0:00

Mutual funds used to be a beautiful concept. Any investor could invest and gain

0:05

access to professional portfolio management. Times have changed. Maybe your investment habits should

0:12

too. Whether you're retired, approaching retirement, or haven't even thought about it,

0:17

now is the time to get protection from market volatility and excessive fee structure

0:21

called Trip Limehouse with Limehouse Financial at eight hundred nine four zero six nine seven

0:27

nine, or text Trip that's tripp to eight hundred nine four zero six nine

0:34

seven nine. Again, you can call or text Trip at eight hundred nine

0:38

four zero six' nine seven nine. Information provided is for illustrated purposes only

0:45

and does not constitute investment, tax or legal advice. Information has been obtained

0:49

from sources that are deemed to be reliable, but their accuracy and completeness cannot

0:52

be guaranteed. Neither Trip Limehouse nor his guests are liable for the usage of

0:56

information discussed. Always consultable the qualified investment, legal or tax professional before taking

1:00

any action. Hey, welcome in everyone. This is the road to retirement

1:03

with Trip lime House. I'm Steve so No, We've got a big show

1:07

planned for you. In fact, this first segment's gonna be fun we're talking

1:10

about really starting your retirement journey when you're in your fifties, and we've got

1:15

some things that you can consider. And just because you're in your fifties doesn't

1:19

mean that it's too late to start saving for retirement. Trip Limehouse is gonna

1:22

fill us in on all those details and so much more. Trip What do

1:26

you think? I think it's never too late. Hey, fifty is the

1:30

new I don't know, twenty five, I don't know if I go.

1:34

Folks, stay maybe it's a little mud but oh for real, let stay

1:38

tuned because we do have a great couple of segments coming up on The Road

1:42

Retirement Show. We're going to talk about in your fifties what you could be

1:45

doing just to make sure that that next part of your life is gonna be

1:49

the way you want it. Fantastic. Do you want to avoid taking a

1:53

wrong turn on your retirement road? The road to retirement is a long one,

1:57

and if you just don't want to, well, buckle up. We're

2:01

getting ready to take a retirement road trip together. It's the road to retirement.

2:07

With Trip Limehouse. It's the perfect amound to map it out. That

2:10

road to retirement is key, is key, to get on the road to

2:15

financial security and independence. Just like many of Trip's happy clients and retirement partners.

2:21

My money is safe using the green line principle that you taught me about.

2:24

Thank you so much. Let's get this trip started. It's the road

2:30

to retirement with Trip Limehouse. Hey, welcome in everyone. This is the

2:37

road in retirement with Trip Limehouse. I'm steveing off Trip of course, the

2:39

guy behind the green line principle, and he's been helping folks getting to and

2:44

through retirement for more than twenty years. Find him at limehouse Financial dot com,

2:50

limehouse Financial dot com, Trip House Things. It might be finding me

2:53

on the lake these days. The weather is getting nice. Yeah, I'm

2:57

all for I am getting out there cruising around. So talk about the dogs

3:00

from in and Fozzy and Daisy are golden doodle and labradoodle. I tell you

3:05

what, like kids, this complete opposite personality. So we're on the boat.

3:08

Fozzy just like let me jump in, let me jump in. He

3:10

jumps off, swims swims. I mean you can barely get him back on

3:14

the boat. Uh. And then we gotta uh, we gotta get Daisy

3:17

to like come on, you know, we got a coaxer, come on,

3:21

get in the water, and then she'll swim a little bit like put

3:23

me back in the boat. So funny. But it's that time of year, you know, getting out there having fun before it gets too hot really

3:29

and and just relaxing. But you know, this is a hot topic right now. I think I'm talking to people, uh I mean really of all

3:36

ages about retirement, but narrowing it down this next couple of segments to people

3:40

maybe in their fifties and and you know what they can be doing. I

3:45

think that there's a that's probably a decade of in the in years where people

3:51

start really kind of thinking more about Okay, oh yeah, I'm getting I'm

3:53

getting closer, and I don't want to be uh behind, And maybe they

4:00

all already are and they're wondering what can they do to catch up? Well,

4:03

I think that's more of the case. And I do think there's a lot of folks in their early fifties that are struggling here. And they're not

4:10

struggling because they don't have the money. They're struggling because they don't know where

4:13

to go. And that's where you come in. You can walk us through that process. Well, I think embarking on a retirement savings playing in a

4:21

person's fifties. It might seem like a too late to do it, but

4:26

really it's not, you know, I mean, life just kind of leads

4:29

us there, and that's the scenario of people are in and that's okay.

4:32

So speaking of catchups, let's talk about you know, people who are fifty

4:40

and over and what they can do. And there's an increased contribution limit associated

4:46

with those who hit age fifty and are older, so it's pretty important to

4:51

bring that up up. People over fifty can make catch up contributions to retirement

4:57

accounts and that is permitted by the IRS. I laugh when I say that,

5:03

because this whole retirement thing, tax deferred retirement thing, a lot of

5:09

people forget that they have a partner in their retirement account with them and it

5:14

is the IRS. That's why I always talk about on the show how your

5:17

IRA really is an IOU to the IRS. But I know you guys out

5:21

there were paying close attention to what I just mentioned about the catch up provisions

5:26

that are permitted by the IRS. Well, you see, they're the ones

5:30

that tell you, hey, here's how much you can put in this thing and they're also the ones that tell you, hey, here's when you have

5:34

to start taking out of this thing. And they're also the ones that you

5:39

are paying the taxes to when you make withdrawals from these things. So but

5:44

nevertheless, catch up contributions do enable higher contributions to a four to one case

5:49

Steve, or to an IRA, you know, compared to younger people.

5:54

So I think that's important. And also I think it's important for people to

5:57

utilize the limits. I think that if there's been a lack of savings in

6:00

the past, you know, they're raising the kids, they have some more

6:04

debt, all that stuff is behind them. Now that they can save more,

6:09

these new limits, these higher limits, they can substantially enhance retirement savings

6:15

within a shorter timeframe. But I will just circle back to something people hearing

6:17

me say often on the show. We need to just be careful about how

6:21

much we are placing in a tax defer retirement account. And that's a key

6:27

point as well, you know, Steve, we're talking about all the time

6:30

people think they have a plan, but they don't. They just have an

6:34

account. You know, I don't know, folks, So I think about

6:38

that, ask that to yourself right now as you're listening, do do you

6:41

do you really have do you have a plan or do you just have an

6:43

account? I mean, if you're thinking you're a four one K or TSP

6:46

or four or three B or your IRA is you know a plan, but

6:53

you don't actually have a written plan for retirement put together for you by an

6:59

expert in this area such as myself, then you know you're probably not going

7:02

to be doing as well as you could be doing having a plan. So

7:05

an account is just a place where money is located. A plan is something

7:10

that's going to get you where you want to go and keep you there.

7:13

Eight hundred nine four zero six nine seventy nine. As I'm speaking about a

7:17

written plan for retirement right now, for those of you that do not have

7:21

one, take advantage of this offer that I'm putting out there and call me

7:26

and asked me for it. I'll build you a written plan for retirement.

7:30

So I think that's a big thing STIFA. So people, you know, starting in their fifties, they just need to be aware of that there are

7:35

increased contribution limits. And the thing is is with a four oh one K,

7:40

in particular with the with the catchup you can contribute up to thirty thousand

7:45

dollars in your four oh one K. And imagine this if it were a

7:49

WROTH four a one K and you had thirty thousand dollars. Oh my gosh,

7:55

that is a ticket that can get you to retirement. Yeah, because

7:58

the difference is on the Roth side is that it goes in after tax,

8:01

but it grows tax free, and it comes out tax free and it passes

8:07

on tax free. So raw ir are fantastic a WRAW for one k's or

8:11

just I mean yeah, and more we're seeing more and more employers starting to

8:15

offer the WRAW for one cas too, so shifting gears. How about potentially

8:20

someone in their fifties considering an aggressive investment stress? Well, see that makes

8:24

perfect sense. It's like going to Vegas. I got to risk at all,

8:28

I got to make it up. But that really is not a safe

8:30

way to go. Well, I think that, you know, we talk

8:33

about risk all the time here on the Road your Retirement show, and how

8:37

we incorporate that into the planning process. We believe that people need to have

8:41

money at risk, but there is only a certain amount that should be you

8:45

know, allocated towards risk and the rest should be in a safe money strategy,

8:50

such as the green line principle. You know that's a zero is your

8:54

hero. You cannot go backwards. You have a lot of upside potential.

8:58

So the deal is, if a you know, a person has a plan

9:01

built by us, we're going to incorporate that into it and have money at

9:03

risk kind of all happening at the same time. So the green line principal

9:07

strategy where a person can't lose money, will allow the you know person to

9:13

invest more aggressively because if they do lose, they know, well, hey,

9:18

I've got this other part of my plan where i can't lose. So but realistically, you know, an aggressive investment strategy could be good for people

9:24

starting late, I mean starting retirement savings later. It just it really could

9:30

require more aggressive investment approach, you know, comparing to people who maybe started

9:33

in their twenties or thirty. So risk your assets though, here's the deal.

9:37

They offer a potential for a higher return, of course, but guess

9:39

what comes along with it increased volatility. You know. The offer right now

9:43

is for those of you out there, and you may be in your fifties,

9:46

you may be in your sixties, wherever you are, but you might just feel a little kind of behind in your planning. Well, just give

9:54

us a call right now. This is for the next ten callers in the

9:56

next ten minutes. It's called the catch up Plan. Will build it you,

10:00

will show you how to maybe make up for lost time, bad decisions

10:03

that have happened in the past. We're going to build you an individualized,

10:05

customized retirement plan to make sure you get to where you want to go and

10:11

help you stay there and be in control throughout retirement. Eight hundred and nine

10:15

four zero sixty nine seven nine sounds great. Trip a goal at the show

10:18

helping you make those decisions. And if you have any questions about what we're

10:22

talking about how it applies in your own situation, now's the time to give

10:26

Trip a call. Eight hundred ninety four zero sixty nine seven nine. Eight

10:28

hundred ninety four zero sixty nine seventy nine. All right, folks, we've

10:33

just been talking about retiring, and if you've started late, maybe you're in

10:37

your fifties now and you're wondering what can you do, just so to speak,

10:41

catch up so that you can't exit successfully on this road retirement journey in

10:45

the coming years, we're going to get into that and a lot more coming

10:48

up on this next segment of The Road Retirement Show. Getting the right retirement

10:52

strategy suited to your unique needs and desires is called hitting the bulls eye.

10:58

You can say I nailed it, you actually should say we nailed it because

11:03

there's a firm right there with you putting together the pieces of your own retirement

11:07

puzzle. It's a bulls eye plan for you called Trip Limehouse, host of

11:11

Road to Retirement eight hundred nine four zero six nine seven nine, or text

11:16

Trip tripp to eight hundred nine four zero six nine seven nine. We've made

11:20

it easy for you to take advantage of this fantastic offer. All you have

11:24

to do is call her text trip to eight hundred nine four zero six nine

11:28

seven nine. We're back on the road to retirement with Trip Limehouse. I'm

11:35

Steve said all of that have been a good conversation. Again, getting started

11:39

saving for retirement in your fifties is not is not the you know, it's

11:43

not ideal, but it's not bad. And I do think for a lot

11:46

of people in their fifties that's that's really when they start thinking about it and

11:50

start to realize, Okay, well, now you know the kids are gone.

11:54

No, they're not coming back, and the kids are married, they're

11:58

not coming back, So let's put some more into our retirement plans. Yeah,

12:01

or maybe the kids are still around and you're like, okay, time

12:05

to start paying a little risk hit the road, Jack. Yeah, all

12:09

three of our girls are home right now. Megan, Alison, and Cameron.

12:15

Love you girls so much. All are awesome. It's fun having them

12:18

around, but in they're you know, very self sufficient, but you know,

12:20

not quite out of there yet. That's fine, you know, it

12:24

makes me happy they're all all around each other. But I want our listening

12:28

audience to know that, you know, I if you're in your fifties and

12:31

you're just starting to think about this stuff now, or you've probably been thinking

12:33

about it for a while, but maybe you're like more serious, like you

12:37

you recognize your ability to to maybe move the ball forward more now than you

12:41

know five or ten years ago. I want you to know I can totally

12:45

relate to that, because you know, I just turned fifty this year,

12:48

and you know, Amy and I have always saved, but now we're just

12:52

starting to really you know, feel like we're getting more traction, and I do believe it is because the girls are older and it's just a different time

12:58

in life. So you know our first segment. If you missed it,

13:01

folks, you can go back and listen to it on Apple, iHeart Radio

13:07

or Spotify, Google. Just type in the road to a retirement show with

13:11

Limehouse Financial will pop right up and you can listen to it. But we

13:16

did talk about the ability for you to put more money away if you're fifty

13:20

year older and tax defer retirement account. And then we talked about potentially you

13:26

being a little more aggressive with your investment strategy. And on that note,

13:30

I will mention the green line principle. Right now, that's a safe money

13:33

strategy. Zero is your hero. You cannot go backwards. Lots of upside

13:37

potential. But you know, it is so imperative to have a part of

13:43

your plan in a place where you just can't go backwards because you've worked so

13:48

hard to accomplish these goals so far. So let's make sure we're preserving and

13:52

protecting a good portion of your assets by using the green line principle. Ask

13:56

us about that. So now we're going to get into a couple other things.

14:01

You know, we just know that this is kind of where life leads

14:05

us. And not everybody, but for a lot of people, there is

14:07

a shorter time now for compound interest. I mean it's just we don't have,

14:13

you know, maybe twenty years. Unless somebody's fifteen to retire at seventy,

14:16

you know, right then might then they might have twenty years. The

14:20

whole thing with compound interest, Steve is I mean early savings, harness the

14:24

power of compound interest, you know, I mean that's where earnings generate further

14:30

earnings, right exactly. Well, and again primis behind it. And if

14:33

we're just kind of getting started to saving in our fifties and planning for retirement

14:37

and actually putting a plan together, one of the things that has to be

14:41

discussed is, well, when do you want to retire? You may have

14:45

to work a little bit longer in order to make this happen. Absolutely,

14:48

And that's a big thing too, is people come to see us and they're

14:52

like, I just maybe I've been thinking about this particular age I would like to retire, but I'm not quite sure if I can at that point in

14:58

time. And when they go through our process here at Limehouse Financial, we're

15:03

able to help them identify exactly when they can retire and what it's going to

15:07

look like. And we're looking for three keywords and a result. The three

15:13

keywords are what is a person's retirement success rate and expressed in the form of

15:22

a percentage. Is there an eighty five percent chance that you're going to have

15:26

a successful retirement following this plan or is there one hundred percent chance or whatever?

15:31

And if that retirement success rate is less than a certain number, we're

15:33

going to have to tell somebody you're going to need to work longer. But

15:37

sometimes it's better than people would think it would be. Or maybe they've never

15:41

heard of a retirement success rate because they're fixated on a rate of return or

15:45

a yield or something like that, or just so fixated on money or how

15:50

much they have or maybe don't have, you know, but that whole retirement

15:54

success rate is key for people to know what we're just talking about, can

15:56

they retire and when can they retire? But back to the compound interesting,

16:00

I mean, if persons starts saving in their fifties, it definitely is going

16:03

to allow less time for compound interest to accrue. And as to your point,

16:08

you just made that it might make people have to work longer or put

16:15

in larger sums of money to achieve a similar balance versus starting you know,

16:19

ten, fifteen, twenty years ago. So compound interest is a big deal

16:23

and can make a big difference in your retirement folks. Eight hundred and nine

16:27

four zero six nine seven nine is our number. We love your calls.

16:30

I want to give a shout out to all my regular listeners. You guys

16:34

are awesome. We just did an event not too long ago and I had

16:38

like five people back to back that came into the event and said, yeah,

16:42

I listened on the radio all the time, and a couple of them

16:45

even said they watched us on TV on Saturday mornings at WIS Channel ten at

16:49

six thirty am, the Road to Retirement TV show. Folks, check that

16:53

out. But we're thankful to be on the radio spending time with you guys,

16:56

and we really appreciate our long time listeners, and if you're new to

17:02

the show, welcome in keep tuning in. Our audience in the last four

17:04

years has significantly grown and people are really wanting to work with an expert like

17:10

myself that can help them put all this together. In a customized way,

17:17

in the form of a written plan that's going to show them exactly what they

17:22

need to do to get to where they want to go. So but speaking

17:25

of you know, some people maybe having to work a little longer, I think that there's this whole thing about a retirement age reassessment that potentially could need

17:33

to be done. Sure, well, that's what I mean. If you

17:36

if you're in your fifties, it's time and you believe that you were going

17:40

to retire it i'd say sixty five, Well you may have to rethink that

17:44

maybe it's going to be sixty seven, maybe it's going to be seventy.

17:47

And sometimes you know, things can change that as well. You know, maybe there's a new job, a person has higher income. Maybe it's a

17:53

new job and they have less income, and that happens as well. Maybe

17:56

somebody gets an inheritance. I mean, there's all kinds of things that can

18:00

and win falls, whatever. But you know, for that retirement age reassessment,

18:03

I guess you know, when you're beginning to really save in your fifties,

18:06

it really probably does rewarrant the reassessing of the traditional retirement age of sixty

18:11

five. And for some reason. That's just you know, kind of what people target, probably because that's when they're eligible for Medicare. But you know,

18:18

delaying retirement by a few years, folks, it really could enhance your

18:21

savings and it could provide investments with more time to grow. So I want

18:25

to mention to our audience out there, we're having two live events coming up.

18:27

I'd like to invite you to those. We're having one coming up very

18:32

quick, May the first. It's going to be at the Lexington County Public Library six pm Wednesday, May the first Social Security and Income Planning Workshop.

18:40

We'd love to have you there. Also, we're having one on Saturday,

18:44

May the eleventh, nine thirty am the Lexington Chamber of Commerce. This is

18:48

a breakfast event. We will serve you breakfast, no charge, no obligation,

18:53

and we're going to get into the topic of social security and income planning

18:57

as well. If you'd like to attend that event, give me a call

19:00

eight hundred nine four zero six nine seventy nine. And as always, you

19:03

guys can visit our website limehouse financial dot com and look under the events tab

19:08

and check out when we're gonna be hosting an event where it is. We'd

19:12

love to have you there, So all right, Well, we're gonna wind

19:15

down this segment. We're gonna come back with a couple more things on retiring

19:18

in your fifties and what you need to be doing. Folks. There's no

19:22

cost, there's no obligation to help you get a better handle on your financial

19:26

situation. Find out what your investments are really costing you because of maybe high

19:30

fees or commissions. What about future tax implications and generating a secure income from

19:34

your retirement savings once you do move into retirement. Eight hundred nine four zero

19:38

sixty nine seven nine eight hundred nine four zero six nine seven nine. When

19:42

we come back, we're gonna dive into some low risk investments that can potentially

19:47

help you build retirement income. If you remember these TV shows you're getting ready

19:59

to retire. Where I see a big pair of feet there, of cheesy

20:02

mustache, I'll think of you, you guts well, I hate I'm one

20:07

guy who ain't prejudice against anybody who may be less sipiated than me. It

20:14

kind of sneaks up on you, doesn't it. Oh geez, you deserve

20:18

a secure, independent retirement, our retirement that is prepared to handle pitfalls like

20:25

inflation, health emergencies, stock market volatility, and taxation. You've worked hard

20:32

for your money and will work just as hard to protect it and grow it.

20:37

Retirement planning doesn't have to be difficult. Get the facts based approach that

20:44

you deserve all at no cost, with no obligation. Call the Road to

20:48

Retirements Trip Limehouse eight hundred nine four zero sixty nine seventy nine or text trip

20:55

to eight hundred nine four zero six nine seventy nine. We're back on the

21:02

road to retirement with Trip Limehouse. How about a nice drive today. It's

21:04

beautiful out there, Gwynd blowing and everything is looking good because we're working with

21:11

Tripp and we're on that smooth road. We've got no detours, no bumps,

21:15

no nothing except smooth road. Right. Well, that's because we're helping

21:21

you guys out there avoid those wrong turns on the road to retirement that can

21:26

lead to a dead end. And very valuable what we're doing, and we're

21:30

having fun doing that. You know, we just met with a client and

21:34

an annual review and she just expressed her gratitude for the work that we have

21:41

done for her and continue to do for her. And she said she her

21:45

words were, I just don't know where I'd be without you. You know.

21:49

She came in not too long ago, and just you know, she

21:53

didn't know if she could retire, when she could retire, how she could

21:56

retire, what it would look like. She attended one of these events that

22:00

we keep talking about all the time, which, by the way, folks,

22:02

we've got one coming up Wednesday, May the first, at six pm

22:07

at the Lexington County Public Library social Security and Income Planning Workshop, and then

22:11

again on Saturday, May the eleventh. This is a breakfast event and we'll

22:17

serve you breakfast and the topic will be social security and income Planning at the

22:22

lex And Chamber of Commerce Saturday, May the eleventh, nine thirty am.

22:26

Give me a call if you want to attend that. Eight hundred nine four

22:30

zero six nine seven nine. But she had attend on one of these events,

22:33

Steve, and she's like, all this stuff you're talking about just makes

22:36

so much sense. I need help. And interestingly enough, this particular person

22:41

had been to three other advisors in our area and a couple of other events

22:48

in our area as well, and she complimented our events that it was unlike

22:52

any event she'd ever been to before, very well rounded, the subject matter

22:56

was just incredible. And then she came in and you know, went through

23:00

our process with us and said, hey, you guys are clearly you are

23:04

different and how you treat people, and I'm sure the end result will be

23:08

different as well. I think we brought on as a client. So here

23:11

we are a year later, you know, doing her review with her and

23:15

she's just you know, expressing the gratitude and just very said, you know,

23:18

she said, the feeling is still the same as it was from day

23:22

one. I'm just so comfortable working with Jonathan and working with you and knowing

23:26

where I'm going. So, folks, if that sounds appealing to you,

23:30

which for everybody out there, should just call in eight hundred and nine four

23:33

zero six nine seven nine and ask for an appointment with us. We'll give

23:40

that to you. We're very gracious with their time. We care about people, want to want to help you get there and stay there. So low

23:47

risk investments, I mean, is there such a things to you? Well, I think there's lower risk and there's you know, more safety, but

23:55

I don't know, not not really, I guess. But let's talk about

23:59

real estate. And that is something that can be a big deal. And

24:02

I know you're a fan, Oh yeah, I like real estate. I

24:04

think the thing is that the older we get, the less risk we should

24:08

have in our overall portfolios. So that's kind of why we wanted to talk

24:12

about some lower risk, low risk investments that potentially can help people out there

24:18

boost their income. In real estate is one of those. I mean,

24:21

think about this. When you're renting out real estate, it's going to generate

24:26

cash flow for retirement. Now, you know, if you have a mortgage

24:30

associated with it, it's gonna be less cash flow, but hopefully still some

24:33

there. But we have a lot of clients and you know, maybe they've

24:37

upgraded from the house they lived in when they first got married to a newer

24:41

house and they you know, rent the first one out or whatever, and

24:45

it's just all positive cash flow. So cash flow from real estate can be

24:49

fantastic. And we do feel like it's on the lower end of the risk

24:55

spectrum because you know, it's physical rights, it's a property, and they

25:00

typically we'll appreciate on an ongoing basis all the time, right, I mean,

25:04

real estate does offer a viable option for retirement income for people out there,

25:07

Steve, especially those that are capable of managing their own property. I

25:12

mean, there's always hiring a management company. But well, I mean there

25:17

there are other ways. I mean, if that sounds like too much work, I mean, there are other ways to invest in real estate. There's

25:22

something called a real estate investment trust, which is a way that you can

25:26

get into real estate sort of as a group. Yeah, that's right,

25:30

and and and and some of the portfolios that our investment advisor, Jonathan O'Reilly,

25:34

uh you know, recommends the people that they have real real estate in

25:38

there or riats in there. And it does give people an opportunity to participate

25:45

in real estate, but not directly, I guess, not like owning.

25:48

They don't have the key to the front door kind of a thing, you

25:52

know. So, but I guess overall, that is just one avenue to

25:56

consider, folks. Is you know, if it appeals to you, maybe

25:59

you're you know, somebody that really likes to fix things. Uh, you

26:02

know, you're doing yourselfer, So for you to have a property and handle

26:07

the maintenance and collect the rent and all that kind of stuff, maybe it

26:10

could really work. Well. So the bottom line, I guess what the

26:12

real estate is that it can be a great way to generate additional retirement income.

26:18

Now there's this new thing that's come around. It's really not new,

26:22

but here recently it's it's been newer. And that's a a heisa haisa.

26:29

What is that? Yeah, it's it's something I made up. It's a

26:36

high yield savings that can Okay, all right, h y essay. It

26:41

just you know, sounds more fun to say haisai. Yeah, that's what you folks. You do to go to your bank and say do you have

26:45

a haisa for me? And they'll be like what exactly? So, I

26:48

mean tell me where and how does that work? And why is that a

26:53

better thing than than saving someplace else? I mean we're talking for like an

26:57

emergency fund. Yeah, so there's you know, there's a lot of people

27:00

right now just there, if you want to call it, parking cash and

27:04

just kind of holding more back than normal, not necessarily putting it into portfolio

27:08

or into you know, the sort of investment. So they just want to

27:11

have it in the bank. Uh. So, you know, savings accounts

27:15

typically, you know, they're going to be considered one of the simplest and

27:18

safest investment options for people out there, and in a traditional brick and mortar

27:22

bank, they're going to offer the lower interest rates on these savings accounts.

27:27

So the key for the HAISA high yield savings account is going to be look

27:32

at online banks, folks. Uh, they're equally secure, ensured by the

27:37

fdi C. They're going to give you higher interest rates due to lower operational

27:41

costs, so you know, and then you can do things like transferring between

27:45

checking and savings that can be done manually or electronically. You know, even

27:48

if it's a different bank, it'll just happen pretty quickly. So investing in

27:52

a savings account is definitely a low risk option that's suitable for short term financial

27:57

goals or emergency funds. Now a hot topic with people in our office right

28:00

now who come to see us, and you know, we're just sharing with

28:04

them. Don't let the government control what's going to be happening with your retirement

28:08

long term because these high yield savings accounts they are out there now. But

28:15

overall, what people really need, Steve, is just a plan, and

28:18

I know we talk about that all the time. A written plan for retirement,

28:22

something that maps out their social security shows them how to get the most

28:26

out of it, something that takes into account taxation, inflation, healthcare,

28:30

lifestyle goals, all those things. I mean, you know, when we

28:34

build people a comprehensive written plan for retirement and encompasses what I just mentioned and

28:40

a whole lot more, folks. That's the offer right now is a written

28:44

plan for retirement eight hundred and nine for zero six nine seventy nine. Next

28:48

seven callers in the next seven minutes will get a complimentary, no cost obligation

28:53

written planned for retirement, customized just for you, eight hundred ninety four zero

29:00

sixty nine seven nine. It's eight hundred ninety four zero sixty nine seventy nine.

29:03

Having a secure retirement takes planning and time. When we come back,

29:07

we're gonna outline many ways that you can help ensure you're gonna have the retirement

29:12

or celebrating. Oh yeah, here we go. This is such a blow

29:22

to invest do it right now. We're waiting the most exod It takes courage

29:29

to face up to things like volatile markets and Wall Street money traps. If

29:33

you're unsure, worried, or losing sleep about your money, do something about

29:37

it. Call trip Limehouse, host of Road to Retirement eight hundred nine four

29:41

zero six nine seven nine or text Trip tripp to eight hundred nine four zero

29:47

six nine seven nine. We've made it easy for you to take advantage of

29:49

this fantastic offer. All you have to do is call our text Trip to

29:52

eight hundred nine four zero six nine seven nine. We're back on the to

30:00

retirement with Trip Limehouse some steps. So all Trips have been in this business

30:03

helping folks getting to and through retirement for more than twenty years. Really more

30:07

than that, he's been a teacher, helping folks understand and learn about how

30:11

to plan for retirement and help folks get there. I mean, Trip and

30:15

his team are certainly well rounded folks in terms of being independent fiduciary advisory firm,

30:22

which is what you are, Trip correct. Absolutely. You know,

30:26

we only make recommendations for those that we see that are in their best interest.

30:30

And of course we do that because we function from a fiduciary capacity.

30:34

Very important for folks out there to understand that. But I also like to

30:38

point out that you know it's named Limehouse Financial for a reason. That's me

30:42

Trip Limehouse. But we are independent and we're brokers. So it's nice because

30:48

when people come in Steve, they know because we share with them, we

30:52

educate them to this fact that we're not limited, tied to, obligated to

30:56

any one particular company, product, strategy, or whatever. Our job simply

31:00

is to understand people, learn more about them, where they are, and

31:06

what they've done up to this point, and then from there, you know,

31:10

share with them how we can put all that together in what we call

31:14

the retirement roadmap, so that they can you know, follow a plan,

31:18

have a plan, follow a plan to be successful during retirement. Very exciting

31:22

for us on our end to be able to do that over and over and

31:25

over again. And you know, there's a lot of handshaking and hugs that

31:30

occur here at Limehouse Financial, And for anybody out there that knows me,

31:36

I definitely am a hugger, so I welcome those. But you know, these are these are a lot of positive emotions that we experience here with our

31:42

clients at Limehouse Financial. And it's you know, when we implement a plan,

31:48

that happens, and then when we're monitoring a plan and seeing people succeed,

31:53

that happens, and you know, it's great. So even when the

31:57

market is not doing well, our clients still, you know, value the

32:01

relationship they have with us, and they're thankful that they implemented the plan.

32:07

I think the reason for that is because most people that come to see us,

32:12

they they're not implementing and they haven't ever heard of the green line principle.

32:16

They're only relying on the market to determine what happens in their retirement account.

32:22

And that's a problem as well. They don't have a plan. They

32:24

just have an account. Folks. There is a difference between an account and

32:28

a plan. But when when we you know, go through our process with

32:31

them and we build them an individualized, customized plan and we include that green

32:37

line principle safe money strategy where zero is your hero, can't lose a lot

32:42

of upside potential. Folks. You need, you really really need to be

32:45

understanding the green line principle, not only understanding it, but putting it into

32:51

into your and part of your plan. You know, that's it's just so

32:54

necessary because you can't lose. But our clients, you know, even when

32:58

the market is downsteed, they're still they have this comfort level. Hey,

33:01

I'm okay because I have this part of my plan that trip helped me with,

33:07

that Jonathan helped me with, and I can't go backwards. You know

33:10

sure that that means a lot for people. You know what else means a

33:14

lot for people, these consistent events that we do month in, month out,

33:17

And I want to let everybody know right now about a couple we have

33:21

coming up. Pay close attention, folks. This is your opportunity to meet

33:23

us in person and to really learn more about things that matter regarding your retirement,

33:31

where you're going and what it's going to look like. So Wednesday,

33:36

May the first, six pm, we're going to have a Social Security and

33:39

Income Planning workshop. We'd love to have you there. It's at the Lexington

33:43

County Public Library at six pm. And then also a little bit after that,

33:50

on Saturday, May the eleventh, we're going to have a Social Security

33:55

and Income Planning workshop at nine to thirty am at the Chamber of Commerce in

34:00

Lexington and we're going to serve breakfast at that event. So it's a no

34:05

cost and obligation breakfast served event and a lot of great information to go along

34:10

with it too, regarding social security and income planning. So for either one

34:15

of those, if you'd like to attend. You must call eight hundred nine

34:19

four zero six nine seven nine and let us know that you want to intend,

34:23

so we can, you know, put you on the ross or so. Now, going back to this whole planning thing, you know, and

34:30

having a secure retirement, I feel like that's a pretty big priority for most

34:34

people out there, I think, so. Well, yeah, so I'll

34:36

tell you a story. So I was with my granddaughter, two granddaughters here

34:40

over the weekend, and one of them is twenty pretty much he's twenty one,

34:45

I would say, she's twenty one. She works in healthcare, she says to We're sitting just having a conversation, and out of the blue,

34:51

she said, oh I got paid. Oh well good. So then she's looking at her you know, her check stub for lack of a better word,

34:57

and she goes, I hate my IRA. I said, you hate

35:00

your IRA. Well, it's just money. I see this money sitting there.

35:05

That's my money, and I want it. I can't have it,

35:07

she said. And then my dad made me still open a wroth. I

35:10

said, your dad's a very smart man. Well, you know, the

35:17

younger the better, I mean, oh yeah, talking about that, I

35:20

think on the first segment of today's show. Well, think about it at twenty one, if you putting, if you pound interest, yeah, I

35:25

mean, if you're if you're funding a wroth from the time you're twenty one

35:29

in a Holy Cow, I said you're going to retire a millionaire. Oh

35:32

yeah, and well that kind of got her to perk up a little bit.

35:37

Ye. Well, it's that instant gratification that the human being dislikes.

35:42

Well, and a twenty one year old les yeah, yeah, I can

35:45

relate to that. I mean at fifty, I'm still like, m yeah,

35:49

oh, I think it's important to maximize retirement savings. I mean,

35:52

saving early in a person's career is definitely going to enhance their chances of a

35:57

secure retirement. Sure, absolutely, Well, and again we talk about maximizing

36:01

those savings, and we talked about this in the first segment. You know,

36:05

maximizing from fifty and over. You've got the catch up contributions. There's

36:08

a lot of different ways to save. If your employer doesn't offer a four

36:13

oh one K, that's okay, you can open an IRA trip can help you do that. Yeah, we do that often for people. We just

36:19

the tax deadline recently passed but prior to that, people were coming in before

36:22

four fifteen and opening iras with us and funding those. I mean, you

36:28

know, that's a whole other thing when you talk about maximizing retirement savings,

36:31

is you can maximize tax savings by utilizing those retirement accounts when possible. And

36:37

folks, your first order should be to take advantage of an employer sponsored retirement

36:44

savings account that'd be a four to one K four fifty seven four h three

36:49

b TSP, that type of thing. Whenever they're offering you a match that's

36:52

basically free money, take it full advantage of it. So and then after

36:57

that, you know, you could consider funding a traditional IRA a you know,

37:00

on your own, and then you know, if eligible, as we

37:05

were just talking about, maybe a rowth IRA, you could do that with

37:07

some after tax funds. You know. It just it's just important to the

37:15

best of your ability to maximize your retirement savings. Now, shifting gears from

37:22

saving UH to maybe spending in payments, I think that's important to talk about.

37:27

And sure, you know, I mean, these are really kind of

37:30

ways that we feel like folks out there can have a retirement word celebrating,

37:35

and one of those is just by. As we were just talking about maximizing

37:39

retirement savings. The next one is reducing payment obligations. Imagine how good that

37:45

would feel, right, yeah, no kidding, Just getting rid of the debt. That's such as such a powerful thing to watch that debt go down,

37:51

down, down and then gone. Well, I think that reducing payments.

37:55

You know, at any time in your life, any obligations you have

37:59

to pay for something, it's going to create financial security. And for most

38:04

people that's you know, a pretty high priority. It really is. Debt

38:07

definitely can facilitate acquiring education or you know, a home, cars, things

38:15

like that, but carrying debt into retirement it does burden the finances. So

38:21

just folks, I want to encourage you to prioritize using your retirement savings for

38:25

living expenses, living expenses rather than paying off debts in retirement. Okay,

38:31

So just you know, kind of work on that as you're continuing to move

38:36

forward in this journey. And you know, start with you know, the

38:39

smaller if you have got a couple of charge cars, credit cards are starting

38:43

the smaller ones. Kind of pay those off and then take that same payment

38:46

if you have others and use a snowball effect or let it roll into the

38:51

next car to the next balance and keep doing that. Before long, uh

38:54

that those balances will be will be dwindling and maybe add zero. Know,

39:00

so living debt free is definitely, you know, important for everyone out there.

39:05

And there you know, we talk about good and bad debt. Good

39:08

debt, mortgage, bad debt, credit card, that type of the thing.

39:12

A lot of people come in and they're you know, they ask us

39:14

say, should I, uh, should I use my some of my retirement

39:17

account dollars to pay off a mortgage? And you know, typically our answer

39:22

is going to be no. You know, you want to utilize those retirement

39:25

dollars for retirement and to create income. And as a matter of fact,

39:30

that's the next thing I want to talk about, is you know a way

39:34

that you guys out there can ensure you have a retirement word celebrating is by

39:37

establishing retirement income sources. That's a that's a key key component to a successful

39:45

retirement. Your income determines your outcome during retirement, folks, absolutely, and

39:50

we've got to rely on income and we've got to create that ourselves. And

39:53

that's where you come in because you can help us you know, generate that

39:57

income. Multiple income sources really are the best. In fact, the irs

40:00

says that the average millionaire has seven streams of income. It reminds me that

40:06

Robert Kiyosaki book Multiple streams of Income. That's a good one. If you

40:09

guys haven't read that out there, encourage that pretty easy reading. He just

40:13

talks about you know, he's the author of Rich Dad Poorty too, but

40:16

yeah, he talks about multiple streams of income. It's important. But regarding

40:22

establishing a retirement income source for you guys out there, you want to define

40:27

specific income sources in your retirement plan for when you stop working. Okay,

40:34

Now, the income sources are going to vary across different stages of retirement.

40:37

Like some of you may have pensions, some of you may just withdraw money

40:42

out of a retirement account. Some of you may have rental income from real

40:47

estate or commercial real estate things like that. So those are all key components.

40:52

But at the end of the day, you simply must have an income

40:58

and a distribute plan for retirement. We just did an event recently, you

41:05

know, and we talk about these events all the time, but they're that important for us to get the message out to people. Okay, but this

41:12

is probably I think twenty two to twenty four people in this event, and

41:16

I asked everybody in there, how many of you have an income and a

41:21

distribution plan? You know, raise your hand and nobody raise your hands to

41:25

even obody. H wow, nobody. Not one person. Not one person.

41:30

So I'll ask our listening audience right now, how many of you have

41:35

an income and a distribution plan? If you're wondering what that is, it's

41:39

a plan put together by an expert like myself that shows you how much to

41:46

take out of your retirement savings, when to take it out, and how

41:51

long it's going to last. Okay, how much take out, when to take it out, how long it's gonna last. So these, you know,

41:57

twenty plus people, nobody had that. And I said, okay,

42:00

you know you guys, you have retirement savings, you have money, and

42:04

these accounts. The first thing we need to do is turn the accounts into

42:07

a plan that's going to help you. Because I say it over and over

42:12

and over again, when you have a when you have a plan, it

42:14

gets you where you want to go and keeps you there. Okay, So we got to do that, right, but the next thing is you got

42:21

to have an income and a distribution plan. How can you have all this money saved and this and not know how to distribute it over your retirement Like

42:29

not having an income and a distribution plan, it is a wrong turn that

42:32

leads to a dead end on the road to retirement. So, folks,

42:36

we have to establish retirement income sources. And my observation as a retirement planning

42:44

expert is that it really does require the assistance of someone like me to do

42:50

that for you, because there's just a whole lot that goes into it, and you don't want to mess it up. You want to know where those

42:54

retirement income sources are coming from and how much you're going to be Now kind

43:00

of piggybacking on some of this stuff, I'm thinking as we're going just kind of off the cuff here, rebalancing portfolios is pretty important too, sure it

43:07

is. And again that's something that that I'm sure not everyone fully grasps in

43:12

terms of what that means. Not really, most people don't really understand what

43:15

they have in their portfolio, what they own. They don't know their performance.

43:19

I will point out one thing because it's been happening a lot lately in

43:22

our office. People are coming in and they're saying, hey, look at this account. I've averaged nine point whatever percent. Okay, fantastic. It's

43:30

so easy for people to see it when it's a positive number and talk about

43:34

all, my average is this, this or this because they want to forget.

43:37

People want to forget about the times when it was down twenty two to

43:39

twenty eight thirty four percent. Right, So, folks, you got to

43:43

ensure an appropriately weighted investment portfolio for your retirement security. You know, too

43:47

aggressive of an investment is going to give you a significant risk of loss during

43:52

a market correction. And then if you go the other way and you're too

43:55

conservative, you might not get through retirement, you know altogether. So what

44:00

I'm offering you guys right now is time for the portfolio observation Report. This

44:07

is for the next eleven callers in the next eleven minutes. It's the Portfolio

44:10

observation Report, a non biased, fact based report showing you exactly what you

44:15

own in your portfolio, the performance of it, the cost of it,

44:20

and we want to make sure that it's you know, appropriate for the risk

44:22

that you want to take. As well fact based report. People love it

44:28

and it's yours calling right now to understand what you have in your portfolio and

44:31

make sure it's the right thing for you. Absolutely, it'll cost no obligation

44:35

to help you get a better handle on your financial situation. It starts with

44:37

a phone call eight hundred ninety four zero six eight hundred nine four zero sixty

44:43

nine seventy nine. When we come back, it's time once again for questions

44:47

from you and answers from me, one of our favorite parts of the show,

44:52

Adam more right after hang On. You've worked all your life, you've

45:02

saved, you've followed all the rules. Now it's time to retire. Here's

45:07

the question. Who do you want relaxing and taking it easy, your nest

45:13

ache or you? Well, of course you want to relax and travel and

45:16

enjoy and nest egge. You've got more work to do for a retirement that

45:22

maximizes your portfolio, your social security, avoids unnecessary risk, protects you from

45:27

pitfalls, and frankly let you retire and keeps the nest each working. You

45:32

need a retirement partner. You need someone looking out for your best interests and

45:37

building a plan for you based on your situation, call Trip Limehouse at eight

45:44

hundred and nine four zero six nine seventy nine or text trip tripp to eight

45:49

hundred and nine four zero six nine seventy nine. That's eight hundred and nine

45:52

four zero six nine seventy nine, or text trip to eight hundred and nine

45:55

four zero six nine seven nine. We're back on the road to retirement with

46:02

Trip Limehouse, winding down today's cruise and having a good time doing it.

46:07

We have got some great questions here, but Trip I want to remind everyone

46:12

one more time. Let's tell them how to get involved with the seminars you

46:15

got coming up. Oh yeah, well, folks, you can visit limehouse

46:19

financial dot com under the events tab you can check out what we're doing on

46:22

an ongoing basis. But I'm going to tell you pay close attention right now.

46:25

We've got two events coming up and I would like to invite everyone out

46:29

there to attend. The first one is going to be Wednesday, May the

46:32

first, at six pm. Wednesday May the first, at six pm at

46:37

the Lexington County Public Library. This is an educational workshop on social security and

46:43

income planning. Now, the next one after that is going to be on

46:46

a Saturday for all of you that may not be able to get to an

46:50

e venturing the week. We love these Saturday events and this is going to

46:53

be a breakfast event, so we're going to serve you breakfast as well.

46:58

Saturday, May the eleventh, I'm thirty am at the Lexington County Chamber of

47:02

Commerce a workshop on income and Social Security planning. You don't want to miss

47:08

it, folks. We have a lot of fun at these events. Eight

47:12

hundred and nine four zero six, nine seventy nine. Give us a call

47:15

if you'd like to get on the roster and attend one of those educational events.

47:19

Hey, Steve, those breakfast ones and we have fun at all of

47:22

them, but the breakfast ones I find are really relaxing for people. Saturday

47:24

morning, nine thirty. You know, a little over an hour breakfast,

47:30

coffee and events, and we just get so much feedback from it, so

47:32

we're continuing to do it on an ongoing basis. So I didn't ask you

47:36

about your order this time. We usually say, hey, what are you gonna do? I know Belgian waffles I think you said about Yeah, waffles

47:43

are always good. I got a hunker for a waffle. How about it? Yeah, people are really enjoying that breakfast we're serving. I'm and the

47:50

information as well. So hey, quick shout out to my wife, Honey,

47:52

I love you so much. Thanks for all you're doing around the house

47:55

right now. We got a couple of projects that are happening, and Amy

47:59

has just been in that own just whipping things into shape. Honey. I

48:02

love you. You're awesome. So how about these questions? Do you know?

48:07

I just I highly value our listeners and the questions they ask, and

48:13

I think that for other listeners they value the questions as well, because sometimes

48:17

somebody will ask a question that another person wants to know the answer to,

48:20

but they don't call in. You know, then, folks, we want

48:23

you to call in eight hundred and nine four zero six nine seven nine.

48:28

If you don't get us, leave a message with your question. So what

48:30

have we got? We got Marge. She's up first in Lexington. She's

48:34

asking about do you pay a higher amount in taxes on a post tax wroth

48:38

IRA or a pretext four oh one K. My understanding is that with a

48:43

four oh one K, you'd need to pay taxes on a much higher total

48:47

given the compounding interest over time versus the much smaller amount in a wroth IRA.

48:53

I think, great, yeah, a great question, Marge, and

48:57

a lot of people will wonder that same thing. So the question is where

49:00

are you paying more taxes on a post tax wroth or pre tax four one

49:06

k? All right, So on the pre tax four one k, you're

49:09

not paying any taxes on what's going into the four one k, so you're

49:13

saving taxes currently today you're getting a deduction. Okay, But then when the

49:19

money comes out of that four one k, which for most people, we

49:22

turned it into an IRA. By the way, folks, if you have a four to one K and you're wondering what to do with it, give

49:27

me a call. I can share with you strategies of how to roll it

49:30

over and make it work for you. Okay, before ask us about the

49:34

four to one k rollover? But Marge, the answer is you're going to

49:37

pay more income taxes on the backside coming out of the four to one K

49:42

than you would the wroth because the way the roth works is you're paid the

49:45

taxes on the money before you put it into the wroth today, but then

49:51

when it comes out, you're not paying any income taxes because it grows tax

49:53

free in it comes out tax free. So simple answer is the four one

49:58

K is the one you're going to pay the most taxes on. All right,

50:00

fair enough, Marge, give us a call. It's eight hundred ninety

50:02

four zero six nine seventy nine. Jerry in Columbia. He says, I'm

50:07

turning seventy in November. When will I be required to make my first RMD?

50:12

And can I avoid taking the initial withdrawal and the second withdrawal in the

50:16

same year. I think Jerry's a little confused on age, but I know

50:20

that's a pretty common thing people, This RMD thing. It's changed a lot

50:23

in the last three years. Yeah. Well, the first thing that changed

50:27

it was a Secure Act one point zero. Now there's been a Secure Act

50:30

two point zero. Secure Act in twenty nineteen passed and pushed out the required

50:35

minimum distribution age from seventy and a half to seventy three, and eventually it's

50:39

gonna be seventy five. So Jerry, really what you need is the RMD

50:43

roadmap, the required minimum distribution roadmap. You know, quite frankly, most

50:47

people don't know when they're going to have to take money out of their tax

50:51

defer retirement accounts and they don't know how much. And that's why we offer

50:55

the RMD roadmap, Required Minimum Distribute Roadmap. So just come on in and

51:02

see us and we'll put that together for you and you'll know exactly what you

51:07

have to take out and when you have to take it out. All right, eight hundred nine four zero six nine seventy nine. Let's see we got

51:14

time for another one here. Let's go to Gene. She's in West Columbia.

51:16

She says, I'm inheriting two hundred and fifty thousand dollars. I have

51:21

no savings or retirement at fifty four years old. How can I invest this

51:24

money to make it last? Just call trip? Simple question, answered Gene,

51:30

well, Gene, inheritances are always nice. They will make a big

51:35

difference for you, you know. Just know you're not the only one at

51:38

fifty four to not have any retirement savings and be thankful for this inheritance.

51:45

I'm sure you already are. What we really need to do is build you

51:49

a comprehensive individualized retirement roadmap that shows you what to do with the two hundred

51:53

fifty thousand, how to properly allocate it and invest it and then make sure

52:00

that you can utilize it for years to come. So you know that would

52:04

be my offer to you is to come on in and see us and we'll build you that retirement roadmap. I want to mention the green line principle because

52:10

you know, you mentioned to us you don't have any savings other than this

52:15

inheritance. So I would think a top priority for you would be to keep

52:17

what you have just inherited. Now, the green line principle offers you total

52:22

protection of this money. Zero is your hero. You cannot lose any of

52:29

what's in the green line. On the green line, and you got a

52:32

lot of upside potential, so it's safe money strategy. Gene, I think

52:36

should be a top priority for you moving forward, and really for anybody else

52:39

out there. So Gena, I'll look forward to seeing you in our office.

52:44

Come on in so we can build you a plan to show you exactly what to do. Folks, we've had a great episode of the road Retirement

52:49

Show today. Make sure you check us out online limehousefinancial dot com. And

52:54

you know, we just want to want you to know we're we're experts in

52:58

this area about you. We have many, many years of experience, and

53:05

we function from a fiduciary capacity only making recommendations in your best interest. So

53:09

what we'd like to do is just extend one more invitation to you today to

53:13

give us a call eight hundred and nine four zero six nine seventy nine and

53:16

schedule an appointment with us for a retirement review. We'll see where you are

53:22

and show you how to get to where you want to go and stay there

53:24

safely. Sounds great trip, folks, take advantage of this one. Eight

53:28

hundred ninety four zero sixty nine seven nine. We need to call it a

53:30

show trip. It's been a good one. Tune in next week, folks,

53:34

we'll look forward. It's been in time of key again. The information

53:40

provided is for illustrated purposes only and does not constitute investment, tax, or

53:45

legal advice. Information has been obtained from sources that are deemed to be reliable,

53:47

but their accuracy and completeness cannot be guaranteed. Either Trip Limehouse nor his

53:52

guests are liable for the usage of information discussed. Always consultable the qualified investment,

53:55

legal, or tax professional before taking any action.