Scary Retirement Mistakes and How to Avoid Them

10.31.25: Audio automatically transcribed by Sonix

10.31.25: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker1:
Any examples used are for illustrative purposes only, and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment, and is not a solicitation or recommendation of any investment strategy.

Speaker2:
Welcome to Retirement Results, the national radio show and podcast for listeners like you who want to protect and grow their hard earned money in a world filled with so much uncertainty and financial risk. We seek to cut through the noise and build successful plans for hard working Americans on their road to financial freedom. Retirement results is powered by Active Wealth Management, a team of fiduciary advisors who always place your needs first and now your host. He's a registered Social security analyst, member of the Forbes Finance Council, and author of multiple books on retirement planning. Here's your chief financial adviser, Ford Stokes.

Speaker3:
And welcome to retirement results. Result drivers. I'm Ford stokes, your chief financial advisor. We got Sam Davis here with us. He's our senior financial advisor and co-host on the show. And he's been this way for over five years. We've been on the radio with you almost six years, and we are super excited to be with you here this weekend on Am 920. Answer. And Sam, it is fantastic. All the momentum that we've got going with our Retirement Results podcast as well. With over 15,000 downloads in the last few months, that's fantastic. Um, all the subscribers, thank you. And I just want to take time and say thank you to the listeners at Am 920 answer for making us the number one listen to radio show for the last five years on Am 900. The answer on the weekends. I want to clarify that. I also want to thank Charlie Kirk for endorsing and in his beautiful wife. I want to thank him for endorsing us for a few years while we were on this radio network. Um, big deal. We'll have a Charlie Kirk quote today as well. But it is bittersweet because this show is the last show we are going to do on Am 9 to 1. The answer we love, Am nine to the answer we love our Am nine to the answer family, our family. But it's on the Am dial. We're just seeing fewer and fewer people calling us and responding. And we felt like it's just more important for us to focus our efforts, um, on our podcast, because our podcast continues to grow. We're we're trying to get there. And, um, Sam, for the last and final time on Am 920, answer. Say hello to the folks.

Speaker4:
Welcome to the weekend result, drivers. Thank you for tuning in today. Thank you for tuning in all these years. And we're not going anywhere. We may be leaving these airwaves, but we're still going to be here. We've got multiple offices in the Atlanta area. We're happy to serve you. Whenever people call our office, we either pick up the phone or if we're not able to pick it up right away, it's because we're meeting with someone else and we'll get back to you as soon as possible. We love hearing from everybody over the years, so many great connections. Um, for just, you know, thinking of all the people we've been able to help prepare for retirement, help get to retirement, and you build relationships with these people and it means a lot. So thank you for listening. And we're going to bring you some great information today, like we always do, and just encourage you to subscribe to the podcast. Just search retirement results. You can go to retirement results. Com you can go to our practices website wealth.com. You'll see all the information there. There's a link. We'd love to hear from you. So keep listening. This is our last show, but we're still going to be here in Atlanta and we can't wait to meet you too.

Speaker3:
Yeah, we'll be doing podcasts each and every week. So make sure you, you kind of bookmark, um, retirement results.com in your browser, but also just go to wherever you get podcasts. Just search retirement results. You'll be able to listen to our podcast. Um, we've also got we're going to have newsworthy, um, events and all those things going forward on the Retirement Results podcast, but also, um, want to go ahead and share a few things about what's going on, um, in the markets and what's going on in this world these days. Number one is we have a cost of living adjustment that is 2.8% that came out on the 24th of October and just wanted to say that's at least decent news for Social Security recipients. As a registered social security analyst, we're always staying really close attention and highly focused on what that cost of living adjustment is for Social Security recipients. A couple of questions that we're getting about the Cola. Listen, if you are thinking about delaying Social Security benefits, but you're still Social Security age eligible, say you're 62.5 or older, you still are going to get that cola, because the more you're deferring that, you're not losing that cost of living adjustment. It's just going to show up in more dollars for you later each and every month when you delay your Social Security income benefits. Let's say if you want to make it to your full retirement age or even after, and reminder for everybody each year that you defer and withdrawals and defer starting your Social Security income after age 67, that's 8% more you're going to get each and every month and each and every year.

Speaker3:
If you let's say you go to 68, that's 8% higher. If you go to 69 years old, that's 8% higher. If you go to 70 years old, that's 8% higher. So that's 24% higher. If you defer withdrawals to age 70, a lot of people politically are like, oh, I don't know if I'm ever going to get enough. Social security is going to be around, it is going to be around. I have high confidence that obviously the, um, you know, the the trust fund is, is, is actually getting depleted. Looks like it's going to be depleted by 2034, 2035. But the the Oasi Trust Fund, the old Age Survivors Insurance trust fund, that is going to if it if it gets depleted, it'll reduce benefits across the board right around approximately 23 to 24%. You're not going to lose 100% of your Social Security income payment. I will tell you, in 1950, there were 15 workers for every Social Security recipient. Today, there's 2.6 workers for every Social Security recipient. And going forward, it's looking like it's going to be something like in the neighborhood of 2.3 starting in 2030, for every worker, for every Social Security recipient. So just wanted to say count on security being around. It may not be. It may be it's 76% of where it is today. But cost of living adjustments may be reduced. But right now it's a 2.8% cost of living adjustment. Do we own this show? Think that it's keeping up with the pace of inflation? No we don't, but it does help. So just want to make sure we share all that information today.

Speaker3:
Also the fed cut interest rates another 25 basis points. And we've seen a lot of ripple effects from that. It's great news that the fed cut rates uh the stock market responded positively as well. And again we do tactical asset allocation management and also strategic asset allocation management with our client portfolios. Um, so you're not just hanging in there. And we're we're trying to make sure that you're well diversified. And we're also trying to reduce your standard deviation, which is a measurement of risk. And also we try to keep the advisory and portfolio fees and the expense ratio down for you as a client of active wealth management. Reminder that the advisors with Active wealth management, we are the ones who power retirement results and we're powering retirement results podcast. And we've retired. We've powered this retirement results radio show for the last six years. Um, we were on Wgst for a little while, and now we've been on Wpgc for, I don't know if it's over five and a half years now. And so we're really thrilled to be here with you. It is very bittersweet. We're we're going to miss our family at Am 912. The answer? We just felt like it was best for the clients at Active Wealth Management and the people were going to meet in the future for us to focus our efforts on our digital platform and also on our podcast platform, we've only got three minutes left in the segment, so we want to go ahead. Sam, why don't you share the event we've got? At the Hampton Park Library in Forsyth County on November 10th and 17th.

Speaker4:
Yeah. This is another way that we've been getting out there in the community, these free educational workshops for mostly pre-retirees, but we have some early retirees who join us as well looking to optimize their plans. This one's going to be all about maximizing your social Security benefits for Stoke's registered social security analyst will be presenting that Social Security portion of the presentation Monday, November 10th and Monday, November 17th at the Hampton Park Library, both of those at 6 p.m., so seating is limited. If you are interested in getting on that list meeting us in person, we'd love to help you prepare for retirement a little bit better. You can actually give us a call and we can get you on that list if that's something you're interested in.

Speaker3:
Yeah, just give us a call at 8517777706851777 to register for that great seminar that's going to be at the Hampton Park Library in Forsyth County, Georgia in Cumming, Georgia, uh, starting at 6:00 pm. Space is limited. We we usually get about 40 or 50 folks in there, and it's a pretty big room. But, um, we would love to talk with you and hopefully better educate you on how to maximize your Social Security, how to build that retirement income that's greater than what your monthly expenses are going to be in retirement, and also protect and grow your hard earned and hard saved wealth. So you basically will see that your money will outlive you, not you outliving your money, which is one of the greatest fears that retirees have. They don't want to run out of money. So we're here to help you. Just give us a call at (770) 685-1777. Diana and her team are standing by to take your call. Um, we'll also call us during the week, and we'll get you registered for that seminar? All you have to do is give us your name, email and phone and we'll get you going on that. And you can also send me an email at Ford at com. That's f o r d at active com. I only got 30s left in this first segment of our last show of retirement results on Am 920. Answer. It's been so great being here with you. The next three segments we're going to talk about financial frights, the scariest retirement mistakes. We're going to make sure you don't outlive your money. We're going to help you stop ignoring taxes. And we're also going to make sure that you don't forget about health care costs. And we're really going to share all the real horrors that are hiding within your retirement plan and how to solve that. So you don't have those nightmares. You've got nothing but dreams and retirement dreams during your retirement years. Come right back. You're listening to retirement results on Am 9 to 1.

Speaker2:
The answer don't go away. Retirement results will be right back to schedule your free no obligation consultation, visit. Retirement results.com. You're listening to retirement results. And now back to the show.

Speaker3:
And welcome back. Result drivers to retirement results on Fort Stokes. Your chief financial advisor. Got Sam Davis here with us on the mic. He's our co-host and senior financial advisor with active wealth management. Again, reminder, uh, that the advisors with active wealth management, the ones that power and present retirement results for everybody. And as we do every week, as we promised to do every week, uh, and we're doing a pretty good job at doing this every single show we do. We're going to have a Charlie Kirk quote. And this one is about on socialism, what we've seen in the markets and what's going on with ET with the electronic benefits transfer. Um, these for food stamps and with, you know, the government shutdown and those being cut off on November 1st. Um, and it's interesting to see the Democrats trying their best to point the finger back at the Republicans, which clearly is not working. It's this is the Schumer shutdown. This is Democrats shutdown. They own it. And, um, I was shocked to see that there's over 42 million people on EBT. And I was also shocked to see that it was over north of $3,000 a year, a month that people are getting when the average Social Security check is $1,200. So here's what Charlie Kirk says. Socialism puts people in poverty. Capitalism gets them out of it. That is from Charlie Kirk.

Speaker3:
We honor Charlie Kirk. I cannot believe he is. He was taken away from us. Can't believe all the horrible people that celebrate his assassination. I just can't believe it. And, um, Charlie, we love you. And we hope the best for your wife and kids and, um. And hope they live to be have happy, helpful, fruitful lives. And, um, hope your kids really make a difference, just as you did. So we were talking also that. Yeah, we had the government shut down. It's gone on 29 days, ten hours and 56 minutes as of the recording of this. So it's it keeps going. Um, and the longest shutdown was 39 days. So I think we're going to probably surpass that unless, um, there's enough panic in the streets. I would also encourage people to be careful when you're going to the grocery store or to Walmart, because I think there's going to be a lot of backlash for people that don't have their EBT this month. And I think there's looking like there's going to be looting and thefts and and even there there's things on acts that are talking about trying to just steal from white people, which is awful. And, um, you know, we're we we darn sure want to support every single American, regardless of race, creed, color, religion, national origin, and, um, you know, please, please, please, y'all treat each other well out there.

Speaker3:
That's all we're asking. Um, but let's be careful. Please. Let's be careful out there. Um, hopefully this gets resolved soon, so that'll that'll be great. I'm excited that, um, that the fed did drop rates a quarter of a percent. But what that did is it also created a ripple effect in the fixed indexed annuity market, where annuity carriers are dropping rates very quickly. If you want to get the best rates, you really need to act and give us a call this weekend and or Monday at 06851777 because rates are going to continue to go down. And as they go down, the the annuity companies are going to reduce their rates. Here's how fixed indexed annuities work. They take 100% of the money you give them. And they put it into the ten year US Treasury. So your money's not invested into the financial markets. Your money is invested into the ten year US Treasury. Then they take the interest that's generated month over month, year over year from those ten year US treasuries. And they invested into options in underlying indices. Rates are being cut by annuity companies across the board, and the nationwide peak ten is looking to cut rates. And in there in that product nationwide is looking to cut rates in the peak ten. You really need to give us a call. And for every time the fed lowers interest rates, they're going to lower their rates because they're getting less interest off of the ten year US treasuries they're going to invest into your product.

Speaker3:
Again, reminder that fixed indexed annuities and life insurance, they are regulated by the states. And the states have to balance their budgets whereas the federal government doesn't. So they must put 100 pennies of the 100 pennies you give them in every dollar you give them. They must put that into the ten year US Treasury. They can't go and invest in mining stocks or casinos or anything like that. So I would encourage you to consider calling us so you can get 25% immediate bonus on your money into the income account. Also, you need to call us to get 8% guaranteed interest each and every year into the income account. This was the nationwide peak ten, and that's averaging 295% up to 310% participation in the underlying index, which is the BNP Paribas Global H factor index. So I would encourage you to reach out and give us a call and take advantage of these high annuity rates, because they're going to go down as the interest rates go down. Call us now (770) 685-1777 or visit retirement results. Com. Again that number is (770) 685-1777. Was replaced the bonds in your portfolio with fixed indexed annuities. Give us a call today.

Speaker5:
And now for some financial wisdom. It's time for the quote of the week.

Speaker4:
This one's probably one of our favorite quotes that we have ever shared in this segment on the show. Ford. And you've likely heard it before, but Warren Buffett once said, rule number one is never lose money. Rule number two is never forget rule number one. And I think this is a great opportunity with markets at or near all time highs. If you're someone who is preparing to retire, even if you are a few years away from retirement, why wouldn't you take a portion of your portfolio, lock in at or near all time highs, and take advantage of some of these great features that companies like nationwide are offering? Ford. You mentioned a 25% immediate bonus. They also have an 8% interest roll up every year. You defer taking withdrawals up to ten years. That ends up being some fantastic growth and a great income source that you can count on in retirement. Anybody who's interested, Ford, you mentioned it. You know, now's the time. With rates headed down, nationwide has already announced that they're going to be lowering rates in November. We expect other highly rated annuity carriers to follow suit. And so this if this is ever something that you have been considering for your retirement, now would be a really good time to get in touch with us and see what some of these products, some of these solutions would look like inside of your portfolio.

Speaker3:
Yeah, we can run. Also, if you're thinking about a lump sum pension, And now's the time to consider doing that as well. Um, what else is great about doing these types of, of, um, of applications is you've got 60 days to fund it. So if you want to get going now and you want to say, okay, it's going to take me a little while to get my money together, or I'm going to roll money out of my 4k into an IRA. Great. We can do that. We just have 60 days to fund the actual policy. The fixed index annuity policy. Another reminder to is, let's say on the nationwide peak ten, if you defer four years, it's like you're going to get somewhere between 8 and 12% of your money each and every year, guaranteed for the rest of your life. We we look to just almost defer four years in a day and take it like on the the first day of year five, and you can see significant growth. The other thing, Sam, that you've written a lot of business with a lot of younger people, folks that are 45 years and older are buying that nationwide peak ten, and folks that are in their 30s or buying the Aspida synergy choice Max and Synergy Choice bonus.

Speaker3:
Um, these people are deferring for many, many years. They want to protect their the income portion of their portfolio, and they're super excited to do it. And we're seeing significant illustrations where the income level is really high during retirement and they're super happy with it. And it looks like based on the illustrations that the growth outpaces the withdrawal rate. So therefore you have money left over to give to your heirs as well. All right. So we come back from the break. We're going to talk about the three scariest mistakes of retirees. We're also going to do an inflation demonstration. And the curse of the shrinking dollar will continue to talk about a market update. And beware of the volatile market monster out there. You're listening to retirement results right here on Am. Time to hear the answer. Make sure you are searching for retirement results wherever you get podcasts.

Speaker2:
Retirement results. We'll be right back. Schedule your complimentary retirement consultation. Visit. Retirement Results.com.

Speaker6:
Spooky, scary skeletons send shivers down your spine. Shrieking skulls will shock your soul. Seal your doom tonight. Spooky, scary skeletons speak with such a scream.

Speaker1:
Do you want a steady stream of income for retirement? Then it's time to consider annuities. I'm Matt McClure with the Retirement Radio Network, powered by Merrill Life. Gone are the days when most employers offered pensions with guaranteed lifetime payouts to their workers. But what if I told you that you can build your own personal pension? It's possible with an annuity. An annuity is a financial product that provides a series of regular payments to an individual over a specified period of time, often for the rest of their life.

Speaker3:
There are several options for you to consider when choosing an annuity. Be confident in knowing that there is an annuity out there that can meet all of your needs.

Speaker1:
Fort Stokes is founder and president of Active Wealth Management and author of the book annuity 360. There are several different types of annuities, including fixed, variable, and fixed indexed.

Speaker3:
A fixed annuity offers a specific guaranteed interest rate on their contributions to the account. A fixed indexed annuity is an accumulation based product offered by an insurance company. The growth of your fixed indexed annuity is dependent on the performance of a chosen stock market index, but your money is not actually invested in this index. This offers you great growth potential and exceptional protection for your investment.

Speaker1:
While each can provide tax deferred growth and a lifetime income stream, variable annuities put your principal at risk in the market.

Speaker3:
If you are currently investing in a variable annuity, your funds could be in serious trouble if the market experienced any downturns.

Speaker1:
With so many possible choices to consider, it's essential you speak to a financial advisor or professional to help you make the best decision for your future. So are you ready to consider an annuity as part of your retirement plan? It's a key question to consider as you approach what should be your golden years with the Retirement Radio Network, powered by Amera life? I'm Matt McClure. Fixed annuities, including multi-year guaranteed rate annuities, are not designed for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.

Speaker2:
Get started on your free portfolio analysis and financial plan right now by visiting Retirement Results.

Speaker3:
Com and welcome back to Retirement results. I'm Fort stokes chief financial advisor. Got Sam Davis here with us on the mic. So Sam we're going to talk about the three scariest mistakes of retirees. Uh we'll face these big fears longevity, health care planning and the tax goblin. Let's get into it.

Speaker4:
Yeah. The first one is outliving your money. Often we see this cited as the top fear of retirees or anybody preparing for retirement. You know, it's such a concern because of a few reasons. You've got longevity risk. Americans are living longer than ever. That's the good news. The bad news is, now you have to figure out how to fund your retirement for even more years than your parents or grandparents did. You know, nearly half of Pre-retirees today are likely to outlive their savings. Just meeting with an advisor, working with a fiduciary, and getting a solid income plan in place that works hand in hand with your Social Security benefits. You know, that's really one of the biggest things you could do to prevent longevity risk from impacting your retirement. You know, it's also a concern because of rising expenses. You know, over the last 5 or 6 years that we've been doing this show for, we have seen costs of everyday things that, you know, these are not discretionary expenses. These are things we have to buy. These are our groceries. This is what we're paying at the pump. This is our energy bill. Every month we're continuing to see things like this go up. Um, talking about healthcare, you know, those costs have gone up.

Speaker4:
Home repair costs have gone up. Um, so just everything is becoming more expensive. And these aren't things you can control, like, you know, maybe airline or hospitality or vacation costs going up. These are things you've got to buy, even if you're just sitting at home in retirement. Also, there's a lot of folks that are underestimating how long they're actually going to be retired. You know, a lot of people say, you know, hey, I'm not going to live into my 80s or 90s. I really just need this money to last for maybe 15 or 20 years. You know, we'd really beg you to reconsider. And also keep in mind, you know, Ford, this is a big thing when we're working with couples, making sure that both the husband and the wife, both spouses, are going to have income that lasts as long as they do. In many cases, it's only one of the spouses that's doing the financial planning. One of the best parts about working with a fiduciary or working with licensed advisors like us, is getting on the same page. Sometimes we're seeing couples get on the same page financially for the first time, and you want to make sure that whichever spouse lives longer, that they're going to be taken care of, too.

Speaker2:
It's time for this week's Problem Solver.

Speaker3:
We've got a couple. Uh, his name is John and Joanna. We're going to protect the innocent here and change their names. So it's John, and Joanna is our is our changed names. So John 66, Joanna is 60, and they've he's a construction guy. He's put a lot into his business. And, um, he is. They've been able to save about $800,000. They they felt like they could have saved more. Um, they they've been able to own their house. But John was he he continued to work. He loves working. But what he decided to do was he's like, you know what? For her, for Joanna, what I want to do is I want to take half of that money, take $400,000. I want to put it into the nationwide peak ten, and I want to generate significant income. But I wanted, you know, we I'm going to work at least another ten years. Things are going to work until he's 76. But he said, you know what? We'll turn on income in year six. So what's interesting is they're going to put $400,000 in. And starting in year six, they're going to generate over $48,000 a year guaranteed. And and that's a joint payout. Um, it's going to ensure both of their lives. Make sure they don't live too long. And she's super excited about it because that plus the Social Security income, they're going to be making over $80,000 a year. Um, even if even if he passes away, she's going to have enough money to live on. They took 50%, and that's what they kind of thought really made sense. So I would encourage you to consider doing something similar. Take 20, 30, 40, 50% of your assets and put it into products like the Nationwide Peak ten or the Aspida. And let's see if we can get things moving in a better direction for you so that your retirement is guaranteed. That's just the way to do it.

Speaker4:
Yeah. So from longevity risk to the next major concern or fright in retirement is health care costs. A healthy 65 year old couple will need about $330,000 just to cover their healthcare expenses in retirement. That's according to fidelity. Understand that Medicare doesn't pay for everything. So once you turn 65, you are going to be eligible for Medicare, that healthcare coverage from the government. But dental vision, hearing aids and most long term care, all of that is going to be out of pocket. And that's not to mention co-pays and all the other ways that Medicare can really creep into your budget. Also, long term care shock. A private room nursing home now averages $110,000 per year. Assisted living in your own home exceeds $60,000. Those figures are from Genworth. We're also seeing medical inflation running about 5% annually. This is far above the typical retiree budget increase. We just saw a cost of living adjustment forward that was not close to 5%. So just keep in mind that things are going to get more expensive, especially those healthcare costs. And when you get older, as you get deeper into your retirement, you know, going to those doctor's appointments, that's going to be more of what you do as you try to stay healthy and active and maintain your lifestyle in retirement.

Speaker3:
Yeah, for sure. And we we just got to be really careful and make sure that our retirement income is greater than our expenses. Let's try to start with that retirement income surplus, not a retirement income gap. And we do that retirement income gap analysis. And hopefully you start with a positive gap not a negative gap. And all you got to do is reach out to us at (770) 685-1777. Again (770) 685-1777. We're happy to help you. And you can also just reach out to us at Retirement Results. Com click that schedule a consultation button in the upper right corner and we look forward to meeting with you.

Speaker4:
Yeah, and I love the way you put that forward. I think that's a great way to think about it. You want to have that income surplus mindset. And that's how we get people started when they're working with us. You know, step one is getting that Social Security maximization report, figuring out what your benefits are going to look like if you're married, figuring out when you're going to turn on your benefits, when your spouse is going to turn on their benefits, and how they're going to file that decision can be tricky. The timing decision can be tough. It's not always clear, you know, should my spouse file for spousal benefits? Should they file for my own? If you were married before, there may be other factors to consider. There are so many decision points when it comes to Social Security, so we like to get that piece figured out first. From there, we take a look at the rest of your portfolio and consider how a pension or some personal pension options with highly rated annuity carriers like nationwide can add additional income to your retirement and really close that income gap. And that can really set the pace for your retirement lifestyle for, you know, people can look and be in their late 50s and say, you know, hey, according to this, you know, I can afford to retire when I'm 62 or 63. But they can also see, hey, if I work a few years longer, they can see the value and how that would add to their budget and retirement.

Speaker3:
Yeah, we want to try to spike, um, the money. It's nice to start with as big a number as possible, but also make sure that your monthly number is at a positive retirement income surplus. We got to make sure we get there first. Um, also, I had a guy that basically runs $1 billion, um, broker dealer. He told me, you know what? Stockbrokers were not very good at generating income. We're we can generate interest growth, and we can account growth, account value, growth, stock growth, ETF growth, mutual fund growth. But the problem is we have a low cost basis on these investment accounts, and then the client doesn't want to take out money and then pay the capital gains taxes on there. That also also gets matched up for their total income with their ordinary income as well. And because we're just not very good at it, because fixed indexed annuities are much better at it than we are, and I agreed with them, I think that is 100% true. Listen, I mean, we deal with a lot of portfolios. We do tactical management, tactical asset allocation. We do strategic management. We've we've got lots of portfolios. A majority of the money we invest in for our clients are in the market in managed portfolios.

Speaker3:
But we do like to take ten, 20, 30, 40% of their assets and invest in fixed indexed annuities to replace it. And the other thing they told us is you're literally reducing your risk by 75% of your overall portfolio if you've got an income source, that's guaranteed. And I thought that was really interesting coming from $1 billion broker dealer based in Florida that I talked to you this week. And he was a really interesting guy and former special forces in the Army. Um, it was just a privilege to meet with him. He and I had been on the same speaking panel. I just want to talk to him about it. It was really interesting. So, um, I would just encourage you to take the coaching from from people like. Look, stockbrokers are not necessarily the world's greatest at generating income during retirement. There's only so much you can do with dividend stocks and things like that. And you're and you're also not very tax efficient. Let's get money in at least tax deferred vehicles. Let's also consider deleting the IRS from our retirement accounts. Let's try to figure that out too by implementing a Roth ladder conversion. And let's kind of go from there.

Speaker4:
And when we come back forward, we're going to share a little bit of detail on that last retirement risk. That is tax risk. We want to make sure that you are keeping taxes in mind as you build out your retirement plan. Because just because you retire doesn't mean that taxes stop. We want to make sure that you're prepared, and you want to minimize the taxes that you do actually pay during retirement. You're listening to retirement results. Be sure to subscribe wherever you listen to podcasts, and we'll be right back on Am 920. The answer?

Speaker2:
Call (770) 685-1777 to schedule your free, no obligation meeting with us today. You're listening to retirement results.

Speaker7:
They're creepy and they're kooky, mysterious and spooky. They're all together. Ooky the Addams family. Their house is a museum. When people come to see them, they really are.

Speaker2:
Miss part of today's show. Retirement is available wherever you listen to podcasts and online at retirement Results.com.

Speaker3:
And welcome back. Result. Drivers to retirement results on Ford stocks are chief financial advisor. Got Sam Davis here with us. Our senior financial advisor and co-host, Sam. Uh, couple things. One, let's go ahead and let's plug our event over to the Hampton Park Library. That's going to be on November 10th or November 17th at 6 p.m.. If you want to register for that event, um, limited space, limited seats available. I'd encourage you to go ahead and reach out to us at (770) 685-1777. Sam is actually holding up the flyer as as I speak here. Um, and but you can go ahead and give us a call and we'll get you signed in. (770) 685-1777. And again, it's at the Hampton Park Library, November 10th or November 17th, where we talk about Social Security, how to protect and grow your hard earned wealth. We'll talk about retirement income, getting you that positive retirement income surplus, not a negative retirement income gap. And we'll also talk about, um, how to delete the IRS from being your partner in retirement with a strategic growth ladder conversion plan as well? Uh, it's chock full of information, a lot of which is in my Smart Retirement Plan book as well. If you give us a call, we'll we'll send you an ebook, um, of my Smart Retirement Plan book. It's chock full with 16 chapters. It's about a 50 minute seminar. So you're it's really easy to digest the information, and you'll learn more about retirement in those 50 minutes than you will any other hour ever you spent trying to learn about retirement. So reach out to us, come on out and hang out with us at the Hampton Park Library in Cumming, Georgia in Forsyth County, November 10th or 17th, starting at 6 p.m..

Speaker4:
Yeah, come and meet us. It's almost like a live version of the show. We get into different topics, we take questions and you'll have an opportunity to fill out a form and actually meet with us and start building your own retirement plan. So whether you're a radio listener or a podcast listener. We want to see you there. Give us a call and we can reserve a seat for you. Uh, Ford, before the break, we were talking about some of the most frightening risks for retirees. So we talked about longevity risk, the risk of outliving your money. We talked about how expensive healthcare costs can be in retirement and making sure you're prepared for that. And now we want to talk a little bit about taxes and what you can do to manage the IRS and kind of kick them out of your retirement plan. Uh, number one, keep in mind required minimum distributions. For most of you, that's probably going to be at age 73. This is when the IRS is going to compel you to start taking required minimum withdrawals from your IRAs, your 401. S any of those tax deferred accounts? Money's going to have to start coming out of there. And yes, you're going to have to pay federal income tax on those withdrawals. Also we're going to talk about this at the Hampton Park Library for Social Security taxation. Up to 85% of your Social Security benefits could be taxed, depending on your overall income level. Also, just keep in mind tax brackets and capital gains. You know, taxes can sneak up on you across your portfolio. And that's why we want to keep taxes in mind when we're planning for people's futures.

Speaker3:
Yeah. You want to watch that double taxation trap that you get. Also, when you draw from tax deferred accounts that can increase your Medicare premiums through Irma surcharges for your Medicare surcharges. They can also shrink your take home income. Um, the source on that one is Kiplinger. Um, it's that was a pretty good article on that. Also, just like we talked about. Watch that bracket creep. Modest investment gains or capital withdrawals can push you into higher taxed here without warnings. We'd rather see you go into a higher tax bracket implementing a Roth ladder conversion plan. Because at least you're getting the benefit of deleting the IRS from your retirement accounts, we can help you do that over a 5 to 10 year period. Usually they're about 5 to 7 years. Want to try to get out of your IRA, um, money if you can, or as much of it as you can before you turn 73, because your Roth ladder conversion withdrawal or that that Roth ladder conversion for that given year does not count as your RMD. So you're going to have to take your RMDs in addition to Roth ladder conversion any year after age 73. So let's do a better job with that as well. Go ahead and reach out to us at (770) 685-1777. And we can help you with all of this.

Speaker4:
Yeah. Foreign with just about five minutes left in this week's episode, I think it would be great to share what listeners can get when they get in touch with us and start working with us. Whether you are a radio listener, a new listener. You've been following us for years, or you're a podcast subscriber. We want to meet you and see how we can help you make some smart adjustments to your retirement plan. So, Ford, after people get in touch with us and schedule that first appointment, what do they get?

Speaker3:
Yeah, that's what happened. So you're going to sit down with us, you'll bring in your statements and also have an idea of what you're spending in monthly expenses now, and also what you're think you're going to spend during retirement. Um, it's a good place to start. Um, also, we'd love to know what your income is now when you plan to retire. Um, you'll also bring in your, um, or your email list, your Social Security XML file so we can plug in for you and your spouse into our RSA roadmap software so you can get that registered Social security, um, analyst roadmap. So that way you can get that Social Security maximization report. We take your top 35 earning years. So you get an understanding of hey, what is my Social Security look like and when do I plan to take it and how can I maximize that. So that's that's a really good one. You bring in all that stuff, you give us that, all that information. Here's what you get. You're going to get number one, a portfolio analysis that is going to help you understand the risks you're taking, the fees you're paying and the correlation of your assets. And also part of that we're going to do is we're going to measure your standard deviation, which is a measurement of risk. So how much is your is your are your investments deviating off the mean. So we're going to help you there.

Speaker3:
And then we're also going to give you the correlation of your assets. So you understand okay your take your top 20 holdings. Compare them to each other. And when one moves what happens to the rest of it. Then we're also going to give you a financial plan. Your 95th birthday. That has nothing to do with us, just your current plan. Then we're going to give you a financial plan, your 95th birthday with our recommended portfolios. That also includes a Roth ladder conversion plan. Then we're going to give you an RSA roadmap number for RSA roadmap. And number five is we're going to give you a retirement income gap analysis too. Also a reminder for everybody if you are thinking about taking a lump sum pension or if you want a pension, x ray or an annuity x ray, or you hold a variable annuity or an old annuity, I would encourage you to reach out to us. Also, there's been a lot of information in the news about index universal life policies. You could be in an index universal life policy that needs to be converted or moved over. I encourage go ahead and encourage you to reach out to us at retirement. Com forward slash plan. That's retirement. Com forward slash plan. And we'll get we'll call you and get started right away. And now for our final final countdown.

Speaker8:
It's the final countdown.

Speaker2:
So let's recap what you may have missed. It's the final countdown.

Speaker8:
The final countdown.

Speaker3:
Sam, and I've really enjoyed being with you over the last five and a half years. We really feel like it's been an honor to come through your radio. It's been an honor to work with our Am 920 answer family. Times are changing. We are moving on to the digital age and just going to focus on our podcast. And we think that's going to net us great results. Sam, it's been an honor and a privilege to be a host with you. I met you at Wjcc. It's it's been remarkable to see your growth as you've become a senior financial advisor with our firm and how many people you're helping. And I just want to say thank you to you for everything you've done for the for our listeners and for our prospects and our clients as well.

Speaker4:
Well, thank you for that means a lot to hear. And it's been a pleasure. It's been so fulfilling working with everybody who's gotten in touch with us. And I can't wait to work with the next person who gives us a call. It's really just one of our favorite things to do is help people not just get to retirement, but through retirement. And our goal with this show is to is to help more people do just that. And thank you to all the listeners. Be sure to take a note or right now, go to your favorite podcast app, find retirement results. Give us a follow. We're going to keep posting content there and we look forward to hearing from you.

Speaker3:
Yeah, we on this show, we we also heard from Warren Buffett. And don't forget two rules of investing. Number one is just don't lose the money. And number two is don't forget rule number one. Um, that's a big deal. Uh, again, shout out to Charlie Kirk and his family. Thanks so much in heaven, Charlie, for endorsing this show and endorsing us, um, for several years on. Am not sure the answer. Um, we are going to miss you for sure. And lastly, I would just say this if you're gonna if you're thinking about retirement and you're seeking as much information as you can, if you're going to be a bear, be a grizzly, be aggressive about seeking information. Make sure you're listening to retirement results, the podcast, and no matter what. Have a great retirement everybody. We love you. And and we've really enjoyed being with you the last five and a half years on Wjxx and 912 the answer Sam and I are signing off on retirement results for the last time on Am 912. The answer Wjxx have great retirement everybody.

Speaker2:
Thanks for listening to retirement results. You deserve to work with an independent team of fiduciary advisors that will strategically work to protect and grow your hard earned assets. To schedule your complimentary financial consultation, call us now at (770) 685-1777. That's (770) 685-1777. To connect with a qualified advisor. To learn more about our mission and our team, visit retirement Results.com. Investment advisory services offered through Brookstone Capital Management, LLC, a registered investment advisor. Bcm and active wealth management are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents. Investments involve risk and, unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.

Speaker1:
Registered investment advisors and investment advisor representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interest of our clients and to make full disclosures of any conflicts of interest. Please refer to our firm brochure. The advertised item for. For additional information. Not affiliated with or endorsed by the Social Security Administration or any other government agency. Fixed annuities, including multi-year guaranteed rate annuities, are not designed for short term investments and may be subject to restrictions, fees, and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.

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