Jan 8, 2017|
Derek Gregoire, Keith Ellis and Matthew Peck, CFP® empower today's retirees and pre-retirees to help them make better financial decisions for their future.
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 retirement roadmap radio show. Brought to you by SHP financial I'm Derek Greg who are joined by Keith Ellison and Matthew pack two were especially excited for today's show because we're gonna walk you. Through our process and more importantly how are processed can help you were actually dedicating if you will there directing the show. The folks that are either recently retired. Or or thinking about or going to retire in the next five years so again. If you are taught to retire in the next five years or recently retired or thinking about retirement. This show is designed for you. So without being said Keith Ellis Matthew pectoral into law today absolutely there's out here again it's no complaints if if if you are no one's listen in myself Kelly is on and I think that hat. And so. On the show we talk about our retirement road map process in the reason we say our retire road map process but it's designed for you. It's designed for our clients have been working with a since we opened the doors here in 2003. Game we started out to give you little background. We started out working for a firm in 20012002. That basically went up you went out sapped our clients. In in all honesty they told you what to offer. When the US 35 or sixty or 25 about how much income you had you had a book of products if you well in in certain vehicles that you could sell. And that was it and you were told to sell the also in 2003. At 2324. And 25 to three of us left that firm in started SHP financial. With their reason it to bring you in our clients independent. Not unbiased advice and what the whole world at our fingertips. To be able to offer the folks at common. In every time we get questions over the first couple years every time we had questions and keep the man you can relate to this. It was always about one of the five areas of our retirement account of our retirement roadmap. That we built so forget the question it's always on what about the tax ramifications what do both Social Security when director that. How to leave behind money what about trusts what about my investments how to reduce fees so when we built our process many years back. Our process designed to build five. Individual plans for you. That make up your retirement roadmap so and we see so many people they go well. They go to one person to get their trust on the go to this other guy and they they have a few investments that their old 401 k.s but nothing's working in unison. So our retirement romance designed again to have five individual plans starting with income then investments. Then taxes. Then health care and finally legacy. In those five key areas in five key plans make up your retirement roadmap. So this show again as we dedicate to those that are about to approach retirement or in retirement we wanna give you some key things to take away and you need to be thinking about. As you get to this and the when they called the golden years for him. A military just think of is the fact that the united as he talked with the people that are either prove to retirement or or or just give recently retired. These are the folks that need these all five areas you or generally speaking you know because. You know now is the time that they're transitioning away from their employment you know from their from their earned dating come. And they're the ones that need to set to get their ducks in a row with the five years away or whether you just retired. You need to make sure the cheering come clan is in place that your tax plan is in place that your health care legacy at setter and in. And certainly will be going through them and throughout the show butts who did it mean those are the people where it's critical. Wears shades great if you started doing this when you thirty makes a little bit easier but if you haven't done it and in your just about to retire center would withdraw your assets you better have a plan. And by doing this by getting this taking care of and building at the right way the first time you don't wanna put the other house and do it. Yahoo! you know halfway you wanna go full head of steam and build the proper plan. Including all these five areas so by the end of the show we wanna get you confident as you approach retirement knowing they pay if we do this right. We can have a successful retirement be comfortable and enjoy our time as opposed to worrying about that area. PN and what I find a lot of times guys and maybe you guys can build on this as well is. When people come in and sit down with a us they are you have a plan in place maybe your they think they have a plan in place and what we do is we kind of take him through our process and and by the time we're done with our process and show them what it is that. We can do for them which I think is a lot more than probably what most people are getting and if you haven't seen. Exactly if they. They say well you know they kind of take a step back and say OK I thought I had a plan media I don't you know any Meehan then that's when we can say hey look. If this is something that you want to hope with because. A lot of people who come in they have a great situation which is trying to enhance Sydor tweak it make it down much better weather is from me. How they leave money behind to the next generation. Or from attacks is standpoint or from an income standpoint. That's all we're trying to do is just take it. Probably pretty good situation in most but in most situations. In enhancing and give them the peace of mind to know that everything is taking care. Before I asset going. Know some 200 situations some do we sit Dow and it's you elect while they didn't CS Taylor getting guys was. They can be. Out of money years seven years old and it if they don't build a proper plan bully and that in this thing I was in say Tuesday's hug and how critical it is and why the show is dedicated to people that are right you know five years away are already retired. That is your peak. Amount that you've been able to say if he'll that's the crucial time I mean that that's when you have the most I mean those who hopefully can have more of course. But for most folks out there for most of our listeners you know driving in the car in the kitchen where BR right now. When your five years away or just BC retired or in that in that time frame. That's the most edgy gonna hang tough that's your peak earning years said that's your peak savings time. And if you squandered that if you make mistakes early on. Whether I mean I think that's the part that's just EEE do you do not have the time to make up into recover for any potential mistakes whether they're made on your behalf Loria because. It's a listen to some bad advice or whether you're kind of doing yourself and you know us are glad that doesn't work can be before it was working before because he had working income current might now work him when you retire in. We've been you know we obviously feel very blessed and fortunate they've had a company that's a mature business we've been doing it for thirteen years. And we have a very. Loyal client base and a demo of us and we've worked with them for many years so we're not we're not just on here trying to bring on every client that we can. Which track we're passionate noble helping Knowles. They're really looking for help. In their really looking to build. A holistic plan that isn't just say hey let's meet once a year oh by the way the markets weighed down stay the course you're good it's only your life savings Utah. You know so we're trying to we're passionate about helping those out there really want help. Make sure that you have enough money last in the rescue life makes you makes you are being efficient and in the right risk tolerance with your investments. Are you being efficient with the taxes are you ducking for strategies to minimize taxes for you into the next generation. What is your health care plan health care costs could be huge as you approach retirement. Whether it's health insurance long term care insurance even co pays a one nod going up. In finally legacy how do you enjoy your life but keep in mind the next generation. And maximize what is left for them. So folks the difference between what we can help you win is if you're looking for help. In a lot of folks a lot of other companies out there is our plan is holistic. Other people other advisors might say they can provide your planet if you ask him yeah we of course we doing complain of course we do this. It's part of our process we literally Billick you want a plan that includes income investment taxes health care MI ABC's. Obviously our customized depending on your situation. So if you're not sure where you stand if you wanna go the plan that you know are you wanna come in a fine no pay wing canary tire. Or can I retire and how much income can I drop. The next step is to pick up the phone and sit down with us for no obligation review of one of our offices in Plymouth west Borough Woburn or Hyannis. We have. 800. 2277777. Again 800 GT seven. 7777. Are you cannot also booked an appointment at SP HP financial dot com. Who we get back we're gonna dig right into the legacy piece of our retirement roadmap. In my you know how building improperly let legacy plan to help you from probate avoidance taxes as well as asset protection will be right back for the tourney keeping menace. You're listening to whereas HP financial retirement road map show. Your guide to a successful retirement the phone lines are always open at 1802277777. Minute stick around the guys will be. Right back. This is Derek red wire from SHP financial not the holidays are behind us it's time for you to consider spare and a little time for tax planning seek a stay ahead in 2017. Right now it SHP financial we're giving away a complimentary copy of our 2017 tax planning guide. Inside this guide you'll find eleven tax planning tips that may help you minimize your tax burden to an April. SHP tax tips dot com the 2017 tax planning guide includes information on inflation adjustments for 2017. Important tax updates in specific actions you can take right now. The crusher complimentary 2017 tax playing tips guide today on line SH OP tax tips dot com. At SHP financial we do more than just manage our clients' investments are customized retirement roadmap plans include income and expense planning inflation protection health care planning a state planning in of course tax planning is SHP tax tips dot com your complimentary tax guide today that's SHB tax tips dot com. If you're 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 pack from SHP financial cohost of the retirement road map radio show her right here every week it. Our team hopes people transition their finances from work to retirement. Since our focus is on retirement we're familiar with life's terms as UH and we can help you prepare for them. That's why we say expect the expect it our goals to minimize risk and develop predictable lifelong income plans to hedge what life brings it. Give us a call today at 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 and SHP financial dot com. Your team USA HP financials retirement road map show where you route to a successful retirement did you. It's called BS HP team anytime at 1802277777. Or visit them online at SHP financial does come now here's your. Our hosts a Jerry Kramer well. She's jealous silicon mentioned if you are in retirement for five years away from retirement. This show is designed for you. We're talking about a process that can be built to get you two and three time and in so many things that you should be thinking about as it pertains to getting your docs hero if you will. As you again approach retirement or your recently retired. So we're always excited to be joined by the one and only keeping menace thank you for having me here Derek appreciate it as always we appreciate time for me minister state planning. In as part of our road map process we believe is for you listening to have a successful plan. When you if you have a bunch of statements for you haven't advises that you just sit down with the once a year. In goal over a bunch of numbers and then they tell you stay the course and you'll do well over the long run. Folks that is not a plan we looked at building an income investment. Tax health care in legacy. As an overall each is an individual plan that makes up your overall plan so would you rather have. A statement they see someone once a year for an overall financial and estate plan that goes and works together. So without being said Keith what should people be thinking about. At this stage of the game let's see they're five years or less away for retirement or just retired and they haven't done a lot of planning. Right it's an excellent point Derek so that what a person needs to look at as there are approaching retirement if they haven't done and already is putting in writing. They're legacy piece they're approaching retirement they're starting to think about issues that could happen Mike potential disability. Potentially someone passing away or not being well. They need to do the planning while people are well for the maximum efficiency. But the most important part is collaborating with an estate planning attorney that also collaborates with. SHP NI SHP advisor. That's a good point is in general. A lot of folks try to do things separately solo set up their financial plan when one company. An estate plan with someone who's not top an attorney that's not talking to their financial advisor and we see so many times people come in. Any serious for the first time like I have an estate plan and I have a financial advisor over here. In a civil they find your trust food what does that what does that mean aside so the trust everything was good to go date due to a piecemeal. In other words this is all very very important topic and it can't be overstated. This state plan is going to be a set of documents. That is going to move these assets where you want them to go if you're not well or if you passed away. And it can be either very tax efficient it can't or not tax efficient if it's not done well. It can either avoid probate court system or it could require all the beneficiaries in the children to hire attorneys and go through probate litigation process when you pass away. Many people aren't aware of what they even had. In fact it to you step back and asks him we you know you and I did a video series at while back and we talked about geez four. Key areas. To setting up the proper state plan yet just go through a couple those you share and salute some listeners might not have an idea of what the benefits are exactly be a one thinks is probate avoiding. Yeah it's good to lay all this out so that people know in advance because these are things that that a listener may not have ever encountered. You know they may be you know enjoying life right now building assets. But in the future there's some things that we really wanna protect them against so here's here's four points that applied almost every person's a state plan. We wanna avoid. The probate court process if we can't make sure that assets surpassing litigation free probate free and to be honest attorney for even though I'm an estate planning attorney. You know we don't have. In the states settlement division we don't want a financial incentive for your trust based plan that avoids probate to fail we wanted to succeed so number one. Avoid probate for your assets. Number two. Address the potential Massachusetts or federal or state taxes. These are significant. Taxes that can be addressed minimized or even eliminated in some instances. It's amazing how many financial advisors don't mention the estate taxes are the capital gains tax like SH being mentioned for. You can say you can learn McMahon are talking early you can learn about you know it if you could hear him the best advisor in the world that he can Al be Al performing the market by. 1% a year and make your next to 5000 a year. If that it's here she misses the a state tax analysis. That could cost you 3400000. So far more. When you're gone absolutely it's a huge tax so avoid probate address the estate tax. The next one is to look at potential asset protection so in the event that that you pass away we wanna move assets to people and we don't want that your children are beneficiaries. Since then lose those assets to potential divorces are lawsuits or as they become injure unwell and you know maybe they need to apply for for Medicaid benefits or something you'd be ashamed to work your whole life. Accumulate assets and not put them in the proper. Develops trust based plan. You know to avoid those special circumstances. There and assume more in that last one is just to address. What we would call general circumstances that are specific to that client. And there is we wanna put in what are called predatory guideline that's a fancy way of saying we want that clients. Wish is and culture and wisdom and their values incorporated in the estate plan. That's a very important thing. I mean at this is a plan for something that's gonna unfold after the people of past we wanna make sure that if children need extra guidance then it's there if people need extra protection. It's there if there's potentially you know divorces are lawsuits or anything. Where even people engaging in I'm you know businesses that might carry a lot of liability risk people in the medical profession are people on professional services. That were protecting assets so they're not gonna be taken away. From your beneficiaries after you pass away so probate avoidance. Asset protection. Taxman a musician. This summit on that and specials are special circumstances and start you know those are just four of the key areas of having a proper state plan in place that are essential. As you think about retiring and getting close to retirement. In my guess they tease myself a man who started the company in 2003. And we always want to provide a place that folks can com. In handled their retirement. In their retirement road map in once. Bought the one of the real quick point here. Is very important for people to know that's not we're talking about trust here by and large trust is opposed to a planned Easter on a will or should wealth. Trusts are not all the same it's the most important thing that a person can understand someone who might already have a trust or might have a simplistic trust. Is not gonna accomplish these things some people think I'm gonna trust them all sat not necessarily the case it needs to be custom made that's. Good point because we all seen myself Keith in Mecca have seen out there being in you know doing this for thirteen fourteen years we've seen. Firsthand that there is quite a few trust that that have been put together for clients that have come to us to have the trust already. Not god and you just know we feel back as they try to do the right thing now we know it's not gonna hold up right. So as you are approaching retirement if your five or less years away were talking to you. Or if you're recently retired. Our retirement roll map again to recap is designed to get you Q in through retirement by building individual plans and incorporate income. Investments. Healthcare. Taxes in legacy. Each piece is its own plan but it makes up your entire retirement roadmap. In what our goal is here is to provide you one place seeking going comment you can get your whole plan built. We have you can meet with attorney me menace in one of our offices you can be with the CPA one of our offices. So we have this service is one stop shopping to provide you the full encompassing role map that you deserve. As you approach retirement. So I guess the only downside the execution every week. We have eight appointments only available for the next two to sorry three weeks my producer's yelling at me we need appointments available over the next three weeks. If you wanna coming get a complete retirement roadmap review just pick up the phone and call 802277777. We have offices in Plymouth. West Borough mover and in Hyannis again pick of the phone and call 802277777. There's no cost and no obligation 802277777. Are going to SHP financial dot com. So you wanna learn how to build a proper income plan that will last you the rest of your life stick around we're right back to discuss that. 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. 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 house with no roof at SHP financial when we Cree arc customized retirement roadmap plans for our clients managing their investments is only one part of the process we include income and expense planning inflation protection tax reduction strategies and health care in a steep 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 at SHP financial dot com. If 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 or your loved ones could be exposed to a 300000 dollar tax bill for a 400000 dollar health care bill look at is having a financial advisor if here she is only looking at your investment portfolio in ignoring other potential problems and SHP financial we do more than just manage our clients' investments are customized retirement roadmap plans include income and expense planning inflation protection tax reduction strategies health care in the state planning. If you current advisor is not talking to you about these important issues we invite you to come in for a complimentary no obligation retirement roadmap review. Get a second opinion you retire while being could depend on. Call 802277777. That's 802277777. Our request or appointment online SHP financial dot com. 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 ensured that her family would avoid having to go to probate court to get their inheritance we set up a trust supporters and 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 of the tennis 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 estate planning isn't just something we do it's the only thing we do. When you're ready to start planning for the future call McManus estate planning it 5087788855. Or visit McManus a state plan dot com. You're due to a CHB 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 dot com now here's your. Our hosts Gerri great well. She's jealous suburban discussed. The first two areas of our retirement road map which is building an income plan. In an investment plan you keep in my room we say five key areas income investment healthcare taxes legacy. All these things that you should be thinking about as your approach your retirement or in retirement. We also you wanna make you wanna realize that each area has multiple sub categories so we see income planning. It's not descending complain it's building Social Security plan it's building and inflation plan and expense analysis. A spell also plan what happens if you pass away what happens if you're married. What does your spouse have a reduction from a pension or Social Security. What's the plan for that each area has multiple sub areas in this is again we do the heavy lifting for you. It sounds like a lot of work it is we handle it for you but it's although having a proper plan as you rent your retirement in without being said. We believe here SEP financial this show is dedicated folks again that have either five years or less from retiring or recently retired. In this this segment could be the difference between success and failure in retirement in it has to do with income. It's a key thing come as we always talk about should be the foundation. Of your retirement wife. Because that's what's gonna allow you in the and that's what dictates. What you can do in your retirement years it's so important in Derrick thank you said earlier these are all things that people. Should be taught as should be thinking about no these are all things that people need to be thinking about yes they have to be thinking about these things. And having a proper income plan. In the making sure that it accounts for who we believe are three factors that can interrupt the apple cart for a lack of better way of putting it. Things such as inflation. Longevity. And you know that's spouse or reduction that you were talking about earlier. These are three things that are often overlooked when people are building their strategy revises or building. Quote unquote the income plan a quick story like to share. I declined come in have been working with him and his wife for about a year and a half now and when he first sat down on us he said look I heard you guys on the radio. And I I just want to see how you guys structure your income plan and I said okay we'll tell me how you're turning complain works. He civil my if my if I need money my advisor tells me to give McCall loosen me checked gonna say hey look. That is not any income plan that the wing and it was and as you guys can talent as we know. That advisor was just focused on one part of our five step process the investment strategy all they were doing is managing a portfolio. And saying we knew needing come. Call me that is not inning complained folks there's a lot they can go wrong there are a lot any can jeopardize. Your future. You know if you are taking income in a down market. We think that's gonna do to longevity of your portfolio. And as inflation starts to kick in that's even diminishing it more. So so important to actually have a structured income plan I think it's the most important part of retirement that's why when people come in. That's what we're focused on first. Well that's a woman take it back and ousted chief need to tell you can see the passion that we have in this area because you wanna help folks make sure they have an income plant so when you think income plan. You're working if you work right now. You're getting an income from work when you retire you're basically going on thirty potential years up unemployment. So how are you gonna meet the same income needs that you have now. When that paycheck stops in your Social Security navy pension is lessen your income needs where is that coming from Matt. What what what what I was insane to go back to Keats point Erick is that. What what's crucial funding complain to who could we we certainly tell people booked on see the importance of one. But one thing that I wanna say about what what a good planet since we know now what a good plan is it a good plan isn't like bill or able to send you money when we needed him in on the market yet exactly. Know what we're good income plan has even even leaving the investments of the side and whether it's annuities a dividend stocks whoever it is. Putting good investment had a good sir we're good income plan has is track it. Is is knowing exactly how what's coming in and exactly what's going out. In taking a look at that on an annual basis in projecting that out and the a lot of what we do is on on these are very high in spreadsheets. But that's what a good income planets. A good income plan as saying okay how much as a social security and what what's your inflation has that gone up at all. Okay daily rental income global what where's that gone OK let's let's fill that that sell that data block in. BO how much we have from pensions you know so forth and so on okay now let's look at now going to spreadsheet number two if you will. Which is okay where your expenses how much you paying for real estate taxes what's your health insurance what's your and unite making charitable and in church contribution to whatever it is. And then we sort of you know CO OK here's here's our income here's our expenses how we doing exactly and in if you're not getting that style of tracking. Of of sort of projecting out to find a worry gonna be if you're not getting them on every single review that you see what your advisor opinion then you're not getting an incomplete and. Correct and that's and that a good point that because. People if you are not seeing on paper if you are seeing these charts in their best and I'm being tracked every time you meet compared to where your accounts in your investments are and how much income you need. That need to be projected every single year going forward when you're sitting down when your advisor. In as an at the first thing you're looked as well as an income plan is Social Security everyone has all these formulas the high should take your Social Security benefits. But the reality is it depends on your investments so we sit down with a view we analyze we give you Social Security advice based on how much investments you have. When you play and when you plan on retiring in that's gonna change based on each person has customize again it's not the same for every person. So when we when we said Dallas folks the other portion of our income and investment plan that's crucial. For our clients is building lower volatility. Portfolios. We have some folks that come in. And it's our current 15% a year in I wanna do this and I politely say you know I don't lose money bellows money to have I thought they say I appreciate that. Goal it's a really good goal that every what you have. We're probably not the right fit. You know we're really and it just we sit out I guess that we're not trying to bring on at this stage of our career we doing this for 1415 years we're not trying to take on every single person. That we can our goal is to bring on really. Good people. That one about build an overall plan in that walk personal relationship with a advises apt as personal in that we know their situation. More than anyone else does and we want and they know their own financial financial situation better than they ever have once they sit down with us that's aware passion about. So again. And SHP financial we are here for the show to help folks obviously we we can help more of these people but the show is dedicated to folks. If you're five years or less from retiring or thinking about retiring or pure recently retired. This is what the show's design sports what you need to think about. If you're in high restrain now in your book to retire and you need some money. Did you need your fight you need your savings to generate income when you retire need to think second guess that strategy and really build a proper income plan. In investment plan that takes into a fact inflation. Social Security planning. Income and expense analysis. As well let's look like Keith Matt mentioned earlier we all did lower volatility. As you get close to retirement. So we have we're able to help we have eight appointments available over the next three weeks for folks who really really really. One true advice for building a proper plan looking up all the different areas of retirement not just investments but income investing healthcare legacy in taxes. If that's you pick up the phone right now and book and no obligation retirement Romero preview. We have offices in Plymouth west Borough Woburn in Hyannis and again more passion about helping those they're really wanna be helped in this area so call 800. Two Q 77777. Again 802277777. From going to SH OP financial dot com. When we get back we're gonna look at two other areas of our road map which is building a proper tax and health care plan. And how not setting this up could be huge pitfall fear retirement. You're listening to the retirement roadmap radio show your map to financial freedom brought to you by SHP financial cobra attack. 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 will be right. Back why do so many people have trusts for their families. Do I need one and what exactly can do for me well they send legally make health care and financial decisions for me if I'm not well. What does 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. Know 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 at SHP financial -- risk allies the award winning risk -- technology -- mathematically pinpoints your -- number and align your portfolio to match crystallized replaces subjective terms like conservative and aggressive with a -- number from one to 99 precise way to measure your exact comfort zone for downside risk in potential upside gains are US sixteen or 67 visit SHP financial dot com and click what's my -- number it's of 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 -- number is two day visit SHP financial dot com and click the link what's my -- number that's SHP financial dot com. Your June 2 SHV financials retirement road map show where you're route to a successful retirement again. Call BS HP team anytime at 1802277777. Or visit them online at SHP financial dot com now here's your host Gerri great. She's jealous so hopefully got some really good value on that last segment because it's really important as you build your retirement roadmap. To really understand what your income and investment plan are few just tuning and you would SHP financial dot com and go to our media. You can look at our I'd listen to our preview shows in this again the last time was a really strong one if you're approaching. Or close to retirement you can wanna listen to hot to build a proper income plan. So you're probably out there. You thinking about retiring you're thinking about all these things that you need to worry about whether it's being come how to make sure your investments are controlled for lower volatility like we talked about previously. But you also thinking about two other areas that have a huge impact. That we always consider who were sitting down with a client for someone that comes in from the radio show. In these two areas are health care planning and tax planning. And now a lot of folks listening right now so we got the thing got to think about that but it is going Medicare and everything else is taking care. Floyd is Judy Erica I think there's a lot of confusion because Social Security you can go on 62. So cement it'll say it will doesn't Medicare started 62 is well in Safire retiring at 63 M okay ams and hopper on the Medicare well and fortunately it's earned just to dispel that Medicare starts at 65. So there are for all the folks listening inning and why it's crucial to. Understand if you're approaching retirement is guilty on Xena yet yet an earlier age. So if you are under 65. You gonna need to understand the what's called cobra which is the offering from your existing into the health care option during health insurance options from your existing. Company or. Obama care which in Massachusetts it is the website MA health connector dongle work. In other words if you underneath 65. You basically have to find your own coverage either through cobra two year old work. Or through the missive that the health insurance marketplace that's available through you know through these web sites. Now when you're over 65 eagle on a Medicare. You know at that point time of the year health insurance cost will plummet because the premiums are that much less want to turn 65. Below is crucial but understanding it is that you need to know law clearly needed I hope everyone knows there rage. But but you know you need to know OK before you retire in this gonna goes back door income and expense discussion. Do you need to know what your income your health care options are what the cost is going to be what the cost is going to go to when you're 65. And make sure that has budgeted ends because a health care costs are going to be a huge. Part of your expenses and yet you're never gonna lift. Any get a lot of firms and there's a lot of really good advisory firms up there so when I say you have to come to us a lot of folks out there don't like to talk about. Like there's no the best may put this is is no money for the advise him and talking to a Medicare exactly plus it's part of a process is part of people as your approach retirement you have to consider it that's why we put into our process bully. He's he's Seaman who talk the most Social Security is just loses yet and Leo we we don't get paid for or and you know we don't you davis' security administration to discuss all their options but. Providing that knowledge providing that value I just love talking about that because they will we charge fees to to do we do and and we can pay commissions on some of the on insurance programs that we work with. So we're afraid. But I'll make sure that we're providing every ounce of value above and be all lines it was lower Ashley and. It's a funny now a lot of times we do from a cost analysis. Mom I'd say nine times at a time we're probably. Less expensive yet I don't know that the sun exact figure but my destiny nines and September less expensive but even if the price was the same if you gonna have an advisor. Why not get the most value of prominent by a car for 20000 I want one that has the power steering the heated seats though convertible the leather whatever Ali sings they have you know now they have a drag yourself cars and sheriff but. My point is if you can get the same for the same cost to less if you can get all this die you. That's more passion about and so Keith and you can expand on part of our health care plan it's not it's Medicare is part of it Medicare supplement getting people ready. Having a plan what's another big call on the health care pool. And one of the things that Medicare doesn't cover as we all know is that those three lovely words long term care that people love love love love in Arizona it's a test it was exciting topic it is a sad time opera folks have had to deal with it and CME members in absolutely and that's really when it starts to hit home for people that this is truly something that they need to look at and need to start to address. The hard part is you know the insurance market is becoming so small and so expensive and so hard to qualify for. Do you really need to think outside the box so. Our job as advisors is she make sure. Won the match said. Do correctly positioned with Medicare they Medicare supplements. Making sure that they're good to go there. Then taking a look at that next step which is long term care and we're not talking about long term care insurance or maybe we are the client wants to purchase it. Who really what we're really talking about is saying okay. How can we cover this and how police think outside the box. To make sure that is something happens to mr. or mrs. G owns. There's something there that they can rely on this predictable. That is there for them to cover. A portion or all of their long term care expenses. You can do so without necessarily purchasing long term care insurance you had any idea you can hit and been part of our planning process. Some of the vehicles we use for income also have long term care benefits. I had a woman that just came in their sixties and she wanted to maximize. Well to the next generation. In meat attacks tree. But she also wanted the ability to draw on it for long term care Salisbury the details but this programs out there we compose a little bit of money aside or some money aside. In how let's say in this case it was 500000 dollars. She didn't put that aside but that was what was left in this pot of money. If she never needs it she can use it for her the next generate thinking can receive it tax free again maximizing taxes in legacy there. But if she needs it for a long term care she can take that 500000 dollars or portion of it now while she's alive so to going to the next generation. Boards helping her if she needs long term care in protecting. The rest of her assets in so that right there is another way. As part of our healthcare. Legacy in tax portion of our process is a little bit of each set to help us just by he's now one type of. Tool Lou that's it was a say Derrick immune system that diagnosis of different churned products that are available I love that BE it's it's symbolic of everything we're doing because because he dissident the end is the fact that okay because all these five areas are part of our process he'll be using come planning investment planning tax legacy health care. Because we're constantly looking at everyone's situation on all those five areas. We're also looking at all the different strategies that are available all the different solutions that are available with those same with the same eyes and we see what is second. This guy does some legacy does some tax help and some health care health. All I have to tell my clients about this threat that is affordable and predictable that's the most part is like. If you buy a long term care insurance policy guess what three is down the redeemer here in knocking your door so to say. In get a letter in the mail says hey look we're gonna increase your previous when he 5% that is it not the letter that I owning jets we wanna creep predictability because we know. When you retire you're on a fixed income. In this show we've talked about how it for folks that are 535 years or less to retiring or if you're recently retired. We talked about building the proper income plan how to safely building come the tunnel last the rest your life when inflation for you in your spouse we talked about investment planning. Low volatility as your retirement. We had a turning a menace talking about legacy planning and how to maximize how to build the proper state plan and tied together with your financial plan. In this segment we talked about healthcare and taxes. So again if you wanna keep on doing what you're doing and having disinvestment plans and papers and you with a person once a year. That's fine but we're passionate about bringing a whole listing planned to you looking at income investment health care legacy in taxes. As part of our retirement roadmap so we have eight appointments available so caller right now we have people they can talk to right now to book no obligation consultation. And one of our offices in Plymouth west Borough Woburn Hyannis. Call 802277777. For this complete retiring roadmap review. 800 UQ 77777. Or go to SH OP financial dot com. After the break three key important takeaways. As part of our retirement roadmap recap you're listening to the retirement pro America radio show your map to financial freedom brought to you by SHP financial Padraic. 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. Today's retirees are faced with many fears and challenges. When I outlived my savings will my medical expenses be too high. My money's in stocks what will happen to me if we have another market crash when as a retiree of pre retiree from. If you're asking yourself these same questions and fear or not. This is Matthew pack certified financial planner and host of the retirement road map radio show heard right here on this stage in each week. My partners and I'd SHP financial had just published a new book. The SH OP retirement roadmap. In this book we showed you how to create comprehensive retirement plan that focuses on five critical areas of your financial life. Income investments. Taxes health care and estate planning. Right now you can download the first chapter of our book for free so grab a pen and visit retirement road map book dot com. That's retirement road map book dot com for your free book chapter retirement road map book. Dot com. This is Derek Greg are from SHP financial now that the holidays are behind us it's time for you to consider spare a little time for tax planning seek a stay ahead in 2017. Right now it SHP financial we're giving away a complimentary copy of our 2017 tax planning guide. Inside this guide you'll find eleven tax planning tips that may help you minimize your tax burden to an April 2. 2017 tax planning guide includes information on inflation adjustments for 2017. Important tax updates in specific actions you can take right now. We crusher complimentary 2017 tax playing tips guide today on line SH OP tax tips dot com. At SHP financial we do more than just manage our clients' investments are customized retirement roadmap plans include income and expense planning inflation protection health care planning estate planning in of course tax planning is SHP tax tips dot com here complimentary tax guide today that's SHB tax tips dot com. Your team USA HP financials retirement road map show where you route to a successful retirement again. Call BS HP team anytime at 1802277777. Or visit them online at SHB financial does come now here's your host Gerri great. Jealous of this show is dedicated again the folks at five years or less from retirement or already retired. It was a lot of good nuggets in the show up believe me folks if you just tuning in. You gonna wanna go back to SHP financial dot com go to our media set go to media and listen to this past show. About all you know maximizing you in building a retirement road maps so there's one threat out there to think there's a lot of good information for you. To help you on today's show. Says part of our retirement roadmap recap we have three key takeaways you wanna leave you with so mad men star would you. I things like guys I wanna go back to our incoming investments segment. There are three words and use my clients I say. You need a plan income and investment plan that you're able to to deceive visually you don't have on paper so you can allocate. Mina where where where my investing his assets fixed gross we know different things like that. Track so one track everything known to find out how might do and how might do in regards to in my projected expenses are how my doing in regards my projected return is. And then lastly I want to tests we talked about disposal income and what happens if the husband passed that's what happens if the wife passes what does that do. So every good income and investment plan. Should be able to be sort of simplified into a lead a large spreadsheet that says how allocated satellite tracking it had a might test it. If you don't have that then you truly don't have a plan and in my opinion it. Inning commission is probably the foundation for should be the foundation of your retirement you can be thirty years of unemployment when you retire. Keith how do you lose money guesses what I wanna say is. Typically most youth attribute losing money to the market but. When we're doing our planning process we believe this to other ways you could lose money if you don't have a full plan in place. Year your exposure is unlimited in the first one is. Long term care. Not necessarily just going home buying insurance health care in general. It's a huge expense. And in the second one is the IRS. You really need to minimize the amount attacks your pain have strategies. That go along with. That they have to go along with your plan. You go ahead and minimize the tax implications both TU your spouse in the next generation. Yeah really give points for both of you and again we're so passionate about again building a full plan. And we're so agreement passion if we want even help we myself keep him out we just came back smelly and a we actually went in front of a group of a few hundred top advisors across the country. To help them what this process so they can provide more value in pay adapt to their clients and help just help more people that's are trying to deal. We can't help cover one we only have eight employment available over the next three weeks. But again the people who are listening that wanna come sit down with us this is the best way I can relate it. You have worked your entire life whether it's getting up early on a snowy day. Driving through traffic may be missing a children's baseball game or basketball game could you have to work to provide for your family. And now you're getting to that point where you're either in retirement or your couple years away. In are you positive. All that work you've done pretty positive that you've built in have you given yourself the best chance of success by building a full plan. If you have statements he just he within advisor once a year are you'll have an advisor. Folks it's time to take this seriously you're getting close to retirement and again a full plan looks set income or investments taxes health care and like to see. Not just investments. So if you want our help we only have to eat appointments over the next three weeks he has to pick of the fall right now on call 802 Q 77777. Offer your complete retirement road map reviewing try to get you on course as you approach retirement. Again 802277777. We have offices in Plymouth. West Borough will burn in Hyannis 802277777. Or go to SHP financial dot com. Thank you so much folks and have a great rescue weekend we'll talk to you next week right here and the retirement or America radio show brought to you by SEP financial what do. You imagine when you thought about retirement. Was spending time with family traveling more doing volunteer work or pursuing a lifelong passion that you can never find time for. My guess is that you did not imagine sitting in front of the screen watching the stock market move up and down. Wary about the impact on your retirement. I met you back from a sixty financial since 2003 we've been helping people live their lives they've imagined. With the right Alec case and an income strategies we worked tirelessly so that you were spending less time in front of the screen. And more time with family or abroad are doing the things that you've always want to do. Where you had it if you're concerned that your plan is leaning towards that screen and not where you wanna go. Pick up the phone for a financial review with the partners and SH OP financial. There's no cost no obligation. So call 802277777. That number again is 802277777. We can always reach us online at SHP financial dot com you know. How much risk is in your portfolio hi this is Keith Ellis co-founder of SHP financial in times of market volatility it's even more important to have the correct amount of risking your investments and SHP financial -- risk allies the award winning risk engineered technology and mathematically pinpoints your -- number and -- your portfolio to match crystallized replaces subjective terms like conservative and aggressive with a -- number from one to 99 precise way to measure your exact comfort zone for downside risk in potential upside gains are US sixteen or 67 visit SHP financial dot com and click 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 -- number is two day visit SHP financial dot com and click the link what's my -- number that's SHP financial dot com. This is there are Greg are from SHP financial not the holidays are behind us it's time for you to consider staring a little time for tax planning seek a stay ahead in 2017. Right now it SHP financial we're giving away a complimentary copy of our 2017 tax planning guide inside this guy you'll find eleven tax planning tips that may help you minimize your tax burden in April 2. SHP tax tips dot com the 2017 tax planning guide includes information on inflation adjustments for 2017. Important tax updates in specific actions you can take right now. We crusher complimentary 2017 tax playing tips guide today on line SH OP tax tips dot com. At SHP financial we do more than just manage our clients' investments are customize retirement roadmap plans include income and expense planning inflation protection health care planning a state planning in of course tax planning is SHP tax tips dot com here complimentary tax guide today that's SHP tax tips dot com.