Jan 28, 2017|
Automatically Generated Transcript (may not be 100% accurate)
Broadcasting from the top thirteen seventy studios. You're listening to financial lies with your host Suze said Blackburn and Elizabeth Janes and retirement elevated course at concordia university. Coming up next month as fiduciary is Blackburn and James are required to work in your best interest helping you took own retirement in today's economy. So stay tuned as they bring UN informative approach to your retirement. Each and every week and now your host Suze at Blackburn. And Elizabeth James. Welcome to. Financial wise radio I'm Suzanne Blackburn. Post a financial wise and the owner of caps are financial and also a series 65 fiduciary financial planner. And my co host Elizabeth James she holds a 66. Fiduciary financial planners license. And also an advisor. It caps are financial hi Elizabeth high seas that Harry yeah. I'm great welcome and Britain think you so much for taking time out of your day to listen to our show we're really excited that you listening. You know it's a new year Elizabeth and new goals new. 2017. Administration. I mean there's all kinds of new. Dolan none. And this could be the time to get your finances. In order wooden. Yes so for all of you listening out there that have some resolution to teacher financings in order and do some real planning to make a difference this year. We have got a treat for you because today we are offering a special all to attend our retirement elevated course. Save got a call last I'd jot down a number 51 to do. 2159030. And that we can scholarship you and for our reserved seat into this class. You know I I know you're listening right now you get mail every day if you're between the ages of fifty and 75. To go to a free dinner and I kind of like yeah like those free dinners. But you know what those free dinners do it there is nothing like a free dinner that doesn't have a catch they want you to come in and buying something from mom. That is not a true educational experience. And you know we teach at concordia university to give you. An educational experience because we want you'd own retirement if you've been listening to financial wise for any length of time you know that about us. We are premier educators in the Austin area. A how to preserve protect and navigate these rocky roads. Of retirement including Social Security we're going to be talking today in this first segment. About income planning retirement planning. Minimizing your taxes. Health care. Estate planning my gosh so we're gonna get right into it right now and you know if you want to get a piece of paper and a pen because. We're getting it because of the highlighted. Cliff notes version if you will of what the classes for you but we really want you to attend its three hours of your time. For two different either Tuesdays or Thursday is now. The concordia university is over on sixth when he it's a beautiful campus back there in the woods. And it's Tuesday February 21 in 28 that's three hours each one of those nights it's Thursday's. Finley 23 in March 2 from 630 and nine now that the benefit of this for use listening. Isn't that you don't in half to trust somebody anymore you're gonna have the information to navigate. As waters for yourself Fred Elizabeth that's right what I love about this it's so different than whites is that was describing about you know the free dinner seminar. You know what really sets us apart. Is this course that we teach retirement elevated it truly is an unbiased. Jest. Information off. Course where you are going to. And learn yourself says a year better armed and better prepared. To make financial decisions in your life. You're gonna be armed with the knowledge about different kinds of investment products. Attack street Mendes and retirement so security. Health care. All the things battery tire me or someone nearing retirement. Needs to understand. Themselves it's kind of be like cracking open our brain. And just getting all the knowledge that we have over 25 years myself. Elizabeth over ten years or longer with working with families all over taxes she worked in South Carolina. Of preserving and protecting assets you know if you worried about running out of money in retirement we're gonna help solve that problem if you're worried about a market crash. How you grow money without risk. We're going to be talking about you know you're getting a paycheck if you're working right now for more but you're gonna I'm not gonna have that are very much longer appear about to retire. Which she cannot do we draw from when that's something we're in and added a dress with a steady income. You're gonna get a paycheck from some account so we're gonna help you decipher which one to take from. And one thing I want that make sure Ted note here. This is not this is not a sales Dan Harris sales seminar we are not gonna throw a stake at champ at that but your answer arrested then. Then don't call last but if you are seriously. Inter arrested and taking extra responsibility. And educating and informing arming yourself. That you can own retirement. They need need to call us at 5120. 215. 9030. K is this this does take a time commitment it's three hours. On two different nights and in that it's a six hour course with six different modules. So why don't we highlight. And exactly what the use these segments arsons that so. The very first section in your book when these when you come to concordia university. As I said February 21 to 28 tour February 23 march 2. Is we the first section is life planning now why is that important it's super important because now. 2500 hours that you spent a year working is going to be free time I love the what Elizabeth says it's Saturday every day. After I definitely spend the most money on Saturday. Though so you've reached that fork in the road and when retirement as a reality. You you've got a dream a little you get a vacation Egan have a hobby the end of volunteered. We're gonna help you can define your goals we have a little section there in a really well designed. Sheep you fill out so you know let what is your best self in retirement is gonna write that down here is a great book I read long ago called halftime. And it talks about this exact same. It's a great new and refreshing idea to retire and fill up that time that. All of that convergence on how much resource it's do you have. To complete that bright light week you've got dreams and then of course you've got this constraint. Resource is so. We're gonna help identify. And find that happy media and disconnect the fill your dreams and goals. Within your given by jet yeah we want we want you to envision retirement. Not you know on the TV watch and so Siena we want we want to plan they wanna plant a great retirement for you whether that's. Grandkids. Or travel AM how many cars you gonna buy and retirement. Are gonna get an RV and they homes in need how many. All of that now appear one of the lucky ones. That can retire and move right to re you know go straight from working years to retirement years and spend the same amount of money. Good for you but then we're gonna do something that's very critical we're gonna shake the tree our way we'll look at. My goodness what happens if there's a market. Collapse or even a little downturn. And we're gonna show you. How that you cannot treat your assets like you did in the buy and hold mutual fund world of of financial planning of accumulation and a 401K. It doesn't work. Right got to have a apply different strategies isn't a whole set a different risks. Associated in retirement and in the distribution phase. Wished that brings us to the second and Montreal. Which is income planning in determining how much money you'll need right and yeah I don't like to bring up. Yes the stock brokers of the world out there. They might tell you you got X amount of dollars. William and you make say 800000. Now light your work gain. Organ atlas planning needs 75%. Of that when you retire. And will appeal for a person not your portfolio. And mature and come plan he crusher fingers. While Tim mean that's that's not a income plan. We help you with ADT out and complain about what your actual expenses are today and then make the appropriate adjustments. And add end those additional cost. We really talked about Medicare and supplements. And you know all the other. Additional costs in retirement. You know out of today's story about a couple that came in Betty and John. And they were both very respected in their own particular fields done very well financially. Built spread sheets had all this great stuff going on and the thing about bedie. Betty was really afraid. To trust anyone with your retirement plan. And so by her coming to the class. She was armed with at least the language barrier was broken so that she would understand the words that were used in the financial world. You know what is an annuity. What has life insurance work and why should I still have it or not. What is an ETF. What how how did mutual funds and really work Howard the costs involved hidden fees the administrative costs will be UNC's. All of that now when we come back. To financial examiners finished the story about Betty. So you can hear she did become a client of ours but. That was in our goal our goal is to educate her. So she could be her very best confident self and retirement. As she was when she work. I love that story because I all we share with clients and prospective clients that. We get the best results. We have the best relationship in the client to the best results when they're the most informed. And so it really is a collaborative process and it's just it's great for the client absolutely so keep listening you're gonna hear more about Betty. And we're gonna go into investment planning in investing in your future so come on back and remember. Some folks are financial. And that brass are otherwise it's. This is all about making sure you don't run out of money in retirement. This is talk radio since at Blackburn postal financial wise radio and she's now taking the retirement based information old radio show to do with her new class retirement elevate and take a deeper dive with Suzanne into today's relevant retirement topics and create a plan for routine long term financial goals we are living into our late 80s90s. That means thirty years without a paycheck this is Suzanne Blackburn. Learned to play well retire will live well learn how to fight back and where and when it comes to taxes long term care costs and inflation come front and avoid letting mistakes it's now time you had this kind of information available to you so called capstar financial about Suze that's upcoming class retirement elevate. Five point 221598030. Joins Suzanne Blackburn for retirement elevated and concordia university Tuesday's February 21 and 28 or Thursdays February 23 and march 2. 630 to 9 PM. Welcome back to financial wise with C said Blackburn. And Elizabeth James. Welcome back to financial wise we are talking about how our favorite thing to do is the retirement class that we teach it concordia university. It's retirement elevated get it concordia Tuesday. February 21 and 28. Thursdays February 23 in March 2 from 630 deny and you heard that on the break but. This is about EU. Owning retirement I want you to be able to have all the information that you need to make good decisions you can protect your family. In a retirement. You know on the last segment I was talking about Betty he came in in you know Benny was very afraid. A turning everything over to any professional and I mean my god she worked her whole life working. And very respected. CPA in her field and had done very very well. And when she got her retirement even though she knew a lot about business taxation she wasn't. Really all up to snuff on how to retiring get that going so she took the course. So that she would know the language. She would understand the investment choices she understood which account when she knew how to appeal in comes the risk of sequence of returns ups or downs in the market how to appeal all that. And my goodness what about long term care when she got sick leave for partner got sick so. At the end of that story was that he came in and was able to really have the confidence. To make an income planned and now guess what she's doing she's traveling all over the place I've barely overseer. The British isn't just Inge. Oh I retire. Which I know is your ultimate goal to go and announced there that's enjoy a retirement right. Add that brings us to the third module which is investment planning so far we've talked about. Section one life planning defining your ideal retirement. Section two income planning determining how much money you actually need. And then from there we can go into investment planning access section three is investment planning. And really your our. Your strategy during your working years maybe just growth at all costs to buy and Paul and accumulating these mutual funds all over the place. Yet that might have worked for you. But really you half to you taken to a cannot and more appropriate strategy when you move into the distribution phase. Because you are you have a finite. Amount of assets. There's no more contributions. No more working and earning contributing to it so. You really have to have a strategy that balances. Protecting what you have and generating be appropriate. Return that you need to support. Your lifestyle. I'm gonna tell story for it for this example to access I have a a gap a graduate from retirement Allen made it here is now a client of ours. And again very respected in his field very educated. Very Smart man. And had a lot of moving pieces in his. I can't I don't know I don't caught a portfolio I cut a collection of I can't fix it okay candidates you know just. And a collection of account sound that really share our real clear of the purpose or strategy for Rondo and you know if you ask and what is a sport. I was making money he's just earnings. Well we really had to get it focused into a plan what do we need this to do for you and really. What investments are perfect depending on your risk. I this was also it and a and that individual always. Everything figured out spreadsheet for everything. But really not understanding. Why he had what he had a with a purpose why so. After graduating from the class coming onboard to work with us. He now understands exactly. What his which account is supposed to do what for him. The appropriate level of risk and most importantly for retiree. You or do you withdraw strategy you'll like in which it out when. Because when you are in your distribution days or in retirement. You've got other risks that you don't have when you're working. And these are some real killers and and retirement for a portfolio. The sequence of returns risk and negative compound things. Which account when for tax efficiency. I said these are all these are all things that are very important need to have an understanding of before entering retirement. Yet yet if it cost Sudeikis were actually were scholarship thing again. Had retirement elevated concordia. February. 21 and 28 that's a Tuesday option. Or Thursdays. February 23 and march 2 so college today is we can scholarship view and look slightly. 22159. 512. 2159030. Now you know all along those lines one of the things that we give everybody that goes through the course. Is a wonderful sheet of paper. That our questions to ask. Your perspective. Retirement planner. And this this is should be making your stockbroker. Chic in their boots. Because. Stockbrokers love it that you don't know exactly what the fees are they love it that you don't know how they're paid. They love it they date. You don't really know the underlying investment choices in what you half or how about they love it that all they have to do is have a investment that is pseudo ball. Not necessarily in your best interests out I challenge you. Ask your stockbroker. About a certain investment and its suitability. Vs in your best interest exactly. And if you've noticed recently in the news there's been a lot of a rowboat advisor activity. Because of this fiduciary standard being put in place it is cryptic call. I repeat critical for you to have a fiduciary. That is hand delaying. Your accounts and retirement because they're there required by law. To act in your best interest in the way you check that frankly. How the statements set up. Do you see exactly what the investments are you know exactly what the cost. Is for the investments. Do you know how the planned. What works and thirty years I'm not talking not just a couple years but for thirty years of life. Because that's what a good income plan is all about. Now when we come back we're going to be talking about minimizing taxes on near retirement income taxes. And to just kind of preface that. Boy we have had people walk in and that it had everything. In retirement accounts which that's sounds wonderful but. Here's the thing if you're fifty or in your early fifties. And you go to this class on my goodness you're gonna be so happy that you went became begin to tell you. Because when you get to be in your sixties and the only thing you've got is a big enormous 401K or IRA between you and your spouse. It's also I hate to tell you it's one big tax liability. We had a unwind it so early you have to have sound how strategically. Unwinding Matt because. And retirement it's in real estate here location location location retirement it is in com and come in come. And what is your what's the income that you get to keep in your pocket that you take to the grocery store that's but. Retirees today when an out well I wanna tell you about Bob. Old Bob bless his heart Bob. Bob had a an enormous borrowing K that he was so proud of and he'd worked his whole life that. When the big giants. Engineering firms here in town and computer sciences and I'll tell you some and it very impressive numbers. But not very impressive when it came to appealing income because we had to adjust. For the tax liability on Nat. And if he'd come in about ten years earlier off because affixed still much of that so when you come back. I'm going to tell you the little known secrets about how to take that income minute tax favored way so join us. In the next segment and remember that some folks are financial lives and the rest are otherwise. This is all about making sure you don't run out of money in retirement. This is talk radio since at Blacksburg post a financial wise radio and she's now taking the retirement based information old radio show to do with her new class retirement elevate take a deeper dive with Suzanne into today's relevant retirement topics and create a plan for routine long term financial goals we are living into our late eighty's and ninety's that means thirty years without a paycheck this is Suzanne Blackburn. Learn to play well retire well live well learn how to fight back and where and when it comes to taxes long term care costs and inflation come front and avoid letting mistakes it's now time you had this kind of information available to you so called capstar financial about Suze that's upcoming class retirement elevated. Five point 221598030. Joins Suzanne Blackburn for retirement elevated and concordia university Tuesday's February 21 and 28 or Thursdays February 23 in March 2. 630 to 9 PM. Welcome back to financial wise. With C said Blackburn and Elizabeth James. Welcome back to financial lives we've got a great show and I tell you what it's about you it's about you learning. How to retire well and have the information you need to make a decision to when it teach you. How to do that at a retirement. Elevated course at concordia university it's Tuesday. February 21 and 28 from 630 and nine. Or Thursdays every 23 in March 2 C event it to say option or Thursday option. And it's important to go there is a charge. These books involved there's. Homework Elizabeth I mean we might need to do some stuff to really be prepared for retirement this is serious. It's not a small thing we're not giving you a free state dinner. So you can get sold something. But if you costs today we are we can scholarship you NN. To this course this February course retirement validated concordia university. So you allowed to see you in San Onofre stake that we well scholarship you end. It's that you can own your retirement. Now in the last segment just talking about Bob sweep Bob now Bob came to our course. Late in life he was in his sixties. And had this enormous for Owen K that he amassed. From working at one of the big engineering firms here in town which sounds great it's a wonderful problem check out. To build retire with this big 401K. But let me tell you if you deep dive and you examine the tax. All that the taxes that are involved in that 401K over your lifetime. He'll figure out real quickly you've got to take out quite a bit more than you need to live on. I some retirees are most retirees it's safe to Sam. That they do not realize that taxes can easily be. Taxes can easily be one of your bid against expense during retirement yeah and it's something that's just not really thought yeah it let it pass to be factored and tear and comes plan so it's year early in life and talking about in your fifties and you can come to discourse we're gonna teaching strategies. To still amassing huge for Owen K I think that's great. But we have ways it will discuss with you. On how to do Roth conversions will also talk about how to convert tax free dollars. You know you'd imply those dollars in a fraction of a cost. So that when something happens you can actually peel that in come without tax. How taxes affect retirement and social security. And also wooded but insists a surviving spouse if you died early. Okay the estate taxes and what that looks like as well are astronomical. They really gets you bad in taxation at death on the estate tax. Reds he deathly Dahl want to you know have a have a perfect plan with your investments and amassed a lot of wealth and then forget. You know this the second half about what about the transition and your wealthy don't want your family to lose a good portion of your state. So what we did with Bob to see now is we were able to do Roth conversions over time. Not all it wants the conversion options worked really well for his family but guess what we had to organize his in the come. So that when he did those conversion it wasn't a huge tax liability will explain to you in the course. How to do that will grid data out on a sample case. So you can apply that to your own personal life. Now one of the things I wanna make sure that you know love is that this course will have places to take notes we'll have homework involved. You Vila talk to your spouse again about hopes and dreams in retirement. How to really planned what you're expenses are how to put together really really good information. So that in a year and you're gonna be living in retirement possibly 3040 years mean that's a long time to. Make you do it right and there's a lot of decisions that you're gonna make quickly did or completely irrevocable if you do it wrong he can't go back and fix them. Adding another great thing to mention about this course is the fact that you are going to be armed with the information and and the industry knowledge. That you can go and interview. And find. Their right financial professional for a year ago. No longer do you have to go on meet with someone and just sit there and take what they're saying you are going to be sitting. Side to side with them and you are going to be on a make the decision. On do you want to work with injured and now what task. So register now Collison at 5122159. Or go to capstar financial dot com that capstar. Financial. Dot com and remember. Some folks so our financial lives. 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