How We Help People Navigate Retirement Challenges

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2.21.25: 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 our tournament results. Result drivers I'm Ford stokes, your chief financial advisor. I got Sam Davis here with us on the mic. Sam is our senior financial advisor and radio co-host on the Show of Retirement. Results.

Speaker4:
Welcome to the weekend result, drivers. Welcome back to retirement results. This is your show. I'm Sam Davis here along with Ford Stokes. And just want to welcome again all of our new listeners on one up in Gainesville and all of our longtime listeners on Am 920. The answer out of Atlanta heard from a lot of you folks up in the Gainesville area, up around the lake, and just excited to be welcoming so many new listeners into the retirement results, family. And we invite you to reach out to us, and we look forward to working with all of you.

Speaker3:
Yeah, again, a reminder if you want to get in touch with us, you want to get that free portfolio analysis and financial plan, including an RSA a roadmap which is a Social Security maximization report? All of that? Absolutely for free. All you got to do is visit retirement Results.com. That's retirement Results.com. And you can click that schedule a consultation button in the upper right corner. You can also visit retirement results.com/plan. That's retirement results.com/plan. And you can put your information in. We'll give you a call and we'll get started right away. It's a $2,500 value absolutely at no cost to you. So we're here to help you get better at retirement, get better at investment planning, help you better protect and grow your hard earned and hard saved wealth, and also help you build that more tax efficient, fee efficient and market efficient portfolio. And in the next segment, we're going to give you a smart vision. We're going to tell you what we're going to talk about today. But in the next segment I'm so excited about it. I got to tell you right now, because we've got Andrew Lanahan with the PGA Tour Performance Center going to be with us at the beginning of segment two. And he's going to talk about how to get better at golf. A lot of you have got golf as your hobby, your number one hobby during retirement or even pre-retirement. There's a lot of golfers in Atlanta and especially a lot of golfers around the lake, and I would encourage you to stay tuned and listen to the entire segment to what we've got.

Speaker3:
Also, so many of you, we've had over 20,000 downloads over the last several months of our podcast of retirement results. And you can get that anywhere. You get podcasts, and hopefully you guys and gals can benefit from this interview with Andrew Lanahan. Andrew played for LSU. He played golf at LSU and he played. He played a few Nationwide Tour events that were then Nationwide Tour, but it's now the Korn Ferry Tour, and he's going to try out for the senior PGA tour, um, here in in seven years. He's 43 years young, but he's such a great, supportive golf coach and he's been my golf coach, um, almost for about a year now. And I went down to TPC Sawgrass on a vacation and was able to get a full day lesson with him and a playing lesson and everything. It was amazing. So I would encourage you to just stay tuned for that segment. Two if you don't play golf, it is just really great at giving life lessons to be able to stay tuned for that. But today we're also we're not just talking about how to navigate your golf game. We're talking about how to navigate retirement challenges. So we've got some smart strategies to protect your savings, your health, and your income. And on today's show we're going to talk about market volatility, how to protect your savings and your sanity, strategies to manage your portfolio during hard times, how to reduce risk and also how to protect retirement income. That's so important. We're going to briefly touch on the rising cost of healthcare and long term care.

Speaker3:
I'll give you a hint. So it used to be about 10 to 15 years ago. We used to work with like 120 different long term care companies. Today, there's only 12 long term care companies because the cost of long term care have gone up. Also, I will say this if you think long term care insurance is expensive, just wait till you find out how expensive long term care is. We also have some some information on rising taxes and the national debt and the US USA's bottom line actually affects yours and how it's getting better with everything over there at the Department of Government Efficiency. Thank you. President Donald J. Trump, thank you Elon Musk and the team for uncovering fraud, waste and abuse and taking that fraud, waste and abuse out of the system. But we want to help you understand how rising taxes RMDs can impact your retirement income and discover tax efficient strategies to minimize that tax burden. And also, we'll talk more about inflation playing for rising costs over 20 to 30 year plus retirement. You may be retired almost as long as you worked. It's probably hard to believe, but the CDC says you've got over a 50% chance that one of you is going to live to be over 90 years young, or what people would say over 90 years old if both spouses within a marriage lived to be 65 years old or older. Sam, why don't you go and share our financial wisdom? Quote of the week.

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

Speaker6:
This week's quote of the week.

Speaker4:
Comes to us from author Will Robinson, and Will Robinson said financial fitness is not a pipe dream or a state of mind. It's a reality if you're willing to pursue it and embrace it. And Ford, I love this quote from Will Robinson, because this is what we seek to help people do each and every week. We want to help people take that retirement vision. They have that goal to retire whatever it is that they want to do in their retirement and show them that they've won the race. This is not a pipe dream or a state of mind. We can help you get there. All you have to do is pursue it, you know, seek that information. We say a lot that knowledge is power. And we want to give you, the listener and our client, the information to make the best possible decision about your money.

Speaker3:
Yeah. I mean, we have so many people like, oh, do I have enough money to work with you, you folks? Do I have enough money to work with active wealth management? We are a private wealth management firm, and we really can't help just about anybody that's got $200,000 or more. Our average client is right around 1.2 million, um, or a little bit higher. And we're here to help you. Also, I will say this. If your money is important to you, it's important to us. And we know that money is important to you. You've had hard earned and hard saved wealth that you've built up over time. And we think it's high time that you get your money working as hard as you do, and also to try to do the smart things out there. Right. And so we want to help you do that. So but first let's go ahead and jump straight into this market volatility part of the show. I want to make sure that we're talking through that. So market volatility you want to kind of protect your your savings your principal and your gains. And also really get you more peace of mind with what Sam says is really you want to protect your sanity. The big idea here is you want to market volatility can be unsettling, especially when you're retired or kind of even close to it. I would say sudden market drops can force you to sell investments at a loss, jeopardizing your long term financial security. We really don't want you to do that. The key is kind of getting prepared in advance and also adopting strategies to safeguard your savings. So, Sam, why don't you go through these four ways to kind of deal with market volatility and to try to make sure you're protecting your savings and building that peace of mind during your retirement years?

Speaker4:
Yeah. Step one. And this really is how we approach it at active wealth Management. And that is invest for income. So we start to piece together the puzzle by looking at these different income sources like your Social Security. You know Ford you're a registered social security analyst. We have you run the report for the household, whether it be an individual or a married couple, will take a look at what that income is expected to be. We'll take a look at your pensions if you are fortunate enough to have a pension, most people do not, and so we can help you incorporate a personal pension into your plan. And that's all about making sure that your income is something that you can count on in retirement. It's not a what if you don't just have your money invested in the market, and your feelings are being affected by whether you're seeing green arrows pointed up or red arrows pointed down? So step number one is really invest for income. And step two is consider fixed indexed annuities for stability. These are those personal pensions. And these are not your grandparents annuities. Annuities today are much more efficient and even leave a death benefit for your beneficiaries once you pass away and go to heaven.

Speaker4:
Time. Step three is time segmented bucketing. So taking your assets and putting them into different buckets depending on when you need them, you've got to have that money in the bank. You've got to have those liquid assets for the emergencies or the things that come up. You know, maybe you need to get a new truck at some point in retirement, maybe you'll have a health care expense. And step four is planning for tax efficient withdrawals. You know, the IRS and the tax man, they're not going to go away. Once you enter retirement. So we want to make sure that we're mapping out a plan not just for your income in retirement, not just for those paychecks, but for your taxes as well. We want to minimize that tax burden. And for those are really four simple steps for people to consider when they're looking to protect their savings. I mean, as you approach retirement, you've saved more than you've ever had before, which means you have more to lose than you've ever had before. And that's why here at Active Wealth, we say protect and grow. And it starts with protecting first and growing second.

Speaker3:
Amen. And also, if you want to get this free report on the four ways to kind of handle market volatility, all you've got to do is reach out to us at (770) 685-1777. Again (770) 685-1777. Or you can just send me an email at Ford at Active Wealth com. That's f o r d at active Wealth.com and we come back to the break. We're going to have Andrew Lanahan with the PGA Tour Performance Center, who's right down there in Ponte Vedra, Florida, right next to Jacksonville, kind of in between Jacksonville and Saint Augustine, Florida, where they play The Players Championship at TPC Sawgrass. He's going to be here to give you really helpful tips on how to get better at golf. And also he's going to tell you ways to you can work with him on getting better at golf. I think you're really going to like this one. This is a part of our Smart Vision series for your retirement, and we're really fortunate that we can get a, you know, a PGA teaching professional here on the show as well. Be sure to come back and listen to this important interview. It's just a lot of fun, too, with Andrew Lanahan with the PGA Tour Performance Center. And we'll be right back. And you're listening to retirement results on Am 920 answer and one U.N.

Speaker2:
Retirement results. We'll be right back to learn more and schedule your complimentary retirement consultation, visit retirement Results.com.

Speaker7:
This is a gem for all the fellas trying to do what those.

Speaker2:
Ladies tell us you're listening to. Retirement results. And now back to the show.

Speaker3:
And welcome back. Result drivers I'm Ford Stokes, your chief financial advisor. Got Sam Davis here with us on the mic. He's your senior financial advisor and co-host. Two retirement results. Also, we want to thank all of our radio listeners on Am 920. The answer for making us the number one listened to radio show the last five years on Am 920. Answer. We also want to welcome our new listeners. We're on week two now on one in Gainesville, Georgia. Thanks so much for tuning in. We had record numbers listening in on WDHN last week and we really appreciate y'all as well. So we've got a very special guest. And we're here not just to talk finance. We're here to help improve your overall retirement years and help you enjoy those retirement years even more. We've got Andrew Lanahan with the PGA Tour Performance Academy here with us on the show. Andrew, welcome to retirement results. Good morning. Thank you so.

Speaker8:
Much for having me.

Speaker3:
You bet. It's great to have you on here. So for all of you that are wondering why did you have Andrew Lanahan with the PGA Tour Performance Academy here? Andrew is my golf coach. Um, I went to him several months ago down at TPC Sawgrass. It's a short six hour drive from Atlanta down to the TPC, where they play The Players Championship. And I got to tell you, I had, you know, five star service, concierge service, white glove service, whatever you want to call it. I had the best service possible. And Andrew was kind of the quarterback of all of it. But Andrew, can you just share a little bit about what you guys do, a little bit about your background? I know you played golf at LSU and um, played on the Korn Ferry Tour for a while, and you're you're 43 years young and you're looking to, you know, try out for the senior tour in seven years. But can you just share a little bit about how people can get better at golf and what you got, the background that you guys do, all the great things you did that you all do to help people improve their golf game?

Speaker8:
Yeah. You know, we, um, we take, uh, an approach of looking at, uh, your short game. We look at your full swing, we look at your putting, um, we look, we go to the gym and we take, uh, we have trainers that, um, you can, uh, we, you can get an assessment by. And then we kind of blend all of those assessments from the gym, and then we take a look at your full swing. Um, we'll put it on Trackman. We'll put it on, uh, a video for you, and we'll kind of show you the before and the after, and then we'll make some adjustments and some upgrades, and then, um, we'll go back out and film that, uh, that new upgrade for you, and then you'll go home with a with a a before and an after video of of, uh, the swing adjustments, the swing upgrades that you made. I think the biggest thing is, you know, one thing to consider is, you know, we're we're going to teach you. We're going to help you hit the golf ball better. But by what's best for you, not just necessarily a, um, I don't want to use the word method, but just whatever is best for a certain client. You know, we have clients from all sorts of skill levels, from a junior golfer to an early retiree, you know, so some players have, um, had some injuries here or there. So we can we can work with those injuries. It's not just AA1 size fit all. Um, yeah.

Speaker3:
You guys were you guys were great at working and helping me get better. What else was I mean, you're going to work on the golf swing. You're going to help people strike the golf ball better. And that short game. But one thing that was so impressive and so fun to do was working with Mike Shannon on putting. Can you talk a little bit about how you plug people in directly into what is really one of the best professionals at teaching folks how to putt more consistently? Yeah, I.

Speaker8:
Think Mike's been in the business for three decades or so. Um, and he's been teaching, putting be a little off on this for, uh, at least two decades. I'll be comfortable saying that, if not more. But he's going to he's going to help you, um, work with just lining your putt up. Like, how do you line up, you know, if you have a right to left putt? And he says, you know, you think you're lined up, you know, outside right edge. That's how you view the putt. Um, you know, are you really, truly lined up outside the right edge. So he's going to um, first initially take you through Um, how to line up your putter and how to aim correctly is a better way to say that. And he'll put you on Sam Putt Lab, which is kind of like the Trackman for putting. He'll measure your putter. A lot of, um, players are obviously different heights, so you have different length putters. So you got to get the right length putter for you in the right weight and then get you to aim correctly based off the Sam Putt lab numbers and then get you rolling it better.

Speaker3:
Yeah. It's it's it's it was really cool I love that also. It was great to get that baseline level on my fitness level. I gotta tell you it was pretty humbling. Um, to be able to figure out, okay, I need to get better. On flexibility, strength, different exercises. Um, you guys go through an entire kind of assessment for an hour just on that, um, would you kind of leaving no stone unturned. But also you guys, even though you're called the PGA Tour Performance Academy, you guys can work with all types of folks, from handicaps, from folks who are just starting. To folks that have been playing for a long time to sub ten handicaps. And I mean, I gotta tell you, you guys have knocked off at least five strokes off my game and I you know, it. It's very appreciative. It's nice to really know how to hit the golf ball correctly. But talk a little bit about how you guys are really inclusive on how you can really just help anybody improve and enjoy the game of golf a lot more.

Speaker8:
Yeah, I think, you know, part of that is just learning more about the player and where he or she is coming from, or whether it's a junior golfer or a senior golfer, an adult golfer. Um, you know what? What are they looking to accomplish? Um, as well as, um, just also keeping in mind that at the end of the day, you want to shoot a lower score. That's what we're in the business of is shooting a lower score. We want you definitely to strike it better, chip it better, putt it better. Um, you know, and reach some new heights and goals in the gym. But also, we want you to play the game of golf better and enjoy the game. So there's a healthy balance of striking it better and playing the game better. Um, you know, just if you can, if you can always have that forethought in, you know, in, in your head, then that'll that'll help you lower your scores. Um, as well, as much as we want you to have a, you know, a tiger in 2000 swing, uh, we want you to play the game better as well and enjoy it.

Speaker3:
Yeah. That's fantastic. What else you mentioned is you go home with a video of kind of the before and after on your swing, but you also get to go home with several drills that you can work on at your own club, at your, on the range, at, at the short game practice area, at your club. Um, there's some really neat drills, like in and out of the sand traps. Also, what to do, you know, with lime and sticks and all kinds of things on the range to help you get better, more consistent. Talk a little bit about all those different drills that you're able to share that have really helped out tour professionals that can help out just about anybody.

Speaker8:
Yeah, I think all the drills that we do are all, you know, we take that initial video and have some Trackman numbers on you. Those initial numbers on you. And we come up with a game plan. All those exercises and drills that we have are, um, individualized for that player. So that's going to help the player achieve whatever, you know, whatever area they're in. You know, for Mike, he likes putters to hook their putts more. Um, mainly our you know, mainly putters are slicers of the golf of of the golf ball as far as putting goes. Um, and then as far as like short game goes, you know, we see a lot of players struggling out of the bunker. So, um, kind of quick little, uh, exercise for your listeners is place the ball in the back of the bunker on the grass. So like a downhill, lie in the grass and hit some bunker shots or hit some rough shots. That way it'll simulate a bunker. Um, if you can kind of envision entering the bunker from the back, walking into the bunker. So a downhill rough shot that'll really, really help you, uh, hit some, uh, quality bunker shots. Just practicing downhill rough shots.

Speaker3:
We've got, like, a couple of minutes left in this segment. I want to make sure you got enough time to get your contact info in there. Let's say somebody interested in driving down or flying down to Jacksonville, going to Ponte Vedra and and getting lessons with you guys and getting a full workup.

Speaker8:
My number is (904) 955-7210. And then my email is you can email directly uh first name last name Andrew. A and d r e w l a n a h a n at PGA tour tpc.com.

Speaker3:
Got it. Well, I mean it's, it is so great to even get some of the wisdom that you guys are able to share. Any last thoughts on how people are going to improve and kind of what the result is when they come down to see you there at TPC Sawgrass and the PGA Tour Performance Academy.

Speaker8:
You know, one one thing that we haven't really chatted about is just we'll kind of touch on it. It's just, you know, when we do playing lessons, we do playing lessons to and to help lower your scores. Just take a wider angle into the pen. Um, that'll help lower your score. So you don't really necessarily have to pin hunt from 150 or say, 170 yards out. Just get it on the green. And then, uh, and then we'll take take our chances from there on, on the, on the putting green on the. Yeah makes sense.

Speaker3:
So again if you're looking to improve your golf game, if you want to enjoy your retirement years even more, or even your pre-retirement retirement years a little bit more, I encourage you to reach out to Andrew Lanahan at (904) 955-7210. That's (904) 955-7210. You can also reach out to us and we'll put you in touch with Andrew. Um, we're trying to make sure that we can share more great information about how to build that smart vision for your retirement and really help you understand. Okay, what are you doing? Who are you with and how are you going to fund your retirement? And and the what are you doing category. If you want to pick up golf as a hobby and play a lot of golf and really enjoy time with your friends and family out there playing golf, the best way to do it, in my opinion, is to head down to the PGA Tour Performance Academy and talk to Andrew Lanahan again. His number is (900) 495-5721 zero. Andrew's a very quick interview. We'll have you back on for tips on a monthly basis, just to just to be able to help the folks out, because there's so many folks that listen to our show that are going to want to get better at golf. And so we'll make sure we can get you in touch with them. And thanks so much for being on retirement results today.

Speaker8:
Thank you all so much.

Speaker2:
Schedule your free, no obligation consultation now by calling toll free at (888) 814-0304. We're no strangers to love. Visit retirement Results.com to schedule your free, no obligation consultation today. Now back to the show.

Speaker3:
And welcome back result drivers on Fort Stokes chief Financial Advisor. We got Sam Davis here with us on the mic. He's our senior financial advisor and co-host of the show. And so Sam that was just a fantastic interview with Andrew Lanahan. Hope some folks learn a few tips. I'll tell you that bunker drill has really helped my bunker game out. So you put the ball basically at the back of the bunker where you would enter into the bunker, and then you're and it's kind of on a downhill lie, and then you're, you're trying to really power through the ball to then hit over the bunker onto the green. And that gives you an idea of what it's like to hit the bunker shot. That's that drill he's talking about. It helped me. My golf swing got so much simpler, so much stronger. I probably added 20 yards of actual distance to just about to my drives to my irons. It's been amazing and my putting has gotten remarkably better. You've played with me. You've seen I'm able to read putts better with their system. It's it's just a neat deal and I hope people will reach out to him at the phone number we gave.

Speaker3:
You can probably give them a phone number again. And also if you've got questions or if you just want us to put you in touch with Andrew Lanahan, you can go ahead and reach out to us by sending me an email at forward at active Wealth.com. That's f o r d at active Wealth.com. Also, we're going to have him on once a month. We're going to have him on four shows from now. So if you want to send in your questions like, hey, what do I do? Um, for long bunker shots, what do I do when the ball is above my feet? What do I do when the ball is below my feet? He's going to answer some of those questions once a month. We're just going to do one segment a month. It's going to be pretty fun. And we're super excited that we're able to get a guy like Andrew to help out the drivers and just want to get your thoughts on that interview as well.

Speaker4:
Yeah, Andrew was an incredibly nice guy. Looking forward to having him on again. We had the chance to chat with him a little bit before and after his interview, and a good teacher has a way of making things that used to seem so difficult, then seem so easy. And I know you've had the chance to go down there to Ponte Vedra and TPC Sawgrass and enjoy what he's able to do and help people improve their game. And man, what an awesome opportunity that is. If you're a father or a mother to bring your son or daughter out there and just enjoy that shared love of the game. Or if you're a grandparent, um, man, what a memory to bring one of your grandchildren out there. Maybe you've got a grandkid that's, you know, starting to swing the club and grow up in the game. And and it's such a it's such a great hobby. It's a great sport to keep you active, you know, playing. I've seen out at the club Iron Horse where I'm a member in Alpharetta. You see husbands and wives play together. You see the ladies get together, the guys enjoy a weekend out on the course, and it's all ages as well. And, um, just a really beautiful thing and looking forward to having Andrew back on.

Speaker3:
It is a memorable thing to go there. Um, I, we've gone down there with some friends and it was really cool. I took my daughter's boyfriend, high school boyfriend who's trying to make a college team, and Michael's a very good golfer. He's only been playing like a couple of years. Former starting quarterback for South Forsyth High School, which is a six day school which is now the highest, the highest classification in as far as size goes. I mean, it's crazy. They've got like 700 kids a class at South Forsyth High School, and he's an athlete. And Andrew completely changed his life. I mean, that kid is competing in golf tournaments. He's playing number one on the golf team over there. And, um, he's been down there twice now. But it was it's been a lot of fun to be able to go and see other people go and grow their game and just really enjoy it. So I hope you guys and gals do the same thing. It's a great place to take your your grandkids or your kids, especially if they're serious about trying to get better at golf. Um, that's a neat thing. Just a good memory that they'll always remember. Um, and it's not crazy. Horribly expensive. You can actually get out of there and, and really get great instruction for not breaking the bank. Too bad. So that that was just I just felt like it was important. There's so many people that play golf that we know clients that we know that that play golf, and we're just trying to help them get better. So hopefully you guys will enjoy that and reach out to Andrew Lanahan. Can you give the number again, Sam, if you would?

Speaker4:
Yeah. If you want to get in touch with Andrew, you can get in touch with us. We'll be happy to share this information. Or you can just reach him at 904955 7210. That's 904 955 7210. He's got an email address and it's his name Andrew Lanahan at PGA tour Tpc-c. Com and if you look up Andrew Lanahan online, you'll find all of his past golf stuff with LSU and some of his appearances on some professional tournaments. And you'll be able to find him pretty easy. But if you can't just get in touch with us here at Retirement Results, we'd be happy to connect you with Andrew. Yeah.

Speaker3:
Also, at the end of segment one, we were talking about market volatility and protecting your savings and even your sanity from the market volatility. I want to recap those real quick. Number one is invest for income. Number two is annuities for stability especially for your retirement income portion of your portfolio. Number three is time segmented bucketing where you want to divide your assets into buckets based on when you'll need them. And then also tax efficient withdrawals Coordinated withdrawals from taxable, tax exempt and tax deferred accounts to minimize taxes and stretch your savings even further. Go ahead and reach out to us at. You can send me an email at forward at Active wealth.com, or reach out to us at Retirement results.com/plan. And we'll send you this market volatility report and how to protect your savings and your sanity. Now the other thing we want to talk about today is kind of staying invested and managing risk amid volatility as well. And Sam we've got five more steps that they can take to help manage risk and protect their retirement dollars in their entire retirement nest egg during uncertain markets.

Speaker4:
Yeah. So you've got to understand, when you're invested in the market, when your assets are exposed to market loss, there's going to be a little bit of market volatility. It's not going to be green arrows pointed up every single day. You're going to have days where the markets are good, days where the markets are bad. And and days like we've had a lot recently where the markets are mixed. You know, you may have the Nasdaq going up, but the S&P and the Dow are pointed down. So the important thing to keep in mind is you want to stay invested. When the market rebounds it's often in a very short burst. And it's powerful. And you want to avoid selling during those downturns to capture future growth. When the market retreats a little bit often some of the biggest trading days of the year are coming right after that. And if you miss those big trading days of the year, sometimes that can be a three, four, 5% boost on those really good days. You don't want to miss those because that will at that point, you're really allowing your emotions to guide your investing, and you want to have a sound, logical plan in place and you want to stick to it. Yeah, for sure. I mean.

Speaker3:
You want to, you know, you want to stay invested. You want to diversify your portfolio, you want to maintain balanced allocation. You also want to build a cash reserve. And number five is you want to count your income sources. So number one is stay invested where markets rebound are often short and powerful. Avoid selling during downturns to capture future growth. You don't want to miss the biggest gaining days of any given year, and these often come after significant downturns. You also want to diversify your portfolio and spread investments across stocks, fixed index annuities and other asset classes to reduce risk. Don't just say, okay, I'm diversified with stocks and bonds that are all traded on the same stock exchange. You should work with a financial professional like us right here at Active Wealth Management. The professionals at Active Wealth Management, the ones who power retirement results. Sam and Matt and myself and also Carol little are all here to help you better invest and protect your hard earned and hard saved assets. And we're going to help you diversify your income sources in retirement as well. But that's diversifying your portfolio is number two. Number three is maintain a balanced allocation shift towards conservative investments. Personal pensions, guaranteed rates, etc. as retirement nears to preserve your savings. And number four is build a cash reserve. Keep at least six months of living expenses in cash or short term investments to avoid selling during the downturn. Some people feel more comfortable with more savings in the bank, but try not to keep too many dollars in your account, gaining little to no interest.

Speaker3:
Let's make sure we get that money working for you. And also, you want to be a wise investor and take advantage of better rates we have. You know, our beating Bank CD segment that comes on here quite often. And we've got Amiga that is paying out 5.3% over a two year Amiga, which is a multi year guaranteed annuity. Um, if you want to get 5.3% today, all you could do is reach out to us at by visiting retirement. Com and then number five is you want to count your income sources, start with Social Security and then add any additional guaranteed lifetime income sources from things like pensions or a fixed indexed annuity where you can create your own personal pension. And believe it or not, those personal pensions are better than a pension you can get from your employer, because the pension you get from your employer are funded by something called a spia, a single premium immediate annuity, and those are not market linked to you. Those don't grow over time. They don't grow their account value. They don't grow the income value. They just pay you money out. So I'd encourage you to go ahead and reach out to us to build your own personal pension. When you can get an immediate 15 to 20% bonus, you get 8% guaranteed interest into the income account. With some products you. If you don't have guaranteed income in retirement, we absolutely can help you do that. All you get is reach out to us at (770) 685-1777.

Speaker3:
And if you got questions about Social Security, um, We're happy to help you get going on that. Um, you may have questions about, hey, can I count on Social Security to be there through my 30 plus year retirement? I think Elon Musk and the Department of Government Efficiency is going to help out there. Um, when should I take Social Security? We can help you figure that out, especially for each spouse. There's some things that married couples can do that single filers cannot. Um, that there's real opportunities for you to maximize the total income benefits that's coming to you. You may have a spouse who's worked some, but not all the time. They can turn on their income at age 62.5 or 63, and then and then turn on their spousal income at age 67. That would net more income in total. Um, so we can help you do that also. You know, why should you wait on Social Security? You actually get 8% more a year that you wait after your full retirement age. So that could be a really good idea for you, as long as you're not putting too much downward pressure with withdrawals from your portfolio. And also what happens to our benefits? You know, when a spouse passes away, you're going to lose likely at least 33% of the Social Security income benefit that's coming into the household when your spouse passes away. So let's make sure we've got a plan for that as well.

Speaker4:
All right. And when we come back you're going to get segment four. We're going to touch on healthcare and the rising costs of healthcare for just a minute. You're listening to retirement results.

Speaker2:
Thanks for listening to retirement results. Schedule your complimentary financial consultation now at retirement Results.com.

I looked out across the river today.

Speaker2:
This part of today show Retirement results is available wherever you listen to podcasts and online at retirement results.com.

Speaker3:
And welcome back result drivers to retirement results on Ford. Stoke's chief financial adviser got Sam Davis here with us on the mike. He's our senior financial advisor and co-host of the show. And Sam, I want you to talk a little bit about healthcare and kind of the rising cost of healthcare and long term planning. And, you know, the big idea here is, you know, healthcare expenses are among the biggest challenges that retirees face. You know, 65 year old couple today may need, gosh, over $300,000 to cover healthcare costs in retirement. And that doesn't even include long term care. Again, like we said at the beginning of the show. If you think long term care insurance is expensive, what do you find out how expensive long term care is? You got 7 to $10,000 plus a month for costs on long term care and assisted living facilities, things like that. Why don't you go ahead and share the four steps that people can do to help maintain and manage these rising costs.

Speaker4:
Yeah. Here at retirement Results and Active Wealth, we want all of our result drivers to stay healthy in retirement and also manage those expenses. Um, number one health savings accounts. If you're still working, you can contribute to a health savings account for future medical expenses. There's some tax free benefits there. So HSAs can be a powerful tool. You may talk to your HR department at your employer, see if that's an option for you. Um, also understand your Medicare options. If you're in your early 60s approaching Medicare age 65, start to educate yourself a little bit on what your options are. Medicare is essential, but it doesn't cover anything. You'll want to understand the different parts of Medicare, and maybe even consider supplemental insurance to fill in any of those coverage gaps. Um, one thing that we can help people do at retirement results is actually invest in a fixed indexed annuity that can help fund your Medicare costs during retirement. Step three is explore long term care insurance. The cost of long term care is certainly staggering. Nursing home expenses can exceed $100,000 a year. I mean, six figures just for nursing home expenses. Long term care insurance can help with this and protect your savings. And also just be prepared for late retirement expenses as you age. Healthcare needs increase. You want to plan for these costs and adjust your financial strategy accordingly. For I had a husband and a wife in the office just earlier this week, and they had some questions about long term care. You know, they're very smart thinking in advance about, hey, you know, my husband may need some long term care or some health care needs at some point. You know, how are we accounting for that in our plan? And really at the end of the day, Ford, it's we just want people to be financially prepared so that when you have a health care challenge, it doesn't derail your financial plan.

Speaker3:
Yeah, I would just say this, you know, if it is to be, it's up to me, right? It you're in charge of your own retirement, and that includes the health care side of it. Also, just to give you a couple of good pieces of information regarding long term care. On average, males who enter long term care facility are going to live 18 months or less likely while they're getting long term care, whereas females can live over 36 months. Um, we hope folks live long and prosperous, you know, retirement years and, and really enjoy their family and, and get to see kids and grandkids and great grandkids graduate from high school and go to college and get married and have kids and all that stuff. We hope everybody lives a really long time. We're not here to be morbid by any means. At the same time, we're we wish we could work with immortals. We wish we could have had some of those folks that lived to be over 150 years old that are still receiving Social Security income payments. Um, as the Department of Government Efficiency uncovered this past week. But, um, we saw some funny jokes about, you know, we're just so upset that these people that are 150 years old and older are going to lose their Social Security income benefit. Um, which obviously, I think the oldest person in the world is like 116 years old right now. So obviously there's nobody living today that's 150 years old. But we hope you live to be over 100 and you get to be on that Smuckers commercial or the Smuckers segment on the Today Show. But what I'm trying to say is, hey, get a plan for Social Security.

Speaker3:
Get a plan for long term care. Get a plan for health care. Get a plan for Social Security. We can help you with all those things. We also work with Bonnie Dobbs and Medicare and other red tape on the Medicare side. And she can give you some great options on the Medicare side. We don't do that here at Active Wealth management and Retirement results. But Bonnie does. And she's sat on the Council for aging for the AJC. She's super sharp and she can help you. But I would encourage you to reach out to us if you've got questions about long term care, you got questions about health care and retirement. And many of you that we've found have got questions on, okay, I'm 60, 61, 62 years old. I want to retire, but I got to get to Medicare at 65. What are my options? What should we do? And in working with Bonnie and us, we can help you develop a plan for that. And we can also help you develop a plan for the eventuality when one of the spouses is going to pass away. And what we'll do is, um, we'll help you build even an income plan for that, to make sure that you really don't have a drop off in income whatsoever. It's a really neat thing. So again, to recap this, um, some steps you can take to help manage these rising costs. Manage HSA accounts. That's number one. Number two is understand Medicare options. Number three is explore long term care insurance. And number four is prepare for late retirement expenses.

Speaker4:
Yeah. One more thing. If I could just mention Ford is, you know, it's important to stay healthy, you know, take an active role in making sure that you're staying active. You've got a good diet. If you missed our interview from earlier in this episode, we were talking with Andrew Lanahan at the PGA Tour Performance Center down in Ponte Vedra in Florida. You know, golf or having a hobby that keeps you active. That's a great way to stay healthy and and just have something to, you know, get out of bed in the morning, get outside, stay active. You're going to live a healthier life and you're likely to need less health care in retirement. Um, if you're staying healthy and staying active.

Speaker3:
Yeah. I mean, just they talk about grip strength is a great indication of of mental acuity. So if you keep your grip you can open up jars and things like that. A lot of women have some difficulty with some of that stuff. If you if you're gripping a golf club or you're gripping a pickleball paddle or a or a tennis racquet and you're you're playing with that all the time, or even a ping pong paddle, your grip is going to get better. But also, they talked about the size of your thighs and building muscle in your thighs. The lower half is really important in golf too. So Andrew works with folks on that too. So try to get out there and walk to the number one thing that's the most consistent of all people that are interviewed who lived to be over 100 years old. They just went out and walked every day, um, starting at age 60. And now let's go ahead and share our final countdown.

It's the final countdown.

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

Countdown. The final Down.

Speaker3:
So on today's show we talked. The title of today's show was kind of Navigating Retirement Challenges, kind of smart strategies to protect your savings and your health and your income. We talked about market volatility and how to protect your savings and your sanity. We interviewed Andrew Lanahan, who is a PGA teaching professional, um, who's down there at the PGA Tour Performance Center. And he's fantastic, great at what he does. And if you want to reach out to Andrew, you can go ahead. You can also email me at forward at active Wealth.com. Sam, what was that phone number again for?

Speaker4:
Andrew, if you want to get in touch with Andrew Lanahan down at the PGA Tour Performance Center, his number is 904955 7210. Or you can reach out to us and we'll put you in contact with Andrew.

Speaker3:
Yeah. And also we talked about, um, Health care and the rising cost of health care and long term care. We did that on this segment, and next week we'll talk more about rising taxes and the national debt. We ran out of time because of Andrew's interview. How the USA's bottom line could affect yours. We'll do that. But we'll also we're going to address kind of the difference between strategic asset allocation and tactical asset allocation when you're managing or investing in your portfolio. Try to avoid running all the way down to the bottom of the trough of a of a market downturn. We're going to help you figure that out. All part of building that smart retirement plan here at Retirement Results. And our active wealth team is standing by ready to help you. All you got to do is reach out to us at retirement results.com/plan. That's retirement results.com/plan. Or give us a call at (770) 685-1777. Remember if you're looking for information about retirement is going to be a bear. Be a grizzly. Be as aggressive as possible. Trust your instincts, but work with a fiduciary. That's going to put your needs ahead of your of our own. That's what we do here at Active Wealth Management and Retirement Results. And we look forward to working with you and helping you build that tax efficient, fee efficient and market efficient portfolio for the long term so you can really enjoy your retirement years and really have that peace of mind you're looking for. Have a great week, 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 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 Adv2 to item four for additional information. Fixed annuities, including multiyear 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.

Speaker3:
Bonus segment for our WVU listeners and our podcast listeners to retirement results. We've got ten tips for a happy retirement. When Sam and I are going to go through these one by one. Uh, Sam, why don't you go ahead and take number one?

Speaker4:
Yeah, the first one. We don't want you to retire until your debts are paid. You know, one thing we like to explain to folks out there. You know, for example, if you still have a mortgage, that mortgage payment every month will likely eat up one of the two Social Security payments coming into the household. If you're a married couple or if you're single and you still have a mortgage, you're trying to retire. That Social Security payment could be eaten up by that monthly mortgage payment requirement. So try not to retire until your debts are paid.

Speaker3:
So that was number ten. Number nine is become financially literate I would say just stay informed. One of the one of the great ways to become financially literate is to listen to books on audible. I'd encourage you to listen to my book, annuity 360 on audible. It's just like five bucks, I think, to listen to it. I'd encourage you to do that. You can learn everything you need to know about retirement income and annuities by listening to that book, and also how to be more tax efficient. It's got some really great rules in there, like the 4% rule on withdrawal rates. It's got the rule of 100, which is kind of talks about your risk level and and the allocation of your portfolio as you age. And then also we've got the rule of 72 that talks about how fast your actual assets will double over time. And so I would just encourage you to become financially literate, listen to the show, seek as much information as you can. As we talk about in every final countdown, if you're going to be a bear, be a grizzly. Be as aggressive as you can about getting as much information. How to retire and invest successfully.

Speaker4:
Yeah, number eight is plan how you'll spend your time. This goes into that smart vision that we talk about. You know, are you going to go on some trips with the kids and the grandkids. What are you going to do? Are you going to be spending some time at the lake or at the beach? Have that smart vision for your retirement, because that's going to make it so much easier to plan so you can reach that goal. Yeah.

Speaker3:
And then number seven is take full advantage of your employee plans like 4k plans for three B, plans for 57, or even your own Sep IRA. Make sure you business owners are paying yourself first. Try to pay yourself ten, 15, even 20% of the money that you earn up front and you'll be happy that you did. But also take advantage of any employee pension plan so you can take that lump sum and then invest that into a fixed index annuity and get a bonus of 15 to 20% on that money and generate an even higher income, because your money will be market linked. Whereas in the traditional pension plans, they are not market linked and they're just going to pay out over time, but they're not going to they're going to pay a flat rate, they're not going to pay an increasing income over time. But take full advantage of your employee plans for sure.

Speaker4:
Tip number six is simply have a financial plan. A lot of people feel like they've got their 401 K, or they've got their money saved in their investment account and so that they're prepared for retirement, but that alone does not constitute a financial plan. I would recommend working with a fiduciary like the advisors here at Active Wealth Management. Take advantage of our complimentary planning services. It's a $2,500 value, and all you have to do is reach out to us to get started. So tip number six is simply have a financial plan.

Speaker3:
Yeah. Again, I don't know anywhere else where they'll give you $2,500 worth of free services, absolutely no cost to you. And you become better educated because of it. We do that here. We do that on purpose because that way you can make an informed financial decision if you want to work with us. And if you want to do managed portfolios, you want to take out 20 to 40% of your portfolio, um, to generate retirement income with fixed indexed annuities and replace the bonds within your portfolio and delete the advisory fees and portfolio fees for the retirement income portion of your portfolio. I would encourage you to reach out to us to do that. Number five is find new hobbies to keep busy. It's a really good idea whether you want to pick up the guitar or you want to play drums, or you want to go play golf, or play pickleball, or just stay active, or if you want to, if you're crafty and you want to start making things on the side and, and and sell them, or you want to go to festivals, you want to do antiquing or whatever that is, I would encourage you to find new hobbies to keep busy.

Speaker4:
Tip number four is write a will. Have those plans for your estate in place. We want to make sure that your money outlives you and not the other way around. And if your money is outliving you, we want to make sure that gets passed on to your loved ones according to your wishes.

Speaker3:
Yeah. And also you're going to write a will. Make sure you're doing that with a licensed attorney in your state. We do work with a service that that introduces us to attorneys who work at lower cost for wills or vocal trusts or irrevocable trusts. And I encourage you to reach out to me. Just send me an email at forward at Active Wealth. Com. Number three, we want to live within our means because we want to start with a positive retirement income surplus and keep that throughout retirement and not start with a retirement, a negative retirement income gap. And then that would widen over time because of inflation.

Speaker4:
Number two is start saving and investing early. If you're old enough to take advantage of catch up contributions, be sure you're doing that. Because if you're in your 50s, you still have time on your side. You've still got lots of time to plan and save for retirement. So start early and invest early.

Speaker3:
Yeah. And the last one, number one is take care of your health. Just get out there and walk. Move your body. Make sure you're you're moving your body. As soon as you become sedentary. That's when you're shortening your life. We don't want you to do that. We want you to live as long as possible. Really enjoy your retirement. And I hope you really like these ten tips if you've got. If you want to see our quick report on this, it's a nice little graphic. All you got to do is send me an email at Forward Active Wealth com. Hope you also like this bonus segment for one Done and also for the podcast listeners, thanks so much for listening to retirement results. We appreciate you reach out to us by visiting retirement results.com/plan. That's retirement results.com/plan. And we'll go ahead and get started right away. Just put your information in. Submit it and we'll call you and get started right away on your free $2,500 Portfolio analysis, Social Security Maximization Report and Financial plan. Your 95th birthday with a strategic Roth ladder conversion absolutely free at no cost to you. Complimentary of the professionals here at Active Wealth Management, we are a private wealth management firm. We're here to help you manage and protect and grow your hard earned and hard saved wealth. Have a great week everybody.

Speaker2:
Thanks for listening to retirement results. Schedule your complimentary financial consultation now at retirement results. Com.

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