SHP Financial Retirement Roadmap Radio Show 9/23/17

Weekend Shows
Saturday, September 23rd
00:54:59

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 the retired admiral map radio show brought to you by SHP financial I'm Derek Greg where are joined by Keith Ellison Matthew pack. In on today's show we're gonna discuss things you should do to protect yourself from the next big data breach. Would millions of Americans affected by the recent Equifax breach it's important to know what to do to protect yourself. After that we're going to discuss how to have been difficult conversations with your parents. About estate planning. And memo kind of reverse it and have talked about the important conversations. That you wanna have with your children. About hot when her money what happens if something happens to you. Do they know the steps that are important to take. To make sure that they're getting the maximum maximum value out of your counts and at the minimum tax liability. And some of the things I was dig into as well. And finally you know we can mark report we'll discuss what a private equity fund is in if it may be beneficial to your portfolio. Without being said Keith Matt Garin is two wins this is obviously been huge breach of information. Would Equifax. In I know a lot of we get a lot of you know concern folks calling us and put a little link on our. Faced a page and website just try to help people a little bit but what are you what are you telling people that call what amazing what maybe if you wanna start what happened. Yeah I'd just just make sure I'm sure our listeners have are aware of it but if not indeed secret airport credit reporting company called Equifax announced couple weeks ago and it's suffered a data breach affecting an estimated a 143. Million consumers again a 143. Million. Exposing names social security and other data. Mean who will literally time of the crown jewels of your of your personal information which is against Social Security numbers. Data births things like that it is really frustrating as well just because. And or most frustrating as well is and on and a bad way or print them through bad ways of illuminating. In the sense that. I don't think a lot of people are are aware of the about the credit reporting agencies how they get your information you know it's like any time isn't a privacy policy. If you click a little box on their signing up for this are signing up for that. A lot of your private data eventually goes to companies like Equifax trip transit union new bag exactly. So next you know he hears a company gets it all without really yes really knowing it. And then they get hacked. And then it is such a huge thing I mean literally there's been. You know two days before the act would Equifax breach there was 975. Data breaches this year again closest thousand data breaches exposing nineteen point four million some mean we're talking you know 160 million people are having their information out there are so it's just. For all let him do we have some some good links and things like that to talk about but. Juli is one to make sure that if you hadn't heard about it already it's something that you need to be aware. On 2016. Data breaches reached they reached an all time high of data breaches and then during the first half of 2017. They're saying it's up about 29%. From the same period last year so. As good as is to come more prevalent it's important to take proactive steps to protect yourself so Keith. With some things that listeners can do. Yeah over you know some things that I think most people are hesitant to do is. Don't give your Social Security number and wish you have to elicits it's mandatory early needed by whatever company that is asking for you know. Mean maybe you can use the last four or something along those lines. Beef up the security year counts you know by. You know. Having with a two step process or whatever it is you don't make sure Europe also year passwords. Are not easy like 123456. Or you're you're data berg story you know something along those. He's a migs and very easy to be if maybe if one passwords. You know for you know for you guys you have masked the prime map my name as a pastor and a Derek twenty's yeah Derek Emeril on nobody Eric in Seattle I believe that's it yeah he should have that for all you have to do is giving away my password on all of our listeners are now maybe have island Derrick one on some of them may be like I. Really love yes one on the others who we just changed up with a lot of people to be changing up their passwords so because it's one person gets one. You know call me and you know if it's the same across the board then you get the same for everyone you. Lacks a separate life basically less than M sure there's people listening that have been victims of identity fraud I mean in Indy V generally do one or two things about one example take in information and we'll take got a new credit card and then just didn't go to town who basically you know so avenue critic out outs and a Derek neighmond. You know here go to you know the the nearest Mitt. Mall and I'm go to town. On and then secondly the double take and information in the file. False tax returns on your behalf as well I mean we've had to maybe get a lot of calls around the beginning or the mid April you know saying. You know we need to do this she did you that take an extra step in what they're trying to do is they're trying to follow from you know filed a false tax return to get their refund drank a soda and real. It's amazing just an our own company how much we spend for IT Rask just like arm IT bill if you we horrified but obviously me to protect our. Our clients in their Danny and and it's assuming that. We as we know as a part of the new age that -- -- that we have to protect the folks that we're working with the trust him with our money where their money in it to form for our folks assignment may be armed with us right now I have worked with us to make sure they take the steps. To get everything protect another one matte just to put out there had before if you guys that don't use unsecured Wi-Fi. If you're in some unsecured network in your two putting Alice information there's a chance that someone can hack in and get that information. Well and that's and doing your time like sort of internal Bob policies and whatnot I mean some of this like a broken record room when I say it but you know and had team meetings and whatnot like OK guys don't download anything from anyone I mean. And because IE EMI RO least once a day get this random email it's uneven like dead that your your traditional like gum no Nigerian prince that I needed and they need money can emulate us. Resilient Emilia you know now it's against it's like oh hey we'll measures to enjoy this so you could certainly guy you know getting or is that there it's like hey hey oh openness for your invoice as a go to bill I am I gonna buy better pay my bill insulate. In us I love I mean as a says some of the dead horse but our guys know downloads in a no no attachments if you don't know the send their don't do a thing I mean. Because normally it's its status is human error of the dead that allows the union of the criminals come in self. I think we have a web site to that that we have a link on the that we don't have here but certainly reach out for blood cider or email us ass yet either. If you question do you email us at ask at SE HP and SP HP. And eat like New England dot com disastrous for some information could be your link available to check if you're on the list number one. In number two ways that you can protect yourself going forward. Another one is it's a very common thing that he should be doing but I noticed you know when I was brought up a bit Unita young age. My parents would the first in one of the first things I learned was how to balance a checkbook Lou and we know that has kind of gone the way of the dinosaur a lot of folks now just. Swipe their card and pay the credit card statement or company comes office a debit out of their cal. But make sure your checking those accounts regularly fur purchases a message madam member going to this place I remember. Paying 2000 dollars set so and so company he knew you make space sheriff's noted on the ordinary day. It's also true in I've had a client re show they like him I have what this in my cocaine in the indeed these Steve thought about putting a freeze on their credit. Now you can do that the good news is that they can't nearly can't take autocratic power and they can't do this. The bad news is akin to silly by new property or or really might have a little bit you have to go back and unfreeze. Your your credit score. But the same time if you have bind new property any time soon that's something you might wanna consider. Yes all these things are pouring in its is one of the things that's a timely topic we want to bring up to make sure we're always providing value. He's gonna make sure helping you going forward as you get to enter retirement and obviously a data breach could. Could change your retirement alchemist you have a lot of money. Take of your count are somewhat takes your identity it's a that's a big undertaking that you deathly don't wanna. Have to go through if you can avoid it so SHP financial. Our main job stability you are retirement roadmap we work with you one on one to build a road map that consists of an incomplete and you can't a list. I invest in play and then Max is your risk tolerance attacks planned to minimize taxes both legally and ethically. Health care plan to address health care expenses in retirement in elect is illegal plaintiffs to make sure your state plan is addressed going forward. All these areas are important and make up your retirement roadmap so if you need our assistance. Pick up the phone and give us call the number is 802277777. To see one review fear retirement roadmap. On your retirement road map again 800 GT 77777. Or go to SC HP financial dot com. We'll be right back to discuss how to best have the typical conversation with your parents about estate planning to stay tuned. 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. 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 SHP 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. I decent many people have trusts for their families. Do I need one and what exactly can into form me how old Lisa legally make health care and financial decisions for me if I'm not well. What does the estate capex. 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 McMahon assisting plan dot com. Your June 2 SHB financials retirement road map show where your route to his 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 well. She's jealous as we continually meet with the listeners like yourself from this show. We find that a lot of view out there have different pieces of your plan put together. But a lot of folks in FE MA members are lacking important parts in other retirement plan that when you neglect them. Could be the difference. Saving or spending. Hundreds of thousands of dollars or missing out on important tax savings in different areas of retirement c.s obviously when you build a plan. Young is still wanna leave important parts out of it. In like I mentioned earlier in the show. The best time to build and implement a plan is when you don't need it in so. I'm going forward I want McPherson geez see my guess it just keep him in a Smith's estate planning idea and I'm doing great Derek thanks for having me there great great to see is always and thanks for all the advice he provided for other sister so many years now obvious in what we get them and I compliments over the over the years and we really appreciate you know you can either smile on the show up for. I say much in my 21 year of law practice he started it is I really totally yeah five kids think so I thought I feel still feel that way that's that I think you know a pretty young and it's like we just race this is our fifteenth year of this company companies like wow I'm high high slide you know that's he's planning opportunities you get to do them wallets in front of the U and so the title of this segment if you well aired its five estate planning topics. To discuss with your parents ya on this comes up a lot yes so wait so what are you telling folks what are people so part of McManus the state planning process is having a review meetings and having family meetings in other words. We wanna be proactive with clients and we suggest having conversations. Not necessarily illegal conversations getting into technicalities. But making sure the family members parents children are on the same page so they know what to expect and so they have the best result. And also to maintain something that's really important. Nick menace the state planning an SH feet which is family harmony correct in order to make that work we've come up with five topics. That are great for listeners to just kind of you know sink their teeth into it and take advantage of this RS let's go what's the number one. Topic feed eight people assist us and not number one topic which jumps right up the page is do we you have a will or trust do you have an estate plan so to the first conversation is has any effort been made to develop a current. Hop today. As state plan so that's can include documents like wills but primarily we want documents for the vast majority of the states. To be based around up to date trusts that are gonna deal with avoiding probate addressing estate taxes. Protecting assets from lawsuits and divorces and things down the road. And asking your parents or children you know having that Stanley conversation about is it time to do this and the time to do what is right away. Correct before you need it or before it's too late you know it's just it's amazing how. We talk about each and every show I mean as folks that come man in. You know they just ghastly what's your state plan like well. It's at ten years ago I learned I mean it's amazing I think a lot of you listening should think about getting a second opinion at a minimum I mean I was talking to. Another advise that we know from the industry and he's out and the other part of the country. He talked about just himself he was diagnosed with enforcing cancer two years ago yeah in. He went to the doctor and they told missile you have to do and he said OK and then just to make sure you get a second opinion. In that second opinion in the early saved his life time high in so obviously and this is not anywhere near as drastic as app player in the world of estate planning financial plan. About planning your yourself a second opinion on what you have to make sure you're not missing anything because you might think you have this plan that's doing what it's supposed to be doing. If you are keeping a normal coughing contact with your advisor in your estate planning attorney like we do here. That's something even if someone comes in to meet with me in the and we're building a plan they say yeah I haven't a statement did five years ago. Always say we need to get it is a low opinion make sure it out I'll take your word for I believe you let's make sure it's accurate. Forever in a workable condition and you'd build often something you just said Erica with the healthcare decisions the number two. Topic is in a have you named your health care. Surrogates your health care agents in as well is he an attorney in fact likened her power of attorney to my eyes that of course those are really important documents. Have to do with in the event you become incapacitated. So with the way medical technology is these days. More and more people have a period of disability or periods in capacity before they've died. Sometimes these can be lengthy. Periods of time when they're not in control of their decisions they're not able to communicate sometimes. So for you was a client being able to have up to date current. Health care proxies. Hip authorizations. And powers of attorney are critical. To avoid having family members. Need to get court approval or probate court approval for things like GA Els guardianship this conservative or ships or even in regards to having minor children. You know having temporary order is set up so that. If something happens and you've got little children so there's no delays they can immediately replaced with a family member if you become incapacitated. You know it's a there's no kind of disruption in the lives of of miners are incapacitated people. I'll take number three is is simply are here are beneficiaries current and in an aim to so when you. Maybe have a work Paul Sierra life insurance are the beneficiaries up today in everything you have. Which are easy and I'm before make sure that you keep your important documents that's at least less than one person no these documents are. Because if you need to use a health care proxy year Darrell power attorneys needed. Well Sony's knowing that document is right and so those are three for an all you have when number five if you don't mind. Which is basically. Are you able to or any other personal wishes are matters that should be discussed outside of those. Major is yes so for number five are there any personal wish is we want to make sure your state plan and your financial plan work together very well. And their customized to your situation these are not supposed to be templates these are not supposed to be. One size fits all documents you're supposed to be customized to your situation. Is this a state can any to deal with taxation. You need to know that is it important to protect the assets for the next generation protect them from divorces and lawsuits are. Nursing home claims or what exactly is that Stanley looking to try and focus on. That's a very important piece as. Just think he says our our offices are always in communication we work as a team to make sure that the client. Is getting the best of both worlds from a legal standpoint from a financial standpoint. And then making sure S things change that we up to each other so if situations fine. Great we are you ready to get going keys for more advice but down the road assuming happens they have a grandchild unfortunately US special needs issues and we need to do things. My office in attorney remiss is offices always working hand in hand for our clients which is important. Because you don't want you may make sure that those professionals are talking all the same team and so what out what I wanna make known is that. Referred attorney ministers some live events in what he does he educates you on exactly. Why at some point look into these areas educate you on what do trust is what do the mean for benefits of having a trusted for some people. It could be saving 23400000. Dollars of taxes. For your next generation. He's doing a couple of events in October. So if you wanna sign up one of them is pine hills. In Plymouth the golf course in the other one is fireside in mid of our. Both their dinners and live event or is going to be discussing the areas we just we just went through. If you wanna see if there's space available which I believe they're currently is but obviously they Philip fast. Call his office but why yearbook yourself into one of these events the number to do so is 508778. 8855. Again pine hills in fireside both events are in October. He gets it you know me angry with Keith as well as learn about exactly what amnesty women look like on your situation why it's important for you and your family to discuss 508778. 8855. We just talked about having an important conversation with the parents narrowed and reversed a script the nature for you parents. How to have that conversation with your children. About the best way to inherit money and take over if anything were to happen to you. You're listening to the retirement roadmap radio show your map to financial freedom brought to you by SHP financial state Duma grip back. 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. You spent most of your life working to succeed all the money you saved in the past that you've earned are going to become your family's inheritance. Carefully document in this transfer of wealth in the state plan isn't something that can be trusted to just anyone. I'm attorney chief McManus at McManus estate planning the only thing we do is estate planning. My staff and I are 100% focused on making sure that every dollar all of your property in every assets goes to your loved ones at the right time. After all you've done to build your wealth he should know that it will remain intact. Will develop an escape plan based on trusts for everything you need to preserve your legacy. We'll provide you with a thorough set of documents that are specific to you when your state. Because the state planning isn't just something we do it it's the only thing we do when you're ready to start planning for the future comic man's estate planning to 508. 778. 8855. Or visit McManus a state plan 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 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 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 wellbeing could depend on call 802277777. That's 802277777. Or request your appointment online at SHP financial dot com this is. Eric Greg are from SHP financial can talk to you about your grocery list. 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 be pretty risky for my health in living on rib 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 the 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 SH the financial call 800. 2277777. You may be surprised to find out how much of these you're actually paying. Or potentially saving thousands of dollars mean to you let SH people your financial shopping cart in order. Call now 802277777. For complementary risk in the analysis. That's a 102277777. Around mine that SHP financial buck on. Your team to a CHB financials retirement road map show where your route to his successful retirement again. It's called BS HP team anytime at 1802277777. Or visit them online at SHP financial Don come now here's your host Gerri great. She's jealous. Over the last few months in many many years actually we've we've heard from you loud and clear in a lot of listeners. Has come into me without some time like this to such a lack of planning that goes on out there in the financial world most most of you have investment plans in stocks bonds mutual funds. I think what separates us from many of our competitors and other people that work that work in this field is. We don't only just been diligent investor plan we don't only bill do an income plan. But we look at tax planning strategies health care planning strategies. Legacy planning strategies it's all in one place it's all here and SE HP financial we have that team in place second helped get you to enter retirement. And I quoted one of my clients that come any needed you know their vote five years away from retirement. And they were just so excited to get going and build up plan they ask you what the best time to build and implement a plan as NASA Noah when they said when you don't need it. Who is so important because when you don't need it. That's when it's time to build the plant so that when you do need it it's in place and you don't have to worry about trying to go back. In a few things EU came into it that points to latency what you're saying is it's that'd be proactive. And reactive T exactly so the best time to build the plan is when you don't need it so here five years we've retirement. Getting your start building the plane that you that you work so hard to create if you wanna meet this a different way we also have to workshop coming up that's services on mentioning we didn't do. As many this year we're starting to get back in the groove of doing live events that you can come meet us learn about exactly what we do but more importantly how we can help you. Get to enter retirement with our trademarked retirement roadmap process so. Without being said we have two events in October. They got in Woburn straight up primed to steakhouse and over until it's dinner we have an office right above that restaurant. We have Tuesday October 17 as well as Thursday October 19. If you wanna sign up for either of those days to come yes 6 PM Woburn string of prime go to SC HP workshops dot com. Again that's SHP workshops dot com. If you're more South Shore this is our main office Plymouth. It we have also we have events and an October beginning in November I believe as well Amir go in and spy in Plymouth mass so a few more. You know the neck of the woods of the Plymouth South Shore area. You gonna SHP workshops dot com sign up while the space available would love to get to know you meet you at this event which one to get that out there before we talked about. An important topic that most advisors. Don't talk about their clients with. And you know Wheatley it's one thing that we always stress in math and you say you had a conversation with a one year client's daughter is. Just about a week ago because now you build this plan and you get this plan in place it's all ready to go for retirement we looked at income and investments taxes we do all this heavy lifting for our clients. And then what. The next step is to make sure that there is some sort of communication method which and asked me to talk to the children. And or are we put this language right into our clients plans they get a physical plan that they can holding go through but Matt that's how important to make sure you communicate. That to the next gen re in it was and is a wonderful. And sort of meeting in general to see a scene my client and in not to say that this is the only reason why a via some biased but I is Hillary's in my wanna work with with guys like us but. No we are on the younger side you know 3940 years old and I'm talking to a client has presented there. As M thirty for a couple of months. And field events and a time when a client one of our events and he just said you know to thank you so much for taking the time to. Two to kind of review who with the finances the fundamental finances with his daughter. It was so important because you know this gentleman you did really well had a vote to three million dollars fully retired now. One of his daughters it you know she's getting an MBA says she is she's really real really savvy understands financed well as other one is on the West Coast and no his Mormon art seized type of lifestyle and is completely you know now I'm in a season she's very Smart but not necessarily when it comes to finances. In just to be able to spend you know twenty minutes half an hour 45 minutes with fair to say okay here's some indeed that you need to consider now at your age. But then establishing that link because at a certain point time you know she's gonna inherent in a closed a 1000002 million dollars from her parents Jeff. And the thought of that going to waste or her being taken advantage of somebody that's not looking out for her best interest in the eighth just meant so much for my client to know that I'm going to be there are making sure that his daughter. Is in its you know that's a waste it. Well imagine you working your entire life to get through this point and you leaving a nice amount of behind your children. In your advisor is not really he's there she's there and everybody involved. As part with the Stanley communicating in if that person if that beneficiary or your daughter or son. Takes the money the wrong way. And doesn't follow through on the planet you may have to them that could be like us 500000 dollar mistake from a tax standpoint. We're not that to me in terrible practice what you preach and sometimes people ask me the same metal Q what happens to you obamacare will guess but I I've Derek thanks Keith and I have been a whole a team of twentieth write this that's got them you know it's all put that continuity so mean. You eat you need to have that continuity in your business and it obviously for her true self employed guys like gusts. But you need to have a tepid continuity in your own family. I'd recent climb mad that joined us say listen to this radio show for many years and they came in he sat down they said you know what. He one of the main things is not acknowledge the lack a plan to their working with a gentleman doing fine doing the job for them but it was just him and Monica and assistant. In ninety something happens to them on even know what am I do so the main reason they chose us not to mention the many years you've had the business and the expertise. But also just really that Mino extremists are fairly young but also we have a team has twenty of us here that's also not a stunning happen god but the one of us systolic they're going to be left in the dark. There's a plan in place that's going to be aqsa cheated. For the rest of their lives to keep and you have conversations as well what's one what some of the things that people should be thinking about when leading money behind to the next generation to educate them. You know we can set I think most people are having these conversations these advisors are not having these conversations with the children of the client which I think is so so important because so many mistakes are made in that transfer of wealth so for instance the majority of our clients' money when you look at it from a percentage basis is pretax money and everyone contributes so much to their for a one k.'s may be can match is long ways for 57 plans for a three b.s and it accumulated all their wealth. But it's all pre tax and what happens is they go through their lives are taken their required minimum distributions or the amounts that they need oh and then something happens to them. To meet this is the most important piece of any when educating. The armed children on how to take the money because there's options that they do half in one of the best options available. Is treating it like a stretch IRA or an inherited IRA. Not taking as a lump sum in that year obviously depending on their tax situation the amount having come their making you know there's there could be some circumstances where it makes sense to take it as a lump sum but I would say. 90% of the time you're better off looking at stretching it over that person's life so. The IRS actually has required minimum distribution deals most people think they started seven and a half. And actually goes back page one you know so my grandmother who's 88 lead my son Trey whose story terrorize Arial he can stretch out IRA for the rest of his life taking his required minimum distributions therefore leaving their compound in interest in place it's so so important. And there's other things that your advisor snowballing trust planning how to handle a trusted administered trust and work within attorney afterwards to make sure everything's carried out according to your worst is. This so many more things we can discussed at the bottom line folks is are you getting this proactive advice. If your advisory team. In place that's gonna take you to enter retirement the has a proprietary trademark processed it looks Ali Erisa retirement. And then educate you in the next generation on how to carry out those bush is going forward. If you don't now's the time to be proactive bill the plan why you can before it's too late. Give us a call we have offices in Plymouth west Borough Woburn in Hyannis. We love to sit down you to buy an hour of your time but it could be a difference between success and failure retirement. So take of the phone now and call 802277777. To say you want in no obligation review one of our offices again 802277777. Or go to SP HP financial dot com after the break brand discussed put a private equity fund is during a Wiki mark report America. You're listening to a six speed 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 Matt packed certified financial planner and co-founder of SHP financial. If you were tired and have been fortunate enough to save a million dollars or more for retirement you're in an elite group and should have an investment strategy to match. As HP financial team dedicated to helping build on the success did you all ready create. We want to keep the lights don't you have that's what we're relentless. When it comes to protecting your nest day we want to get rid of the unnecessary fees at higher net worth investors pay. The overlapping investments. And keep you from paying too much in taxes. This can give you more of your money. Look you expect fives are serviced and we're here to give the team. Cause it's. 802277777. Will review current plan is show you how our team could be your team. Call 802277777. Or visit us at SHP financial dot com. For over a decade in this HP financial is help the people of New England lived more secure comfortable lives by providing safer more complete retirement plan to call us HP today at 802277777. That's 802277777. 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. Can develop predictable income planes our team works with him leased 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 our complete retirement roadmap review. It will help you prepare for the retirement that you expect that 800. Two Q 77777802. Q 77777. Or visit some line 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 and the economy and your investments starting memo. So wanna get back to the conversation that we left last segment on and in different ways to to make you having a conversation with the children from before we do as always you wanna give you weekly market report and go through a topic that may be new to you mean we've heard before but we wanted to try to describe to you a little bit better detail so that being said we have our certified financial plan map pack here. And we're gonna discuss what a private equity fund is a few credit before if you wondered what it is. Brand discussed what it is so ma'am I need to be the floor. Absolutely American. In this is really come to the forefront because it is sort of a wave of alternative investments where you know investments themselves don't necessarily fall into either the equity which is stocks or herb bonds in the fixed income in a sometimes referred to alternatives. And primarily just because OK people are looking for yield looking for greater interest. So now there's all this talk of private equity. OK so I wanted to explain the private equity is how it works and then how he can have access that are potentially access that so. What a private equity fund is sort of a group of individuals that looks at it there are experts at manufacturer. OK so they sort of form an investment fund and they say our target certain private companies. That I know my expertise is is in management or manufacturing so I know that if I can take over that company. Apply all my expertise I would be able to clean up that company make it profitable and then sell clean Bill Belichick going back to the browns the exact BC's did you sign at a system imitate them I think acting in an investing in Bill Belichick exactly aces CC you're now Nobel's testament and he's he's building up that team moved from from the situation and it is right now so him as coaches are what are called the general partners okay. They're the ones that have the expertise to have the football knowledge that have the ability to go in their really clean it up then you have what are called the limited partners. Well Bill Belichick might be able to have them the mental acumen to do that but he night he may not have the financial. So what happens is you have to levels in the general partners that are gonna get in there and manage it by it. But guarded by at any capital flow McKenna raise money that through banks or on the limited partners will then buy into investors. Investors exactly so that's kind of what we hear about like going into private equity wolf. That's because their arm potentially. These general partners these people are looking to raise money because they have companies in their sites that they know of they buy it they can clean it up and make a profit. Here's a couple things of note number one is that regulators usually require that a private equity investor B was called and I. Accredited investor so this condition states at either as investors net worth exceeds one million excluding a primary residence our annual income exceeds 200000 for individuals or 300000 would spouse. So there's only certain amount of people that might be able to do this directly. In addition the general partners develop secondary can your example you know they're charging one to 2% to do it plus they get 20% of their game exactly so. They're still 80% is sort of passed out in in general private equities done very very well in regards to the market but it's difficult to get in Su in. The last Salim is. The fact that there are you know to some anti war for Israel statement OK it's although location if I can just sort of find out where the private equity is investing may be acting fine you know get some access to it. So assuming Cano asked here at ask your advisor on C we can we have some input there too. Think how can access it there are some hurdles to get in there might be some they consider if it's your situations good. But long story short that's a private equity is in that salad that's why sort of come in the forefront. Yeah I think it's important just to educate the listeners now you can have a educate conversation on what private equity is going forward and maybe we can consider if you wanna give us a call we can certainly help you are. Maybe not depends on your situation to make sense to you obviously but the court to know what it is. As it pertains to the market we know the market's been doing well we are having kind of a different type of educational event coming up that we wanna. Oh are you on in the topic is called understanding. Market corrections you have to saying well why we buy and wanna stay in my corrections a market's been up for. You know nine years straight parry years straight but it's important to realize what could happen. In steps to take to make sure you avoid it because the last thing you wanna do is be in retirement or close to retirement. And take a huge hit on your nest eggs so. We're having true different what we call whining she's talks one implements on Tuesday October 10 in another one in Woburn. On Thursday October 12 both of them are in our offices are Plymouth office October 10. We're to talk about what market corrections are. The history of market corrections. An amazing impact on your retirement savings. So again if you wanna sign up for that event's going to be a wine and cheese social event Plymouth Tuesday October 10 from five to 7 PM. Who burned Thursday October 12 just call our office 5087462400. Again 50 wait 7462400. Or go to events that SP HP. And some last segment guys are talking about the importance of having that conversation with the kids and keep it talked a little bit about. You have to have a lot of IRAs 401K money behind you wanna make sure your children have what's called the stretch IRA. Illustration runs and they know how to take that money out to maximize the value. And minimize the taxes. Matt is also she thought a level of trust knowledge an advisor should happen there working with all absolutely minimal one as to how to executed trust it and as a lot of okay how are these assets going to be distributed when no need to be distributed. And how what's at a cost basis that's involved too. I mean I love having the conversation between parents and kids because. Remember when you pass away owning an asset or war with with trust planning you're able to get what's called a step up in basis. Paris in my BS he must have a good basis since. So imagine you invest so you know hundred grand in GE's stock for you know thirty years ago and now that seems docket where the million dollars right now. You're kids inherit that at the million dollars and you know if you sold during your lifetime now your payments called capital gains. But if your kids inherit you get that million dollars tax for a outside of an IRA account how to correct. So the reason I bring that up this cause I love having this conversation with families to say okay. If we are talking legacy planning. What stocks are better suited to kind of by rain holds so that when you pass away. Your kids are getting this grace up up in basis and at that point they can sell that stock you know depending on what they wanna hold onto or not. They can do so so he ends up being this crushed generation type of conversation that you need to half. Yes a tease him mad at the bottom line is who we build the plane and we we have literal plans that we give our clients a nice blue binder. It was a huge joke you'll now Mike holding in my hands for the radio show but if you got a picture and ice blue binder that you're named it's your plane it's your retire roadmap. In every single page is a different aspect of your plane and exactly where you were before in where you are now that we've helped you so from an income planning standpoint. An example looking in front of me before. The folks that came into our office they had a gap of income of 3000 dollars a month that they want to cover. In it no plan for what gets up based on XY and Z now they have an income playing coming in for the rest of their lives when inflation. So not the word Bunning comes standpoint that we talked about how we built their invest and plan to manage risk minimize these. They're paying 30000 dollars in fees before they came to us now it's a lot less. So bottom line is we go to healthcare we go to legacy we go to taxes we talked about us that the next generation. These are all things if you're not having these conversations ongoing either if you are planning to yourself. Or if you're meeting with your advisor once or twice a year and that's all you talk about is up you may twenty bucks you meet September send you lost 10%. It's great that you're making money but of course you make money the market's up. This so much more to consider in a plane and the just the returns on mutual funds stocks and bonds. So if you're not having this conversation with your advises if you're not having that conversation in general you owe it to yourself to come sit down on us for review. To see what makes us different and how we can help you we have offices in Plymouth west Borough mover and in Hyannis. Don't procrastinate the best time to build the plan is when you don't need one so call 802277777. Again that's 800. GT 77777. Or go to our website SHP financial dot com. We get back when take a deep breath. We talked about but a lot of information on today's show we're gonna summarize the top two or three areas that we wanted to leave you with as the most important from today's show America. 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. If you are getting ready to retire chances are you into the workforce over thirty years ago. A lot has changed since then in you could expect at least as much change over your next thirty years. This is certified financial planner Matthew packed from SHP financial cohost of the retirement road map radio show her right here every weekend. Our team helps people transition their finances from work to retirement. Since our focus is on retirement we're familiar with lights Kurz as you age and we can help you prepare for them. That's why we say expect the expected. Our goals to minimize risk and develop predictable lifelong income plans to hedge what life brings it. Give us a call today to 802277777. For retirement road map review. And we'll help you prepare for the retirement that you expect and deserve. Call 802277777. That's 802277777. Or visit us online at SHP financial dot com. For over a decade this HP financial has helped the people of New England lived more secure comfortable lives spent providing safer more complete retirement plan to call us HP today at 802277777. That's 802277777. Have you watched the game show where someone nesting 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 your retirement acting team we don't want you to play especially near retirement. While the market's near all time highlights. To give us a call today at 802277. 777. For complementary risk analysis in retirement planning session. Or 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. At 802277. B 777. 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. It as HP financial dot com. Your June 2 SHB 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 SHB financial does come now here's your host Gerri great. She's jealous. We have a few minutes left so we wanna leave you with our top few takeaways from today's show some math wanna get right into it now we see time which atop take away successfully go back to the original segment on the Equifax a data breach again these are sort of like your precious jewels of data private information Social Security numbers data Bertha setter. So everything encourage everyone to check and so make sure if you were compromised and take the necessary steps to protect your data going forward yeah if you wanna contact testing email us ask that SP HP and. Blow with a market hitting all time ties with seems like on a daily basis some people forget the pain that they may be fell back in no way so we're doing an event called understanding market corrections because believe they're not at some point stride and happen but more importantly what were really trying to find out and educate people on is how can affect them. How could do you rail there retirement so we're hosting two events. Both in our offices one in our Plymouth office who won and are Woburn office Tuesday October 10 from five to seven it's a wine and cheese event Derek myself from now will be there. Had a talking about an undersea helping people understand. What a market correction can mean to them in the second event is blue burned Thursday October 12 from six to eight same type of ideas will be doing the same event twice. One in Plymouth on October 10 in one and move bird on October 12 if you'd like to reserve a seat it's SHP financial dot com. For an in my and one of the things teeth I'll mention is what's neat about this event is we're gonna share with the folks that are there we can actually show you what your risk numbers meaning with the current portfolio. Within within a pretty good approximate range how much you can make him a good market and how much you could lose in a bear market. Now assuming that you should probably know because some people come in missing Derek the most I can lose ever currently is a 100000. In our review their portfolio and asset Freeman of the 2008. U it was 500000 missive salute you may have to make changes. According to how much will your actual risk tolerances so you wanna learn more. I sign up to the event October 10 or October 12 and if he costs are numbers 5087462400. That's our made Plymouth office 50 wait. 7462400. Called the sign up. My final take away we talked earlier about two things one is the important conversations that you wanna have with your parents. And then also important conversations that you won how would your children or grandchildren. I'm all hot to inherit your money how to take the funds he works so hard for and make sure that their XQ you on your wish is going forward. Bottom line that we see is that many folks come to our office right from his radio show in this such a lack of planning that goes on out there. So our retirement road map process we develop we start our company in 2003. And we developed our retirement road map process which is trademarked. It looks at income investing taxes healthcare legacy. All under one plan one umbrella in many folks have investments and doing well right now because the market tie. They don't they have the other areas covered don't know whether incomes coming from they don't know if it's gonna last for the rest of their life they're not sure they're maximizing. Their legacy to the next generation and minimizing taxes a lot of their advises aren't talking to most health care planning. If this sounds like you if any these areas sound like you and you want to learn more just pick of the phone we have offices for you in Plymouth. West Borough. Woburn in Hyannis this call 800. 22777772. C wanna sit down for a cup of coffee and have a review with us to build your retire road map again is no obligation to sit down. 802277777. Or go to our website at SHP financial dot com who want to wish you a great rescue weekend and we look forward to talking again next week right here in the retirement roadmap radio show brought to you by SHP financial. Q how much risk is in your portfolio of hi this is Keith Ellis co-founder of SHP financial in times of market volatility to even more important to have the correct amount of risking your investments and SHP financial -- risk allies the award winning risk engineered technology then mathematically pinpoints your -- number and -- your portfolio to match crystallized replaces subjective terms -- 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 -- financial dot com and click what's my -- number into the quick five minute questionnaire in you'll instantly determine your own personal risk number then we can build your investment portfolio to match in clearly define the path to your financial goals put the most advanced technology to work for you find out what your risks number is two day visit SHP financial dot com and click the link what's my -- number that's 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 work. Acquired 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 that's it be financial. You'll get a full retirement plan that covers in come play an investment planning tax planning 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. This is Derek 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 rare by. But 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 are budget avarice 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 may be surprised to find out how much of Egypt actually paying. 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 dot com.
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