Mar 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 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 peck has always. In today you wanna get to a few different areas of your retirement. First you want to walk you through our retirement process and why it was developed many years ago. To take care of view in an inept our clientele listeners obviously it's it's meant to be there to get you to win through retirement. We're also going to be joined by attorney keeping menace the Reagan did discuss the great wealth transfer we know that. In Jim beam me viewers have a lot of assets that are built up in those assets at some point will be transferred to the next generation. So it's an area of concern for a lot of folks that we see how to do that efficiently. As well as especially from a tax standpoint. We're also gonna this is going to be a little difficult but I'm gonna compare growing grocery shopping. How are you invest your financial. Instruments or what instruments are used two investor money. And we get to this segment later in the show I think it's going to be an alarming segment summon a share. Kind of some stories from clients who maybe take time to shop in a grocery store for an outlet. You take time to check prices but never do so when you're looking at their own funds. Finally we're gonna talk about an hour weekly mark report will Libya recession this year what our thoughts on that in a talk coming up but before you into that Keith Houser thing don't you. Who good Derek he had good fun past weekend took the boys so you know that's a big. Do we before we went to me I think I mentioned that other radio. So they really go into this economic known and we stay you know hale and relax a little zionists who wasn't teach you much but. Clinton of going out to lunch one day I just took my my wife is due and something with a couple of her friends so business to take a little in. You have some fun stand local Lula coffee book any type of things very key in tandem relaxing get them. You know did you receive unanimous even though is freezing cold you know. Yet there's so I was so happy we had a slew of birthday party is this this week this past weekend so William blows over the Dedham community center and they can LA campus like indoor. Like little basketball area and the Dulles project als everywhere like footballs were bouncing off the wall and basketballs and dodge balls and everything else but it was indoors and it was great to look at his run around to exceed and all of that energy and art book going nicely I think fifty. Against and never said. Flotilla activists and speaking geezer we have that's true it's true it's coming outside like Zola peeps back it's not even meant to be. Pragmatists we need the prayers model listeners yes we have to join stage in Utah for like six hours over two days and we're kind of sharing you know how we developed our company with a lot of with a you know many other advisors throughout the country and kind of how we run our process our practice he really what makes us different. You know I think a lot of I think that's going to be the new age out there in terms of advising. The old days of just be handling investments which is crucial that's an area that we do we feel like we do really well. And for our clients but investment planning is not an entire plan that's just a piece of a plan so I think. Most clients most customers are getting tribute to the fact that they want for full. And vice what's funny sit mention that Derek. Has me with a couple down and our Hyannis office. And they came in. In May they've been working with a advisor for twenty plus years. And there ST it was about a little under three million dollars they had quite a bit invested in the market will do with the gentleman. And unfortunately. All we focused on was investments has all he cared about was investment investing their portfolio which again. That is very very important. But it's not everything because if you think of the size of EST. In the tax liability that were to happen to them if they were to paso this advisor. Wasn't talking to them about the need for tax planning or trust planning to to Levy some taxes. He wasn't talking to them about the next phase of their life which is the transition from traditional health care 'cause they're just getting ready to retire on the Medicare helping them through pick selecting the crate met and the right Medicare supplement. Long term care strategies. As well as developing meaning comes strategy because guess what when your retire your paychecks stop so. You re investment planning is important. But you can actually start to create net worth to build your estate. You need to have all these areas look at not just your investments well and that vessels assay to vote at because. There he mentioned about how old people ask all the time like how are you guys different like what while I go with a chp as compared to hear anyone of the day brokerage houses. And no legal fees and things like that we'll talk with a bit who looked a little bit about that later. Does this say about how old is being called driven you know my mom my answer that question is that that we're we're gold driven. We're process driven and not certain product drift correct because I know how how can ever give someone investment advice Alyssa note during come planet sniff in how could every give someone it again back to invest and vice how they would get at every anyone their investment advice. If I don't know the tax situation so you know in my growing it potential state tax problem down the line. Or flashy minimizing that by saying he should take withdrawals from those dire Reyes compared to your after tax account. And knowing that you were providing and had a fiduciary level which is a little bit different then. He tripped traditional. Either annuity product pusher or your brokerage house that. You know can be insecticide products to sell different funds or things like that so. That's right it's basically were were looking at everything kind of taking a step back sitting down with someone taking a step back getting to know them. Their situation. They're goals what they want out of their retirement and there were building a plan. That's around what they want not what the advisor wants which is unfortunately. A lot of times what we see you know people come in. During deer either paying too much in fees hidden fees commissions. Or they're just dealing with and knew he salesman. Who just wants to sell them and knew he he confident that's all they can do so it's one size fits all you walk into a shoe store. There Iraq issues your size thirteen what guess what no. Appear in nine that day near nine every day you go in the hey you know. Playing instead it'll just make you should you have entire team around you as well I mean. No not not not just you want a goal driven any process driven plan you know to make sure that. All of your priorities in anymore we'll what you wanna do what the goals are because. It's difficult it will when you are as you into retirement it's it's it's harder at that point because when you work in. Overtly what we're younger it's like OK I have my mortgage that a need to pay I have I have kids at their feet I have you know tuitions and need to pay. And then what as you as he Asian as that that that stages real life. Sort of wraps up. What do you wanna do with that time and what you wanna do with all those sacrifices. Might not have been ever relieve. Sort of put on paper. Because I did and now. Saying Keith who were talking we're going through that case you're discussing earlier with a client had three million dollars they had an advisor managing their assets but didn't even look at the estate tax issue. In just biased so simple you know. Planning and estate planning your able to save them thousands on the next generation that was a one dressed like I just want everything else so smokes or most folks have a plan when it comes to income meaning come. Usually most folks have investment plans you may have investments in a few different accounts are an IRA in a sep IRA and you know maybe haven't advise him maybe don't. But that's one area you have to make sure your entire plan is talking to each other on the same page. When I mean by that is what makes us different is our retirement roadmap process. We look at income and investing is crucial those are two parts of our process and our plan but we also want to build your planet looks at taxes put your tax plan. What's your health care plan when you retire are now what's your legacy plan how do you wanna maximize what's left in the most tax efficient manner. That's a mace is different folks is that we build we look at the whole picture. Not just one area of your retirement so without being said. I checked in our office we have eight appointments are we set aside just for you over the next three weeks. So to take some time pick up the phone now and give us a call 802277777. There's no charge to sit Dallas for an initial consultation. And again we have offices in Plymouth west Borough. Woburn in Hyannis the number to make a reservation for a meeting her visit is 802. Q 77777. Again a 10227. 7777. Being good SHP financial dot com. After the break we're gonna be joined by attorney Keith McManus forming minutes estate planning. He's gonna be discussing that this great wealth transfer we have coming up and how to move assets over to the next generation in the most efficient way possible but grip back. You're listening to us HP financial retirement road map show your guy Jewish successful retirement. The phone lines are always open at 1802277777. Stick around the guys we'll be right. Back when choosing a financial advisor to manager investments it's important to note the advisors being held to fiduciary standards. This is Matthew pack co-founder of SHP financial and I've been working with families for over a decade helping them plan for retirement. Investment advisors who are bound to fiduciary standards are regulated by the SEC and state security regulators. And they're required to please the client's interest above their own. Brokers who are fiduciary or not held to these high standards and their first responsibility is to their own firm. It's our priority to make sure your interest come first every step of the way. Call a sixty financial today to schedule complimentary consultation. In discover the fiduciary difference during your first appointment you'll receive a stress test in the analysis of your investment portfolio at no charge. Call 1802277777. That's 1802277777. Or visit SHB financial. Dot com when you're building a home you need more than just four walls. You need a roof. You need a foundation without these things your home would be incomplete the same can be said for your retirement planning. Hi this is Keith Ellis co-founder of SHP financial if your financial advisor is only looking at your investment portfolio. It's like having a 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 estate planning. If you're curry advisor is not talking to you about these important issues we invite you to come in for complementary no obligation retirement roadmap review get a second opinion your retirement well being could depend on call 802277777. That's 802277777. Or request your appointment online at SHP financial dot com. Your June 2 SHV financials retirement road map show where your route to a successful retirement again. Call BS HP team anytime at 1802277777. Or visit them online at SHP financial Don come now here's your host Gerri great. She's jealous so we're happy during the segment two welcome attorney keeping me this on the show me miss estate planning how why sir I'm doing very well Derrick thank you that you typically serve because. I thought. Are you totally off the -- that's how you can illustrate how accurate fire at a very hard on keeping Sarah Palin today through mr. there's did you research he's been did you tell us to keep him in class Dr. Seuss since we chemists untrue is they won in his friend listing of these little thing one thing today. I think guys look like things that I cannot sell our without a couple of so in all seriousness we were talking last segment and distribute talking overall and our summer meetings about the baby boomer generation and obviously they've done a good job of saving money for the most part in part of the concern that we see when folks come in and they ask us to say you know. We've we've seen this money we've done a good job we want to live on in use it while we're here. But we also wanna kind of pass on what's left in the most. Tax efficient way be seeing a lot of Eminem's soon a lot of folks at your meeting with their and that the new generation with similar concerns it. They absolutely are Derek is by the year Tony 51 out of about five people is going to be over age 65 big growth tie at age 85 plus is the fastest wrong demographic by that time and I think what I've been seeing Ayman I've been in practice just over twenty years hope to be in practice at least another twenty or more and the reality is that. The our special issues that come up for people that are in the baby boomer generation. And I think those issues are gonna be aggravated as years go by in less these people have taken advantage of planning and friends doing estate planning properly. Indian and advanced when people are well. In doing financial planning. In advance when people are well with a company like SH paint and Keith did you find them when people call they primarily focused on probate. Because they know that okay if either the estate plan them probate going to be taking care of and then you say oh by the way here's a link on the estate tax. Ford to people kinda understand estate tax and they say I know when to be doing both yet. Some nights it's a good question some people do that people that are are pretty and well advised her you know have to have a good level of understanding of this will come in and now they'll know in advance with some issues are like the state taxes and in probate avoidance I find that sometimes people come in and they have more interpersonal concerns that their concern is. Geez I worked really hard to accumulate these assets and and I've heard. That the government has different plans as opposed to all of it going to the children or. You know what happens if if one of us in a married couple or couple that's together what do one of us passes away we wanna. Downsize. Or administer it liquidating assets that are. In an account you know what about capital gains what about you know some people encounter that whole Lotta people have never felt the sting of paying an estate tax or of going through probate and we raise their awareness about down you know you folks and SHP do a great job raising clients awareness of that but it's it's a little more technical and I think people quickly appreciate that but sometimes though when they first approached the office it's usually because they hear of someone who has a loved one or friendly member or an associate who really got burned. You know so and so died and all they get caught up in probate. I didn't know attorneys charge that's money that much hourly from an over power many months or would she we had to write a huge check to the department of revenue furnace state tax them and then what we dive into the specifics along with people you know that understand this and have that is an issue. So when you see basically does he not talk months last week actually in the show. Where another area IC units in and a lot of folks in the financial planning world in the attorney world. You wanna make sure you have a team that's going to be aired during your retirement if you're sixty years old 65 now. He can you working with someone who's 75. I mean you and I mean you be very true that's a big difference here I think is while wearing them. Obviously a little bit younger and he was not much I Iraq we're all pretty young very much and we plan on god willing being here for the long run again I think it's an area people need to don't you know just make sure that whoever your way that they have either a good succession plan. Or they gonna plan on being there you know for your retirement or. Right now and and I think down that's that's extremely important point I think also we wanna look at from the client's perspective how is their life can be changing as the years play out one of the major issues I think a lot of baby boomers will express to me. Is an I don't know if you can carry this too is longevity and I'll say you know my goodness. People living longer I need to make sure that these assets are going to be around. War I'm you know what happens if one spouse dies in the other spouse has twenty more years to go or or you know sometimes that happens in Pennsylvania and how we get a downsized GT really mr. in mistress is selling so I think I don't wanna be in that same. You know big colonial house and going up and down the stairs are or is it gonna get kind of lonely in there and you might want to downsize and move some herr warm me that I'm sure they can do that. Is a function of both combining your financial plan in your state plan together. And that's a man mentioned earlier about being goal oriented NetSuite that's who we are for our clients to work for them to get to where they need to be. In not just selling something or pushing something in chief I know we're talking last segment about a key tell us that is above a certain clients. The Syrian client that you had met with and I think both do you in attorneys menace that was this was couple. They came into the bus three million dollar stayed between properties and accounts. They they had an advisor for twenty plus years and I'm assuming that buys it was just doing investing but no other advice. And that's that's who we see a lot of times Keith is on you know so when he advises all we wanna do is focus on the investment planning piece you know and mean in India in your line of work is that is that we see a lot of our style and the second of all. Again ninety go back to that three million dollar case here you know what kind of nuggets were left out there on the table if that's all that advisor for kind of exposure I guess she. They have the I have if I were to rank the issues that I've seen I'd say that's that's probably in the top five. That you'll you know has an estate planning attorney myself my staff will will you meet with people. And many of them especially the more affluent well already have a financial advisor. And I only need to do is inquire for a few moments as to why they don't already have a trust based a state plan why they seem so unfamiliar with the estate tax. Whether they're aware of the public capital gains tax is gonna work and start liquidating assets in their older years. And and so do your point Keith. Nice to see that frequently and I don't know why that's so common I could speculate. But I eight I have my suspicions as to why that happens. But I think the best thing to do is just understand that that is something that a lot of people listen to this may be encountering. They marry have an advisor who has never mentioned the fact that they need in a state plan based around trusts. And it's not just for the super wealthy it's for people of all stripes that need to do even basic estate play and play in houses they just sort of ruined all of a listeners are aware and Inky creek with summer on the mean the Massachusetts that the Massachusetts state tax is up to 16% expect Corey so silly that that's the number that all of our clients and be aware of is that taken into 16% and then. And then a million dollars is the only exemption cells in there's a lot of money dead is this potentially lost in didn't think it is a trigger point you know what your past that million dollars attacks in the whole state. GM and so for three million dollars state. You know you're saving considerable funds 56 figures and a plus when you factor end. Probate fees and attorney fees and all in Findlay harmony which is important. You just save them you mean a world of difference for this family how when when they have a properly drafted a state plan collects. 2000 mentioning that other advised to work with him for years just the first meeting the first two meetings getting your cap me introducing to return Gimenez. Filling out their plan that can save you hundreds of thousands of dollars for the next generation just that one little area so what's so important. In three words peace of mind an incorrect and keep. I'd say the clients should not have to bring that up to their advisor if you exactly chaired by your advisor advice on death rock FFF so folks again back to our retirement roadmap for real look at all fired areas of Europe. Retirement not just one notch is investing not to sing come. Income investing investment tax planning. Legacy planning and health care planning. Build that into one holistic plan for you to get you chewing through retirement in the most efficient way possible. We have eight appointments left over the next three weeks into the phone folks call now we have offices in Plymouth west Borough were born in Hyannis. 802277777. Again 802277777. Or go to SC HP financial dot com. After the break we're gonna take you to the supermarket folks. And I'm a share with you how some scary things you'll find in the financial world how the supermarket grocery store to relate to your financial picture of grip. You're listening to us HP financial retirement road map show your guy Jewish successful retirement. The phone lines are always open at 1802277777. Stick around the guys we'll be right back. Years ago we heard the word millionaire it was a big deal but today it's commonplace to have a million in assets but that doesn't mean you feel like a millionaire. We think you (%expletive) this is Derek remark co-founder of SHP's financial and we use a term called the citizen millionaire. These are folks that might be just like you. They've worked hard their whole lives and saved a million or more and there are neighbors our friends our families of the citizen millionaires and SHB financial we know you have different needs and are you need to you. And we have investment strategies that might help make your retirement more successful. If you're a citizen millionaires who want to ensuring grow you have Ian leave something for the people you love. Cost today for no obligation review ready hundred GT 77777. That's 800 GT 77777. Or visit us online at SH OP financial dot com. You've worked hard and saved. Now make sure you're on the right track. Why do so many people have trusts for their families. Do I need one and what exactly can do for me how old 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 processed and addressed 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 at 5087788855. Or visit McMahon assisting. Plan dot com nowadays for a one k.'s are part of life changes are you or your spouse have a current one or even an old one tied to some long forgotten job. But how familiar are you with your 401K. Do you know your options your fees are you Max deal the benefits. Most importantly do you know that you may be able to roll over your 401K. Without leaving your job. I am Matthew pack of SHP financial and we've been working with retirees and pre retirees New England for over ten years. In that time we've learned a lot about the different for a one K offerings from local companies that you know me we've worked for. If you wanna know your 401K inside and out pick up the phone and call 1802277777. For a complimentary consultation. We'll get answers we'll see if you can take more control your 401K. It will make sure you're not leaving any money on the table. So call 1802277777. Or he could always find us online at a sixty financial duck cops. Your June 2 SHV financials retirement road map show where your route to his successful retirement again. Call BS HP team anytime at 1802277777. Or visit them online at SHB financial Don come now here's your host Gerri great. She's jealous I so Manning keep them and put you guys are in the spot. Hammond asked do you view how will you keep do you any grocery shopping areas that done by more. Seven 3030 meet. 7070 here that means I do grammys nine to ten medal and I probably seeing who can tell you know I do like to do with the you can die I go to the store and I know where everything is or is whipped through where she takes a little bit longer I'm not not. Don't maybe states suing five feats are steps away to order a seasonal things T it'll take you out though. Kelly I don't know Isabella what do valujet I'm I'm I'm 8218880%. Me Tony present Dan meaning you say you yes there and I I know my way none none none only around his brilliance the executive running out I got a job but not not does that mean like I -- will when I bring in the gross she's they're gone before I even have a chance for the way they Ed and and and and and I also know all about the people I'd systems of delivery plus pick up where he can pick up we can't it's you know it's it's really my kids like these bring in the new groceries this not an hour Lauren is like like there returns you know analysts senility dramatically everything openly and they put it. I have to be honest I'm on this 0100 train. That's zero job and none had I do ours I'm always hungry Oregon Ares is grabs yeah need only Thomas I'm not allowed there anymore accessed at a Jimmy over by every time I go. But when it comes to financial planning it's crazy thing to vote in this is something I was discussing you know group we were discussing kind of together. Last week. In I think about when you go to the grocery store you it's a grocery store outlet to buy clothes. When you didn't whether it's you are your spouse or whoever goes grocery shop and when you go there think about this for a second do you take time. To like. Look at the price whether it's a can of food there you kind of have an idea of you probably have some sort of idea area of what you're spending or when it's gonna cost to buy that item. Semen to go to the clothes store tea not a fan can stand doing going shopping for clothes. If you if you find if you're gonna get shirts are sewers tire blouse and every buying. You just starting your car or do you kind of Syrian in the two with a prices mean this is 300 dollars I'll probably go with one that's cheaper than that. Well it's amazing how many times I see just talking to my family and friends and clients. Folks spend so much time like cutting coupons trying to save money being fiscally responsible. To save money. When they go shopping or walk but when it's amazing is. When you look at their financial portfolio. It's like they're being bombarded. With so many fees. Human and we talked about this in the past folks because. You know we were always concerned about the fees that are paying I mean even the Department of Labor issue stats. I'm Heidi should be working with a fiduciary based model as opposed to regular brokerage model. You forget everything we say any shows. At least half your assets coming for a least a review. On what you're paying in fees because again I'll tell you story that happened just in the last couple weeks of a client that was referred to me and the advent in working with a advisor for years. He was a contract did really well and his wife was a nurse practitioner and their carry about 35 years from retirement. They had a vote. Two million dollars and invested and they had another you know temple money cash. In so we said what we just look at what you're paying in fees and here it's funny you were discussing like kind of how they like to they're pretty conservative people than not big spenders. But they cede a lot of a lot of money. And so we're going through this situation in this day I think we're paying I don't think repaid fetus had a baby very small mom because we don't see anything that statement. And I said whoa this is my let's just make sure and I and I knew and fortunately it's you don't need to bear bad news to know when you look at some of these statements play. And it just doing I mean we we eat breathe and sleep and every single day so where do we know and then we can almost psyche into a grown 'cause we know that they there's there's some issues here who that the kinds know about correct so with me so when it came to the fact they came back for their second meeting. It was almost like I felt bad shareware them but to on two million dollars. They're paying just short of 60000. Dollars in fees. So think about definitely not that's one example hopefully not nab Bowen doesn't matter if these two millionaire a 100000. That is thank you race you can spend time cutting coupons and looking for the cheap beside him when you go shopping and even that saves you thirty dollars a month. I mean these people are overpaying by. Tens of thousands of dollars. In the had no clue and you wonder why it happened this hasn't grown as much as they had. Now it's funny to just think about it if the market is ten you get 77. Stone get those 23 you get Tony you're still happy. We are leaving are those fees on the table so. That that can be going to. All your dreams think about what they can do with 60000 dollars that's a new car every single year and a nice one gets like twenty trips are out. Anywhere you wanna go that's I mean who gets to me like a hundred business to ball baseball parks around the country in football whatever it is your genes are. It and I love that you know wasting money mosaic and enjoy event that the and that the sort of the result of that conversation which is asked an incline since an ass all the listeners semi well when you know the number is mean would you write that check exactly every year. You know if you're getting the most amazing surface and the most in Indy getting a great plan and you doing Planar getting all these all these bells and whistles and all is a value add services. I can thank you see where clients they have I would write that check yet but yet ask yourself that question. DF to see what that number is in front of view in order to understand whether or not you would or wouldn't. Let's assess it now be rude but that's you know his repaying in ice in the first they said. I send you like your advisor admissible we like gumbo not that much from an opinion 60000 dollars in it. So the point and that was only one issue that they had. I mean they they there was not Dayton there was a whole planet had to be done for these folks in in there working with a smirk we're building and as we speak actually. But the problem is you know so many folks come in. And out at least kind of get year and to collect the analogy get here shopping cart stand to make share the groceries that you are buying in the funds that you do alone you know exactly where your pain. Because in the financial world unfortunately this two standards the 50% of the people that come sit down on me. They'll say first and here's you know wanna make sure your fiduciary. What you'll don't know what that means that there's a fiduciary standard where we have to put your best interest ahead of our own. And then is a suitability standard where as long as it's suitable. Doesn't mean it's your best interest but it's suitable then it's OK to suitable world folks that's we see a lot of these funds a lot of these high cost funds. That you might known not even know about it. Where someone might get paid a certain amount to offer you one fund over another. So is out in your best interest there is and their best interest in book where we are obviously were fee based advisors. In blasting on to make their last point. And anyone Harper's anymore but when we did that the analysis that also didn't include that they had a lot of A shares. Into bonds sleep solos on top of that so when they bought those funds originally their payment in five and five and a half percent. Just to get in those funds for the men pay 60000 dollars a year. So I mean that's a draft deal you happy. I married the other Isiah so again when I said before folks please if you don't do anything else I need to take time. Come sit down with us who were happy to build look at a full plan for you but it starts with knowing what you have now. Boasts both from a risk standpoint how much risk you're taking compared to when you're comfortable with. But also from the standpoint that might be you you might have a bucket of funds spread out maybe it's one company immediate multiple companies. Do you know we are paying it is so important is we seen so many cases each and every week come into our office where they're over paying fees. So please get your at least a year accounts in allies from what you're paying in costs. If you come into our office will sit down for a cup of coffee to be about an hour is no charge to do so and we if the appointments available for you. Over the next three weeks we have offices here implement cuts were recording out of today. Also Hyannis west Borough in Woburn in all you have to do is pick up the phone so you wanna sit down for no obligation review. The number is 802277777. Again 800. Two Q 77777. Being an SE HP financial dot com. After the break we're going to be joined by Matthew packed our resident CFP. Humour going to be discussing in our weekly market report will Libya recession this year America. You're listening to a six speed financial retirement road map show your guide to a successful retirement. The phone lines are always open at 1802277777. Stick around the guys we'll be right. 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 shouldn't be protected if he got divorced. Careful est. Planning is the best way to guarantee me your wishes are carried out to benefit your loved ones. I'm attorney Keith 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 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 comedy man as a state planning it 5087788855. Or visit McManus a state plan dot com. When he needs something important done around the house he called professional why is it when it comes to retirement investments most people don't know what theirs 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 college sixty 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've worked hard to -- and save it at that time to have the right professional -- if you keep it and grow it coalesce HP today for your complimentary retirement readiness review at 802277777. That's 802277777. Or visit them all mine that SHP financial dot com. And now. It's time for your weekly financial update DS HP's financial weekly market reports all the things you need to know about the market the economy and your investments starting memo. I so prominently in some inside information because I was nervous that she's. Who's gonna attack me after that last segment you want to get of you wanted to get his point across and I we ran nine times how many get back to their and a second. But Oregon we're doing a speaking event for two days in Utah at the end of this month. In so. We're you know we're speaking in front of bunch rather advises and on our process and how to teach their advise is to be more than just an investment advisor but look at the client's entire picture give them more value. I'm going forward wolf what because they're gonna be on the stage for two days the company that hired us to go out there. Center stone true to our office can be meted joke the skit on what's called office linebacker and you've probably seen it before about. Basically take a long story short the joke is just to kind of break it up a little bit sore not you know being born we on the stage for three straight they're going to be. It is video. In the joke was in our office here on things differently when people don't listen when ire when our staff isn't paying attention. Keith this is a linebacker music 65 you know good size dip in humidity was. In the video will mile to get this public at some really pretty funny but he was tackling because of soil if someone dinner if someone like didn't feel the coffee pot up all the way or someone. Who's doing something more wasn't efficient you'd just come out of nowhere and tackle him stream that is in scream at them so it's a joke obviously I've watched this I've watched the video like 58 times already to Terry T yes Terry I think that's kind of what is built around the southern Israel bringing up is because you just give me a look. That seem tackle class sometime around anyplace honesty that is generated I'm the most common Sochi if they take the boy what are you gonna say go ahead. Yes who regards that the conversation kinda sum up we you know brief because we did run out of time. A lot of times that it you know people come in sailor come only paying my advisor 500 dollars a month or early or 500 dollars a year of a thousand dollars a year with a called advisory or they'll call their advisory fury Dennis say you know last summary there you know yeah I is morally charge you 500 bucks to it to manage all your counts. Well let's think about the effort such an if you have. A 1000002 million dollars million charge or did he and a half a million dollars union charged 500 dollars. They have to be making more money than yes so where are the fees will and he is hidden fees we were discussing. In the last segment in. What happens is to get into these certain funds and things like that that these advises brokerage houses like to push. There's loads either on the front end or in the Bakken typically. But there's also cost of ownership. So things like expense ratios. You know turn over does all he wants he had his told me once he's it's huge so there's all these different hidden fees that you're not aware of as an investor. That's the poor were really trying to drive home in that last segment is Blake Derrick said. You can save thirty cents or you know forty cents off I think your shampoo at the grocery store but if you're paying thousands of dollars extra in your brokerage accounts. That's a big eyes and said I mean really. And coming get your grocery cart skin like Eric said get your statements looked that we can do the analysis we begin. Basically we set to do we set the bar here you are today. And then here's some alternatives it's a it's a nice kind of starting point for email and a central point when saying everyone has these high cost funds. It's a ED. Eighty to 85% folks are coming now I said Daoud have that the episode because there are some good funds as well look we see a lot of overpriced high cost fund so folks again. To come if that review pick up the phone. Call 802277777802277777. Or you can book a consultation actually online. At SHP financial dot com next we weren't talk a little bit about during a weekly market report. We do this at each and every week in Matt's gonna kind discuss you know get in some calls and some concerns as is this year. Rushed to a good start obviously but it is they're gonna be recession this year and obviously map you know gonna save under simple way the other if you Fortis on here. As it is crystal ball and what will most certainly feel it. This week as well as almost every day is a question of raising interest rates you know so some days it's okay able raising interest rates due to bonds to other days as well we're raising interstates do do some fixed annuity scene of the W work with but also we get a lot of mobile raising interest rates due to our overall economy and and will that sort of tip us into recession and so we put together report that well it'll summarize now they can answers when that tipping point is. He'll win a higher interest rates and then we'll then sort of act as as Buffett says that of gravity you know on. On objects and exactly so rising interest rates cause asset levels to fall back down same as gravity makes us are both fall on the ground or whatever it is. So first let me talk of a kind of where we are right now in the sense that. There is significant stuff hawkish tone right now from the Fed reserve that they will be raising interest rates in mid march if they do sell. That will be the third interest rate hike over the past fifteen months. So we are in that environment and they anticipate potentially two more throughout the right there the remainder of this year. In general book Molina before it sank into specifics. It is a very positive thing to have you know interest rates normalize. You know what defer any CD owner out there they're going to be very excited that this is happening any conservative investor in general let's trying to get yield inning come from their from some of the field more conservative holdings. This is music to their ears. And so. That's that's again and generals a good news the other thing just to quickly let people know about is what the Fed does mean the Fed basically when they raise interest rates that's just basically. What they're raising interest rates on banks you know banks like JPMorgan their clients to them same as where clients to to JPMorgan. And so if they're if the Fed raises their interest rates then JPMorgan has the sort of raise their interest rates to could recover that amount and then that sort of trickles on day out there. But here is the number to be most aware. Is when you look back in history. At what point does the interest rates exceed GDP. And that is the tipping point OK so far interest rates are at like 5678%. And then our gross to Macs too gross domestic product about product. What were actually produce no were actually make it. If that's the more I'm sorry that's less than the interest rates. That's when you're going to see a potential recession release historically have dashed when you seen recessions hit. It's a right now we have a wide gap I mean what they're talking about Reno point 75%. On the Fed rate. In less they are GDP is a 3%. That's a very significant gap. A large gap that the interest rates have to rise before there's threats that the interest rates themselves will tip us back into recession you okay. So the good news for everyone again is just that tipping point. What a difference between our GDP over are interest rates are as long as our GDP is an excess of that amount. Then we should be okay again knock on wood famous last words. But that is where you really need to look at historically is that if interest rates really sector rise very very quickly and they have been turned surpassed our GDP. Then there's cause for concern. Folks are and I'd urge you to get your hands on the sexual full document to really good read. Hi you can do so it SHP financial dot com and then you go to newsletter sign up. We sent this report out each and every Sunday along with our copy of our radio show for the past week as well as some other good information on the market when it comes down to mess talking about the market. So many folks get so confident as the market's doing so well. In now might be a time to start looking into may be reducing some risk reducing some exposure to our clients usually have a balance between asked to set aside for safety. For income and for growth but that growth money needs to be long term have you set up that proper balance within your own portfolio. To make sure that when you retire you places you can draw on besides just the market because of the market goes to a dip you happen to need the money that means you have to sell at a low. So what do make sure you have a full plan that looks all areas of retirement. Specifically though it's within your risk tolerance. We have eight appointments available for you do get a retirement roadmap preview right now if you call 802277777. You seem like a no obligation review we have office and Plymouth west Borough Woburn in Hyannis where recording right now on a Plymouth Massachusetts and again at 800 GT seven. 7777. Being an SHP financial dot com we get back please stay tuned for the retirement roadmap recap we're gonna narrow down our top three things he should take away from today's show. 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. Q 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 wiese who crystallize the award winning risk engineered technology and mathematically pinpoints your -- number and aligned your portfolio to match crystallized replaces subjective terms like conservative and aggressive with a -- number from one to 99 precise way to measure your exact comfort zone for downside risk in potential upside gains are US sixteen or 67 visit SHP financial dot com and click 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 risks number is two day visit SHP financial dot com and click the link what's my -- number that's SHP financial dot com to. You currently have money invested in mutual funds are you aware of the potential hidden fees you could be paying this is there Greg our co-founder of message. 1% in feast their broker once he did defeat analysis and her portfolio we covered that there were hidden transaction fee she annoyed the issue is paying because it didn't appear on her statements instead of the 1% she thought she was paying. She is really paying close to 3%. For her that was 151000 dollars in fees as an active traveler that could have paid for several trips last year don't let this happen to you after a lifetime of hard work to make sure that your nest egg is safe from hidden fees plus HP financial today for our complimentary consultation and he announces to uncover what can feed you maybe can call 802 Q 77777. That's 802277. 777. Or is it SHP financial dot com. Today's retirees are faced with many fears and challenges. When I outlive my savings and will my medical expenses be too high my money's in stocks what will happen to me if we have another market crash. As a retiree or pre retirees and if you ask yourself these questions fear not. This is Matthew pack certified financial planner and host of the retirement road map radio show. Heard right here on the station each week my partners and I SHP financial has just published a new book that SH OP retirement roadmap. In this book we show you how to create comprehensive retirement plans focusing on five critical areas of your financial life income. Investments taxes healthcare and the state planning. Right now you can download the first chapter of our book for free just visit retirement road map book dot com desk retirement road map book. Dot com free a free book chapter. Retirement road map book dot com. Your June 2 SHB financials retirement road map show where your route to his successful retirement again. It's called BS HP team anytime at 1802277777. Or visit them online at SHB financial Don come now here's your host Gerri great. She's jealous. So we talked a lot about different areas of your retirement today and hopefully some tips and ideas that can help save you money. And build an overall much better holistic plan for you. When he retired now are you within five to ten years away as we do each and every week we wanna leaves you with kind of our top three takeaways from today's show some keys listeners heard the whole show hopefully maybe they just tuning in now which is number one take away. Well in the show we talk quite a bit a boat you know our full process having inning complainant had an investment plan attacks plan health care plan. And finally a legacy plan party your ass its transition to the most effectively to the next generation from a tax standpoint. You know Stanley harmony standpoint kinda soup to nuts. Most people out there you know when they're dealing with a an advisor that advises just focusing on. The investment strategy you know how much money can they make in the market so on and so forth. As year a state starts to build their eyes your you know overall. As you closer and closer retirement you need someone that's looking at all five of these things so. If you are paying someone to help you and give you investment advice a broker or an investment advisor. To make sure you getting holistic advice not just focusing on one thing a one trick pony I guess. I agree it's a fielding a team. But the baseball team without a shortstop and I'll feel than a third baseman you have part of that team put together but you're not you have a full team or what I call full. Plant and also make sure they. They're not just focusing on annuity unity mean like someone just trying to cram an annuity and you throw. You want someone they can handle everything in that what we wish doesn't say anything I think my take away really builds off of that because the numbers that people need to be aware of when it comes to the Massachusetts estate tax is that the first one is that it goes up to 16%. So technically is up to 16% of an individual's. A state can can be used there can be you know that check could be written to the deal our department of revenue and then secondly now they do protect up to a million dollars million dollars exemption but if you exceed ten million dollars they make it retroactive back to dollar wind so it goes back to a Keith was mentioning the fact that. If you don't have that holistic plan if you don't have someone as looking at all these different. Aspects to attacks health care legacy etc. Then Europe potentially leaving hundreds of thousands of dollars on the table that don't care how good an investment advice you get asked this is the advice you need. Yes what is that Thomas Beattie now it's king today and bring into mess and bring him like you build a house give a foundation. And that's he just stop there Muni walls unit grew if you need you know yeah very thing that's and that's how it is to have an invest and plan. But do not tying everything together financially to your state plan. From health care standpoint you know looking at everything it's not set it and forget it folks it's a continual process of reviewing and updating. To make sure that you're on track going forward is so that's that's a redo it SHP financial I wanna be quick here remind. Back to the grocery store we talked about an example people spend more time shopping in saving money when they go shopping than they do looking at the funds that they don't. When you may be saving thirty to fifty dollars a month by taking time to check all bargains when you're shopping. I declined come in last month two million dollars they're paying them 60000 dollars in fees folks. So whatever it is you know you're doing at least have your X year card they're grossly Karim mutual fund car. Have this skiing and to know exactly we are paying so we off we're gonna offer a complementary review to arrest the analysis on your portfolio. As woes and and and additional starting point two year old draw retire roadmap. The number to book that consultation caller right now it's 802. Q 77777. We've been appointments available over the next three weeks just for you the listener 800 GT 77777. Or you can always go to our website SHP financial dot com have a great week folks look forward to talking again next week right here in the retirement road map radio show brought to you by SHP funny. Two when choosing a financial advisor to manager investments it's important to note the advisors being held to fiduciary standards. This is Matthew pack co-founder of SHP financial and other working with families for over a decade helping them plan for retirement. Investment advisors who are bound to fiduciary standards are regulated by the SEC and state security regulators. And they're required to please the client's interest above their own. Brokers who are fiduciary or not held to these high standards and their first responsibility is to their own firm. It's our priority to make sure your interest come first every step of the way. Call a sixty financial today to schedule complimentary consultation. In discover the fiduciary difference during your first appointment you receive a stress test in the analysis of your investment portfolio at no charge. Call 1802277777. That's 1802277777. Or visit SHP financial. Dot com when you're building a home you need more than just four walls. You need a roof. You need a foundation without these things your home would be incomplete the same can be said for your retirement planning. Hi this is Keith Ellis co-founder of SHP financial if your financial advisor is only looking at your investment portfolio. It's like having a 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 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. 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 it. Call 800 QQ 77777. That's 802277777. Our request or appointment online SHP financial dot com.