This is the Haven Financial Group Radio show. Each week we get together to talk about life, living and planning on living life after retirement. If you're looking for a clearer picture of your retirement plan, the team at Haven Financial Group is here to offer you clear financial guidance and help you realize that planning
for retirement can be simple and easy. Have a question for the team connect now at Haven Financial Group dot com, or we have team members waiting to talk with you off the air at six one two four four one two four four one. Yes we knew as always, and thank you so much for listening this morning. I am Bill Seller along with Haven Financial Groups Founder and CEO Larry Calviig. How are you, my friend? Hey, good morning,
Bill? Doing well? Yeah, all right, a little bit of Larry gitis and a little tench of a call, but we're looking up. Yeah. Well, there you go. It's springtime, right. The stuff happens that is there you go. Well, we'll try to battle through it with you, my friend, and we'll talk about a lot of stuff today that has to do with our retirement and the money that we've saved all of our lives. As everything is trying to attack it more than it has in
the last forty years. It's just every time you open the newspaper or watch TV. Right, more news about something Today, we're going to talk about how the banking crisis has the FED revising rate hikes. Also a couple of more controversial ideas for saving Social Security as well as our goal prices heading for a new high and should it be something you should think about buying. Well, Larry're not going to talk about that for you as we move forward today.
But I thought this was kind of interesting. Did you see this about the Mustang is now going to be the only gas powered muscle car made here in America? Did not know that? Yeah, it's Chevrolet just announced they're going to stop making the Camaro just a few months ago. The Dodge Challenger kind of met the same faith they're not making that anymore. But GM says the Camaro is going to be back in some form or fashion, but right now that leaves the Mustang is the only muscle car. Did you have a
muscle car growing up? Were you into cars or I was not into cars? You know, I think being from the farm, you think I would because my dad had, you know, different cars. But you know, my wife being from Fairbo, she actually knows cars much better than I do. We'll go get her. We'll talk about if when she sees like old vintage cars going down the road, she can that's a seventy two, that's a seventy two Corvette or this while I'm like, what, how do you
know that stuff? If my dad had a my dad had a I think it was like a seventy four Nova, which is if you remember the Nova man the thing had. I'm not much of a car guy, but I do remember. It had a huge engine and the body weighed about four pounds, so it just it flew. And just when I got old enough to get my license, he sold it and bought a station wagon. Of course, because that made sense. Yeah, we went from the Nova to the Vista Cruiser. It's like, yeah, that's a good time. So that
was my extent of getting anywhere near a muscle car. But anyway, I thought that was interesting that the Mustang is the last ones still being here in the US. So if you're waiting for your children to bring up the subject of your finances, you could be waiting a long time. I said right before the break that they would give up their inheritance if this happened well.
According to a recent Wells Fargo survey, twenty percent of adult children say they would be okay with getting nothing at all if it meant that they didn't have to have that talk with their parents. I remember this like it was yesterday, and my folks passed in twenty sixteen, but I remember for years my mother tried to talk to me about them not being here anymore, and I didn't want to hear it. I finally just sit down and do it.
But the question is is it really as bad as all that? And you know, I think again that depends on you, right, Larry could be or your family could handle it well, well, most definitely. You know. You know, we're big into a state planning educating on that. You know, we say a state planning is done for the kids. It's not always done with the kids, depending upon familial situations. You know, all
the families are different. And you know, I kind of surprised because it's the study said twenty six percent of adult children would rather deal with their parents to state after they died than talk about whether they're alive. And you know, to me, that's sad. You know, we are a very very tight farming family. You know, I'm the oldest of three boys, mom and dad who who are in Mexico. Mom and Dad enjoy they love going to Portavarada. But you know, yeah, they I helped them put together
in a state plan. Wasn't involved in them, but I instigated it. Thank goodness, because you know, a very very vanilla family. But at the end of the day, you know, having your ducks in a row, you know, communicating to the best of your ability. And it's different because if you have three, you know, three different kids, there's chances are that all three kids don't have the same personality. And the reality is when mom and dad are gone or loved one's grandparents, whoever it is,
they're no longer there to mitigate and monitor things. And sometimes money sometimes that can bring the worst out of people. So, you know, I just read a study that eighty six percent of Americans don't have a competent a state plan. You know, that much to do. Back in the olden days, you know, whatever you whispered or wrote down on a napkin would probably be honored. Well, we live in a very litigious society today. Good luck on that one. Okay, I mean again having a revocable trust.
Carry is our state planning attorney. We were very closely with and there's no cost for an estate planning consultation. I know, after last week's show, we had somebody call in and say, you know what, we really need to have a discussion about what we should have done. And that's where it starts. And there's no cost for that. And Carry is just very knowledgeable, very thorough and should you have wills most people? Should you have a
revocable trust, not everybody. You know, your durable powers of attorney, the ability to make decisions. It's not automatic, even for married couples. Okay, you need to assign that. You know, our adult children they have those legal documents. I hope we never need them. But being proactive not reactive, you know. And it's really sad when I see this many kids not want to be involved, and you know what that there's regrets there
and you know, just two times even last week. You know, I had a couple from Lakeville that took care of matters and they go, wow, we feel so much better now that we have it done. And you know, Apple, a couple from Apple Valley unfortunately they just you know, lost somebody here recently, and little did they know that Mom did have things
done. And you know, even though things are done, we're there to hold their hand because these two sons didn't know what to do when Mom passed away and a couple of weeks ago here in Apple Valley, and you know, both Carrie and I were in the conference room with them. That's our job is to help them navigate because a lot of people have never been through it. And you know, when you lose obviously a loved one, which
we have recently, there's lots of emotions. And that's why I encourage folks to be on top of this before you need the stuff because by that time it's probably too late and unfortunately things may not go the way you want them. And you worked all your life to get here. Okay, don't mess up now. Yeah, and if I can, just you know, just tell anybody anything. If you don't want to have that talk with your parents, it's kind of too bad, man. You should. You should.
And look, nobody wants to talk about it, right, Nobody wants to talk about folks not being here anymore. But like you said, thanks to the lawyers and the litigious society we live in. It's better that you have that talk and you understand where everything is and how to deal with it all. And that's one of the things that Larry and his team can help you with you talking about the estate planning, right, that's part of that complimentary
retirement reading this review. Is your estate intact? Is it set up so that when you are gone, those that are left behind, you know, have an easier time of dealing with you know, for lack of a better phrase, the business of you dying. And that has to happen, So again, give them a call at six one two four four one two four four one six one two four four one twenty four forty one. That's all part of that complimentary retirement writing this review that Larry and his team will do
for you. And what's great is that you guys are kind of like a one stop shop, right, I mean, all these folks are connected to you, so that people aren't having to go to eighteen different places to get this all done right, And it's the best compliment we could get. And that what's intentional and I'm very blessed that it's worked out that way. But
we want to hold your hand throughout all the different retirement topics. And to take the topic we're talking about down to a little even more elementary level, is folks need to have their beneficiaries up to date and current. I can't tell you how many times a month I'll see accounts and statements that have outdated beneficiaries, no beneficiaries ex spouses as beneficiaries, or someone you don't want to be a beneficiary of what you worked hard for. It sounds elementary. And
make sure things are titled properly. And again, at the end of the day, we can just do the best we can. But eighty six percent of Americans don't have a competent plan in some way or some fashion, and that's unfortunate. But there is no automatics anymore, and so we have to
do our due diligence and we're here to help people anyway we can. So again, the number is six to one two four four one twenty four forty one at the Haven Financial Group. And as long as we're on the topic here of estate planning and leaving things behind, Larry, you know a lot of folks like to leave behind memorabilia, right or collectibles, And if your intention is to leave your collection to be sold. Kiplinger recently did an article
that brought up an important question about that. Well, your beneficiaries know what to do with it? What is the collection worth? How to sell it? Well, what they say is, first of all, keep an up to date inventory, which, of course, if you're a collector, you probably have the inventory, but it's got to be available right that the kids have to be able to find it after you're gone. Right, Number one, do your kids have any interest or are you going to leave your family
and alerts when you're gone because they have no idea what to do? You know, you said the first one, you know, keep an inventory, an acrid inventory, that's number one. And then if you have any type of supporting paperwork, like you know, appraisals or reason the most recent appraisals, or some sort of certificate of authenticity. You know, it doesn't have
to be high tack. It could be just in a folder somewhere accessible where your beneficiaries you know, can see it and you know, maybe maybe some notes as far as you know, if something happens, you know, maybe name three auction houses worthy of looking at what you have when you're gone. On where and how to sell it if that's what the goal is. So you know, this could be sports memberabilia, stamps, you know, if
antach cars or collections, any of those things. This also should be part of the estate plan clearly defined so as to what you want to happen, with as much background as possible, so the kids, loved ones airs, whoever that is, you can make it as easy for them as possible. So if you don't have your plan in place yet, please call the folks of Haven Financial Group six one two four four one two four four one again
the number six one two four four one twenty four to forty one. Get in there and get that complimentary retirement rating, this review and talk to Larry and his team because having that plan is so very much important. Coming up here, we're going to talk about saving social Security again. We're going to dive into two of the plans that are under consideration right now and buyer beware
big time. What's that about? Well, you'll find out as we continue with the Haven Financial Group Radio show here on Twin Cities News Talk eleven thirty and one h three point five. F app I hear the Jones that she is new Whispers of She's coming in in twelve thirty fives reflect the Stars that guidment Twinshow thank you for listening to the Haven Financial Group radio show along with Haven Financial Groups founder and CEO Larry Calvig. I am bill seller and Lary
let me ask you you ever heard of text neck? Oh? Yeah, well, apparently it's a real disease now and it's caused by cell phones. Cell phones actually literally causing a pain in the neck. Apparently, repetitive smartphone used can lead to what's called text neck. It's a strain injury in your neck. It's becoming quite common, and the pain is in the neck, shoulders, even the lower back, affecting teens and kids mostly, but also
adults. A doctor at the Cleveland Clinic contends that looking down and dropping your head forward can cause wear and tear on your neck, and most people screen times are well up into the forty hours a week kind of thing. So he said, oh, so text neck, text what did you think? I said, I wasn't sure. But now that you say text neck and put it together with cell phones, yeah, I don't think I've called it this, but my kids and my wife Rachelle, yes, they love those
phones. Yep, and I've said numerous times and they don't like it. You know what, over time, this is going to affect your neck and shoulders. And that's what this is. And you know what, I'm not going to say I'm right, but I hope I'm wrong. Go ahead, I hope I'm wrong. Ahead. Yeah, it's it's a real thing. I believe it. Text neck. And the doctor said also, the average head weighs between ten and twelve pounds, so keeping it bent over can be
a strain on your neck. Absolutely. Once again, Larry, I come in above average, I think as well. I feel good about that. Yeah, they used to call me pumpkinhead in college. That's how large my knocking is. But a little early in the morning to bring that up. So let's just say they don't make hats the right size for me usually either. Thank you, thank you. Yes, there you go, there you go. We're we're gonna talk social security and efforts to preserve it continue.
And one idea is the creation of a sovereign wealth fund. I'm not sure what that is, Larry, can you explain what it is and how does that work? Well, this would allow if the federal government to invest moneys in stocks to fund the social security retirement benefits. And I did say the federal government to invest question mark. Okay, for example, this is done in other countries like Norway to some success. But you know they're going to
invest in stocks. Well, how do you think that plays out over time? For example, the Norway Sovereign Wealth Fund, they were just they were heavily invested in the bank bailout with the Silicon Valley Bank Financial Group which is now filing for a Chapter eleven. So how safe do you think those funds are? How long do you think it would take before there was something that was was not accounted for and then all of a sudden the money's not there.
So I'd be extremely cautious, extremely careful. You know, when they invest in crypto, would they be part of the FTX things? Who knows. I'm not trying to be negative here, but there's a lot of concern with it. Now. With that said, the Social Security Trust Fund is running out of money and we have problems. By twenty thirty five, there's a major shortage. So when it comes to Social Security, it's always in the news, but we have issues, and they're going to talk about changing
a variety of different things. And you know what, change isn't gonna come easy because you know, us and the listeners have been paying in your whole life and you want some of it back. You know, the question is the accountability. Where's this money going? But you know that's why we teach lots of classes on social security. Don't take turn it on just to turn it on. But you know what some of these changes coming down the pipe, like raising the age to seventy. You know, they've already raised it
from sixty five to sixty seven in nineteen eighty three. And you know, supporters say it could create you know, billions of dollars in extra money. Others would say it's a benefit cut. It is a benefit cut, but my question is what gives Something is going to have to change and this is going to be very difficult situations. But again, the changes like changing the age, they could change the social security formula. I talk about this in
my class. You know, so security is a formula which we're not going to get into weeds, but they could change the formula. And my joke is, you know, I'm sure that government would consult with us first. Yeah, right, okay? Or means testing is another one. If you've done a good job saving on your own, well, then you're not going
to get SO security. Well, all these are ways to cut and maybe you know, help the balance sheet of SO security, but none of these are very attractive attractive, And then it boils down to it, Well, if we do make these changes, what's to say they're going to be accountable and not spend it somewhere else? The transparency of spending. So you know, it's tough decisions. And you know, what was it, Macron over in France just recently, you know, threatened to raise the age and there
was an outrage in the streets, riots in the streets. And what's to say, I hope not, But what's to say that couldn't happen here? Yeah, because there's people that rely on social security, and our major advice is to you know, get educated, when should you take it, Why should you take it? And put some thought into it, because social security is a major piece of income for Americans in retirement, and a lot of
times people don't give a lot of thought. They just turn it on, you know, at sixty two and only one to two percent, wait till seventy and everybody's situation is different. It's not one gluff. It's all what makes sense for you, your spouse and your family. In overtime. That can be a lot of dollars, So put some thought into it, in some education. Yeah, you know, just a couple of things you mentioned. They're kind of worrying me a little bits of all the federal government investing
in the stock funds. Yeah, for a couple of reasons. Number one, well, they don't manage money well anyway. Number two, who controls that? Right? I mean? And again you know me and my conspiracy thought here, what if suddenly all of these funds are being invested into stocks that are companies that the folks in power have a stake in valid you know,
And I'm not It's really weird. Man. The older I've gotten, I didn't used to be a conspiracy guy, But the more I live and the older I've gotten, I'm thinking, Man, there's stuff going on here. You know, too many books and movies have been made based on real things that make you shake your head. But that would be that would be my thought, right, There's been too many news stories over the years that validate that stuff goes on and the big word accountability. When is anybody ever
accountable? That's a good question, because nothing ever happens on either side. It's just onto the next story. And that's very concerning when it comes to especially moneys and investments. Well, in all fairness, it depends who's in office as to how far the story goes. I'm sorry, was that out loud? I am so sorry. Let me let me move on from me and you you kind of touched on it as well. That Another possibility is raising the age to seventy. Are people going to get upset about that?
You know, just because he gets raised doesn't mean that you have to wait to that age, right, You have folks now that take it earlier, don't you? Well? Right now, yes, sixty two is the earliest. Seventies the latest in your FRA. A full retirement age is anywhere between sixty five and sixty six and sixty seven some months. And all that I mean just so I can jump, let me jump in real quick. Yes. So what that means is obviously that if you if you wait till your
full retirement age, you're getting your full benefit. If you start earlier, you don't get as much, right, full retirement age based upon your birthday. You get unreduced benefits anytime early there's a reduction in benefits. Anytime beyond your full retirement age, which I'm fifty three mine sixty seven full retirement age. You can earn delayed credits which gained by eight percent plus of the cost
of living adjustments. So just know and we help people. We actually provide SoC Security maximization reports and they're available to anybody that wants to just come and sit down with us. There's no strings attached, there's nothing other than we're gonna walk you through and you can make an educated decision. You'll leave with a roadmap to SO Security that a lot of folks take right to SO Security office and it makes it so much easier. But ultimately individuals make the decision.
We just help them along with the thought process. Right. So again, when you take it is totally up to you. It's not the same for everybody. Some folks are it's better to take it early. Some folks is better to wait till the full age. And again, these are the things that you might not know, but Larry and his team can help you understand. And you know, Larry mentioned the classes that they teach. If you'd like to find out where they are and when they are, just check
out the website at Having Financial Group dot com. They're all listed right there, and they're always full, right, I mean, you guys are selling these things out like like a rock concert. Yeah. Well, there's not a lot of people doing the education piece. You know, we had a full almost fifty people in Fairbeat this past week and I can't tell you how many people said, you know, thanks for doing this. You know this
is important education. We're not getting it. And this is just part of the education as it relates to retirement, and many people aren't getting the added value they should be and they're making decisions based upon about stuff they don't know, and that's a recipe for maybe the wrong decision. And we're very privileged to help people. Yes, we cultivate long term relationships, Yes we develop confidence, but at the end of the day, you should be getting more
attention. Many people should be getting more attention than they're getting and for what they're paying. Absolutely, and that's another great reason to give them a call at Haven Financial Group. These are folks that will care about what's going on with your money. Six one four four one twenty four to forty one to set up your appointment to go to the office, have that complimentary retirement. Reading this review, meet Larry and his team and see what they can do
from you for their six one two four four one two four one. Coming up here, we're going to talk about a surprising trend in the real estate market. Also the latest on the debt ceiling standoff, and how important and I mean really important estate planning is when it comes to everything from money to memorabilia and what you're leaving behind. It's coming up on the Haven Financial Group Radio show here on twin Cities News Talk eleven thirty and one h three point
five FM. Do much are you? Are you? Are you gonna eat? That's a really good question. I'm gonna tell you why. This is Bill Seller along with Haven Financial Group's founder and CEO, Larry Calvig. We appreciate you beating with us this morning. And you know, Larry, you and I over the years here we've we've talked about food. Right, We're both kind of into some good foods and yeah, some good snacks and all that. But there is just sometimes I shake my head about what are people
thinking? Uh, there are just certain foods that don't go together in my book, and apparently the folks at Hidden Valley Ranch don't agree with me. They have announced that they are collaborating with a Brooklyn based ice cream company called Van Lewin. And yes, they're creating ranch flavored ice cream. Yeah, I'm just I'm not feeling it, Larry. No. I mean, neither salad dressing and ice cream have finally been combined into one. Would they say
this is their line into one treat. I don't know that that's a treat. I'm gonna be right. And apparently not the first time that Van Lewin has ventured into these odd flavor combinations. Back in twenty twenty one, they created a limit edition mac and cheese flavored ice cream, and we all know how well that went because I've never heard of it go. You know. I'm the same way with beer. You know, I'm not into a whole lot of the craft to beer seen and don't put fruit in my beer.
I want my beer to taste like a beer, right. I want my ice cream to just taste like ice cream? Is there anything wrong with that? Am I crazy? Yeah? And listen, I don't boo who anybody who's into that stuff. But just for me, I just like things to be what they are. Larry. I'm a simple man me too. We're gonna move on. So this was kind of interesting, I thought, and I wanted to get your take on it. More and more high earners apparently
are renting instead of buying a home. The Wall Street Journal talked about a Census Bureau figure that shows that the number of renters earning at least one hundred and fifty thousand dollars a year is up eighty seven percent since two thousand sixteen. And I read that and I thought, wow, that's kind of amazing and crazy. So and the other thing that popped into my head, really is is real estate still considered a solid investment If this is what's going on,
Larry, Wow, that's shocking to me too. I mean, what did it say between twenty sixteen and twenty one the number of renter households making one hundred and fifty grand or more rose by eighty seven percent. Eighty seven
percent. Wow. You know that is very different than the most of the clients we sit down with, who oftentimes were Baby boomers, are close to that generation who were very responsible bottom mortgage probably in mortgage rates back then we're fifteen to eighteen percent, and then over time, you know a lot of them don't have mortgages. And to see all these renters, you know, it's a real transition from those that we sit down with because you know,
you know, the happiest people in retirement don't have mortgages. Not everybody can do that, and we can don't we certainly if that fits we of that. Um, I just can't imagine those that we visit with on a regular
daily basis, rent it. I mean, that's just I don't know if it's a difference in mindset between you know, the Millennials or the Gen Wires or Zeers compared to the Baby boomers, but it would have to be because you know, home ownership has always been a staple and I guess maybe the younger generation likes more to flexibility or portability, and you know, the study shows they didn't like the you know, the expectations or what the homes offered.
Um, but man, this is you know, and also that said fueled by high mortgage rates, but historically six to seven percent is in high mortgage rates, especially the Baby boomers. Can the test that are listening. I grew up with rates of you know, three pere. We're giving money
away. It seems huge, but you're right, it's not that big, no. You know, this past week I actually had a clients and from shocopy, and you know, I thought the real estate market had settled down a little bit, but they just had a house selling their neighborhood for fifty thousand dollars over asking price. In shock of you, I thought that was
interesting. You know, I guess this is really surprising to me. You know, the renting situation for those high income earners, different philosophies of life. I guess I don't know a lot of these folks were tech people who are always on the move, right, you know, I've talked about that too, right, people not being as loyal to companies anymore. I have a job. Whereas in our day, in our parents' day, you got hired, you kind of stuck with the company. Now folks are bouncing around
all over the place. And I wonder if that has It's just easier to rent, right than rather to have to buy resell if I'm moving and all that stuff. I wonder if, like you said, the generations behind us are thinking that way, that makes a lot more sense. I'd be interested to see this study across the country. A lot of the folks we sit with have worked thirty to fifty years still at the you know, at the same company, so you know, ten year isn't what it used to be.
But we see it, and you're right, younger generation jumps all over the place, so indifferences. It's funny. I've got four kids, right, My oldest is about to be forty, my youngest is thirty one, and the oldest one bought a house as soon as she could, and the younger guys are kind of like, we're not quite into that yet. We
want to keep this. Sorry. I think it is a generational thing, to be honest with you, And I have friends who have talked to about when they were making up their wills and stuff, and they talk to their kids about leaving the house, and then their kids like, I don't want the house. I don't know what to do with it. So maybe it is a generational thing. I'm not sure. It's interesting, so interesting. Well, listen if you have questions about this kind of stuff, or if
you've got questions about what's going on right now with affecting your money. This is the time to give Larry and his team a call. People are standing by right now to talk with you off the air. Doesn't have to be a long conversation. This is just to set up an appointment. I mean, if you want to talk overaight ahead, they're going to talk with you.
But I know you're busy this morning, But just to set up your appointment to go into the office, get that complimentary retirement reading this review and let Larry and his team look over your retirement plan to see if if you're on track or not, and to see if what you have built can withstand times like we're going through right now. Six one two four four one two four four one is the number to set up that appointment six one two four
four one twenty forty one for your complimentary retirement Readiness review. Mentioned before the break that the debt ceiling is kind of in a stand still right now. No resolution to that standoff, and you know it raises the prospect of a first ever default by this summer. Larry, is is this another thing that we have to be concerned about or do you think things will get pushed again?
And you know kind of kick that can down the road. Well, they continue to kick that can down the road and half or I don't know how many years, but you know, there's lawmakers are growing more uneasy, There's no doubt about it. You know, we're talking about raising at thirty one point three eight trillion dollars. That's a lot of money. That's a lot of zeros. And you know, they fear there's going to be a struggle through eleventh hour and they're not gonna have enough votes in the Congress,
which is divided. And you know, this looks like a timeline where it could happen somewhere between July and September. You know, my guess is they're going to get something done eventually, again, probably at the eleventh hour. Incidentally, you know, the White House says House Republicans should they should just raise the debt ceiling with no conditions at all none. Okay, that seems like an open, open checkbook. I don't think that's a good idea.
And then the other side roundly rejects that approach and debands budget cuts. You know, there's so much politicization of all this stuff. You know, the reality is, you know, it will affect us we're going to kick the can down. They'll come to some sort of agreement. But what are we accomplishing? When are we going to tighten the budget? Is there a budget? You know, they've never seen. If we operated our family household like
that, we'd be bankrupt. But the importance individually and as a family, or if you're a couple, you know, working with somebody that can look at all the factors in your situation. You know, your current income, doing projections, factor and taxation, should you doing Rath conversions? You know, we talk about all these retirement puzzle pieces, coordinating them in a way
that makes sense at this stage of life. You know, we talk about walking through our proprietary process of discussing and having a discovery meeting and then coming up with some strategy that may be consistent or inconsistent with what somebody's doing, and then implementing if somebody wants us to help, you know, follow that strategy, and then over time, as life happens, family happens, health happens, we get older, you know, monitoring that and adjusting it and
again talking through things. Much more than forty five minutes a year, but maybe once a quarter, maybe more, maybe less. You know, there's no quote, I get it this every week. Well, how many times can we get together? As many times as you're comfortable so you have a good understanding of what you're doing. There's no quota. Okay, now we have to manage time, and we're gonna do Yeah. But the reality is, this is your individual situation. As much time as necessary. I think
that's important. Absolutely. As far as the debt goes, most of our debt is what with China, I guess yeah, you know, suppose that we could get them to just canceled out like we did student loans, right, like your optimism there. But yeah, yeah, then of course we have Russia and China, you know, forming this alliance which makes everything else it's interesting. Yeah. Well, it's just never easy, is it.
Larry listen, we're gonna take a break real quick. But when we come back, we're gonna talk about some adult children saying that they would give up their inheritance if this happened. We'll talk to Larry about it and see what he thinks. We appreciate your listening and being up with us this morning. This is the Haven Financial Group Radio show here on Twin Cities, New stok eleven thirty and one h three point five ff at Love then march Love,
then march go together like a horse and cart. Done. Was told by mother you can't have one without the other. And Welcome back to the Haven Financial Group Radio Show with Haven Financial Groups Founder and CEO Larry Call Big. I am bill seller and boy, what says love Larry better than artificial intelligence? Hello, Yeah, I want to make sure this work. I'm yep,
that's exactly what I thought. That's yeah, if you were somebody you know is getting married soon, here's an option for writing those wedding vows. For just thirty bucks, you can have one of the AI chatbots write your vows for you. This website called toastwiz dot com has been using it to write clever speeches and toasts for a while, and now they're offering it as a way to write vows because you know who knows more about romance than a
robot Larry. Of course, they're expertise is beyond this is where comprehension. So that's where we're going now. Man By goodness, and the chatbots participation in your wedding doesn't have to stop with the vows. Some couples have actually used them to perform the whole ceremony. I'm getting old at the right time. That's all I can say, if yeh, goodness gracious, So shifting gears a little bit here. Gold is getting a lot of attention from investors
right now. You know, CNBC reports that gold prices could soon hit an all time high. You and I have talked about this before. It seems like when they're there's inflation and there is stuff going on with our money, suddenly the gold ads start showing up everywhere on television. Is golden investment that we might want to consider, Larry or what's your take on that? Well, it's certainly a consideration. By the way, you mentioned gold ads.
You know, what are ads trying to do? They're trying to sell you something. Of course, the realit it is in times of inflation like we've had, in market uncertainty like now, you know, investors may you know, they may considering buying gold, and in doing so can benefit some people, depending upon their financial situation and you know, preferences if you will,
but not everyone wins. But buying gold, especially when the investment comes from the result of panicking rather than critical analysis, which we like to dig into, doesn't make sense in a diversified, balanced portfolio. Yes, maybe you know gold bars, precious metals, is it really liquid now if you have a bunch of extra cash lying around, maybe that is that is a good idea. But again it comes down to the liquidity factor now within portfolios,
whether it be ours with Schwab or somebody else's. You know, we can look at you know, gold ETFs or exchange traded funds or you know gold mutual funds and you know, compare that to you know, the physical gold, which you'd have someplace to store coins or something of that. But you know, I'm not against it, but in moderation, it needs to fit your situation. It's not for everybody. Yes, it's a hedge against inflation,
that's what's always said. But you know, any fact you're in, especially precious metals and commodities, real estate, art, those are all things people use in high inflation times like this, and look at all the options. Way, it doesn't make sense in your situation. And that's what we when we sit down with folks, you know, we're not going to rule anything out otherwise other than the fact it needs to make sense in your situation. That's the important part. Yeah, And again, where are you going
to store all that gold right now? If you're having its physical goal, if you're having trouble, I've got room if you want. Now you're at at all time high of gold was like in twenty twenty, at twenty seventy five. And I think that's anounced it's an in build. I'm pretty sure it is. Yeah, yeah, and they're projecting twenty six hundreds. So
on the surface, yes, that looks really enticing. But again, don't make these decisions based on panic and fear, which a lot of people, a lot of society has right now with everything going on, and it's typically not a good recipe for making good decisions. Yeah, no, No, Deciding to do things out of panic is never never a good idea, but unfortunately, at the psychology of investing, a lot of people do. Yeah, yeah, you're right. Hey also wanted to bring this up at the
last meeting that they had. The Federal reserved up its benchmark interest rate again by a quarter percentage point, and according to Yahoo Finance and The Street dot Com, there seems to be a little uncertainty about future increases and We've talked about this before, and this is kind of asking you to do the one thing you really hate doing, which is to look into a crystal ball that you don't have. But do you think that their rates are going to go
any higher this year? Do you think they're going to be cut anytime soon? What's your take on all this? Well? Whatever, we had nine raises or ten raises now and yeah, you know the last one it was twenty five BIPs or twenty five basis points. And you know now that brings it like four three quarter to five percent over since October of two thousand and
seven and the crisis. So you know the committee's mindset, you know, they anticipate that some you know, additional policy firming, if you will, maybe it may be appropriate in order to try to eventually get back to the
goal of two percent inflation. The problem, as you and I have talked about, is, you know, this is a really slippery slope of rising interest rates to cut inflation and the risk of going too far and then getting into a recession, which can we still obtain a soft landing, which we've talked about. You know, we'll see and you know it's a really difficult thing. And you know, then this recent bank crisis has got people open arms and the risk of the credit crunch, you know, bank balance sheets
not as strong. You know, that's why bring it to a personal level. You know, we can't control what everything else that's going on, but we can control to the best of our abilities, what we're doing as individuals, as a spouse, as a family member, loved one, as we look into planning for your situation now and into the future, and you know, all the retirement topics, getting your ducks in order, dot in the ice, crossing the tees, talking through these things with whomever you're working with,
and just getting the confidence to know, through good times and bad times, you have somebody to rely on, lean on and know that you can go to them to get answers. But we can only be accountable for what we know in our own situation. And yeah, there's a lot going on in this world and we can't control some of it. Yeah, there is, I mean, between the continuing war right, the Ukraine Russia war,
who right, who would have thought that would still be going on? To what happened with the banks, to the interest rates, and again I go back to the fact that it just amazes me that people, at least you know what I see, continue to keep living like it's not a problem. Right. I ran out the other night. Robbie shouldn't admit to this on the air, but I ran out to a little DQ in my system,
a little little dairy queen action. And the one I went to is located by a place that has a little strip area that has like three or four restaurants, and the parking lot was packed and everybody's eating out. Still nobody nobody cooks at home anymore, right, And to just see people are still spending, and it's kind of crazy to see that going on while people are
also complaining that, you know, things are bad with their money. Yeah, there is a reason why Consumer credit card Dead is again setting records continuously.
But you know, again, don't go down that that slippery slope and be careful with that, especially if you're close or in retirement, and you know, interest rates are rising, those those fees on those interest charges, they're gonna mount quickly, and you know what, if you're close to retirement, you want no part of that, right, And I don't think people
think about that, right. They hear interest rate hikes and everybody thinks about mortgages or borrowing money that way, but they're not double checking their credit cards
correct. Those statements are starting to show really big interest rates. So again, if you have worked your whole life to get to retirement, and you've done what you're supposed to do to put money away to help you get through retirement, now's the time to have somebody double check your system right to make sure that your plan is actually a retirement plan, because sometimes what we've put together isn't exactly what you know, what the folks in the business would call
a good retirement plan, and that's what Larry and his team do would have in financial group. They offer you that complimentary retirement readiness review where they will look over your retirement plan and let you know the things that are strong and the things that need some work. And you set out that appointment to get the complimentary retirement readiness review by calling six one two four four one two four four one. That is six one two four four one twenty four forty one.
Again you can go in sit down with Larry and his team get that review. No obligation to do any business with Larry, although once you've had the coffee and the cookies that they serve. I don't know why you wouldn't. Plus they're really good people. But again the number is six one two, four, four one, twenty four forty one. Get that complimentary where you retirement, reading this review, and get on the calendar as soon as
you can, because the spaces fill up very quickly. Let me ask you this, do you have a bucket list of things that you want to do once you're retired. I do. My wife and I have decided that travel. We've decided recently that we really want to travel. Kiplinger says that you should plan to do those things sooner than later. Though. They call the first ten years of retirement your go go years. Is that really something you should consider in a retirement plan or do you just hope you can keep going
as long as possible? To go go years are their early years where you're still able, you're mobile, you can get around, and you know, go to all the grandkids events. And all of a sudden you're getting those later years, and you know what, let's not go to all the events you will attend. Once in a while, things slow down a little bit, and then you get into the no go years where you know what, the couch looks pretty comfortable. I think we're gonna stay right here. And
each one of these years have different expenses. Factor in accordingly the earlier years. Yes, when you're mobile and able, that's when those bucket list items should be put to work. The bucket list Usually those items cost money, so have a plan and retirement and factor that in and buffered in. Otherwise no money, you might not be able to do those bucket list items, you know, the Alaska, the African Safari. You know, I want
to go see my ancestors from Norway and the Fiords haven't done that. So yeah, there's certain things you want to do, but they take money. You know, there's really these three elements of this in retirement. There's money, there's health, and there's time and all those are major major elements. And again retirement, are these the golden years and maybe things you never were able to do. You know, everybody's situations different, but know your situations
so you can make them as good as possible. And that's why we get together every week to talk about making those golden years the best they can be. One more time the phone number to get in touch with Larry and his team is six one two four four one two four four one, or you can find out We're about them online at Haven Financial Group dot com. Larry, enjoy your week, my friend, and I will look forward to get
together again with you next weekend. Sounds good bill ahead of least week, and as always, thank you very much for listening to the Haven Financial Group radio show right here on twin Cities New Stock eleven thirty and one oh three point five at the investment advisory services offered through Guardian Wealth Strategies LLC. Haven Financial Group and Guardian Wealth Strategies LLC are not affiliated companies. Investments involve risk,
and, unless otherwise stated, are not guaranteed. Please consult with a qualified financial advisor and or tax professional before implementing any strategy discussed you're in. Any comments regarding 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