Your tune to the Haven Financial Group Radio Show with your hosts Larry Kolvig and Kim Carigan, your guides to weekly retirement confidence. If you're interested in protecting and growing what you have, let us be your financials safe Haven. The phone lines are always open at six one two five oh four eighty four hundred. Now get your financial questions ready because the Haven Financial Group Radio Show starts now. Good morning, you're listening to the Haven Financial Group Radio Show.
I'm Larry Calvig, Founder and CEO of Haven Financial Group. Our number is six one two five zero four eighty four hundreds. Or you can always reach us at Havenfinancialgroup dot com to see all of our upcoming events educational events. Uh so, join us there, And it's a new year. Welcome and with the new year, we have a new co host. I want to introduce you to Kim Kerrigan. We look forward to this new year and Kim welcome. Hey, Thank you, Larry. I am so happy to be
here and so happy to be with Haven Financial Group. Can't believe it's twenty twenty four? Can you hard to believe? I know it. I trust that you had great holidays, wonderful family time it always goes by too fast and great to have all four of our girls home and now back to college. Well, I have to tell you I am a Midwesterner like you. Obviously. I grew up a little south of you in Saint Louis, but all my family is in that area, and we just had a fabulous holiday
season as well with everybody there in the Midwest. And there's nothing quite like nothing quite like those family holidays for sure. Yeah. So, Larry, thank you so much for having me and inviting me to be a part of this very successful Haven Financial Group radio show. And I know that twenty twenty four is going to be a great one for all of us. Let me
tell everybody a little bit about me. I have a little background. I have worked with financial advisors like yourself for a number of years and have enjoyed every minute of it and learned a lot, which we hope that we can share with the listeners some of what I've had a chance to learn and certainly all the expertise that you have. My most recent job was with Bloomberg, the business network. I did radio shows for Bloomberg as well as television.
So there may be some people out there who say Kim Kerrigan. That name sounds familiar to me related to business, so Larry, I have had a chance to do a bit of that, but I am looking forward to learning more about finances and retirement from you. Well, I look forward to it as well. We got a new year and many many good things and topics in store for us, and great to have you really is well, thank you very much. Listen, I hear at Haven Financial there's some really big
news for twenty twenty five. Or you guys are in the midst of expansion. We are. We're in construction phase for the third time in nine years, which we're very fortunate to be expanding and building. We just add another advisor that has quite a few years experience as well, so we're going into the new year with lots of optimism. We look to help lots of people. Of course, as you may know, that through the educational process is
where it all starts. So yeah, if you come in, we're currently under construction, but we should be rare in to go in that part by March first. Well, tell everybody because it is a new year, and maybe we've got some new listeners out there who haven't learned what they should about Haven Financial Tell everybody about the firm. How many people do you have employed currently and where are you headed for twenty twenty four? Thanks Kim, just
kind of give you a little bit of a history. I started with a captive company some years ago. Great way to learn the retirement business. For a while. I had a fancy office and a big glass building and fancy waterfalls and just a great place to get started years ago. But after a while, after we built out retirement plans, I noticed a trend of upper management, corporate management making changes that after a while it was not in the
best interest of the client. It was more the corporate profits and the checkbook, and I knew I wasn't going to change that. So nine years ago I started Haven Financier Group. The goal was to always have different personalities to cover all the retirement aspects, not just some of them, but really all of them. And in nine years we have built that. You know, we do wealth management, yes we do, but Lance is our CPA,
carries our estate planning attorney. Glen handles Medicare, healthcare, etc. Long term care, and you know, I referred to it as the retirement puzzle pieces. So often there's not the coordination and retirement that there should be, and people are piece mealing or they're just not talking about certain things and just
quite frankly not getting the attention. So you know, with the professionals that we have on board, the new Kyle and Greg are who head up the investment team the CFPS, we're really able to do a very thorough, thorough build out of plans for retirement, not limited in scope, but again having those multiple personalities, the number one compliment I get is, Wow, it's so nice to have everybody in house and a lot of people just go from
one office to the next. So it is what we offer, you know, Larry, I almost look at it like when you go to a doctor's office. It's so nice if you can have everything done under one roof. And this very much feels that same way to me, and it's convenience for your customers. But even more importantly, it is that that crossover, like you mentioned, that's so important so they can coordinate with everybody there in the office one stop shopping if you will, and I know you've used that term
before. I want to let our listeners know if you have any questions for Larry or Haven Financial Group the team you can call six' one two five zero four eighty four hundred, or you can visit them at Havenfinancialgroup dot com to submit your questions and by the way, we may just answer those right here on the air. Why do you think it's so important, Larry, for people to have a financial advisor, especially as they approach that retirement age.
Well, interesting enough, I just read a study that's sixty two percent of US adults admit their financial planning needs it needs improvement, and only thirty five percent of Americans work with the financial advisor. That tells me there's a
disconnect there. There's a lot of people that are just winging it. There's other studies that have been done by you know, Jack Bogel, the founder of Vanguard, that says, you know, over a period of time, there's accept a certain percentage that that you will do better with somebody helping you simply for the fact that you know, helping you save and helping you budget and you know, your retirement planning and certainly taxes is a big part of
the discussions that we have somebody that can rebalance and really take the time and the effort and put it into individual situations. It's not a one glove fits all. A lot of people are not getting the attention they should. And retirement, we believe, is more than just a pie chart that says I have stocks, bonds, and mutual funds. It's a season of life and they call it the golden years. We want to make sure that they are
the golden years. And it's never too early to start planning. And with the old saying a failure to plan is a plan to fail, we want to help people avoid that. So Larry, here we are. It is early in the year and we're looking out at the Haven Financial Group Radio show
for twenty twenty four. Tell our listeners, who we know will come back time and time again, some of the things that they can look forward to here on the radio show a variety of different discussions, not just me as a personality, but I like to incorporate Lance our CPA and I carry our state planning attorney. You know, when it gainst Medicare season and open enrollment.
I think it'd be very helpful if Glenn could kind of lay out he's one of the top Medicare people in the state of Minnesota, and just talk about all these various topics. And you know, none of these topics are necessarily fun and exciting, but they're very important. They're important decisions and just helping people navigate through the retirement process because oftentimes I've heard this retirement thing can be complicated. Our job is to simplify it to the best of our ability.
You know, I think people forget you know, you only require one I mean, unless, of course, maybe you're an NFL player and then you retire apparently a few times. But you you as an individual, probably will only retire once. And you got to get it right right, Yeah, you want to make you want to do it right the first time, because retiring two or three, four times is probably not the most exciting. So again, simplifying it, and it starts with the educational process. That's
our approach. It always has been an approach. We have a laid back approach, but we know it's extremely important. Absolutely. Let me remind our listeners again if you have questions for Larry or the Haven Financial Group team, the number is six one, two, five zero four eighty four hundred, or you can visit the website. It's Havenfinancialgroup dot com. All right,
go right ahead, Larry and to all the listeners out there. For those wanted to take advantage of one on one complimentary consultation, there is no cosse. Feel free to reach out to us at Havenfinancialgroup dot com or at six one two five zero four eighty four hundred. Again no cost, complimentary. Take a peek under the hood to make sure things are in good order.
All right, Larry, thanks very much. Still come in your way here on our broadcast this morning, we're going to talk about myths when it comes to retirement. You're listening to the Haven Financial Group Radio Show. Don't straight too far searching for more financial nuggets and wisdom. The Haven Financial Group Radio Show will be right back. Stick around. You're listening to the new and improved Haven Financial Group Radio Show, where we bring you comprehensive weekly financial wisdom
from the professionals. It's all about helping you solve retirement problems so you can make your nest egg last. Welcome back. I'm Larry kalviing and you're listening to the Haven Financial Group Radio Show. Our number is six one two five zero four eighty four hundred or visit us online newly revamped website, Havenfinancialgroup dot com. Now let's talk more Kim about Haven Financial Group if you don't mind,
sure absolutely. By the way, I have to tell you, I love the idea that we're in a new year and you guys have a new website, you are expanding there at Haven Financial. I mean, this is a big year for your organization and the perfect time for anyone who's listening to reach out and to make sure that they're taking the perfect steps and their expansion
when it comes to their retirement planning. So I would highly suggest that you take Larry's advice the number six one two five zero four eighty four hundred, or you can reach out online It's Havenfinancialgroup dot com. So Larry, we've got people who are listening and they decide, yep, twenty twenty four is the year that I need to really start getting down to the nitty gritty when it comes to my retirement planning. Or maybe they just want to revamp what
they've already done. They reach out to you through that telephone number or through the website, walk me through what the process is next, because I think for some people it's a little bit daunting and that may be holding them back from even making that call. Almost definitely. You know, the number one reason that people probably don't go in or visit with a financial person is the fear of trying to be sold something, and that's certainly pretty much the case
in a lot of situations, and that is not our approach. If a listener calls in and get scheduled, or if they come through one of our educational workshops, which they're all on our website. We do Medicare one oh one, investment classes, maximize social security and taxes. Folks that come in through those. We're going to walk through the same process with everybody, and
it really starts what we call phase one, which is the discovery. You sit down with one of us and it's just getting to know each other. You know, I always say we're not the perfect fit for everyone, but you get to know us, We get to know you. We ask lots of questions, we take lots of notes just to get familiar with your situation. From there, if one chooses, we'll come up with some recommendations and strategy kind of phase two, if you will, and if one sees the
benefit of that. Phase three is called the implementation process, where we start putting things into reflect and getting things where you know, maybe where they should be and then just put it on the shelf and leave it, which a lot of people have done for years. It's you know, monitoring and adjusting. And this is where I see people not getting the attention they deserve and they're paying somebody to do or work for them, yet they're getting maybe an
hour to an hour and a half or less for a whole year. And that's just not suffice in retirement. And you know the passion where the passion comes with our staff. And you know, I got to give credit to our staff because you know, we really pride ourselves on chemistry, relatability, and that passion comes from you know, we were through the two thousand to two thousand and seven to two thousand and nine real estate bubble. I remember
the starts rebuwing. There were three out of five seniors that had to go back to work or stay in the workforce. You know, lives got ruined financially, you know, they really did. And so that's where it all starts. And you know, if people are prepared and they get the attention that they deserve, we can avoid some of those pitfalls. We don't control anything. We only control what we put in place, and again that's what
that's what our goal is is to help get something in place. Sure, you know, when it comes to retirement, I mean this is people's lives that they've worked for all their lives and their money and this is very, very personal. So I think for most people who are thinking about retirement, they're looking for an advisor who has the same kind of values they have.
And I think most people's values are to go into retirement and be comfortable and to live there out there dreams that they've had all their lives, and a lot of times that's with family and friends. So talk to us a little bit about how you grew up in your value system and how that might aligned with some of the people who are listening right now. Yeah. Well, I grew up on a dairy farm in Candy Oheigh, Minnesota. I'm sure most listeners don't even know where that is, but it's by Wilma in west
central Minnesota. And I was very fortunate to had parents that raised me with ethics and morals. And you know, our family adheres to faith, family and friendships, and we do our best. We have problems just like anybody else does. But you know, we want to adhere to those practice what
you preach. That's what's important. And when you convey confidence to people, when they when there's the relatability that you know, we don't like a stuffy office by any We like to have as much fun for those that are familiar. My wife is twenty seven years as the office manager. They just love to have a ball. And you know, just last week we had Sarah from Savage come in and then she goes, it's so fun here. My
last place was just wasn't fun. And we like that because when you when you create that vibe or create that aura within the office, you know, if it gives clients confidence, if you if you pay attention and listen people, the clients see that it reduces their anxiety. You know they're not you know, I just had a lady in last week. She lost her husband five months ago, and her husband handled everything and she could tell she was really nervous. But when she left, she goes, this felt really really
good. And I was referred by her sister. So that's the stuff that really is fulfilling about this job and working with people, and you know, you know, we see things through the lens of retirement. You know, our average client is you know, you know, fifty five to seventy years old. But at the end of the day, we're not limited in scope. But that's really what makes that's what really makes our office fun and enjoyable for what we do. Well, I love your passion for what you do,
and I love your your detail. You know, you really have a spotlight on the details of people's lives, and I think that's so important when people are turning over such a precious time. Two people in your own you know, they're they're essentially turning this over to you and saying, please, can you help guide me through this very precious time. So that's really terrific. Let's talk about your commitment, because you were very clear to me when
we first chatted that you feel very committed to this work. You feel very passionate about it. You feel very strongly about family. So talk to me again about your commitment. Well, my commitment, in our commitment will continue to be educating a lot of folks in all of these variety of retirement areas, or I call it all the retirement puzzle pieces, so that education is
a big part of it. And you could say financially, I'm committed just because my wife and I have four daughters and one will be in PA school and the other three will all be at different colleges. So let's say I'm also committed because I'm gonna be working for a while and it's a good thing I enjoy at my job. So but the beauty is, you know, and it's why I want to get other personalities on the show throughout the year,
is I'm just the quarterback. You know, it's football season, it's the playoffs now, and I'm just a good quarterbacks surrounded by a lot of good players. And that's what I love is the chemistry that we have, the respect that we have, and that's hard to find in today's world. And as I we bring on new staff members, that's of the utmost importance because you know, our clients are those that come in for the first time.
That's what they see, and we want to make sure that you know, they're seeing a company that actually cares, has a smile on their face and is not bitter like unfortunately so many are in the world that we live in. You know, it's so important today to find a good advisor and someone who can really navigate the nuances of retirement, again, something that most of us don't know how to navigate because we only do it one time. Now. A team like yours is dedicated to that, but they're also dedicated
to some real strong values. Almost definitely, they have values instantly. It's not a secret. It's not by accident that we all share the same types of values, otherwise that those individuals wouldn't fit into the grand scheme of things. So yeah, you know again, faith, family, and friendships. That is our commitment and we want people to see that and certainly understand that.
You know, customer service is of the utmost important. We're not perfect, but we want to pay attention to detail and we want to make ourselves available. I always say, if so many many times people have questions, Larry, I don't want to bother you with questions. Well that that is
our job description. Because if you have questions and questions don't get answered as it relates to retirement or anything, well then that's going to create fear and anxiety, and we want to alleviate that or minimize that, especially for retirements. Again, taking the time to actual listen and care obviously really important. And you guys have fun and I like that. We do, we do, all right. We want to invite everybody who's listening to sign up for
our complimentary meeting with Haven Financial Group. And the way you do that is you call six one two five zero four eighty four hundred at six one two five zero four eighty four hundred, or you can sign up online at Havenfinancialgroup dot com. Again, Havenfinancialgroup dot com. Be sure you sign up for that complimentary meeting. All right, Larry, let's go to a break and when we come back, let's talk about some of those myths, shall we.
Let's do it. You're listening to the Haven Financial Group Radio Show. Ready to find your Financial Safe Haved. Your dream retirement is in reach. Don't go away. The Haven Financial Group Radio Show will be right back. You've worked hard for your money, but do you know how to make it work hard for you? You need a team with experience, vigilance and a strategy to help you live the retirement you deserve. Find your financial safe HAVED
with Haven Financial Group Today. Welcome back, and I'm Larry Kolvic with the Haven Financier Group Radio Show. Our number is six one two five zero four eighty four hundred, or visit us on our newly revamped website, Havenfinanciergroup dot com where you can see all our events, lots of tools and calculators and lots of good information. So I'm glad you're with us today. You know, I love Larry that you say education really is the start of retirement planning.
Well it is. I mean I've heard somebody say I forget who it was. Education is the potential for power. It's what we do with it that matters. And you know, that's why a lot of our workshops are full, whether it be maximized Social Security or Taxes and retirement or whatever, because you know, people have questions. They're in an untar territory that they've never been before. You know, not everybody likes this stuff, nor is the expert, and they're just seeking the information. And you know, we
just had Jake and Deborah from Lakefield in last week. He was he's a retired contractor, she's a retired teacher now and they go, Larry, we came to your workshop five years ago and we never did anything. But that's why we're here today. And you know, whether it's our approach is this I mean, if we you know, if somebody has pressing needs, we'll be here today, you know, god willing a year from now, five years from now. We do have a no pressure approach because we want people
to feel comfortable and that's extremely important to us. So again, yes, education is very important and it's always been important, but that's how we learn, and for a lot of people it's a learning process, absolutely, and it certainly is a reason to give you guys a call to get that educational process started in your experience, Larry, and we know you have a lot of it. What do you think the secret to a successful retirement might be?
Well, usually when this question is posed, it's usually has to do with money. But what I found over the years is that, you know, a successful retirement means definitely different things for different people. You know, yes, it takes money to do things, go on trips with a lot of retirees like to do, but it's more to it than that. It's having a quality of life, good health, family time, spending time with
folks, family we weren't able to in the working years. So there's lots of different definitions to a successful retirement, and only individually can we really answer that. But Again, there's also a lot of misconceptions that, oh, the golden years are going to be perfect, everything is going to be simple. There's a lot more to it than that, because a lot of times people spend all these years working and all of a sudden, now they retire
andciety. Now what you know, we need to have a sense of purpose. So again there's a lot of definitions to a successful retirement. Now getting there, it takes a plan or should should have some sort of a plan. You know, not everybody gets lucky to have a successful retirement. It's it takes discipline and it takes diligence. Absolutely. So let's talk about how Haven Financial Group provides, you know, these these tools that people need to
reach their goals. Yeah, and again in January this most of our education is maximize social security. You know, one of the the largest income stream for retired Americans is social security. And it's why we teach on these classes and how taxes affects that. And you know a lot of times people are they hear all this highly politicized on both sides, that there won't be any
social security. I better take it now. And you know, we we go through all the different nuances of social security and when you can take it, what makes the most sense? Can I work prior to full retirement age? Just understand the social security systems so you know they can make an educated decision. Almost seventy percent of Americans turn it on right away at sixty two, which is shocking to a lot of people. You know, only about
one to two percent of Americans wait till seventy. Now, our goal is in job is not to tell everybody to wait till seventy to make an education. It's helping them to make an educated decision, whether they're individuals or if they're a married couple, on what makes the most sense. So it comes right back to this educational process that ironically, through these workshops, you know what one's expectations would be is there is no cost to these classes. We
do them at colleges, community education settings, libraries. We provide workbooks and materials that all that they get to take home with them, where they can take notes and ask questions. And by the way, listeners can register online or they can call six one two five four eighty four hundred. We even encouraged that for our existing clientele. Because laws change, rules change, sure
and they will continue to change. And if nobody's keeping you abreast of these changes, then how are you going to find out you maybe aren't on your own? So again it comes right back to the educational process. Sure. Absolutely. Now you've told people how they can register, how full do these do these courses get? And how you know urgent is it that people reach out and register pretty quickly? Here most of our classes are somewhere between twenty
five and fifty people. Again, Dakota County Tech. We've gone there for years, a variety of the different libraries and community education areas. You know, our offices in Burnsville, and we have people that come from quite a ways away. I just had one that came in from Woodbury, retired and veteran who came in off the radio show and he goes, I've been needed to do this a long time. And I listened and he goes, I like your approach, So again online or give us a call to register.
Again. There's no strings attacked, there's no pressure, there's no cost for a consultation. It's you get to know us and we get to know you, and hey, let's just see if we're compatible or not. If you attend one of these seminars, Larry, Then do you automatically qualify to come in for one of your free consultations or can you just attend a seminar for some educational purposes Maybe you're not ready for that next step. Great question,
Kim. Both we have folks that come in and once we teach a class for an hour and a half, they're like, I need to come in and take advantage of that compliment or complimentary retirement readiness review. Others that say I'm not quite ready for whatever reason, stay in touch with me or I'll reach out. It's what whatever somebody's comfort level is. And again, there
is no cost for that one on one consultation. Uh, it's it's it's with our staff members here and again all of them are very knowledgeable and very helpful. And again, as I mentioned earlier in the show, it is a process. It's a proprietary process that that takes time, and that time completely it is determined by the individual. All right, let's tell everybody the telephone number again. It's six one two five zero four eighty four hundred,
or you can sign up online. It's Hanfinancialgroup dot com. Larry, do you have any idea When people go to register, are they looking at something in the near future? When is the next course? We have about four to six different classes per month, and so we have them throughout January. We haven't throughout the course of the whole year. Again, if you go to Havenfinancialgroup dot dot com or call in, you can see all on the calendar, all of the different classes and the venues and the locations. So
again it's ongoing throughout the entire year. Okay, terrific. And again I know that you mentioned this off at the top of this segment, but I just want to go back to this very quickly. For folks, successful retirement is different for everyone. So when people are listening, you know, they may be thinking to themselves, well, and maybe I don't qualify for this,
maybe I'm not ready for a successful retirement. Explain to people again you know how this varies well and again, most often people think of money, and yes, it takes money. But I can tell you you know, we've kind of done a disservice in the industry in my opinion that well you need one million or two million, or four million or some number. When we've seen it over the years that we have folks that have not nearly that amount of money and they're going to be just buying. They have a pension,
they have social Security, they've managed expense as well. And then those that have a lot of money or in the portfolio, and they're going to run out of money. Because it's all relative to the individual and for some people it's not about money. So everybody's situation is different. And you know, I always say beware because sometimes people say, well I don't have enough. I'm just gonna waste your time. I don't have enough to really worry
about. Well, you know, we don't have any Some companies have minimums. I'm not saying that's right or wrong. It's not for us, but because what we've found is everybody should have the same opportunity, the same education. And whether you have a little or a lot, this applies to you. You've worked hard all these years for what you do have, small, medium or large. It starts with just getting started and don't feel bad because you think you're not as don't have as much as the Jones is. That
is the wrong approach to have what you have? What is what you have? Well it is Larry has said, folks again, this process all begins with education, so you won't want to miss one of Larry's seminars so that you can begin that educational process. During the course of one of those seminars, you can learn more about the social security system. You can talk about spousal and surviving benefits, how about minimizing taxes, all kinds of personal benefits.
You can learn more about those if you sign up for one of those free seminars, and you can do that at Haven Financial Group's website. It's Havenfinancialgroup dot com and you can call to set up a complimentary review. It's at six one two five zero four eighty four hundred. All right, Larry, We've said it before and I'm going to say it again. We're getting to those myths about require about retirement that's coming out right after the break.
You're listening to the Haven Financial Group Radio Show. Up, don't straight too far searching for more financial nuggets and wisdom. The Haven Financial Group Radio Show will be right back. Stick around. You've got questions, We've got answers. Tuned to the Haven Financial Group Radio Show with your host, Larry Kolbig and Kid Carigan. Now back to the show. Welcome, back. I'm Larry Kolviig, founder and CEO of the Haven Financial Group, and you're listening
to the Haven Financial Group Radio show. Our number is six one two five zero four eighty four hundred, or you can always learn more and reach out to us at Havenfinancialgroup dot com. Now, let's talk more, Kim about retirement. Absolutely, let's talk about and we've been talking, We've been teasing this throughout the entire show, but let's talk about the common retirement myths. Now, you must hear all kinds of things from current clients, from prospective
clients. Give us some ideas of some of the myths that you hear, and for that matter, how you respond to them. Yeah, there's some of you hear about the you hear about quite often. One is you can't count on social Security being here for years. It's been highly politicized, and let's face it, the Social Security Trust Funds does have problems, but at the end of the day, it's still here. There probably will be changes. It's what we talk about in our classes. Another myth is you'll you'll
be able to work as long as you want. And people always say, well, I'm gonna work, you know at least past sixty five. Yet fifteen percent actually never get to sixty five. So it's not as always about what you think you're gonna work till because life happens. Health happens. Another one is you'll spend less and pay less in retirement. Not so true for married couples. A lot of times people think, well, the expenses are
gonna get cut in half. Not usually okay. Another one is you know they we as I mentioned earlier, creating a magic number, like if you get to two million, then you're gonna be just fine. Or the four percent rule if you just abide by that, well I can show you where that doesn't hold water anymore and everybody's situation is different. Or this is one that Glenn ar met Care expert, Medicare is going to cover all your health care and retirement. That is not the case. It's we do lots of
Medicare education, We have access to all the health care lines. You know, for people bridging the gap with health care, we can help in that area as well. Or you know, another myth is you're going to live in the same place throughout through retirement. Well what if those needs give out a little bit and you can't get up the steps and you've decided to go to one level living. So there's a lot of different myths out there and
a lot of them just are not true. And you know, advice that i'd give to somebody that you know has kind of struggled with some of these myths is, you know, take have somebody take the time to walk you through your situation. Uh, get more education. You should require more time from whoever you're working with. And if you're not getting that attention, you should be getting that attention. I find that people are just they're not and
I don't know why they're not, because they're paying for it. So you know, that's that's what I would say for that. So in your opinion, Larry, when you're sitting down with a potential soon to be a retiree, what do you think the role of a financial advisor should really be?
Number One, Educate, spend the time, explain things. I love when somebody says to myself or the staff, you're the first person that's ever explained it, you know, Lance, our CPA gets it all the time because we're very much into forward thinking tax planning, not just getting your taxes prepared
and especially in retirement. Taxes are a major part of retirement, and all the time lance is getting nobody's ever explained why I'm paying this tax or this much tax, or you know every year I have to pay so much in
tax. As well, if somebody spent the time with you, maybe you could have the right withholdings so you wouldn't have these situations where you owe a bunch of money or you know, on your investments, you know, getting talking through why you're doing what you're doing to avoid knee jerk reactions the biggest you know, there's a lot of psychology that goes with money, finances, investments, and what people end up doing is they get over confident the market's
good and then it goes the other direction and all of a sudden they make these knee jerk reactions. And I know, part of what our investment team does is I don't want to say counseling, but to some degree counseling because people make split decisions. They want to time the market, and they end up finding themselves and making decisions that they shouldn't have to make. So, you know, the two big questions I get, do we get or do I have enough money? To retire or when when will my will my money
run out? Well, as we walk people through our process, you know, we really hone in on the expenses and the income and all those various things so we can get an accurate depiction of how somebody's position, not just kind of paid play the guessing game, and really factor in everything to the into the equation, not just peace mealing. And you know, somebody tell me that their financial person doesn't factor in inflation, Well that's just silly,
because inflation is a game changer. So we learned that this year, didn't I have answering questions. That's going to give folks the confidence in what they're doing. And with confidence, there's this sense of you know what, I'm on top of this, and so and so is helping me, and that's what our goal is. Six one two five zero four eighty four hundred.
That is our phone line or even financialgroup dot com. Larry, Choosing a financial advisor is certainly an important step to starting your retirement planning, no doubt about that. Talk to me a little bit about some of the big mistakes that you see people making as they start that process. For some I see overconfidence where they think they're in good shape, but they've really not done a
real good job of detailing expenses. And you know, over the years a few times I've you know, we bite our tongue and like, what are you guys doing retired? You're going to run out by the time you're seventy five years old, And there's just kind of the they're just kind of winging it and not really getting into specifics, which we want to be as accurate and specific as possible. Otherwise you're just dealing with numbers that really don't mean
anything. And you know, the biggest questions, as I mentioned earlier in the show, do I have enough to retire? Or when will I run out? You know, there's some people that worry about money, it's just their nature and it's like you have plenty and others that are the opposite of that. So it's really honing in on your on your pluses and minuses and really what keeps you up at night, And you know, at the end of the day, you know there's a willingness for risk, need for risk,
and the ability to take risk in your portfolio. A lot of people are unaware of what they're doing. And then when we have a bad year like last year, there's knee jerk reactions or they're I can't believe the market did what it did. So you know, our team will stress test your portfolio to make sure you're in the right place at this stage of life, which at this stage of life for a lot of those we visit with the
element of time becomes that much more important. So, you know, an interesting question that I've asked over the years to newly retired folks is what has been the hardest thing for you in retirement? And overwhelmingly the answer to that question is, Larry, I worked all these years and got a paycheck,
and now I don't get a paycheck anymore. So we help people create their own paycheck because retirement income is a necessity for most people, of course, and where do you draw that out in the most tax efficient way possible? What accounts? So then it comes back to the tax planning, and you know, you worked hard for all these years, you don't want to necessarily give Uncle Sam a tip on the table. And so that's why the tax planning as it relates to income, these are all the areas where it's just
a kind of a trickle down effect. And if you don't get it right, you could be giving more away of your money than you know you're given away. Sure, so, Larry, I know there are people who are listening right now and they're thinking to themselves, hmm, maybe twenty twenty four is the right year for me to come forward and talk to the folks that have in financial group. Or maybe they're thinking, maybe it's not time yet. What do you think is the perfect time for someone to come in and
to chat with you or some of your advisors. Well, time is of the essence, you know. You know, human nature is procrastination and for a lot of people they're good at that. And you know, I think of a state planning, you know, should you have a will or a trust or this, and you know eighty five percent of Americans don't have a competent estate plan. Yet everybody is thinking about it, thinking about it and
thinking about it. They just never get it done. So, you know, while it's fresh in your mind, having a deeper discussion in this as it relates to any of the retirement puzzle pieces. If you know, if you're wondering about Medicare health care, or am I in the right things, or you know, along those lines, I asked the question almost in every meeting, what are you paying for the services you're getting? Seventy five to eighty percent of the time the answer I get is, that's a really good
question, Larry, I have no idea. Well, this is twenty twenty four. You should know what you're paying and what you're getting. And if you don't ask the questions, don't be shy, don't be timid. They're working, whoever is working for you, they should be accountable for it. So again, protect what you have if you're married, for you, your spouse, your family, or if that isn't as you know, the legacy in the future, whether you're charitable or if it's going to the kids or
the grandkids. There are no automatics today. Make sure that it's going to go where you want it to go. Absolutely all right, everybody listen. Reserve one of the few remaining complimentary meetings that are set aside each week by calling six one two five zero four eighty four hundred. You can sign up online. It's Haven five Financialgroup dot com. Again, that's Haven Financialgroup dot com. And be sure you take the steps because Larry has just told us
time is of the essence. Now is the time, and those those complimentary seminars, they fill up very quickly. Larry has made it clear maybe your biggest goal for retirement this year should be education, and the best way to get started is to make that call or attend one of those registrar or to register for one of those seminars. Larry, this has been fun and I've learned a lot, and I'm going to look forward to twenty twenty four and all the things that we can learn together. I am too as well.
I appreciated being with you. I'm Larrykolvick with the Haven Financier Group Radio show. Again. You can reach us at six one two five o four eighty four hundred or Havenfinanciergroup dot com. Have a blast week and we'll look forward to visiting with you next week. Investment advisory service is offered through Guardianwell Strategies
LLC. Haven Financial Group and Guardian Well Strategies LLS are not affiliated companies, and investments involve risk, and, unless otherwise stated, are not guaranteed. Please consult with the qualified financial advisor and or tax professional before implementing any strategy discussed herein and comments regarding it safe and secure. Investments and guaranteed income streams only refer to fixed insurance products. They do not refer in any way to
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