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Good morning, and welcome to the Haven Financial Group Radio Show. I'm Larry Kolvig, Founder and CEO of the Haven Financial Group. Feel free to give us a call six one two five zero four eight four zero zero or online Havenfinancialgroup dot Com. Ask us questions, check out all the events that we have coming up, the educational events, very informative education is very very important as we try to navigate, you know, through the new year, and folks are looking
at retirement and they're worried about this and worried about that. Kim, good to be with you. A lot to talk about here this morning.
Well, it's great to be with you, and that is so true. You know.
These last couple of weeks, Larry, I think we've just had some really great informative programs for our listeners talking about the new year and some of the things that maybe they need to be cognizant of, some different rules, some changes in some of the laws. So really been some great shows, and today I know will be nothing different. We're going to talk about inflation and how that impacts retirement.
It seems to be, Larry, you know, preparing for inflation has to be one of the most difficult things that one can do when you are looking out and planning a retirement portfolio.
Inflation is a game changer, it really is. And I'm I'm always amazed, even after all these I've done this, how many don't plan for inflation. Now it seems like we've been talking about inflation, high inflation all for several years, which we have, but you know, it erodes the purchasing
power of the dollar. A lot of retirees are on a set guaranteed income, you know, so setting realistic targets and creating those stable income streams it can be very difficult to do, and it's a very very important decision. It is a big, big part of retirement.
Of retirement, absolutely, and we hope that anybody who's listening, and if you are getting ready to start a portfolio, or if you already have one and maybe you're working with someone else, we just hope that you will go in and you will ask that individual, or as you sit down, you will remind that individual that you have a concern related to inflation and you want to make sure that you are inflation proof. If you will, let's take a look at some of the subjects for today's show.
We're going to talk about monthly inflation reports and your retirement, and then we'll talk about understanding your savings targets and how that relates to inflation, the value of predictable income, and then finally we'll talk about some of those retirement myths and we'll try to debunk some of those. So let's talk first right off the bat here monthly inflation report and your retirement just how important and how can these monthly inflation reports impact or retiree.
Well more over time, it's really going to affect And now we saw a little bit of an ease in December, so there's room for their optimism and hope there, but it still remains extremely high, although it did align pretty well on an annual basis in twenty twenty four with what they kind of thought at about five point seven percent. But it's the the core factors that are really the problem. You know, food prices continue to rise, and you know
this has been going on a long time. Even with inflation come down a little bit, we don't see those food prices change. And you know, we did see a decline in energy prices, which is a good thing that helped stabilize the CPI in the most recent month. But
where this really affects retirees as their household budgets. And it's why in our discussions with pretty much anybody that's whether you're planning for retirement or a long ways from retirement, you know, really coming up with a good idea of do I have good liquidity, do I have investments that have risk? Do I have principal protection? But really honing in on do I have money to bail me out?
If so, I don't have to sell investments. As you know, these budgets, they just become really, really difficult to deal with because prices have not gone down. And that's a real problem. Boy.
I do have to tell you, Larry, you know, I'm at the grocery store on a pretty regular basis, and I feel confident someone in your family is as well, and it just feels like we are not getting any relief there at all. I feel like that's the place that I notice at the most. And as you said, those food prices continue to rise. Let's talk a little bit about how inflation affects retiree social security. How exactly does that impact.
Well, the dollars just don't stretch as far you know what it was, you know, the last year, the year before. It just doesn't keep up with it. You know, we saw a two point five percent increase in twenty twenty five to your social security, you know, far less than the previous years. It is still an increase, but that doesn't keep up with the with some of these other costs,
which again causes a lot of problems. Now, I think what we might see is, you know, the new administrations in it looks like the Fed's going to hold rates in January. You know, there's a there's a wait and see effect on the tariffs on imported goods, and you know what these tax cuts for corporations, the things that the Trump administration is saying they're going to do. What will the ramifications be. We'll have to kind of see. But you know, that's why it's so important to have
a plan. Plans are going to change, they're going to change. Life happens, Money things happen, Inflation happens. Returns are sometimes better, sometimes worse. But again, having a good balance, diversified, efficient approach becomes that much more important. And let's we didn't talk about shelter. You know, shelter costs remain highly elevated, you know, increase in last year of seven and a half percent. Affordability challenges. I see people that are house locked,
that wanted downsize, but they're stuck. Sure, so we'll also see what happens to the interest rate environment and when it comes to mortgages. So, like always, there's a lot to be determined. Again, just be vigilant, plan, talk through the plan. And that's where a lot of people just are missing it. They're just they're not getting the attention they deserve and that's unfortunate.
So, Larry, let's talk about when you have potential clients or current clients who come in and sit down across the table from you and they say that this is something they are very concerned about. And obviously this has been in the forefront of a lot of people's minds in the last couple of years because we've.
Seen such high costs.
Talk a little bit about what you guys do to try to help to keep retirees from being affected by increased inflation.
Well, anybody that's listening, or anybody that comes to our classes. We just had some well attended classes this past week. Again, we're going to take them through the same Proprietary Haven process, if you will, where we're gonna do a discovery get to know you, you get to know us, and this is whether you have very little or a lot or anything in between. You know, kind of get a feel for that, what you've done, what you like about what you're doing. What don't you like where you think your
plan lacks. Come up with some strategies and recommendations, and then help with the implementation if we get there, and monitor and make adjustments. And really what that looks like is do you have too much risk in your portfolio? Do you not have enough risk? You know? Do you have enough liquidity, you have enough savings, do you have anything that's protected? Stress tests the portfolio to avoid, you know,
unfortunate circumstances. I personally think the market is going to be highly volatile in the next six to nine months. I hope I'm wrong, but if I'm wrong, that means
it was better and I like that a lot better. So, you know, I think it can see that the interest rates on CDs, money markets, high yield savings, I think you're going to continue to see them four plus percent, which it's nice to see because now for the last couple of years, for many years, it was just pennies on the dollar, and just come up with the strategy. It doesn't have to be complicated. To ensure your plan
is well thought out, it's well prepared. You can make adjustments on the goal, but not if you're not even having discussions now. If you're not having discussions now and haven't had discussions, what's going to change in twenty twenty five, only you can initiate the change.
Sure, absolutely so.
If you're not sure if your plan is prepared for whatever may be coming next, or maybe you don't have a plan and you need to get started, we want to invite you to give Haven Financial Group a call the number six one two five zero four eight four zero zero. You can call sit down a free consultation. There's no expense to you talk about what it is that you'd like to do in your retirement or bring your plan in. You heard Larry just talking about the
stress test that they can put a plan in. Maybe you've been working with someone else and you're not getting exactly what it is that you need.
Six one two five.
Zero four eight four zero zero is the number. You can also go to Havenfinancialgroup dot com.
All right, when we come.
Back, Larry, let's talk a little bit about understanding your savings targets in twenty twenty five and how those could possibly be affected by inflation. You're listening to the Haven Financial Group radio show.
Don't go too far. We're gathering more important insights and retirement pays Devin The Haven Financial Group Radio Show. We'll be right back. Stick around. You've got questions, We've got answers. Your tune to the Haven Financial Group Radio Show with your host Larry Kolvig and Kim Karagan. Now back to the show.
Good morning, and welcome back to the Haven Financial Group Radio Show. Thanks for listening. Feel free to give us a call at six one two five zero four eight four zero zero or Havenfinancialgroup dot com with any questions concerns. Set up a time to come in. It's laid back, comfortable atmosphere where we can get to know you and you can ask all kinds of questions. You know, our job description as retirement advisors is really to answer questions.
So probably questions some of you have had for many, many years, yet nobody has taken the time to answer them. So we find that all the time. Kim, how long have you had that question? For a long time? Well, that's where we need answers to questions. That's why it's important.
Absolutely.
Our underlying theme today's inflation, and we're talking about some of the things that inflation might impact as you reach retirement or if you're in retirement, and I think it's pretty easy to understand Larry that it is hard. You know, if you're in your fifties and you're saving for retirement right now, it might be hard to hit some of those targets because prices are higher than they were ten
years ago. So let's talk about some of the things that you have to sort of keep in mind and the targets that you need to hit as you approach those golden years.
Yeah, without a clear savings goal in timeline, you know, it might not become reality as much as you want it to. You know, it takes a well crafted plan and really specific things to look at it. I want to point out is get a good understanding of where your expenses are, you know, estimate those retirement expenses, and that's everything. If you're a golfer, if you like to do, what are your goals? You know, healthcare factor that in travel.
You know, we always think of the you know, the things that you need because you need income for the things you need number one housing, healthcare, but you also want you want income for the things that you want to do. So getting a real good idea of what that looks like, you know, common starting point is to plan for at least up to eighty percent of your pre retirement income annually. They always preach to the young people, you know, get a budget. Well, it's no different for
retirees because so many times people underestimate. And when we do projections, and by the way, you know, determining that retirement age, what is the timeline is that five years from now? And then consider life expectancy. You know, we said that with a lot of folks that they you know, mom and dad lived well into their nineties, maybe one hundred. You know, what does that timeline look like? Is it twenty thirty years? And we can put a category in there.
It's called in our projections, our Monte Carlo projections and anything else category, and well might be buffer in twenty to thirty grand depending upon who it is, because there's always something else, you know, besides the grandkids, or you know, a recent furnace that I had to put in my house, so you want to factor that in the timeline. So important. And then the idea that you know, reasonable returns. You know, here we're an investment firm or retirement service, financial services firm.
And when people hear that, what are reasonable returns, right, Well, any financial people can puff up numbers that we can you know, numbers or numbers and stats or stats, and we want to be realistic. I think that's just unrealistic returns as you project the growth out, I think it's just a waste of time. We want to be reasonable. We may use six percent pre retirement, four percent post retirement plan for the worst and hope and pray for the best. If it's better, then you plan great. But
look at all your income sources. Income some would call it mailbox money. Income is the name of the game. Income for the things you need. So you have income for the things that you want. Let's factor in all those options, whords are going to come from and for how long?
Absolutely?
And then then we go back to some of those retirement expenses that you really have to think about. And we've talked about this so many times here on the show. Healthcare costs, you know the healthcare costs, obviously taxes, these are some of those, you know, continued shelter. These are the kinds of expenses that maybe people aren't thinking about because when they weren't retired, that was part of maybe coming from their employer or you know that was that
was just dealt with in a different way. So talk to us a little bit about some of the things that you guys, you know, explain to your clients and work with your clients to make sure that their health care costs and their taxes are being taken care of.
Yeah, it seems like healthcare is always underestimated.
You know.
I had a couple from Lakeville in newly retired this week. They met with me and we're helping them out on investments and glens with helping them out on health care and medicare. And while they go, we never factored in that amount monthly amount for the two of us for health care. We hear that all the time. Healthcare is a major expense that you need to budget for in retirement.
We can help you with it, making sure that you're in the right place, the right plan, the right coverage based upon doctors, you know, prescriptions, whatever it may be that you're dealing with. And they always get to a lot of times people get confused that healthcare cost in long term care costs, they're kind of the same, and they're not the same. You know, healthcare and medicare is not long term care. And unfortunately, I've had a lot
of it seems like a lot. Maybe it's not as many, but it just seems like a lot of clients that I've recently had to go into a nursing home or check mom and dad into a nursing home, and that can decimate in a state if you haven't planned for that, you know, and there's fifty to seventy percent of us that are going to need some sort of healthcare a nursing home. If you haven't looked at newer ideas out there that Glenn was on our show here a couple of weeks ago about hybrid long term care or asset
based long term care. Maybe you've only familiar with the traditional long term care. If you're not having those discussions now, it may not be feasible for everybody. You should be having those discussions. How will it be paid for? And what is your plan? Is that the kids to take care of you? Good luck, that's not going to happen up and it might, but he usually does.
Yeah, exactly.
You also talk again about taxes and how important it is to not just have your taxes prepared, but to be planning because if you're paying a big bill. Then don't pay that big bill again. Let's figure out how to get around. You have to resolve your tax issues, not just live with them.
Yeah, we're coming into tax time. Lance is our CPA in house. He's getting all geared up. He gets giddy about taxes. We've had him on. He does get giddy about taxes and wants to make sure Uncle Sam doesn't get any more than they deserve. But tax planning leads to successful tax preparation. There should be no surprises, or
very few surprises. And that's where throughout the course of the year, we'll sit down Lance will we'll have his tax discussions, which is added value, and you know what, there'll be very few tax surprises when it comes time to own Uncle Sam or getting a few dollars back. You know what I would would like to say is, you know, when it comes to you know, we had people come out to our classes and then they maybe choose to come in or choose not to come in.
You know, I'm just going to address the human nature piece of this that you know, sometimes people feel ashamed, they might feel timid, they might be scared to come in, ashamed to come in. Oh my goodness, I just haven't done anything. And you know, I'm embarrassed that I don't have what the Joneses have, and you know or what they come in and as a couple, and you know that they pinky promised each other when they came in that they don't let them sell us anything when we
come in, don't let them sell us anything. We take people through a process that if you're getting sold something, you're probably not getting all the information. You know what. We want to educate people. We want people to feel comfortable with that time that will spend, that will give them confidence. They won't feel so overwhelmed. You should not feel ashamed, you know what, small medium, in larger, little situation or complex, there should be comfort knowing that whoever
you're talking with is listening, listening more than talking. And that's sometimes the one thing that doesn't happen is that you know, people want to talk talk and not listen, and we want to listen to what people's goals and aspirations are.
Something else, though, Larry, that you are very clear about frequently and I know that you'll stand by this now. Transparency when it comes to what you are paying for this kind of partnership is imperative.
You should only be getting transparency. I shouldn't ask the question eighty percent of seventy five eighty percent of what you're paying and what you're getting And Larry, that's a really good question. We have no idea that just shouldn't happen today. Well, I'll be the first. We'll be the first to say nothing's free. But when we work with folks, they know exactly what they're going to get. The expectation
is going to be set. Part of our process is though as much as this may seem like it's complicated, this retirement thing can be complicated. What our job description that Haven Financial Group is to simplif five things, make it clear. If it's not clear, explain it again, and have fun with retirement planning even though they not be It might not all be fun. Enjoy the ride. Enjoy the ride, get there and continue to enjoy the ride.
If we have talked about something that really clicks with you, If you have questions, or you'd just like to sit down with someone and learn a little bit more, give the folks that Haven Financial Group a call six one two five zero four eight four zero zero. They can talk through this with you. It's six one two five zero four eight four zero zero. Coming up next, we're going to talk about the value of predictable income. As
Larry has said, it's all about the income. This is the Haven Financial Group Radio Show.
Ready to find your financial safe Haven. Your dream retirement is in reach. Don't go away. The Haven Financial Group Radio Show will be right back. Are you worried that your financial strategy might be missing something, Well, you're in the right place. Larry Klvig is back and ready to help you find your financial safe haven.
Good morning, and welcome back to the Haven Financial Group Radio Show. I'm Larry Kolvig, founder and CEO of the Haven Financial Group, coming to you each week talking about retirement, the complexities, the state of the affairs, the economy, the market, and all the retirement puzzle pieces that go into a successful retirement. So again, feel free to give us a call. Kim Income, Income and income.
It's like location, location, location, Holy, this is a little bit different. Well, I gotta tell you you know, having a steady income in retirement is not an easy thing, and that's something that has.
To be built for.
But boy, talk about a way to reduce your stress if you can learn how and where a steady income will come from. And that's certainly something that the folks ed Haven Financial Group can talk you through.
So let's talk about it, Larry.
What are some of the sources that people can build through their working life that can promise them and income when they hit retirement.
Yeah, you spend all these years, you know, putting it in your four oh one K, four H three B whatever you put it in and then all of a sudden, retirement gets here and oh my goodness, Now what do we do? Where does the income come from? This is a new stage of life and it's different, and we want to look at all the sources of the money and then figure out what is the best means so we to take it out in the most tax efishent
way possible. You know, we literally send out millions of dollars the first and fifteenth of the month for our retirees that need retirement income. You know, what is your source? So how much will you get from social Security? If you're a married couple both of you? What makes the most sense there? You know the IRA's and four ones and roth iras, or maybe you're blessed to have a pension, just this last week, I had a couple in Man.
They didn't have a huge portfolio, but they had about six thousand dollars in pensions and about six thousand dollars in Social Security and income was they had no worries, They slept at night, there was very little concern because it was guaranteed fixed income and that that can ensure that your expenses are going to be covered with with
with certainty. It can give you a better quality of life because you're not worrying that you're not going to meet the budget or overspending may lead to anxiety and that's no good, and that's we want to stress free goal in years to the best of our ability. So planning these things through in a thoughtful way and again taking taxes into the equation because this might be a new stage of life that you never entered, so you want to do it the right way.
You bet, Okay, So we're gonna let's talk about it.
Some of these sources and I know, you know, we think you say iras and for one case.
Not ever social Security, but not everybody has.
Those, right, But the money's got to come from somewhere. Maybe it's a brokerage account that is in the market or not in the market. Maybe you have too much risk and you shouldn't have all your money at risk in the market with all the volatility that may come our way. Maybe you've explored annuities now annuities can be used to guarantee a certain income stream as well. I teach classes on this. You can go to our website Hevenfinancialgroup dot com to see when the next one. I
have the truth about annuities. They can be highly effective. They don't have to be used to control market. Bill about latility to maybe protect protect the principle if you're using it for income, just be aware of some key terms that I would throw out there that are annuitization. What am I giving up? Will my beneficiaries get anything? Is it irrevocable? Do I have to live a certain amount of years to get my money back? Do I give up control? You know? Just do you want variable
income or fixed income? You got to look at understanding what the benefits are. And there's no perfect investment. Know the pros and the cons to discuss the benefits or maybe just maybe maybe it's stacking some CDs or some layered CDs or bond ladders or you know, income focused mutual funds. We like people to look at all the options because remember this income may need to last ten, twenty thirty years. Longevity risk is real and it's one
of the major fears that people have. When am I going to when am I going to outlive my money? Will I ever outlive my money? Or will I be okay?
You know, what do you say to people who walk in Larry and say, well, I don't really have other sources of income, but I do have social Security?
Well, we can only deal with the cards that are played at that time. Do they have good liquidity? What are there? What is their retirement look like? You know, what do they have for savings? Checking money market? Is that enough? What do they have in for when k's iras wroth? What do they have in a brokerage account? Maybe they have some rental properties, they're getting rental income.
Maybe there's a potential inheritance on the horizon. But again, talking to you through these things just to get a good understanding. I just you know Mark and Ann from Lakeville in this past week. Mark was just retired as an engineer and just retired as a teacher, and they had some some annuities that they didn't know had some features to them where they had single life or joint
life income. What I mean by that is, is your spouse going to continue to get those monthly deposits or in their case, they didn't realize the spouse want So you want to make sure that those paychecks so that mailbox money doesn't stop when one of you passes, if that's your goal, or will you inherit that as a beneficiary. So all of this may sound complicated, it's it isn't as complicated it What I can sum it up is through a discussion, this can be made crystal clear and
easy to under stand. You know what's going to have a payout, what's not. And I don't want to minimize that. Lots of people have way too much risk in their portfolio. They have no idea why until something bad happens.
So, Larry, I want to go back to this issue of Social Security being your sole income when you're in retirement.
Obviously that's not something that you.
Would ever suggest. So that kind of hearkens to those who are listening who are a little bit younger. Are there things that they can do? What should they be doing?
There are things they can do. What should they be doing if.
They're a little bit younger and they're they're trying to plan for obviously in the next ten fifteen years.
The sooner you can put money away in those employer plans four oh one k's, four h three b's, thrift savings plans, whatever is applicable to you, the sooner, even if it's just a little bit, you know, it's just we just had the you know that we're in January. Hopefully you boosted it one two three percent. You won't even notice it. Over time, compound marketing will make the difference. You can't afford not to, I know, your budget might
be tight, continue to build that the liquidity piece. But again from a tax perspective, if you're not taking advantage of an employer match, you're really missing opportunity. You got to start as young as possible. And again, the money will only stretch so far. But your future starts right now, and it starts with a conversation. You know, reach out to us today to see, you know, is there anything you could do. What are the options you have, maybe
they're minimal. Discuss income options, annuity options, income strategies. You can only play with the cards that are dealt. But given the opportunity at a younger age, I would say probably a lot of people would say the regret they had is not starting earlier. Not starting earlier. I hear it all the time. We don't want to live and regret. But that's probably the biggest thing that I can say.
So, Lara, I think what I'm hearing you say too, is that those who are listening, you can be in your early fifties, you can be in your forties, you can be much younger than that. You can be just starting your first job. It's not too early to maybe sit down with the folks that have in financial group and just talk about what the future looks like.
It is never too early. We're not limited in scope. Yes, that haven financial group. We're more geared toward retirement planning. But retirement planning should begin when you get your first job, bought a house, got married, had a kid or children. It should start in those early years, and unfortunately people often just don't think of it, they don't develop the discipline early on to do it, and then they find
themselves in their forties and fifties. And again, never too late to start there's some you know, some nice a better catch up provisions that the government will allow us to do. Now, take advantage of whatever you can. But again, don't wait. Even if it's a little bit, you'll you won't regret it. We don't want to. We don't want those regrets later in life.
All right, So, having said that, how about a connection and a conversation so that you don't have those regrets and you have confidence as you move ahead in your retirement. The number six one two five zero four eight four zero zero. I want to give that to you again. It's eight it's six one two five zero four eight four zero zero. You can also go to Havenfinancialgroup dot com and get more information.
When we come back, let's debunk some of.
These myths related to retirement and retirement funds.
This is the Haven Financial Group Radio Show.
Don't go too far. We're gathering more important insights and retirement paice government. The Haven Financial Group Radio Show will be right back. Stick around. You've got questions, We've got answers. Your tune to the Haven Financial Group Radio Show with your host Larry Kolvig and Kim Karragan. Now back to the show.
Good morning again, and welcome back to the Haven Financial Group Radio show. I'm Larry Kolvig, founder and CEO of the Haven Financial Group. Again, thanks for listening. Feel free to visit our website at Havenfinancialgroup dot com. Check out all the classes upcoming classes Truth about Annuities, Maximize Social Security and tax medicare made Simple in other classes again on our site, we invite anybody to come out to
those because education is the potential for power. It's what we do with it that matters, and we can always learn and from the recent attendance if people are wanting to learn, and just like I think in this segment, Kim, people are going to want to learn about some of these myths that might just not hold water.
Yeah. Absolutely.
You know, I think that what frequently happens that we don't know all that much about retirement, and so we listen to other people and you know, Uncle Bob said that such and such is true, and that may not be the case. And things certainly change over time, and it can be these myths that cost you a lot of money if in fact you're buying in So let's walk through a few of the most common myths that I think are misunderstood. Set the record straight here, Larry.
Let's begin with expenses decrease significantly when you get into retirement.
This I hears so often. Well, when if I'm married, when one of us passes, expenses will get cut in half. Work related costs may diminish, but they don't get cut in half. Whatever Bob spent on beer every month, maybe that's gone. But the rest of the stuff, guess what, there's still healthcare. You're going to still want to travel, You're going to still want a lifestyle. You still have hobbies.
The surviving spouse, if you will, it's essential to budget realistic for retirement, and those expenses are not going to get cut in half if one of you passes in retirement.
Well, and you know, Larry, I feel like, even if someone doesn't pass, the more time I have on my hands, the more I want to do something, and frequently that's going to cost me some money.
Yeah, the more free time I have my hands, the more it costs me. And I certainly know it costs my wife and daughters because we just came off the holidays. So yeah, it takes money. I mean again, income for the things you want, because you need to do the thing. Maybe you want to be part of the health club or the country club or play golf, but all the stuff costs money. So we want to but we want to buffer that into our budget and our planning.
Yeah, social Security will fully cover retirement needs. This I was sort of getting at this in our last black I think a lot of people do believe that that's the truth. And it may have been for many, you know, many retirements ago, but certainly in this day and age, that's a pretty tough idea.
Yeah, it's why we teach a lot of social Security and tax classes because I don't think that anybody should want to live just on Social Security. I don't think anybody should want that. I think a lot of Americans have become reliant on it, probably too much. But in our benchmark we use is Americans should not rely on more than forty percent of their income and retirement should be coming from Social Security, which in my classes I teach that's sixty other percent, that's sixty percent. I call
other income sources. Why do we talk about those? Because those get put into the equation of provisional income with Social Security. So we don't want to live on it, But we also want to integrate it into how we plan accordingly with the other income. And then again, taxes are part of that conversation, because they always are part of the conversation.
Absolutely.
Sort of something we talked about again in the last block, and that's the idea that it's never too late to start saving for retirement.
Yeah, never tooly, it's never too late, start as early as you can. And I mentioned compound interest. It's going to enhance your future financial security. Another way. Medicare covers all healthcare expenses I taught earlier. No, it does not. It's why people look at supplement, the Medicare advantage, you know, the dental division, and it's not long term care. All these are major costs. You should have a conversation with Isabella or Glenn. Doesn't cost you anymore to have somebody
to do the work for you. But Medicare does not cover all health care expenses. Not true.
Well, and I want to tell the folks who are listening. Over the course of the time that Larry and I have worked together, one of the things I've learned the most from his many experts at Haven Financial Group is that there are many many misconceptions about health care and about Medicare. And if you are questioning you know what you know about health care. That's that is a reason
to call Haven Financial Group because it is confusing. There are a lot of different dates, there are a lot of deadlines, and it's really important that you understand what's going on because that's that's something that's really important in your retirement for sure. The myth that you can work for forever, I mean, I think a lot of people work a lot longer now than they used to, larry because they choose to. But working forever probably is not gonna It's probably not gonna happen.
No, no, no, My dad's still my mom and dad still a crop farm at almost eighty and seventy seven. You know that doesn't work for everybody, because I'll tell you this, life's calendar does not always cooperate with our calendar. Unfortunately, for a lot of people, health doesn't always hold up. There's also job market challenges. You know, I had a couple from Prior Lake last week. You know, he lost He was a warehouse supervisor for years and that didn't
last as long as he wanted to. And he found at sixty two that getting another warehouse supervisor job that paid the same as virtually impossible. Or you know, Beverly, our front desk overqualified, amazing front desk person here at the office. You know what, she was a marketing professional for forty years for a big company, traveled the world. She got a pink slip, you know, a few summers ago. You know, good news is they did. Her and her
husband have done tremendous planning. But you know, the pink slips. I know this doesn't go on in the real world, but I've heard that sometimes people as they get older get pushed out by younger people. I'm sure that's not happening.
Right, No, I'm sure it's not the one thing that this is a myth. And again this goes back to this idea that you know, expenses decrease when you're in retirement, and so do your taxes, and that is not necessarily the case either.
No, it's why our motto is forward thinking tax planning. It's tax season right now. You should have been having these discussions all year. If whoever's doing your taxes again, if you're the one that just brings the box in and picks it up and then it gets if that's how you're doing it, probably you're not doing enough planning.
And Lance prides himself on sitting down throughout the course of the year, which leads to successful planning, talking through things, avoiding surprises come tax time, taking moneies out of the wrong accounts, strategic planning to manage taxes effectively. You worked hard for every single dollar that's in whatever account that we're looking at. You don't want to be sloppy in how you take it out. You need an income distribution withdrawal tax strategy to make sure you're doing it right
and not just giving Uncle Sam. So as we enter tax season right now, if you're listening and not getting the attention, if you are not happy, maybe if they're charging you too much, come on in have a talk with us, Have a talk with Lance, get on his calendar, and you'll see what true attention when it comes to retirement planning. In any of these puzzle pieces areas, whether it's long term care, investments, wealth management, annuities, life insurance,
any of these areas, you'll get the attention. Because we pride ourselves at Haven Financial Group with spending the time no surprise costs. If at one of my clients called in after the new year, and she goes and she basically does all retirement stuff with us, and we're very thankful for and for others that do. Now, how am I paying you guys again? And we walked through exactly. She was worried that we were not getting anything, and
she goes, well, that all seems really fair. But man, you guys spent a lot of time with me last year. That's what I like to hear, and that is our model here at Haven Financial Group.
Wow, I love that too.
Six one two five zero four eight four zero zero is the number call set up a consultation. It's twenty twenty five, folks, and it's time to start thinking about retirement. Six one two five zero four eight four zero zero. Larry real quickly here because it is twenty twenty five. I want you to talk about some of those educational seminars that are coming up.
That you have these classes.
This makes you, guys, very unique, and it's an opportunity for people who don't work with you to have an opportunity. You know, do you have a chance to learn some things about retirement and hear more from your experts. So tell everybody about some of those that are coming up in the near future.
Yeah, go to our site Hanfinancial Group dot com. We got all kinds of classes. We're in full force right now. We just had carry our estate planning and attorney with me and a couple of advisors. We just did a Wills trust some legacy planning here at the AM Center in Burnsville. We had fifty some people both nights. It
was very well attended. We added some existing clients there, a lot of newcomers, familiar faces, unfamiliar faces, and man were they attentive and a high high percentage of them are all coming in to visit with us to get more information in all these different areas maximize social security and tax We have some classes in Bloomington coming up, Savage Lakeville Truth about annuities here late fourth first quarter, I think at Jensen's Supper Club. I have a class
coming up at Dakota County Tech. We do lots of education. We have lots of our major sources are referrals number one and then these educational classes where people can come in and not feel threatened. They're not going to get sold something they could leave with. A lot of people will leave with a social security report that'll be very helpful and lots of conversation in all these areas to see are they doing things at all, do they have a plan, are they missing a plan? Or we'll come
up with some recommendation, recommendations and suggestions. So feel free to come out to any of those, come on in and visit with us, and we really appreciate you listening every Sunday morning here on KTOK one oh three point five eleven thirty on the AM dial.
We want to remind everybody but Heavenfinancialgroup dot com. That's where you learn about those educational seminars. You do need to sign up.
They are free, but they like to have a.
Headcount and so please be sure that you go and check out those dates and get signed up if you're interested. Six one two five zero four eight four zero zero. That's how you reach the folks at Haven Financial Group. Great show again today, Larry.
Thanks Cam, look forward to next week.
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