Talk 980 am>Audio on Demand>>Retirement Elevated Show 06.25.16

Retirement Elevated Show 06.25.16

Jun 29, 2016|

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Automatically Generated Transcript (may not be 100% accurate)

This is retirements elevated with a shot aliens got two game and the retirements fuse network's general reset. John Scott have nearly three decades of combined experience educating and assisting retirees and pre retirees. Has trusted financial advisors they've been featured in national publications including the Wall Street Journal and USA today. This is retirement television with Sean Lee and Scott do you ponder retirement. News network. Hi there thanks for joining us today our retirement elevated radio this is where Sean Lee and Scott Dugan will hunt you plan well retire well and live well and I aim your post gender redact with the retirement news network in the studio today. As we gig on this Saturday he hears something may wanna get some answers on May be wanna sit down was shot her Scott or someone on their team. Get that second opinion to make sure your plan is on the right track number to call is 800. 8842077. Men number one more time his 800. 8842077. With that's shot Scott welcome to the studio hoping guys are have a great weekend. Glad you guys to be your nation on how about you. Our ready to be back connections. To weakens their feet and he's radar all right well you know we we are pretty good show lined and today we're going to be talking about saving vs generating income in retirement that both get into the topic. Yeah I must spend a few minutes talking about some of the things having gone lately. I know you guys make it such an ass first you not only educate yourselves that educate your clients as well on things that are going on. In the industry. One of the headlines we've been hearing about quite a bit is what's going on with this Department of Labor ruling and is guiding everything you want to mention on that. This idea and it is very fortunate to you spend two days in Washington DC. I'm meeting with horror name. Congress people and senators. Talking about the impact of this new rule only on the advice rural more poorly on the consumer. And that's really what that rules rolled out to do is help the consumer. Get better advice and so I'd definitely like to share some thoughts and I shot and I've talked about this whole lot you we believe that's. Advisors need to be working the for the consumer. Not for some big company your or big entity. In that portion misses something case that what goes on out there. Very exciting trip. Well what we go ahead and spend a few minutes talking about then about it may be so your experience isn't some of your thoughts are Sean you have anything you'd you'd like to start off whether Scott who just stick with the. I would say that. In the world livid by using that there's receipt to camps. And one is they camp of suitability standard. And the other is the fiduciary standard. And roughly. ED 85%. Overall. Any racial and vice givers fall into that suitability standard. Ends. Nothing wrong with that meant most that is German Mike commissioned salespeople or or seals represented the and that means that they have to represent a company they were present a certain product line and when you go into you yet. Advice you're gonna get advice or wall trump purchased seen. Certain product line that there're affiliated to like when you do if eager to write a Ford dealership. You're probably getting gets all the Ford vehicles. Are they're not an end the more more than likely. The sales person is probably not gonna say you know. You should probably go to the GM dealership and check those out compare. Against the four is that maybe your best interest. That's on how the car dealer for a world works best on how unfortunately the world and a financial advice giving works either. Yeah and the fiduciary steer dirty hit again it's working in the benefit of the client. The client is the employer in this and the sole focus. And those recommendations given by a fiduciary. Pretty sure he has an ethical moral and legal obligation to do what's right. To do what's in the client's best interest. And dad is the Department of Labor rule how that has been put a national law. Debts people that are giving advice concern mean. Wrist some plans which are risks it mean there's like acronyms in this industry but does your 41 K is higher res. For a three b.s Roth fire raised 450 seven's. Those are Erisa plan. And they you're wanting to hold advisors to your fiduciary standard if they're going to talk about. Moving your money from one of those. And so there's some pluses and minuses on their own and Sean Scott thoughts on this. But I again I think it's this spirit of the law is good to. I think we're making their rights strides. But I think there are some things that mean you tweak and that's what I was in Washington DC doing was talking about. How we adapt this to be a better rules for the user. You know Scott at as we go through this has were talking by the fiduciary standard are really into this rule goes into effect it's on the consumer Raddatz. It's on the consent is really. A learned what questions that ask. You know that going through and finding that right advice giver that we that we college and figure out they're listening today. And you don't have a clearly defined planners are you don't have a current strategy to help you don't really where you want ago. I'll take up the phone just give us a call in you can call us at 884. To 077. Now for the first ten collars that do call us today. We're going to give you a personalized retirement roadmap review. And in this review you'll get a four tax looking revealed. We'll give you an income analysis. How will take a look at your investment plans and indeed your review their sin you're strategies are working Soria. And will love you within a state plan review. I usually for this review we charged 15100 dollars but for the first ten callers on the show today. You receive a complimentary. Personalized retirement roadmap revealed. Just have to be one of the first ten collars at 884. To 077. That's 808842077. Thanks for joining us today our retirement elevated with shun me and Scott do you get I'm your host gen re stacked along side in studio today Chanda Stevie to phone number of the website if you like to learn a little bit more. Is retirement elevated radio dot com we're talking right now about what's going on with this Department of Labor ruling regarding their fiduciary standard. And some asked do you weigh how often to folks coming your office and they really understand. That there aren't different standards an advisor can adhere to there is the city Cherie vs the suitability standard or is that it kind of a line of education you have to start with. Explain that difference is well. You know we really need did have a discussion around it sky and I are courses that we've created. You know we talk about lots of different things that you need in order to have a complete plan revealed income planning investment tax health care in a state. Now all that ties together below we found. Is that we spend a great deal of time during the classes while teaching people how to find an advisor. What are the differences instead of a standard of care between suitability of fiduciary. What questions should you ask you where can you go to your research people because no new information is out there. But the general public doesn't have. All the tools in most cases state to go out and find out how to my research somebody what questions. I asked for. That information just isn't isn't readily available so we have to teach people. You know what to look for. I would out of second layer to about you know today's world. We're bombarded with information. And I think it's what people are really looking for. Is a process tell distill all this information down. And I would caution you. Gotta be able to separate. Out the financial marketing from the financial science. Financial marketing is all the things that you read in magazines and you see on you know the Talking Heads on TV. Their marketing financial products. Are the latest and greatest thing that. UP just bought this thing it's gonna make or your charmer woes go away. I'm gonna separate that term from financial science and that's so things that we trade arm or client's perspective client gamers with. Is is just education make better decisions based on facts and logic. Not on miss miss her understandings and misconceptions. And does that that's what we see time and time again has said. People's thought processes perhaps flawed so we can help you walk through that your decision making process. That's what's gonna potentially help you make better decisions going forward. The that again that we stress and educational component. And finding the right person has been down this path that is taken people dealt near through this process and lead them to and through retirement. Talking today when it's on me and Scott DB and they are with retirement elevated radio the phone number to call the F questions for Shawn or Scott or some on 18800. 8842077. An amber again is 884. Q 077. Let's stay on this topic of fiduciary pursue ability advisors in and just the fact that there are different types of financial professionals and general. Show how important is that question of asking an advisor. What their fee structure is or or how they get paid anyway I think we all understand. Your racquet again it's something for nothing so. How do you go about nine which questions to ask as it relates to what Texas he's gonna be paying in that kind of thing. Any advisor world individuals get paid somehow right. Understanding how compensation works and what that he structure looks like is extremely important. Really advises get paid one of three ways they can be the only advisor where they just charged. A feeder for service much like an attorney at our charges there could be an hourly can be a flat fee. Others he based where it's the advisor. And there are certain individuals that are commission. Base now. The reason that I want to know. As a consumer how arm being charged. As a wanna know if there's anything that they could potentially tip the scale is there anything out there that. You did this the advisor of the individual that's recommending advice to me the scale for them to make decisions on on what sort of investments they're. Their recommending. If their commission based they're recommending something that's in my best interest are they recommending something that that's going to help him get the largest compensation. Sony starts look at at fees and how our conversations generated I think it's extremely important. Come up where some of the questions on how do you get compensated. How are you going to charge me an endless sort of service well I did from a consistent standpoint. Based on my fee schedule. As of some of these things are. The other we talked earlier struck a core. I don't know truly what's going on inside my current situation. Are you really feel like huge benefit from having a clearly charted course to follow through retirement. What I incursion you just pick up the phone give us a call. 808842077. If you're one of the first ten collars on the show today. What were offering today Islam color retirement road map preview. And this is gonna be personalized to customize your situation. And we're gonna hit on four key areas of work we feel are very impact full to a corner retirement. We're going it's doing for looking tax review we wanna make sure that there is not money fought through the cracks year in and year out. And really clearly helping to apply and are using all the tools available to you to maximize your after taxi. The second thing we'll do is walking through an income and also. We've got to determine is your retirement income gap that you're gonna have to take money from your retirement resources to fill that gap but it. And along side of that how do we maximize your Social Security benefits to make sure those two things worked together. How would investment plane review world dive deep youth and show you exactly what you're paying your current scenario. And also how much risk period taking you achieve your current results. Now what can be the effect of we have another 2008 type of a sat. Finally the rest a state plane review how we want to make sure that your money's gonna go to your beneficiary is the most efficient and effective manner so. Again for the person collar today at 808842077. Rock for your retirement or map review. Which normally we charged 15100 dollars for this type of planning but first and collars it's completely complementary or no obligation. Again gives call 88842077. Thanks for joining us today this is retirement elevated radio with shock me and Scott dean can only get back on either side of the break we're gonna talk a little bit about saving for retirement vs generating income in retirement and some strategies. You just asked to stay tuned we'll be right back in just a moment. You're listening to retirement elevated with Sean Lee and Scott Dugan. On the retirement years network. If you are like most people heading into retirement you probably have a lot of questions and concerns how to get prepared who can you trust her advice. How can you get the facts and unbiased information how do you avoid making a critical mistake. Maybe you've received an invitation to a fancy dinner seminar at a nice restaurant but in the back of your mind you felt like there must be cash and why would someone buy me a nice steak dinner they didn't have an agenda if you don't wanna be pitched on the newest products but instead are looking for a comprehensive program to help you understand the number of issues you'll face in retirement. The answer may be attending a retirement elevated course instead of a fancy steak house retirement elevated courses are hosted in educational setting. Many times on college campuses. Over two nights to certified financial instructor walk you through it 200 page retirement guide book. And provide you with answers to your questions. These courses are only 49 dollars and include your retirement guide book all materials and the opportunity to have firsthand access to a licensed financial professional. If you want the facts instead of a free state dinner. Retirement elevated maybe the answer to learn more call 91354328. Well. That's 9135432812. Or go to www. Retirement elevated dot com space is limited most classes sell out and you must register in advance to attend. There are only a few seats left so called 9135432812. Today. Or go to www. Retirement elevated dot com to find out more. This is retirement elevated with Sean Lee and Scott do you want to retirement years network. And we're back thinks again for joining us today and retirement elevated radio where Sean Lee and Scott did in hump you plan well retire well and live well. I'm your host Jenn redact here in the studio with shy on me and Scott do again and as we get back into our topic today if you have questions for Shana Scott you like to sit down with them or someone on their teen. In our call today is 8884. Q 0771. More time that number is 800. 8842077. Say on the last segments we were talking about the Department of Labor ruling in getting into some of the differences between judiciary vs suitability standards. A lot of different types of financial professionals out there and you know I can see why it's kind of overwhelming to try and decide who worked with them might make you think. You know what I don't mess at this I'll just cubs figure this out on my own shot I mean is that okay anyway why is it's so important to work or someone. You know I don't think everybody out there needs an advisor. I don't believe that I think there are some very all hiding key people he pulled it. Am I don't think that everybody. Needs an advisor but what I do know is that the most successful people in retirement. They all have. Have some sort of advisors that. I'm a sports guy played baseball for a long long time and you look at it. Professional baseball player that we will use them as an example. They take batting practice. But each position player. They all have our coach. There's a pitching coach there's a hitting coach there's a bullpen coach. They've got all these different coaches that. All come together and make the team work and harmony. And what sets it at the top of that. Is in a manager of the team. Now for baseball a Red Sox and Jon Farrell's the manager. He oversees. All those working piece yeah oversees all of those coaches you're sees all the players. Each player has their role in each coach has a girl out when we look at professional athletes still having coaches. Meehan makes a lot of sense for us to go down this path. As we go down injury terror whatever he beat to have some former coach most successful athletes have coaches. We should try to take that into our our financial world and we see the most successful people in retirement they all have coach. Financial advisor really gets CPA a really good attorney. Learn though that's fair enough point after I would agree with that Scott what's your take. Now taken a separate Sean says something that's T. I having their right coach. And work and our practices. All the people that are on your team. Of people pitcher strategically delegating to. Which would be your CPA your seat plane an attorney here advisor. All those people need to be on the same pay inch. And we don't see that very often people coming in to cius for the first time. Mentioned those professionals have never spoken to one another. SO Sean I a lot of times are Kennedy architect. Of the plan and were bringing in. The other professionals to make sure that's a cohesive plan. And the make sure that. Making a decision. If you're not gonna do it on your own. Then you've got to be able to strategically delegate to people. That have your best interest at heart. And then you've got to have professionals or monitoring and changed that plan over time. Southern I think it is key that have those people on your team. And you feel like you know at that point where I need to start strategically delegating need to start building a clearly defined plan. I need to get a really good handle on everything that's going on inside of our our unique situation or your unique learning situation. Are you just don't know for sure your current strategy is gonna get you where you want ago. Pick up the phone in and give us a call and call us at 884. To 077. Now for the first ten colors on the show today. We're gonna give you a personalized retirement roadmap review. And Scott said it earlier in this review your going to get a four tax looking repeat. We'll do an income and Alice says there will be an investment plan review and you get in the state plan review as well. Now for this review we usually charge 15100 dollars for the first ten collars on the show today. You're going to receive this review complementary with no obligation and it will be personalized. Or you see your personalized retirement roadmap revealed. Is have to be one of the first ten collars at 884. To 077. That's 888 or 2077. Thanks for joining us today this is retirement elevated radio where Sean Lee and Scott did in hopped plan while retire well and live well. I'm your host Jenn redact alongside in the studio today. Shunned as he need a phone number of the website if you like to learn a little bit more as well as retirement elevated radio dot com. I want back to question about this team approach. Scott you mentioned the word teen a couple of times in this segment seems like that this is a pretty big deal. To have all these different aspects of your of your finance whole life working in tandem. And you built your business in your practice around this philosophy and that really having a team approach as a relates her retirement planning. We definitely have. And death so one of the big missing. Parts of planning. Is that you know coordination amongst different professionals. Guns. We believe that that's key. And so. We feel like car process. Is. All about educating the people. About making good financial decisions. Educating them on where they currently stand. Meaning whether you've done it intention or not you have a plan. You may be followed the Internal Revenue Service is planned. You may be following some plain out terror but it may not be a plane that you were consciously aware of you you didn't really put into place just kind of following along so. We think that the cutie no good idea where you stand today really be yeah how much risk are you taking what are you pain pier current scenario. Early and more importantly how did you make the financial decisions that got you to this point. And that processes she used to make those decisions. Are there are some issues there there are some missing fax. Or missing information. And so that's what we talk about the retirement remembered your time on the show is we wanna help people understand. How do you make decisions what decisions you make to get here. Because Jordan discussed although although sings before you make changes. As but that's the beginning that's before you get in the planning process and and Sean I know you're an engineer trapped in an advisors body very structured and systematic. Oh what she talked about. After we've done a review. And someone is starting to work crews what's out process of like what can people expect when they come and it's a Dallas. Well I mean if you look at it why even have a process. If you really think about it net and I ask this question hunts. When you went through and you determine you're going to invest money here what was your process. Making sure that that was. Right fit for you and how it out of that really fit into your plant. You know it you're looking at creating a process. It does a couple of things where it won it allows you to set expectations writes I have an army advisor year that potential personnel were working went. By having a clearly defined process weakens our descent expectations you know exactly what to expect of me and I know what to expect of US we can go through the process. It to it it ensures that there is never in any stones that are left on turner. So as part of that process. We needed to take a look at what's currently happening. If I've got an investment account Irvine I'm I'm I'm got a plan that's not clearly defined like Scott that I have a plan. Well we need to evaluate what's happening inside of your worlds we need to get it cleared diagnostic of what's currently happening do you get a better in different. And in US and individual. The fun part about this. You'll see our Sean it's fun but not really I mean when we start to look at once you know what. Currently happening in your situation. And you going to creation of a plan. Creation of a plan should be. You working hand in glove in harmony with your advisor to create. Your client. Shouldn't be. Myself for Scott coming to you saying this is what you need to deal. An advisor should be there to provide guidance they should be there to provide. A little bit a structure. In the nation be there to guide viewing and all the good and bad decisions that you could potentially may. And once that creation happens and once you start to get flowing then. At that point you start to build it you're completely customized. Income. There has to be a process to get their person need to know what's going on currently. And then you need to work in harmony with tiered riser. Start to create your plan together. Inch led to that and he you know I've been working with so consult on her coach for a long time posit back Mac in the mood. Eight I believe it was. And river. Debt coach talking about. All the people that are in this industry. And a little over 94%. Of all peoples industry. Focus on the investment consulting. Machines their whole focus was helping each use investments. Well little over 6%. Of all advisors do you anything beyond investment consulting. That's who we call advanced planning. In advance planning is just what Sean is talking about that is they're doing income planning. Its cash flow. Now looking out maximize your Social Security your pension. How do you plan for a long term care health care ID do you hire a distribution planning. You know attacks members nations planning those are all parts of the big picture. In investments are a component of that but they're not the most important component. But in our industry. Less than 7% of advisors focus on that holistic complete planning and Sean I've been doing for. Over thirty years now been combined experience so. You definitely want to have a clearly defined process. Know what to mix facts. And you will note the rules are before you engage. I can today where it's shun me and sky dude in this is a retirement elevated radio thanks for joining us. On the show today as we get ready to head into this break. Scott why is walk essar will quickly eat what we get when we sit down how do we qualifier to come in and sit down with you and and just get started on the right track. What you wanna do first thing is give us a call. 808842077. But when you come in. We walked people through their retirement roadmap preview. And Sean I put this together over many years of sitting down with people. And developing plans but here we wanna give you a clear idea of where you currently steam and what's going on in your current situation. And so the first thing we'll do is conducting a forward looking tax review as we wanna make sure there's not money fall into the cracks year after year. And really dig NCAA are you using all the tools available to you to maximize your after tax AV. And then we move on to a call the income and also us we want to decide is there retirement income gap. Is there are a stream of income you're gonna have to Purdue's from your retirement saving. NN how does that play along with. You learn how to maximize your Social Security benefits. Next alluded to the investment plan review that's really gonna focus on risk in fees. How much risk are you taking welcome potentially happen to your nest egg if we experience another 2008 like event. And then where do you currently getting charge to hold your current investments. Is there value there and finally we'll do quickest state plainer view to make sure that your money's gonna go to who you wanted to go to in most efficient effective manner. But normally we charged 15100 dollars for this retirement roadmap review. But for the first time collar our show today. Really complimentary customized for your situation so I need to do is give us a call at 88842077. It never hurts to get a second opinion yet 88842077. Retirement elevated radio was shot Lee and Scott did then we'll be right back in just a moment. This is retirements elevated with Sean Lee and Scott do yeah on the retirements news network. If you are like most people heading into retirement you probably have a lot of questions and concerns how to get prepared. Who can you trust her advice how can you get the facts and unbiased information how do you avoid making a critical mistake. Maybe you've received an invitation to a fancy dinner seminar at a nice restaurant but in the back of your mind you felt like there must be cash and why would someone buy me a nice steak dinner they didn't have an agenda if you don't wanna be pitched on the newest products but instead are looking for a comprehensive program to help you understand the number of issues you'll face in retirement. The answer may be attending a retirement elevated course instead of a fancy steak house retirement elevated courses are hosted in educational setting. Many times on college campuses. Over two nights to certified financial instructor walk you through it 200 page retirement guide book. And provide you with answers to your questions. These courses are only 49 dollars and include your retirement guide book all materials and the opportunity to have firsthand access to a licensed financial professional. If you want the facts instead of a free steak dinner. Retirement elevated may be the answer to learn more call 91354328. Well. That's 9135432812. Or go to www. Retirement elevated dot com space is limited most classes sell out and you must register in advance to attend. There are only a few seats left so called 9135432812. Today. Or go to www. Retirement elevated dot com to find out more. You're listening to retirement elevated with Sean Lee and Scott Dugan on the retirements or use network. Welcome back thanks for joining us today on retirement elevated radio with Sean Ian Scott duty and I'm your host Jenn redact alongside in the studio today in as we get back into it if you have questions for shot her Scott if you'd like to sit down with them or someone on their team. Get that second opinion and just make sure things are on the right track with you and your plan I have to do is take up the phone they give them a call. 88842077. Is the number again 88842077. Our hockey in this segment a little bit about the fact that when you guys are sitting down to work with someone you're really starting long term relationships here and shined you're not just. Lining up some product brochures on your desk and having this new client pick one out and then send them on their way right I mean especially when we look at the longevity factor. This summer he's going to be working with for a long time and you really have to have that relationship with this client. Right and it's not just a one time. One stop. An individual or Fam reserve. There are harder and life savings made it seemed elated over 10203040. And fifty years eight. NC really got to walk able to process you've really got to gets really clearly defined. Questions answered. But let's interesting about this is when you talked about the oh product brochures and and and just laying them out giving a miss somebody actually had this conversation this morning with an individual that called in from our radio show. The east edge on and off my current situation just isn't working. I feel like the person of talking to you all are trying to do was sell me something to maximize their compensation. I don't know if it's in my best interest. And he's I just aren't just needs something different and so as a went to this conversation night this you know. Is it mr. Smith. Let's just have a quick discussion on around can what you're going through right. Every time something's recommended to you in your current situation. What is the thought process the hard wired those accounts the American. I don't I don't really know. You know I know that the guys compensated somehow I just don't know how it all it's and I unique situation in my situation. Well why don't we do this before we have a discussion for him in the office like you tell me. What would your expectations. Be of an advisor what would your expectations he had me. And it was clear as day or is it Sean I just want to know that the decisions that are making financially. Are being done because they follow around an action and follow my plan. I don't want to be sold something I wanna know that the recommendations on getting. Our in my best interest. Not disguised as an anything out of them. Something that's in my best interest I need to know that whatever on being recommended is following a plan and his. Or. To beat us. And that is broader also also the forefront of this is missing that's out there it's missing for individuals to have a clearly defined process. And have clarity on on how they're making decisions. Talking today with Sean Lee and Scott did in this is retirement elevated radio again if you have questions I have to do speed up the phone gear shop and Scott a call today 800. 8842077. That number again is 88842077. Yes Al what are you weigh in here have you had similar experiences with someone here is just concerned that hey I am really just been sold something. And you're trying to let them know that hey this is about a long term relationship I gotta get to know you I gotta get to know your financial goals. Before we meaning get to any type of recommendations. And it goes back to. Lead differs screen soon Dooley and two do you share the responsibility. Where were we need to clearly understand as a fiduciary. A client situation. What their expectations or what they need this money to do for them between now on the rest in the end their life. Mean that's really what we're doing is trying to get people to and through retirement. And and putting it clear roadmap healthier. And I think people are confused. Getting respect that financial marketing vs financial science. You know there's a lot of opportunities for people. I'm immature Ed to eat free steak dinner. You're Tuesday Wednesday terse easily got stirred new week to learn about the new latest and greatest says Lee products. Whether it's a real estate investment trust horror in a verbal nudity or something like that. That's the unfortunate part of where we've gone our cultures Howard. Getting information. And yeah I I think people are warning. Better advice. Unbiased. Information that is in error. Their best interest so I would say that people are starting to make better inquiries better decisions we are hearing. In few more people ask about some those deeper questions which I think that's a good sign. Did the tide is changing and that's why Shawn like Peter Parnell agrees we do they show is to let people know here's what you need to ask when you're out terror. Ends. They're just. Disappointed in their current scenario. That every time they go yen to talk to other current. Pursuits helping them. There using a lot of acronyms all of Jergen. Industry Jergen. Making it seem extremely complicated and and you know reams of paper charts and graphs. And they say they just feel like they leave. And they don't get clearer answers. And they'd just become frustrated and and I think the industry for so long has. Tried to make it confusing for people to justify their value. I think what good advisors. Due. Is. A complicated issues. Distill them down to the important salient parts. And walking to your process to understand. You're gonna need to make these decisions. There's gonna be pluses and minuses to all these decisions you're going to be presented will. It's our job to lead you down that path to discuss the pros and a call. Also when you're gonna make those decisions which are gonna make those decisions based on. Factual information. Or not just emotion so again I I'd take a walk through that path. It is important to you. Find some thoughts on your side that is a fiduciary. And that has done this before. It can be proactive and walking through all of these as you're gonna have to may. A bounce off what Scott said if you're hearing something that Disney ABC archer interest rates you haven't heard before. Or you haven't been walked or taken through that process. Helps you Dillinger clearly defined income plant. Pick up phoning give us a call or you just don't know if your current strategy is gonna get you where you wanna go pick up the cloning give us a call. Our numbers 884. Q 077. The first ten callers today we're gonna decent things a little bit different we're going to give your personalized retirement roadmap review. And in this review you'll get a attacks. Or looking review. Review we usually charge 15100 dollars for the first ten collars on the show today. We're going to give this to you completely complementary with no obligation you receive your personalized retirement roadmap revealed. You just have to be one of the first ten collars at 884. Q 077. That's 884. To 077. Thanks for joining us today and retirement elevated radio with son Ian Scott did and I'm your host gen re Zach alongside in the studio today on this game to the phone number of the website if you want a little bit more as well is retirement elevated radio dot com. Scott I wanna go back to something you guys are talking about a few moments ago when when he talked about someone who may be can then and maybe they're confused by what their advisor or their broker has been telling man. Not really understanding everything that's going on while these decisions are being made. How important it is it to be working with someone who can really help you break it down and bite size pieces and explain. Each and every aspect to each and every decision that you're going to be making a mean this is why eight. You do it you do coming you loved educate people and make sure that they really have a solid undersea ending right. Absolutely is. You know the quality of your life has fueled by the court eager questions. And call your questions determined he had the answers in and that's what we turn arm people with those quality questions to ask. And to guide him through. Through that process and again goes back to earlier segment less than 10%. Of all financial advice cures have a written. Crosses they follow on a consistent basis there's a fair amount I mean it out the year. If only 10% have a written process. So I think that's one of the reasons people don't take action is they don't know what to expect. They're apprehensive of corn ended talking to someone about money because let's face it in our in our world money is not a subject we talk about around the dinner table. It's kind of a taboo. Type of thing we don't get into deep discussion about it so. Knowing that we near coming in you're in a relaxed environment. And it's really into the heart of what's important you. What's your situation what do you need your money to do for you when cheater retirement. And what do the obstacles that you perceive in your in your retirement. No are you concerned about inflation are you concerned about taxes. Concerned about long term care health care expenses. Those are all things that we need to build up play and her rounds. And have a hedge against those things and so. I think it's extremely important to have a process to follow every structure. It's no surprise you to listen to Sean and I were pretty analytical. We do have a lot of engineers saw professionals. Has clients because of the way we do our planning and were our practices. So those type people tend to gravitate towards us. We all have we are out or get a feeling in the pit of her stomach. What we meet someone new for the first time and go through a process. And I think more people need to trust that you trust your gut. But also verify your your instincts as well robbery gets had a mass trust but verify. You're talking massage from a financial mice. Does he get to Vienna this segment Sean what are you tell me if if you're working with someone may be some of these little alarm bells are starting to go off some of these warning flags are starting to go off maybe you're just feeling frustrated and confused. With the person you're working with. What's your advice what we need to be doing to get back on track. Know if you've got a senior stomach greet you Dotson. An easy this about what's happening in your situation nor. A little bit unsure of how your portfolio is going to respond. Just. Take the hardest step to the hardest that is just giving us a phone call. And just dig up the phone give us a call don't procrastinate. That number is 808814077. And what we'll do this is live there are really get open honest discussion which. Will also go ahead and one of the first ten callers on the show today we'll give your personalized retirement roadmap rodeo. And we talked about it before but in this review you're gonna get a four tax looking review of what to do an income analysis we'll do an investment planner you Gloria. It'll doing a state clamor. This is a review that we usually charge 15100 dollars for a book for the first ten callers were gonna do this completely. Complementary with no obligation. You'll find your own personalized returner roadmap review of have to pick up the phone and give us a call 884. To 077. At 888. Or 207. Thanks for joining us today and retirement elevated radio where shun me and Scott do get into a hockey plan while retire well and live well. When we get back on either side of the break we're gonna go back to the basics and talk about some strategies for generating in town states you will be your backup. You're listening to retirement elevating him with Sean Lee and Scott Dugan on the retirements years network. If you are like most people heading into retirement you probably have a lot of questions and concerns how to get prepared. Who can you trust her advice how can you get the facts and unbiased information how do you avoid making a critical mistake. Maybe you've received an invitation to a fancy dinner seminar at a nice restaurant but in the back of your mind you felt like there must be attached and why would someone find Ian nice steak dinner they didn't have an agenda if you don't wanna be pitched on the newest products but instead are looking for a comprehensive program to help you understand the number of issues you'll face in retirement. The answer may be attending a retirement elevated course instead of a fancy steak house retirement elevated courses are hosted in educational setting. Many times on college campuses. Over two nights to certified financial instructor walk you through it 200 page retirement guide book and provide you with answers to your questions. These courses are only 49 dollars and include your retirement guide book all materials and the opportunity to have firsthand access to a licensed financial professional. If you want the facts instead of a free state dinner retirement elevated may be the answer. To learn more. Call 91354328. Well. That's 9135432812. Or go to www. Retirement elevated dot com space is limited most classes sell out and you must register in advance to attend. There are only a few seats left so called 9135432812. Today. Or go to www. Retirement elevated dot com to find out more. This is retirements elevated with Sean Lee and Scott do you. On the retirements news network. And we're back thank you for joining us today on retirement elevated radio where Sean Lee and Scott did in hockey planned well retire well and live well. And I'm your host Jan redact alongside in the studio today as we get back into today's show if you have questions for Shawn or Scott if you'd like to sit down with then. Get that second opinion and really just make sure that your plans on the right track the number to call today is 800. 884. Use 0771. More time then number is 800. 8842077. So Scott in this segment we're gonna need Canada and go won back to basics now when it comes to generating income in retirement we're gonna take it from here. Also there's a per inch to an article that was in the June. Issue of financial advisor magazine. And it goes back and talks to. Build engine who is a creator of the Earth's war percent withdrawal. And that's one of those things that's that's held on. In horror collective consciousness forever. But he gives back and studies. Yet how those things are holding up. In morning inching parts of that article. Is it we we really need to look at what were those assumptions based on back in the day. And at that point in time. They average stock worker returning user is about an 8% return. An average bond return is about a 6% return. Our re anywhere near those right now. Sean I think we have people lined up around our office if we vibrates like that down. But I wanted to read an article the real blurred out of this because you know Sean I talked about sequence of returns from risk. Can't secrets or returns risk. Is something that when your working and putting money away. You don't have. That much risk we talking about secrets a return address but when you retire you start to draw money from Europe or polio. From your nest thing. And so give me this quick Kohl's most studied. It's called the difference a few months make. For example over a fifty year time horizon. The April 1960 retirees. Verses the October 1960 retiree. They share 594. Months of data that's in car right. The data is only different for six months sesame retires in April and Sumner tires and October. Here's issue in park. An initial draw rate of about four and a half percent. The portfolio the April 1960 retiree. Will almost certainly last fifty years. So pretty high level certainly would sugary. While the portfolio of the person who retired in October. Just a few months later. Will be exhausted in just thirty years. So a six month difference in retirement date. Equals a twenty year or shorter. Life expectancy of your money. That's the different sequence or returns can make. And Sean you know I talk about this all the time you know our investment discipline. Is all about capital preservation. Income production. And low volatility investing. In and it's our contention that retirees. That are out there are. They can afford a few years of low or no. It's a huge draw downs that 2008 type events that sort really hurt people. When they're in that dish your view shouldn't Shays of retirement. Like a lot of people that want three things from the money. They want. Safety your principal. They'd if they could have safety principle they would they rejoice that that make him feel good. It's like to take some income from their portfolio. And finally they like to grow what if possible. I think most people that's the boost period and after their conservative and investors. Going into retirement and wanted to live a nice retirement. That's right I think people. And I think that's your senate proper expectations right now or are key with the economic environment that were in. Michelle what do what do you think on the. I looked at a lot of studies on the 404%. Rule and I read this article yet but I'll go out a jump on and read that. Now I looked at Morningstar. Which is a huge analytical now group I've looked at. Abilities most recent study that they came out west and because interest rates have changed in the barn world and we haven't we see a lot of volatility in the stock market. An F 4% real wow unfortunately no longer is the more percent girl in order to create a sustainable income that you're using. The investment world. You got to pull on anywhere from one point eight to 2%. In it and that's the number now. When you're looking at a 50% reduction of income. In just just to make sure the raster going to last as long as you do. I think that when we start to look at generating new income in generating cash wow. You know a lot of the old rules of engagement. They're no longer viable. Is the based on where we are economically or could that change your butt. I think right now when you start looking generating cash for generating income. Have a clearly defined plan in order to help help you navigate to those retirement years. Some basics teacher interest if your insurer if you got a plan that's gonna provide. Visas and predictable income and retirement. If you're not sure about your the fees that your player of the matter risk that your you're taken to corporal polio. Just give us a call 884. To 077. Command sit down won't go through retirement road map review. The one thing I do know is when you come and sit down with us you're gonna leave. Our median understanding and having clarity about your situation. And our goal was told you understand your current situation better than you do you now. And there's no cost or obligation to that for the first and collars on the show today at 884. To 077. Thanks for joining us today on retirement elevated radio with Sean Lee and Scott didn't. I'm your host Jenn redact alongside in the studio today and guys who had just a few minutes left in the show today so go ahead and start to wind things down a bit. John why don't we start with you do you have any final foxy wanna share their listeners today. You know we've we've talked a lot about. How to find an advisor today here. You know what the seizure standard means. You've heard things that have sparked your interest or some things that you light daylight pick up the phone and give us a call I you don't want to procrastinate if you don't have a plan. Are you don't know for sure that your current strategy is going to get you to where you want to go. Not take up the phone right now and give us a call 884. Q 077. Now for the first ten collars on the show today. We're going to give you a personalized retirement roadmap review. And in this review you get afford tax looking revealed. You have an income analysis we'll talk about your investment strategies and your current investment plans and we'll do an estate planning review. Now for this review we usually charge 15100 dollars but for the first ten callers on the show today. You'll receive a complimentary. No obligation. Personalized retirement roadmap revealed. You have to be one of the first ten collars at 88014077. That's 884. To 077. Sean Lee with elevated capitalists are registered investment advisor in the state of Utah Scott Dugan is an investment advisor representative with the advisory services offered through global financial private capital elevated capital and GF TC are not related companies. Information provided during retirement elevated with Sean Lee and Scott Dugan is for illustrated purposes only and does not constitute investment tax or legal advice.