Trascrizione completa di Retirement Planning

turn it over to to them to say, you know, what really brings you in today, and what's on top of your mind. And more often than not, they say we really want to know how we're doing. 00:02:24.229 --> 00:02:27.770 Okay, so it's it's that didn't sound like a question though. It sounded like a statement. 00:02:28.159 --> 00:02:32.629 Well, true, but then it leads to multiple questions as well. What's 00:02:32.629 --> 00:02:33.919 the next one? 00:02:32.629 --> 00:02:34.129 What's what comes right after that? 00:02:34.250 --> 00:02:35.449 Do I have enough saved? 00:02:35.930 --> 00:02:37.280 And then you say, I don't know. 00:02:37.400 --> 00:02:39.889 I have no idea. 00:02:37.400 --> 00:02:39.889 That's why we have a 00:02:39.979 --> 00:02:42.069 meeting, right? 00:02:39.979 --> 00:03:00.789 Exactly. Like I always find, like I love to tell you, you can retire, but you need to tell me your story. You got to tell me what's going on. Tell me what you have done. Now at AKERS Financial Group, we call this your unique financial fingerprint. That is what you've done during your lifetime. Have you saved money? Have you put money aside? Are you in debt? 00:02:57.699 --> 00:03:17.789 Are you not in debt? What's really going on with your finances? Make sure we know and got it all in a good spot to be able to help you get to where you want to be. So you got the you got the how how are we doing? You start talking about information. Do you let them just tell their story? What what happens next? 00:03:18.030 --> 00:03:39.199 Well, you know, I love when they ask me that open ended question. Right, I don't have to say yes or no. We, we, you know that, and that leads us to asking open-ended questions to our clients. So they say,"How are we doing? And I say,"Well, please tell me more. How, you know, how have you been saving? How are you doing? And you know, what what are your goals and your plans for retirement? 00:03:39.650 --> 00:03:39.770 Okay, 00:03:40.219 --> 00:04:00.520 right. But I really say I need to get to know you, to from a standpoint of you know how you like to you know live your life, spend your spend your money, your budget, goals. If you have any specific financial needs in the near future, and then also obviously your your long term goals as well. 00:04:01.689 --> 00:04:10.500 So do they ever come in and talk to you like this? They come in. Oh, here's all my financial numbers. I ran it through AI, and I think I'm okay. Can you review this? 00:04:10.919 --> 00:04:12.658 More often than not lately. 00:04:13.348 --> 00:04:17.699 And and what I do is I say, oh, that's great. You did some of the work for me. 00:04:15.269 --> 00:04:23.838 We've had financial planning software forever, so using financial planning software or some of the AIs can create it. 00:04:21.588 --> 00:04:39.978 We always got to look at the assumptions and calculations and see out what makes sense. Then what we really do is get down to the AKERS way of actually working through where you

are now to where you need to be, and how we advise and guide and get people to where they need to to be to make this money last a lifetime. 00:04:40.279 --> 00:04:52.149 Yeah, of course, and I think that the AI software is great, and it's I like that clients do their homework, but more often than not, they need someone to help them interpret that data that the AI you know spits out. 00:04:52.360 --> 00:04:52.480 Yep, 00:04:52.810 --> 00:05:06.839 right, and so that's how you know we come in and get to know them better, and then we're able to build that, as you said, unique. Financial fingerprint because everybody's different. So when they say,"How am I doing? I need to know more about you. 00:05:07.379 --> 00:05:19.769 Yeah. So that that begins the first meeting of gathering information, and then we prepare for a second meeting where we come back with it written out to explain what you told us, and then we can start answering the question of how you're doing. 00:05:20.040 --> 00:05:20.449 Exactly. 00:05:21.048 --> 00:05:41.769 Now, sometimes on the radio show, what I'll say is, if you walk through our door and you have your mortgage paid off and you've been a saver over your lifetime, rather than someone that goes in debt first and then not doesn't save, but you've been a saver, and if you have your house paid off when you walk in the door, I'd say normally we can get you retired in a very quick period of time. 00:05:42.009 --> 00:05:51.310 Yes, I say this often that most of my happiest clients, or the ones that have the most peace of mind, are the ones that retire with as little debt as possible. 00:05:52.089 --> 00:06:04.589 Absolutely, because retirement is cash flow. Cash flow is money in, money out. If you need a lot of money, like if your monthly nut is really high, then you got to bring in a lot of money, and then you got to invest in a certain way to get those high withdrawals. 00:06:04.860 --> 00:06:12.420 Yeah, and you know everybody, as you said, is different, and we have clients with extravagant lifestyles that like to travel and spend. And 00:06:12.660 --> 00:06:13.319 traveling's good. 00:06:13.620 --> 00:06:19.920 Traveling's great, especially if you have you know family that you want to go see. 00:06:17.310 --> 00:06:35.449 And many of my clients, they want to. Yep, one of my favorite things that I've heard from you know a good client of mine was you know what do you want to do with your time and he says I want to be with my family I want to spend time traveling to see my family they're all over the country I want to be able to go see them and that's great 00:06:35.839 --> 00:07:09.420 yeah it's pretty good now there's a lot of things people have on their list I call that winning in retirement because you win when you have your goal list, and then you can afford to actually go do the goal list. That's a great way to be. So today's show is about answers people answers the questions that people have when they come in. So when people

say how are we how are we doing, the idea is and that opens up conversation about you, the client, you the person in the room, to the advisor, saying this is our story. This is what we've been able to do, what we've been able to accomplish, and then we get into goals. How do you ask people about their goals in their life? 00:07:11.100 --> 00:07:31.040 Well, that usually develops organically as we have that conversation. A lot of times, it starts with, "Do I have enough saved? Right, and I say, "Well, what are you saving for? And at the end of the day, it's important that I understand. You know, really, what does it cost to be you on a monthly or annual basis? And that's a tough question to to answer. Yeah, I 00:07:31.100 --> 00:07:32.990 don't want that question. What cost to be you? 00:07:33.529 --> 00:07:52.660 Right. I don't really want to know. How about all my whole family? I can. A lot of guys like to blame their wives for the money being spent, in reality, that the men spend big dollars, the ladies spend a little bit constantly, but the men spend the big dollars. So it is usually the the male that changes the whole budget. That's 00:07:52.720 --> 00:07:55.660 true. That's true. 00:07:52.720 --> 00:07:58.089 A bunch of little Amazon boxes versus one big giant one. I'm 00:07:58.180 --> 00:08:06.089 like, we can't camera showing that. I get in trouble. I do have a video of UPS, FedEx, and Amazon in my driveway. 00:08:06.329 --> 00:08:06.629 That's great. 00:08:06.750 --> 00:08:08.490 Same time, so that was fun. 00:08:08.579 --> 00:08:09.959 And that was all your deliveries, 00:08:10.290 --> 00:08:13.110 of course not. All right, so we're doing this show. 00:08:13.230 --> 00:08:31.759 The show is called Answers to Your Questions. So when you are thinking of questions and you're saying, "Well, should I have an advisor or not? Well, when you come into the advisor. You get to ask these questions, and these questions will lead us to help you and get to where you need to be. Sometimes they'll say just simply, "Can I retire? 00:08:28.009 --> 00:08:43.029 They're coming in. They might already be 5860, 6265, You know those ages that are nearing retirement, and they're saying,"Oh, can I retire? It might be one spouse, or might be both asking that question, right? 00:08:43.360 --> 00:08:54.039 Yes, and I think the follow-up question really that I ask is, well, where's your, where are you going to get your income? What are your guaranteed sources of income, right? So we can match that with your spending. 00:08:54.580 --> 00:09:25.909 Yeah. So what we do is we write down your income. We look at where you can draw from and how the choices you have to make. Just the other night, I we logged on to the pensions website and looked at all the options as the single life option, and this was a a state employee, so they had option one through six. We went through each option, how they work, and the money, and we narrowed down to what was right for the spouse, and

then we were looking into the Social Security, trying to get that regular income started-that's going to be guaranteed from where you work or from the federal government. 00:09:26.450 --> 00:09:31.399 Then we talk about how to where other money would come from, where would it come from, portfolios, things like that. 00:09:31.669 --> 00:09:32.000 And we talk, 00:09:32.360 --> 00:09:35.450 and we well, we talk about that in the seminar, the income gap, 00:09:36.350 --> 00:09:36.529 right? 00:09:37.370 --> 00:09:46.029 So exactly. So you you go through the process with the client to understand what their guaranteed sources of income are, so we can really start to build that roadmap for them. 00:09:46.809 --> 00:09:59.500 Yeah. So sometimes they say, "The one case I had this up, but the wife says, 'Can I retire? Then I said, 'Are you both retiring? And and she says,'No, it doesn't matter. Can I retire? I'm retiring next year. 00:09:56.980 --> 00:09:59.500 And then the husband's like. 00:10:00.240 --> 00:10:17.700 I'll get to retiring. I'm not going to retire right away, and so the the whole idea was the the planning became how for the wife to retire, that the husband was going to keep working for a while and then figure out the next phase after that. So it really is a phased retirement between one and the other. 00:10:18.149 --> 00:10:20.750 Yeah, of course. 00:10:18.149 --> 00:10:54.429 And I've similarly, I have clients that we start the process and we have the conversation about retirement, and they say, "I want to retire, you know, two years. But as we continue to work together, and you know, they have no reason to leave, or they want to continue working. Maybe they enjoy their job, or you know, they haven't, you know, finalized in their mind really what it is that they want to do with their time once they retire, and I see them pushing it down the road a little bit longer, and that just allows us to continue to have the conversation so that we're 100% confident when when they do decide to make that move. 00:10:55.090 --> 00:11:25.250 Yeah. So in that first meeting, when they're asking questions, we're not really giving out answers. What we're doing is talking about who they are, what they want, what they want to accomplish, and then what we try to do is explain how AKERS Financial and their team of advisors will walk you through from now to help you be able to retire in the in the planned time period if we can, and that's going to be a lot of information to start. And then we do complicated meetings, and it all gets easier and easier as we do all three to five meetings to get you in the right place, right places. 00:11:25.429 --> 00:11:40.399 I agree. It's an education, so educate me on what your goals are. Educate me on what you want to do. We'll take the data, and we'll come back with an education on how we feel you should take the next steps and how we feel you can be successful. 00:11:40.820 --> 00:12:02.279 And we create a things to do list

so that you can begin to walk through that, and we guide you and and do a lot of the work because that's what we love to do. Now, AKERS Financial, we all know that the best part of retirement is getting your time back. For you decide how to use it before retirement. Your time is tied up with other commitments. You know, mainly your job. A lot of that goes away in retirement. 00:12:02.399 --> 00:12:44.289 Your time is now consumed by things that you want to do. It's so easy to begin winning in retirement. Just go to our website at akersfinancial.com, scroll to the schedule meetings section, and let us know you'd like to schedule your free consultation with one of our team of advisors. That's acresfinancial.com, or you can call us at 833 W I N R E T I R E. That's 833 win retire. We'll give you a call on Monday to schedule your free in person meeting. So go to acresfinancial.com or call us at 833-946-7384 to start planning for your retirement now. A common question we get is this: Where do I start? We'll talk about this when we return in a moment. 00:12:45.549 --> 00:12:57.399 You're listening to a pre-recorded show. Welcome back to Winning in Retirement. Call 833 Win Retire now to schedule a visit with Brian and his team and begin Winning in Retirement. 00:12:57.940 --> 00:13:00.039 Once again, here's BRIAN AKERS. 00:13:00.519 --> 00:13:13.919 Welcome back to Winning in Retirement. I'm BRIAN AKERS, President and Founder at AKERS Financial Group. Here with me today is Nick Beniti. He's a financial advisor through AKERS Financial Group. He's been with us us for a while and also been in the industry for 16 years. 00:13:10.860 --> 00:13:38.360 Him and I have been doing seminars locally, and by doing those seminars, we've had lots of questions, and so we want to do a radio show about answers to your questions. A lot of this has to do with you getting started and how to begin by you asking questions. It's a good thing for you to ask questions, and one of the common questions we get is, "Where do I start? So here in the second quarter, Nick, welcome to the second quarter. I want you to answer,"Where do we start? 00:13:38.809 --> 00:13:43.779 Yeah, and I think that's a great question, and it is a loaded question, Brian. 00:13:40.570 --> 00:13:51.190 Where do we start? And one of the things that I say in the seminar is we like to meet our clients where they're at, right? 00:13:46.450 --> 00:13:59.110 So the first step is getting to know you and understanding, you know, what your plan is. And so where do you start? You start by having that retirement conversation. 00:14:01.059 --> 00:14:01.740 And what's that like? 00:14:02.610 --> 00:14:25.879 Well, it's an interactive conversation about your goals, wishes, and dreams when it comes to your retirement, and not just you know your 401k. Right, everything takes into consideration. We want to know more about you know your income and your spending and Vacations, trips, debts. Right? Do we need to pay off some student loans? 00:14:26.000 --> 00:14:40.039 Do we want to pay off our house, as we had said in the first quarter? Right? So, you know, where do we start? Well, we start with having that comprehensive rundown of questions about who you are, what your goals are, and where you want to go. 00:14:40.730 --> 00:14:51.250 Now, that's going to scare people because they don't really want to come in and talk like that. So what makes it comfortable, and is it something that's confidential? What happens for for people as they talk about these things with you? 00:14:51.909 --> 00:15:10.230 Yeah, well, and I think it's important that you have a good relationship with your advisor. You want to be comfortable. You want to be able to share with them. You know, I had said in the seminar the other night. One of my favorite things is when a client calls me when something changes financially in their life. I'm one of their first calls because they want to know, you know, can we do this? What should we do? 00:15:10.769 --> 00:15:23.149 And they value my opinion. And we do that by you know building trust. And some clients walk in and they you know we build trust right away, right? And and others come in and and they you know have a little bit of a guard up and I don't blame them. 00:15:23.659 --> 00:15:33.169 You're going to be talking intimately about your investments and your spending and your cash balances. So you want to be comfortable with the person with whom you're you're speaking. 00:15:33.950 --> 00:15:35.929 Absolutely. 00:15:33.950 --> 00:15:39.110 Sometimes that takes a few meetings to get to that point. 00:15:36.019 --> 00:15:47.470 Some clients will tell you like like a card game. They'll put a couple cards down the first meeting, third meeting, fifth meeting. All of a sudden, they're I forgot about a few things or didn't tell you about. 00:15:47.980 --> 00:15:50.169 So you start to start getting more information. 00:15:50.440 --> 00:15:50.860 Absolutely. 00:15:51.190 --> 00:16:08.909 So I found through retirement planning over the years that people aren't really sure what they want. They're not really sure how to get there, and so the hard part about where to start at AKERS Financial Group, what we do is we say it's as simple as starting up your unique financial fingerprint. 00:16:09.389 --> 00:17:06.000 You are unique, unlike anybody else, because your finances are are different than everybody else. Now we can't just go to a party and just listen to everyone's advice. What we need to do is understand where you are, what you've done so far, what's your family like, what's the income, the pensions, how long have you worked? All of this ties into who you are, and then we start where you are, and then we build from there. That means we need statements, we need tax returns. If you go to our website, akersfinancial.com, under under documents you'll see the list of documents that we need you'll see the information package you got to put together you also see

the confidentiality things that we have right on our website that we give to every client for each engagement that we do so this where do we start um for me has always been about talking about that financial fingerprint because we're all different, but we got to start there and then build it out. 00:17:03.059 --> 00:17:09.089 Building it out is what planning is all about. Now, I think one of the questions Nick really 00:17:09.210 --> 00:17:16.319 is the person walks in the door and they say,"We have a we have a broker, not a financial planning advisor. 00:17:16.589 --> 00:17:17.369 What's the difference? 00:17:18.749 --> 00:17:54.999 That is a good question, and I do. I do enjoy this one because I feel like a a broker or someone where you know maybe you tried them out and they helped you grow money or they had a good idea for a good investment that that will grow for the future or you know you know hopefully you know increase in size but they don't really ask about what the money's for, right? It's not goals based planning, and I think that's really the difference. It's more a broker is more of what's the next best thing that we can find from a market standpoint, and the financial planner. It's really more about the process. 00:17:56.079 --> 00:18:08.640 Yeah. So my entire career has been geared around what do you need, and then whatever you need, being an independent financial advisor, we go out and find that. I've never had one product to sell. 00:18:08.638 --> 00:18:08.909 Exactly, 00:18:09.000 --> 00:18:48.250 I've had planning leads to the ultimate decision, and so if I made changes in my career, it was to be able to provide better options for the for the answer, more diverse answers for the client, and that's why we have AKERS Financial, an independent financial firm where we can deliver what that client needs at that time, and that's a really big deal because I think a broker would be more driven by by what the product they try to place and what they're trying to fit into that situation, and then I try to find the situation and what it's calling for, which then dictates to me and narrows down these 1000s of choices out there down to what we should do. 00:18:48.640 --> 00:19:04.589 Because what's cool is there's 1000s of answers, 1000s of choices, but what's best for you has to be uncovered through a process of learning about you, understanding risks, time horizon, and putting them all in sort of like a timeline of which one's going to happen first. 00:19:04.950 --> 00:19:14.099 Yeah, and as I said earlier, it's more of a a product versus a process, right? 00:19:08.369 --> 00:19:27.740 Sure. And that process requires us to get to know you. And just going back to what we said earlier, when it comes to meeting with our clients, you know, I'm a talker, and I like to share things about my life as well. And some clients enjoy that; they want to get to know their advisor, right? And that allows them to. Others 00:19:27.829 --> 00:19:28.849 don't.

They don't want. They don't care. 00:19:29.089 --> 00:19:32.720 Well, it all depends. I mean, we do. I mean, have you ever had a client very matter of fact? 00:19:32.990 --> 00:19:35.119 How about I just give your speech? Can I give your speech? 00:19:35.179 --> 00:19:35.328 Sure. 00:19:35.599 --> 00:19:46.569 No, I was I was going to joke. So the the thing is that Nick and I both are coaches, and so we love to always talk about coaching because it ties to what we do as a job. We feel like we're coaching in the financial plan. 00:19:46.630 --> 00:19:46.660 Oh, 00:19:46.659 --> 00:19:47.048 absolutely! 00:19:47.380 --> 00:20:12.660 And that coaching is a big deal. So our mindset is something where when you're looking for an advisor, how are they going to treat you? Are they going to help and guide you? Help you basically be that motivated. Behind where you are to be able to get you where you need to be. That's what you want in a financial advisor is someone that's back there cheering you on, giving you everything you need to be successful. And that's what coaches do: is they get you ready for the game. 00:20:12.960 --> 00:20:19.650 Yeah, I mean, say you have a brand new player who walks up to you and says, "Hey, coach, what should I do to get better? And you've never seen him play before, right? 00:20:19.950 --> 00:20:22.160 Right. And so I said you showed up. That was good. Yeah, 00:20:22.339 --> 00:20:23.329 right. Yeah, step one. 00:20:23.509 --> 00:20:36.890 And then I said let's let's see how practice goes today. Exactly. And then we'll have a talk about what happened today. And then we'll see about a week from now. And then the idea is, some people are are anxious. They want to hear everything, good or bad, but they really don't want to hear the bad. 00:20:37.189 --> 00:20:37.249 No. 00:20:37.549 --> 00:20:46.839 In financial planning, we got to look at everything and we write it all out because we got to deal with the good and and make them better. We got to deal with the bad and get rid of it. 00:20:46.960 --> 00:20:49.839 So the term that I like to use is inefficiencies. 00:20:50.500 --> 00:21:07.259 Right, it's a big word. But we take a look and we say how efficient is your portfolio or how efficient is your plant. And if anything jumps off at the you know from the statement, sometimes just at first glance, you can see that perhaps client is taking on way too much risk, or they have way too much cash. 00:21:08.460 --> 00:21:10.410 What I like to do is say it's more like gardening. 00:21:11.279 --> 00:21:20.940 I go more simple. So, gardening, you pull the weeds. So, if it's bad, you pull the weeds. You heard of them, and then even the best plants, you got to trim and prune and get better and reallocate 00:21:21.119 --> 00:21:21.650 and harvest 00:21:21.950 --> 00:21:23.809 and harvest, yeah. 00:21:21.950 --> 00:21:23.960 So you're getting the feel of that. 00:21:24.079 --> 00:21:24.799 Oh, I love the garden. It 00:21:24.920 --> 00:21:28.519 might be inefficient to do that, but it is what we have to do. 00:21:28.759 --> 00:21:30.920 And what happens if you don't tend to the garden? 00:21:32.299 --> 00:21:37.579 I can show you pictures of it. Just a bunch of weeds everywhere, and you can't even find what you actually put in there. 00:21:37.730 --> 00:21:38.450 It gets out of control. 00:21:38.809 --> 00:21:41.980 And even the good plants are at three times the size they should be, 00:21:42.279 --> 00:21:59.740 right? Exactly. So you know you have to consistently monitor and keep up and care, right, for that garden. And it's the same thing with financial planning. You want to stay consistent. You want to stay disciplined and follow up, and you want to put the thought and the care towards what your ultimate goal 00:22:00.368 --> 00:22:20.659 is. And what that does allow us to become your advisor, and then we stay your advisor if you stay here locally, or if you start to relocate around the country. We have clients all around the country, and we work with them because we're licensed in multiple states. So it doesn't mean someone has to stay. With modern technology, we zoom into all kinds of different states. 00:22:17.638 --> 00:22:24.138 It's fun. I have clients in Alaska, Hawaii, and a few around the world. That it's probably the furthest out there. 00:22:24.410 --> 00:22:25.970 That's pretty cool. 00:22:24.410 --> 00:22:27.529 So when they have that fancy background, it's actually real life. 00:22:27.799 --> 00:22:30.500 Oh, I hate that. 00:22:27.799 --> 00:22:32.900 The worst thing is going Alaska, and that there's a moose in their backyard. That's awesome. 00:22:32.960 --> 00:22:37.640 And so they're trying to figure out how to show me the moose when I was talking to them because I I am a big moose fan. 00:22:38.119 --> 00:22:40.579 All right, so let's. I got some quick questions for you. Okay. 00:22:41.150 --> 00:22:47.680 All right, so can you answer this completely in one word? No, I'll do my best. Bad joke. How exactly do we retire? 00:22:48.400 --> 00:22:49.930 That I mean, that is a great question. 00:22:50.230 --> 00:22:54.039 They ask like, how exactly do we retire? And then one word is my bad joke. 00:22:54.339 --> 00:23:06.059 Oh, but I mean, that is a great question. What do we do? Where do we go? How it starts with talking to your employer and HR, but then there's also Social Security. 00:23:06.299 --> 00:23:17.160 You talk to your employer when you're ready. Talk to your employer because you don't want to let it out of the can too soon, right? Exactly. I mean, like you're six months early, and then all of a sudden, hey, hey, we can let you go next week. Yeah, hopefully 00:23:17.190 --> 00:23:25.339 at that point you've already done your proper planning just in case. But correct. And then, what are the steps? Do we do we just walk into Social Security? Can we do it online? 00:23:25.549 --> 00:23:25.880 Online. 00:23:26.089 --> 00:23:28.430 When should we

start filing? 00:23:28.670 --> 00:23:29.329 Four months before. 00:23:29.690 --> 00:23:30.829 Right. What about healthcare? 00:23:31.279 --> 00:23:37.819 Healthcare. You got to know what you have now. What age you are. You under 65 or above. Or listen to a radio podcast we've done about healthcare. 00:23:38.089 --> 00:23:38.480 Yes, we have. 00:23:38.809 --> 00:23:49.960 Yeah, it's a pretty good one. Jeff and I did that recently about healthcare. When it comes to retirement, there are so many things in retirement. I like to build a timeline of these issues so that you can get them done in time. 00:23:50.380 --> 00:24:01.829 That's what an advisor that's going to be meeting with you more than a couple times and have you come in on an annual basis, getting all of this in alignment, and then monitoring, tracking to the future. That's exactly we're trying to work on. 00:24:02.369 --> 00:24:05.250 Cash flow is a key to all this. 00:24:02.369 --> 00:24:05.910 Cash flow is money coming in, money going out. 00:24:06.299 --> 00:24:15.180 Cash flow and income, and I say that often in the seminars. You know, where are we drawing our income, and how are we drawing our income? 00:24:15.839 --> 00:24:21.920 It's very, very important to have a plan for what you're going to do. Don't just draw it from everywhere. 00:24:22.039 --> 00:24:42.579 Don't just draw it from the stock stock market. We'll be covering throughout the show why those might not be the best thing. But when you have these questions, you're looking for answers. Those answers begin with information, and that's what we're trying to make them a big point. Is this financial planning is where we ask a lot of questions. Make sure you understand that it's okay to have that kind of conversation. 00:24:43.299 --> 00:24:45.640 AKERS, when that you wrote, we're local, we're independent. 00:24:45.880 --> 00:24:55.059 We report. We don't report to a big company on Wall Street. We report to you. We have offices in Forest Hill and Lutherville, clients all around the country, even a few around the world. 00:24:55.690 --> 00:25:08.279 It's so easy to begin winning in retirement. Just give us a call and schedule your free. Meeting with one of our team of advisors by calling 833 win retire. 00:25:01.980 --> 00:25:08.279 That's 833 W I N R E T I R E. 00:25:08.670 --> 00:25:20.329 We'll give you a call on Monday to schedule a free in person meeting. Go to akersfinancial.com or call us at 833-946-7384 to start planning for your retirement now. Another 00:25:20.450 --> 00:25:28.640 Where will my retirement income come from? Let's talk about that when we return for the second half. 00:25:30.230 --> 00:25:42.069 You're listening to a pre-recorded show. Welcome back to Winning in Retirement. Call 833 Win Retire Now to schedule a visit with Brian and his team and begin winning in retirement. 00:25:42.609 --> 00:25:44.710 Once again, here's BRIAN AKERS. 00:25:45.159 --> 00:25:46.929 Indeed, welcome back to Winning in Retirement. 00:25:47.229 --> 00:26:21.378 I'm BRIAN AKERS. I'm financial advisor from AKERS Financial Group. Here with me today is Nick Malidi. He's a financial advisor from AKERS Financial Group. We're hosting our show, a radio podcast called Winning in Retirement. Show today is called Answers to your questions. Nick and I have been doing seminars and talking to people, and when they come in, they have lots of questions. And so today, we thought we'd talk about those questions, give you some of those answers, but get you the general concept of how we do it at AKERS Financial. So as we start here in the third quarter, I'm going to start Nick on the question. A question we get is, where will my retirement income come from 00:26:22.009 --> 00:26:29.210 right. That's a great question. Again, another loaded question, if you will. 00:26:25.069 --> 00:26:35.990 There's guaranteed income and your non-guaranteed income. So, where will your income come from? Well, what what are some of the guaranteed sources of income that our clients have? 00:26:36.680 --> 00:26:45.910 Depends where they work. Yeah, and then and Social Security and age and if they're going to draw it right away or wait, so those are two sources, and then there's you have to create some of the guaranteed pieces too. 00:26:46.299 --> 00:26:57.789 Yeah, so you have social security, pension, and as we know, pensions are starting to dwindle down a little bit, and then your personal investment savings withdrawals, or 00:26:57.880 --> 00:27:12.299 or like if some people have real estate, they have rental income. That's nice to have. I have some clients with mineral rights; they get checks from that. Okay, so there are other sources. There might be part-time jobs. There might be-you never know. There's always something. Yeah. So 00:27:13.140 --> 00:27:17.819 more or less the the you know your your side portfolio, but those aren't you know always guaranteed, right? 00:27:17.849 --> 00:27:22.130 Especially with real estate, you may have a renter or you know may not, but 00:27:22.549 --> 00:27:26.599 yeah, that's the guarantee part, right? Hey, they're guaranteed that they're still there. Maybe they'll pay. 00:27:26.839 --> 00:27:27.319 Yeah, right. 00:27:27.769 --> 00:27:47.049 But what do we? You know, we say we call that the three-legged stool in retirement planning, which is starting to look a little bit more like the two-legged stool with pensions going away. So our clients are having to rely more on withdrawals either from their portfolios or what they've built with their savings, if they've purchased real estate, 00:27:48.039 --> 00:27:59.470 especially when you talk about pensions and Social Security, the thing is that once you're retired 10 to 12 years, you're going to feel the pain that their cost of living adjustments don't keep up. 00:27:56.349 --> 00:28:03.329 Social Security might give you a 2.6% raise, and then take it all away from Medicare premium. 00:28:03.660 --> 00:28:27.410

Thus, you're at the same flat as inflation is to make things higher. Might be your pension, might be maxed at 3% simple interest. Where's the other money going to come from? If you haven't saved and built up other portfolios to be able to access later in life, there will not be somewhere to go? Your only answer would be to shrink expenses once you're retired, which is not a plan. That's not that's not what we want our clients to do. 00:28:27.859 --> 00:28:46.210 No, we want our clients to you know have to at least maintain their lifestyle in retirement. They don't want to decrease their lifestyle or bring it down. So again, how do we do that, and what do we do when we're drawing from that leg of the portfolio? 00:28:47.470 --> 00:28:47.980 From the leg? 00:28:48.369 --> 00:28:49.569 Yeah. Well, the three-legged stool. 00:28:50.349 --> 00:28:54.279 Taking blood from the leg. What? What? Why are you using legs? A leg of a stool? 00:28:52.359 --> 00:28:54.279 The 00:28:54.279 --> 00:28:55.210 leg of the stool. 00:28:54.279 --> 00:28:55.210 Not the 00:28:55.210 --> 00:28:55.900 leg of the client. 00:28:56.079 --> 00:28:57.880 No, not the leg of the client. We don't want to do that. 00:28:57.940 --> 00:29:02.460 All right, but you have three legs, and I'm not really a big fan on three-legged stools. They're still wobbly. 00:29:04.470 --> 00:29:04.829 Just saying. 00:29:05.069 --> 00:29:05.579 Yeah. Okay. 00:29:05.910 --> 00:29:06.930 I know. Yeah, 00:29:07.079 --> 00:29:08.369 we are sitting on a four-legged stool. We're 00:29:08.549 --> 00:29:24.799 sitting on four-legged stools, so that's actually makes me feel more steady, just like retirement. So four-legged stools are pension, Social Security investments. The only thing other leg we could add would be just the fact that you have no debts and that your bills are low, and that's the steadiness. Is that your monthly need is 00:29:25.069 --> 00:29:25.160 less? 00:29:25.640 --> 00:29:34.039 How do people get there? And that's called lifetime of living within your means. You got to win in retirement by winning today. 00:29:30.619 --> 00:29:39.710 Winning today is where you know where your money's going. You know that you're going to save money for your future self. 00:29:37.369 --> 00:29:46.809 You're going to have these things in place. This quarter is about where will my retirement income come from? All right. So someone does not have a pension. 00:29:47.650 --> 00:29:52.509 We are going to build an investment portfolio. What is the AKERS away? How do we go about doing this? 00:29:53.079 --> 00:30:03.960 Well, multiple ways of looking at it from the client standpoint, but we want to build that core portfolio because. Of course, we want our money and assets to grow. We want to keep up with inflation. 00:30:04.259 --> 00:30:05.940 Okay, so that would be in stocks 00:30:06.809 --> 00:30:09.660 or some form of equity-based and stock-based. 00:30:09.690 --> 00:30:17.430 You know, ETFs. Sure. Right. We want to be diversified, but then we also like to add sleeves or satellites, if you will. Right. 00:30:17.789 --> 00:30:35.240 That will maintain or that will that will hit those goals that we're looking for. Income is definitely an important one, and essentially, you want to be able to recreate part of your paycheck in retirement. So we want to carve out some money for growth, keeping up with inflation, and then also income. 00:30:35.869 --> 00:30:49.000 And then addition to that, we also want to protect our money as well. But again, at the end of the day, we need to know exactly what it is that you need, so we can make sure that we diversify appropriately and we customize it for you. We call that a customized income plan. 00:30:49.509 --> 00:31:45.640 Yeah. So the idea that the portfolio design has to start with what risk level you're taking, and so our process of figuring out where your money is now and seeing are you taking too much risk or too low a risk. Now, in implementation, we don't buy bond funds. We believe that the lower risk or the protected portion needs to be protected, and so the AKERS way would be a combination of the risk in the market-that's core and satellite-and then we would have the. We use fixed annuities, we use treasuries, use CDs to layer cash. The cash you need this this year is going to be in cash, and then we're going to layer out or ladder out another piece of making maybe 4% and then we get into the 5% and then we have some tied to the market with downside protection as we build the protected piece. So the AKERS way is to take the least amount of risk to reach your goal, not the most amount of risk to reach your goal. 00:31:45.819 --> 00:31:46.269 Absolutely, 00:31:46.599 --> 00:31:55.059 it's a big deal when it comes down to making your money last a lifetime. Is like the Warren Buffett thing you said the other day. Is one of the big rules is not to lose it, right? 00:31:55.239 --> 00:31:59.679 Yeah, and he also says it is insane to risk what you have for something that you don't need, 00:32:00.400 --> 00:32:38.240 and that's the idea of how much you have in stocks, and should you put all this in stocks, or should you start day trading certain stocks, trying to double your money when you're fine where you are? If you have a portfolio to risk, why not it be a small sliver, not the whole thing? When you do studies on retirement planning and financial planning by living within our means, controlling the downside makes your money last longer. If you lose 10% you got to make 11 just to get back up. It's sort of like if you fall in a hole, you got to get out of the hole. And what happens in investments if you're in a hole, you got to earn that money back. So some of the 00:32:38.390 --> 00:32:53.500 if you're in a hole that lost 50% You don't just make 50% to get back to where you were. You got to make 100% to get back up. It doesn't seem fair, and so that's why we don't want to take that extra risk to where you have to

go back to work or work somewhere else. 00:32:53.740 --> 00:32:59.319 Oh, and of course, and do you really want to sell stocks when they're down to provide you with income? 00:32:59.740 --> 00:33:07.859 No, but that's what some portfolios are. They're set up where they they put money in the S p5 100, and then they're then they're taking monthly withdrawals out of the S p5 100. 00:33:07.888 --> 00:33:08.459 It goes down, 00:33:08.759 --> 00:33:10.559 and we sell it. 00:33:08.759 --> 00:33:11.579 Sure, that in the seminar how the math doesn't work. 00:33:11.730 --> 00:33:13.170 That we call that sequence of returns. 00:33:13.470 --> 00:33:21.920 And sequence of returns is that your volatile income goes with the volatile investment it's in. We say forget that. Let's put our income into the stable side. 00:33:22.220 --> 00:33:33.440 Let's get our income in cash for the next year. If the market's up, we pull, we fill up it, fill up the cash from there. If the market's down, we fill it from the protected side. So we don't have to hit something when it's down. 00:33:33.710 --> 00:33:42.940 Yeah, I look at it as that cash really buys you time for that market to come back, for those stocks to come back, and then when they're way up, then we go back to that gardening comment. It 00:33:43.089 --> 00:33:44.019 takes some winning off table. 00:33:44.140 --> 00:33:44.799 We harvest. 00:33:45.278 --> 00:33:53.048 Yep, we harvest, we trim, prune. What other comments can we make there? Shear if it's sheep, right? We shear it off, 00:33:53.500 --> 00:34:03.450 right? I know we're going to gardening now. I'm thinking of our last show where I was talking about the farmer and you know his manure and fertilizing the crops and all that fun stuff. So had to 00:34:03.450 --> 00:34:12.119 bring that one back to you. I did. That's on our website, akersfinancial.com. You can go to the retirement talk put on by Nick and myself. Four interesting jokes on his manure. 00:34:13.110 --> 00:34:15.269 Right. Oh, do you really want me to say it again? 00:34:15.329 --> 00:34:15.449 Yes, 00:34:15.539 --> 00:34:16.050 you're going to have to. 00:34:16.380 --> 00:34:32.780 Okay. Well, saving and investing is much like a farmer who's fertilizing his crops, he has he has manure, right? Yeah. And if he lets it pile up, yeah, and doesn't do anything about it, it really starts to stink. Yeah. But if he spreads it around, good, it still stinks, right? It 00:34:33.139 --> 00:34:35.119 still stinks for a little while if the wind's blowing. 00:34:35.269 --> 00:34:36.530 But then eventually things start to grow. 00:34:36.800 --> 00:34:45.429 So depending on where you live, you might experience that. But generally, the idea is this: don't leave your pile of stuff all by itself. You need to diversify. 00:34:45.579 --> 00:34:45.670 Well, 00:34:45.789 --> 00:34:49.000 we're in Harford County, and occasionally when the wind blows, 00:34:49.599 --> 00:35:09.570 absolutely. All right. So moving right past that, we've been talking about where would my retirement income come from. Well, the idea is this: we don't know the first time we meet you. To know where you are, and then we build out the answer. We have our general ways that we do it. Now we don't make you do it exactly our way. 00:35:06.300 --> 00:35:35.960 What we do is work through your situation. We have planning software, we have spreadsheets, all kinds of things to design where the source of funds, where the money will come from. Some of this I like to call milking the cow, where you're bringing the milk out and living off of that, it's a good thing for us to do. The core portfolio begins it all. Now, sometimes we buy income annuities that give income for a lifetime, and that's a big deal-income for a lifetime, right? Absolutely, 00:35:36.079 --> 00:35:57.699 absolutely. One of the first introductions I had, what, 15 years ago, 16 years ago, as an advisor, when learning about annuities, and the term that stuck out to me was, you know, we are going to hire an insurance company to essentially pay you income for the rest of your life, and I thought that was an interesting way of looking at 00:35:58.239 --> 00:35:58.329 it, 00:35:58.630 --> 00:36:03.750 right? So you're you're hiring that insurance company to recreate that paycheck for you and potentially your spouse. 00:36:04.590 --> 00:36:14.429 If you look on your 401k statements, you'll see a fix a new a full annuitization of the 401k with an income stream. We don't recommend that. 00:36:11.309 --> 00:36:20.579 We don't believe in full annuitization because you basically will have no inheritance if you choose that one. That's one of the annuities that we don't like. 00:36:20.760 --> 00:36:23.599 Or you're giving away the cow, or you're handing over the cow at that point. 00:36:23.719 --> 00:36:26.960 Well, it's like you sold the cow, and then they're going to be on payments. Yeah, 00:36:27.110 --> 00:36:27.320 right. 00:36:27.380 --> 00:36:31.849 They're going to they're going to milk your former cow and give you a portion of that milk. 00:36:32.000 --> 00:36:32.809 But then you don't have the cow. 00:36:33.710 --> 00:36:35.449 I rather keep the cow, milk my own cow, 00:36:35.869 --> 00:36:36.260 exactly, 00:36:36.619 --> 00:36:37.250 and have the cow. 00:36:37.639 --> 00:36:38.570 So you do it on your terms. 00:36:38.840 --> 00:36:43.630 Yes, and that would be versions of the annuities with writers and stuff without giving them the cow. 00:36:43.900 --> 00:36:44.590 Yeah, exactly. 00:36:44.650 --> 00:37:03.300 And that's me the annuity in real words. These are tools that are out there. So there are some annuities that we use, and we have a previous show about that. Also, you go to our website, AKERS Financial, and right on the radio podcast, hit that, and you can find that annuity talk we just did. Lots of information out there. 00:37:00.900 --> 00:38:14.219 Today's show is we're talking about retirement income. Nick and I love

talking to our clients about their situations and what's going on there in their life. This is what we do for a living, so that you don't have to try to figure it out all all on your own. We love to help you. We really do love doing this kind of job, planning for anything that goes on in retirement is is might not be your favorite thing. You might not not care about the Roth, the IRA, the withdrawal, the taxation, Social Security, when to apply. You want someone to guide you, and that's exactly what we do at AKERS Financial Group. At AKERS Financial Group, you're not you're not going to be sold something, regardless of whether you need it or not, what's going to happen at AKERS Financial Group is we're going to design a retirement income plan based on your unique financial fingerprint. We'll begin there and we'll grow your advice into the situation that you need to meet make your cash flow meet exactly what your bills are. It's a retirement plan that's based on this unique financial fingerprint, and that determines where your money goes. It's not about us; it's about you. So give us a call at 833 win retire, or go to our website@akersfinancial.com. Do you have an exit strategy? We'll explain in a moment. 00:38:15.510 --> 00:38:27.349 You're listening to a pre recorded show. Welcome back to Winning in Retirement. Call 833 when retire now to schedule a visit with Brian and his team and begin winning in retirement. 00:38:27.889 --> 00:38:29.989 Once again, here's BRIAN AKERS. 00:38:30.800 --> 00:38:46.150 Welcome back to Winning in Retirement. I'm BRIAN AKERS from AKERS Financial Group. Here with me today is Nick Melidi. We're both financial advisors from AKERS Financial Group. Nick's been doing over 36. No, I've been doing it for 3636. I'm 39 years now. You are. You've been doing it for 16 years. 00:38:46.239 --> 00:38:48.070 I guess I started when I was five. At that point, 00:38:48.400 --> 00:38:49.420 or you started when I was two. 00:38:49.869 --> 00:38:50.440 Yeah. Right. 00:38:50.590 --> 00:39:15.960 No, no. I started when you were two. Maybe we're not telling ages. We're just telling that that there's a little bit of experience here from the microphones. Thank you for listening to our show, Winning in retirement. This show, this is the fourth quarter. This is the winning time in every game when you finish the job. You finish. You score the final points. You put the points on the board. You get to go to locker room happy because of of the effort. So we're really going to try to do that with our process today. 00:39:16.769 --> 00:39:27.530 What we're doing right now is talking about our radio show that we've been covering the whole time, it's called answers to your questions. Nick and I have been doing some seminars, and we are talking to people. 00:39:25.099 --> 00:39:46.090 And they say, "Well, what are we going to do when we meet? And then we say, "We're going to talk about your situation, your questions. And so, what we wanted to do is bring up some of those questions and talk about it, so that you guys can understand it's okay to have questions. Write them down. Get ready and call us and set up that free time to go over your exact situation. It's a big deal. 00:39:46.570 --> 00:40:11.730 Yeah, it's great, and the seminars are wonderful because we we talk high level about the things that affect everybody, right? Taxes, longevity, inflation, market risk, right? That's pretty much covers everybody who. Wants to retire, but we can't give those blanket statements. We need to sit down with our clients after that. After we talk about those key concepts and see how do they apply to their individual situation. 00:40:12.269 --> 00:40:21.559 Exactly right. So this quarter we're covering. Do you have an exit strategy? An exit strategy. So that can bring up many different things, right? 00:40:21.949 --> 00:40:28.789 Right. It makes me picture like the the pilot, the cockpit that just like pulls the thing, pops out, right? That's probably not a good exit strategy. 00:40:31.250 --> 00:40:36.230 All right, I would not have chosen that 1am. I a passenger on that plane, or where am I at when you're having the pilot, 00:40:36.619 --> 00:40:39.260 right? Himself. 00:40:36.619 --> 00:40:40.280 Exactly. No, no. So obviously, you want to have. It's not a 00:40:40.340 --> 00:40:41.559 passenger plane. 00:40:40.340 --> 00:40:41.559 You're talking about. You 00:40:41.559 --> 00:40:45.610 don't want to just pull that cord and go. You want to have a plan. You want to. I was thinking 00:40:45.789 --> 00:40:57.880 exit strategy is like which door I go out. I wasn't there popping out of the plane, but exit strategy could this. It could be this. You work somewhere a long time. You need a yeah. Golden parachutes are great for for executives, right? 00:40:58.389 --> 00:41:13.800 So exit strategy is where you think about how am I going to retire? When am I going to tell them? Do I have enough money? If I work to june 30 next year, do I hit another mark? Do if I work to March, do I get that bonus? 00:41:09.929 --> 00:41:36.469 Do I work to january 5 to be able to get another week's pay, the lump sum? What's the strategy for you? And that's all part of this planning. So when we're talking about your situation and having that first meeting initially, we do want to hear about where you work. Want to hear what your thoughts are and what people at your office have been retiring. What's their process? And so we can try to build the exit strategy that's right for you. 00:41:36.800 --> 00:42:02.489 Absolutely. When they retire is important because it determines how much you're going to get from Social Security. Well, what age and what month that you start collecting that that income? And yes, I've had clients who they they hold off and they wait for that bonus, whether that be quarterly or the annual bonus, because that's going to be maybe that's their you know a little bit of their income protection for a year, right?

We want to put some of that in cash and protect it from the market. 00:42:02.849 --> 00:42:49.030 Well, it's like if they had a great year and they're like, "Oh man, I need to work to March to get that bonus before I retire, and I can't tell them I'm retiring after I get the bonus, so then I have to retire May, June, and I want to be retired by summer because I want to travel. These are just normal conversations. So your thoughts you're having about retirement and all the little things, what to do? Yes, it's an exit strategy. It is part of financial planning. Might not be something a broker might do, but it's what planners do. We also look at taxes. Taxes make a have a big deal, especially that year you retire, where you might get paid out sick leave, and all of a sudden they take 42% withholding, and you're worried about oh they took too much out and then we tell you oh you'll get it later when they actually do return again. Just trying to balance all these things out. 00:42:46.809 --> 00:43:03.449 Sometimes we start Social Security the January after you retire so that it won't affect you, especially if you retire before 67. There's just some technical things you got to work out. So having a strategy helps us get the right answer for you because we don't know exactly what's going on in your life, so we know. 00:43:03.630 --> 00:43:17.280 Well, that's right, and that's why it's important that we are as detailed as we can be with the data, and that's why we ask for those tax statements so we can plan for that. We we wouldn't want to jump our clients into another tax bracket, and why 00:43:17.400 --> 00:43:19.829 pay more tax when you don't have to by planning? 00:43:20.010 --> 00:43:20.280 That's it. 00:43:20.670 --> 00:43:29.900 I mean, one of the common questions as well, and I, you know, is you know, I don't want to spend a lot or I don't want to pay a lot in tax. How do I keep from doing that? 00:43:30.170 --> 00:43:32.809 Absolutely. What buckets do I reach into? 00:43:32.960 --> 00:43:34.849 All right, so I got a question I did not prepare you for. 00:43:35.030 --> 00:43:35.539 Oh no, here we go. 00:43:35.719 --> 00:43:38.329 Nick loves to be the guide for your golden years. 00:43:38.690 --> 00:43:39.679 How would you explain that? 00:43:39.949 --> 00:43:40.449 Golden Girls, 00:43:40.960 --> 00:43:42.070 Golden Years, Golden 00:43:42.280 --> 00:43:44.050 Years, ah, the guide, the 00:43:44.260 --> 00:43:47.260 guide for the Golden Years. What does that mean to Nick Malini? 00:43:48.369 --> 00:43:54.369 So I think that your well, your Golden Years-they call them the Golden Years because they're supposed to be some of the best years, 00:43:54.699 --> 00:43:55.630 winning in retirement, 00:43:55.809 --> 00:43:56.800 winning in retirement 00:43:56.920 --> 00:43:57.519 is a gold. 00:43:58.090 --> 00:44:07.920 And I say, you know, it there's the there's a financial part about it, and then there's the you part about it, right? And and what are you going to retire to? Are you going to retire to the couch? 00:44:09.239 --> 00:44:10.260 And you won't retire for long, 00:44:10.530 --> 00:44:12.150 right? Correct. 00:44:10.530 --> 00:44:13.710 You're going to retire to sailboat, sail the world. 00:44:14.460 --> 00:44:15.389 Yeah, I can't. 00:44:15.719 --> 00:44:17.219 No, if 00:44:17.579 --> 00:44:20.789 it's another person's sailboat and they know what they're doing, I could do a sailboat, right? 00:44:21.329 --> 00:44:30.079 But I I just think that that's a it's a really fun conversation because I love hearing what our clients want to do when they get done working, and then we need to consistently just follow up on 00:44:30.949 --> 00:44:53.110 it. I when you're telling a little bit of that story, I was thinking about this one guy. He he retired, and we bought he bought every toy you can dream of. He bought a motorcycle, bought a jet ski, bought a big boat, bought a new car, bought a convertible, bought an RV, and all of a sudden, all this money went out there. And his wife's just shaking her head, and then she's like, "Well, basically, how long you going to have that? Right. 00:44:50.769 --> 00:45:11.010 And like, like it's like Jack and Jill, right? And and like, Jack, how long you going to have that? And I don't know. And then Jill says, "Well, we got to get rid of something." And he goes, I can afford it right now, right, Brian? And I'm like, sure. And then a few years later, we had to sell. The hard part is that they put a lot of money into depreciate the depreciation, 00:45:11.070 --> 00:45:11.849 depreciating game, 00:45:12.030 --> 00:45:29.480 yeah, depreciating assets. I should go slower. Depreciating assets, and so when you put 100,000 into things, all of a sudden it's worth 75. It's not the best investment, but is part of that golden years of the fund, the using the money. I usually say that if you have a big dream, we can do a couple of them. We can't do them all. 00:45:29.960 --> 00:45:30.710 Yeah, it's hard 00:45:30.739 --> 00:45:31.130 to do them all. 00:45:31.400 --> 00:45:31.880 You know, makes a 00:45:31.880 --> 00:45:32.210 lot of money. 00:45:32.360 --> 00:45:53.260 There's the word value, and everybody uses that word differently. But what's what's valuable to you, and if it enhances your quality of life, then perhaps the depreciation is okay on a small level. But most recently, had a client retire, and you know he started learning how to play guitar because it's a dream that he always wanted to do. And I thought that was great. 00:45:53.409 --> 00:45:53.949 That's safe. 00:45:54.340 --> 00:45:55.989 That's it is safe, right? 00:45:56.320 --> 00:45:57.280 And hopefully 00:45:57.519 --> 00:45:59.409 not very expensive. 00:45:57.519 --> 00:45:59.409 Well, depending on I don't know. 00:45:59.679 --> 00:45:59.710 I 00:46:00.099 --> 00:46:12.750 have one guy. He actually the guitar got went real well. Then he started bringing the band over. Yeah, created a band. Then he had to

put a soundproof room for his wife to let him stay in the house. Well, it got more and more expensive as he got better at it. 00:46:12.989 --> 00:46:15.539 Right. Well, when you're retired, you do have a lot of time on your hands. 00:46:15.900 --> 00:46:20.070 Yeah, and so that's why you might see some of the bands around being older retirees. 00:46:20.400 --> 00:46:21.980 Probably that makes a lot of sense. 00:46:22.550 --> 00:46:24.619 Yeah, it works out sometimes. But I 00:46:24.710 --> 00:46:36.739 think that that's again that's just great because you're you're able to accomplish your dreams, and you know that sounds a little corny, but that's that's what we do, and and we can map that out, and we say, hey, guess what? You can go accomplish your dreams, and you can go do it right now. 00:46:37.610 --> 00:46:55.239 Yeah. So this quarter we're talking about exit strategies. We're talking about getting things ready and getting you getting you able to retire, retiring with purpose in mind and having what you're going to do is a great way to retire because we can set that money aside to handle it. What we do typically in retirement is we want to meet before you retire. 00:46:55.900 --> 00:47:09.750 We want to meet two to four weeks right after retirement to blend this all together, get everything in alignment, and then review what's going on. Get the monthly checks going. Make sure that you are okay. Is the idea of the whole exit strategy. 00:47:10.320 --> 00:47:30.139 The questions that we have lead to answers, and ultimately a financial plan that we use and change along the way. We go from can we retire to ready to retire to retired, and that's when they come back in the office. They sit in their chair, but instead of leaning forward and a little anxious, they're leaning back. 00:47:30.409 --> 00:47:32.389 They might be wearing their Hawaiian shirt. It's going to say flip 00:47:32.510 --> 00:47:33.889 flops. Yeah, flip flops, 00:47:34.280 --> 00:47:55.570 and you know they're retired. You can see salt light. Hey, how you doing, everybody? And it's different from the the one coming at 530, they just raced from work. They have all their stats. You see, they're flushed, flustered, and it's like, I got to be able to retire. So it's a different mindset. And when it's done right, you can retire and stay retired, and this money can last a lifetime. That's a big deal. 00:47:55.900 --> 00:48:15.269 It really is, and it's it's a beautiful thing when when the client is you see the guard down, and you can you can see the peace of mind and the confidence. And I don't think I use that word enough, you know, because we want to promote and we want to instill confidence in our clients. So when they do ring that bell in retirement, they're good. But I do have a question. 00:48:15.570 --> 00:48:15.719 Sure, 00:48:15.900 --> 00:48:21.320 have you ever had a client that just retired, just happened to me, so that you hadn't met with yet. 00:48:22.130 --> 00:48:22.400

Oh yeah. 00:48:22.849 --> 00:48:28.130 So I brand new client. They sat down and I said, "So what are your goals? 00:48:25.309 --> 00:48:28.880 And said, "Well, we just retired this past Friday. 00:48:29.210 --> 00:48:30.889 Yeah. Now they want to plan for. 00:48:30.949 --> 00:48:31.849 And now they're ready to plan. 00:48:32.150 --> 00:48:47.380 Oh, I've had a few of those, and a lot of times they retired because they hit a certain age. Some event occurred, or their job said you're retired. Sometimes they choose it, but normally they haven't done the process we've done. Right? They don't have. 00:48:44.769 --> 00:48:53.559 They don't know their their budget. They don't know they're really okay. And I said, well, tell me. They got to get the information. They got to meet faster. 00:48:53.949 --> 00:48:54.010 Yeah. 00:48:54.219 --> 00:48:59.050 They got to meet every week or two just to get all that information together to see if they really are okay. 00:48:59.380 --> 00:49:00.659 Yeah. I mean, I 00:49:00.719 --> 00:49:04.110 had one where I told them, "No, they're not okay. They they need to find other jobs. 00:49:04.349 --> 00:49:06.449 What did you do? 00:49:04.349 --> 00:49:06.449 No, pretty much. I 00:49:06.570 --> 00:49:13.260 pretty much had to say I had to be honest. I said,"These are what the numbers say, and you're telling me you want this. This is what it produces. 00:49:10.440 --> 00:49:13.260 What are you going to do? 00:49:13.530 --> 00:49:31.460 And that's, I think, that's a great point that you just said, Brian. And that's what I think differentiates a good advisor from a not so good advisor is having those difficult conversations and being honest. Sometimes you have to save more, spend less, get more risky, right? But having those honest conversations because we know and we're looking out for your best interest. A 00:49:31.639 --> 00:49:45.760 lot of times, it's my wealthier clients that need to work longer because they want to stay at that same high, high level of income, and you got to have a lot of money saved. So if you're if you're making half a million a year, the numbers to save are pretty high. 00:49:46.210 --> 00:49:46.960 Absolutely, a lot of 00:49:46.989 --> 00:50:03.179 times that they might not have done all that. So what we've been talking about today is answers to your questions. Typically, these are questions as you enter into a financial planning arrangement, and you talk with a financial advisor like someone here at AKERS for. Nick, thanks for a very good show. Appreciate it. 00:50:01.500 --> 00:50:03.179 No, it was a great 00:50:03.179 --> 00:50:03.239 day. 00:50:03.570 --> 00:50:38.420 We look forward to meeting you here, you guys here in our office. Today we did cover these answers. We would love to cover them for you individually. We do look forward to meeting with you. We want you to win in your retirement by taking this opportunity to begin planning with us at AKERS Financial to schedule your free meeting with one of our team of advisors, go to our website at akersfinancial.com. Scroll to the schedule a meeting section and let us know you like a free meeting right there. That's acresfinancial.com, or you can call us at 833 when retire. 00:50:33.079 --> 00:50:38.420 That's 833 W I N R E T I R E. 00:50:38.719 --> 00:50:56.980 We'll give you a call on Monday to schedule a free in-person meeting with one of our team of advisors. Start planning for your retirement now. Go to akersfinancial.com or call us at 833-946-7384. Thank you for listening. I'm BRIAN AKERS from AKERS Financial Group, and we want you to be winning in retirement. 00:50:57.159 --> 00:51:13.289 You've been listening to Winning in Retirement with your host BRIAN AKERS of AKERS Financial Group. AKERS Financial Group offers securities through Arcadio's Capital, an SIPC and Finra member firm. Advisory services are provided through Arcadio's Wealth. AKERS Financial Group and Arcadios do not share any common ownership. 00:51:10.710 --> 00:51:28.699 Neither Arcadios nor AKERS Financial Group provides tax or legal advice. Advice given on winning in retirement is general in nature, and one should seek further advice from their financial advisor, broker, attorney, and/or tax accountant before investing. Be sure to read each prospectus carefully to understand all the risks associated with each investment. 00:51:25.820 --> 00:51:32.960 Examples and scenarios shared are meant to be for illustrative purposes only. Past performance is not indicative of future results.