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Good morning listeners, and welcome to the Haven Financial Group Radio Show. I'm Larry Kolvick, owner and CEO of the Haven Financial Group, And again you're listening to the Haven Financial Group where every week we discussed crucial retirement topics, the ins and outs, mistakes, that we try to help people avoid, so please feel free to give us a call at six one two five zero four eighty four hundred or Havenfinancialgroup dot com.
Kim, good to be with you again.
It's great to be with you as well. Larry.
Well.
We are now coasting directly into the holidays with the election behind us.
We you know, have sort of seen it as.
Halloween, then election, and then the holidays. So it looks like that's behind us, and certainly there's going to be an impact associated with it. So this week, I know that you had talked about the idea of maybe talking about how a second Trump term will impact retirees and those who are preparing for retirement.
Yeah.
For sure, for the most part, the elections behind us, and I think everybody can give kind of a sigh of relief. And you know, my here in the past week or so has been you know, people seem to be a little bit happier, a little bit more at ease.
Just my observation.
There's public sentiments seems to be good, whether you're happy or excited or disappointed, and I think there's just a sense of relief that we don't have to look at all those commercials on TV, and you know, all the results and all that stress. It's not fully behind us, but I just sense that people are a little bit more relaxed than they were.
Well, I think you know I'm getting this, and you and I have talked about this off the air.
I think people are ready for a break.
I sort of anticipate the holidays are going to be a big time across the nation because people are looking forward to just maybe celebrating and like you said, relaxing. Finally, but we do want to talk about what this second Trump term is going to mean. Taking a look at our show today. Number one, we're going to talk about tax cuts. Now, we've talked about this so frequently here on the show. You know the Act of twenty eighteen, which were tax cuts that were put into place by
the first Trump term. We're going to take a look at now that there will be a second term, what that could mean.
Trump and the stock market.
Obviously, this first week or so since this has been decided, we have seen the stock market rally, So we'll talk a little bit more about that. Questions on tariffs. Tariffs were certainly a part of President Trump's campaign promises, so we'll talk about how that could impact retire reason. Then finally the Federal Reserve and maintaining autonomy, which we since you and I have chatted, we have seen the Federal Reserve drop interest rates a quarter point.
Again, yeah they did. Weren't sure that was going to happen, but it did happen. So we got a lot to talk about, you know, changes on the horizon, like or dislike. But you know, this conversation we're going to have today would be very, very different had there been a different outcome. So again we'll stress the the fact that planning no matter who's in you know, not just for the short
term but the long term. And again we're going to dig into some of the tax things in a variety of these things in the show this morning.
Sure absolutely, If you are listening and you would like to set up an appointment to meet with the folks here at Haven Financial Group, we'd like to share the telephone number with you.
It's six one two.
Five zero four eight four zero zero at six one two five zero four eighty four hundred. You can call that number setup for free consultation with the experts at Haven Financial.
It costs you nothing.
It's an informational session with one of their one of their team members, and you can do that at any time. Again, it's six one two five zero four eight four zero zero. So let's talk about the Tax Cuts and Jobs Act of twenty eighteen. They were set to expire in twenty twenty five, and that could very well be a thing of the past, meaning the.
Expiration, yes, the expiration date, they're very well could not come to fruition, which that we've been planning for, which is good because we didn't know what was going to happen.
But you know, the Tax Cuts and Jobs Act of twenty eighteen was the largest tax code overhaul in thirty years, three decades, Kim, and it changed a variety of different things, from the corporate tax rate for being thirty five percent to twenty one percent, which Trump would like to actually get to twenty percent, and create a lot of tax benefits that help individuals and families.
It really helped them as far as the.
Tax brackets go, and that's one you're hearing a lot to talk about because these brackets at the end of twenty twenty five were supposed to probably won't now change and revert back to what they were which was higher, an example being that you know the ten twelve and twenty two and twenty four percent would go to ten fifteen to twenty five and so on, so significantly go up, I'm guessing, And again most speculators would say that that's not going to happen, so it it certainly could create
more opportunities for tax planning, which at aven Financial Group were very big into. Many people today do not itemize their taxes because that was also part of this act. Those numbers went up very big under the first first
time around for Trump. I mean most people don't because right now thirty thousand dollars for a couple is the standard exemption for couples, and it's even a lot more for a head of household twenty two thy five hundred, and then for individuals it's half of that thirty thousand, fifteen thousand, So most people's tax returns very little. Itemization created a lot of simplicity for a lot of people. And I'll just point out a few other tax things under the Tax Jobs and Cut Some Jobs Act, like
the child Tax Credit. There was income limits on this. This was this Act raised that again, providing more fans with access to credit, the state and local tax deduction. It's an effected paper taxpayers and high tax date so of course like Minnesota. So again there's a variety of things with that that could stay the same, there could
be minor changes. But how that affects the average listener is, you know, having a plan, creating a plan, making sure that it's up to date, current, and the you're not just missing opportunities. A lot of this Act we had to do with taxes from personal to business. And I'll point out a state planning, you know, that's one that went. The federal tax exemption is about thirteen point six million this year, it's going to go to almost fourteen million
individually federally. Of course, the state of Minnesota is three million individually. So if you're listening and you you're over those amounts, you should have an estate plan anyways, but it may make sense for tax so a lot falls back on the taxes. Some would say this is a great thing, but there's always pros and cons to the situation, so to be determined. All we can do is to control our own actions and what we do at this time.
So how are you going to be advising maybe pre retirees or retirees. When it comes to taxes and this staying in place, Well, things change the way you start to advise.
It won't change, it'll remain consistent because all along, in all the years we've been very big and educating on forward thinking tax planning, tax laws, tax codes, they always change either for the good or the better in between. It's just important to understand those changes so we can adapt and make adjustments to how individually and as families we do our taxes. You know, anything we could take
advantage of. Oftentimes there's people that miss up different things under the tax code that are available, and they do because they tax prep tax preparation, but there's no tax conversations or planning along the way. And you know that's why Lance, our CPA, who's been on with us a few different times, you know, we're big into having tax conversations.
Not because they're so enjoyable, because they're not. But i'll tell you what, it puts people's smiles on people's faces when they finally realized that there was an opportunity, they
executed the opportunity. And i'll tell you the opportunity right now, fourth quarter is folks that we've sat down, have sat down over the years where roth conversions haven't made since they are making sense newer clients that go, why isn't our old guy that takes care of us or our previous individual, why haven't we been talking about this right? And quite frankly, it's because there's no conversations and you drop off, pick up your taxes, then no more discussion.
People should people should have more time to talk about these and they're just not getting it.
Absolutely. At Haven Financial it's a holistic approach.
Folks.
Not only are you sitting down to talk about, you know, different strategies for your retirement, but you're talking about the entire the entire picture. So you could be talking about as we are now, taxes, you can be talking about a state planning, talking about you know, income streams. All of these things are discussed when putting together a portfolio.
And if that's something that you need or you need someone to look at maybe and adjust some things, maybe because you know this Tax Cuts and Jobs Act will remain in place, then we're suggesting that you call Haven Financial Group. It's six one two five zero four eight four zero zero. That's six one two five zero four eight four zero zero. You can also go to Havenfinancialgroup dot com you can learn more about Haven Financial Group. You can also learn about some educational seminars that are
coming up. They are free and they just need you to sign up for them so they can get a head count before they start to make their plans. Today we're talking about how a second President Trump term could affect retirees. We've talked a little bit about text cuts and the Jobs Act, and coming up next, we're going to talk about President Trump and the stock market.
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 Karragan. Now back to the show.
Good morning, and welcome back listeners. I'm Larry Kolvig, founder and CEO of the Haven Financial Group. Thanks for listening this morning. Got a lot of talk about new Trump term. But if you have retirement questions and concerns, considerations, things you've heard, whether online or the around the water cooler, family events and all that stuff. Give us a call at six one to five zero four eighty four hundred. Feel free to go to Havenfinanciergroup dot com lots of
retirement tools. Appreciate all the calls in recent weeks that you guys have presented to us, and all the appointments Kim, that we've gotten off the show. It's been pretty amazing and we really appreciate everybody listening.
Yeah, that we do so.
As Larry mentioned it, it's six one two five zero four eight four zero zero.
Set up that appointment.
If you can get it in yet this year, be sure you do. But if not, Larry, I know you guys are taking appointments for the first.
Of the year.
Yes, we are throughout December. Limited spots throughout the first of the year. That's just around the corner, Kim. Obviously Thanksgiving, we'll be here Christmas Holidays, so we'll do our best to accommodate schedules, which is evenings as well. There is no cost for people to come in. It's free time where you get to know us, We get to know you and talk about the things that are important. Maybe not super exciting. But I love when people say, wow,
this was so insightful. You ask questions that nobody ever else asked, and you really were never under a time crunch. Because we want people to get more time, not less time, and retirements should be and I've stressed it many times, more than a meeting once a year for forty five minutes to an hour. There's a lot of retirement topics that go into this discussion, and it's owed to people to have that time.
Absolutely, you spent your whole life building toward this. You deserve a little more than an hour once a year. That is for certain. Six one two, five zero four eighty four hundred, that's the number. That's how you reach out to Haven financial groups that up a free consultation, go in and talk to the experts. Today, we're talking about a second Trump term and how that may impact pre retirees as well as retirees. One of the things we want to talk about is the stock market. We're
about a week and a half since the election. We have seen the stock market rally. They liked that on Wall Street, that's sure, but a lot of that has to do with the former president soon to be president now president elect his track record, right.
Larry, it does if people reflect well. Under Trump, the stock market was very very strong. Yeah, we went through COVID and unprecedented times, but the market itself was very strong. So yeah, the day after the election ended people's portfolios. Smiles around people's faces because the week following the Dow is up almost five percent, as well as the S and P five hundred. It's skyrocketed the day after and again for the last week, so again we've seen great returns.
That doesn't mean that it's going to be up forever, but it does show that another Trump presidency is really pro growth related it lower taxes, reduced regulation, you know, all the things that the market tends to see as positives, especially for increased profits for corporations, some boosted stock prices, some real good benefits. Now I say that, but as retire as you planned for retirement, we don't stress enough the importance of having the right recipe for the portfolio.
Now in these times that might present it. There might be opportunities. If you look when he was in the first time, healthcare and pharmaceutical companies they didn't do so well the first term, and you know, everybody's kind of keeping their eyes on if RFK Junior is part of the Trump administration and his the war on the FDA,
the Federal Drug Administration. There's numerous articles out there about that, and you know, that's a big question mark because recently I found more conversations leading to what is the US putting into all their food? What type of ingredients? And my wife and I personally got to go to Europe last year on a business trip, and I remember eating over there things that I would normally not eat here, even though I like just because of the way you
made me feel in the middle of the day. Sure, and the Europeans were like, well, that's because you Americans put all that extra junk into your food. I'm starting to believe and I do believe that there's probably truth to that. So we'll see what happens when it comes to the food wars. If you will, not that I don't love food, because I do. But you know, then the discussion on the terraffs, which you and I going to get into, you know, the pros and the cons
with that and energy oil. You know, he's more in favor of the fossil fuels more than the the Eva's or the electric Not to say that that's bad, but you know, we become reliant after he left on you know, oils from other countries rather than being self reliant on our own oil. And I can you know, quote Trump, he says, drill, baby, drill, and I have no doubt that that's probably that's what he's going to promote. So you know, there's there's those on both sides of the aisle.
But that could mean some lower gas prices and again, less reliant on other countries. So a lot to talk about, a lot to be determined, but it's still as politics. Does anything I plant, does anything happen overnight? No, but we certainly can expect some changes and with that we can expect and others. I've seen articles of volatility in
the market. Yes, we've seen a great uptick. That's wonderful, but folks do have to prepare for the volatility because it's inevitable and that's what the market does.
Absolutely. You bet, let's talk a little bit.
You know, President Trump is talking throughout this entire campaign. He spoke about tariffs. Talk about the impact you think that might have on the markets and what that could possibly do to retirees investments.
Well, some m's say that tariffs, so they're bad, bad, bad, but they work the first time around. And we'll get into that more in the next segment. But it could cause them up ticking prices. However, prices are still high, so you know what effect that will be.
I'm not exactly sure.
There are certain industries I think that people can kind of keep an eye on. Infrastructure spending, you know, could drive growth in the construction industry, industrial materials. His goal is to strengthen the defense, So there's defense companies out there that in security companies that might be good options. At this stage, we want people to look at all the options and incorporate them. Not that they're going to be perfect for every portfolio or every individual or every
family whatsoever. We want to look at all the options though, you know, I always say, if it sounds too good to be true, ask more questions, get rich schemes, be careful. We're retirement planning. We tend to be more conservative. Kim doesn't mean people have to be. What we find is there's still an unawareness out there of what people think
they're doing investment wise, what they are doing. And yeah, it's fun to see the market go up and your portfolio and your balances increase, But caution, the market has bullish markets and barished markets. It's a matter of where you're at in the timeline of life that matter. So again, don't get caught off guards. Stress test, stress tests that portfolio, and make sure you're at where you should.
Be at this time frame of life.
So, Larry, having said that, and you've stressed certainly that while we have seen the market going up, up, up since the election, you know, what goes up does come down at least a certain amount. How about some of those retirees who are watching this getting extremely excited and saying, well, I got to get back into that. You know, I'm missing opportunity. What do you say to them?
Discuss that through and through When you say back in are you in at all? How much are you in? What is your exposure? Is it adequate? Does a meet where you're at at this stage of life. I mean, we have clients those retirees are not that say I don't need the risk of the market and they don't, and others that say I got to catch up, I lost last track of time, I don't have enough funds for eachime retirement, and then they go way too crazy on the risk level. So it's not for us ever
to say you need more risk or less risk. It's what's appropriate, what makes you sleep at night, what keeps you up at night, and a balanced approach. And it goes without saying for married couples that comand one's more of a gambler and the other one is less of a risk taker. What's the happy media? You know, oftentimes it's skewed one way or the other. And again, where are you, what age are you? When are you going to need the money, if at all? And unless you
have pensions and social security, that will be suffice. And just this past week I had several couples that had enough income that they were going to have in retirement just from pensions and social security. Where they go, we don't really think we're going to need the other I ras that's going to be more legacy, so different circumstances. I don't want to make this sound like this is only for the rich people. It's for those that have very little and those that have a lot and everything
in between. It's not about how much, but is it adequate and will it provide for a comfortable retirement.
So if you're someone who's listening right now and you're wondering, as we've talked about, you know, the market volatility and a new administration coming into office and what may happen, and maybe you're wondering, whow am I at the right place in my retirement to have my portfolio so invested in the market, This might be the time to, you know, call Even Financial Group and sit down with one of their experts. Let them look over your portfolio, stress test it.
I love that, and make sure that you're in the right places for the future. It's six one two five zero four eight four zero zero six one two five zero four eight four zero zero. Give them a call at Even Financial Group, set up a free consultation, tell them that you heard us here on the radio, or you can go to Havenfinancialgroup dot com.
Lari.
When we come back, let's talk a little bit more about tariffs. They are sort of a promised part of a new Trump administration. Some people saying that could cost us more money, others believing this could make us stronger.
In the world economy. So let's talk about that. 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 Kolvig 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 founder and CEO of the Haven Financial Group and please give us a call six one two five zero four eight four zero zero or Havenfinancialgroup dot com. You'll see all the classes that we teach coming up regards to all these different retirement topics.
Everyone's welcome.
Education is important and before you know how retirement gets here. So whether you're a long ways from retirement or very close to retirement, or maybe you've already entered the golden ears, this applies to you. So again six one two five zero four eighty four hundred.
Larry, let's talk about tariffs. We've mentioned them a few times during the course of this show. Of course, they were a campaign promise on the part of Donald Trump, and I think what we should start with just to make sure that everybody is clear and we're all talking from the same base. Why don't you explain to everybody exactly what tariffs are.
Well, a tariff, simply put, is a tax levied on an imported good. But that's not a real comprehensive description of really how it works. Tariffs are taxes on US companies that purchase imported goods. They're not taxes on other countries. There are really two types of tariffs, you know, I'll specifically say a unit or specific tariff is a tax levied as a fixed charge for each individual unit of
a certain good that's imported. For an instance, three hundred dollars per ton of imported steel would be an example. Another one, which a term that people probably haven't heard, is an advolorum tariff, which is levied as a proportion proportion of the value of the imported goods. So an example would be twenty percent tariff on imported automobiles. So both tariffs act in similar ways. So some would say
that you know this is going to really affect other countries. Yes, it could, but it really is a tax on US companies, so that can affect People would say, well, if you tax if it's going to be an effect on US companies, well that eventually is going to raise the prices, which possibly could raise inflation, which is true. So I know that there's a fine line in using this. There's people
that are radical on both sides. But it's more than just you know, threatening, although it did work pretty substantially in his first term. But it's also a negotiation. It's more of a negotiating tool. I don't want to say a scare tattoo, but it's a negotiating tool. You know, the threat of tariffs on at the negotiating table in an international trade deal is maybe more important than enacting them. So, yes,
it's a negotiating tool. It is a tariff. Yes, it puts some fear into these other countries, which maybe they need a little bit of that. So are you hearing about a full blown trade war in US, China, you know, Europe, Canada, and Mexico. Yeah, those are the main countries that we're really talking about. But with the plus side of that is there's a good chance it could bring back American jobs. I would say that's a great positive rather than subbing
it out to these foreign countries. So another part of this is making other countries pay their part. You know, that's a big part of it. We know we've sent and I'm certainly sensitive to what's going on in all the other countries and the wars, and it's terrible. But you know, here in the US we've been sending blank checks and our US debt just continues to grow and we can't do that. So other countries have to step up to the plate. And again, I think it's more
about a negotiating tool than tariffs. Tariffs tariffs, but you're going to get a completely different outlook from conservative and liberal economists and on this.
However, this isn't a new thing. It's coming.
It's one of the oldest trade policies that's been used, one of the oldest instruments that's been used, and it dates back to the eighteenth century. But it really historically is meant to raise revenue. Again, pluses and minuses. None of this means it's all going to happen overnight, but we have to get to do something to get somewhere, and this is just one step, I think, to kind of getting things back to the United States.
So let's talk a little bit about how this applies to people who are in retirement, because if in fact, these tariffs go into effect. It could mean prices will go up, which would mean more money out of retirees pockets.
It certainly is a possibility which we seen in the last several years. So how far can that pocket book goes go? So we've you know, increased those budgets account for these things.
This isn't something new.
If you go back in US history, you know, it looks like, oh my goodness, we've never seen this before. Well, we have seen this before. This isn't something new. It only seems new because it's of the in the present time. So having an accrid plan first of all, having one an accurate plan, and that means from looking at all your investments to your expenses, accurate expenses, doing projections out showing.
Kind of plan.
We always plan for the worst and hope and pray for the best. You know, we don't want to puff up numbers. You know, any financial person or individual can make things look better than they are, and if they are, you're going to be one happy individual or family. But we also we want to plan for the worst. So when we project out ten, twenty, thirty, thirty five years, we're using inflation higher higher percentage than normal just because
worst case. So should people change everything they're doing because we're having this tariff discussions? No, we've had these discussions before, and well, let's just put it this way. The last four years it hasn't boded well for expenses and everything, and so this has worked before. It's a fine line. And again I know there's pros and cons on both sides, but we got to start doing something to try to bring things back to America in my opinion.
So taking this back to your clients and your retirees, first off, let me just ask you. Since the election has occurred, have you had people come in who have been concerned about prices going up? And what have you been saying to people with the change of the administration.
I haven't had any more questions than normal. I mean, we continue to have full schedules in all areas of retirement here at Haven Financier Group. I said at the beginning, the public sentiment seems to be very positive, sure, because people have been used to these high prices, even though inflation they say has come down significantly, and yeah, inflation percentages, yes, but a lot of the prices have not. Now that's
a whole different topic. What what can we do to bring those things down, and you know what, if we bring back energy, oil and stuff, you know, to the US, maybe that's significantly worked before. So I haven't heard any more concern. I've actually heard probably more optimism in the last week to two weeks, and that's a good thing. But you know, we don't know which one of these things are going to pass, what effect they're going to have. And again that's where the you know, the Fed Federal
Reserve is going to come into play. And again it's a to be determined. Come the new year, we'll have the Trump administration back in place, and we'll see you the next four years. But we can't sit and worry and live in fear. We have to do the best with what we have at this stage of the game, which if you're listening, maybe close three retirement or planning for retirement or in retirement.
We can only be responsible.
For our actions, and that's what's important, and that's what I can't stress enough.
Sure.
So with a new administration coming in the twentieth of January, this is the perfect time if you don't have a plan to maybe put one in place, or maybe this is the time that you want to just have someone look over your plan, make sure that it is adaptable to a new administration, a new administration that may add or subtract tax issues, a new administration that could make
a little more volatility in the marketplace. You know, if you're if you're invested in the stock market, and a new administration that could change the tariff situation, so trade could possibly trade in the change in the US.
It just seems like a good time.
Larry, to just sort of step back, take a look at your situation and just make sure you're ready for whatever may come.
It is.
You know, we don't know what's going to pass and what isn't as.
Far as tariffs or whatever else.
But you know, now maybe a good time to look at do you have investments that are protected if the market goes down? Are you the type that a lot of people are when they come in and they have very little liquid in the bank and everything at risk in the market, and that is a potential recipe for a disaster. And you say that couldn't happen to me, or I don't think that's me. But if you don't know, I think you should because I just had, you know, I'll think of Jeff and Carroll that just came in
from Lakefield past week. He's retired military, and of course a shout out to all the veterans this past week. Of course that served. But Jeff and Carroll they had twice as much risk as they thought they did in their portfolio. They had no idea, no idea whatsoever. And that was us simply inputting all the holdings that they had. And again we're not the only ones. There's great software that we have and it can produce Okay, here's on a scale from one to a hundred, how much risk
you have. There's was twice amount that they were comfortable with, and they didn't realize they were so imbalanced. So our goal isn't to put fear and anxiety. It's to calm that fear and anxiety, and that's by having people have a good understanding of what they're doing, how their position, and simply having conversations and discussion to give them the confidence that they deserve.
Now is the perfect time to have your portfolio looked over, or to put one together and get it in place.
What are you waiting for?
Call six one two, five zero four the four zero zero that's six one two five zero four eight four zero zero. Set up an appointment with folks at Haven Financial Group or you can go to Havenfinancialgroup dot com. When we come back, let's talk a little bit about the Federal Reserve. You're listening to the Haven Financial Group Radio Show.
Don't go too far. We're gathering more important insights and retirement poice. Devinent 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 Kulvig and Kim Karrigan. No back to the show.
Good morning, and welcome back to the Haven Financial Group Radio Show again. Thanks for listening. Give us a call at six one two five zero four eight four zero zero or Havenfinancialgroup dot com.
Again.
We talk every WEEKKM about all these retirement topics, what's going on and in the politics and new new laws and all the various things that sometimes creates a lot of worry.
And we don't want worry, but.
We want confidence, especially as you're planning for retirement and get close to retirement, and that comes with the right attention that you deserve for what you're paying and I see every week people not getting the attention, paying a lot of money and not getting it, and that's that's problematic.
You bet.
You know, we talked about this off the top of the show. Federal Reserve certainly one of the most important factors when it comes to controlling the US economy in the US economy has so much to do with the global economy. And it was just a last week that the Fed announced another quarter point drop, and there is much anticipation Larry, that they're going to do it one
more time before the year is out. So the first thing I want before we talk about, you know, the Federal Reserve and maintaining autonomy, because that is so important. Let's talk a little bit about these rate cuts and what this means to consumers and most importantly consumers who are in retirement.
Yeah, many would say the Federal Reserve is one of the most important factors controlling the US economy and therefore the global economy. They control the money supply of the economy, which can help control prices. That's what they're trying to do, trying to still get inflation where it's supposed to be, incentivizing institutions and businesses and individual to start buying and lending and borrow, creating different borrowing decisions.
They kind of control things.
And some are out there saying that Trump wants to change that. You know, that's purely speculative. He might want to change some things because some would say that some of their decisions aren't always for the better. Now, they do avoid political they say they avoid political cycles and taking any political stance, and that's important. Sometimes I wonder if that actually is the case. But why would we ever question politics? Right, we have no reason to question politics,
or maybe we do. It maintains market stability. And again, the US is looking at the world is looking at the US is kind of the mainstream. You know, we'll see. As far as lower interest rates, Trump has expressed a desire for lower intery, lowering interest rates. He wants to stimulate the economy. He wants to stimulate growth. And by
doing this, that oftentimes does it. Now with that, you might your CDs and your high heeled savings and money market might not be getting what they if that does happen. But it's always a balancing app between you know, cutting rates, increasing rates, uh, just to maintain the stability in the economy. So you know employment, you know, lower rates could boost hiring and spending. Some would say that's great for businesses, which it is, but excessive cuts me create an overheated economy,
leading to layoffs and economic downturns. So inflation could spiral. It's all a balancing act and again to be determined. We just don't know what's going to happen. But the US has always bounced back. If we don't have faith in the US economy, we got serious problems. And I would say the overall health of the US economy is still relatively strong, with a lot of problems, but still relatively strong.
So federal reserves decisions. How does that impact retirees portfolios.
Well, it has to do. It affects the markets. You know, anytime that the Fed breathes anything, the market goes up or it goes down. It goes crazy, more so than ever because back in the day, you know, if something happened in a foreign country many worlds away, would have no effect on us at all. Today there's as much as a whisper in the market goes crazy, you know. So again, making sure your portfolio is where it should be. Those fixed income types of accounts like money markets and
CDs on high healed savings accounts or checking. You know, we've seen some nice rates so though the last couple of years, which has been very nice, but we could see those go down, so continue to monitor those for your liquid types of short term liquid accounts. We will see what happens in the real estate market. You know, by doing that, we very well could see the interest rates on mortgage rates come down, which may heat up
the real estate markets a little bit. You know, there's every decision there has an outcome and a reason which you could say is positive or negative. But it's really maintaining that right balance and that's where the Federal Reserve really comes into play in all of these various industries. The strength of the dollar just this past week that went up, so that's a sign and a short term heading in the right direction.
You know.
It's really getting the respect again from these foreign countries, which I think we lost a lot of that respect in recent years, and his goal is to gain that respect back, which I think is extremely important.
The number is six one two five zero four eight four zero zero. We've talked about a new administration coming into office the twentieth of January and the different kinds
of economic impacts this new administration could have. This is the perfect time, as we ponder what may be coming down the pike for the next four years, for you to take a look at your options when it comes to your retirement portfolio, or if you're getting ready, you're pre retire hirement and you don't have a portfolio yet, this is the perfect time to sit down with experts like those of Haven Financial Group and talk about some
of the options. Six one two five zero four eight four zero zero is the number call set up a free consultation, tell them that you heard us here on the radio.
They'll get you in.
You sit down with one of the experts, you tell them what it is that you're trying to accomplish when it comes to putting together a portfolio for your retirement. Lara, I wanted to talk a little bit about the upcoming educational seminars and what you know as we project out into twenty twenty five, what people can expect.
You can expect the same from Haven Financial Group lots of education. Go to our website Havenfinancialgroup dot com. Classes will continue through mid December. You can see them on our on our site, and then we'll resume the first of the year. Social security and tax classes, investment classes, medicare made simple classes, truth about annuity classes, all done in a communit in the education setting or at a college setting, and you can see all the different venues
we have. And I want to use this time cam to say it's it's mid November, it's fourth quarter, and I want to stress some important timelines if you will at this stage, whether no matter who you're working with or if you're working with no One, end of the year timelines such as required minimum distribution rm ds. If you're of that age, the deadline, make sure you take it to avoid penalties. If you have some inherited iras
inherited rm ds, make sure you take those out. If you're needing some withdrawals or distributions, those need to be done here before the middle of December, because you don't want to wait till the last two weeks of the year. It's time to have a tax discussion. You should be having it all throughout the year. But we've done many IRA to ROTH conversions here. We continue through them every week.
With folks that said I didn't even know what applied to me and that would have been a missed opportunity. Can versions taking advantage of some tax loss harvesting and some of those investments. Taxes are a big, big part of that. And you know it's open enrollment for Medicare. We're extremely busy helping lots of people on the medicare and healthcare side of things, which can be very difficult to navigate. And again, you don't pay anymore to have
somebody help you and work for you. And guess what New Year's is around the corner, and what are your goals for the new year? Turning over that new leafe resolutions? Yeah, but it's getting close to that time again. So putting all these puzzle pieces together, the retirement puzzle, not just some of the puzzle pieces, all of the puzzle pieces.
All right.
So the number so that you can sit down put together that puzzle, not just some of the pieces, as Larry said, but all the pieces six one two five zero four eight four zero zero. That's the number you call set up a free consultation even financial group. Now that's where you can go see some of the upcoming seminars, these educational seminars that you heard Larry talking about. There throughout the metro area. You can sign up for one.
They are free, a really great you don't have to be a client, by the way, this is just a great way to get to know the Haven Financial Group team, maybe get some of your questions answered, maybe get more comfortable with the team so that you can set up that consultation to go in and talk to you know, about your personal issues in your personal portfolio. It's six one two five zero four eight four zero zero Havenfinancialgroup dot Com for more information. Larry, once again, I think
this has been a very interesting show. You know, we've said it already, but we'll say it again. We have a new administration on the way. Always a new administration means changes that can impact a retirees future, and so it's always good to know what your options are. You're prepared regardless of who might be sitting in the White House.
So true, Kim, we still live in the United States. It's November. We have a lot to be thankful for. Yes, there's a lot going on, but it's still the United States of America. Thanks for listening. Listeners, give us a call once again. Six's one two five zero four eight four zero zero and look forward. To being with You and Kim next Week.
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