Protect Your Assets & Your Family with an Estate Plan

6.27.25: Audio automatically transcribed by Sonix

6.27.25: 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 hardworking 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 is your chief financial advisor, Ford Stokes.

Speaker3:
And welcome to retirement results. Result drivers on Ford Stokes with chief financial advisor got Sam Davis here with us. He's our co-host and senior financial advisor. Sam hello everybody.

Speaker4:
Welcome to the weekend result drivers. Thank you so much for tuning in to retirement results. We've been bringing you this show for over five years now here in the Atlanta area and across a few different states during that time as well. And really our goal is to bring you important information that you're just not being told out there and help you understand your money better and help you understand your money for the very first time in some cases. And it's all about building that retirement that you can count on and getting the results you deserve.

Speaker3:
Yeah, it's it's going to be a great show. This week we are talking about how to leave a legacy and not a mess, the importance of planning ahead for retirement and beyond. And also we just like to thank all the result drivers out there who've made us the number one listen to radio show on Am nine, 20 and on the weekends. And also thanks to all the folks around the lake and up in Gainesville and Hall County and beyond that are listening to us on one. Really appreciate you guys and gals that have made our show a really fast growing show from a listenership perspective. Thanks for allowing us into your radios, allowing us in your homes if you're listening on the apps. Also, wherever you get podcasts, you can listen to retirement resources by searching for retirement results. We get it published by casinos and it goes everywhere. So super excited about that too. We've had now over 80,000 views of our videos on YouTube, so check out the Retirement Results YouTube channel which is really excited about that. So that that was a big milestone that came up this week. But if you're wondering who a result driver is, if somebody listens to this show, is somebody who is looking to build a tax efficient, fee efficient and market efficient portfolio for a successful retirement, they want to make sure they can protect and grow their hard earned and hard saved wealth safely and all, you know, with some smart risk, but also some smart, safe investments.

Speaker3:
Some bond replacements also consider deleting the IRS out of being their partner in retirement by implementing a Roth ladder conversion. That's who a result driver is. I'm sure you'd like to pay as little in fees as you can, and pay as little in taxes as you can during retirement, so you can spend more of that money traveling, or relaunching a career, or supporting your family, or just enjoying retirement with your spouse and your family and friends. We hope you enjoy listening to retirement results. We've got a lot of longtime listeners. We're looking for you to be a first time caller this week. Feel free to reach out to us at 77068517777706851777. Diane and her team are standing by to take your call. Um, last week we had a lot of calls because we, um, had a conversation with Matt McClure, who was, um, in the seat for you, saying while you were out, um, playing the member gassed up there in Kansas City with your father in law and I can't wait to hear how that went. But also just wanted to say it was great to have Matt on. Both of us are registered Social Security analysts. If you're curious on how you can maximize your Social Security income, again, I would encourage you to reach out to us at (770) 685-1777 again (770) 685-1777 or visit retirement results.com.

Speaker3:
That's retirement results.com. So in today's show we're going to talk about the important updates about Social Security, keeping our listeners informed about what's going on with Social Security and what information came out from the Social Security Administration this past week. Also, we want to help you leave a legacy and not a mess. We're going to help you take steps to avoid being a burden on your family, even after you're gone. We've also got tax efficient transfers and getting started for yourself. One other thing. At the beginning of segment two, we're going to talk about bond replacements, Specifically about investing into products that don't go to account. Value zero. Of $0 in your account value after 12 to 14 years. By having your investment placed into a fixed indexed annuity that's got a high participation rate in the index with high illustrated rates. So ostensibly they're going to outpace your withdrawal rate. So if they if the growth rate outpace the withdrawal rate, your principal remains, your account value grows while your income continues to roll in month after month, year after year. So we're going to talk through that in depth in segment two. But we're going to get started on these important updates about Social Security right after Sam gives us our financial wisdom. Quote of the week.

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

Speaker4:
The time to repair the roof is when the sun is shining. And that quote is from former US President John F Kennedy Ford. I think that is a great quote for this time of year, especially in Atlanta, Georgia, because the sun has been shining down. It has been hot here in the South. And it's just a great quote. The time to repair the roof is when the sun is shining. When things are good, that's when you need to optimize your situation. You want to make sure that you're prepared, not scared, and that you are getting a plan in place before that rainy day. You know, don't wait until the rain comes to fix the roof. Make sure you've got your plan patched up ahead of time for sure.

Speaker3:
I mean, it's, you know, you plan your work and work your plan. As my dad says, that's that's one of the keys to his success. The other key to his success is show up and finish. So you want to show up in your job, you want to show up with your company. If you own a company, you want to show up all that stuff. But I would say also, you want to show up on your financial plan or your retirement plan. You know, here's a fact. More people, a majority of the people in the United States, they spend more time planning their vacation in the summer or the spring break than they do planning their retirement in a given year. We ought to do better than that. And if you want to get started and you want to try to get on the right path, and you're looking to get a free portfolio analysis, a free register Social Security analyst roadmap from myself or Matt McClure, both of us, a registered social security analyst. Or if you want to get a retirement income gap analysis, you want to get also financial plan your 95th birthday. You also want to get a financial plan your 95th birthday with our recommended portfolios and a strategic Roth ladder conversion plan. Then I would I would encourage you to consider reaching out to us at retirement results. Dot com forward slash plan. That's retirement results. Com forward slash plan is a $2,500 value. You're going to get all that planning? Absolutely. For free, just because you are a result driver. You are a listener to the Retirement Results radio show, and we're here to help you. We're fiduciaries. We've got to put your needs ahead of our own. And we're also going to give you that bond replacement strategy that we're going to talk about in depth here in segment two. But Sam, go ahead and share the important new updates from Social Security.

Speaker4:
The 2025 Social Security and Medicare Trustees report has been released, and this has provided some updated projections on the financial health of our nation's key retirement and health care programs. This report confirms that we do have ongoing funding challenges, and it reinforces the need for some proactive, informed planning. So we're not going to go into the full report. If you want to check out the Social Security and Medicare Trustees report, you can find that online. But we've got a few key takeaways here. The old Age and Survivors Insurance Trust fund, that's the OAC trust fund. It is projected to be able to pay 100% of benefits until 2033. I'll say that again it can pay 100% of benefits until 2033. That's only eight years away. That's the same year as last year's estimate, but reserves are expected to run out three quarters earlier. So while the report looks like there's been no change, we've actually lost three quarters of a year, according to the trustees report. Also, if the OAC and disability insurance trust funds were combined, full benefits could be paid until 2034. So that gives you an extra year. But you're still looking at right about eight years away and at depletion. At that point, they anticipate 77% of benefits would be payable without changes. So what this is looking like now is a 23% reduction in benefits in about eight years. Now of course you're going to get cost of living adjustments over that time. As you know, they determine that if there's been enough inflation they'll give you those adjustments each year. Um, but you're looking at a serious reduction. And, Ford, before we go deeper, just kind of your thoughts as an analyst. You know, it's important for people to maximize their benefits. And it's pretty discouraging when you see that we could be eight years away from a reduction if Congress doesn't act.

Speaker3:
Yeah. I mean, you're looking at 23% across the board cut if Congress doesn't act by 2033. My take on that is Congress needs to do something. I also the Republicans want to make sure that they keep the House and the Senate. Uh, the midterms. What I would encourage them to do is to try to fix Social Security before the midterms. It's a crime that they haven't fixed Social Security. It's a crime that I think it's awful that Biden decided he was going to use Medicare dollars on the Medicare Part D dollars to fund his his solar energy stuff, and therefore, the part D premiums have gone through the roof. Um, and you're going to see that in open enrollment again as a registered social security analyst. The answer is never, okay, just take it as soon as you can because you don't really you deserve more than $0.70 on the dollar what you've put in. When we come back after the break, uh, we're going to talk about more Social Security and how you can supplement your retirement income and how to replace those bonds smartly. Right here on retirement results on Am 920. The answer and one retirement results.

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

Speaker6:
Change your mind. So long with you.

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. Then than 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.com investment advisory services offered through Brookstone Capital Management LLC, a registered investment advisor. Visit retirement results for more information, visit retirement.com to schedule your free, no obligation consultation today. Now back to the show.

Speaker3:
And welcome back. Results. Drivers to retirement results on Ford Stokes with chief financial Advisor. Got Sam Davis here with us. Our senior financial advisor and co-host Sam we're talking about Social Security right before we're going to talk about this bond replacement strategy and the smart way to do it. And then we're going to talk legacy in segments three and four. So quick question to all the listeners out there. Do you guys have a plan for the eventual loss of one spouse when you're going to lose about 33%, at least of Social Security income coming into the household on the day. Basically, that your date of death of your spouse on the death certificate. Kind of a question mark there. If you don't have a plan for that, we've got a plan for you. We can actually help develop an income generating product that you could turn on income as soon as that happens. And all you have to do is reach out to us at (770) 685-1777 or visit retirement results com forward slash plan. That's retirement plan. Sam, your thoughts on what people should be doing with Social Security and also just planning for the eventual loss of a spouse.

Speaker4:
Yeah. Well, first, it's.

Speaker3:
Just.

Speaker4:
A reality. Like you said, when the first spouse passes away, you're going to lose at least a third of that Social Security income coming into the household. And that's because a lot of the reports we run when we do our analysis, the one spouse will often be claiming a half of their other spouse. And so when the you get to keep the larger of the two benefits when the first spouse passes away, so you lose a third. But if you're in a situation where you and your spouse make about the same, it could be looking like losing more like half of your Social Security income coming into the household. So that's a reality that everyone is facing. Also, you have the Social Security Administration, you have the Medicare trustees report. They're coming out and saying, hey, you're looking at a 23% reduction in about eight years if Congress doesn't act. And, you know, personally, I would like to see a removal of taxation on Social Security. I would like to see more means testing as it relates to Social Security, so that the retirees and the people that we're working with, Ford, so often in our community, uh, have more income and fewer taxes. I think that would be good for a lot of the people that we work with.

Speaker4:
Right. So, you know, you have these things that, you know, you're going to have an income shortfall as you age. So what are you doing now to account for that plan? You know, meanwhile the national debt for we have ticked over 37 trillion of the US national debt in this past week. So, you know, continued concerns out of Washington, D.C. you know, we we hope that our elected leaders can do what is right, especially for those baby boomers and retirees. We've got more than 10,000 retirees, new retirees every single day. Um, and, you know, this is just a good time. If you didn't hear last week's episode for you and Matt McClure, who's our reporter and Social security analyst also here in the office, you guys did a great episode while I was out about Social Security. You can check out the Retirement Results podcast wherever you listen to podcasts if you'd like more information on that. And also, Ford, as an analyst, you are running these roadmaps to help people maximize their benefits because the Social Security Administration will not because they are not allowed to give personal advice on how to claim your own benefits.

Speaker3:
What's interesting is Matt and I, together we add up to a little bit less than 10% of the registered Social Security analysts in the state of Georgia. There's like 23, 24 of us now in the state of Georgia. And two of them work for active wealth management, where the advisors that actually power retirement results and power the content for this retirement results radio show. It's giving back to Sam the on the 37 trillion. I did have one positive piece of information. Doge has actually saved $530 billion. Um, so far. So the Doge clock is legit. So I'm super excited about how Doge is doing and what they're doing. So that's helpful. But it is really frightening that we're ticking up over $37 trillion. And we just don't need to keep doing that. I mean, we just don't we need to start stop being a destination and figure this thing out. So super excited about what Elon Musk and the Doge team did. And, um, also just proud of what Donald Trump's doing. Great job on taking the Iran nuclear capabilities out immediately. And it just and decisively I think that was an incredible operation last week. Um, last Saturday night, um, that was really positive. Glad that that's done. So they can't sit there and develop dirty bombs that could be just brought into the United States.

Speaker3:
So super pumped about the job that they did. And congratulations to all those U.S. servicemen and women that were on that mission. There was actually a female bomber pilot that was part of that mission. And, uh, because she was really good and it was amazing. They I think they flew 44 hours straight. So that's that's a lot. And, um, they refueled and did all that. I think they also gave the Russians a little bit of pause. Um, and the Chinese pause because they couldn't believe how the US did all that undetected. And Iran didn't even get their fighter jets off the ground. So, um, Russia's defense systems that that Iran buys, that they couldn't detect it. So pretty excited about what happened there. Um, but back to Social Security. You really need to. It's an individual decision. And if you want to get started on getting a registered social security analyst roadmap for your Social Security, or you could just reach out to us at retirement results.com/plan or just visit retirement results. Book that um consultation. Just click that button in the upper right corner of our website and you'll get put directly into our calendars, and I'm happy to meet with you. We look forward to all that.

Speaker4:
You know, for in a few weeks ago at the Reagan Economic Forum, you know, Jamie Dimon said that we are going to see a crack in the bond market. And we're still seeing on a lot of the analysis reports that we run for people who give us a call at (770) 685-1777, or visit us online to schedule that appointment. We're seeing a lot of bonds in people's portfolio, and it makes sense because it was a tried and true strategy for so many years. We saw a lot of 60% stock, 40% bond portfolios, but lately it has not been the best asset, particularly for those folks who are approaching retirement. So Ford, could you kind of start to talk a little bit about what we do when we see things like that?

Speaker3:
Yeah, I mean, we try to replace the bonds like 20 to 40% of your portfolio that gives you income. We try to replace those with fixed indexed annuities. And one of the things that we see a lot of people will come in with a fixed index annuity where the interest rate or the growth rate and the participation rate on some older annuities is not outpacing the withdrawal rate. And that's a concern for us. We like to invest our clients money into fixed index annuities that are likely, at least from an illustration perspective, showing that they're going to outpace the withdrawal rate over time, where your account value grows and you continue to get withdrawals. Typically and traditionally a lot of fixed indexed annuities, their account values go to zero between 10 and 14 years. But they contractually have to keep paying you out your money. Well, we don't want to see is that happen? We want to make sure that your heirs have money left over from the annuity so they can inherit and enjoy. And then also you got to enjoy the withdrawals from the annuity. So we're not trying to do these like a traditional pension that's usually funded by a CPA which is a single premium immediate annuity. That's what you know is less than 16% of fortune 500 companies or S&P 500 companies are actually offering a pension these days. Those pensions are implemented with a company with a product called a single premium immediate annuity.

Speaker3:
So when you retire, they take all the money you saved up for the pension. They put it put into a CPA and then they pay you out. But there's no money left over when you're done. When you when you actually pass away, what we like to do is invest in fixed index entities that get you market like gains without market risk, and hopefully those indexes perform. So therefore your market like gains can outpace the 5% withdrawal rate. That goes up 0.1% a year each year. The you age generally after age 65. So just don't make that mistake. Make sure you're in. You're asking the question of, hey, wait a second. I want to make sure this fixed indexed annuity doesn't go to zero and account value. After I start taking out withdrawals 10 to 14 years later, I want to make sure that it's got account value that's going to be there because I want my kids to be able to inherit this money, too. You can't actually have your cake and eat it too. You really can't. All you got to do is reach out to us at retirement results.com/plan. We have access to products that only like 1% of advisors have access to, and I would encourage you to reach out to us and give us a call at (770) 685-1777, and we look forward to helping you.

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:
If you've got credit card debt, you are not alone. I'm Matt McClure with the Retirement Radio Network, powered by Amira Life. Consumer debt is piling up in this country. In fact, the Federal Reserve Bank of New York says as of this year, Americans hold more than $1 trillion in credit card debt. That's trillion with a T and the average interest rate, it's hovering around 20%, sometimes even higher. That means if you're only making the minimum payment each month, most of your money isn't even touching the balance. It's going straight into the lenders pocket as interest. And that debt. It adds up quietly, consistently and often painfully. One of the smartest money moves you can make is to avoid going into debt in the first place. Robin growly is head of consumer deposits at Bank of America.

Speaker7:
Even if you're spending with a credit card and you have a bit of a higher limit, don't max that out, right? Just spend with what you've allocated for in your budget. But any time you're spending on that credit card, you have to make sure that you're paying that monthly balance off on time and in full, because that's really the key to building your credit history.

Speaker1:
But maybe you're not there right now. If you feel like you're drowning in a sea of credit card debt, there is hope out there. A debt management plan, often offered through nonprofit credit counseling agencies, can help you consolidate those payments into one monthly amount, often with lower interest rates. These aren't shady payday loans or too good to be true adds experiences. These are regulated, real programs built to get you back on your feet. And here's why that matters. Your credit score growly says it's not just a number.

Speaker7:
Well, a good credit score is so important to our financial journey, right? And all the doors kind of that good, good credit score can can open for us. So things like renting an apartment or getting a favorable rate on an auto purchase, a good credit score is so important to be able to do those.

Speaker1:
And so if you've been avoiding your statements or feeling the stress build every time your phone lights up with a balance alert, make a plan and ask for help if you need it. Because this isn't about shame, it's about taking back control. With the Retirement Radio Network powered by a life. I'm Matt McClure.

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

Speaker3:
And welcome back. Results. Drivers on board stocks with chief financial advisor. I've got Sam Davis here with us, our senior financial advisor and co-host, and we're talking about legacy. Now we're going to get to the legacy planning. It's the main part of this show. We're trying to remove stress and the burdens for your loved ones as well. I mean, as you approach your entire retirement, the focus often shifts from building wealth to preserving it and ensuring that it benefits your loved ones. Unfortunately, many people kind of unintentionally create stress for their family by leaving behind a mismanaged financial situation. But you could avoid leaving that kind of legacy with smart and simple planning. We work with a service that also puts us in touch with licensed attorneys in the state of Georgia, or any state we can work in all 50 U.S. states. If you're listeners on the podcast and we can get we can get started on that and make sure that you get a revocable trust or a will in place, um, at a much lower cost. Uh, it's usually just a fraction of what it costs. We, we started partnering with this service because we couldn't believe how expensive it was getting post-Covid or even during Covid. On the state plane, they just started charging more and more and more and more for trust and wills, and it was just driving us crazy.

Speaker3:
So we found a service for our clients. We don't share the fees with those attorneys either. Um, but legacy planning is a critical component of this process and helping you manage and communicate your financial obligations to prevent your family from inheriting debt and emotional distress. It's kind of a big deal. So getting started. The first step in effective legacy planning is to take a comprehensive inventory of all your outstanding debts and liabilities like your mortgages, your credit card balances, your personal loans, business obligations, then your strategies to protect your legacy. You've got life insurance and irrevocable trust. Those are great. And also revocable trust is another thing to consider. Um, but an irrevocable trust Setting up an irrevocable trust can remove assets from your estate, making them inaccessible to creditors. Once the assets are placed in an irrevocable trust, you no longer own them and any changes to the trust must be approved by the beneficiary. You've also got life insurance policies, where the proceeds from life insurance are typically considered not part of the estate, and are distributed directly to the beneficiaries, bypassing the probate process. This can provide a financial cushion, if you will, to help your family manage any remaining debts. I mean, literally legacy planning is just it's kind of vital. It's a vital process for retirees and those nearing retirement. Once you've taken stock of your financial obligations and structured your estate plan to manage debts, communicated openly with your family and consulted with an experienced estate planning professional, you can ensure your legacy will be one of financial security and peace of mind for your loved ones.

Speaker3:
Look, if you want to get access to this service that we provide that we've partnered with, you can reach out to us at (770) 685-1777. Again, that number is (770) 685-1777 or retirement results. Com forward slash plan. If you've always wondered about hey should I do a will. Should I do, um, a revocable trust or irrevocable trust. Reach out to us at retirement results. Com forward slash plan. Put your information in and we'll reach out to you to get started right away. Sam, you've got a really important story with your wife, Bailey, and what she went through as a 16 year old when she lost her father. And, um, I if you could just try to discuss that. It was so important that her dad did a really good job at defining what she was going to get when he passed away, um, specifically his IRA and also ownership of their, uh, part ownership of their lake house, because he also had a step. She had step mom. She he was married again. He was divorced from her mother and married again. And if he hadn't done that, gosh knows where Bailey would be today.

Speaker4:
Yeah. And it just goes to show, you know, how important something as simple as naming your beneficiaries is and making sure that it's accurate and what you want it to be. I mean, don't be one of those stories of, you know, having a former spouse or something on your beneficiaries list if you want it to now be one of your children or your new spouse. But, uh, in her situation, her father passed away right around the age of 60. It was, uh, unexpected accident. He had a he had a heart attack, and he passed away, and she inherited his IRA from work. And we've actually used this as an example sometime on previous episodes with, you know, had that been a Roth IRA, there would have been no tax implications. But she actually does pay taxes on those required minimum distributions based on his age this year, because this happened back around 2012, and it was important that she was named as that beneficiary because it made the process easier. She was 16. Uh, she ended up needing to find somewhere to live. She was trying to pick where to go to school and actually pay for school. And had that not been put in place, it would have been difficult for her to get the assets to get things that she needed and didn't have, like a, you know, a car and a place to live and, and start paying those college bills about a year and a half later.

Speaker4:
So it's important if you haven't actually sat down with your spouse or started to talk to your family as you get older and into retirement about your retirement plans and your legacy and your wishes, you know now's a really good time to do that. You know, sometimes I feel like when we're sitting at the table with clients here in the office, you know, we see that. Oh, wow, they're talking about this stuff for the first time. And a lot of this stuff is coming out. But it's important to have that conversation now before something happens, you know. Think back to our quote of the week JFK. You know, the time to repair the roof is when the sun is shining. Make sure that you get that plan in place before the storm comes. It'll make that process a whole lot easier. And Ford, I think one of the things that people want most, they just don't want to be a burden on their families. They get older. They want to be looked at, as you know, that wise older family member that was really with it and did the right things for their family.

Speaker3:
Yeah I agree. And and you're you and Bailey talk about that situation in such a poised manner. But I if it's okay, I'm going to just describe a little bit more detail. So her dad passes away. She's 16 years old. She's a cheerleader competition cheerleader Later the day the funeral's over, and and and Bailey has to pay for the funeral. The stepmom kicks her out of the house, puts all of her clothes and everything in trash bags, and puts her on the street. She's 16. Okay. Then she's sofa surfs and and sleeps on people's couches at friends that are on her cheer team for about a month, a month and a half, two months. And then her cheer coach adopts her. Her cheer catches in her mid 20s. That's crazy. The stepmom sues Bailey, trying to get more of the assets had her dad not set the boundaries. And here's what you get. And here's what my my daughter gets. Gosh knows where Bailey would have been after that. It's unbelievable to me. What she went through. I mean, I mean, literally. That stepmom is like a step monster out of a Disney movie. Like, she's the. She's Cruella de Vil out of 101 Dalmatians in my mind. It just goes to show you how important it is to actually get all this stuff set in order and set. So I'll let you kind of I, I know I'm sharing more of what happened with Bailey, but I'm gonna let you kind of finish up the story. But it is unbelievable to me.

Speaker4:
Yeah. Well, really, she just needed, as you know, as a 16 year old, she really just needed some time. And, you know, you're a young woman at that point in your life, she needed to bridge that gap to college. You know, she was already applying at colleges, looking at different places to go. Um, but then she was kind of left without a plan and nowhere to live and no one to support her. And and thankfully, uh, her cheer coach stepped in and and we've really been welcomed into that family. So when I think of my in-laws, I think of that adopted family who who welcomed her in. And, you know, regardless of what your family structure looks like, it's important that, you know, this money that you've worked so hard for gets passed down in the way that you want. You know, I tell people there's only three things you're ever going to do with your money. You're going to spend it, you're going to lose it, or you're going to give it away. And those three things will happen to your money. And when it comes to giving it away, make sure it's done in, in the way that, that you want because, you know, after you're gone, that's one of the only, you know, pieces of power that you have left is what happens to your assets. So that's why it's it's so important to have a legacy plan. And once you get that smart financial plan in place, make sure that smart legacy plan is in place as well for sure.

Speaker3:
All right. We come back to the break. We're talking more about legacy planning and how to get everything swept clean with your will or trust right here after the break, or listen to The retirement results on Am 920. Answer and.

Speaker2:
Retirement results. We'll be back in a moment, but in the meantime, take a moment to schedule your free meeting with us at retirement results.com forward slash.

Speaker6:
70.

Speaker1:
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Speaker3:
Hey, this Ford Stokes 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 Nationwide 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 Active Wealth. Com to connect with an advisor and learn how Peac ten can help you retire with confidence.

Speaker2:
Investment advisory services offered through Brookstone Capital Management LLC, a registered investment advisor, guarantees and projections 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. Miss part of today's show. Retirement results is available wherever you listen to podcasts and online at retirement results.

Speaker3:
And welcome back to retirement results. Result. Drivers on Ford. Stokes, chief financial advisor. Scott. Sam Davis here with us. Our senior financial advisor and co-host. Who's back Sam, before we finish up this legacy conversation in segment four, you're going to have to share how you did with your adopted father in law. Um, I know that he's actually your father in law, but his wife, uh, and actually adopted Bailey when she was 16. So how did you guys do at Kansas City? What? What country club were you at? What golf club were you at? And and I understand you did a good amount of carrying in the first on the first day.

Speaker4:
Yeah. And so we were out at shadow Glen Golf Club in Olathe, at Kansas, and it was just as hot in Kansas as it was here in Georgia, so I didn't have to look at the forecast or anything to pack. It was just a lot of shorts and golf shirts, and the wind was blowing about 30 or 40 miles an hour, so it didn't take long for me to remember where I came from. And the wind's blowing across the prairie there, and they had the rough, grown out thick, and they had the greens rolling fast. Um, four straight days of golf did have to do some carrying on the first day. I started with a a birdie on the first hole and shot 40 on that first nine, which is a good score for me. And by the end of the tournament, he was carrying me a little bit. Um, and we needed to ham and egg it a little bit better in the middle to, to actually compete for that title. But the important thing is, uh, father in law said I did enough to earn an invite back in the future. And we had a we had a good time. You know, it's it's not often that you get to spend that much time with family. If you've ever played a Round of golf. It's at least 3 or 4 hours, so it's got some good quality family time. I got to see some of the the in-laws and the cousins while I was out there, and it was a it was a good trip. And I got to hear you and Matt do the show. Last week when I was flying back to ATL, Hartsfield-Jackson airport, I was listening to retirement results and it was refreshing to hear a voice other than mine on the air.

Speaker3:
Yeah. It's good. I mean, Matt does a great job, and, um, it's just neat to have to register Social Security analysts now that can help people maximize their Social Security income. One question I would ask folks that are listening is if you had the chance to maximize your Social Security income, why wouldn't you? So let's do that. So reach out to us at retirement results. Com forward slash plan. Sam, I'm glad that you had a good time. I'm glad you played well enough to earn the invite back to be the guest. The member guest for your your father in law. So that's awesome. Um, and he's pretty successful up there in Kansas City, Missouri. He's a private equity guy. And, um, just it also. I mean, he and his wife, it your mother in law, they're just incredibly successful people are willing to inherit, you know, actually adopt a child when they're in their 20s, um, when they're 16. So that's pretty great stuff there. Uh, but, yeah, we're glad you're back. Uh, we missed you. Uh, but Matt did a great job, and it was neat to kind of do a show that's 100% dedicated to Social Security. Um, because I think it's, you know, it's an important component income wise. Um, so that's that's important. You wanted to share a few things about what you people can do with your money, kind of follow on what you were talking about last segment, and let's kind of do that now.

Speaker4:
Yeah. So, you know, I tell people there's only three things you're going to do with your money. You're going to spend it, you're going to lose it or you're going to give it away. That's really the only three things that can happen to any dollar you have. And talking about legacy planning and estate planning on today's show. We've definitely covered the give it away and and make sure you're giving it away to who you want to give it away to. And and you're doing the plans in advance, you know, as far as, you know, spending the money. We want to make sure that you have a plan because too often for people feel like they have a retirement plan. And when they come in to meet with us, they may have a very nice looking spreadsheet. They may have a few different account statements, but they don't actually have a written plan of how they're going to accumulate that portfolio and get those assets out. They feel like, oh, I'll just dip in when I need the money, and that'll be able to give me the income I need to live on. But if you're pulling off of a, you know, reduced asset, if you needed to make your withdrawals this past April, for instance, during the tariff tantrum when the market really dropped down there, that is locking in some losses at a bad time, and there's just a lot more efficient ways to generate the income you need.

Speaker4:
And specifically on the lose it, you know? It's just a fact of life. We're going to lose money. We pay money in fees. We pay money in taxes. You know, we lose money from time to time. You know, investments may not always work out, but through an analysis and getting that retirement plan done in advance, you can really minimize the ways that you lose money by planning for taxes, you know, eliminating fees from your portfolio. If you're with an advisor and you don't know what your expense ratio is, you should really find out what you're paying for in fees on your portfolio. So, you know, we've kind of checked the box on giving it away this week before, kind of just. What are some of your thoughts on best ways to spend your money, and the best ways to make sure you're not losing your money?

Speaker3:
Well, number one is let's try not to exceed a 4% withdrawal rate from your current assets. Let's try to stay close to that. Also, if you need a greater income from your assets on that, on those fixed indexed annuities. And they're also allowed allowing the rest of the portfolio to grow. So let's try to implement that. It's a really good income strategy. Listen. Retirement is more about accumulation. You're going from accumulation when you're working, where you're saving 15% of what you're making, hopefully, um, and it's putting into your 4K, etc.. What I would encourage you to do is try to change strategies when you get into the accumulation phase. And let's get a better, more efficient way of distributing money to you. Also, let's look at considering Roth ladder conversion so you can delete the IRS out of being your partner in retirement. Let's try that. And if you've got questions on how to do that, we do it all the time. We do that tax planning not necessarily the tax prep but the tax planning out there. Just go ahead and reach out to us at retirement results.com/plan. Because when you're withdrawing money to go enjoy your time and your money and travel and go on cruises and things like that, you're going to you're going to be taking money out. And it'd be better if you didn't pay taxes on that money, or at least you're growing the rest of your money tax deferred. So we want to help you do that. Just reach out to us at retirement results. Com forward slash plan.

Speaker6:
It's the final countdown.

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

Speaker3:
And listen, if you've been a long time listener, let's be a first on call this week. Go ahead and reach out to us at (770) 685-1777. Again (770) 685-1777. And again, thanks so much for letting us be the number one listen to radio show on Am nine, 20 and on the weekends. I hope you've enjoyed this this show with all the legacy planning we've talked about, and also what you need to do on bond replacement and how to not take your assets down to zero with different types of financial products. We can help you make sure that your your financial products continue to grow, specifically the income portion of your products. And listen, remember, if you're seeking information about Social Security or seeking information about retirement, if you're seeking information about income for retirement, you're seeking information about legacy planning and whether I need a will or a trust, things like that. If you're going to be a bear, be a grizzly. I'd encourage you to seek as much information as possible, but reach out to us at retirement results. Com or call us at (770) 685-1777. Let us help you do that. Let us help you get everything broom swept clean with your entire retirement and legacy plan. Absolutely no cost to you on the front end. And we only make money when we manage money. So our goal is to make sure that our flat fee continues to grow and therefore your portfolio grows along with it. We're on the same side of the table as you, and we make more money when you make more money, and we are here for you. All you gotta do is reach out to us at retirement results.com. Have a great week everybody, and we'll be back next week talking about more ways to plan for a smart retirement and a successful retirement for your retirement future.

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. Investment advisory services offered through Brookstone Capital Management, LLC, BCM, a registered investment Advisor, PCM and Active Wealth Management are independent of each other. Insurance products and services are not offered through BCA, 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 four. For additional information.

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 turbocharger for the retirement radio network. Powered by a marine life. According to a report by USA today, a 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 homeowner's 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 ensure 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 a marine life. I'm Jim Trabajar.

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

Speaker4:
And welcome to the Retirement Results Bonus segment. Thank you to all of our YouTube viewers, our listeners on the Retirement Results podcast fee, and of course, our new listeners on the radio up and around the lake on WW and Ford. On this week's bonus segment, we get a lot of questions from folks, and we're helping them turn their portfolio into a pension. How exactly do these indexed annuities and these fixed indexed annuities work, and how are they able to pay me contractually guaranteed income for the rest of my life? And so for the next five minutes, that's what we're going to talk about on this week's bonus segment.

Speaker3:
So what they do and I'm going to hold up a piece of paper here. So what they do is they require that, you know, all the states run They manage all of the fixed indexed annuities. So the states run the regulation of all fixed indexed annuities, not the federal government. And the states have to balance their budgets. So what they do is they require the annuity companies to put 100% of the money you give them into the ten year US Treasury. And then what they do is they take the interest that's generated off that those ten year US Treasury bonds, and they invest into options in things like the S&P 500, the Nasdaq 100, the Russell 2000, the Wilshire 5000, the BNP Paribas Global Factor Index, uh, the Invesco QQ index, and a host of others. Conversely, if you were to compare it to bank CDs, bank CDs, really the the top end requirement on bank CDs is a 10% financial reserve requirement. Fixed index duties have a 100% financial reserve requirement. First of all, myself I would feel much more comfortable with my money being in 100% financial reserve product than a 10% financial reserve product. As an example, throughout my career. The ten year U.S. Treasury has been averaging right around 1.4 to 1.8% in annual interest. So if you put 100 grand in, you're making 1400 to $1800. Not a lot of growth on that money. And then they would then be able to take that money and then use that to buy options in these indices. So therefore they can do. It can be you can get index like growth. Well today as of the recording of this video, the ten year U.S.

Speaker3:
Treasury is yielding 4.26%. That is literally triple of what it's been throughout my career. And therefore they can give you a lot more of the gains and and give you a lot more growth on your money. There's really never been a better time, in my opinion, to be invested in fixed indexed annuities versus bank CDs or versus brokerage CDs or versus anything else out there that's fixed and safe. Well, the nice thing about fixed index annuities is there are hybrid products you can get market like gains without market risk. So let me just show you. Let me just tell you how these things can work. So with the nationwide pick ten again if you've got if the index does 10% over the two year protection period and you're getting 310% as of now times how the index does, that's 31% less a 1% spread rate. You're getting a net of 30% growth on your money over two year period. It's called a protection period because they will also lock in your gains at the end of this two year anniversary, because that's you've got you're invested into a two year protection period each and every two years. So let's say you got a million bucks, and all of a sudden you get $320,000 in growth. They're going to lock in that 1.32 million, and then you can't lose money from there because they're going to invest the money back in the ten year U.S. Treasury. That's how these hybrid products work. They just take the interest from this generated from the ten year U.S. Treasury, and they invest into the options.

Speaker3:
Now listen, if the market goes down like we saw it go down in April and they came back a little bit, but let's say you were in a one month protection period and and like in April and it didn't net out to be positive. Your money is still 100% invested into the ten year US Treasury. So zero is your hero and all you're doing is losing the the interest off of it. But if you have growth on it, then you're getting a multiplier, a factor of 3.1 less a 1% spread rate and then that nationwide peak ten. If you invest in the synergy choice bonus ten, you're looking at, you know, a 75% growth on how the Invesco QK does without any downside risk. How many of you out there would actually like to invest in the Invesco QQ? Only get 75% of the growth, but be guaranteed you'd never lose a dollar? I think a lot of us would jump at that situation. These products are not too good to be true. These products actually work, and they far outperform bonds because bonds are exposed to reinvestment risk and also to interest rate risk, as we saw during the Biden administration when interest rates were going up, the bonds you previously held were worth less because everybody wanted the higher paying interest bonds. If you've got more questions about this, reach out to us at Retirement Results. Com and or get my free book, The Smart Retirement Plan. It's an ebook and you get it by Putting your information in at retirement results. Dot com forward slash plan retirement results.com/plan. Have a great week everybody.

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

Speaker6:
In every move you make.

Speaker2:
An active wealth management. We know you've worked hard for your money, and you've worked even harder to save it. When it comes to wealth management and planning for retirement, Ford Stokes of Retirement Results is passionate about helping people protect and grow their wealth while educating them on all their options so they can choose what's right for them. Visit retirement results to schedule your no obligation consultation today. It's a $1,500 value provided at no cost to you. Book yours now at retirement results.com.

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