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 haven with Haven Financial Group. Today 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. Your tune to the Haven Financial Group Radio Show with your host Larry Kolvig and Kim Karrigan your guides to weekly retirement confidence. If you're interested in protecting and growing what you have, let us be your financial safe haven. The full nines are always open at six point two, five oh four eighty four hundred no. 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 Kolvick, founder and CEO. Glad you're with us this morning. You can reach us at six one two five zero four eight four zero zero or our newly revamped website Haydnfinancialgroup dot com. Good to be with you again, Kim. A week's past already, and here we are again. Here we are again, and we're in the middle of March. I can't believe the time is marching on. We've sprung forward, right, Larry, So we're moving in the right direction as far as I can
tell. Yeah, we, sir, are. We sure could use some moisture in this area, but we'll take the warm weather. The winter was really wimpy, you know. I have to tell you. One of the wettest months, as we all know, is April. So you know, watch what you wish for here, right, we could have a rainy, rainy, rainy April come in our direction. We'll take it. You know. I've been thinking about this and thinking about We've talked about this on other
shows before. But you know, about what's going on in the world and how you plan to retire, you know, sort of based on what's going on in the world. You can't do it, is my point. You know, we never know what the economy is going to bring. And maybe you've got a retirement plan for three years from now, so when people come to see you, and even financial no doubt you have to prepare them for the best and the worst, because we cannot predict what's going to happen in
our world economically, geopolitically, or any other way. Yeah, you know what, it's not a one glove fits all situation. You know, we need to get concrete answers to where your income's going to come from. Ask a lot of questions, what are your options and looking at all the options and factor in these ups and downs and markets that go up and bearish and bullish, and you know, history has a way of repeating itself. Retirement is a timeline for many, hopefully God willing, it's a long timeline.
So you just got to expect that these things, recessions and depressions, and you know, look at the big picture of where you're at in life, because you know, what goes around comes around. Just be prepared for it because now you're in those golden years or you're getting closer too. Well, we can certainly learn from the past taking a look at some of the subjects we're going to talk about today, We're going to explore the history of recessions
and depressions. I mean, I think there's a lot of people who are listening who can remember certainly a lot of these recessions. They may not have lived through these depression years and be able to remember them, but they can certainly remember many recessions. So we'll talk about some of those and what we've learned from them and understand how your retirement timeline can be affected by those,
And then we're going to talk about transitioning into your new retirement life. You know, it sounds like and I know, there's a lot of days where I feel like, Wow, if I could retire tomorrow, that'd just be great. I would I would have so many things to do, and I'd be so happy. But you know, it's not really as simple as just tomorrow, I think I'll retire. So we're going to talk a bit about that. And then finally, you want to thrive during your retirement. You
don't want to just survive. So how do you go about making those years what you've always dreamed about. We're going to talk with Larry about how he recommends his clients thrive during those golden years. But let's start Larry with a little bit of a look back, and a lot of these things are too young for you and too young for me. But they certainly do talk a lot about They speak a lot about where we've been and where we could go
again when it comes to just us history in general. So let's start with talking a little bit about the Great Depression. Of course, one of the worst, one of the longest in modern history. And even my history was not so great. When I was researching this, I did not realize really that this country was in that state for almost fifteen years. Yeah, yeah, before we get into that cam you know, no downturns or recessions, the recoveries are not exactly alike. The timeline can be different, some quicker
others. There's just no you know, simple equation or formula that, oh, if you do this, then you're going to get this. And you know, let's look at some of the history that a lot of us, including me and you, didn't have to endure. But you know, a lot of the clients that I've had over the years, they did endure at
least their parents. Did you know, I think of the Great Depression, you know, worst and longest in history, you know, really from I think it was nineteen twenty nine to nineteen forty five, which ironically, with forty five was when my dad was born, and for long starvation, poverty for the lower middle even the upper class. You know, it devastated even those that were had generous fortunes and just a matter of months and not in
some days. And you know, I think that's why as I look and reflect a little bit on folks that had had to go through the depression, those have had to go through it tend to be more frugal, you know, when we look at their savings accounts. You know, I'll never forget several years ago this particular widow had like a couple hundred though. I was just sitting in her checking her savings account, and I said, wouldn't it make sense to do something different? And she goes, my family went through
the depression, and this is my security blanket. And I'll never forget that, because having liquid money is extremely important. So, you know, the Great Depression came right after the Roaring twenties. There was the industrialization and mass marketing, and you know, at the end of the day, then you know what really caused the crash. You know, then we got into tariffs. Global trade was really affected that the newly industrialized economy became very reliant on
you know, there's just it just collapsed. The supply collapsed and a lot of people lost it all. And then of course we went into war and government spending moobilized America. But again it changed people's lives, and we've got to be prepared for these things. And it certainly it didn't stop there. But you know, hopefully we can learn from something like that. Hopefully we
never have to go through it again. Be prepared. That's why we planned for the worst, really hope for the best, and make the best decisions we possibly can make. Absolutely, you know, the Great Depression was a real extreme, certainly, but it doesn't mean that history can't repeat itself in some way, shape or form. You know of these and we've sort of seen this, Larry. We know that when the markets are good, times are good, people are roaring, if you will, there frequently will be
a correction, there will be down times. So in the course of a retirement, let's say that you're hoping that that's a good twenty years or more, there is opportunity there for roaring and then downturn, Oh there is. It's how you make decisions after that and are you prepared for that? And it didn't stop with the war. You know. After that, we had
the oil, oil and bargo recession. This really tipped the balance of the of the economy, which was already struggling quadruple crude oil costs, oil prices which by the way, if anybody's filled up lately, those prices seem to be awfully high right now. And then we started creating big deficits, you know, trade and budget deficits, which you know, I always joke, if you want to really, you know, get depressed, you look at
usdebtclock dot org and what is our debt right now? Well, nobody seems to want to talk about it. Then came the weakening of the dollar and currency exchange rates, and there's a lot of fearmongers out there, and I always try to take the middle lane to bring it in the current status. You know, bricks is trying to take over the US dollar and US dollar is still very strong, and I always say, we have to have faith in something. So policies shifted and then we got to you know, the
current situation. You know, I was in this industry, you know, in nineteen ninety nine to two thousand and one, where you know, we had the dot com blitz if you will. And you know, I knew exactly where I was sitting when the market was crashing in two thousand and seven to two thousand and nine with a great recession, and I was traveling in
this business. I was sitting actually on a I was at a kitchen table and by Malax, Minnesota, up north with a couple that was planning retirement, and the market was collapsing, and the gentleman actually says, I don't think I can talk about this anymore, and we ceased our conversation because it was just too it was too much to bear. Which is why a lot of folks, as we see, are positioned where if something fast happened like
that did, it would drastically affect their situation for retirement. I'll never forget three out of five seniors had to go back to work or stay in the workforce longer. And I see the same type of formula unfortunately today for a lot of folks. You know, I'm always an optimist. I like to be an optist optimist, but I'm also a realist. The market goes up and it goes down. It can move fastly. You know what happens in a different country can affect us quickly, and it's why we need to be
in the present where we're at, like what are we doing? Having a balance to pro coach, being aware of what's going on, not burying your head in the sand, and you don't have to be an expert, but just being prepared, not being all your eggs in one basket. And it comes down to what you and I talk about weekly, having a plan, and that's precisely where we come into play. It's where we sit down and people say, well, what does that process look like? It's it's really
a process to learn about you what you're doing. Maybe you're doing everything perfect and if so, our job isn't to create a problem, it's to potentially fix a problem. And that really starts with the education piece. So I can't stress it enough. This was history. What do we learn from history? Nothing? Then maybe you're not prepared. If you learn something, it's you know what, this could happen again, and if it does, how does it affect you, your spouse and your family. Those are the key
questions. We decided to look folks this week at history and sort of share just a little bit of the timeline with you because as Larry has said, you know, we need to learn from history. And if you're someone who's preparing your retirement, I think you know all too well that these kinds of historic events certainly have happened in your lifetime and they could happen in your retirement time as well. Larry, I love the fact that you say we prepare
for the worst and we hope for the best. Now, if your portfolio maybe need someone to look over it, or you need a portfolio to make sure that you're prepared for the worst but hoping for the best, I want to advise you to call Haven Financial Group. You can reach them at six one two five zero four eighty four hundred. Six one two five zero four
eighty four hundred. Set up a consultation, Go in and meet with Larry or someone on his team and talk about what your expectations are for your retirement and maybe they can help you walk through some of the ways to protect your investments. Havenfinancialgroup dot Com also a place to go to get more information about some of these educational sessions and how you can get hold of the team coming
up, Larry. We've talked about history and what we've seen. Now let's talk about some of the ways that you and your team would work with someone and their portfolio to make sure it's been protected against the markets. You're listening to the Haven Financial Group Radio Show. Don't go too far. We're gathering more important insights and retirement ways 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. Welcome back to the Haven Financial Group Radio Show. I'm Larry Kalvig, founder and CEO of the Haven Financial Group, located here in Burnsville, Minnesota, and you can reach us at six one two five zero four eight four zero zero or at Havenfinancialgroup dot Com. All kinds of tools on there. You can get at the calendar of
all of our educational events. And you know, we've got some really cool things on that site right now, which she keeps here. We call it the Haven Community Link together and check it out Havenfinancialgroup dot Com. Kim, retirement is the golden years. We want to make sure they're golden. So how do we do that? Absolutely well? We started today by talking a little bit about history and what the markets and the economy has looked like over
the last one hundred years. And we all know there have been highs and there have been lows. And these are the kinds of things that you have to prepare for and think about as you put together your retirement timeline. Lots of twists, lots of turns, financial ups and downs, life's ups and downs. By the way, it doesn't even have to be the outside world. You yourself can have these ups and downs during the course of your retirement.
So let's look at a timeline, Larry, and what's you know, the best way to start to approach your retirement planning and then ultimately what you need to do to get to your retirement. Let's start with pre retirement. You and I have talked about this before, but you know, once somebody starts working, they should always be thinking about retirement. Yeah, I think
it actually starts if one really reflects you know when you were young. I mean I grew up in a dairy farm in Candoheim, Minnesota, so work started extremely early obviously, But let me ask questions. You to ask yourself a question you remember the first thing you saved up to buy. You know, I think I remember it was probably baseball cards or something like that. You know, was it a bike, a car? A financial plan was already starting. You know, maybe somebody taught you the basics, which it
starts with the basics, and you and I have talked. Do they even teach the basics anymore? I sure hope. So my doubts is a little bit high. We'll leave it at that. But at the end of the
day, then you start your journey in the work world. Employment. You know, maybe you contributed to a pension which are dwindling, but some people still have them and four to one case four O three b's types of an employer sponsored plan, tax benefits to go with that, and you know, you get that there's a limited amount you can choose from, but it's a great way to start. And you know, if listeners are not contributing and
you're missing out on a match, that's free money. Start somewhere. Increase at a percent or two if you can, every year and you might not not even notice it. You've got I raised, maybe you've contributed to and you know, I have to max that out, or you know, maybe you see ds you're familiar with, or savings you know, needs to call it money market savings accounts. And eventually then you're going to run into the
you know, the social Security piece which you've been putting away. Yes, you know, you have been in your income taxes your whole life, You've been paying into social Security and now it's time to maybe turn that on. And it's why we teach a lot of classes kim maximize social Security and tax because you want to make an educated decision on when to take it. And people have this idea and I get it. I'm just going to sock it to the federal government and start turning it on right away. And that might
not make the most sense. And I mean I can take a almost on a weekly basis where somebody comes in with that attitude. It's not our job to try to change the attitude. It's too show it why it makes sense
or why it doesn't make sense as it relates to social security. And you know, one of the things people do is they turn it on too early at sixty two to the earliest, maybe waiting, especially depending them on if you're working, maybe wait till full retirement age or the higher breadwinner if you're a married couple, you know full retirement based is based on your date of birth. And you know where I was going married couples, When the first
one passes, the higher one remains. So just make sure you're really thinking it through and you know where and how and how much you're going to receive at the different stages. So guaranteed income is a big part of it. Social security it's always been highly politicized, will be this year as well, and both sides will say this or say that, but the fact is, you know something has to give. Of course, then you get to that
Medicare age that's a lot of fun. Well not really, you know at sixty five and you know there's ads on TV and everywhere that just will just make confusion. Well I was told that just last week. I had a gentleman from Apple Valley in and Glenn, who handles our medicare in Isabella. We're visiting about that and he goes, I was told I had to sign up. You have credible coverage through work or your wife does. Right, Yeah, well you didn't need to sign up then, So make sure you
know medic Party eight Medicare is free V is not free. So make sure you have a way to cover that if that ever comes into play, because life's calendar doesn't always cooperate with your calendar, and health can obviously can get in the way things so quickly, and you know Part C, do you need to bridge the gap. Maybe you're not sixty five and you retire, then he gets sixty five, look at all your options and make sure medicare
is not long term care. So if that concerns you, we have access to all the companies, and you know, it's not a fun thing to talk about, as you and I have discussed, but it's important. Maybe you're on a bunch of medications. Prescription drug coverage is part D. There's different formularies for that, and insurance companies make adjustments and shop it out every
year. You know, we help a lot of people in this area and we teach them Medicare made simple class at various colleges and community education centers. And it's hard to navigate through the healthcare world, and as you get older, oftentimes people are not in the right things and they're missing opportunities. So it just gets hard to does no doubt about that, does you know, Larry? For everybody who's listening the things that you've walked through right now,
I think they can feel very overwhelming and very confusing. And we've said this numerous times here on the show, but I just really want to reiterate this. First off, you have no reason to be embarrassed if it feels confusing or if it feels overwhelming, because it is. You know, when should I take my Social Security? Should my spouse be taking it before I'm me? And what different medicare you know, plans do I need to be in,
what am I going to pay? What do I need to a lot as far as finances are concerned when it comes to paying for my health care in retirement. These are major life changing decisions. And I know that if people go to Havenfinancialgroup dot com they can find a list of different educational seminars that you guys hold in different locations around the cities so that they're close to
people and they can get there and they can learn more. So I really want to highly suggest that if you're thinking about this and it's feeling a bit overwhelming, or you just have questions right this minute that you'd like to have answered, there's two ways to go about it. Attend one of these great seminars. Go to Havenfinancialgroup dot com sign up for one. They do fill up quickly, so be sure you check it out. Or you can call.
It's even Financial Group at six one two five zero four eighty four hundred again sixty one two five zero four eighty four hundred, call and see if we can get you in for a consultation to try to answer some of these questions and begin the process of working together to put together a golden retirement iras at four one ks. Again, these are also horses of income once you hit retirement, but you've got to be aware of when you can start to
draw right. Yeah, you've been putting it in these accounts. Hopefully you have your whole life and there's some key timeframes there. You know. The four to oh one K is the employer sponsored plan which we do tons of rollovers with four O one k's or if in four O one k's you're not at the work anymore. There's iras you know you want, how do you want to protect that? You're going to rely on it probably for income and
retirement after fifty you can make up to make those makeup contributions. You're going to want to do that. Here the dead tax deadlines coming quickly. You know, when can you start taking money out of those iras without penalty because you don't want to pay penalties. That's fifty nine and a half and then it's seventy three required minium distributions. Much thought is given into that because it means that Uncle Sam now is making them make you take it out. Is
the market going down? Is it going up? Do you have to take it out? A lot of should go A lot of thoughts should go into that. It's based upon your age, and it starts at about four percent and goes up. And again that age is seventy three. So tied to that is if you are fortunate to have been paying into a pension at sixty five, you get about one hundred percent of what you put in. Just remember, just like social Security, if you take it early, you're probably
going to get a discounted amount or a smaller amount. Just it correlates well with social Security. So the longer you wait, the bigger the check. And post normal retirement, hey you're still working, maybe you love to work. After sixty five, those pension credits are going to continue and probably increase the amount you're going to get and income re retirement is the name of the game. So all these yes, it can be overwhelming. We don't want
it to be overwhelming. Some of these things aren't fun to talk about. But it's amazing to see folks when they do engage and they do have discussions, and people spend time, and we spend time, and we do spend a lot of time, at least as much time as people want. They develop a confidence, anxiety goes away. They're grateful. Thank you, Larry, Thank you whoever, what my investment team, whomever, for spending the time to help us understand we're in the middle of taxison. Lance is our
CPA. I can't tell you how many times I hear our CAx prepare. Our CPA has never spent time with us. And Lance spent an hour with his whiteboard outlining why we're doing what we're doing and what makes sense. And it's good to see smiles on people's face. And that happens when you give
them the time and the energy to help them understand what they're doing. Yeah, Larry, I can't imagine anything more relieving than sitting down with someone and just understanding the process and beginning the process of putting together the perfect retirement and not laying awake trying to remember all these dates, all these ages, you know, knowing that someone else is working with you to make sure that you
hit all the milestones that you need to hit again. It's six one two zero four eighty four hundred, or you can go to Havenfinancialgroup dot com. Coming up, let's transition into a new life of retirement. It sounds very easy, but there are a few things you might well want to remember. You're listening to 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.
Welcome back to the Haven Financial Group Radio Show. I'm Larry Kalvik, founder and CEO of the Haven Financial Group and you can reach us at six one two five zero four eight four zero zero and please give us a call, ask questions, take advantage, get on the calendar for the No Cost Retirement readiness review or visit us online again newly revamped, so many tools, Havenfinancialgroup, dot Com. Transitioning into retirement easy difficult. Let's talk more about that,
Kim. Well, let's make it easy for everyone right as we talk about it. You know, all of us have had transitional times in our lives. We have, you know, we transitioned as kids into school, and then we transitioned into college and the working world. And then you know, many of us became parents, and and and then you begin this trans you know, this transition into you know, not keeping that constant schedule,
you know, not having to be somewhere every Monday morning. We said to you know, Larry, we have those Monday mornings, right, we do. We all know what they're like, and it can be really great, but it for most people takes a bit of time and a little adjustment. So let's talk about some of the things you advise your clients to be aware of and think about. And some of this is beyond just their finances. Yeah, fa like, for example, finding some hobbies right right, Yes,
And your lifestyle depends is dependent on the finances. Whether you like to
talk about it or not, They're really dependent on one another. And you know, we deal a lot and see a lot with the transition of individuals or couples that have retired because we're helping people prepare for retirement and then we're there to see the day when they retire, and we like to do extra special things for that special retirement day after all those years of working, and you know, you had structure, you work there for years, You develop
friendships there, you know a sense of purpose at the job. And transition is different for everybody. You know, some transition very easily. Others don't transition well at all, and they go back to work at a part time job. So again, oftentimes we'll see couples, maybe at least one of the couples delay a thirty days just so you're not doing it at the same time for obvious reasons. Honey, I see you more now than I ever
did, and that's an adjustment. But again, you develop your social your whole social atmosphere was there, and you know, I think of I reflect on one of our clients, and unfortunately we lost her to COVID in the middle of it, and she was a Delta flight attendant for years, just a vibrant smile and she retired early, took a Delta package, which we helped lots of Delta people with in that time, in that era area of time where they offered packets, and I remember seeing her. She took she
I think it was forty one years. She was a flight attendant there and the first time I saw her, I was retirement. Oh, I don't like it at all. And she goes, COVID made me retire two or three years earlier than I wanted to. Not everybody adjusts, others really do. And I'll never forget that, her daughter telling us that COVID took her and she just was vibrant. But so what do you do you? What
are you going to do in retirement? What are your hobbies? You know, we hear about all kinds of them, and you know, not everybody could do this. But I just talked to Mike and Darlene a couple of weeks ago, and they're both retired. And Mike and Darlene, where you
at. Well, we're in California, we're head of Arizona and they're touring all over and there they're rv they're staying in parks not that expensive, so there's waste to cut corners or save even even if you want to travel and travels when we see that's extremely popular, takes money, so make sure you're budgeting that into your your budget. Maybe you're creative, which I'm not, but my two brothers and my dad are and they can fix and do anything,
and I just didn't quite get that skill. But creating bird feeders, you know, pottering or clay or all kinds of different hobbies I got. I can think of several different clients that gets into a lot of woodworking. Do you play golf now? Golf occupies time? You know the country club? Pickleball? Oh my goodness, I mean I have so many clients. That is a that is a very popular, very popular sport. Unfortunately, had one of my gentlemen clients actually threw his knee out and playing pick a
ball here recently, so that didn't go so well. But you got to do something well, you know, in Larry, I think people work so much they don't really even know what their hobbies are. I mean, you know, you sort of have to sit down and say, what is it that I'd like to do because you've spent all of your time working and then catching up on the weekends and then working again, you know, Monday through Friday. So I think a lot of people aren't even aware of what they
can do. Yeah, no, I completely agree. And you know, I worked for a different company for quite a few years and started having financial group nine years ago. Well, I almost pursued golf as a career and I haven't played golf for nine years. And my wife's like, when are you going to pick it back up? Well, it's called driven to work helping people. And by the way, four daughters in college different colleges.
Maybe that has something to do with it as well. But again, just discovering who you are and making sure that your plan includes all the things that you want to do. It takes money, so I hope I got it. You got to budget that in you got it. You have to. And you know, others just want to visit family that they haven't been able to spend time with, or family or friends or whatever it is, or
read a book. I'm not very good at that, but I know a lot of my clients they're really good at reading books because I've heard about In fact, I have one of my clients that actually goes around to all these different bookstands on that are on street corners, and she's read more books than I'll ever read, and more power to her. She's highly intelligence. Absolutely.
So let's talk about this though, Larry. When you meet with, you know, someone who's putting together their retirement plan, you must go through what it is they plan to do, what their hobbies might be, because as you've said, life takes money, and activities and travel and you know, even hobbies they take money. So you must walk through this with people. Always we build out projections. We factor in based upon our conversations,
what kind of hobbies you like to do, what do they cost? We want to be as accurate as par possible, and certainly don't leave them out. I mean they have to mean the more you have into the equation, the more accurate the equation is, the better results you're going to get. So yes, it's based upon all the conversations we have. How expensive is it budgeting it in? What are you at? What's your average spending on
travel? Let's factor it in. You know, their early years maybe a little more, the latter year is a little bit less, you know, So all those things need to be into the equation to get is close to the projections, and we're projecting, you know, and our Monicolor Carlo projections, you know, thirty thirty five years planning for the long run to make sure that you don't get halfway across the desert and you run out of water. So, yes, this and this is ongoing because life happens, Life
happens, and this needs to be modified. You just don't plug it in and leave it plugged in. Things happen. We get older implementations one thing, but keeping it, monitoring and adjusting it as we go. It's why we don't have any quotas how many times we can get together, because you never know when something mom or dad passes away, there's an inheritance that comes into play. Taxes happens every year. It's not, hey, let's get together once a year, maybe twice a year maybe. Because all of these
things, all these retirement puzzle pieces, they need to be coordinated. They're interconnected, and so often they're disconnected or if they've never been connected. And in retirement, and again, that's a whole different season of life that requires
different attention than when you were thirty or forty years old. Sure, absolutely, Larry, do you find that you have people who come in and they say, well, we're not going to do much because we want to make sure that we leave some for the kids, or you know, we're not going to do much because we're too afraid to spend money at that point, and ultimately, you know, their quality of life just dwindles very quickly as a result. You know, I do see that, and it's very unful
fortunate. And you know, it's a fine line because some people have no problem spending everything quickly. In others they joke, we're just going to spend it all. Well, I know what you've spent so far and why you've put together what you have. It's highly delta you're going to spend all this. So legacy is important to some people. It's why having an estate plan is so important. You got to live too, so it's finding that sweet
spot. This past weekend, my wife and I were out of town, but we got invited and carry our state planning attorneys spoke to about eleven to twelve hundred women at Northwestern College. We were invited to that and she spoke to about eleven or twelve hundred people about estate planning at an early age throughout life, and end of life, and we're very privileged and what a great response, and we're very appreciative of that because a lot of people have not
given it the thought that they should. It needs to be done, really when you have something to protect kids or loved ones's spouse and then of course latter in life, if you're not of sound mind er. Although thing so things we don't like to talk about, but you're right, are you going to spend it? Everybody's different Again, it comes back to shot one glove
fits. Also. You know, if you're that person who doesn't know if you're in a good spot, you're not getting the attention you think you should because by the way, you're paying for whatever attention, and if you don't know what you're paying, you should do what you're paying. Nothing's free. But most people have no idea a variety of these things that they should be doing because nobody's giving them the advice. Specific to retirement, it's just been
a lock and learn. I did it when I was forty to fifty, and I just keep doing the same thing. And that can lead to a bad recipe, especially for retirement. Six one two, five zero four eighty four hundred. If that's the Haven Financial Group number. You can call there and make an appointment to sit down and have a consultation with Larry or someone on his team. And be sure you check out some of those educational seminars
at Havenfinancialgroup dot com. You could sign up there and by the way, they fill up quickly, so I would highly suggest that you check that out immediately. So come in your way. How to thrive, not just survive in your retirement. This is the Haven Financial Group Radio Show. Don't go too far. We're gathering more important insights and retirement Paice Devenment 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. Welcome back to the Haven Financial Group Radio Show. I'm Larry Kolvig, Founder and CEO of the Haven Financial Group. Thanks for listening this morning. A bunch of retirement topics. Give us a call six one two five zero four eight four zero zero, or give us an email. Shoot us an email at
Havenfinancial Group dot com or visit our website. Over the course of our show today, we've been talking about this timeline, about how you know the economy, what it's done in the past, and how history can show us how we need to prepare retirement for the worst but hope for the best. We've talked about some of the things that you need to plan within your retirement to make sure that you make the transition in a good way that makes you happy
and is fulfilling for you. So to do so. You really want to thrive, you don't want to just survive, and that means planning for just about everything, right, Larry, it really does, it really does. Think about all the factors that go into it. There's going to be setbacks again, unexpected setbacks, surprise, medical expenses. I hope they're too a minimum of course. You know. Inflation it's here, it has been here, market downturns, upturns, bullish and barriers. They're going to happen,
factoring me in. It's just the way of life. Liquidity. A lot of retirees do not have enough reserves to provide a comfortable retirement. They you know, we like to see a balance between liqu with money is easy access protected investments, where you can't lose principle, and then stock market risk investments that also go with at in a good balance extremely important and I see a lack of it on a daily basis. Income I can't say enough about it.
Income is the key to retirement. Maybe you're blessed to have a pension, great social security will be part of the equation fantastic. Is that enough to have a comfortable retirement or eventually do you need to start drawing off of those other things like your investments, retirement accounts? And tax efficiency? We talk about it so much. We're in the middle of tax season. If you don't have anybody or if you have tax questions or need tax prep lance,
doesn't a great job factor in the tax piece extremely important? You know? I always say we're forward thinking tax planners, making sure we're doing everything underneath the tax code that's going to change in twenty twenty six. Don't let be left in the dust on that. And you know, are you the type that just brings your box of documents to your guy or gal and then picks them up and never have a discussion for retirement? I would say that
is not enough. Are you talking rough conversions? Minimal texts, ramifications. All of these are extremely extremely important. And then, by the way, in retirement, plan to have some fun. You know, Ed from Lakefield retired from coke refinery here he was recently and I'm like, what's on your bucket list? Dad? Now mind you, he's seventy eight years old. Well eran on on my bucket list is to go skydiving. Okay, Ed, seventy eight, that's on your bucket he goes, and I'm going to
do it. And knowing Ed, he's definitely going to do it, So he's going to do it. Whatever your plans are and whatever your goals, have fun with it. But in the meantime, be prepared, being proactive and having a plan in place might lead to that successful retirement that you're hoping for and make it a reality. Make sure your plan is adequate and is where it needs to be at this stage of the game. Well, I think one of the most important things, you know, when people think about
those golden years is number one, they do want to have fun. They've worked very hard in their lives and they want to have fun, but they also want to have comfort. Lair. I mean, I just you know, I think one of the most frightening things that I have seen in people around me who have retired is just knowing that they have enough number one to just make it, and number two for the bumps in the road. That just seems and that sort of circles us back to the very beginning of this,
and that's that bumps in the road do happen. They're going to happen to everybody, whether they're happening out of your control or if there's something that's happening within your personal life. And that's a really important part of this piece, it seems it is when you have specific plans and goals to achieve in your retirement, it's much easier to budget effectively for your dream retirement. So as much as people that I don't like the budget, I don't like to
do this. There's a lot of things I don't like to do, but a lot of things we should be doing to make sure we're tending to our situation. Your spouse relies on, your kids or grandkids or whomever it is. Put yourself in the best spot and the best position, and that's by working with somebody that in all these retirement puzzle pieces and all these areas. They don't have to be under the same roof, but they should be getting
the same attention. They should be coordinated, and we're very happy to have all the multiple personalities in house. And by the way, our new construction phase is all done. Offices, we've got more space, and I noticed we already filled them up as I was here this morning, So we're just you know, we love spending time, we love educating. The retirement years can be ten, twenty or thirty plus years. At the end of the day, the big questions we get do I have enough money to retire?
Or at what age will I run out? There's something to say about peace of mind, and we deal with a lot of medicare and long term care, the investment and team wealth management, small, medium or large. If you're the type that buries you're in the sand and it's embarrassed and don't want to talk about it. You feel threatened, and you come in and somebody's going to sell you something. You can wipe that off the slate right now. Yes, we help a lot of people at Haven Financier Group in all
these retirement areas, but at no time, this is your time. We're there to answer questions, spend the time with you, and ultimately it's your choice of who you want to work with. But again, require the attention, know what you're paying, and at the end of the day, don't be ashamed to ask as many questions and come in as much as you want. We find that extremely important well, and I think it makes Haven Financial Group very unique because I don't think that you know, people are going to
find that everywhere they go. Usually it's a once a year kind of thing, and you're in and you're out and you're finished. And I love the fact that you Larry personally and everybody in your office believes in it. Education, so you guys have a lot of seminars and you varying topics. Any idea about some of them that are coming up? Yeah, we just had two this week and pretty much we have one or two every single week as it relates to Medicare made Simple classes, social Security, and tax class.
We teach the most of those at various colleges and community education and libraries. I will have a couple. I don't do many. We don't do many retirement dinners that we have. We only do a couple per year. I think we have one at Jensen's Supper Club coming up. You can find that online where we cover everything related to retirement and Jensen's is really good. We partnered them. They have really good food too, so I always joke if the content is dry, the food is really tasty. So at the end
of the day, it's all first comfort served. There is no cost. You don't owe us anything. We want to make our service services available to you in the most comfortable way setting, which is why our office is very low key, laid back or coffee snobs, and we'd like to have as much fun with a serious topic as it is as we possibly can. Haven Financial Group. If you'd like to set up a consultation, go in, try out the coffee, see the new offices and sit down and chat with
Larry or a member of his team. You need to make an appointment. It's six one two five zero four eighty four hundred six one two five zero four eight four zero zero, And be sure that you go online and check out the times and the locations of some of those seminars that are coming up. It's Havenfinancialgroup dot com. You'll see some of the topics and the dates
and the locations there. They do fill up very quickly, folks, so I would advise that you get on that site and check it out as quickly as you can, pick a date or two that you can go and hear some answers to questions that you might have associated with retirement. Larry, this has it's been very fun. I think we've done a great job of circling all the way back around from talking about the Great Depression to talking about how
you can have fun in retirement. Kim, it's always enjoyable. Have a blessed week and we'll talk to you next week, all right, Larry, thanks very much, have a great week everyone. Investment advisory service is offered through Guardian Well Strategies LLC. Haven Financial Group and Guardian Well Strategies LLC 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 as safe and secure investments and guaranteed income streams only refer to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company.