SHP Financial Retirement Roadmap Radio Show 8/12/17

Weekend Shows
Saturday, August 12th
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 -- CFP Derrick Greg Marin chief Ellison a sixty financial relations to offer investment advisory services to 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. George to do this HP financial retirement road -- show with your host Gerri great warranty journalists and Matthew they know that the road to a successful retirement is made with consistent care and 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. Winning 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 and 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 John. Sit back grab a pen and start your engines here's Derrick Max and cheese. Welcome everyone to another weekend edition of the retirement roadmap radio show brought to you as always by SHP financial. I'm Derek Gregg who are joined by Keith tell us in Matthew pack in today's show gonna talk about how to protect your wealth for your heirs. We've attorney keeping me in this the minister state planning. They're gonna discuss. What we see a lot of folks missing and that I'm pretty sure is missing out of your retirement plan for all the people that come to our office NTELOS what they have. These usually this one or two areas that are so important to retirement planning. Then you may be missing. In your own retirement plan. In a weekly marker report we're gonna talk about not taking the bait. Don't change your financial strategy. Just based on your thoughts of where the market is state shooed away your financial goals are in pillage your plan accordingly we're gonna tell you some statistics there that'll probably. Surprise you but first we're gonna talk about high you to retire like a pro but myself Keith not nearly as former professional athlete. Right lorries and my dreams and to have the Americans are cut and that was my goal somehow I ended up as a a he owned this company for the last thirteen years of my goal is supposed to be professional baseball player. I see in day and we went to that and that goal meet reality thing goes well. Fifteen years now ha at night I played Tennessee furlong time not at anywhere near pro level one I still enjoy it for many years now and it's a point when you have kids. Anything you're in the outfield playing center field to left Felix Seve playing this at like 25 years old. Where I'm not going anywhere I'm not getting exercise and I've thinly sourced I just wasn't you fellas and go to summing propriety I wanna move like basketball. In a foul on you know we just didn't make sense apple. It also just shows you the importance of time meantime is I think all of our listeners ordinary he had time is a finite resource million have so much of it so but we feel like to spend it you know is it. Is it with your family is it is it working now what is it. You know it is hiking or whatever it is a mean yet to be some selective because there's only so much of it. Ranked woman riady actually had three or four friends that were able to play professional firm some some for 1015 years some for a year to. Tom NN they're all seem to be doing pretty well in the all kind of beat up save money they made so much tomorrow my good friends again made so much. For that ten year period then knew I was never gonna make anywhere near that for the rest in my life. And so it's important you serious and he he even tells me stories all time other athletes say he played with. And stories of like them getting ripped off for getting into these bad investments and just not really. Building a plan knowing that they were in their peak earning season. Lot I was thinking of it I love the story of our gronkowski what he's been doing a mean supposedly a money manager of this is that this is true but. I've heard that he is he's been banking every single dime from his contracts and is he knows the saving that. In strictly living off of his endorsements yes you know I had I love that love that a love that approach didn't as your sand Erica just having the plant near Nike he's we're walking into his career saying okay I'm gonna save this money this is for the long term. Live off of this. But you know in in who knows whether nine innings and work out in the future because obviously there's no you know net none of us know what the future holds. But in this view the plan going into it ninjas of the new look back on New Year's and and it checked in on and you have something to sort of mark to see a game time in my hitting my goals towards it so I love that concept that he took to it. What cities a lot of folks that are listening. That aired from working their entire life they're most like potential their professional athletes because when they're playing football basketball baseball hockey whatever they're playing. They're not focusing on their wealth focusing on the craft. There while building up wealth is the building up and all of a sudden wow I'm retired. Now I have to live off this wealth I've created in a lot of folks listening they probably had the most money they have had. In their lives. But now when it comes to retirement planning it's a whole new ballgame. Yeah it's a fundamental shift in the way you think about your money you've you've you've spent. The last 2530 potentially forty plus years doing what we call the accumulation phase accumulating all these deaths is just. Doing the best she can discrepancies and for this big you know at that point in your life. And now you've dead death fundamental change from accumulation. To distribution. You know that's really the most heated that's that's the hardest transition for most people to make into retirements almost like climbing a mounting you know you climb this mowing you get to the pinnacle point. Put most of our understanding is that most injuries if you're among climber happened on the way down it's kind of the same thing in retirement if you don't have the proper plan in place. Are you then I'll live your money your money and keep up with inflation so that's why it's so important to have a designated income plan in investment strategy. The kinda work cohesive link together to make share they're gonna do your money's gonna last as long as you do and you can leave behind the nest egg you wanted to the next generation. And it's also not getting any easier to guys I mean we will noble long Jan the end and how long people living I mean. Yeah that this who has retirement planning itself even thirty years ago twenty years ago maybe even ten years ago was easier than it is today if you will mainly because. Yeah we were living less than reliving today I mean people can literally almost anticipate. Being retired longer than they were working treason I mean that math doesn't work out unless he saved and have a plan because if the only working for 25 years and retired for thirty. There's a disconnect there. Well the key thing I want the listeners to understand those either but every doing travel around listening. You wanna make sure. That you're you know think about when you're working you have the ability when you're further away from retirement. You can make more mistakes. In still recover. Whereas when your five to ten years from retiring or if you RT are retired. You have a lot less room. To make an Arab because a costly error at that point you're no longer you don't wanna go back to work you can't save anymore. See you can't take that hit so we're gonna get in his later in the show annual cost that you wanna stick around for some good stories. Com or some kind of sad stories I'm unfortunately of what we've seen just being in this career for so long. But you wanna make sure that you're taking less chances they hear you're setting yourself up with a plan because you cannot afford. To make an error on the way down or when you're taking money out of your portfolios that's when it becomes kind of the scariest time. It's so. Don't do what we do here in a Citi financial. Is is bill do you it's called the retirement roadmap for the SE HP financial retirement road map and we created because a lot of folks were concerned about how long term money gonna last. Is ma am I taking it too much investment risk that's gonna you know and market dried down. Could hurt me now you on the lot of folks forget the market can go down it's been up on upswing for so long. It tingle down. Somebody you might say I'm nervous about taxes how to reduce taxes or what of all health care as so many clients in pro prospects coming into our office. Asking a single number one concern is how to pay for health care in long term care costs and then finally what about leading money to next generation. In the concern is used so many people that you hear on the radio and advertising for workshops in this in that. That and one of my doing complaining in one of my do Social Security Max musician the other or might you trust planning. We try to bill did you plan that looks at all of those areas in its holistic. In its inclusive of income investments taxes health care legacy. Under we call our SH OP retirement roadmap. So if you wanna learn more of those things that I just brought up our concern do you him into your financial future if you're five to ten years from retiring. Or you're RD retired. We invite you to get educated come meet our team see if we're good fit we have three events coming up. Saw a kind of go quick here but it is either he's our website too you know and SH OP workshops dot com. The NF c.'s. Wednesday August 23. At 11:30 AM here in our Plymouth office turn on the waterfront in Plymouth Massachusetts we also have a dinner seminar dinner workshop Tuesday the twelfth. Of September and mezzaluna restaurant in its in Buzzards Bay Indian mezzaluna Buzzards Bay Tuesday the twelfth of September at 6 PM. And then we have the 21 at the big club in Matta poise it. Also at 6 PM so if you wanna come learn more about what we can do to help you and to start building your retire roadmap. Go to SC HP workshops dot com reserve your seat while there's space available. SHP workshops dot com. After the break we're going to be joined by attorney Q2 minutes to discuss how to protect your wealth for your heirs you're listening to the retirement roadmap radio show your map to financial freedom brought to you by SHP financial we'll direct tax. 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 we'll be right. Are you recently retired or less than five years from retiring if so there are so many things you need to consider our trademark retirement roadmap process is designed to build protection around things such as Al living your money preserving your assets from excessive taxation fees in market risk. Planning for unexpected health care expenses are planning for hire assets will be transferred to the next generation hi I'm Derek Greg our co-founder of SHP financial and host of the retirement roadmap radio show heard right here on this station if you're near retirement we invite you to one of our upcoming lunch or dinner retirement workshops to hear more about our process to see if we're a good fit for you we have a lunch workshop coming up on our Plymouth office on Wednesday August 23. A dinner workshop a mezzaluna and born on Tuesday September 12 in a dinner and workshop at the big club med a poison on Thursday August 21 to register visit SHP workshops dot com that's SHP workshops dot com you've heard are radio show now bring your retirement questions directly to us during one of our special lunch or dinner events is visit SHP workshops 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 is the estate tax and how can I minimize what my family has to pay cut my 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 in 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 McManus estate plan dot com. Your June 2 SHB financials retirement road map show where your route to a successful retirement again. It's called 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 welcome keeping menace to the show from remiss estate planning Hawaii today I'm doing great Derek thanks for inviting me wee hours appreciate you having having you on the show further venom on security now and we appreciate and our listeners always give as good feedback so. Thank you very much for that how much pleasure in so let's get right into it you know we're talking about how to protect inheritance. For a lot of our folks listening right now. You have children grandchildren that's really what inheritance means it's not to say that whatever is left behind goes behind. You really preserving it for the people that you care most about which is Dan probably children grandkids nieces nephews whoever it is. In as part of our retirement roadmap process which we wanna continue to let you know about. It looks at five key areas of retirement. So if you go to an average. Well wire house or big company or most financial advisor is again the focus on. Income a little bit mostly investments those of the that's Dave manage your money stocks bonds mutual funds. But if that's all you're getting I think that didn't old age of just having an it advisor that just looks at one or two areas of your retirement. You can get so much more value for that Cecil makes us different and why we set up our entire road map process we look at income and investments. Because that's crucial everyone needs that plan. But we also look at tax planning. Health care planning legacy planning because you can have the best income and investment plan in the world. But if if you're not protecting yourself and protect in the inheritance for your children and grandchildren. What good is that investment plan nine and so I think we do we want to bring some yet to listeners some attention to that. In let people know what's going on out there and how we can address some of these areas may be some Casey samples of sat. Absolutely you wanna you wanna hear something that I see. All the time it's very very easy to fix your fur for clients. So if found if you've got an estate clarity believe you have one. The majority of the state fans that we've reviewed. When you when you get through the plan and others after the people have passed away and the documents have actually been saddled. A lot of plans will simply move the inheritance two year children and grandchildren and have your money. Merger with their money all under the children and grandchildren's name and Social Security number now this is not. An ideal way of doing it and moving assets if you ask me I know why do you can tell us why absolutely. I'm so. Let's imagine a situation where you've got an estate plan that the end of the day when you've passed away your assets have moved your children's name and Social Security number. And the following Tuesday. They get divorced but there's a lawsuit against them. Or they get critically injured but the developer chronic illness or something awful like that happens guess what happens is your assets. The inherited wealth as well as their own assets all are at risk right now. So one of them. Most valuable pieces I think we have an ethnic menace estate planning client is we'll have the clients. Move assets into trusts. And these trusts for. Large estates and very smallest states and everything in the middle we can develop protections for your children and your grandchildren so that as the assets. Move along as the generations pass away. The wealth is moving. Probate court free. Wind it's moving can't tax advantaged way so we're addressing addressing the estate tax not only Massachusetts but the federal if applicable. Capital gains tax exposures. And then the end of the day. Moving the assets into trusts for your children and grandchildren that are very easy to administer maintained tremendous protections if they're done right. And can even keep the assets separate. For your children and grandchildren's personal layman social so that if anything bad or negative to follow the children or grandchildren and their lifetime. They can always count on the inherited wealth. In that family trust correct and I think. A lot of listeners most folks if you like fifty million or hundred million. You're getting all this done to you already it's natural to have income investment tax legacy all that. A lot of folks under the 101520. Million dollar range don't get that advice that's our and that's our niche where the of 500000 there. Our five to seven million. We're trying to provide that overall serviced at the orchard net worth a high net worth getting in that's building a full plan so. In the good thing about us is obviously our firm in your firm we talked to each other Alia as we've common clients and things change were on the scene impede our clients and have to worry about. Com their financial guiding calling their attorney and it's it's helps sink it together so that we were talking communicating on your plan in so. I wanna share an example because obviously that's one area that you're helping them win this that's protecting the assets of that. When folks do you pass away goes to their children or grandchildren. In a way that's not gonna leave them exposed. But even from an estate tax issue once you have a million dollars or more you gonna be at the Massachusetts state taxes right inning and hit that tax so. I'll give a quick example if I can have a common client that we work with the better than a few months but it's a good example. There ST was probably about two and a half million. Did no trust they had an advise and they're paying pretty good fees to. They didn't do was that they like him but he is that this is all we every get his investment advice and we need more. So they want someone to quarterback the situation. So. That basically what happened they had a tough couple 100000 dollars roughly in state tax exposure. In they also had no protection of internal health care down the road so I'm not gonna tell the not a Jagger so any longer but what we did for them. Is we set up a plan that gave them each 400000 dollars. They had to pay for but as 400000 dollars in a pot of money that they can either take out while they're alive. If they need long term care or home health care. Or they didn't need it that it's 800000 combined would pass on needed to each other for the next generation. Obviously income tax rate. So from health care standpoint we able to protect them with a 800000 dollars worth of money for future care the end board death benefit. That's kinda health taxes in legacy planning. They're from an estate planning standpoint real deceive them to get. 200000 correct couple 100000 dollars. By having your job to trust not only provide that state tax protection but also some additional protection like you said for the next generation capital gains. Probate avoidance so that comment was like you know Derek even if our state they're joking around the given if you don't do a good job investing our money we know you well. The other advisor can be the best in the world but if he's missing this 800000 dollar gap that we had not healthcare plan. In if he's missing or she's missing this you know 300003000. Dollar whatever was a state planning task. How much they have to learn to make of a million dollar difference on their portfolio which is only about one point one million not only that I'm Zain for that. From attacks is so that's about that's what real holistic plan is not just looking at. Income and investments having a full plan having everything then title properly to reflect the estate planning trust. In continuing to monetary and being communication with the each other without our firms to make sure our client to getting about. Service yeah I think a good red flag for someone as you know if if there advisors are not already doing mess they could to maybe. Sit down and graduate up to a level of advisor like SH he had understands this stuff so. So that you is that consumer don't have to educate your advisor society as advisors was he educating you know the consumer and that's what we do. And that's I guess the downside is we can't take on every single person who calls has to be good fit for us tonight you know in any good fit for the person listening but for those who. Fit the criteria in can find value we do we can help them to provide them value. They can become an they have become good long term clients. So if you are not getting if no one's telling you right now for the Cuban advisor may be you don't in here she is not telling you anything about trust in your states over a million dollars let's say. I mean that's coming like concerns properties asset is red flag big red exactly hearing from the attorney himself come infer review they might be things that you can help yourself with their protect yourself for. They don't even know about it right now that could be an impact commute to be huge difference. Your kids graying kids what they can do with your legacy. So we invite you now to come in call. Come in for a cup of coffee firm and our complimentary consultation. We have offices in Plymouth west Borough Woburn in Hyannis see if we can help worst case would play if you're on the right track hopefully we can help you in other ways but come in and take that time. Number is 802277777802277777. They're going to SHP financial dot com. Chances are you may be missing something from your overall retirement plan. And we're gonna discuss that right after this break. 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 we'll be right. Back my dad planned ahead so his assets were transferred after he passed just the way he wanted to 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 insured to her family would avoid having to go to probate court to get their inheritance we set the trust supporters shouldn't be protected if he got divorced. Careful est. Planning is the best way to guarantee me your wishes are carried out to benefit your loved ones. I'm attorney keeps 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 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 in co-founder of SHP financial to make sure you know that 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 stopped working with people that only trying to sell you annuities or. Only offer investment advice and SHB 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 duck. My wife and I thought we had a plan for the future I am Mike Bryan from college so many many things that are involved in a state planning that we really didn't know or part of it until we met with key and then he helped us put together plans a lot of practices and managed estate planning create meals and track. Help protect handling and Aron Harry ten not a we have a plan. My mind rest easy knowing that our future is secure our daughters is a comic and it's estate planning today idle 877888. I eyes. Or visit H privacy planning attacks. This is Eric Greg are from SHP financial hit a talk Q bug your grocery list. When most of a 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 be 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 at risk but when it comes to investments. Most people 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 SHP financial call 802277777. You. 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. Around my neck SHP financial buck on. Your June to a CHP financials retirement road map show where your 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 certainly get into what may be missing from your retirement plan. But before doing just want to recap because we've been talking about this. On our show for the last you know we started our company in 2003 we've been on the radio from most ten years now. It's an on site I do I don't do the best job of you know making sure you listening know exactly what we do and how we can help. If so what is our retirement Roland what is the message if you retire Roma want to holistic plan. That we've built that we built for our clients. They'll accept five distinct individual areas of retirement that we think if you plan for each of them will really increase the odds of having a successful retirement. So what it is is having an income planned an investment plan attacks planned. A legacy plan and a health care plan. All under one space in our message appear retire road map to one plan in each area has multiple angles to it and what that does. Is it allows you to go to one place that knows your entire picture back to work with here CPA quirks of your attorney. Can we create this who we think is an all star team. To continually monitor your entire plant as things change tax wise as things change your family. We can continue to update in track you're playing going forward. What that means is that you can go on with your retirement. And not to think about all this not to go to fifteen places to get a full planned on. It's all done here at a CHP financial we use our us ourselves our talents our staff. As well as other folks that we work with like CPAs and attorneys. Again to create your individual customize. Holistic can be of any more adjectives to retire roadmap. Because I want to make sure that's out there so if you're looking to learn more. I'm Mohammed to help you the best step to do is go to SP HP financial dot com is on your resources this past radio shows. Information MOR company why we're if what do fiduciary is why we followed that standard for so long. You'll find a lot of it again SC HP's financial dot com. In so as we get into. One may be missing from your plan I think some of these stories resonate we view. Because we're gonna share clients' stories of folks that came in right through this radio show. Into our office in the last few years in tell you kind of where they were and what their goals are. In what they were not getting. Out of their particular advisory firm that they are working with some math and you said you had talked off there about a story that was Perez activity of just as we were sort of prepare. For the show I mean in also go back to what the plan does Soria file one highlight the the flexibility of the plan and the in how away as you were imaging Derrek and we track everything throughout about how Leo lifestyles change situations change risk tolerance change your goals change etc. so I love putting together a plan for people. But and also maintaining that plan and monitor bearing in and doing all the work after the fact does isn't just. Sales gimmick I mean this is something that we take people through their entire lives as their lives changed. You know a great example is that you know I had John and Mary who were living up in the North Shore. You know using sales three years and she was a real terror their plan was to retire and a couple of years and then move down the tape. But within their sort of landed at number three to five year horizon. You know John and losses job in sales. And so that threw them off dramatically from what they what they intended their last couple years of working to be. You don't get prior to getting that notice how they saved ardea decent amount of money at this point right there were doing great deal working within a different guys re firm. And the other advisory firm was doing a great job when he came to performance in managing their money. So. What happened though is that when they sat down with that firm. Dino and the kennel and a nose in the cage John just losses his job thinks of sort of changed. And speed and affirmed tested OK that's interest in art look that now hey let me show you but this great stock they just did really well foyer of the stock and did a great story I mean there was such a focus on point. Right in new such a focus on the investment plan and into their credit they were doing a good job it wasn't like they were doing a poor job there. But there are such a focus on that that there wasn't the focus on what their what their lives we're going to be in what they're goals the war and how drum happily. That changes when someone loses their job. Yes that's that exact story gets you mentioned that is something that's so common it's not always some losing their job. But it's like though going to an office in those talks there lies there in this 'cause I see this all the time. You know say you know I've I must devise a so long and I'm going to make it change because it just focusing on the money pardon did not looking at the tax angles and healthcare and you know lasting change in my life. In so what you just mentioned right there that advisor from an accumulation standpoint. Was doing a great job them absolutely. But as you get the whole point you wanna teach me to get everything else they wanna take away is getting up the mollen Mikey mentioned earlier where the accumulation stage of life. Is a completely different plan to completely different type of advisor. There when you get to the distribution stage of life in terms of how that money. Going forward is gonna be used to supplement hearing com hi you can plan for tax is high implant for legacy it's all just different type of plants are you a lot of times your advisory tell folks. He they've done a great job for you so far but now you need to shift it's a shifting you're nuts for our retirement road map comes and keep Torre saying you hear another client again a similar situation and. He had a nail them down in Hyannis office. In the end met with a few other firms unfortunately. The firms weren't looking at it again holistic Lee you know one of the firms actually just said hey look. But by an annuity and you know with a portion of your money. A case now they're going to this firm to buy an annuity would they do with the rest of their money there's no kinda it's almost like having two quarterbacks running out of running a football team or two quarterbacks running a situation. That doesn't make a lot of sense because they're not talking to each other you know and I mean it's. How did they know the plane is being executed correctly then also these people again very similar to Matt's situation there getting some pretty decent investment advice. But they had. Little over two million dollars of investor Valassis plus realists seeing other things along the way. And they were only being talked to about their investments of bio you know we can make history could actually which don't get me wrong it's ultra ultra important. However. You know these people are getting ready retired this year at the end of this year one. And to. There in their mid sixties now they've accumulated this wealth and they weren't being talked to about tax planning in about legacy planning of oh building out a strategy. To make share. That the assets pass officially till next generation is tax efficiently as possible for the next generation. So they weren't getting this holistic advice they were just getting that 11. Piece which. Most people do most general get that one piece is just. As you get older and you build wealth. You need to demand more you need to get more. Well I picked same thing had a client that has done that would there buys it for twenty years Easton the noted Erica like the skies and a great job for us. Well he's only focusing on investments in my set them remember I said imagine like the patriots. Obviously passing is a huge part of the game and and you have to work on the passing game but imagine that Belichick and his team ready and said you know what. We're just gonna focus on passing. And that's all we're gonna do. It sounds crazy right fills you like the patriots that's the same thing as what you're doing if you're working with someone who only looks at investments they're not looking at taxes health care. Legacy. Income and then it's like Belichick just having Brady threw passes on team. Tongue in defense we don't need to work on defense we don't need to work on special teams so imagine showing up for the game on Sunday or whenever they play. You might not look too good because the only focused on one aspect. Of the plan now we all know that Belichick focuses on all the areas of of a game plan just like serious safety financial we don't just build an investment plan that's a big part of it. We go to your retirement roadmap to help solve your income major investment needs tax planning legacy planning and health care plan. So we have a few appointments available if you wanna sit down all of us take the time it's an hour of your time is no charge we have offices in Plymouth. West Borough Woburn in Hyannis call 80227. 7777. Book no obligation review. CEO we can help you build the plant seed off the war of all these areas going forward 80227. 7777. From go to SP HP's financial dot com. After the break and how we can market report don't take the bait don't change your financial strategy just based on high you think the market's going America. 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. Back to 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 Renoir co-founder of SHP financial did you know that you Wear 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 dot com. 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 for your retirement planning. Hi 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 host 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 your 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 request your appointment online at SHP financial dot com. 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. With a market at all time highs and and things seem to be going well the last bunch years we've seen nothing but really solid gains in the market. It's easy to take debate it's easy to start thinking I wanna get on this train I know I have a conservative mindset and Mac plans to be conservative but. I wanna jump on this train now that things seem to be going so well well as we get into you might want to second guess that. In changing your goals around just because the market seems to be doing well. Because it could have drastic effects so that being said this is our weekly market report and we have our certified financial planner and here Matthew packed so map for those listening. It's all you hear is in you've watching TV year watching the news or listening to the news you hear a lot of good things market hit record highs market hit record ties. So should people be changed your strategy is up and jumping on the train. In AA in his short the short answer no. But I don't blame people leaders as there is saying you know the Dow broke over Tony 2000 demeaned in India media loves numbers like that you love like big flat numbers even though it's an average in there's thirty stocks in there are you are asking bit of the thousands of companies that are out there yet it's a great number to sort of hang your hat on and and add to a headline the we sort titled this particular report about not taking debate. Because there's an old saying and that stocks go up and escalators. But down on in elevators and you know so slowly but surely go up and then whoosh the the the soot the rug gets pulled out from under your legs. And with changing into a heavy. Equity portfolio. Is something that you really have to take a hard look at depending on what your goals and you risk tolerance and your what your objectives are. Because one of the biggest challenges for investors is discipline. I mean we're all human beings and so we we we see those reports on Leno on on the you know different media outlets. And we just you know you get all jazzed up here liking and Greenspan called an irrational exuberance to you know will win the NASDAQ bubble was up forming in the late ninety's and into 2000 so. It's it's a natural feeling to say hey I wanna get on this this Derrick is your sailing on this train. But but here's something a one hour you know run some numbers diet to show you how long we could potentially take to recover from losses. Meaning that if we start to chase returns. Okay here's potentially what it could mean. For one are let's say let's say the market goes down 20%. Our rights are down to money. Now to gain required to breakeven is 25%. So down Tony now only 25 to get back up there. Now assuming a 5% in return that would take four point six years. Larry so we lost 20%. Will need 25 just to break even not to actually make any money. In refrigerator return to 5% they'll take us four point six years. For the first loss of like 40% less as remind goes through a mean literally so if it's a 30% loss were talked into it takes 42 point 9%. Just to breakeven. The simian 5% return at seven point three years. 40%. A loss 66%. Just to get even. And again 5% return ten years. So that the number goes on and I'm sure our listeners are getting the point depth wine whatever goes down you need more of bit. Two. To breakeven not to make money. And assuming that you get a you know sort of a pretty good return 5%. You'll take anywhere from four to say fourteen years for it to come back. Which then brings up the but everyone's situation I mean. Do you have the time because I was talk about that a vote the other 20072008. Crisis okay. When that happened October 9 2007 and it is when that began in the index went down over 50% you know at some points during the crisis. It took until March 5 of 2013. To fully recover. So five point five years. In and I sort of use that number for a lot of clients as as sort of a threshold I say okay. If it took five years for us to recover from one of the greatest and economic calamities since the depression. Do you have five years can you give me five years where you can you know not touch the money right. Yeah right I mean if you're retired that's probably not the answer probably can't do because you need the money to supplement your income for it as it's very dangerous game your playing. If you're flirting with a market in could potentially change your lifestyle we're eighth in. In his that there are just reports after reports about how the average investor generally speaking earns a fraction of a balanced portfolio like a diversified portfolio over twenty year period. Because generally speaking the average investor is her chasing gains in in reacting to. This type of euphoria and he's the you know then we see the news though there is he's going to. Marcus Joplin what's going. On and they make it did so at such a spectacle than they thought I get out I get a you know now they did in their one always ask me what made me lose so much money 2008 or someone came in the fresh off the street to listen to the radio show. How I was much money well the answer is because you salt Rex to correct if you have to if you can't take a hit like that yet MP shouldn't have that portion money in the market. It innocence and am curious as an open up do you guys deceive you guys have been getting calls in I've got maybe one or two from yes from some for existing clients is saying hey man you know I really seeming gaining on no mom I gnome and a moderately conservative portfolio you know issue we turned up a little bit because you know according to reports there's many recessions on on the on the horizon. Now the fur is certain individuals yes if they are stirring come is all set. If their if their risk tolerance is okay if they have the five year time horizon yes you can sort of adjusted a little bit but have you guys been getting those calls from my clients. I don't I get Polly wanna to last year and I and one of one person A says no this no way we're gonna do that is you can't afford take the risk it's like. A two by Harry's parents have these you know oil exports yeah talking football and I'm always like it here. Up in the fourth quarter by twenty points but you're gonna start. Throwing the ball the place and without concern as exactly says solar or you gonna run the ball which is a lot more room safer approach because. Throw the ball should work in a probably over some more points and you can make more points but it can also. Become a loss if it's not execute so why take the chance a lot of you listening or taking chances. That great it's paying off so far but you don't need to. So I didn't have a client SN one and we what happened is I told the mass the about two million bucks in the were doing fine but they need access to their money from him for a portion of ticks supplement their income. So we meet a deal we said what would be the point we could take a side even if it lost 60%. It would have no effect on your lifestyle so and that being. Couple hundred that whatever was -- attempt five or 10% of portfolio we went super aggressive. Like super sector funds in 19 and obviously it's done phenomenal but but yeah they know that this could lose 40% to release he said the key word which was. Is long as it doesn't affect their lifestyle if if that money goes down in sex or lifestyle then it's a nonstarter. Exactly so here where you are now as your as your listening. To you know if there was a market correction. If you look that it planned to so that you know no matter what you if the market job thirty or 40%. You're still on track it's not gonna change your lifestyle I see too many advisors take for granted. And what's gonna happen admit if something happens they gonna give them money back they gonna help you how I mean that's at your whole life can change. In an instant if you don't have a plan built around certain events so. If you don't have a plan if you're not sure what would happen if the market did pull back. Comments at Dallas were happy to help you out and Elise who walked you through a process. But the day to what's called our retirement roadmap builds your retirement roadmap to look at income investments. Taxes health care legacy all under one plan. The easy work is I knew just to take an hour of your time to Dallas for a cup of coffee. We have offices in Plymouth Woburn west Borough in Hyannis. So pick up the phone call are now 80227. 7777. C wanna sit down for no obligation review again 802277777. Are going to SP HP financial dot com. After the break our retirement roadmap recap rule recap our top three takeaways in today's show you're listening to the retirement roadmap radio show your map to financial freedom brought to you by SHP financial regret that. 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. Have you watched the game show where someone testing into questions under pressure and decide to risk all their winnings or cash out. Hi I'm Matthew pack co-founder of SHP financial. When it comes to planning for your retirement acting team we don't want you to play. Especially near retirement. While the market's near all time heights. So give us a call today at 802277. 777. For a complimentary risk analysis and retirement planning session. We'll get a good understanding of your current strategy your goals and risk tolerance. Then we'll ship a plan for you can grolier nest day without feeling like you're risking it with the quote wrong decision. So make sure to call SHP financial today. And 802277777. For your complimentary risk analysis and retirement planning session it will take about an hour. But just could change your life call 802277777. Or visit us at. At SHB financial dot com. Are you recently retired or less than five years from retiring if so there are so many things you need to consider our trademark retirement roadmap process is designed to build protection around things such as Al living your money preserving your assets from excessive taxation he's in market risk. Planning for unexpected health care expenses are planning for hire assets will be transferred to the next generation hi I'm Derek require co-founder of SHP financial and host of the retirement roadmap radio show heard right here on this station if you're near retirement we invite you to one of our upcoming lunch or dinner retirement workshops to hear more about our process to see if where a good fit for you we have a lunch workshop coming up on our Plymouth office on Wednesday August 23. I did a workshop a mezzaluna and born on Tuesday September 12 and it didn't workshop at the big club med a poison on Thursday August 21 to register visit SHP workshops dot com that SHP workshops dot com you've heard are radio show now bring your retirement questions directly to us during one of our special lunch or dinner events is visit SHP workshops dot com. Your June 2 SHB financials retirement road map show where your route to a successful retirement again. It's called BS HP team anytime at 1802277777. Or visit them online at SHB financial does come now here's your host Gerri great. She's jealous. So we're gonna get into our top takeaways for TV show but before do you just want to remind you. We have three live events coming up we get to know us get to know our team and trying to get to know our process and talking to you to enter retirement. So Wednesday it will the 23 of August at 11:30 AM PM a luncheon learned in our Plymouth office then Tuesday September 12. We have a dinner event and mezzaluna Buzzards Bay at 6 PM. As well as the 21 we have a dinner event at the big club in Matta poison at 6 PM for a dinner. If you want to register for those events register now while there's space available. It's all you have to do is go to SP HP workshops that's plural and ass on the end. SHP workshops dot com so chief we talked a lot of today's show a different areas of retirement when a lot of people might be missing out of their plan. What's your number one take away. You know people do so well in the accumulation phase of their life saving working working you know putting this money away. But then it comes to retirement and I quit it's like climbing a mountain you know you climb mount and you get to the top Muni it to somebody looking and all these different things way up there enjoying it collar hard working you just did to accomplish that. Now you get back down the mountain you know and that's what we refer to as like the distribution phase in I don't think most people realize that whether it's mountain climbing or portfolio allocation whatever it is. Most she injuries happened on the way down animals' deaths occur on the way down the mile an end. That's when you know if you are not properly. If you don't have a proper plan in place that looks at all these different areas income investing tax health care and legacy. That same fate could happen to your retirement. Yet because when you retire you don't wanna go back to work at least most of my clients. Are not plan on back to work anytime soon so he writes he dismissed the way down under the distribution stage your life is so crucial because you cannot afford to make mistake now. It and that's also a guy go back to the first segment that we talked about today you would too is the young athletes and about how retirement a lot like professional athletes because. You'll have an issue really the short career I mean you know on C athletes have anywhere from ten to fifteen year and now they have fifty years for them to plan for retirement. And just how important is for professional athletes to save and have a plan because there working is you know ten years they retire for thirty well retirement is very similar. You gonna have the most amount of money that you probably ever had hopefully you know upon retirement in now what's the best way to distribute it so that it lasts for your Google could be equal or longer than your working career. So really it's wanna make sure that everyone has a plan and placed his retirement is a different ball game. And that's leads to my final take away and just seeing my own parents who have both thank god retire in the last couple years and obviously their obvious clients of mine too. But think about the sacrifice it took to get to where you are from the money that you see in the planning that you've done to to get to this point. I mean all those winter days via shuttle now you're driveway area missing you know one year children's games has yet to stealing a worker didn't get a job done. All the sacrifice that you. Did in your life to get to this point. Please do not chances at this point don't. Don't forget about your retirement make sure your proactive. Take some time sit down with a us we can help you build the plan so that you don't have to work that's the goal. You don't wanna get to the point when you can retire but a mistake is made and next thing you know. The retirement that you wanted and dreamed of he's no longer available thank you worked too hard. So we wanna offer you an a and no obligation consultation on one of our offices. Take an hour of your time could be the difference a year entire retirement again 802277777. Is our number the sign up for no obligation review 802277777. The good SHP financial dot com have a great week everyone and we look forward to talking again next week right here in the retirement roadmap radio show brought to you by SHP financials are you recently retired less than five years from retiring if so there are so many. Things you need to consider our trademark retirement roadmap process is designed to build protection around things such as Al living your money preserving your assets from excessive taxation fees in market risk. Planning for unexpected health care expenses are planning for hire assets will be transferred to the next generation hi I'm Derek require co-founder of SHP financial and host of the retirement roadmap radio show heard right here on this station if you're near retirement we invite you to one of our upcoming lunch or dinner retirement workshops to hear more about our process to see if we're a good fit for you we have a lunch workshop coming up on our Plymouth office on Wednesday August 23. A dinner workshop at mezzaluna and born on Tuesday September 12 in a dinner and workshop at the big club med a poison on Thursday August 21 to register visit SHP workshops dot com that SHP workshops dot com you've heard are radio show now bring your retirement questions directly to us during one of our special lunch or dinner events is visit SHP workshops stock option. 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 that not all financial advisors are the same and it's HP financial we are 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 banks or insurance company like some advisors stopped working with people that only trying to sell you annuities or. Only offer investment advice and ask it be financial. You'll get a full retirement plan that covers in come play an investment planning tax plan health care planning and legacy planning all in one place calls today 802277777. To schedule complimentary financial review at 802277777. Or visit us at SHP financial doc cop. 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 at your investment portfolio. It's like having a house with no roof at SHP financial win 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 advisors 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 and it SHP financial dot com.
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