SHP Financial Retirement Roadmap Radio Show 6/17/17

Weekend Shows
Sunday, June 18th
00:55:00

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

No statements made during retirement roadmap radio show shall constitute tax legal or accounting advice you should consult Rome legal or tax professional on any such matters information presented this for educational purposes only and does not intend to make an offer or solicitation for the sailor purchase of any specific securities investments or investment strategies investments involve risk and unless otherwise stated are not guaranteed to be sure to first consult with a qualified financial advisor and or tax professional before implementing any strategy discussed herein Matthew peck CFP Derrick Greg warranty Ellis of Essex. SHP wealth management LLC and SEC registered investment advisor offices in Woburn west Borough in Hyannis our offices of convenience and only used for client meetings. Joy to do this HP financial retirement romantic show with your host Gerri great warranty journalists and Matthew today. They know that the road to a successful retirement is made with consistent care in the commitment to guide the families they serve. Matthew is a certified financial planner professional and author of mind the gap the cracks in the American retirement system and Eric's been recognized by Boston magazine as one of their top wealth advisors and together with Keith solo third victory bringing in health wealth and success they've been featured in major publications like sports in the Wall Street Journal but they're most at home talking to people just like you about living out their dreams in retirement their phone lines are always open at 802277. B 777. So give them a call define your retirement roadmap fourth visit them all mind that SHP's financial dud job. Sit back grab a pen and start your engines here's Derrick Max and she's. Welcome everyone to another weekend edition of their retirement roadmap radio show brought to you as always by SHP financial. I'm Derek Greg are joined by Keith Ellis in map pack in on today's show we're gonna address a few important areas as it pertains to your pre retirement in retirement. In the first one is are you gambling your retirement. 100000 dollars for the next generation. Just by having a complete holistic plan. Number three high your retirement can be just like to Titanic. In number four. And during our weekly market report we're gonna talk about an important ruling from the Department of Labor. That finally passed him went through in my you know what it means to you as well as the entire financial universe. So Keith now welcome to the show. Are at have a new back tee time I haven crime home all morning on doing that's always yeah that's all week using last weekend either. A decadence on furlough three weekends through golf so easily three weekends to redo a portion. You know my deck I got a quote. To do and I was like wow that's that's ridiculous I tried to be frugal. Tried to save some money ordered everything myself my father and lawlessness and off to come up and only because. Believe me I'm no wizard with a hammer or anything like that bomb so he came up help me do everything and needless to say until the pain. And there literally soar three weeks three weekend three Saturdays so three Saturdays of your hard earned time and the Easter mass I would help you if you promise. And it's weird because they call it just went straight to voice it's half half half and let down let's. Good and it's funny I I talked about build a deck of urges does Damon did the day to Keith is I was staining is well and just. All that stuff is just so time consuming and you and you enjoy doing and it's it's like you wanna do it you'll learn how to do it's a city is really you become more skilled. It is time is so precious in the and so literally that's three Saturdays that you took away from your kid yet what looked earth three Saturday is that that you didn't go on a nice trip her real into the Beecher or whatever it is and you know sacrificing those memories for you know for that amount of time. And as far as the men's likened to whether you wanna hire a financial professional. And because I tell clients about how look. What we do. Isn't exactly rocket science at all times I mean the 08 a good in good income plan and a good buckets and in good asset allocation. If if anyone can learn what we do if they have the discipline in the time debt takes time and discipline it exactly so. So imagine a carpenter rated sir guy comes in and says all right Matt. I can villagers dec beautifully I can do with the right time that's gonna cost X amount of dollars which is what happened to me right. Or you can do it yourself take all that time take all that energy take all that effort in came running correct BS. I think. It's so that's of this I asked him what they will would you rather do would you wanna hire professional to build Dudack it or do you wanna hire professional to kind of build your income plan and haven't done the right way. Or did kind of wanna do yourself save money you know but you're spending time and Mir back is certainly a whole lot more hands. Was it like we thought we talked to a being on the radio throughout the almost ten years now and we start there's probably you know 34 maybe financial advisors on the radio. Now I feel for the listeners it's tough because you have like twenty different voices are hearing in twenty different opinions and I do this and I think them when it comes down to planning few retirement I will say. People see what the question get a lot time hasn't been a lot of times what makes you different from everyone out and everyone else is talking about. Don't lose you know up and you know gonna protect your money they're gonna make you the most monument winning giving compliment do this in that. But what we have that's different is our proprietary trademarked. Retirement roadmap process which instead of having to go to this show for this plan. The other company for this state planned this place for your income planned this place here investment plan. We combine all under one roof so we want to see what's the best way for some listen from a consumer. Now I get the best advice at the lowest cost power we create that and that's how we treat create our company's 2003. To have our retirement roadmap is building a plan that looks at income. Investments. Taxes. Health care on the Agassi all under one plan and in key things you can just described that's kind of what it is what does it mean to the people listening. Who really what it is is so real actual written plan that to me is the difference so many people coming here and they have league investment portfolio or they have. In a new idea that they say that he's gonna provide dimming come you know 5710 years down the road. But north kind of wrap their arms around kind of everything that they have it showed him how all's gonna work would pocket to get a draw from and when. What is the best tax strategy so really what it looks to do. Flickr says it's a written retirement plan. That looks to maximize your income in any economy any. You know whether the markets up with the markets down we're trying to driving come for the people we work with. Also looks or strives to. Maximize returns. Well minimize the downsides so that's what we try to do with a lot of our clients is controlled the volatility we talk about that all the time. Also what we do is try to take advantage of the tax code both legally and ethically try to maximize what would stays in your pocket. Also make sure to protect your cells against. The rising hop so I'm sorry the rising cost of health care and long term care and finally. How does is solve. Move from one generation to the next we wanna make sure it does so efficiently so. Boy in sorry just to bring him back to the analogy bill and adapt but. Imagine you imagine a person's comes out to Ian says look I'm gonna help pick out the materials and I'm gonna help pick out. Every last thing can mash unit tie you deck in two year landscaping. So that Ol and also I'm gonna make sure that it matches with you deal with with you the with the signing of your house so that is is in good shape I mean. Having someone designed everything for you. Is basically what that is if some staying in this idea of building and Decker just having that type of cohesion that so many times we see. You know peoples all their eggs in like one or basket I don't know either savings or the market maybe have a little bit you know designed for income so. Our goal is to sit down with the families to come in. In one take some time out of their schedule the sale without us. Get to know their situation get to know their goals that's kind of the most important thing is we want you know we won retirement so. And then we build the plan a strategy around that bit of senator known Kenya that's like a man give a guy come in brightens as like only I I kinda plumber here like go find yourself. Yes hey you know maybe it's like it's like you used to sit down with with with a gentleman and only does their geno later gentleman that only does investment planning and they say OK now look at turning come remote confirmed a state plan is to ogle finding yourself exactly as I had to do not have that one place. So that's a problem is that even on the radio show pathologist radio shows this must be confusing for the consumer did you have. One show that just says everything's should be insurance face an annuity based in never do anything in the market can you gonna lose all your money. And is does couple shows I do that as a couple of shows SA. Put all your money in the market. In you can occasion you should never do anything on the insurance side because you can make the most money in the market. In reality when asked earlier are you gambling your retirement. A lot of folks are working you put your heads down to go to work you grind it out each and every day for your family. In you get into the point we're about to retire in. Are you. I don't I'm not here to steer anyone or make anyone nervous but some people out there should be because if you gambling your retirement. Everything you have is in the market in your about to retire our five to ten years away in your nothing designed for safety and income. I think you need to work with a fiduciary who can work would both sides of the aisle where if you need. Whatever tool you need if you. Low cost ETS index funds stocks bought for your party your portfolio. That's great a lot of our clients look at the whole picture you want in want and need a little bit of everything grading go to one shopped for one par. And the shop for another part so our retirement roadmap is designed to get you to enter retirement. The downside is folks because of the time involved we can't work when everyone but we do offer everyone an initial consultation. To see if I were a good fit together. By doing so it'll help you kind decide if you can retire if Greg good fit if this things that we can help you it to get to enter retirement. So pick up the phone we have offices in Plymouth west Borough Woburn in Hyannis to numbers 800. 2277777. Again that's 800. 2277777. Or go to SC HP financial dot com. After the break when a share a story of how client received a 100000 dollars for the next generation by having a holistic plan over a pack. You're listening to us HP financial retirement road map show your guide to a successful retirement. The phone lines are always open at 1802277777. Stick around the guys we'll be right. This is Derek Greg our message. But living on ice cream alone be pretty risky for my health in living on river I would be pretty tough on my wallet that's or make informed decisions and limit foods that won't put our health our budget avarice but when it comes to investments most of couldn't tell you which ones are risky or if they're paying extra hidden fees so if you'd like to know the real risk level and the ease of your investments give SHB financial call 800. 2277777. You may be surprised to find out how much of Egypt actually tank. Or potentially saving thousands of dollars mean do you let SH people your financial shopping cart in order call now 802277777. For complementary risk in the analysis that's 802277777. Or online at SHP financial dot com we. You're building homes you need more than just four walls you need a roof. You need a foundation without these things your home would be incomplete the same can be said for your retirement planning this is Keith Ellis co-founder of SHP financial if your financial advisor is only looking at your investment portfolio it's like having a house with no roof at SHP financial when we create customized retirement roadmap plans for our clients managing their investments is only one part of the process we include income and expense planning inflation protection tax reduction strategies health care in a state plan if you're current advisor is not talking to you about these important issues we invite you to come in for complementary no obligation retirement roadmap review get a second opinion your retirement well being could depend on call 802277777. That's 802277777. Or online at SHP financial dot com can. You imagine trying to build a house with only hammer. Of course now. So how could you possibly build retirement plan without having all the tools hi this is Matthew pack certified financial planner and co-founder of SHB financial to make sure you know the not all financial advisors are the same. We have fiduciary who are required to act and you are best interest but what really makes us different as all the tools that we bring to the table as an independent firm we are beholden to big Wall Street banks or insurance companies like some advisors stopped working with people that are only trying to sell you an duties or only offer investment advice and SHB you'll get a full retirement plan that covers income investment tax healthcare and legacy planning all in one place calls today to 802277777. To schedule complimentary financial review that's 802277777. Or visit us at SHP financial dot com. Your June to a CHP financials retirement road map show where your route to a successful retirement again. Call BS HP team anytime at 1802277777. Or visit them online at SHB financial Don come now here's your host Gerri great. She's jealous so we're excited to be join in this segment by attorney key commands from his firm maddening minister Steve planning so. He tied do it's I'm fine Harry you're Derrick thank you so much for joining us I'm happy to be here. And it was funny re talking earlier about like down if if folks are listening. We said hey there's a way you could save a 120000. Dollars which we don't know if that's the case for every person listening obviously but for some people it is and we're gonna kind of sharing your quick story of how important is to make sure you have a holistic plan. Don't look set all areas of retirement because for this particular client there were gonna discuss. When they had but just by doing some basic planning they saved over a 100000 dollars for the next generation. Just by having the right document and place pretty startling instinct teeth and a with a from I think they were from the radio show but I can't remember exactly. Yeah. This particular client had property in Florida in property in Massachusetts. And had a pretty decent a state it was you know just about just shy of four million dollar net worth the state when you added together. The death benefit of life insurance in the properties and their retirement accounts and all that sort of thing so not as early every clients can make imminent that level of assets. But they amassed residents Massachusetts residents exactly. And what they were not aware of they had a financial advisor that was not in Massachusetts. From Florida. Now in Florida there's no state a state tax but in Massachusetts there is a state to state tax and they were relying on this gentleman in Florida for advice for his advice and paying the person for advice in getting. Not great advice now explain the state. Massachusetts detect it. Once the net a statement add everything together take out any debts and liabilities once the net estate is in excess of one million dollars. The mass department of revenue. We'll assess in the states or death tax and now of course there's ways to address that through proper tax base to trust planning. But not all trusts you down wills don't do that. And many advisors that are not in Massachusetts are just not going to be familiar. With the unique Massachusetts a state tax even there are other states and also have state estate taxes we got one of the most. Aggressive as state taxes in Massachusetts so if. One of the questions I have we had an and a few sewer at a workshop and I know the answer but I think you'd be good to hear from new moon is that. So once that are you know how they don't have any particular tax trusts playing doesn't. In a state if they have an estate it's tax retroactive to the back to the first dollar rank right. But if they set up proper trust planning in a city have a 2.5 million dollars stay. Does that trust they were saying wheel doesn't isn't it from over two million business to go back to the first dollar to have a trust. So yeah I mean. Yeah so in other words it may or may not so wanting a lot of people do is they oversimplified trusts. So trust coming all shapes and sizes are supposed to be custom built for that particular clients. Goals and a lot of people think she I say at this trust up and it's just a little five page realty trust or something right it's not gonna do it must. Likely play I'm done right if it's done right you can point five million dollar stayed yeah we did trust why both why would it be for the taxes BF 500000. In many cases it might be it might be it depends upon how it was squared away god I'm so within these trusts in number one trust and in many purposes to it. If it's a Massachusetts drafting attorney and there are aware of the Massachusetts a state tax. And it's America legally married couple in Massachusetts. Then they can work with that tax quite a day you're often able to exam to a full million dollars. When the first spouse dies it. Here are often able to obtain an adjusted cost basis and white vote of two million dollars of capital gains tax when a spouse dies. Depends on how are things set up and it has to be done in very particular manner. The important take away I think from. That particular kind study was that. They had multiple probate that would've occurred when they passed away they would have had a Florida probate and Massachusetts probate in Bartz to look Downey. And Massachusetts from an open Norfolk County. Tom they would have been retaining legal counsel for all of those they would've been paying a sizable Massachusetts a state tax. And the assets weren't properly set up in the right kind of a trust. So even after paying their taxes and gone through multiple pro baits the assets would've eventually got to the children. Cluster broke late less a lot of money oh my goodness and ends so SH he was able to look at it unpack it get the assets into the right kind of trusts. McManus a state plane we set up the tax based trust you draft deter us drafted them eliminated. The majority of attacks we don't know of these states can continue to grow and kind of need additional planning but that's something that needs to be looked at samples and those folks. Onto us and they think we're just out there you know they think where you're advisor sees one amendment money via an obvious that's one of the things that we do is a service to provide for our client that we do. But a lot of for our clients in but some clients come in recent hey before you started. A lot time OC music osu with a turning remain since his team because you have a big state tax issue in in now see why ensure advisor. Cover this oh he said and have annually channel here she could have been if you she's in Florida it advisor. They don't have an estate tax they don't know the specifics yet about Massachusetts but what's even. I don't wanna see worse but what taught what's kind of an a little bit strange Keith. Is that advises right here in Massachusetts. A lot of times don't mention it I mean how many Joseph do you have coming in that have advisors and they become too one of your workshops are. All the time we would get a couple workshop is coming up and I'm surely hear it again that we do about Kenny here. And we're frequently hearing folks that have an investment person and need to do a decent job in investing in the cell you don't have an estate tax and they're talking about the federal. A state tax. Which right now as five point 49 million dollar exclusion and exemption yet but in Massachusetts we've got our own state estate tax which triggers and a million dollars in the often completely overlook it if they're not familiar at Massachusetts like if the advisors not from Massachusetts not you know doing business here. Where their Florida person or they just happen haven't mentioned that us. And you've got a net a state of over a million. I would say it's critical to talk to your financial advisory firm like SHB. That is very aware of taxation. Yet which is the largest. To tractor. From growth. In an estate situation it's the taxes. So and it's not usually just one trust for setting up it's usually a set of multiple interlocking trusts to get the job done it's not an easy task. But knowing really important enemy minister Steve planning obviously the fact that we refer our clients who. Trust us for everything to you obviously we know he's doing a great job in that yes some good information on his website which is Plymouth. A state planning dot com to get your feet wet their Plymouth a steep playing dot com I'm a kind of put you on the spot here Keith. Do you know Jim Flick certain times and dates of different events that you might have come I don't they felt quick I promise to his base is available but if you have any. Dates and times where we can have folks call our office to see if we have space he now has great. The next two Roseanne well we have an event coming up. In the next couple days which is already full but that's at the Dennison and Dennis on K cut its full. I'm we also have one coming up in mezzaluna which is and the Wear him on city area yet it was yet another one coming up at the fireside grill which is in middle borrow that's next to my whole Indiana town right around there in carver. So I think if they call as HD they can learn a little bit about the availability in the timing of those those tends to be dinner seminars at around 530 yeah but the dates tend to change in the they fill up very rapidly. Yes you wanna come to an estate planning our efforts he commands and his team met him in state planning. Alina we putting on a workshop again the of one coming up at the mezzaluna and Buzzards Bay another one coming up. At the fireside guerrilla amid a broad if you wanna check in on availability and meet you probably hopefully if you call soon which him walk in a speech to you call 800 GT 77777. To say do you wanna come to you attorney mrs. event. And then we can have so much follow the view from there. Again 802277777. And folks again on the say it's so crucial to learn about this because people come into our office that have. A huge tax exposure in huge program exposure. And that's one of the things you wanna look help you invest your money and building complain and do all the things that are normal advisor would do. We obviously why keep your taxes minimized what have you avoid probate picture we transition assets properly entitle your assets properly meaning how is. What's a beneficiary ire who owns or checking account who injured non qualified brokerage account. That's important to make sure that trust planning and the advisor know what's going on your situation so again. Call for space he has two events coming up. 802277777. When we get back is your retirement just like the Titanic. You're listening to the retirement or America radio show your map to financial freedom brought to you by SHP financial. You're listening to us HP financial retirement road map show your guide to a successful retirement. The phone lines are always open at 1802277777. Stick around the guys will be. We've all heard the expression expect the unexpected. And that's true in life. When it comes to your retirement savings we prefer to say expect the expected. This is Derek repertoire from SHP financial. Our strategies as a retirement planning firm are designed to minimize risk in your changing world. And develop predictable income planes our team works with families to help them take on the unexpected things in life. That shouldn't be all that unexpected. SHP financial we can't predict the future but we can give you a pretty good idea of what you might expect in your retirement. Call today at 802. Q 77777. For a complete retirement roadmap preview. It will help you prepare for the retirement that you expect that 800. Two Q 77777802. Q 77777. Or visit us some line at SHP financial dot com. Why do so many people have trusts for their families. Do I need one and what exactly can it do for me. How old Lisa legally make health care and financial decisions for me if I'm not well what does the estate Tex. And how can I minimize what my family has to pay how do I protect my children from lawsuits or divorce. When you think about the comfort and security of your loved ones there's so many questions that the whole thing can seem overwhelming I'm attorney Keith McManus. And McMaster state planning will walk you through each step of our dedicated process and address all of your concerns. Then. We create a complete and detailed plan specifically for you. We're committed to carrying out your wishes and protecting your family from the courts leans and the tax collector. You see the state planning isn't just something we do it's the only thing we do. When you're ready to start planning for the future. Comic menace estate planning it 5087788855. Or visit McMahon assisting planned dot com. You're due to a C three financials retirement road map show where your route to his successful retirement again. Call BS HP team anytime at 1802277777. Or visit them all mind at SHB financial Don come now here's your host Gerri great. She's jealous ready to discuss how to keep your retirement ship from sinking during the segment. Because you are a member of the Titanic that was known as the unsinkable ship. Unfortunately however risk for discounted lifeboats were scarce in the Titanic became obviously a Titanic disaster. So really talk about some tips about retirement in navigating those waters on the before you do it's funny thought that I wanna bring like this to a delay situation and a timers that Titanic was like this epic you know three and a half for our movie Erin thinks that movie. Never me you know like in high school. Would like to drill I had a crush on sitting on the couch tonight. And the four hours clicked in my I'm around their ever handed mouse clicks so scared I'm glad that zone in memory and he even name it they're all different Celine Dion and never done guys are you still couldn't put the hammer on says she's on the thing the uniform without arms out of whatever I now's the time Dennis our guys aren't telling the world now what's whose bodies. Take it. Doesn't action films yet it is and I will say hasn't been ES hair maybe it was a good actually was a good movie rental absolutely action shots are in the at that time we're like phenomenal. I'm not 100% and I just love it too because it's become in so many different ways that that that the Titanic itself is just symbolic of what everyone talk about. Late in his recent news you side GE got rid of Jeff Immelt CNET that day ahead. And I can't imagine where it's like to have this big enormous bureaucracy is big enormous business and how how do you turn that ship because when you're looking at. You know danger rating had a Villa in must take for averages are lurch into the Ryder allergic to the left to avoid whether it's iceberg or whatever it is. In for all our clients that ice berg is risk yet beyond that didn't do what what what can sink their retirement what it's what can sink their their ship. Is hitting that iceberg just as they're about to retire. And set and then literally that's your one chance. What I mentioned earlier you could be if you're doing yourself for you can be the best investor in the world you could have the best investor in the world. In you may have seen a million bucks in your ready to retire ABC that two or three million who knows. But bottom line is you're about to retire. In as good as you are if you don't have that plan for some money being set aside for protection. Where you can dry your money from because if we have a disaster if we have. At some point we know the market's gonna have to start making a little bit volatile we know what's gonna have a a drop we've had a good run in we're not trying to scare people. But the difference in our clients. Plans number one is ever a time road map which you can only get here and SHP financial. Number two there's a plan and we always urge our clients you have to set funds aside. Without risk without the market risk just to drive income because of the markets down. You need a place that you can draw on that isn't going to be tied to the market performance if everything's in the market. In the markets down and you need money to lift. Yes three appalling money I guess three doing at that. Went to reverse dollar cost averaging then you are going it alone yeah exactly so. You know what we do is we create these lifeboats you know and I mean if you think of it in comparison to the Titanic we create these lifeboats are places. Where people can go. To draw money out to protect themselves because a person we're trying to do with any family comes in is protect their lifestyle yet we want their lifestyle to be. We want them to live the same life that they're living now in retirement so. You know for a nice feel a lot of people got and so complacent because the market's done nothing I mean that it you know I hate to say put. He could third darts against the wall in the market's done nothing but go off for you over it since 2009. And so. You know everyone is predicting some type of correction here in the next you know some people see in the next couple months of people see in the next year to. But there is going to be a correction at some point which is natural. It would do exactly it is natural so you you as an investor US someone approaching retirement. You need to take control of this in start to position yourself in it it's and then you can protect your lifestyle with Nestor people. Last thoughts on those sales came matter also downed them you know Mara and one of our offices no sale will win should I have begun to think about retirement or improvements have begun to plan for retirement. Now is certainly there are two easy answers to that to say hey you should start planning for retirement to Middle East are working early saving for a time San Clemente Starr working. And when it comes to vetoed towards the end when he actually put your notice in and walk away from you're you're job site or wherever it is. Well that is as soon as possible Leo or a deceit I mean. So. With all then set Pittman mind setting up these buckets are we talking about and making sure that there aren't any icebergs in front of us and making sure that we don't have to you steer this ship super quick at the very end and then hit something in there we go. Is that you have to have these buckets established at least a year or six months in advance because we don't know when that when that correction like Keith was mentioning is going to strike. So if you haven't established I mean the sooner the better is is sort of like the of the big answer the air the sooner the better to have an established so that they're the you have smooth sailing. And no no big you know disasters of coming. We have to have kind of what I call the safety and income and those like the lifeboats but you have to have the lifeboats set up in case that happens a place you can draw from that doesn't have the market risk and what's crazy by the Titanic did a lot of the seat boats you were removed because they thought it was too much clutter. For the kind of the high end luxurious. First class passengers. So I imagine that sold me but a lot of folks listening. You may not think you're doing that you but if you're you know the market's been an all time high it's been doing great and we we know that that's that's a fact. Is now the time maybe to take some chips off the table to create that plan that's gonna drive doing comer gossip where the market is not like I mentioned earlier. Ever this summary different competing voices on the radio via workshop limitations you I get. That a lot of folks have you know confusing because a hair all different voices one person saying. Put everything into annuities are the person saying put everything into the market bottom line is. If comment carpet from higher carpenter I want them to show up to my house with a all the tools available. And SA's chief financial that's that we do we we look at the entire picture. And then build the plan around what the client needs as opposed to trying to force something for them to purchaser by a. In this also goes for people that are already retired I mean do you wanna know Kia Kia and your retirement sustain a big correction Kenya retirement sustain a big hit or big icebergs hitting into you know for you to stick continue to talk about how were they retirement can be. But the Titanic I mean. He undid the such symbolism everywhere but one of them as they talk about oh you know rearranging the deck chairs at the ship goes down. REE if if your retirement board hit the site's various again if you're already retired. If it was a hit this iceberg key and you sustain. Or are we just rearranging the in the deck chairs and knowing that if a correction were recur you lifestyle like he did mention the beginning. Is going to suffer through need to know. Why so I declined and I've recently sat down with me. They came to workshop hearse on the radio and basically she had done really well for itself choose a single woman should save about two million bucks in suit she loved investing in the market. Now most clients that come to us usually have us handle everything. This is a little unique Dell because she really said I just need you take a good portion in my money. Men yellow the more conservatively. Could provide income that I need for the rest of my life. And then so we what we did is we built for that plan says she had to secure reliable incumbent going to be there for the rest of her life with inflation. But then we left another portion in the market because she didn't need that the portion series and a mantra like 1015 years. That's OK that's your growth money that your risk money you can have that and that's you know a lot of times we do that for our clients she said I'm comfortable with a market. I'm just not comfortable driving inning complain and we're degraded job Manning come so bottom line folks. It's important no matter where you are no matter how many you know how much we've been telling you for ten years or so and we've been on the radio. In since we opened our doors here and SHP financial and 2003. You have to look at a plan in a rehab you have to have a ring implant I urge that so highly because you don't want and get to the point where it's too late. And you wish tea water and listen to those people those guys and SHP three years ago now it's too late now I can't have their retirement that I could've had. We don't want that to happen. Anyone out there on the radio anywhere I can do give you income plans and invest some plans. Only SHP can you get every time or roll map that looks set income investments taxes health care legacy. All under one roof so you'd have to go to fifteen to from places. We're here to help unfortunately we can't take everyone but we do offer a complimentary meeting to see for a good fit. We have offices in Plymouth west Borough Woburn in Hyannis so call 800. 2277777. Say one of Boca no obligation consultation. 802277777. Or go to SP HP financial dot com. After the break even discussed the Department of Labor ruling and how it relates to your retirement well Britain. You're listening to us HP financial retirement road map show. Your guy Jewish successful retirement. The phone lines are always open at 1802277777. Stick around the guys will be. My dad planned ahead so his assets were transferred after he passed just the way he won it I gave power returning to my daughter. In now I know that someone I trust will be making decisions when I can't. The play and we created ensured that her family would avoid having to go to probate court to get their inheritance we set up the trusts in Paterson would be protected if he got divorced. Careful estate planning is the best way to guarantee me your wishes are carried out to benefit your loved ones. I'm attorney keep McManus if danys estate planning we're committed to safeguarding your assets for your family's well being. We'll take you through our dedicated process he can feel secure about the future. The most important thing is to prepare complete and detailed the state plan specifically for you because the state planning isn't just something we do it's the only thing we do. When you're ready to start planning for the future comic menace estate planning it 5087788855. Or visit McManus a state plan dot com. There's your financial advisor only mean would you once a year to review your portfolio if you're five to ten years away from leaving the workforce your retirement could be at risk. This is Derek require co-founder of SHP financial did you know that you or your loved ones could be exposed to a 300000 dollar tax bill for a 400000 dollar health care bill look at is having a financial advisor if here she is only looking at your investment portfolio in ignoring other potential problems and SHP financial we do more than just manage our clients' investments are customized retirement roadmap plans include income and expense planning inflation protection tax reduction strategies health care in the state planning. If you current advisor is not talking to you about these important issues we invite you to come in for a complimentary no obligation retirement roadmap review. Get a second opinion you retire while being could depend on. Call 802277777. That's 802277777. Our request or appointment online SHP financial buck off. And now. It's time for your weekly financial update DS HP's financial weekly market reports all the things you need to know about the markets the economy and your investments starting memo. So this segment is is our weekly market report. For this week's report wanna talk about a ruling that finally went through. Or for the time being at least the Department of Labor ruling and it really pertains to if you're advising you working with. Is a fiduciary in so Matt instead of going through stocks and bonds in different trends in the market volatility wanna we just need to tackle this issue for the listeners. Absolutely and it really is something that is now the law of the land I mean and indeed part of labor rule of the fiduciary rule. Has been in the works for real close to six years now is when the originally proposed it in LA had gone through all is to from public hearings. It had you know bounce back and forth it had then been sort of approve it but then upon president trumps election it was then delayed. And then the current Department of Labor secretary just said no it is now. A little bit of watered down that same time it's now official as June 9 2017. It is now the fiduciary rule is now law gallant OK so what does that mean what what is the fiduciary rule and why's it important to you know you are listeners and to our business and our industry. Well for people that are don't know their yards to there words still are two separate standards when it comes to dealing with the financial advisor. You know and you dare you talk a little bit earlier about the different financial advisors and kind of what they offer underlying that is well. Is what standard that they are held to in there was one called the broker standard and what's called suitability standard. Then the second is called the fiduciary standard or best interests silliness or break them down on that time the broker industry was there stimulus called suitable or suitability standard win that all they had to do to argue that they weren't liable. If there was ever sort of a conflict of those ever sort of and a disagreement over what investment was recommended. Did broker the financial advisor all they had to do was say hey look he was suitable. Which is kind of a low hurdle because suitable is is a very kind of gray area and it's very easy to argue and potentially win that lawsuit. The other stand is what's called fiduciary standard or best interests. So you have to literally. Document improve so what do you recommended to your client was in the air best centrists not your best interest of the their best interests. Which is a much higher hurdle to get over. And so in that same scenario let's it is a disagreement is a lawsuit and if if that person that advise it was a fiduciary he or she then has to argue that it was in there in the client's best centrists. And if there are unable to do so they lose their license. So it's a much more difficult standard and much more won a higher hurdle and and better practice because you make sure that the clients are getting in in their best interests. So finally Department of Labor just said okay we want change the industry will wanna make sure that every one or more advisors a fiduciary is. Doing where they're able to do it is through I array here qualified money her 401K money through some of the Department of Labor you know we're not some of the IRS not talking about all the different on the bureaucracies. So Department of Labor was the one to say you know what what will do his will target IRA or 401K money. And now make sure that if any advisor out there is dealing with that type of asset. That they have to be they have to be held to the fiduciary standard so if you don't and not marry money you can do whatever you want that necessary means about this old widows still those two standard broker in the fiduciary standard are still out there. Guess that's why something even though it's a law of the land and everyone's talking about it people think everyone thinks everyone's a fiduciary now the absolute immunity is he really hits home the point of the fact that. There are so many different types of advisors out there. Not just what they offer but and also what what standard are they held to and you need to know exactly what that is especially if you're dealing with them. Each and every week people weekly market report if you wanna sign on to get this in your inbox each and every Sunday. It also has our recent radio show. It has different aspects about the market and then some personal information about what's going on in our lives we send it out no charge just go to SH OP financial dot com. Again SHP financial dot com and go to newsletter sign up. It's so cheap now is no malice talking about that. I was thinking if you think about some I was a lot of folks you know. Like you said they're working really hard they might hear some on the radio or go see some advisor and it's why did over the make a decision. But think a boat that's a decision that you once you make. It's someone you might be stuck with a for the rescue life especially if you're buying like a ten year annuity your twelve year annuity or whatever it is joining me show you do it right the first time. And the reason I'm bringing that up is because. Think about just take a second thing about the person you're sitting down with the advisory firm reed you've seen Dallas. Number one I'd say do they have a certified financial planner on staff that's a big question ask. Number two can handle everything can they do insurance annuities but they can they also do the market can they handle the whole financial planning spectrum. Number three what's their process is it something that they can just do you know. I'll do you inning complain invest some plan or is a holistic to look at income investments taxes health care my DC on to wonder if you don't mean because a lot of folks. They may go somewhere it sounds good to sign up right away next to you know its that I wish I dive seem to come into my office bush have been more homework. Well that's his best decision hopefully this law. You think you said you know that tenure in new example that's I think what you're leading to you know now old advisors that are dealing with diary monies are for a one key monies. They need to support. Why they made that recommendation and have you know legitimate statistics of why it was better. For that client so hopefully that cleans up in basically made a great analogy earlier in the show is look at who lake we talked order there. I just did my deck great. If in my father like how mean he brought all the tools because iron hammer in media screw driver Hefner but. If he showed up with only like you would drill. No saws nothing like that he we eat basically you the pointer to make is you need a firm that does everything brings all the tools to the table. So then if you have a situation or if you have. A goal an idea what your retire your retirement you what you want your retirement to look like they can use all the tools to accomplish what it in house we go back to two took. And data on that that Derek made about you're doing your homework and also the process. And it in this session some and we don't talk about two off on the radio is a fact that. You we have a three step process before a client even but before before people even become a client before this on board it. It what I mean by that is okay. The only sit down initially on the on the sort of field exploratory meeting their disk in you know and getting to know people start first of just trying to figure well now we're a good fit. That we have a second meeting to really highlight the goals then the third meaning to make sure that we have to have gotten those goals correct. So weird don't even if even if let's let's say for example the person doesn't wanna do their homework we're doing our homework for you on your behalf at all times because. We have to make sure that the goal is right we have to make sure that the plan is right before we do anything else. What's thank you wanna shop that you wanna go to fifteen from places to build your retirement plan. Pretty wanna go to one place that's been that's fiduciary based financial planning firm CFP base and map pack. And then have that has your messenger Seth Karp on the not only just to have. You know. Piece failure entire retirement plan to put retirement broke map together where the only place and I know they can get an SHP retiree roadmap. That builds an income plan and invest and plan attacks planned a health care plan a legacy plan all under one roof. And so the bottom line is if you're listening mid youth who have an advisor maybe you don't maybe you want a second opinion. Whatever it is the initial consultation there is no charge. In that meeting we're not promising we're going to be able to take you on because we have to make sure we can provide value we only take on clients that we can really help. But to find that out used to take time out of your day spend about an hour with us and we'll see if where good fit the bill due your own retirement roadmap. All you have to do is call our office at 802 T 77777. C one no obligation consultation. Again 800. 227. 7777. Or go to SC HP financial dot com we get back winning give you our retirement roadmap recap did you your top three takeaways from today's show America. You're listening to whereas HP financial retirement road map show your guide to a successful retirement. The phone lines are always open at 1802277777. Stick around the guys we'll be right. You know how much risk is in your portfolio hi this is Keith Ellis co-founder of this HP financial in times of market volatility it's even more important to have the correct amount of risking your investments at SHP financial -- -- -- the award winning risk engineered technology and mathematically pinpoint your -- number and aligned your portfolio to match crystallized replaces subjective terms like conservative and aggressive with a -- number from one to 99 precise way to measure your exact comfort zone for downside risk in potential upside gains are US sixteen or 67 visit -- SHP financial dot com and click the link what's my -- number that's SHP financial dot com. This is Eric Greg are from SHP financial hit it talks you bought your grocery list. When most of them go to the supermarket they know the nutritional content in the cost of items they put their car. My two favorites are ice cream and rabbi. But living on ice cream alone be pretty risky for my health in living on river I would be pretty tough on my wallet. That's or make informed decisions and limit foods that won't put our health our budget at risk but when it comes to investments most of book couldn't tell you which ones are risky. Or if they're paying extra hidden fees. So if you like to know the real risk level and the ease of your investments give SH the financial call 802277777. You may be surprised to find out how much of Egypt actually tang. Or potentially saving thousands of dollars mean to you let SH people your financial shopping cart in order. Call now 802277777. For a complimentary risk in the analysis. That's a 102277777. Around mine that SHP financial buck on. Your June 2 SHB financial retirement road map show where you're route to a successful retirement again. Call BS HB team anytime at 1802277777. Or visit them online at SHP financial Don come now here's your host Gerri great. She's jealous. So hopefully we're able to ride you with a lot of value from today's show as it pertains to your retirement we kind of wanna leave you with our top three takeaways from today's show so keep witch and want to go. Earlier in the show we talked to vote being complacent the market has been on an unbelievable run almost historic so people don't feel the need to make a lot of decisions make a lot of changes but as we talked about earlier in the show depending on who you're reading period there will be a market correction at some point not to scare anybody he's gonna make sure the year assets are positioned correctly to take care of your lifestyle in retirement so it's all about not being complacent come in taking advantage of our retirement roadmap review and would be happy to sit with you talk about the situation. Good stuff do you think about people coming in to sit down on us how after the fact if you took the time schedule the meeting. Rebel to build a retirement role mapped how much better would you feel going to worked after the fact or whatever vision doing knowing that that is taking care console port and you worked their entire life to us. Now we yourself. I'll go back to the analogy there were talking about in regards to gambling and nobody I know are you gambling your retirement. And just wanna point out you know all the listeners that. EU basically retire one or your retirement itself of kind of what you're saving for. What you working for what you have in your mind as to what you're going to do when you leave sort of within nine to five. And I can mean charity work it could be the ashy doing a second job or second career no could be traveling. But whatever it is that you are imagining in your mind you have one chance to do that. That's your one opportunist who won chip. That your placing on that on the blackjack table if you will so just I distress for everyone take it seriously and to make sure that you're having professional help without one chipped. No dumb I agree with that and as so many people right now are gambling their retirement and let's face it works out great that's great you're going to be great but if it doesn't work O'Grady and you don't have a plan. Might be too late and that's through one of what people have doing. So are 45 years of combined financial experience we started this company in 2003. We just we found five distinct areas that we think retirees that one addressed properly. To have the plan that they want and that they've dreamed of for retirement so this led to the creation of our retirement roadmap process which is our proprietary. In trademark process. It's a written plan that's designed to number one common goal of being able to spend with confidence in any economy. Number two its goals to maximize wealth accumulation walked keeping a risk and volatility winning control number three. To pay the least amount attacks is both legally and ass ethically for you in the next generation them before looks to protect themselves against risk of rising long term care and health care costs and number five. Leaving the most behind for your loved ones in the things that you care most about whether it's a charity organization. That's five step process folks that's what I believe. Differentiates SHP financial from the rest of the folks that are out there the full all the different voices you hear that try to get your business. We're not here to try to beg for business I trust you we trust you were doing this is 2003. I feel so blessed and fortunate to have this company and to be able to help people for all these years. We only take folks that we can really provide value to and feel good nice people who see the guy you in what we can do. So we're not promising we can take you wants a client. But if you wanna learn about what we do and how it differentiates from others but more importantly talking to you in your Stanley to enter retirement with success that's our goal. Is to be the last advisor for everyone we sit down with. Don't procrastinate like Keith said don't get complacent. Pick up the phone taken our view time schedule and no obligation consultation. In our offices are either Plymouth. West Borough Hoover and or Hyannis. So call now 802277777802277777. Are gonna SHP financial dot com look forward to seeing you again next week right here and retire road map radio show brought to you by SHB financial. When you're building a home you need more than just four walls. You need a roof. You need a foundation without these things your home would be incomplete the same can be said to your retirement planning. Hi this is Keith Ellis co-founder of SHP financial if your financial advisor is only looking a year investment portfolio. It's like having a house with no roof. At SHP financial when we Cree arc customized retirement roadmap plans for our clients managing their investments is only one part of the process we include income and expense planning inflation protection tax reduction strategies and health care in a state planning. If you're curry visor is not talking to you about these important issues we invite you to come in for complementary no obligation retirement roadmap review get a second opinion your retirement well being could depend on call 802277777. That's 802277777. Or request your appointment online at SHP financial dot com can. You imagine trying to build a house with only hammer of course not so how could you possibly build a retirement plan without having all the tools hi this is back Deepak certified financial planner and co-founder of SHB financial to make sure you know than not all financial advisors are the same and it's HP financial we our fiduciary or required to act in your best interest board really makes this different is all the tools that we bring to the table to create solid retirement plants. As an independent firm we are beholden to a big Wall Street bank or insurance company like some advisors stop working with people that only trying to sell you annuities or. Only offer investment advice and that's it be financial you'll get a full retirement plan that covers in come play an investment plan tax planning health care planning and legacy planning all in one place calls today 802277777. To schedule complimentary financial review that's 802277777. Or visit us at SHP financial dot com this is. Our Greg our message. When most of the go to the supermarket they know the nutritional content in the cost of items they put their car. My two favorites are ice cream and revise the living on ice cream alone you pretty risky for my health in living on rib I would be pretty tough in my wallet. That's or make informed decisions and limit foods that won't put our health our budget avarice but when it comes to investments most of the couldn't tell you which ones are risky or if they're paying extra hidden fees. So if you like to know the real risk level and these are your investments give SH the financial call 802277777. You may be surprised to find out how much of Egypt actually paying. Or potentially saving thousands of dollars mean to you let SH people your financial shopping cart in order. Call now 802277777. For a complimentary risk in the analysis. That's 802277777. Around mine that SHP financial dot com.
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