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, And honest to goodness, they're real people. When you call, I'll explain to you why I think that's really important here coming up in just a minute. But it's good morning everybody, and thank you very much for listening. I am Bill Seller, along with the founder and CEO of Haven
Financial Group, Larry called Vig. Larry my friend. It's it's always good to be with you. Yeah, good morning, Bill, Good to be with you. Yeah. We just want to make sure that you know that right now, if you or something on the show, or you want to call for that complimentary retirement writing this review, those are actual people on the other end of the line. Trustee. In this world of AI that we're living in. It's just getting out of hand, man, it is.
It is to get a lie Firson's almost impossible. Yeah, it's crazy. But the good news for you is it's real folks working at Haven Financial Group this morning, so they will be glad to take your call and talk with you. Coming up on the show today, we're gonna talk about things like planning to pay for your dream retirement, how your Social Security benefits could be taxed, and if you've got five months to spare. Oh, let's talk about an amazing cruise. I just went on the cruise a couple of months
ago, and man, I'm hooked, Larry, I'm hooked. It's easy to get hooked. Yeah. Yeah. But before we get to all that stuff, the reason I mentioned the AI thing is because I saw a couple of stories this week to just blew my mind. We talked about this a little bit last week, right. Apparently, now Wendy's is tinkering with an AI order machine, so literally nobody will take your order, not a human at least. They're testing out an AI drive through. They're working with Google
to design a chat bot to function as the drive through speaker. So it'll take your order, it'll place the order into the computer, and then you know, I'm assuming a person will make it back at the kitchen. I don't know anymore, but yeah, they're testing that out. And then I read about the world's first barista robot serving espresso in New York City. It's called bot Bar. They're setting up shop at their first location in Brooklyn.
The robot can churn out about fifty espresso drinks an hour. I'm telling you, man, we are going to machine ourselves out of existence. Larry, did all this AI stuff just come out of nowhere? Because it's just feel like we're getting bombarded in just the last six months or less. Yeah, Well, unfortunately, I think it's one of those things that it's been in the works and then somebody perfected something right and now it's just taking off.
Now it's just taking off technology. It's always a double edged sword, my friend. And the way things are going, I think that we're going to be AI on ourselves out of existence pretty soon. But that's just me sounding old and I don't want to do that. So let's get to the show here and talk about folks and money and retirement and the things that affected in the ways that we can help protect some of that. And you know we're just talking about cruising. My wife and I have decided in our older years
here that we do want to travel more. You know, a lot of people decide that right, and that often tops the retirement to do list. Company called Fromer's has put together their list of vacation ideas and at the top of their list is visiting our national parks. And a great thing you remember after the age of sixty two is and I knew this before, you can
get a National Park Service lifetime Senior pass for only eighty bucks. You've got any park you want to for eighty dollars for the rest of your life. But the question here is, and I bring this up, Larry, to ask you, how important is it to work with you or your financial advisor to plan any big expenditures, like say, you want to go to these parts, but you want to do it because you're buying an RV to go along with that. Is that a good idea a bad idea? Right now?
And I know you've had people coming to the office and ask you this. Oh, it travels A big part of our discussions. There's no doubt about it. It's it's always up there on the two do list for retirees. But you know, first you need to work with somebody. You need to work with a financial professional. If you're not well, you're not even
having those discussions really with anybody. You know, we want to hear about the big budget items, not that you have to disclose and get into all the details necessarily, but you know, if there's big purchases like a vehicle in the next five years. You know, travel plans. You know, a lot of folks we sit with, you know they plan on one, two, three, four trips a year and we're going to buffer that into the build out of the plan. As far as income goes, we want
to factor those things in there. We always allow for X amount of dollars in certain plans X amount of dollars to go for those high ticket items because it's eventually going to happen. So as far as the travel goes, we hear some really really good trips that people take. National Parks is in one of them, and that is a for eighty bucks. That's that's a steal of a deal. You know, the Caribbean Blue Waters, Turks and Cacos, the White Sands, you know the velvet anyway it says, now you're
talking my lingo. But I know a lot of folks that have gone to Alaska. That's on my bucket list. We have not and the adventure and the wildlife and the mountains and the forests and you know the wild wild waterways they have there and great times. I hear they're Central Europe and the rivers. We have lots of riverboat cruise clients that you know. I have one clients from Egan. They've met on the Queen Mary and they travel and travel
and travel and everywhere they go they go through on the cruises. Now you notice that all this travel can get expensive. So that's why you really need to plan. We want to hear about it because we need to develop to develop an income plan that can support this. And then that gets into the tax situations TAXI, where do we draw off of do we stay within the twelve percent ordinary income tax bracket or will that push us into a higher tax
bracket. So, you know, really looking at it from a from the standpoint of what makes the most sense, what's the most tax efficient you want to travel? Well, hopefully you're starting to save early on in life because as all these things all cost money, so looking at all the options, it's a very important things as far as what we do. Yeah, you know, it's crazy because about this time last year is when my wife and I first started thinking about taking our cruise and we booked it early. We
booked in June for this past March. Okay, yeah, and I'm looking at cruises again and it's up like twenty percent just in a year, the cost of going on the same cruise, which I don't want to do, but just to compare it, you know, that's just amazing to me. The car. I mean, we all know the cost of everything is getting out of control. But but you're right, you have to plan for this now more so than in the past. And that's of the things that Larry
and his team can help you do at the Haven Financial Group. And that's why calling today, talking to a real person not a chatbot, is going to be beneficial for you. With that complimentary retirement readiness review, the folks at Haven Financial Group can you know, check everything out for you, make sure the plan you have in place is going to work for you, or if you don't have one, they can help you get one started and pointed in the right direction. So it seems like a no brainer to me.
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 at the Haven Financial Group, because I'm gonna be honest with your planning for retirement. There's a lot more too than you think. It can be very complicated, you know, Larry, we talk on the show a lot about diversification and one of the
ways to do that is investing in real estate. And a recent market Watch article got my attention because it was talking about some commercial real estate that could become obsolete. Do you have clients invested in office buildings, for example, or is this a good time to kind of reassess commercial investments. Well, you mentioned planning for retirement can be complicated. We try to simplify it to the best of our abilities, and we start with educating folks spending the time.
Just last week, I think of two different couples that said, you actually spent the time explaining some of this stuff that no one has done before, and it gives us a better feeling of what we're doing and why we're doing it. It doesn't have to be complicated, and it starts with that education. But we encourage folks to look at all the options that are on the table, you know, whether it'd be your liquid types of bank accounts to different types of stocks or funds. Real estate, yeah, absolutely.
I mean we have clients that are in rental properties. Now you mentioned commercial real estate. Yeah, there's a lot of people that are working remotely still and it's staggering the amount of office space in this study that's sixty to sixty of current office space will not be needed in the near future. And that's a lot of space. Now, with that said, I have my wife's side of the family which is in commercial real estate, and you know,
there's different trends. They don't seem to be overly concerned. It's just kind of trended now from you know, the office space. But you see some of these humongous Amazon or Costco, these big warehouses, so there's been a lot of trend in the big warehouse space. So they don't seem to be
over concerned. Just be aware, understand it, maintain that diversification, you know, make sure you're involved in a variety of different sectors that are out there and you know, sometimes this there's this idea with folks, well, you know, not all my eggs in one basket there. I'm gonna put some money with the red company and some with the green and some with the blue. And somehow they think that that's diversification. Yet if we look at
all three statements, they're in almost exactly the same type of things. So that's not diversification. Figuring out what that right recipe is for your portfolio, because you know, it's not one glove, it's all you know. I think a and from Lakeville just this past week, wonderful lady. She's done a great job and she's on the cusp of retirement. She had all of her four oh three b in two different holdings and she had no idea. Now it's it's bode well for her. But that's a recipe for a very
big problem had these funds not cooperated. So again that's a recipe you want to avoid. You know, we talked about travel. You know, I just read the study also that the idea that travel and its benefits to your relationship and your health and this is a good way to justify. But I thought this was interesting that you know, medical studies have found that there are benefits including you healthier hearts and brains, as well as reduced risks that can
reduce the depression and that type of thing. So you know, it's good. It's good to get out there and get a little travel. And if that's what you like to do, yeah, I think it's I think it's important, frankly, but I too. You know, we've all got to figure out something to do, and the best way to know how to do that is to understand where you are financially in retirement. And and that's what the folks that Haven Financial Group or four and that's why we get together every
week to talk about this stuff. Listen, we gotta take a quick break, but coming up, we're gonna talk about your taxes in retirement. Also, inflation may be cooling, but unfortunately it doesn't really feel like it. That and a bunch more coming up here on the Haven Financial Group Radio show on Twin Cities News Talk eleven thirty and one oh three point five FM.
Invest a little time to be sure your investments are working for you. Reach out to the Haven Financial Group now for your compliment or e no obligation retirement Readiness review. Our team is standing by now to take your call at six one two four four one two four four one. That's six one two four four one two four four one on Twin Cities News Talk eleven thirty and one oh three point five fm' at that morning up from Santull everything that I guy,
it's just what I've got. All Welcome back to the Haven Financial Group Radio show along with Haven Financial Groups Founder and CEO Larry calvig I and Bill Seller and then well I could just listen to that all morning, Larry George Straight Samarilla by morning, and you know we're talking about inflation and the price
of things and taxes and how all that affects us. Right. I read across this story that if you are in Texas and are an actual cowboy, or even if you just want to dress like one, you don't have to pay extra taxes on cowboy hats, boots, or belts. However, there's a six and a quarter percent sales tax on belt buckles. Turns out belt buckles are not considered a central clothing, but apparently cowboy hats and boots are. I don't know, man, if that belt doesn't buckle, things could
get embarrassing. I would find that to be essential. I don't know about you, but wow, Um, that's odd. I would think you tax the hat before you tax the buckle. But again, I'm not a cowboy, I don't live in Texas, and I'm sure the hat is the uniform. So you know, well, we often say the tax code doesn't always make sense. Well, you know what doesn't make sense? You are absolutely right, And that leads us right into our next story about and again not
breaking news here. You have taxes in retirement, can a lot of times be a shock to people, especially those on social Security? Um, Larry, We've talked about this before, but a lot of times people still just don't expect that kind of stuff to happen with their social security and taxes. Can you can you talk about that a little bit? How how does that happen? How do you help people understand it? Well, it starts with those classes again, Bill, and I want to just do two different things.
I want to distinguish here. If it's you know, you have taxes, and I'll touch on you know, how should security can be taxed? And then you have you know, turning out on so security and then you had the earnings limits. They're completely two different things, and they oftentimes get mixed up because your full retirement age, which is determined by your birth date. What's your full retirement age is at sixty five, sixty six, sixty
some odd months. Because if you're under full retirement age, there's an income limit and if you go over that, and for a single, that's twenty one, two hundred and forty dollars this year. If you go over that, they're withhold one dollar of benefits for every two If you're a married couple at full reterminent age, that goes up to fifty six thousand, and after that there is no income limits. So knowing those income limits, otherwise they'll
withhold and reduce them out. They're going to give you. This has nothing to do with taxes. This is a letter from the so Security Office saying we're withholding this because you made too much money. Now onto the tax the tax picks. God forbid that should happen. Yeah, no, kidding, people should make too much money. I'm sorry that the tax threshold. No,
it's comical, otherwise it gonna make you cry. So the reality for a single is they'll there's the provisional income formula where they'll take half of your individual Social Security plus any other income and I mean any other income from UNI bonds to anything. And if you're over as a single over twenty five thousand dollars, anything above that up to thirty four thousand, they'll tax at fifty
percent, tax your Social Security on the federal level at fifty percent. Anything over thirty four thousand, it'll be taxed at up to eighty five percent, So up to eighty five can be taxed. Now those changed as far as a married couple thirty two thousand and you get to the fifty percent, and then forty four thousand up to eighty five percent. So that's taxes on a
federal level. So understanding that, making sure you're making the right decisions on a weekly basis, we visit with many, many folks to help them make this decision. That that's the that's the big part of taxes. Now on the state level, of course, we're here in Minnesota. They're one of twelve states set taxes at the state level as well. And you know, I was just visiting with client of mine this past week. Um Ivan is a retired surgeon. He's been I guess he says, he's almost seventy nine
years old, but he doesn't look at hair past fifty. And he's been retired for years. And he moved back to Minnesota from Texas. And we had a long talk about taxes this past week and how so security was being taxed and how they do it so much differently in Texas. And it's a good reason why a lot of folks are thinking about moving to Texas, Arizona, in Tennessee, South Dakota. You know, was he wearing a belt buckle? I'm sorry, but taxes is a big topic, you know,
on a weekly basis. I say, we're we're getting into detailed talks about forward thinking tax planning because you worked hard for this money. Make sure you understand how your soil security is going to be taxed. Sometimes people just turn it on and they don't think it through and they're still working. Well, so security doesn't want you to be collecting while you're still working. So that's why they're going to tax you so much. So strategic, strategically, make
educated decisions that can benefit you, your spouse and your family. Yeah, and again you mentioned a minute ago when you first started talking about this, you said if you make over x amount of money, they're going to take a dollar for every two and that's for every two dollars over the limit, right, they're going to take a dollar back. That is correct, Yeah,
that is correct. Yeah, good lord, good disgrations. Well, you know the other thing is that you know, we've talked about the funding problems faced by Social Security and by Medicare, and you know, the solution seems to come down to basically two choices, right, cut benefits or raise taxes. So, you know, maybe a combination of the two. Who knows. But if somebody is planning on retiring and say ten years Larry around the time that funding could start to run short, should they be expecting taxes
to go up? I mean, this is going to impact the counts like four or one ks. And is that something you're talking to folks about now or you know, I hear a lot of people say the people of my age, my generation won't get affected as much by changes to Social Security as those behind me. Is this all part of the same conversation. It's you know, it's all part of the conversation that we have with folks on a weekly, daily, in a daily basis. You know, you can't change
the rules. The rules will change and you just have to adapt to them. So you plan accordingly under the rules today. In ten years, you know, what do I think taxes will be? Well, you know, we've had historically low tax rates. You know, pretty much taxes they have to go up to some degree or like you said, cut the benefits social security benefits, or raise and they're probably going to do a combination of both.
But with these recent years of low tax rates, it's why roth converts have been so popular, and that's why we've had conversations the last several years, and people have missed opportunities because they're not having these tax talks. You know, did you miss an opportunity to have zero capital gains tax on some
of those non qualified brokerage accounts? If you're not tax planning and doing income planning, you're probably missed it. And by twenty twenty five, those tax rules are supposed to revert back to what they were or even go higher. So does it make sense to draw down the IRA and wait on soul security? For some folks, that is the right strategy. How much income in your early years of retirement, and statistically people do retire earlier than they anticipate
for a variety of reasons. Where do you want to draw from what makes the most sense with the anticipation that ten years from now, taxes probably are not going to be any cheaper and could be considerably higher, depending up on who you're listening to. So the other thing to think of is also, you know, just have a discussion about are you mad axing out that four oh one K. I think it's probably our next conversation, so I'll let
you lean into it. But again knowing what accounts you should be contributing in how much you are contributing all these things that Larry's talking about, right, all these questions I don't have answers to them. If you do, good for you. But if you don't, that's another great reason to call have in financial group, because Larry and his team will sit down and talk with
you about all this stuff. The number again is six one two four four one two four four one six one two four four one twenty four forty one. And again all of these things that are coming down the pike at us right, I mean the laws that are going to go away in twenty five that are going to raise taxes automatically because things got pushed back, then they're going to jump back up unless you know, somebody steps in and extends them
or whatever. But the chance to raise taxes, I don't know if they're going to do that or not, Larry, but you know, we can't keep our fingers crossed for that. We've got a plan better for that. Yep, pay now or pay later. Yeah, we've got low taxes now. So hopefully people have been working with their tax prepare or their CPA,
which a lot of folks haven't been. You see all these things that I'm talking about and we're talking about when it relates to investments and taxes and stuff, that's should be part of the added value that you're getting with whomever you're paying. These aren't additional costs. Yes, Lance is our CPA, but there's no additional costs for all these tax discussions and tax planning and tax strategies. This is part of the discussions we have on an ongoing basis throughout the
whole year. It's not added costs, which it may sound like. So again, getting the attention you should be getting. Ask yourself are you getting it? Or as I mentioned, are you getting forty five minutes to an hour once a year. That is not enough for retirement. If you're looking to build a relationship with the folks who are handling your money, call Haven Financial Group and six one two four four one two four four one six one two four four one twenty four forty one Coming up here, we're going to
talk about paying the price for inflation beyond what we're obviously paying. Experts say that a senior healthcare crisis is looming as well, so we've you know, got that to look forward to. If we're going to talk about what you can do about that right now, and how to check world travel off your bucket list in one trip. That more on the way with the Haven Financial Group Radio Show here on twin Cities New Stock eleven thirty and one h three
point five FM. Investing the state planning taxes and more. Want your complimentary retirement readiness review, call now at six one two four four one two four four one. That's six one two four four one two four four one, or connect with us at Haven Financial Group dot com. This is the Haven Financial Group Radio Show. Welcome back to the Haven Financial Group Radio Show.
I'm Bill Seller along with Larry Colby, founder and CEO of the Haven Financial Group, And that's the theme song, the theme music from the movie Beetle Juice. I was a huge fan of that movie. I just love Michael Keaton and Man. Good news for Beatle Juice fans. It's only taken thirty six years, but there's going to be a sequel. How about that? Huh? Thirty six years later, both Michael Keaton and Winona Ryder are going to return for Beetlejuice Too. The original movie was just a huge success,
inspired cartoons. They made a Broadway musical out of it. Beetlejuice Too is expected to hit theaters in the fall of twenty twenty four. So I'm really looking forward to that because I love that movie. I thought it was fantastic, so I don't even think I even saw it. Oh well, then just go see the sequel. I'm sure it'll be fine. He can do that. So before the break, we're talking about inflation, because what else
is there right now? Right we're seeing signs of inflation kind of calming down, But our financial correspondent Drew Nelson tells us that that doesn't necessarily mean that we're going to be paying less the price of stuff isn't really going down so much as it is just leveling off. If you own a vehicle, inflation isn't quite in the rear view just yet. You are getting a little relief at the pump, but CNN reports it's being offset by higher insurance, maintenance,
and repair costs. At the grocery store, Baked goods are up thanks to the higher cost of flour, eggs, and margarine, but overall your receipt should actually ring up slightly less. Dairy, fruit and vegetables are all down. You know, it's funny he mentioned cor insurance, right. I just was talking to a friend of mine who called his agent the other day because he was upset about how high his car insurance are. Gone. Guy has a clean record, right, no accidents, you know what they told
him. I thought this was interesting. TikTok has videos out there. There were showing people how to steal certain models of cars, including hun Days and I forgot the other one. But they're two very popular brands, and because of that, the insurance companies are saying the chance of theft is even higher, so we're raising rates. I mean, see the things that we don't even think about that that can affect money. I mean that that just blew
me away when he told me that story. And you know, when it comes to inflation and all of this stuff, are are we in a period maybe of disinflation? Larity, do you think things are coming down? Well, I think we are in disinflation. It's under way, but we're actually paying more in a lot of regards, just because in previous months, you know, which means the annualized rate of inflation is coming down, but cost
for us as consumers is still going up. You know, what was at the four point nine percent inflation rate in April was the lowest in nearly two years. But again there's other things that cost more. Energy costs, I mean energy costs. I've been hit with one of the biggest increases in the last two years. So you know, as much as I like to be optimistic, you know, we're maybe seeing a little bit of help, but not much. And you know, at the end of the day, will
we ever see prices back to where they're at? I mean, I think in this article said something about if inflation rate dropped to zero percent, which the target is too and it may take us a while to get there. We'd all celebrate because but we'd still be paying fourteen percent more than two years ago. So basically, inflations are really locked in and it's hit in our pocketbooks. Well, like we talk about all the time, people are still
going out and dining out, They're still traveling. Right. We had the story last week about the guy from Wyndham Hotels saying that they are having an uptick in reservations. So as long as there is demand, why would the prices come back down a good point. It's hard to explain any of this because even my wife and I were so uh this past week. We went to a restaurant a couple of times and we could hardly get in either time. So I don't know. It just doesn't make sense where people are finding
all their money, and maybe they're doing something that we're not doing. But I do see almost on a weekly basis that consumer credit card dead is skyrocketing higher and higher. Eventually this can catch up, and you know, I think of the folks too, and it's not our you know what we're talking about. But I had a real estate conversation with somebody who thinks that,
you know, we could see a lot more foreclosures. I hate to say that, but it's quite possible because a lot of people can't continue the spending the way things are. Yeah, yeah, somebody's going to have to give, right, it will, and that's that's an unfortunate situation. Should that Should that happen for anybody in any case? So, right, and you know, um, what the Fed's been doing to try to help with this is rate hikes, right, And so the question then is have the federal
reserves rate hikes worked? And think because of inflation seemingly flattening out a little bit, are they going to be are they going to stop? Are they going to pause those? Reuters is reporting that the FED Governor Michelle Bowman says she believes there will likely be more hikes and that they might hold onto a higher rate for a while. So how could that change our financial outlook for
the rest of the year. Are there any changes we might want to consider knowing that news, Larry, Well, you should if you have a plan, you've you've stuck to the plan, you haven't deviated from it. And so awareness and understanding is important. You know, as far as the rate hikes, you know, should inflation remain high and the labor market remains tight,
additional monetary policy tightening will likely be appropriate. I hate to say it because they were talking about not you know, but we're trying to get to the inflation rate down to two and you know, it's going to depend on certain indicators. And since the last quarter hike, which we just had a couple of weeks ago, you know, there's been some economic data that has been very mixed. With the Labor Department report that came out last week,
you know, US employers adding a quarter million jobs just last month. Unemployment rate adds down to I think it was like three and a half percent. However, consumer prices rose that four point nine in April. It's way higher than the two percent targets. So all of this inconsistent data, all of this leads to a good possibility that there might be some work quarter rate hikes, which can affect, as we've talked about before, savings accounts maybe getting
a little bit better interest. I hope folks are looking at that. But then it also can affect the credit cards and the consumer debt and some of the loans that are out there. So make sure you understand what you have and the effects of these rate hikes, and if you start seeing all that interest that you're paying out, that's wasted money. Yeah. On top of all that, concerns about d dollarization just don't seem to be going away.
Right. A lot of countries like China and Russia and other countries want to move away from US US dollars for international trade. As a matter of fact, Warren Buffett took a question on the subject that at the Berkshire Hathaway shareholder meeting just the other day, are we likely to face the time in the future when the US dollar is no longer the global reserve currency? It's very interesting. I mean, we are the reserve currency, and I see no
option for any other currency to be the reserve currency. So he doesn't seem to be worried about it. Do you do you agree that there is no other option? Well, when Warren Buffett speaks, I tend to listen carefully, and there's so much news out there, the news and negativity and you know, radical left and right theories, and you know, the internet just
just spreads this all over the place. And a lot of times retirees have a little more time on their hands, sometimes not always, and sometimes they're on the internet too much, and we'll get calls like, oh I saw this, what do you think about this? And I'm like, where are you reading this stuff? Okay, sometimes it's just it's too much negativity and too much stuff. Now, you can be aware of it, but you know, stick to your plan. Warren Buffett doesn't seem to be concerned.
I don't follow this that closely. The dollars still strong, you know, dollars are still used to settle, you know, international transactions. And yeah, I understand countries like Russia, China, Iran, Venezuela. You know, there's kind of a common denominator with these countries. You know, they really don't like us and we're feuding with them. So is it really surprising that they would be trying to get away from the US dollars? No,
not really. So just be careful what you continue spreading through your mind. Be aware of it. But again I don't tend to worry about it, because you know, I always try to live by faith, not fear. And at the end of the day, you just do your best to be responsible for you, your spouse, if you're married, your family and your kids. And again, stick to it. Have a plan. If you don't, now's the time to start one. It's never too late. And
you started by making that phone call. We keep talking about six one two four four one two four four one six one two four four one twenty four forty one. Real people standing by to talk to you right now to get you set up for your appointment for that complimentary retirement readiness review where the folks that Haven Financial Group can take a look at your retirement plan and make sure that it's really doing the best that it can for you in retirement. Six
one two four four one twenty four forty one is the number. And coming up here, we're gonna take a quick breaking on the way the over sixty five population is growing, what that could mean for your retirement and waiting for the day that you can take that dream vacation. How about Jandrumry eighteenth of next year. I'm gonna help you Pennsylvania. We'll talk about that as well.
Coming up on the Haven Financial Group Radio Show on Twin Cities News Talk eleven thirty and one h three point five f It's just the clean Welcome back to the Haven Financial Group Radio Show. It is a beautiful morning along with Haven Financial Groups founder and CEO Larry calvig I and Bill Seller, and I
appreciate you all being up and listening this morning. And I was just reading this article and I'm I don't exactly you know where it came from, Larry, but it says that if you are a morning person, you can actually buy things cheaper a lot of times in the morning. I didn't know this. Gasoline. Gasoline apparently cheaper if you buy it before dawn. Prematinee movie tickets also often less than that. At other times. Airline tickets if you
buy them before noon sometimes can be cheaper. This comes out of a reader's Digest article. Actually, haircuts are cheaper if you book before noon. I can't get my guy to show up before noon to give me a haircuts, so that's why it's cheaper. He's not there. But that's just I found that kind of interesting. So that is interesting. Yeah. You know what else I find to be a lot cheaper is getting up in the morning just having my coffee and not buying anything. I say, I'd say a lot
of money that way, right, I like that a lot better. Oh man, So here's something to think about. According to the Census Bureau or we are just ten years away from having more adults over the age of sixty five than kids under the age of eighteen, and aging population could really strain our healthcare system, no big secret. There. Also, the cost for long term healthcare is almost certainly going to go up because of those numbers, Larry, I know this is also one of those things that you sit down
and talk to folks about and help them plan for as well. This is all part of a process, the proprietary process of the discovery meeting and asking tons of questions, and healthcare is going to be one of those discussions. Where do you currently have healthcare? You know it does? Do you have any long term air? Do certain things run in the family like Parkinson's,
Alzheimer's, dementia? Have you explored all the options? You know? I read statistically seventy percent of us are going to need some sort of care, some sort of care, nursing, own care, in home care, something of that nature, and oftentimes that's not cheap, and so what is the plan? You know? I was with a lady last week, Gwen from Savage. She really doesn't have any family, any family at all, so she goes if something happens to me. I have to have some sort of
plan because who's going to take care of me? And you know that's a valid point. You know, have you explored all the options? You know, people are familiar with the traditional long term care policies that they may have had or they looked at years ago and they were so expensive nobody in the right mind could afford him. Or but what have you checked out newer type
of models like asset based long term care or hybrid long term care? And if you don't recognize these terms, that tells me that you probably we haven't And you know, if you plan accordingly, because in the early years of retirement, if I could quote Tom Hagner, a speaker that is from Minnesota,
Morris actually great speaker resides in Arizona. But the go go years of the early years of retirement, the slogo years we're not going to do everything, and then the no go years where that recliner just looks really comfortable, and the different costs associated with each season of those retirement years. You know, healthcare can be a very not can be It is a very big expense, one of the biggest expenses in retirement and plan accordingly, because these are
going up astronomically. What did I read that home healthcare spending will increase eighty three percent or it has from twenty eighteen out to twenty twenty seven eighty three percent. And you know what, there's a shortage of nurses out there. My brother in law has one of the big medical staffing companies. He can't get people fast enough. So again, costs or I'm gonna go down, they're going to continue to go up. And it's a major major concern.
So plan accordingly comes down to that over and over again. Yeah, and the word plan shows up in this show a lot for a reason, folks. You've got to have a plan. And you know, the other thing I noticed, too, is the more and more of the adult communities are popping up, right, not just the adult living communities, but then also the assisted living kind of places right where you start out living in a house, and then as you get a little older and you need more help,
you move into an apartment and then into eventually fully assisted living. And those places are not cheap, no, I mean, that'sus expensive as anything. My grandmother lived in one of those in Florida, and this was back in the eighties and it was expensive. Yeah, and what did I see that in the cities here? Depending up on where you're at, you're looking at
twelve to fifteen thousand dollars a month for full on nursing home care. It doesn't take long to decimate in a state or all your hard earned dollars in your years at ten to fifteen thousand dollars a month. So even some coverage might be better than no coverage. You know, It's why we teach classes on this as well. And again, Glenn is our major long term care and our medicare person. You know, it starts with education. Do you
have the assets? Could you heade some of those assets to get some coverage for nursing home if you needed it? And then what if you didn't, what if it stayed with the estate. See, there's much different things that are out there, and if you haven't explored it in recent years, you might be surprised and it might fit you better than you think it is. Okay, Okay, see another reason to call the folks at Haven Financial Group right six one, two, four, four one twenty four forty one.
So many things to think about in retirement. It's not just work, work, work, work, work, work, put all that money away, and then it's there and I get to go use it when I get to retirement. And there's just a lot of stuff going on to make sure that it works for you once you get there. And that's what the folks that Haven Financial Group can help you accomplish, a great plan to make sure the money you have worked hard to put away is going to now be there to
work for you when you need it. Six one, two, four, four one, twenty forty one is the number. And you know, Larry, you mentioned those classes. Folks can find out about those on your website right at Haven Financial Group dot com. Yeah. Absolutely, we have three or four classes just this past week and almost all of them we're getting close
to capacity. So people want to learn. And again there's ten thousand Americans turning sixty five every day, a lot of them getting close or near or in retirement, and when in doubt ask questions, education is a good way to start. Yeah, and that blows my mind that in ten years we're going to have more people over sixty five than under eighteen. I mean, that's just whoever thought that would have happened. So on a little bit of
a lighter note. We started out talking about traveling, right, about vacations, about possibly buying an RV and seeing national parks, right, and you mentioned you and your Chelle have Alaska on your bucket list. And I think all those things are wonderful things to do. But I thought we'd wrap it up with talking about another vacation. How about this. You're going to have seven months to get ready for it, okay, but it might very well
be worth it. Crystal, which is a luxury cruise line, is going to be offering a new one hundred forty one night cruise that is going to criss cross the globe, all right, and I think it takes off in January. Yet, January eighteenth of twenty twenty four is when you set sail for one hundred and forty one days. Larry, the cost of this thing is incredible, sixty eight eight hundred dollars a person. But that does include all those stops and all those meals, food drinks, all that kind of
stuff. Now, I know you told me. I love the story you tell about a lady you have as a client who decided to uh, she was married, right, but then decided to take a cruise on our own anyway, just to just to go decompress. Yeah. She was forty years as an upper executive for a big company or in the Twin Cities. It was a couple a few years ago, and I visited with her. We visited with her quite a few times, and she was retiring. So I
congratulator, congratulator retired. When are you leaving? Oh here, probably in the next week, in the next week or so. Well, that's gonna be really exciting for you and your husband to go. Oh no, no, no, she goes, I'm going on this, oh, by myself, try to find myself. Forty some years as an executive is a long time, so I'm just going by myself. And he was fine with it. Was it a long cruise like this one? Do you remember? Or was it like six months? Wow? Six months? Wow? Yeah,
that's something. I mean, this is quite the cruise all really. You leave out of Miami and that's the easy part. Then you go through the Panama Canal, over to French Polynesia, Australia, New Zealand, across the Indian Ocean to the Eastern Mediterranean, Wow, Italy, France, all these places, and then back to Miami. Finally, one hundred and forty one days later, Guess will have the option of starting and ending the trip in San Diego as well, because that's also a stop on the cruise. It's
going to visit seventy points and thirty five countries. Well, yeah, that's a trip. That's a lot of travel, and that's a lot of work right there, my friend. Yes, Now, can you imagine you and all the girls and Rochelle taking this kind of trip to what was the biggest trip you guys ever took together when they were younger and you thought to yourself, Oh, this is like too much time in the car. Did that
ever happen? Well, we never took trips when they were younger because I, as the father, would resist going on them because they were too young. They're too young, they're too young. When finally, probably eight years ago, finally we started family vacations and we cherished the vacasions and we just it's the greatest family time. It's the only time I actually relax, and my wife will attest to that. But we like water, we like the
Caribbean, we like the sun. Turks and Caicos was amazing. There's many things on our bucket list, but anywhere where we can spend time as a family in the sunshine, in some warmth, especially being from Minnesota my whole life, So sign me up for it. I'm there. So you never did the you know, family vacation Wally world trip in the station wagon for fifteen hours. No, no, no, that would not serve our family. Well, that's a great way to put that. It's a great way
to put that. We'll listen. On that note, Before you or I get into more trouble, I would say thanks again for your time. Man, it goes by so fast. But once again, if anything you've heard on the show today has raised questions, or if you just want to get your retirement plan looked at, please call the folks at Haven Financial Group six one two four four one two four four one. We're not kidding. Their
people there right now waiting to answer your call. Six one two four four one twenty four forty one till next week, Larry, my friend, stay well, have a great week, and thank you for listening to the Haven Financial Group Radio show on Twin Cities News Talk eleven thirty and one h three point five. Yes, Yes, the CD by Owning Rang investment advisory services offered through Guardian Wealth Strategies LLC. Even Financial Group and Guardian Wealth Strategies LLC
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