Feb 12, 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 everybody to another edition of the retirement room every year show brought to you by SE HP financial. I'm your host Keith Ellison joined here by Matthew Pak till gonna talk all things taxes. Obviously with tax season coming up we will spend some time digging into some strategy some ideas. Some pitfalls potentially. In really spend some time on tax is a seems to be on the top of most people's minds out there are getting emails over the weekend all the time hey give an account nor do you have a person that you work with two OK I have this question as it pertains to my retirement. This question. You know how to how to deal would this tax situation so we really want wanna spend some time digging in on that and around. I'm joined here by a my partner Matthew pack now hate you and I'm doing great and you're doing great job too well obviously we we are not joined by Derek today he is that he is a way that in knowing is out of the office today so he's doing great job but we just said his picture up is true is joining his microphone in his presence doesn't deserve all they're really still doing the radio yes it's that thumb. We're a week away hello out of what happens. Last Sunday so. Thoughts it is say it is tough not to go back to that victory and at LA times you watched it my religiously stereo for. And I think news outlet but. I'd also truly enjoyed and basically tell my kids about it you know for and the mild this this is as driven off what it just is just more the idea of the persistence of that is to say look hey you know and Nathaniel needs to know man my oldest now in assailant looked. It's all up resistance mean there were down twenty to three and those of your in Iraq by the way were talking about the New England Patriots commandments aren't completely is a wonderful prayed to. But based it just gives an idea that they are down 28 to three and they never gave up and I really I enjoyed. Really the conveying that message to to my son and an end to the mall in my in my favor olden everyone else younger you know I was it is really get it. But certainly my son got it and it was. I just love to be part of that local early part of that took a comeback story of love to be stand in the end just. You know really gives you who is it's a great life lesson honestly to two to take Canada. Yeah it's funny I was approved for my kids to bed at halftime yes elusive to have time to Vietnam. Obviously still on around my house that was so mad because there are kin killed. And you like come on now you know this is embarrassment they have no chance on the that's a Kosier mind but then obviously you know. Who's the quarterback of the team who's the coach of the team in the team that they are. It's funny to attack my three year old man and he DOT Meehan thinking you know like oh we've downing us. I. So I think that I does is he is not a trade to new hood it is pretty could use. Co patriots another guard but yeah. Awesome that that. So flip houses it's a Melo did do because it was early talking about taxes and you know really in and you were you were saying earlier about. The fact that you know this is the time the season and we do want to talk about on the radio tour has. All the different clients are starting to to email us questions and you know and who who are CPAs are things like that. But I can want to attitude together because you know and we do see a lot but he did there is symbolism to in the fact that you do need a full team around you. Nearly in and you do need to have AA a full comprehensive plan. So for example you know Belichick always talks about the three phases of the game you're talks on C offense defense special teams. But you know it's similar idea when it comes to financial planning where. You need to have in your tax planning a new win with your income clan you're your investment plan healthcare legacy. You need to have all of those bases covered or or incomplete. And that's just it you know are planning process that is c.'s chief financial. It's called the retirement road map and that's really what if folks on the focus on building a strong income plan you know. Our philosophies you cannot retire there is no retirement if you don't have income if you don't have money coming in to pay the bills to take the trips to. Do you what it is the U wanna do. Each and every day month and year during retirement. Armed unit you're not really retired he can't retire you can't retire with confidence so the first thing we do is we setup meaning comes strategy yearning component. Do we want that income plan. To account for longevity. We want any complained to account for inflation. And we wanna take into account to the income plan from you know what happens is something up as the husband what happens if something happened so wife. How does that look going forward for the spot assist left behind. Once we have dean complained developed in the strategy we're gonna use to them. Give you your monthly checks we then take a look at your investment strategy to make sure. That your risk is aligned correctly that you're not paying any unnecessary fees. Make sure the volatility in your portfolio. You can withstand the volatility. Going forward that the Marquis Cooper could interject in your portfolio. Once those two things are built here a minute there restart take a look at different tax strategies we used to minimize or eliminate taxes altogether. Take a look at everything from health care standpoint things such as the transition from traditional health care to Medicare which is a huge transition for a lot of our clients. Lot of questions. Out there on what that looks like in the proper health care to together proper coverage to get in as well as long term care. In the final pieces. How he put this altogether. To make sure it passes efficiently. From a tax standpoint and from a time standpoint. To the next generation so that's our process that's who we look at on it takes time to do. But it's something that you know each one of our clients has gone through and they feel confident now. Going into retirement knowing that they have off. Full holistic. Plan don't throw them play houses say to I love the I love being able to give you know advice and counsel all different areas CEOs of resembling noon today it will clearly be done my taxes and in. You know any it is that time a year again so making sure that. For example people get there are your contributions in for 2016. Whether it's ended their Roth contributions of their hiring contributions CO sep fiery simple liar is things like that. But also stings a voting don't come in knowing the deductibility of things. You know for example and for myself you know reasoning but aid knows and new car slash used staffers it's it's new to me there as they say. But but the thought was okay rather than doing a Carlo Nero rather than doing your traditional auto loan. If you do home equity line of credit you know if you do he'll block well he locked his tax deductible. You know that interest taxes are terrible on the you know four year for your taxes and for your itemized and in long form. So is this an example of you know what when and go to sit down Kleinsasser OK hate this this is tape I might give to improve the situation here. You know suck and change your life dramatically defied if I improve the situation here in here and here in here. Then you are much better position them when I first match you. So William whether it's as simple as the using he'll locked to to get. The interest rate deduction you know for any temple loans or whether it's bigger things such as making sure you get your contributions and this is the tip of the advice innocent at the council that I'm proud to give in and I hope all of our listeners again it. Sure in. You know this is even more important as we see the presidential. You know after the presidential election the potential shift. In different tax situations different tax bracket you know what are some of the things people should be looking for what did you literally talking about getting rid of the AMT which is gluten which is the Alternative Minimum Tax. Undated there's talk of corporate tax reform. Com as well as sort of lowering some of the individual. Taxes so there's a lot of the table right now which is which is CL firfer wonks and geeks like us we really enjoy. The did you get the idea that there's a lot going on in India should be sitting down people to see how it affects you. So if you like to sit down with that would someone that does this holistic plan and it looks at everything from income investment taxes health care legacy we have five appointments. Set aside over the next four weeks for radio listeners all you have to do is pick up the phone call 802277777. We have offices in west Borough Woburn Hyannis in Plymouth don't we folks pick up the phone. 802277777. Or again SE HP financial dot com. We have five appointments over the next four weeks again 802277777. Or SHP financial dot com. Coming up after the break we're gonna sit down with Keith McManus to talk all things legal later on in the program we'll be talking about backdoor diaries. 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. This is Derek reservoir 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 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 burdens 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. The crush or complimentary 2017 tax planning tips sky 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 when your. Building a home and 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 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 plan. If your current advisor is not talking to you about these important issues we invite you to come in for complementary and no obligation retirement roadmap review get a second opinion your retirement and well being could depend on call 802277777. That's 802277777. Or request your appointment online and it SHP financial dot com. Your June 2 SHB financials retirement road map show where you're route to a successful retirement again. Call BS HB team anytime at 1802277777. Or visit them online at SHB financial does come now here's your host Gerri great. She's jealous of the show's gonna continue to be all about taxes if you wanna pay more you know month to month year to year in taxes. Then you can change channel who listens to music but they most of us. Did don't want to paying more taxes I suggest she listened to we're going to be talking about some tax saving tips going forward into this show great now we're gonna play a previously recorded interview with did my partner Derek Craig wire. It how to save on the Massachusetts a state tax. Right now we're joined by attorney Keith Gimenez humour going to be talking about. The wonderful area of a state tax holiday is wonderful Derek thanks for having me here I guess the day I bet you see. And basically there's no way we wanted to do we wanna kind of position is it is. A lot of folks out there they come to workshop. If we you know we don't do it time we do what 56 workshops here we are let's get this question you know they say you know I'm not I'm not worried about estate tax because. Until my husband and I hit 1011 million dollars there's no taxes do and unfortunately we have to say while. If you live in Massachusetts that might not be the case that's absolutely right Derek so I'm a little bit of history if I could procession ends so in Massachusetts. In 2003. The Massachusetts. Legislature in the department of revenue we. Phase UA saying that we created our own state based estate tax the estate tax is also known as a death tax porn inheritance tax bordering on a college. The department of revenue in Massachusetts is very interest to do now. If your net the states is in excess of a million dollars. And videos then there is a Massachusetts a state tax that may be assessed. OK so basically once you get a million and that can be property. Accounts 401 k.s my concerns. And that goes pretty quick it does and you know one of them that you mention life insurance is probably one of the biggest potential risks of fat people go to just a random person is set up life insurance they don't go to work financial advisor like SH do you understand the tax ramifications of it. Sometimes it erroneously told that life insurance is just completely tax free no matter what. Not necessarily the case that death benefit of the life insurance policy. It's typically included. In a person's net the stage unless you own it in a certain way Whitney and I think to a certain drug Derek doesn't say keep demean the attorney key to Venice. Is the idea that there's confusion too because they decent life insurance is also beat since the voice probate. This OK all of its avoiding probate even if it's income tax furry must be in the clear here so it's business as some confusion there there really is mad and and you know you don't want to just drop your guard because. Although life insurance is it is a fantastic asset class to have. It really should be purchased or at least reviewed through SH piece of that you can see what what's they would affect is this death benefit can I have. And overall the state tax obligation. You can have people that really don't have a lot don't have very sizable estate. When you and the death benefit of the life insurance suddenly it has stayed balloons into the territory where the whole darn things getting taxed now be. Massachusetts a state tax goes up to 16%. Of all of it. That's a progressive tax so you really need to calculate what is the estate tax exposure. And as you correctly pointed out I'm mad and Derek you want to make sure to take a close look at certain asset classes relieve the whole portfolio reviewed. With a special eye toward how is that life insurance own time we'll keep you if you go back up a little bit and just sort of walk us now listeners through debt so let's let's just say for example people have not done planning. Then they do own mode over a million dollars solar so how is that working mentions a progressive tax owes it. As you're seeing is a dollar over again you know how does that work he has so there's a formula that you can find it sexy if you could find it right in the Massachusetts department of revenue website but in general parlance the best way to describe it to someone. And thumbnail sketch is that if the nets the state is an excess of a million dollars they're going to be taxing the entire state but differently. It doesn't exclude any particular amount like the federal state tax a when Derek you started off by saying the federal state tax it's a much different kind of tax they. In 2016. The federal or state tax essentially ignore the first five point 45. Million dollars of in a state that Massachusetts is not on that same calculus at all completely different formula. You go past a million dollars they don't like to dollar one year they're not presenting a darn thing so calm now there's some nuances to how exactly that's calculated but. The easiest way to understand it just in common parlance is to say that. If you net estate is over a million dollars you looking at a potential significant Massachusetts a state tax. Oh yeah and in I think. We always talk about myself Keith Ellison man attack we always talk as we're sitting with clients I had someone I came in last week. They were just talking remote basic John thank you know what weed out when I millionaires were just kind of basic people we worked hard. And I said you know Joan Murray yes you guys have have. But 740000. Dollars in retirement accounts yes 50000 in the bank. Your properties worth 500000. In your 300000 my concern yes it and you don't feel like Daniel you know you don't take a million ever you you aren't a lot of our listeners. Our and that same boat through and I think I see in thin man are talking about this this morning. He's Jim a lot of folks out there. That are listening to our show right now in they think they have. A plan because they have a broker. That they bought stocks bonds mutual funds through right now we just talked among districts for years. They still my broker and and and you talking you know with a star client last week personal and I was moving over us and he says how. Torturing come plan. It is amazing just because it was it was we knew we we see it every week we say but how the Sony people that have portfolios they don't have plans and Edison OK I again how letting come conversation go only so many money I just called he's like oh not good and I'm not a plan you know one of the most surprising things I've seen he can't in my twentieth year of law practice now it's the number of people. They have financial advisors they don't talk about. A state tax is a probate avoidance and they just pick stocks or whatever they think so it doesn't make any sense because you could the back end of these and in a federal estate tax is a 40% rate 40% these Massachusetts goes up to 16%. Capital gains tax 23 point 8% plus the state amount these are big numbers that you need to get ahead of and we can absolutely address them. Reduce or eliminate them in some circumstances. In we want to make sure that we do that. ASAP deck his assets are owning correctly then they can be taxed when despite setting them up and up in the proper vehicle according to the proper place. You can avoid or minimize taxi significantly yeah and some people think they'll all I needed was just throw it in any old trust. You know and very very important piece of information not all trusts of the same most chests don't address this properly or if they address it at all. But to have a trust with the right tax formulas and and that's current up to date custom built for your family that's worth its weight in gold. And so I SH chief financial and along with a turning me menace for offering. For you in Europe they're sitting what's the next step how to write what do I do you how to I kind of get this the analyzed because you might have. The best portfolio manager of all time but again if he's if that here she is missing. A state tax reduced reductions in income tax reductions. Not do not building a full being complain investment tax health care legacy plan if you're paying money whether it's within funds mutual funds are to a manager. It only getting investment advice one I work with some and our team that can do. All of that everything together under one roof and so and a city financial welcome you come in for a complete retirement roadmap review. Which includes an escape plan analysis from attorney keeping me this and his team. Pick up the floor now and call 80227. 7777. Again 802277777. Or go to SP HP financial dot com. All right this is Keith Ellis with a chp financial and you were just listening to a previously recorded interview with Keith make business of McManus a state planning coming up we're gonna continue on the topic of tax planning and tax savings when I talk about a little known strategy that you don't hear too much about it's called back door Roth IRAs you're gonna wanna stay tuned. More on that coming up next. He'll listen to their retirement roadmap radio show brought you diocese. Taking YouTube and through retirements. 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 right. 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 Renoir from SHP financial. Our strategies as a retirement planning firm. Are designed to minimize risk in your changing world. And develop predictable income planes our team works with families to help them take on the unexpected things in life. That shouldn't be all that unexpected. SHP financial we can't predict the future but we can give you a pretty good idea of what you might expect in your retirement. Call us today at 802. Q 77777. For a complete retirement roadmap preview. It will help you prepare for the retirement that you expect that 800. Two Q 77777802. Q 77777. Or visit us some line at SHP financial dot com. Why do so many people have trusts for their families. Do I need one and what exactly can do for me how will 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 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 comic menace estate planning it 5087788855. Or visit McManus estate plan 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 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 acute. Give us a call today to 802277777. For Thai army road map review. And we'll be prepared for the retirement that you expect and deserve. Call 802277777. That's 802277777. Or visit us online at SHP financial dot com. Georgie do SHB financials retirement road map show where your route to his successful retirement again. It's called BS HB team anytime at 1802277777. Or visit them online at SHB financial Don come now here's your host Gerri great. She's jealous fell gonna talk about a strategy that can potentially help you lower your taxes going into your retirement years. It's a strategy might have heard a little bit about let's call the back door IRA it's becoming more and more prevalent. Especially for higher net worth individuals so. I want to bring Matt into the conversation to have him discussed what it is what a back door. I areas the benefits and some of the strategy around it all right Keith thanks so much shows looking forward to. To sort of tell you about this mean because. It's it's still available. Soul so to to go back to the very beginning of the very basics. Be Roth IRA or diary in general is the big difference between a Roth IRA in a traditional IRA. Is whether or not you can deduct what do you put into it. So for example if you put 5000 dollars and to a traditional IRA and you deduct that you you deduct that contribution this year you pay less taxes because you earn less because you know let's say year income 200000 dollars. You put 5000 dollars into a traditional IRA. You only pay tax on ninety's I filling you BC take off of the off of your income. Now to do Roth IRA in need in seems an example you earn a 100000 dollars and you contribute 5000. You don't write off attack he eagle right off said the 5000 dollar contribution to a Roth. And so so here is that different so it retirees deductible and Barack diaries non deductible but he's always the benefit of Iraq does basis of many years later. Higher res Tricia liar raise all pretax dollars for which means that when you withdraw our it its a 100% taxable at depth points. Whereas a Roth. Whenever you take money out it's tax free forever. Imagine Nike tax free heck I can say tax free unit comes Iran dire and it's tax free is the best you know did those the two best words in my opinion. -- for retirees or anyone looking to driving come off their assets and -- that's the benefit of the Ross Fisher immediately can just imagine that is akin anytime I anytime I talk about IRA money or 401 k.s will with clients had to say well OK let me take this number let me take at least you know 20% off of it right you know mean debt that number's not theirs because Uncle Sam owns at least 20% if not more. Of that IRA or are 401K dollars so it's the old question right. Tax the Seton for the money that goes in for the harvest the money then it grew to rate as a little switch when do you want. Or which one you know is a better strategy and I think a lot of it has to do with. You know what we're talking local afford on this back to a Roth IRA conversation as well as how much money because a lot that goes into that. Into that question or the answer to that question is exactly says this of the basics as a said Nino is okay he is is a deductible or not right. So what but what happens unfortunately for Roth IRAs you could not contribute to a Roth IRA if you earn over a 180000 dollars as a couple. The soul is so let's just say your high eight income earner. In the Stanley in the household earning over 200000 dollars switch in the northeast is innings you know isn't too. You know out of the ordinary. You can't contribute to a rough. Isn't there also with the fees though period for traditional diary where it's almost not worth doing your arraignment or blood vessel on the same lines because. So why are race. Have a have a limit where if you contribute to it you know it's deductible but asked at a certain points you can no longer deduct. What do you contribute into an IRA group. And so what people are doing that to the back door irate and a little bit Neil complex but the fact or IRA concept desist you do traditional IRA. You don't write off what you put in which basically in fact makes a name in Graf and you know sort of the de facto. And then you do what's called a Roth conversion. So it's it's really kind of a tough to explain in the short time that we have the long story short is that people that are high income earners. Can't take advantage of Roth IRAs through this back to war. Well that's a that's a great tax strategy in isn't there a time period where you can re characterize. If it doesn't work out for you meaning. You've done this whole strategy. You realize the numbers don't work go from a tax standpoint you can actually undo it you walk it back correct credit. It's that term re characterize it mean. That that's the good part two delve a listener should know is that. You know if you if you sort of make contributions into an IRA and you didn't want to or you made a Roth contribution indeed did in Indy shouldn't have. You can always he characterized UT Teva contributions. But Madrid to go that's the point of the back to a Roth IRA I mean again is just this is the way for high income earners that thought they were phased out. As you said step warned you contribute to a traditional IRA. But you do not to dock to what you put then. And then step two is that after a certain amount and timing in this or disagreements as to whether you can do it immediately when the issue weighty year and different things like that you know and slot who is a it is a master of Paula to different at the tax planning who who we look to. For for guidance in the Tampa area. He's he's more about a year type of planning wise but you put it and you do not deduct it and then you re characterize her or you you. Converted into a Roth and then literally again regardless of your income regardless of how high you are. You can create Roth tirade dollars due this backdoor mechanism. At least for the time being is as of the year 2017. You can take advantage of the no known. And insane in regards to the loophole closings would be you know thoughts and it will Woolsey name with the of the there are talks about and you know the individual tax breaks but but they they've been talking or are targeting more on the capital gains that are things you know and trying to locate tax less and capital gains people are investing more you know the the putting more into the market in. In ideally getting more of that that capital working also bringing money back for more season repatriation is kind of a big word right now. Armed. Which could also infuse some more capital both into the United States for building things like got decent you know what quick example happily so much money overseas. They bring them money in the could be special dividends buybacks they could. You know reinvest in America reinvest in jobs or. Puts more money to work full and into the district Keith I mean the the tax code and that the system itself is made to increase to incentivize people in certain ways so. And you know are we incentivizing home ownership that head up we are especially because of the Adam what is she exactly. You know are we incentivizing. No retirement savings in again back to Iraq diaries traditional or Roth or traditional IRA Hayes for a three b.s contributions deductible you know matching all that kind of fun stuff in and goes back to a -- same bubble but the repatriation of dollars in what what do we how are we incentivizing our corporations. To to spend money in and we're earn it knew where disorder you know classify it. So I pointed out only because everyone needs to know how the system works so that you can work it on for your benefit. Does that make sense oh definitely definitely in that you know one of the mean things we focus on SHP financial is making sure that we do have a tax strategy. You know where the 510 years so from retirement decent things you need to be looking at as you build your income plan as you build your investment strategy. Because there's different ways. To maximize or minimize depending on how you look at and it. He maximize your tax free dollars or tax deferred dollars minimize the taxes currently paying or the pain or there or the taxes you're going to pay. In retirement having a proper income strategy the balances. What you need. As well as arm what you need front you know and an attack standpoint or. Can we create some tax free dollars so again we have five appointments over the next four weeks just pick up the phone call 800. QQ 77777. Again 802277777. Or visit us at SHP financial dot com don't wait folks these tax questions these tax strategies. Are things he should have in place. 23457. To ten years so these are things you need to start looking at ways to maximize. You know the tax strategy keep more money in your pocket in one of the things we talked about the back door I Ares just one strategy so again. 802277777. Or SHP financial dot com. Coming up after the break we missed to have the marker report would mess Deepak we're gonna talk about IPOs. You're listening to as HP financial retirement road map show your guide to a successful retirement. The phone lines are always open at 1802277777. And stick around the guys we'll be right. Back my dad planned ahead so his assets were transferred after he passed just the way he wanted to I gave power returning to my daughter. In now I know that someone I trust will be making decisions when I can't. The play and we created 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 keep McManus the tennis estate planning we're committed to safeguarding your assets for your family's well being. We'll take you through our dedicated processing can feel secure about the future. The most important thing is to prepare complete and detailed the state plan specifically for you. Because the state planning isn't just something we do it's the only thing we do. When you're ready to start planning for the future comic menace estate planning it 5087788855. Or visit McManus a state plan dot com. For over a decade in this HP financial is help the people of New England lived more secure comfortable lives spent providing safe for more complete retirement plan to call us HP today at 802277777. That's 80227777. Seven this is Derek 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 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 burnt 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. The crush or complimentary 2017 tax planning 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 SH OP tax tips dot com here complimentary tax guide today that's SHP tax tips 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 market the economy and your investments starting memo. So far on the show talked about the amazing victory about a New England Patriots last week what do you know. Still what a game can't believe it and then we also talked about the strategy called back door IRA so now we bring in Matthew packed for our weekly marker report and now this week we're gonna talk about IP OC you know I know last year we had to Julio acacia those are two huge names in the IPO market in the U. When they first came out of the box became okaying busters but since have pulled back quite a bit fallen flat so. We will talk about what's in store may be for 2017. Maybe some companies that will. Have their IPO to be able to maybe he media some of our clients are some of the people out there might look to buy some stock in some of these companies. No it absolutely in ends could just go back his mention about any candidate said the IPO stands for which is initial public offering but live from Carla says it it's been an IPO or initial public offering is when a private company goes public. So so when they you know lately the FaceBook so the world or Google or Amazon you know for years when when a company begins and starts out obviously it's private. In at a certain point time it reaches as low level of success when they say okay we're sectors sell shares. And he'll be listed on exchange like the Dow Jones or you don't and New York Stock Exchange or at NASDAQ things long those slots. And it into big deal because I mean most the most of these companies that did we know better than that. Initiate an IPO are coming at you heard about you know so blue so to doesn't seventeen to talk about keynote air being beat into remote over. It's a much snapped chat you know companies that deal. If our listeners haven't heard of them I recommend they asked her kids some of the guys who way since then China can't do that this unsafe and they had a few seconds hey it's my on the limit cat or hey smile and the client okay. Make no I don't wanna smile India at ten I want to not do that citizen here this is a so that company which he was so is everyone loves it generates buzz they say OK you can own a portion of that company. It's it was an interesting. It's enters in sort of process because initially what happens is that data staff travel go to sort of investment bank. In their job is to price of what the value of the shares are solicit okay well I think sap Chad is worth twenty dollars a share thirty goals who share. It is really difficult because you know it's again as this is more art than science. Think what item would Woodley kind of basing in on it in the base our revenues in numbers and things along those lines. But the second step which is which is most important for all of our listeners is that. The first soda shop that to institutional investors. So the first shopped it to these beyond billion a millionaire. You know funds to say hey did you guys wanna buy this and if you do want viable would you pay for. So that eventually when he gets under retail investors. Okay we'll big party kind of Parse through and they've already been surprised stout so. You know at the at a time bashing gets to a retail guy. Especially if if institutional. Jay Leno institutional money managers have passed passed. You need to be very careful and cautious about whether or not you wanna get caught up all the buzz. Because. Generally there is a very good chance that that the street or Wall Street in general may have pasts and for good reason. Mean and as soon I mean I do. So I mean I just I think you know IPOs are very exciting and it's you know. And certainly it did this at certain times has worked out very very well mean FaceBook obviously Ernie in the and you know Google Amazon mean Dave. They did their AP IPOs in the hit right. Yes they did their there IPOs and and their their fantastic right now in the into doesn't seventeen is going to be a big year where against Knapp who over here being be Spotify. These are all these these are all rumored to go public over the next couple months a next twelve months so. It's just you bears watching to find out OK EE ERV is Wall Street invested doors Wall Street interested in these particular firms. If they are are right there might lead you toward Encino and. Two is it owning it but at the same time if they're passing. On these company's CEO also might want to as well. Guess is is really good strong information that we put or every Sunday morning every Sunday morning we send. An email blast to all the people that subscribe. To our weekly newsletter so. You'd like to get on the weekly newsletter where we talk about all things marketer everything market related just ideas or strategies. Or just overall concepts arm. Just go to the website SHP financial dot com on the right hand side is newsletter sign up and we're gonna send you this every week. You know and now you get some great great information again. Just think of oh we talked about you know the IPO market for 2017. How an IPO comes to be it's important information to know. Because if you have interest in a particular company say snap chatter in her being the your Spotify. You know maybe use those companies. Human interest in investing in them will not just gave you the procedure on how you know they come to be public. Whether Wall Street you know likes them nor Alex doesn't like them those types of things are extremely important to know before you put your money. That at play in other seeded as interest saying. Firm name Renaissance capital. Who'd just specializes an IPO it's since IPOs and mean EU generally ye hear about it and if they're big name. But at the same time did they do happen a lot into this hundreds per year that you might not be aware of so this is the certain firms out there that just invested ninety euros and in Renaissance capital's one of home. Indian and again and that's not to say you should or shouldn't. It's just our it's another way of playing this and IPO market did really well. If you sit well much of I wanna do all snap Chad but I do like the idea of you companies going and going public in the that means they're growing and that's kind of exciting. You know it's exciting to be part of an exciting growth. OK then you might wanna take a look at Renaissance capital are other ways of sort of owning the market as compared to one individual she sure in around you know. In regards to our philosophy you know your income playing your investment strategy. You know due to coming to your clients call you quite a bit and say hey look I I I see. You know XYZ company your ABC's about to go public let's jump on that. I mean not too much she does I think I think they'll put a plan you know oh boo we talked about a lot because because we certainly enjoy it. But beautiful for all the listeners out there are certainly for our clients. I mean EU yes he might scissors take a small flyer here and there are. On the senator Clinton's fund money counts any reason that's kind of where they too that's what at least my clients that's where they typically will take them for the last in my opinion on him. And you know give in my opinion the tennis really up to them if they wanna pull the trigger in there quote unquote fun money can't it's it's more about being able to tell them to say hey that's OK you can do that because even if that goes bankrupt. Your income is going to be OK and you or your investment plan your overall you overall retirement plan is gonna be fine well that's that's a big deal that you know having a plan in place having their income Glenn please. Having net investment plan in place. Noticed the two worked plan in plain yes. I know we go back to that it's like almost surely can navigation system you type in where he wanted to go when navigation systems giving you a plan. Were rude or strategy on how to get there are a news. Doesn't mean that you might not take a couple of detours or have some fun on the way which is quote unquote the fund money and just kind of been building a whole thing in. But it's just an idea. You know that the idea of having a plan allows Ricky said the clients to be able to may be ticked up flyers they want to. What is it having a plan allows you to go back to win decisions like that need to be made since they have matchup I snapped Jan Michael Palin look at your plan how we doing. Maybe you should maybe you shouldn't but it did it gives you something to referred to. To make sure as you're on the right track. Fox is so important have a plan in the diocese. We believe that five plants and income plan investment plan attacks planned health care plan in a legacy plan make a one holistic strategy. It's important get this in place as you approach retirement or even if you're in retirement so we have five appointments or the next four weeks to pick up the phone call 802277777. Again 802277777. Or visit us at SE HP financial dot com. We have offices in Woburn west Borough Hyannis and Plymouth pick of the phone 802277777. Coming up next our retirement road map recap. 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. 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 -- SHP financial -- risk allies the award winning risk engineered technology then mathematically pinpoint 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 -- 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 for 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. For over a decade and this HP financial has helped the people of New England lived more secure comfortable lives by promoting safer more complete retirement plan to call us HP today at 802277777. That's 802277777. To your financial advisor only mean would you once a year to review your portfolio if you're five to ten years away from leaving the workforce your retirement could be at risk. This is Derek Greg our co-founder of SHP financial did you know that you were 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 to 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 it. Call 800 QQ 77777. That's 802277777. Our request or appointment online SHP financial dot com. You're due to a CHB 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 Don come now here's your host Gerri great. She's jealous now it's time for retirement roadmap recap for me give you are tough takeaways from this week's show math they ski dumb woman to go back to is one of the opening segments that we had in regards to tax planning. And the interesting strategy it's out there and again it's true for all molesters and may have missed it it's on the back door her back to a Roth IRA. And it's just being able to take advantage of a non deductible traditional I error a too then convert into a Roth IRA. It's very complicated or sounds very complex I know but it's just symbolic of the fact that you need to be having this level of planning. Near you you you're advisor it or you personally if you are doing it yourself. Should be looking at all the different areas to enhance your overall return. You and specifically taxes is one area that needs a sharp high. And so by no means are we CPAs we ought to see partner which CPAs and in their part of the team. But just gives you the idea that you know you have to remember that taxes are always taking a bite out of whatever term you have. And so whether it's a you know capital gains in his cell whether retiree money etc. And it is always has always a net rather than a gross. Roth IRAs is tax free. So if you can find ways of funding in funneling more money into Roth IRAs it is much better for you personally your spouse your family it just a list goes on and on. So I just I would really encourage people to make sure that they are having that level planning. That they're taking advantage of all the different. Options that are are available to to generate tax free dollars in the back door Roth IRAs is a great way of doing. Guess thinks and you know well Matt is talking about their folks has some some tax thanks in tax strategies and you he's right you need to be getting that level. Other advice or at least having the conversation in knowing that the strategy is available. My take away. And it kind of goes back to we talk about almost each and every week is. Most people are coming to our office have a bunch of you know accounts may be scattered all over the place that they have no particular plan. No one's a wrap their arms around kind of their situation. And told them. You know how this is gonna play out retirement how they're going to be able to generate the income they need a net of taxes with inflation. You know protect against longevity. There was talk to them about the potential hidden fees and their accounts that are aren't eating away at their returns you know week after week month after month year after year. So these are the things that we focus on at SHP financial in our holistic planning process. What we focus on is everything from investment planning income planning tax planning which he spent a lot of time on today. Health care planning in legacy planning we believe that having these five plans in place. We'll give you a complete retirement plan and we partner with CPAs and attorneys in. Us says the advisors. To make this all come together for you we wanna be a one stop shops and and people can come in here get everything done for them in there and leave with a plan that they know as you know in place in the assault with so. We have five appointments or the next four weeks. If you like to sit down with one of us. To no obligation consultation. 802277777. Again pick up the phone don't be complacent don't you know most people react. When things are going down I mean the market or something like that. You wanna get headed this because it's not a matter of if it's a matter of when the market will correct itself so again 802277777. Or visit us at SHP financial dot com. That's all we have time for folks who look forward to seeing you next week or here in their retirement roadmap radio show brought you diocese B financial. When he needs something important done around Pelosi called professional. Why is it when it comes to retirement investments most people don't know what -- is built on or if it's even write for them SHB financial is made of a team of professionals that will create a retirement plan as individual as you are and make sure your financial foundation is clear to you every step of the way coalesce HP financial today at 802277777. -- no obligation retirement readiness review they'll learn about what you want most out of retirement plus you'll get an investment and retirement analysis your current free analysis and attacks analysis you worked hard doer and didn't say that's a good time to have the right professional so if you keep it and grow at LS HP today for your complimentary retirement readiness review at 802277777. That's 802277777. Or visit them all mine that SHP financial died. 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 this is Keith Ellis co-founder of SHP financial if your financial advisor is only looking at your investment portfolio it's like having a house with no roof at SHP financial when we create customized retirement roadmap plans for our clients managing their investments is only one part of the process we include income and expense planning inflation protection tax reduction strategies health care in -- state planning if you're current advisor is not talking to you about these important issues we invite you to come in for complementary no obligation retirement roadmap review get a second opinion your retirement wellbeing could depend on call 802277777. That's 802277777. Or online at SHP financial dot com deserve. Financial advisor only meet 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 were 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 to 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. For over a decade and 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.