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 you know, I know I say it every week, but folks ask, are there really people up at that our innswer on the phone and the answers, yes, yes it is. And we appreciate you being
with us this morning. And I'm Bill Seller along with Haven Financial Groups founder and CEO Larry Calvig and Larry, you got folks working on a Sunday morning. I love that about you, guys, Yes we do. Yes, Good morning, Bill, good morning, good morning on pleasure to be with
you. It's just just shipping on my first cup of coffee today, So we appreciate you as you have yours and join us this morning and every week we get together just like, just like we said to talk about retirement, to talk about the best ways to hang onto the money that you say for retirement, because that's getting tougher in these times, right and all these things that affect our money in retirement right now though we can't control, is the
reason we get together to kind of talk about how important it is to have a plan, to have your plan in place, and you know to that extent what the folks that have in financial group can do to help you with
your plan. That's why they offer a complimentary retirement rating. This review your chance to go in, have you your plan looked at, looked over, and walk out feeling great because they tell you everything is in place, or or walk out feeling and relieve because they found some things that needed to be fixed and we're able to help you. So that's why we give out the phone number for you to call six one two four four one two four four
one as we get the morning started. I wanted you to have that right away to understand why we're here this week and every week. Frankly, a lot of stuff coming up to talk about. Today. We have a new definition of wealth according to kipling Er. We'll talk about that also what Americans really think about the fight against inflation and investing in one of America's landmarks. Something to think about. What we'll we'll talk with Larry about that coming up
in just a little bit. You know, Larry, I have talked forever about how upset I am with the Jetsins because they lie to us. Man, we don't have flying cars yet right yet yet. We've talked about that before, but apparently we're getting closer. Yeah, your flying car could touch down pretty soon. Boeing just bought Whisk, which is a they're calling it a self driving air taxi startup, but technically it's a drone, not a
car. There's no pilot, but the prototype is battery powered, has landing skids like a helicopter, and four vertical propellers that allow it to take off and land vertically for short flights, and they're hoping to apply that to it actually becoming a vehicle that you can travel in. What do you think about that? We're almost We're almost, like George Jetson, we're getting close, Bill, Yeah, we're getting close, and you know, I'll believe it
when I see it. But speaking of believing things, it is hard to believe, but there is over one point three five trillion with a t trillion dollars and forgotten retirement accounts. You know, people leave their jobs and abandon their four oh one ks. I get that. You move on and you kind of forget about it sometimes, and we've talked about it before. You've had folks come in and they didn't even know where their four oh one ks were, right Larry, Oh, we see it more often than you think.
It's surprising because it's harder in money, but it's kind of out of sight, out of mind. You move on. You know a lot of times we see consultants bounce around and they have We had somebody last week that had five orphan four oh one ks that they no longer were contributing to.
So you know, this is important because that's a lot of money. That's a lot of money one point three five trillion, as you mentioned, and and a lot of times what people don't know is these old four one k's, if left where they're at, they can contain, they can have higher fees. Oftentimes if you're no longer working, they can charge more for you keeping your money there, So be aware of that. And oftentimes if you know, the balance on that four owe K is under a thousand bucks.
They might have mailed a check to your former address when you didn't even know it. So be aware of these things. And you know, oftentimes, you know, you can do some research to find out where if there's any of those out there, if that you're unaware of. And number one, you can contact your former employer and ask. And there's also search engines or sites that are out there, or databases like we'll just give you an example,
the US Department of Abandoned Retirement Plans. You can research there, or the National Registry of Unclaimed Retirement Benefits and others as well to see if there's any of those out there. And you know, we do a lot of four O one K rollovers old four owin ks, which you're no longer there anymore or in service fifty nine and a half rollovers. Okay, so you don't have to do anything, but you have limited investment options in those four
o winks. So look at all the options. Explore all the investment options. You know, there's a reason why the federal government says, hey, you're fifty nine and a half, you may want to explore other options. Even though you're still contributing and still working. And you know, we got to just think of a couple from Egan no names, because it's hilarious. Two different times in the last year they have called me and they go,
Larry, we found some more money under a rock. It was two old four owen ks and joking aside, this was a substantial amount of money. Two times the same couple has phone money which were two four owen case. So be aware of these things you work for it, you might as well, you know, consolidate and simplify. There's something to say about that. Yeah, you know, you would think do you know these folks better than
I do? Because they're your clients. But if it were me and I found one, I'd probably go back and double check the rest of them just to see where they want for sure, all at one time. Now, not to put you on the spot or anything, but is this something you help people do? Do you help them find old accounts? Is that something you guys offer or is it up to folks to kind of know where their
stuff is. We will assist if somebody asks us too. And then sometimes people get these Social Security type of statements saying they have these old four owin ks or retirement accounts with a specific company. Oftentimes it isn't valid, it's just some sort of computer generated thing. But yeah, we help absolutely, But again doing it yourself is also effective if you go to those search engines
that I mentioned. A pension as well, if you have a pension that you don't know, you can check with the PBGC, which is the Pension Benefit Guarantee Corp, and see if there's any unclaimed pensions that you have out there as well. Yeah, I'm often curious how many folks get this statement right from Social Security going does this might account? Wait? Wait wait, I even know where this is. So it's a good idea to track that stuff down to make sure you're getting all your money. Why not exactly?
And you know, the other thing that we worry about in retirement a lot is saving on taxes. You know, taxes are a big factor in retirement that a lot of us don't really think about when we're saving that money. Is it possible to save on future taxes now? While according to CNBC, we are in a window of low taxes for retirement planning withdrawals right now, right, Larry, So how is it that we can use that to save on lifetime taxes. Well, it's what why we call it forward thinking tax
planning. You know, just this past week ahead a gentleman in from Lakeman Atanka who said, you know, my guy, it has done a great job at accumulating, but we have no tax plan and they do investing for accumulation. But all of the other things that we you and I talk about
on a weekly basis, efficiency tax efficiency, tax planning. You know, there's a good reason why roth conversions have been so popular because taxes have been historically low, and these tax laws are going to sunset in two twenty five and change going into two twenty six. So you know, time is of the essence. You know, when you retire, you're gonna need to come up with some income plan, which relates to distributions, which then relates to
taxes. They're all interrelated, they're all connected. You know, I say the coordination, Well, guess what you want to pay as lower taxes as possible. So maybe in those early years of retirement when income is lower, we draw on the irase and delay so security or maybe some of those non qualified brokerage accounts. Maybe your income is low and there might be no capital
gains on that. So you know, Lances our CPA, and we're having these tax discussions really all year long, and you're gonna pay now or pay later? What do you think taxes are going to be ten years from now? I wish I was more optimistic. Okay, So again, making sure you don't leave anything on the table. And if you're just getting your taxes prepared and not tax planning, I really think you're missing opportunities. And I say that because I see it almost weakly. I call them unforced errors.
Well, nobody told me, nobody educated me. I didn't know. There was a lack of attention, and a lot of people aren't getting the attention they need when it comes to taxes and they're missing the point. They really are. Yeah, and it's really funny when you're putting your money away for retirement, right, I mean, taxes are in the back of your head, but I don't think it's something we think about consciously. I would agree.
And if nobody's pressing these questions, then you know you're not thinking about taxes. So how are you going to be aware of these things that you can do? And you know, some people work with folks for a long period of time. That's fine, But sometimes people get on easy street and they're not really doing the education. They're just doing what they always did well.
Taxes change, times change, the investments change, and we get older in meantimes, and when you get closer in retirement, you factor in social Security, you factor in required minimum distributions and all of these other things. It can become more complicated. And I certainly am not against doing yourself taxes, but when you get closer and get to those retirement years, you know what, make sure you're working with somebody that's giving you the advice as it
relates to your situation. Right. And I'm a big believer in the how's that working out for your theory? Right? If you're still doing things the way you used to but not happy with results, you might want to look at exactly how you're doing things. So that's what Larry and his team are there for at Haven Financial Group. That's why calling today at six one two four four one two four four one could be one of the smartest things you
do. Set up that appointment, go on in, sit down with this team at Haven Financial Group and let them take a look at your plan. It's a complimentary hirement readiness review, and the calendar does fill up quickly after these shows, so I suggest you call as soon as you can six one two four four one two four four one. I'm gonna take a quick break,
but coming up how some are redefining wealth. Also, we're gonna have some tips on skirting what's called the retirement hazard zone and his retirement planning different for men versus women. Remember we're gonna talk to Larry about that as well. This is the Haven Financial Group Radio Show on Twin Cities Newstalk eleven thirty and one oh three point five FM. I need dollar dollar doll doll doll doll 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 am Bill Seller along with Haven Financial Group's founder and CEO, Larry Calvig. And you know, here's a big surprise, Larry, We're getting older, you know, not just you and me, but the entire country, and the
median age now is almost thirty nine years old. It's up from thirty five years old just in two thousand. In twenty years, it's gone up almost gosh, four years, five years. And since nineteen twenty, the number of adults over sixty five has grown about five times faster than the whole population
in general. So that group of folks over sixty five now represents about seventeen percent of the total American population, which, of course that ads to concerns about the public health needs of an aging population, right And of course, without your health, what good is your wealth? Right? Well, according to Kiplinger, having wealth no longer equates to having money just by itself.
They say there are at least half a dozen factors that contribute to a rich life, things like energy, time, health, relationships, life experiences. They're all kind of running even now with material wealth. Do you encourage your clients to share, you know, exactly what they want to experience a retirement,
as well as how they want to handle their money. Absolutely, you know it's important for us as we you know, go through to our proprietary process of discovering who they are what's important, what they're doing, what they want to do in retirement. So we need to know these things to build
out the plans. And you know, wealth, you know with you wealth usually traditionally means it's equated with possessions or money, but there's certainly a paradigm shift, and I agree with you per the study that people are rethinking what they value and how we define wealth. You know, as far as beyond just material possessions, it's you know, valuing experiences over material possessions, embracing the idea that material possessions are more temporary, but experiences that deliver joy and
timeless memories are more important. So you know, I do see this. Now, it still takes money, so don't leave out the plan as far as how your money lasts, it's crazy here, let's not go over the board. But again, the experiences are become very much important. And I see that, you know, the social and personal relationships, being able to do things that you've always wanted to do and not been able to do it, to do to work. And again, wealth means different things to different
people. And I never assume it's it's about well, they had tons of money, so they're wealthy because you know, there's so much more that goes into you know, wealth, I mean, is it health, is a good relationship, a good marriage, the kids, you know, all those things are important. Yeah, you know, the older I get, the more I really believe in that myself. Just spending time with family, right, I've got four grandkids now, and the times that we can all get
together, it's the best part of my week, frankly. And as far as the material things go, I think I told you my wife retired about a year and a half ago, and which has led to nothing but more work for me around the house. Larry, of course, but that's another talk. That's another topic for another beer some other times. But now she's into this decluttering thing, right, She's watching all these influences on YouTube on how to declutter, and just it's kind of like an old cartoon of bugs
Bunny looking for something in a box. Right, She's just tossing stuff over her shoulder, just just saying, we don't need this anymore, we don't need this. So the material things, you know, are going because it isn't you know, life has changed, things are different now, So you know, I agree exactly with what the survey is saying, because I'm frankly, I'm living in myself, my friend, and what I find in the transition when folks do retire, and lately it seems like we've had all kind
of a whole bunch of people of clients retiring. You know, it's it takes time to figure out what that balance is because all those years you went to work and went through the routine, and now your routine is different, and you try to develop a new routine. You know, do I go and walks so I you know, do I go to the club and wellness and health? You know? It takes time to figure it out, and some people have a difficult time at that and some people don't. So just
know that that's normal. It's a transition to learning, you know, is volunteering at the hospital or at the church. You know, it's it is a transition and it takes time. Yeah, it does. And again, I lived at myself when my wife first retired, she was happy as anything. Man just didn't have to get up and go to work for the first time in her life, right, And I didn't have to put on the
makeup and fight the traffic and all that stuff that you do. And then about six seven months in she kind of looked around and go, oh, now what you know? Right? So I understand exactly what you're saying. And you know, we do get to other every week to talk about retirement, not just your money, but exactly what Larry's talking about as well. Right, how to handle retirement suddenly because it can be a different lifestyle,
but as far as the money goes. That complimentary retirement readiness review from Haven Financial Group is really worth the time for you to go into the office, sit down and make sure that your retirement plan is an actual retirement plan if you've kind of built one on your own, getting the eyes of these folks that are experts, and the estate part of it, the taxes part of it, you know, just just the investing part of it, all that
stuff that the team that Larry has put together at Haven Financial Group. That's why you want to make that call at six one two four four one two four four one again six one two four four one twenty four forty one. That's how you reach out for your complimentary retirement readiness review at Haven Financial Group, or you can find out more online at Haven Financial Group dot com. You know, speaking of our money and retirement and things that are affecting it.
Inflation, of course, is one of the biggest things right now, and a lot of us are not that convinced that inflation is under control area. In fact, according to a monthly consumer sentiment study, seventy eight percent of Americans think that inflation is still on the increase, especially over this summer. The study also found that about sixty eight percent of people say the US
economy is actually going to get worse. Now, I know you're an optimistic guy, but but how much do you think consumer confidence actually actually impacts the economy. Well, I think it impacts it a lot, because it affects our spending habits, it affects our travel, it affects everything. You know, at the end of the day, you know, you can only control
which you can control, and that's why it's important to know. You know who you are and what's important to you, and you know, as far as your money's and your investments in your portfolio, you know, stress test your portfolio, find out where your emotions start to go overboard or the psychology of Oh my goodness, markets way down, I'm going to jump off the cliff and you know, what's the right balance for you individually or as a
couple and as a family. You know, we discussed you know, do you have good liquidity, are you well positioned for when the market's down so you don't have to draw off the risk investments? Or do you have all your money at risk? Or do you not know? If you don't know what percentage would make you comfortable? And then the middle callum, you know, what type of investments do you have? Were the principles protected? So you know, it comes down to willingness for risk, the need for risk,
and the ability to take risk. And I think of you know, John and Mary were just in this past week and he's a retired electrician and she's a retired teacher and they go, wow, there are big questions do we have enough money to retire and how long will my money last? And as we went through our process, they were very well positioned. And I said, are you willing to take risk? And they go no, but do we need to? The projection said no, and he goes, well,
then why are we taking so? Why do we lose so much? He didn't. He didn't realize the position that he was in. So, you know, It comes down to awareness and understanding, having the right ingredients in your portfolio, and discussing this on a regular basis, because as we get older, most people tend to become a little bit more investment conservative. You don't have to be, but think, you know, think short term
and think long term. You know, at the end of the day, I'm hoping that this, you know, the consumer confidence hopefully by fourth quarter, and you're right, I am an optimist, that things start to settle down a little bit. But again, it's just understanding where you're at, what you're doing, and having somebody to hold your hand and guide you through this so you don't get fearful and emotional and all of a sudden now you
make a knee jerk reaction. Yeah, and everything you're talking about just makes so much sense to have other people look at your plan, right, I mean, this is exactly what I'm saying. You may be thinking you're rolling along and you could wind up like John and his wife, who go, well, wait a minute, we didn't know we were doing that. So, you know, having another set of eyes from folks who really understand how all these puzzle pieces do fit together seems like a no brainer to me.
I mean calling six one two four four one two four four one again could be the smartest call you make today to the folks that at Haveing Financial Group and Larry, I imagine you get a lot of folks who come in and are kind of surprised to find out what is real versus what they thought. Oh, I see it all the time. Yeah, just because they haven't they haven't got the attention. They maybe look at it forty five minutes to an hour every year and nobody's really they get the same old story. Just
hang in there, be long term, You're fine, don't worry. Well, people need a little bit more more to it than that. They don't need to be the expert. But let's face it. You know these times, you know people are still worried about rising prices. If you're getting close to retirement, most people are on a fixed income, you know these are concerning. And in this the study I saw that home prices rose in March due to a limited supply. Food prices were eight and a half more percent
more expensive in March than they were a year ago. So costs are still Make sure your budgets in order and make sure you're doing the projections and making modifications as you need. And if you're not getting the attention, most people aren't doing it and they just have no idea. We're going to take a quick break and on the way we're going to tell you to approach with caution, how to avoid the retirement hazard soon and you know women do live longer
on average, should they plan differently for retirement? There that and more coming up on the Haven Financial Group Radio Show on twin Cities New Stock eleven thirty and one h three point five FM. This is the Haven Financial Group Radio Show. The team at Haven Financial Group is here to offer you clear financial guidance. Have a question for the team. We have team members waiting to talk with you off the air at six one two four four one two four
four one. Welcome back to the Haven Financial Group Radio Show with Haven Financial Groups Founder and CEO Larry calvig I and Bill Seller. And I thought this was kind of cool there. I don't know if you saw this story, but scientists have outlined a way to generate clean electricity literally out of thin air.
They're using air humidity as a power source. The premise is similar to the way lightning happens droplets of water apparently contain an electrical charge which forms lightning bolts in the cloud in the sky, and the researchers have come up with a way to create their own clouds that predictably and continuously produce electricity. How cool is that we literally make an electricity out of thin air And apparently it's unlike wind or solar power, it actually generates power twenty four seven. That
would be amazing. Anyway, I thought that was kind of interesting, so I thought i'd bring that up this morning. Yeah, very good, Bill. You know, we were just talking about inflation and interest rates and all that stuff. And the next meeting of the Federal Reserve is just days away, and the question is will the FED decide to hike interest rates or take
a pause. Well, our financial correspondent Drew Nelson has more Fed Governor Philip Jefferson is signaling that he'll be voting no, at least for this month. Skipping a rate hike at a coming meeting would allow the committee to see more data before making decisions about the extent of a dish new policy. Firming that won't be enough to persuade the chief global economist at City Group Nathan Sheets was
on Squawkbox. We expect that the Fed's very likely to hike twenty five basis points at this coming meeting, and what it's worth, we see at another twenty five basis point hike on down the road, and that the Fed funds right will ultimately peak in the mid fives. What do you think? That's a good question, right, Larry, And I think I ask you this almost every week, and I guess we won't know until we know. But what seems likely to you, Well, I think a quarter hike is probably
going to happen. Inflation is not under control yet obviously, and I think the Fed funds rate will probably peak somewhere about five and a half or so. I do agree with him. You know, a Wall Street expects the Federal Reserve to raise interest rates in June as well. In addition to there's some key economic data that's going to come out in the expected week. Actually
that came out last week, I should say. You know, one is GDP gross to Domestic Product, which is the broadest measure of economic output. You know, it rose at an annual rate of one point three percent, So the economy is it's not really slowing down, the personal consumption expendure, sure's index, the price index increased. This is key economic data that will
determine, you know, what rate hikes will happen. I do think they probably will happen here next month or this month, and probably even next month. It's just a long, long path to try to get it under control. And then the economic data also talks about you know, the recent calm in the regional, in the banking sector, you know, after those banks collapse and so forth, and you know, investors betting that the Fed could rate hikes again. So a lot of things go into this. The futures
traders expect a sixty six percent chance of a hike this month. That's usually a pretty good indicator, sixty six percent chance. So we'll see what the indicators say. But again, we got to get inflation under control. Well that's sixty six percent. That would be nice here for rain, wouldn't it? Oh, sent us some rain? Please wish we had that presentas for
rain? Go hey, uh, you know when when this stuff happens though, and again this gets back to what we were saying before about consumer confidence. Right when the rates continue to go up at what number do we start to worry about hyperinflation, right, Where is that up in the teams when the rates go up that high? Yes, yep, yep, it is. So it's a fine line. They're in a tough spot. Um. You know, another indicator that's going to be coming out this up is the
May Jobs Report. It's going to come out and h and early estimates from economists show job gains of one hundred and eighty thousand UM and a tick up for unemployment up to about three and a half. So all these indicators will help determine where are they going to go with this? But I think you
expect a couple more and hopefully it'll peek out here by fourth quarter. Yeah, because you know, we both remember the days of or at least I do, anyway, of double digit inflation or double digit interest rates rather double dig yeah, yeah, for you know, just buying a house or buying a car, just getting a loan, you know, back in the late seventies, early eighties things. We're up there. So i'd hate to see you really would hate to see that happen again. Yeah, we don't,
we don't want to go there. Well, let's shift gears a little bit here and to me, this sounds like something that should have some yellow police tape around it. It's called the retirement hazard zone, and Kiplinger says, the decisions that you make with your money starting in the last six months of your fifties, so fifty nine and a half, right, could have a
critical effect on your retirement years. So for those who don't all larry, what changes at fifty nine and a half, Well, a lot of the rules change at fifteen nine and a half because there's no penalty to take out some of that IRA money or pre tax dollars, which can be good or bad. But you know what really factors in here is the element of time. You know, the retirement journey. You know, there's there's some phases of life. There's the I call it the accumulation phase. We work work,
work, work, work, and we put the money away. And then you get to the fifty nine and a half, which you mentioned the retirement hazard zone, if you will, which really lasts about say four to five years, and that could be very critical. And then you get to this third stage, which is the income distribution phase and spending down your assets
and enjoying retirement. But what happens since phase number two, that fifty nine and a half can really change things, and the decisions that you make really can have a major factor because you know, I'll remember what happened in two thousand and eight. Well, guess what the element of time factors in what decisions do you make? You know, how much risk do you take? Are you transitioning from what you did in your twenty thirties and forties and you
said it earlier on the show. You know, habits are hard to break, or are you doing exactly the same thing as you were doing before. You know, another reason is you know the sequence of return risk. You know, if the markets are down and you have to spend those moneys, you know those losses affect you even more than evers. You know sequence of return risk as well. So it comes down to your portfolio. What changes
have you made. Have you navigated more towards you know, safety and income or are you still putting a foot on the gas pedal and taking all the risks. So it's how you transition and how you make those changes. And you know, it's putting all these retirement puzzle pieces together. Decisions are very very important in that fifty nine and a half window. You. We talked about rollovers on CA. Do you transition into more fixed income or what are
you doing? The problem is if you're not aware and don't understand, and somebody doesn't explain it, or you don't have a trust factor, or somebody's not paying attention, this could be critical. So this is all part of our proprietary process is helping people understand what you're doing. Here's the timeline, here's what we suggest or recommend, and then you can make an educated decision.
And that tends to work very very well. And now if you want Larry and his team to sit down and talk with you about the process and go through all of these things with you, now is the time to make that appointment for your complimentary retirement readiness review. Six one two four four one two four four one is the number six one two four four one twenty four
forty one. Larry and his team at Haven Financial Group don't put a minimum on how much you had to have saved already, So if you've got a little or a little bit more, or you've got a lot, they're going to talk with you at the Haven Financial Group six one two four four one
twenty four to forty one is the number. And again that complimentary retirement Readiness Review goes over all the things in retirement that are very important to you, the changes with taxes that happen every year, the inflation that we're going through now, market volatility, the cost of healthcare, which we haven't even gotten into today, but golly, we all know that's going up, and especially long term healthcare, which unfortunately does affect a lot of fun when they get
into retirement. Something catastrophic could happen, and you want to be ready for all that stuff, have that plan in place. So give the folks at Haven Financial Group a little bit of your time and see what they can do for you. Six one, two, four four one twenty four forty one quick break coming up, and then we're going to talk about why gender plays a role in retirement planning. And a seaside getaway with a view that goes for miles is going up for auction. If you're interested, we're gonna let
you know about that as well. This is the Haven Financial Group Radio Show on Twin Cities News Talk eleven thirty and one h three point five at that have you had your three R check up, your compliment or your retirement readiness review is just a phone call away. Our team is waiting to talk with you off the air right now. Six one two four four one two four four one. That's six one two four four one two four four one or
online at Haven Financial Group dot com. Welcome back to the Haven Financial Group radio show. We appreciate you being with us this morning. I am Bill Celler along with Larry Colby, founder and CEO of Haven Financial Group. And I'll tell you what there. I don't fly a whole lot, but I recently did take a cruise. We had to fly to the port and I couldn't get over a the fact that just because I wanted an aisle seat, I had to pay fifty dollars more, and then the cost of baggage checking
your bags, right, it's getting out of control. So you really, you really can't blame anybody for trying to get around those fees. With this lady in Australia, you may have taken things a little bit too far. The weight of her luggage was over the limit on a recent trip, so she took the excess clothing out of her bag and put it on. All thirteen pounds of clothes she posted a video over experience on TikTok, which has
already had over like a million and a half views. Unfortunately for her, she and her traveling companion will have to pay a forty dollars fine to the airline. You know, I guess some folks has had enough, right, so fine, I won't check it. I'll just wear it. How you fit in the seat wearing thirteen pounds of clothes, I don't know, but right? People speaking of ladies, you know, on average also no secret, women live longer than men, But the latest numbers from the CDC say
that the gap between the sexes is actually getting bigger. Women now live seventy nine point one years on average, while a man's life span is about six years shorter at seventy three point two. Is that something you discuss with your clients? Does making people understand that, hey, one of you won't be here and the other one could still be around that Does that come up a
lot in planning for retirement? Oh? It does? You know. I'd like to say, we're very very thorough as we walk through the process. You know, do you have longevity in your family and dad's still here? Grandparents how long did they live because you want an idea. Now, we don't have a crystal ball, but you know, this is all part of it. Um Men have are more prone to conditions such as heart disease and
cancer and other things, resulting in higher immortality. Well, I didn't realize the gap has even gotten wider, but again according to the study, it has. Well, you know, women tend to live a bit longer. You know, behaviors aren't as risky as men usually. But that's why we want to plan for the you know, plan for the long run if you're a married couple. You know, that's why we teach a lot you know, we say it's a WEE decision, not a me decision. It's why,
as you know, we teach a lot of so security classes. Why it makes sense maybe for one to wait and not to wait and you know, making a good decision because eventually, if you're a married couple, one is going to go oftentimes the men and your spouse is going to want to live a lifestyle still and I always joke, don't you want to leave your spouse with as much income as possible? Of course I would get a kick
when somebody shakes their head no, but I don't ask any questions. But you know it's a wee decision, not a meat decision for a couple. And you know I tie that into also to long term care. You know a study recently so seventy percent of us are going to need some sort of care in our life. No Gland handles all of our healthcare and medicare and long term care in our office and we have access to everything. But you know, if the female lives longer, they may take care of the mail.
Then then who takes care of them? Again? They could be going into the nursing So have you pursued and looked at all the different avenues to protect against that? Perhaps you're unfortunately you have dementia, Alzheimer's or Parkinson's in your family history. You know, God forbid that happens. But that can decimate the nursing home, can decimate any number of dollars in your estate. So have you looked at asset based long term care? Have you looked at
hybrid long term care? If people are shaking their head, I've never heard of either one. This is relatively new, so how do you protect against this? Again? Longevity risk is real, and again you just do the best you can. And it comes back to having a plan in place that you have some confidence in. That's what it comes down to. Yeah, I wonder how many times do you ask that question with folks come in?
Do you have a plan? Do you have a plan? You know that we ask it a lot in in some sort of shape or form, But oftentimes I'll say, well, what's your strategy been so far? What is your plan? And more often than not, and again nobody should be ashamed of anything. You start somewhere to get somewhere. But the response I get as well, we really don't have a strategy and we're not sure we have a plan. If we do have a plan, we haven't looked at it
in twenty years. Again, a variety of circumstances. Life happens, kids happen, grandkids happen. We then retire, Life evolves. But remember life's calendar doesn't always cooperate with our calendar. Your plans should move with you through the phases of life. There needs to be changed, there needs to be modifications. Somebody should help you and help you navigate through it. And that's what that complimentary retirement readiness review is all about. It haveing financial group,
and again complimentary, no obligation. They'll look at your plan and they'll let you know what's going on with it, any tweaks that you might have to make, or if you're doing just fine, but there's no obligation to follow through with Larry and his team. But boy, how important is it to have folks who understand all these things. Take a look at our plan right to take a look at the money that you've put away and worked so hard for to make sure it is going to work for you when you need it
in retirement. So set up your complimentary retirement readiness review as soon as you can. It just takes a couple of minutes on the phone to get that appointment done. I know it's early and you're busy this morning, but you don't have to spend a lot of time talking right now unless you want to. But it doesn't take law to make that appointment by calling six one two four four one two four four one six one two four four one twenty four
forty one. They're not doing a complimentary retirement readiness review on the phone. You got to go in the office meet with all these folks that deal with all the different areas of retirement and let them help you out at Haveing Financial Group six one two, four, four one, twenty four forty one. And Larry, I know that one of the things you talk about a lot and encourage is diversification in the portfolio. Right, yes, absolutely, I'm not sure if it counts, but it is. Real estate. Seems that
a piece of American history is being sold around the country. The US General Services Administration is auctioning off at least four lighthouses. Now there's an investment for you. I've heard of folks one to buy one and turn it into an Airbnb rented out build up like a kitchen and a And I think some of these lighthouses already are like that because the lighthouse keeper lived there. So that'd be interesting. Right, there's one for sale in Connecticut, New York,
Cleveland Lake Erie, and right here in Michigan. I think you should do that, Bill and then invite us. I'd love to join you. What do you think about that. You're a guy who has a boat, you like being on the water. Why not just moved to a lighthouse and doctor boat and go for it. Sounds intriguing, sounds intriguing. I truly have never met any of our clients or anybody that has purchased a lighthouse. That
would be very interesting. But you know, I do say that whatever you do have, whether it's a lighthouse, a house, material stuff, make sure you have a plan for when you're not here. You know, let's get back to the fundamentals. Do you have an estate plan? Do you have a will? You? Do you have a trust? Have you ever had a discussion? You know? What are your goals? Are you charitable? You know? I just think this week I carry the estate planning attorney.
She must have helped a half dozen people and they walked out with smiles. And I can't tell you how many times these people say, we finally got something done as an estate plan. It took years to do it, But there is just this piece of mind to know that if something does happen, and something eventually will happen, that's just life. That they're pieces that they're Whatever they work for small, meeting at large is going to go where they want it to go. So again, a state planning is another one
of those puzzle pieces. Make sure things are coordinated. Although it's not fun, it does give you a piece of mind. Absolutely, and again it comes down to having that plan and a state planning is part of it. And you know, when folks come in, Larry, I know that it's it's a very relaxed thing because I know a lot of folks don't want to come in and talk about their money and stuff with people they don't know.
But like you said, you have to start somewhere to get somewhere. So when folks come in with you and they sit down with you and your team, it is just the first meeting is what just to find out where they are and what they need. Yep. First, the first meeting is a phase one discovery meeting. It's our initial meeting where you get to know us, we get to know you. And that's important because you know right away I have an idea if this is a fit or not. You know,
we focus on your specific needs. You know what your needs are, what your wants are, what's your concerns, what keeps you up at night, what are your goals objectives. We're gonna ask lots of questions, We're going to take lots of notes, and you know, from there, if one chooses too, then we'll have a set up a meeting called a strategy meeting, and we'll come up with some proposals. We'll first analyze what you're doing,
make open your eyes to something that maybe you do. Maybe you know what you're doing, but we'll just open your eyes to other types of ideas or strategies. Maybe we're there's some weaknesses and there's again no strings attached. Make some suggestions, and then whatever you choose to do, then if you there's an implementation, and then there's no quota as to how many times people
come come in. And the reality is, you know, the first meeting, sometimes people come in and you know what are they going to try to sell us. We're not going to sell you on anything, not a single thing, because I always say if you don't need something, don't get it right. Okay, we're gonna get to know you. We're going to develop a retirement plan. Hopefully open your eyes. You can use us as a resource in any of these areas. Some of these areas are none of these
areas. But again we're going to air on good communication in develop long term relationships that people can have the confidence that they can pick up the phone anytime and ask us questions because that's our job description. It's to answer retirement questions, and you do that by calling six one two four four one two four one. That is the number for Haven Financial Group, where Larry and his team are online at Haven Financial Group dot com. Well, Larry, I'm
we got to get out of here again. The hour has gone by very quickly, and I was thinking about that lighthouse thing. Just too many steps for me. I've got the knees. Aren't quit as Yeah, they're not. So have a great week, my friend, you as well. Bill. Take care and thank you for listening to the Haven Financial Group radio show here on Twin City Newstalk eleven thirty and one h three point five at BA MON Money Friday and five work Work, Work Good. I don't client client
falls make at over time, Kane. All I want to do is good or drinking through it down. Investment advisory services offered through Guardian Wealth Strategies LLC. Even 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 here.
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