Improve Your Plan & Live Comfortably During Retirement

5.30.25: Audio automatically transcribed by Sonix

5.30.25: 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. Got Sam Davis here with us. He's our senior financial advisor and co-host on the show. We've been doing this show for literally over six years now, and we're so glad that you guys listened to us. We're so happy and and appreciative that you guys have made us the number one listened to radio show on Am 900. The answer? And also we're a very fast growing radio show on Wdan in Gainesville, Georgia around the lake. And thank you so much for listening to retirement results. Also, if you're wondering who a result driver is, since I mentioned at the beginning of the show, a result driver is somebody who likes to build a tax efficient, fee efficient and market efficient portfolio and also is looking to protect and grow their hard earned and hard saved assets and within their portfolio, pay less in fees, reduce that expense ratio. Try to reduce their standard deviation, which is a measurement of risk, and generate a higher rate of return if they can all to prepare for a successful retirement. So that is a long winded answer on who a result driver is. And Sam, why don't you say hello to the result drivers?

Speaker4:
Welcome to the weekend. Hope everybody had a fantastic Memorial Day weekend last week, kicking off the summer celebrating your freedom with your loved ones, your family, your friends. Um, Ford, I know you were out there at the lake with your family, and I was enjoying some some golf up in Tennessee and North Georgia and just really enjoying this beautiful country we have and great summer up ahead for all of us result drivers. And really just thank you. I just want to echo what you said, Ford, thank you to everyone who's been listening to us for so many years. It's been great connecting with listeners and actually helping them kind of bridge that gap from their working life to their retirement and setting themselves up for success in the future.

Speaker3:
Yeah. We had we had a great time. We had, um, several girls from the North Forsyth competition cheer, uh, state championship team. Uh, they came over and on Saturday and Monday, I mean, Sunday and Monday and and left on Tuesday. And then we had, uh, the Miso's family over which Michael Miso's is Grace's boyfriend and, and, uh, and he's going to try to play golf in college, and and I'll tell you, the missus says we're going to hold all other, uh, lake home guests up against them. Because Angelo came in, he put together two loungers without really much help from me. And and then he also was the catalyst to make sure that we put together our first really big puzzle. Diana got a huge like, like, almost like a lazy Susan for puzzle puzzles that, you know, you can move around and it's got like the four different drawers that you could put the different colors in and everything. It was, um. It was impressive. It was a memorial day thing with, like, red, white and blue with basket of flowers and all that stuff. And it was really difficult to figure out where was which and because there was some greenery in it and stuff. So it was pretty interesting and neat. And we got out on the lake and, um, the girls did a little bit of surfing still.

Speaker3:
That's a work in progress for them. And, um, we'll wake surfing. And then we, some of their friends are have been pretty experienced at it. And then, you know, we cooked out the Big Green Egg. Shout out to the big Green Egg, folks. Um, they that XL Green Egg did great with, um, a Boston. But, um, although I still need help getting it really where it's pull apart pork. It was just amazing. Just it jumped up to 250 degrees and that made it a little bit. A little bit. Not as much pull apart pork. Just more like a sliced pork. Kind of a deal. Um, but our we cooked our world famous buffalo wings, which is really neat. Um, and I'm going to give everybody the recipe right now. Here it is. So you take your buffalo wings. You want to get whole wings. You don't want to cut them because you don't want the fat to leak out. Um, and go on fire in the Big Green Egg on the play center. And you put the, the, the full wings in your, um, in Ziploc bags with Italian dressing and, like, six tablespoons of soy sauce. And it kind of makes it saltier, smokier all that kind of stuff.

Speaker3:
And then you put them on the Green Egg at 300 degrees for about 20 minutes aside, you can get it done for 30 minutes total. But I like to put it in there for 40, um, just to make sure. And then you pull them off, kind of dust them off, and then, um, you, you dust them, you put them in a bowl with Frank's red hot buffalo sauce, a little bit of butter and some soy sauce with six tablespoons of soy sauce with that as well. And put them back in the Green Egg, um, with direct heat for just a minute each side. Pull them off and you can enjoy them. They're amazing. And we had folks actually dipping crackers into the buffalo sauce. They thought it was so good. So that's your recipe for, um, for buffalo wings on the Big Green Egg. And they're not fried, obviously. So it's a little bit healthier and, um, they're fantastic. And we'll put the recipe in the transcript. Um, for this week's show, you can check that out at retirement.com/episodes. So just the episode's page on retirement. Com and, um, that's it. So. And Sam, you went and got to play some golf. Yeah. And up there in, in Tennessee didn't you.

Speaker4:
Yeah. And well, now you got me thinking about lunch with that wings recipe. So that's good stuff we got. We got a whole show ahead of us. But yeah, I played, uh, Sweetens Cove, which is in South Pittsburg, Tennessee, just west of Chattanooga.

Speaker3:
That's a unique place, isn't it? Owned by Peyton Manning. Isn't that right?

Speaker4:
Yeah. Peyton Manning, uh, former US tennis player Andy Roddick involved in the investment group out there. They've done a really good job with it. Really fun. Uh, golf experience. They just let you go around and around all day until you want to go home. Had a really good, thick cut fried baloney sandwich while I was out there at Sweetens Cove at the time. That was a good one. And then went up to McLemore resort, uh, up near Cloudland. And this is not an ad, but their new course that they built, the keep, uh, is going to be one of the best golf courses you can get on, uh, in the US as far as public golf courses, I once it officially opens later this year, I got a chance to play that. And it was just incredible views of of North Georgia. And just a really great weekend. Did some grilling ourselves over at the Davis household and ready to get back at it and help all of the result drivers this summer. Um, you know, because the summer is a great time. You know, we all find that we've got a little bit of free time in the summer that those dog days of summer when you've got a little bit of free time, you know, dig out those financial statements, you know, work with some fiduciaries. Ford and I are here to help you and Ford. We've got a lot of great information coming up in the show today.

Speaker3:
Yeah, no, I'm excited about it. So on today's show we're going to talk about financial fundamentals, how to prepare for and live a better retirement. So here's some of the big key topics for today's show. So number one is how to live comfortably during retirement no matter how much you have saved. Also number two is how to beat the bank CD rates out there and why reserve requirements matter for your investments. And now Sam, go ahead and share this week's financial wisdom quote of the week.

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

Speaker4:
This week's quote of the week comes to us from author Jim Rohn and Jim Rohn. Quote goes like this formal education will make you a living, self-education will make you a fortune. And Ford, this just reminds me of another quote we like to share a lot. Inspect what you expect. You know, really try to self educate yourself about your situation. I mean with those important things your health, your wealth, your family, you know, inspect what you expect with those plans that matter so much. And we're going to help people with some actionable tips related to that quote today.

Speaker3:
Yeah. For sure. And and I mean, I, I just listen, if it is to be it's up to me. Right? It's up to you to really kind of be the captain of your own retirement. The days of the corporate pension, where the company pension does give you something. Those kind of gone the way of the dodo bird. It's just don't exist as much anymore. I think less than 16% of S&P 500 companies still offer personal pension. You could still get one. You can get one through us just by visiting us at retirement. Com forward slash plan. Put your information in. You also get a copy of my free book. Um. The book. If you submit your information, just go to retirement. Com forward slash a and we'll get that to you. We've got a big announcement coming up at the beginning of the next segment. Um, and also when we come back from break, we're going to talk about nine ways to live comfortably during retirement. No matter how much you've saved, we're going to go over those nine ways. Um, and I think you're gonna enjoy that great list as well. Again, our goal here on retirement results is always to educate you on how to be better prepared for retirement and how to really delete the IRS from being your partner in retirement. How to, you know, reduce your risk, reduce the fees you're paying in expense ratio. Again, back to reducing risk. Reduce that standard deviation. Consider investing in a tactically managed portfolio versus just a strategically managed portfolio or a combination of both. Don't just hang in there with your results. Do a little bit better than that. And we're so glad you're listening to us here on Am 920. Answer in WD. We come right back from the break. We're talking about these nine ways to live comfortably during retirement. No matter how much you have saved, come right back retirement results.

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

Speaker6:
When the night has come.

Speaker2:
Are you concerned about rising taxes and how that could affect you and your family during retirement? If you have an IRA balance over $400,000, you could save six figures in retirement taxes that you would be paying during a 35 year retirement. Find out how much you could save today by scheduling your no obligation Roth conversion consultation with Ford Stokes of retirement results. Learn more and schedule an appointment at retirement results. Investment advisory services offered through Brookstone Capital Management LLC, a registered investment advisor. Visit retirement.com for more information. You're listening to Retirement results. And now back to the show.

Speaker3:
And welcome back to retirement results. Result drivers I'm Ford Stokes your chief financial advisor. Got Sam Davis here with us our senior financial advisor and co-host. So we talked about it. We're going to talk about the nine ways to live comfortably during retirement no matter how much you have saved. But also, Sam, you've got an announcement you want to make here on the show.

Speaker4:
Yeah. So as of this very weekend that you're listening to retirement results, the smart retirement plan for your new book is available. It is available on Amazon and on audible. So whether you want to listen to this book on audible or read this book in the form of an ebook. You've got both of those options currently. You could even do both if you want. You could get the e-book and you could follow along with the audiobook at the same time. I know some people that used to do that in college when they were really trying to get in and learn something in a textbook, but the smart retirement plan. Find it on audible. It is free with a trial of audible. Same with the Kindle version. You can get a free e-book copy or visit retirement plan and we will give you a copy. Uh, whichever you prefer. We can get you a copy of either the audiobook or the e-book. And for this goes chapter by chapter through really all the main components of what we believe is a smart retirement plan. It's written by you, a fiduciary, a registered social security analyst. So if you're looking for a really good down the middle perspective of how to prepare for retirement successfully, then pick up the smart retirement plan, get your free copy retirement plan and we'll get that to you.

Speaker3:
Yeah, I really appreciate that, Sam. Also, you did a great job on the forward. Um, Matt did a great job on the afterward or post log. And, you know, our goal with the smart retirement plan was just to create a practical, strategy driven guide for anyone who wants to approach retirement with clarity, um, control and financial confidence. You know, in today's fast changing world, you know, retirement planning is no longer optional. It's essential. And this book, you know, that we've been able to I spent like two years writing this thing. And it provides a step by step roadmap for building a retirement that hopefully is stable. It can be flexible for you and aligned with your personal goals and values. It's filled with a lot of real world insights like actionable steps, and we've got some expert wisdom in there. The Smart Retirement Plan isn't just a book to listen to. It's a guide to live by. Whether you're a few years from retirement or already retired, this book gives you the tools to protect what you've built and enjoy what's ahead. So, um, we're super excited. Um, I want to give a shout out to Michael Joss, who did a great job, um, narrating the book. He's one of the top narrators of books on audible, and it was very nice and kind of him to reach out and accept, um, the, the opportunity to read, to narrate the book. I narrated annuity 360, the audiobook. Um, Sam, you did a great job producing that, but we're so busy with clients, we just couldn't take the time out to do that this time.

Speaker3:
I gotta tell you, it's it's a pretty big deal to me to have somebody like Michael Joss read a read my words. It's kind of neat. And also read your words and Matt's words to Sam. I mean, again, you did a great job kind of setting the the importance of the book up and what the benefits for people when they're, they're reading it or listening to it. Um, it's a it's like a 2.9 hour listen. It's it's not the shortest, but it's not the longest. It's not forever. Um, and it's a pretty quick read as well. So again, if you're interested in trying to get an understanding, there's 16 kind of information packed chapters in there that will go over every facet of retirement, whether it's about how to build wealth or also the income during retirement, how to delete the IRS and be your partner. Retirement legacy planning is in there as well. All that stuff is just right there for you to enjoy. So and also just to learn from and hopefully if you can follow that, the plan that's kind of set out in the smart retirement plan, I promise you you're going to have a successful retirement and, um, and really enjoy it. And hopefully you won't have to watch the stock ticker as much as well.

Speaker4:
Yeah, that's absolutely right. Yeah. Once again retirement results. Com forward slash plan. Just give us your name email phone number. We'll get you that free copy. Whether you want the audiobook or the Kindle version the e-book. Just let us know. We'll get that over to you and Ford. That brings us to our first full segment of this week's show. We've got nine tips to live comfortably during retirement, and this is for anybody, no matter how much they have saved. Whether you've got half a million, a million, $2 million or more saved for retirement, all of these are actionable tips for you and Ford. I want to kind of send the first one over to you, because the first tip is maximize your final earning years to boost your Social Security benefits. You're running these reports for our listeners, our clients, those who are coming into the office all the time because most people actually don't maximize their Social Security benefits. And you want to make the most of that.

Speaker3:
Yeah, a couple of things there. One is for every year that you're putting on there at the end of your career, you're replacing one of the lesser income years, let's say maybe when you were a summer intern during college or something like that. Uh, we're looking at your top 35 earning years. And what you want to do is try to replace, um, one of those lower earning years with one of the top earning years. And, and it'll help out your, your Social Security income benefit quite a bit. A lot of people look at it and they see the statement they get or when they go on ssa.gov, they're like, oh, okay, I'm good. But on Ssa.gov, they're taking you out to 67, which is likely your full retirement age. And it's like, well, wait a second, if you retire at 60, your Social Security income payout is going to be a lot less. It's gonna be a lot different, especially if you also start taking it at 62.5 or 63. Also, we were we encourage everybody to just avoid taking it at it 62.5, at least make it to 63 years old. And one other reminder here if it makes sense in your situation, delaying taking Social Security at all the way up to age 70 to receive a 24% boost. Your benefit 8% a year after each year after you reach your full retirement age of 67 is a really good idea. One other really important point if you're filing for a spousal benefit, make sure you're filing for it at your age of 67 or slightly earlier, because it does you no good to file for it after 67, because you're only going to get 50% up to 50% of what the primary breadwinner, bread winner or wage earner in the household. Your spouse is going to receive up to their full retirement age. You're not going to get 50% of what their, um, their benefit is at age 70, as an example. Also, one other really important point you need to file after your spouse files, a spouse has to file first for you to get the spousal benefit.

Speaker4:
Yeah. So the tip number one, maximize your Social Security benefits. If you're interested in doing this for yourself, get in touch with us (770) 685-1777. Or you can reach out to us and find our phone number at retirement. Com forward slash plan forward. And Matt now our registered Social security analysts in our office. And we can put together that report for you to help you maximize your benefit based on your situation. And if you're married, you're in your spouse because like you just said, there for a lot of different decision points there. And we have time for one more tip before we go to the break. Tip number two, uh, to really live comfortably during retirement, no matter how much you have saved and that is pay your house off or consider downsizing and pay cash for a new, smaller house or a property that's less expensive. Your retirement home and invest the difference. Ford I'm actually working with a active wealth prospect right now. Who's doing this? Selling some real estate assets, finding what that retirement home is going to be so that they don't have that mortgage payment during retirement, and they're going to be able to invest the difference into something that produces income for their. And Ford, I know you say that the happiest retirees that you see, and I think this is the case too, for me, those happiest retirees we meet with have paid off their mortgage.

Speaker3:
Yeah. No question, because you don't want that mortgage payment to eat up one of the Social Security income payments coming into the household. That's one. And just it's going to make life just a lot easier during retirement for sure. Um, one thing to go back to the maximize your final earning years, do go ahead and do the catch up provision and put $8,000 into an IRA or a Roth IRA. That extra $1,000 will matter, um, for each spouse. So make sure you do that. And we come back from the break. We're going to talk more about the nine ways to live comfortably during retirement, no matter how much you've saved. And I think you're going to find this list to be very informative. We've gone through the first two, we'll recap those two and then get to the next seven. In this next segment, you listen to retirement results right here on Am 920. The answer and Wdan.

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

Speaker7:
Anything you need. All you have to do is say.

Speaker1:
Any bonuses mentioned may be subject to additional restrictions and regulations based on the offering annuity company. You may not receive the bonuses if the contract is fully surrendered, or if traditional annuity payments are taken, and if the policy is partially surrendered, it could result in a partial loss of bonuses. Because these are bonus annuities, they may include higher surrender charges, longer surrender charge periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don't offer a bonus feature.

Speaker8:
Imagine this you just purchased your spacious new dream home with new memories on the horizon. But there's one thing hovering in the background that could cost you dearly your home insurance. I'm Jim Tarbert here for the Retirement Radio network powered by Amira Life. According to a report by USA today in 2024, study from the Insurance Information Institute found 12% of Americans no longer have home insurance. That number way up from the 5% figure in 2019. Karen Collins of the American Property Casualty Insurance Agency recently told CNBC. Insurance companies continue to seek alternatives.

Speaker9:
We, as insurance companies, are advocating for solutions to really try and help address these increasing costs that families, individuals and business owners are facing. This is the economic safety net that helps rebuild homes, neighborhoods and communities, and it's really, truly vital.

Speaker8:
About 40% of Americans who own their home view homeowners insurance as a discretionary purchase. And despite the risk a handful of Americans have decided upon self-insuring their homes. So how can you get the best deal for you and your family without paying too much for homeowner's insurance? Well, first, check your coverage. You don't want to insure your home for more than it's worth. And second, assess your deductible. A higher deductible could lower your premium. Third, consider bundling your car insurance with your home insurance, as companies offer discounts when you combine multiple policies. By being informed and proactive, you can make sure you're paying a fair price and protecting your property for the retirement radio network powered by Amira Life. I'm Jim Tabaka.

Speaker2:
Visit retirement Results.com. To schedule your free, no obligation consultation today. Now back to the show.

Speaker3:
And welcome back result drivers I'm Ford stokes chief financial advisor. Got Sam Davis here with us, senior financial advisor and co-host on the show. And we're talking about the nine ways to live comfortably during retirement. No matter how much you've saved. The first one was maximize your final earning years to boost your future Social Security income benefits. Number two is pay your house off or downsize and pay cash for your new, smaller house and invest the difference. Again, the happiest retirees we meet have paid off their mortgage so that their mortgage payment doesn't have one of their Social Security checks. And Sam, what's number three on our list of nine ways to live comfortably during retirement?

Speaker4:
Yeah. So we would suggest, you know, bank that money that you save from having no mortgage. Hopefully you've got a nice monthly income surplus. That's always the goal when we are retirement income planning with people who come in and see us at Active Wealth Management. So if you've got that monthly surplus, you can make smart reinvestments that can really pay off as you get older. Because if you're just getting into retirement, you're in your mid early 60s, you've still got a good time horizon and it makes sense to make some smart investments in your future. I can really pay off as you get older. You know healthcare expenses later in life can really add up. So if you've got that surplus every month, Why not continue to invest in an investment account or brokerage account? There is actively managed, has a reasonable fee and you can continue to grow your wealth for the future.

Speaker3:
Yeah, we think it's a really good idea to kind of save the money you've got. The more you save, the more you can invest, the more you can get that money working as hard as you did. Right? We want to get that money working for you. So that's a really good way to do that. One of our clients, um, Miss Deborah, she has always saved the money from her car payment. She. She still owns a ten year old like Subaru Outback, and she keeps it in immaculate condition. And, um, she's literally, like a little old lady who only drove it to church on Sundays. Kind of a person. And. But she's banking $500 a month every single month into an investment account. And she calls that her car fund. And she's used that car fund at times to pay the Roth conversion taxes for that year. And it didn't it didn't really negatively impact her too badly because, you know, she worked all the way till 71 years old, so she had income as well. But that really helped her get that wrath out of conversion done before age 73, before RMDs kicked in.

Speaker4:
Yeah. So tip number four now is simply stay invested. You know, stick to the course. Don't let emotions get in the way of your smart retirement plan. It's important to have a good understanding of what your risk tolerance is. But once you have that plan set forward, we like people to, you know, stay that course. You don't want to get emotional. Like if, you know, when the tariff tantrum was really happening in early April, if you pulled out at a bad time and missed those big updates that soon followed, you know, now you're off course. And that could take years to recover. So stay invested, but make smart adjustments annually or as life events change your goals. Maybe a new grandchild you know comes into the family and you really want to leave a legacy by helping pay for that child's education. So if you have a major goal change like that, make sure you're working with a fiduciary, working with an advisor you can trust to make adjustments to your plan.

Speaker3:
We also have one way for people to stay invested, but stay invested in a safer way by implementing a bond replacement for 20 to 40% of their overall portfolio, and let that money grow tax deferred with zero financial market risk. And if you've got questions about how to do that, I would encourage you to reach out to us at retirement. Com or call us at (770) 685-1777. But you can get market like games without market risk in this type of investment vehicle. Just go ahead and reach out to us at retirement plan. You can get up to 20 to 27% in immediate bonuses in that financial product as well. So if you're curious about how to really spike up that bonus, um, immediately when you invest in this financial product, go ahead and give us a call at (770) 685-1777.

Speaker4:
Tip number five is implement a Roth IRA conversion before age 73. This could help protect you from future tax increases and eliminate those RMDs, those required minimum distributions from a portion of your retirement plan. You know, Ford, you say all the time, why wouldn't you delete the IRS from being your partner in retirement? People are tired of paying taxes. You really don't want to be paying that much in income taxes. Deep into your retirement. So find out if a Roth conversion makes sense for you. Ford. That's something we do. We do those latter conversion plans for everyone who comes and meets with us.

Speaker3:
Yeah, we try to do them over a 5 to 10 year period. Usually it's 5 to 7 years. We try to get out before age 73 because you're you're conversion does not count as the RMD. So that's really important to do and try to get out before you turn age 73, because you'll have to take out, you know, over 4.38% starting at age 73. Plus, if you're doing any conversion of up to say you're converting 10 or 15%, you'll be taking out 20% of your IRA. And that can really spike up the tax situation. And we want to keep those taxes at 24% or lower. When we're doing Roth conversions, we like to keep them right around 15% if we can. And so that's a really good idea to do. But deleting the IRS is a really great, smart thing to do. And let me just ask you a question. Hopefully it'll motivate you. Are you really going to be happy paying taxes 20 years after you stop working on income taxes? I mean, you'll be paying property taxes and sales tax and and, you know, a modest amount of income tax or Social Security income benefit. Hopefully they'll change that with Trump's big new beautiful bill. But the question is, do you really want to be paying income taxes, um, 20 years after you stop working. I don't think you do. And so if you don't want to do that, go ahead and reach out to us at retirement Results.com. Click that schedule consultation button in the upper right corner, and we'll get started right away in helping you delete the IRS from your retirement plans 100%.

Speaker3:
Over time, we're doing that to try to reduce the taxes you're going to pay. And again, it's kind of what Sam, what you say we're trying to make sure you're paying taxes on the seed, not the harvest. So the earlier you can pay the taxes, get the IRS out of your retirement accounts and get those into Roth IRAs. It's a really good idea. One last hint on this is that we want to take IRA money. Move it to your Roth IRA money. Dollar for dollar. So you're going to convert, let's say $100,000 in a given year. We want to move that 100 grand over to your Roth IRA. Let's say you're in a 15% tax bracket. You have 5% state tax. We're going to we're going to pay 20% or 20 grand on those taxes, but your Roth IRA is going to grow $100,000 at the same time that you're actually deleting and moving and transferring the money out of your IRA into the Roth IRA. So as your IRA goes down 100 grand, your Roth IRA is going to go up 100 grand. We're going to use taxable dollars or money in your checking account or rental income or whatever. We're we're collecting that 20 grand to pay the taxes on, and we're going to take tax deferred money and turn it into tax free money for you.

Speaker4:
Tip number six is start your own personal pension that you can never outlive. You know, Ford, we actually have a few different products that investors receive a bonus with certain fixed indexed annuity investments. And they can grow their principal with market like gains and no market risk. You know, one thing we like to see people do is after they find out how to maximize and time their Social Security benefits, you know, let's say they're making $4,000 a month in Social Security income, but their monthly expenses are 6000 a month. Well, let's just take a portion of the remainder of their portfolio of their retirement portfolio to fill that $2,000 a month guaranteed, as long as they live. So they know that no matter what happens, their income is protected. That's how we like to see investors use fixed indexed annuities, more conservative investors who are really looking to get to the guarantees really like these FIA's as well.

Speaker3:
Yeah, we'll try to share, um, studies that have been done on fixed indexed annuities versus bonds, um, on next week's show. But I'll, I'll just say this. There are no advisory portfolio fees with fixed index annuities because the insurance company pays us as, uh, the insurance agent or the annuity agent slash the financial advisor. Um, so that's good. And it's a one time fee. And then we're responsible for serving, um, the loan over time. So that's great. But if you want to get between 15 and 27%, really up to 20 to 27% in immediate bonus money on your money if you're going to leave it in there. It vests over the life of the annuity. They also are giving you 310% of how an underlying index does. And one of the products um, the nationwide pick ten, they're giving you 310% of how the BNP Paribas Global Index performs. That's 3.1 x of how of how the index performs. So if the index. So that's a pretty attractive situation. Um, next is uh, you know there's also products like the SPDR Synergy Choice Bonus ten. They're giving you 75% of how the Invesco Q, Q, Q performs with no fees. The nationwide comes with a 1% fee and a 1% spread rate. But the speed that comes with no fees, they're giving you 75% of how the index performs, and they're keeping Being 25%, but you have no fees, so you only give them money when you make money. So that's really great as well. But these products give you an income you can never outlive. And it's a great idea to take 20 to 40% of your assets and say, hey, I'm going to put in this and I want to generate the income.

Speaker4:
When we come back, we'll finish this list of the nine ways to live comfortably during retirement. You're listening to retirement results.

Speaker2:
Hang tight. We'll be right back to continue helping you navigate today's financial landscape. Stay tuned for more of retirement results.

Speaker1:
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.

Speaker10:
Hey, this Ford Stokes.

Speaker3:
With Active Wealth Management and the Retirement Results Radio show. Are you worried about outliving your retirement savings. Nationwide's peak ten fixed index annuity is designed to help you feel secure and confident with peak ten. You will receive protection for your principal, keeping it safe from market downturns, growth opportunities tied to market indexes but not invested directly in the market. Guaranteed lifetime income and protection for your loved ones with spousal income options and a death benefit. Call us now at (770) 685-1777, or visit wealth.com. To connect with an advisor and learn how peak ten can help you retire with confidence.

Speaker2:
Investment advisory services offered through Brookstone Capital Management LLC, a registered investment advisor. Guarantees and protections referenced are subject to the claims paying ability of Nationwide Life and Annuity Insurance Company. Nationwide peak ten is issued by Nationwide Life and Annuity Insurance Company. Columbus, Ohio. Neither nationwide nor its other entities are associated or affiliated with Active Wealth Management. This part of today's show. Retirement Results, is available wherever you listen to podcasts and online at retirement Results.com.

Speaker3:
And welcome back to retirement. Results result drivers I'm fort stokes, your chief financial advisor got Sam Davis here with us. This segment for this this show is flying by Sam I'll tell you we're talking about the nine ways to live comfortably during retirement. And Sam, why don't you recap the ones we've covered so far and let's get into these last three.

Speaker4:
This show is flying by. If you miss any part of today's show, be sure to check us out. Wherever you listen to podcasts, just search retirement results and you'll hear me. You'll hear Ford. You'll hear all of the advisors from Active Wealth Management who join the show. Let's recap this list so far of the nine ways to live comfortably during retirement, and then we'll finish it up. Number one is maximize your final earning years to boost your Social Security benefits. Make sure that you're maximizing those benefits. Reach out to us for to put together that Social Security maximization report for you. Step number two is pay your house off. Downsize. Whatever you got to do, make sure you don't have a mortgage during retirement. The happiest retirees we meet with have paid off their mortgage. Number three is continue to make smart reinvestments in your future. Step number four is stay invested. Stick to the course. Don't let emotions get in the way of your smart retirement plan. Step number five is implement a Roth IRA conversion before age 73. So you want to protect yourself from future tax increases and eliminate those required minimum distributions that kick in for most people at age 73. So implement a Roth IRA conversion. Step six, which was the last one we got to at the end of segment three, establish your own personal pension and generate income that you can never outlive. A lot of people like the idea of contractually guaranteed income as long as they live. Add that to Social Security and fill any income gaps you may have. And Ford, that brings us to the last three tips. Step number seven is replace your bonds completely. We've got a couple strategies for that.

Speaker3:
You still want to have reinvestment risk and interest rate risk. It's facing you with bonds. A lot of people really did not enjoy holding on to their bonds from 2020 through 2024, really, at least through 2023, where let's say they held bonds in 2019. Uh, whereas the interest rates went up. Those new interest rate bonds became more attractive. And therefore people had to discount their bonds, um, to make it equal to what the new interest rate was. And so you can lose market value with interest rates going up. And so be careful there. But also why why are you paying advisory and portfolio fees for income. If you're going to generate income from bonds why would you generate income from a bond replacement strategy by replacing the bonds with fixed index annuities and getting market like gains, getting a guaranteed income stream, that just makes more sense to me. And so I think that's a better way to go.

Speaker4:
Yeah, absolutely. So step number eight diversify your accounts. Also diversify your income streams. So with regards to your accounts you want to make sure you've got a good blend of tax deferred taxable and tax free accounts. You know if you're implementing a Roth conversion maybe get more of those tax deferred dollars over to tax free over time. And with diversifying your income streams, most people are going to have Social Security benefits. If you don't have a pension, try to establish a personal pension. And if you have rental income or other outside income, maybe from, you know, municipal bonds or some other vehicle, that's a great idea too.

Speaker3:
Yeah. Also, I would try to diversify accounts between, you know, ETFs, stocks and insurance products like fixed index annuities or indexed universal life policies. So you can truly get diversified instead of because you can get to some smart, safe investments and also some smart risk. I mean, smart risk investments would be invested into managed portfolios that are tactically managed, where they're getting rebalanced at least once a year, I mean, or at least once a month. And then also you want to do insurance products where you've got a contract between you and the insurance company, where zero is your hero and, and your premium is, is not allowed to to go down other than if there's a fee or a spread rate involved. You're not gonna you're not exposed to financial market loss with a fixed index annuity. And I would also say diversify between financial reserve requirements. So you don't want to just have bank CDs where you've only got a 10% financial reserve. I would recommend you invest in a financial reserve product that's got 100% financial reserve requirement, which is what fixed index annuities have because they're regulated by the states, and the states have to balance their budgets. So they require every annuity company doing business within their state to say, hey, wait a second, you've got to put 100% of the money you're putting that you're getting from these clients. You've got to put them into the ten year US Treasury, and then you can take interest off of that ten year US Treasury and invest it how you want. But if the market goes down or the options go to zero, at least the client's money is still there and we don't have to come up with the money to pay the client back. So that's a really good thing to do. I would just diversify completely. If you want to learn how to truly diversify all of your accounts and diversify your portfolio, I would encourage you to reach out to us at retirement.

Speaker2:
Need a higher rate of return from your safe money? Listen up. It's time to beat the bank CD rates.

Speaker4:
Yeah, I would just encourage anybody out there who has a bank CD currently, or maybe has a bank CD maturing sometime soon before you just quickly renew and reinvest at whatever interest rate they're offering you. Get in touch with us here at Retirement and Active Wealth Management, so we can show you the rates that are available on the insurance side of the business that has a 100% reserve requirement. You know, that increased security protection against any bank failures. You know, you're eliminating the possibility of of any bank runs or any failure affecting your retirement plan for that portion of your portfolio. And when you own an FIA or another 100% reserve requirement investment, you know you're really promoting a more stable monetary system. You're going to have more control over what's being done with your money and, and for for a lot of people, that gives them peace of mind.

Speaker3:
For sure. We want to make sure that you, you know, you can direct where you want your money to go and not wonder where your money went. Right. So we're going to do everything we can to help you get a plan, to get a plan together so you can really enjoy retirement and not have to just watch stock ticker every day and just have control over your money.

Speaker4:
So for this, we start the summer here in the South. You know, why would you encourage people to get in touch with us this week and try to meet with the fiduciaries here at Active Wealth and Retirement Results to see what they can do about their plan.

Speaker3:
Yeah. If you don't understand what an expense ratio is, you need to meet with an advisor. If you don't understand the risk you're taking with your investments as measured by standard deviation, if you don't know what that is, or you don't know what the standard deviation is within your portfolio, you really should reach out to us at retirement. Com if you don't have a formal retirement plan in place, you can check year in and year out. I'd encourage you to reach out to us at retirement. Com if you don't understand how you should manage risk in your portfolio as you get older and follow the rule of 100. Then I would encourage you to reach out to us at retirement results.com. Also, if you don't know if you should pay your house off or not, or you don't have a plan for your vehicles or vehicle, then you really should reach out to us because there are strategies you can do as retirees that a lot of people can do when both folks in the House are working. I'd encourage you to reach out to us at retirement Results.com. And also, if you don't have a healthcare plan in place, definitely reach out to us so we can help you minimize the rising cost of healthcare for you.

Speaker11:
It's the final countdown.

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

Speaker11:
The final countdown.

Speaker3:
On today's show, we talked about the financial fundamentals and how to prepare for and live a better retirement. Um, we talked about how to live more comfortably during retirement. Also, how to beat bank CDs. You want to make sure that you're investing into fixed index annuity products to get a higher rate of return, or a multiyear guaranteed annuity rate. We didn't cover that as much today. We cover it on next week's show, but we want to make sure you're investing in 100% financial reserve product, which is a fixed indexed annuity or a multi year guaranteed annuity, or a single premium immediate annuity. Um, we can help you with all that. And we did cover that on today's show. And we talked about the nine ways to live comfortably during retirement, no matter how much you've saved. Number one was maximize your final earnings to boost your Social Security benefits. Number two is pay your house off. Number three was bank the money you're saving from having no mortgage into an investment account. Number four is stay invested. Number five is implement a Roth conversion before age 73. Number six was build your own personal pension. You can never outlive. Number seven is replace your bonds completely. Two strategies for that are fire's and a structured note ladder. Number eight was diversify your accounts between tax deferred taxable tax free and fully diversify between financial products and insurance products. And number nine is accurately calculate your monthly expenses and build a positive income surplus rather than a negative retirement income gap. So you can really enjoy retirement. Thanks so much for listening to us on retirement results. This week and next week we're going to start talking through my book. We'll start with chapter one of the introduction of my new book, The Smart Retirement Plan. Again, reminder you can get my new audiobook on Audible and Amazon. You can also get the Kindle version of Smart Retirement Plan on Amazon as well. 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, VCM and Active Wealth Management are independent of each other. Insurance products and services are not offered through VCM, 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 ADV two item for. For additional information.

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

Speaker4:
And welcome to the Retirement Results Bonus segment, especially for our listeners on Around the Lake, listening on the podcast feed and watching on our YouTube channel. No matter how you listen or watch retirement results, we appreciate you tuning in. And Ford, we've got, uh, as part of our Summer spotlight series. We've got a product to highlight, and this is the Aspida Synergy Choice Bonus, which is an FIA offered by Aspida, an excellent credit rating, a rating of a minus currently, and Ford. What are the highlights of this one and how can this help people prepare for retirement.

Speaker3:
Yeah. So the Espina synergy choice bonus ten is the product we're talking about today. And we're going to talk about a different spotlighted or highlighted product each week over the summer, uh, for our listeners and also for our YouTube listeners, with over 70,000 views over the last couple of months. So also, if you want more information, check out Retirement Results. Com and visit the episode section. But you can also visit YouTube and just type in the search bar retirement results and you'll get us there. So that's pretty good stuff. Espita is an A minus rated carrier, so they're well funded. They're highly rated by a m Best and Standard and Poor's. They are offering a 15% immediate bonus into the account value that vests over the ten years that you hold the product, but they're giving you 15%. So let's say you invest a million bucks. They're giving you Hundred and $50,000 into the account value. Day one. And they're offering you also 75% of how the Invesco Q-q-q performs in a 75% participation rate. And they're keeping 25% of how the Invesco Q-q-q performs. But there's a really great catch here for you as the investor in the in the SPDR Synergy Choice Bonus ten. That is really attractive. There's no downside financial risk and your premiums 100% protected because they're investing into the ten year US Treasury. And they're using the interest that's generated.

Speaker3:
And they're investing into options in the Invesco Q-q-q. This is what's called a hybrid product, but it's hybrid in the best way possible because it makes sure that your money is secure, that you give them so your premium is 100% protected. And let's say those options go to zero after a two year protection period, because the market didn't do well and the Invesco Q-q-q didn't do well over those two years. Well, your money doesn't change because there's no fees. And oh, by the way, your money is invested 100% in the ten year US Treasury and you can't lose your principal or your premium. Now, you may not get the growth on it if the market goes down, but you'd rather be in this product where you didn't lose any principal, which you could have done over the two year period if the market did poorly. Let's say the market does well. If the market does well, then you're getting 75% of how that Invesco Q-q-q performs. And by the way, the Invesco Q-q-q has been one of the highest performing indices on the New York Stock Exchange and on Nasdaq or just basically in the financial markets over the past ten plus years. Specifically, a lot of the Invesco Q-q-q follows. The Nasdaq 100 follows a lot of Nasdaq firms. But they're they're researching these firms and making sure that there's significant growth in technology and new innovation.

Speaker3:
And that's where a lot of the growth that we've seen in the marketplace. And so I'm super excited about one, the index that they selected with this product is fantastic. It's one of my favorite products ever because of that because you know the interest rates great on I mean the participation is great on the Q-q-q. If you can get 75% of how the Q-q-q performs, again, how the Invesco Q-q-q performs. You're winning because your growth is almost like stair steps. It's not looking like the EKG where you're going down. You're just you're setting a foundation. Every two years. They're locking in your principal and your gains, and it's going up as the Invesco Q-q-q performs. What else is nice? There's no other fees. They're just taking 25% of the growth. You're the one bringing the capital to the table. And so it stands to reason you deserve to get a majority of the lion's share of the capital. Giving you 75% is fantastic. The one reason they're putting all this stuff in the product, too, is because they're going with AI and they're minimizing their labor. It's they're putting more of the money in their product. So if you're interested in this, go ahead and reach out to us at retirement. Com or call us at (770) 685-1777. Have a great week everybody.

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

Speaker3:
When it comes to your family's financial future. Peace of mind is everything, and Nationwide's peak ten fixed index annuity can help with a nationwide peak. Ten. You'll benefit from joint income options to help you provide lifetime income for both you and your spouse. A death benefit to provide more security for your loved ones, and protection for your principal so your initial investment is safe from market downturns. Plus, you can receive an immediate 20% bonus added to the income benefit base when you choose the lifetime Bonus plus income rider for an additional cost. Call us now at (770) 685-1777, or visit wealth.com to connect with an advisor and learn how peak ten can help you protect the ones you love.

Speaker2:
Investment advisory services offered through Brookstone Capital Management LLC, a registered investment advisor. Guarantees and protections referenced are subject to the claims paying ability of Nationwide Life and Annuity Insurance Company. Nationwide peak ten is issued by Nationwide Life and Annuity Insurance Company. Columbus, Ohio. Neither nationwide nor its other entities are associated or affiliated with Active Wealth Management.

Sonix is the world’s most advanced automated transcription, translation, and subtitling platform. Fast, accurate, and affordable.

Automatically convert your mp3 files to text (txt file), Microsoft Word (docx file), and SubRip Subtitle (srt file) in minutes.

Sonix has many features that you’d love including transcribe multiple languages, collaboration tools, secure transcription and file storage, automated translation, and easily transcribe your Zoom meetings. Try Sonix for free today.