forward to move Kerry because then let's move to meet its lending money go to waste for all those years and and not taking advantage of the benefits of the insurance. I would then say let's keep it. Let's look at if we can still afford the premiums and carrying a fifth that is the case and we can afford it let's keep it in and use it for that reason McCain because there will come a day and time when you will not be here who can't. And if you are looking to take care of your family your feet just looking to give them. Step in the right direction by having that benefit. That's a wonderful way to leave a legacy who care it's a tax free benefit to your beneficiary. Who carry which is. That this is just so helpful track you know. In you know and it. And you know my linking us to ruin your says it. Is he gotta ask yourself some questions so is there going to be a financial loss exactly if the enthusiasts moon you may wanna look at how are you don't cover the loss they do down and they come a team like us and we'll help you figure out how to cover the loss in the most tax efficient way. As possible also do you think there's going to be financial loss and that could be did just demands on your situations. Financial loss would be if you lose wanna stream of income. Answer questions like that right guns and you know there's a financial loss you gotta cover it in just because you retire. This is well I gotta get in my head. Just because you retired doesn't mean it. Aegis Tosh if financial responsibilities out deliberately because he you know feel like you feel like in a most of us we have family. You know we have younger spouses. I'm really the same age as my starts this season I think. And why. She looks a lot younger union member of you got to beat and hey hello. I'll tell you that bad than it did give me a million dollar you know look at it I haven't felt maybe I did that I got to be you know what they're not in there isn't there you go probably if you have a. The only younger spouse and there is in all considerable age difference between the two men. You know she's gonna time out Libya you don't generally. Now on the ill with respect of feeling yeah I mean I still have financial responsibility to my spouse I have some. Financial responsibility to my kids ask some financial response really maybe even to my. Frank is a natural legacy comes in and so those are things that have to be put on the table. And that's gonna help me decide whether that unique coverage in retired. That's when the emotion and really that takes charge them because it. Life insurance is an emotional investment in two K you get it because you want to take care of your family moon okay. You have to understand that it India and just with what you said right there guess there. To me that's in need for life insurance right. All the responsibilities. That you just listed out on the table live to me that's a need for life and cheer we know is you know what is the right. Type of life insurance or don't already had a bit. What's the most appropriate. Planned for you going forward now typically whole life for permanent policies are going to be more expensive because. They're not just for some period of time they're gonna go with you until 100. There and your whole life for your whole life exactly. So. Turn insurance is just very. Practical way to to cover your responsibility. Men who carry your your obligation as some would say. I'm not obligated to my mortgage I'm obligated turn turn my health insurance are obligated or to utilities and grow treason and things of that nature and my responsibility. Is to make sure that my family still taking care of unprotected so. Typically permanent insurance her whole life indexed universal life they're gonna come with a higher premium. Because it's going to lasting longer. Sort of time but for just pure protection for your focus is I just wanna cover for my mortgage than. A term policy. More than likely he's going to be appropriate for you but that's where we do all the digging questions and asking and figuring out what's going on in the world to help us really provide that. Personal touch and and that appropriate recommendation for you. And so like you see on TV there's commercials for select clone and all these companies where they can you know you call in and they shop and out that's that's what we do. And I mean so it's not like were we don't have loyalty to any one company where independent holistic financial planners. You come and here's what here's where were our right now. Here's what were planned and four and then we go out and see if if it's just a term policy that we're looking for the we're gonna see who's got the cheapest rate. If and so was life insurance I mean that the biggest thing between the two different types like features permanent permanent insurance and term insurance how I blame a Sammy. It's is the cost and then you know what's it but what's this money why are we planning for this is it. For estate planning reasons 'cause you know that's dead there's no term insurance in estate planning and firm for cash value life interest for tax free income. You know we don't use term insurance that's kind of what what was the whole goal here what are what are we trying to accomplish. An and I asked them coming in and mean wants us in going through. Your scenario and an animal take a look at what makes the most sense for yourself. When I first started in the business I mean I know dirty you know people watch Suzie Orman a lot on PBS and and her whole spiel was too is to buy term. In invests the the difference Sunni which a lot of people have heard and you know sounds like down makes sense and I I guess is there is two things one are you gonna actually. Invest their their innocence and then also what's that gonna do more rewarding invested in. So let's say we buy term and invest the difference in the markets flat or down for the next ten years and then you pass away. Yeah I mean so so it depends on on how bad investment does. But I I I'm a fan a permanent insurance. I've done a lot of larger estate planning cases I've helped a lot higher net worth individuals build a tax free retirement. Using some index universal life plans. And so it really depends on what you're trying to accomplish. You know there's some great long term care. Policies that are built in the life in communal life insurance long term care kind of combination that's exactly were browsers and yeah there's there's no life insurance is come along way. And and we can go through all those different options for you but you think about you know I it's is that healthy wealthy in the why is that typically use. Life insurance I mean that's part of the reason the rockefellers in the Disney family in the you know these these super super wealthy people. They pass on assets in these idealists are these your multiple life insurance trusts onto the next generation and the next generation. In it's it's an explosion of tax free money. I mean it's it's just so so arm I'm a fan life insurance I'm a fan of annuities I'm a fan I'm saying the word guaranteed. And insult. You know come in and and let us go through your scenario and end all last year though there's who's the what's the wise the winds that house. You know what's this for wire we wire we do at this point exactly and I think that's the key. It's important to understand. All of that you know don't want to lie in the house. What are we using them wire reusing it and how's he gonna benefit me. Yeah and and Liz we always say we we love educating so when you come in and you sit down with this you are gonna understand the what the line now. So gives call for that no cost consultation. Get all of your answer your questions answered so that you have an understanding of what why and how it. Everything is in your portfolio and as a gonna benefits you so that number against 3033060105. You can give us a call. Morning new overnight we will return your call as soon as possible this is the ultimate retirement plan and show and we will be right back. The market is that record high spoke Kool knows how long that will continue so that white. Savings rates are still relatively low in the bond market continues to hover around all time lows. According to bank Tree.Com the average national rate for money market accounts is under point 5% and by your CD rates are 2.2 2%. So what are the other options if you were looking for a solid interest rate with out the downside risk of the market. How about a fixed annuity that pays a guaranteed rate of 3.2 5% for five years with no fees an optional interest payment second start after only thirty days. This is one of the highest rates available today called third tax advisory group today at 3033060105. To learn more about this fixed annuity that guarantees 3.2 5% a year for five years. That's right 3.2 5% guaranteed for five years health care tax advisory group today at 3033060105. Welcome to the ultimate retirement planning children have questions about retirement get all your financial questions answered right now by calling 303. 3060105. On. And miraculously into the offer parents planning showed give us a call at 3033060105. Israel's three. 3060105. So let's continue our discussion life insurance and you guys provided some great insight and you know we only have an hour. Sell so there's so much more information that we could share with you about life insurance. That we just don't have time to do the best thing is is if you. Are concerned about some of the things we've talked about this is senate appointment with. Our office and we will take it from their big guy 61 question we often get is okay come about through retired. And they you know I have life insurance and I have. A new mideast is there one that's better than the others should I get rid of my life insurance to them and then over ten and nudie. What are some things I should be thinking about when it comes to the two types of assets. Well also. That means a lot of times people people think of life insurance and annuity cannot under one umbrella and then on there and their completely different animal so I mean one is. And annuity is is more its investment based its. You know there's guarantees there were not gonna lose principal on and there's a lot of different types of annuities as a lot of different types of life insurance but for the most part. An annuity is going to be some sort of living you know investment vehicle from a or four yes so. It you can take your 401K money for example and roll that into an annuity where you can't roll it into a life insurance policies of a life insurance is really more for. This is this death benefit is it's more of it it's more for for risk management is you know some estate planning some long term care plan and it yup. There there are similar in their. A whole life insurance company. Is the one that issues both of them. But the but there are a lot different in. Incense of of what we're gonna use and for what and for Y and mean at the end of the day it just it makes sense to come in and talked to us and in the old guy G in the right direction. And talked to about the different types of annuities a different types of life insurance policies and maybe neither one of those make sense for maybe it boasted. Maybe they both do their exactly. They're over there for those individuals that have been paying on those whole life policies for however long no legacy of a McEnroe tell them to stop paying a premium you know. So but if you're looking tailored to make an investment he won a safe reliable source than. An annuity is a great option for you. And of course as with any. Product there are good and bad. But that is why we as independent agents shop the market for our clients. We we'd look for the very best rate of return the most solid guarantees and and the ability to. Pay a lifetime's dream of incomplete so. Let's let's do we can to mitigate the restriction currently taking let's take a look at the need for life insurance or they need forward. Additional income that can be provided from an annuity more even from some life insurance products but again life insurance. Is not an investment it is for the death benefit it is for a state planning is. For protection. And annuity is an investment product that is there to help. Provide safety growth and income so it could be the need for both could be bitching may not meet Arthur looked. Those or the answer is that we will determine when we get through the question. Absolutely yes so men and let's answer all those questions and let's determine your goals and objectives and in your true risk tolerance. But I am is so if you come and meet with us. Or you just going and you meet with someone that that is just that if I'm an insurance salesman did the differences there just there to sell you insurance and were here as. Fiduciary is where we're gonna tell you here's here's what we can do for you here at what we can. You're this is the best plan for yet friars and you maybe need to do any maybe you don't maybe it does manage money portfolios again. Maybe he also will show you the options were were not here to just sell our product to yet. We're gonna show you what's out there showing how it's gonna benefit chipped in and here to help you build a process. Process. Depp who's got a lot to add to elect. You know that word fiduciary is most commonly applicable in the investment world right newsroom and because the SEC requires it. And the volunteers fiduciary. The our responsibility. Is. A used to have a certain standards. And you know where in hot water if we're not making decisions that are reindeer who best interest now. There could be some disagreement in the decisions but you know we do the best we can to make the recommendations that area near best interest. And where I'm going with this out eventually get there it is that that standard I mean we try and we apply across abort and everything we gave. So correct me if I'm wrong but I don't think there's some this year he standard with respect to. Offering. Life insurance products and there's no I am with respect to offering annuities. And that's what I love about us is that hey you know. I sometimes you know. Who see it eat it he may have to tell someone. Something that they may not want to hear. Because it's in their best interest I mean there have been people that have come to us that. Has says hey I want to do something with these guys and we're saying you know what. Based on years' circumstances. As a right now it would not being your best interest to do this and then you know what that's done an aspiration away. Business but it's in their best and that's her. Doing the right thing we're not gonna take on more risk than somebody should take me. Hindering I just always operated under the and it just do the right thing for people do it comes back tenfold and in you never have any issues minutes. Doing the right thing so yeah. All right. We only a few minutes left restaurant. Oh well it all starts with her having a solid foundation radio let him know command and when you're looking tour to establish their retirement income that foundation. Is the guaranteed streams of income that you're gonna receive correct correct so. How do you start that well first you want to be educated so. We provide educational workshops to help people understand how to best Max my Social Security benefit. The foundation of the successful. Retirement who okay. Is to make sure that you are able to maximize your social security and get the most out of it as possible. Unfortunately two out of every three people taken early retirement benefit financial security which locks them into a reduced benefit for the rest of their life. So if you have the information and you understand how I was going to affect your your overall needs you can then make the most. Educated decision on on filing for that benefit right so we do have three seminars coming up for the month of July. Now we have this summer are being held at their Ross university hills branch library. On July 10 which is Tuesday in between 600000730. PM. Again we do have the second seminar of the month which will be held on Wednesday July 18. At 630 to 7:30 PM located at the roster cherry creek branch library. And then last but not least we have our third seminar for the month. Of July which will be held on. Thursday July 26 and again between 63730. PM so loud you'd better time to get off work and won't get to two location. Give us a call in Norris BP because seating is limited. But again this is a very very powerful some are you gonna learn and understand how to to maximize Social Security benefit. And again we'd love educating people so give us call it an RSVP for the seminars at 3033060105. Ladies and gentlemen it's been a wonderful morning and we look forward to seeing each and every one of you. And hope you have a wonderful weekend this is the ultimate retirement plan and show. Take care.
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