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 do, Yes we do, Yes we do. And as always, good morning and thank you, thank you for being with us today as we get together every week to talk about retirement. I am Bill Seller, and he is Larry Calveig, Founder and CEO of Haven Financial
Group. How are you, sir? Hey, good Bill, Good, good morning, and great to be with you. Everything go well last week on your fourth we're just kind of chatting off the air. Sounds like you had a big time last week, really good time. How many times I thought we were going to have and some grilling out and family fun in the summer here in Minnesota. Here you go. I mean, anytime you say grilling out, I'm there, baby, I got yes, me too,
I'm ready to go. So coming up on the show here, we're going to talk about the reality of healthcare costs and retirement, also comparing expenses before and after retirement, and just a quick quiz to assess your money personality. I'll be kind of fun. We're gonna see where you fall on that chart as well. But man, Larry, I don't understand people who try to get away with I'll just say stuff because it's a family show. Try to get away with stuff, and where they get the nerve to even try this?
Did you hear about this guy in California? He fooled investors into thinking he was building a facility to convert methane from kalmaneure into natural gas, but instead he used the money that he secured for his business loan just to spend on himself and kind of live it up and have a good time. You know, yes, I mean, where do people get off doing that kind of stuff? Larry, don't? Yeah, you reap what you so?
I mean, well he got what he deserved. Yeah he did, because you know where this is going, right, The investors demanded refunds and he used new investors money to pay the old investors. It was like a bad sitcom. Really, But who's laughing now, right, because he's been ordered to pay back about nine million dollars and has to serve more than six years
in prison because of this Ponzi scheme. So well, you know, a bill in our industry, you know, first of all, there's a shade of grade every industry, right, And over the years, you know, I've come across folks that have been on the wrong side of the table of folks like this, and it again, it leaves a bad taste in their mouth. And you know, I think just about a month ago, I
had a couple in and just a wonderful couple. They're just they're just newly retired, and we talked through all the things we normally do, and I could just tell that there was something that was bothering them. And finally I said, did you have a bad experience in this industry with someone or somebody? And they said, yeah, we were taken by somebody and egue and
a few years ago and half of our retirement is gone. And it's just heartbringing to hear those things, and it's it's unfortunate, it's the world we live in, and again you reap what you sow and you know those people are exactly where they belong. Yeah, And you know it's one thing if I just walk up and try to say, look, I'm going to be building this thing, I need your money. But when you go to somebody who's supposed to be good with your money, right, like you said,
somebody in your industry, that just hurts even more. I mean that's just unfortunate. It is. It is wow. You know, I also know, Larry, besides, like those conversations you just talked about, you also know you know you you talk to folks about what their ideal retirement is. Right, Let's let's talk about something a little bit happier, about the hopes and dreams of what we can do in retirement. You know, a lot of us have a have a pretty good idea of what we want and how
we want to get there and live and live out our years. And now that sounds like you listening. Here's the biggest question is how can we achieve that? Right? So, Larry, is saving alone enough for what else should we be doing to make sure we get to enjoy those years? Well? Bill, a perfect retirement means different things to different people, and I've witnessed that over the years. And it can mean travel. It could mean
golf a lot, It could be fishing. It could be rekindling relationships and spending time with family, doing the things you didn't have time to do with all those years of working. And you know, we encourage folks to share these things with us. You know, it does take money. Now money isn't the root of all retirement, but retirement is a transition. Not all
respond the same. Some folks it takes more time. You know, there's a social aspect of you know, all these years you've gone to work and you've developed relationships with your colleagues, and now more than ever, you're trying to find yourself. What are those relationships? And you know we joke about it, but even your spouse, all those years you went to work, you had different time together and now you got all kinds of time together.
So you know, it's a transition. Just remember that you got to find your purpose. Some it's volunteering, you know. I think of Randy from Lakeville, him and his wife, they volunteered at Twin Stadium and others. I think of Richard actually from inver Grove Heights. He's works at Alion Stadium with the soccer team, and you know, you got to find your niche and it does take money. And you know it's why as we talk to
people about their retirement plan, we want to know these aspects. You know, we're going to ask these questions on our proprietary process about what are your goals, what are your aspirations? You know, you know, does your plan allow for these items? Have you have you factored them into the equation, and then we'll look at the sustainability of whatever that plan looks like,
because you know, it boils down to income. You know, most folks in retirement, most are on a fixed income, a monthly income that they live off of, and you know then they're going to supplement that with other retirement funds that they perhaps I hope they have saved and maintaining a good level of liquidity. We talk about that often, you know, having stock market
investments relative to your life at this time of life. And these are the conversations that we want to have over time so you can pursue these goals and think of it this way. Guarantee the income that you need for retirement and then think about what do you need guaranteed for the fun stuff in retirement. You know, like Colin and Carroll Lee who love the cruise. They cruise. He's from New Zealand and they've been around the world I don't know how
many times. And these things cost money. So you need to have a plan and just remember retirements of transition. And it takes time for people to adapt to this. Yeah, it does, it does. I'm living I'm living with it now with my wife. She retired about a year and a half ago and is finally getting on her feet a little bit because she was so used to working all those years and then she wasn't and then she said,
oh my god, I'm with you every day. So I would hope so I would hope people would have every you know, we're looking to cultivate a relationship. We want folks to share these things. If you're not sharing these things, then how does the folks that you work with really know? How do they really know? And then if they don't really know, how
can they really customize a plan to your liking. So we just think that's the added value that comes with working somebody over the period of time, right And you're talking about, you know, being able to live off not just the money you save, but hopefully the way that you invested. And that leads to the conversation that we have all the time about how important it is to have a diversified portfolio, right, I wanted to I wanted to go
a little deeper in on that. As a matter of fact, if you know, obviously it makes sense to avoid putting all your money in one place, like a guy wanting to start a methane conversion business. But you know, what are some other options for what you consider to be a well balanced portfolio. Well, let's start at the beginning. First of all, just
for clarification. Diversification in the investing is the process of spreading investments, you know, across different asset classes, classes, industries, perhaps geographic reasons,
and too purposes to reduce the overall risk of an investment portfolio. Now that the idea is that by holding a variety of investments, the poor performance of one investment can be offset by the better performance of another one, you know, really leading to a more consistent overall return over long periods of time, which we hope retirement is over a long period of time. So how often should we repeat balancing? You know, it really depends upon you know,
the volatility in the market. You know, oftentimes people there's you know, observation over the years is people have, well, I'm going to diversify it. I don't want all my eggs in one basket, and then they have three different statements, thinking that that means it's diversified, when all three statements pretty much have exactly the same investment. So that's not diversification. You can be with one company and be very diversified, and you know, that's means
spreading out over style bonds, maybe to emerging markets. Commodities may be sprinkled in, you know, some cash or cash equivalents, a little more risky, you get into derivatives and some hedge funds and throw some crypto maybe maybe not. But again that's what diversification is, and that depends upon how much
risk you're willing to take. And that's where we build out these plans based upon somebody's comfort level, if you will, with the wide range of ups and downs, and that's unfortunately what people don't know that they have within their portfolio. We believe you should have some awareness and understanding so you can avoid some of these pitfalls in retirement. Right. And of course some of us think that we're risky and we're not. And some of us think that we're
not doing risky things and we are right. I mean, that's why I think it's important to have somebody like you help out. Yeah, more so the latter, because you know, we work with those that are close to retirement and in retirement, and not everybody likes to talk about this stuff. I get it. And by the way, retirement is more than just the investment side. It's all the other puzzle pieces we talk you and I talk
about weekly and they say, well, Larry, we're getting close. You know, we're getting older now and we believe we're a little bit more conservative as far as investing. Now. Okay, how so, and we'll dig in and look under the hood and find out they're not doing anything near what they thought they were doing. And that's a recipe for a surprise. And here's the response, Oh my goodness, no, wonder I did so bad last year? Correct, you are correct. Unfortunately you didn't know that.
Do you want to fix the problem in how so, there's the process we go through, and that process begins with a phone call to the folks with Haven Financial Group. Six one two four four one two four four one is their number. That's how you get on the calendar for their complimentary Retirement Readiness
Review six one two four four one two four four one. And what will happen is you'll go in and you'll sit down and Larry and his team will take a look at all of your retirement puzzle pieces that he talks about and make sure they're all working the way you hope they are. Six one two four four one twenty four forty one. And coming up here, we're going to talk about planning for some of the biggest expenses in retirement, also healthcare,
taxes and travel and Frazier not in Seattle anymore. We'll talk about what's going on there investing, estate 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 on Twin Cities News Talk eleven thirty and one oh three
point five FM. I can't go to Welcome back to the Haven Financial Group Radio show with Larry Klavigia. He is the founder and CEO of Haven Financial Group, and I am bill seller. I just kind of tag along every week to ask Larry a bunch of questions about retirement. And you remember, I don't know we talked about this last year. Have you ever get to see the Elvis movie The Star Austin Butler? I did that. You've got to see it, man. It was really well done. It was out
last year. It was one of those I caught it when it was on HBO and I still think about it sometimes. It was a well done movie. At any rate, you knew this had to happen. There's a new movie coming out called Priscilla Yeah, based on Priscilla Presley's nineteen eighty five memoir. Now, like most things that surround Elvis, this isn't without controversy. A matter of fact, Priscilla's a state is calling the movie a travesty.
They claim it was produced without their knowledge or even their consent, and that I don't know who's in the movie. I'm not sure who's starring in it. But apparently the folks who who really know Priscilla say they're not happy about it, so just go up. I guess I guess there needed to be a sequel. I don't know why, but there you go. Just either either for those of you who are really looking forward to that, or it's
a warning. You take it how you want to. That's fair. You know, we talk about this a lot, Larry, the cost to healthcare and retirement. I mean, we know it's coming, we know we're gonna have to do it, but we don't want to think about it or talk about it, right, And a lot of times it's higher than you think. A matter of factory report by Fidelity in twenty twenty two estimates that a newly retired couple at the age of sixty five needs around three hundred and fifteen
thousand dollars just to cover healthcare expenses. You compare that to the average IRA account that has a balance of just over one hundred thousand. Man, what are our options? I mean, look, I'm not good at math, but even I know those aren't great numbers. What do you do here? So, yeah, healthcare is a major expense in retirement. And you know, with that said, you know, three hundred fifteen thousand is a lot of money. And just according to some recent studies by the National Institute and
Retirement Security, forty million households have no retirement savings at all. That's scary. It estimates that Americas have current retirement savings deficit of US households has a deficit of about three point eight trillion dollars. So, you know, with American family savings accounts being depleted, a lack of retirement dollars saved. You know, this healthcare is a major major threat and people have their idea of I'm going to retire at sixty five or sixty six, when really the average
retirement age is sixty two. So there's three years before Medicare is going to kick in. So the question is how do you bridge the app for healthcare? And that's where we do lots of education. You know, people need to plan for We're living longer, medical advancements, doctoring. You know, the rate of inflation on healthcare continues to outpace the general rate of inflation, so all these things, how do you pay for it? So how do
you bridge the gap? Now? Gland handles all of our insurance and then others on our team to help people figure out what makes the most sense because bridging that gap from sixty two to sixty five, you're going to go have to go to the open market, you know, the private healthcare or if you if you have lower income, perhaps maybe go to menshure. And this is where we help people out figure out what's the best based upon prescriptions and doctors and clinics, you know, with access to all of them, to
make sure they're not spending too much in these various areas. But people need to plan for it. Are you going to sell fund? You know when I said menshure, sometimes people have lower income when they get into first retirement, maybe they delayed soul security whatever. And if there's some income thresholds that if you're under those, then you can get on mansure and pay lower costs.
So you know, you have to figure out and that's where we help what makes sense, have these discussions and then you know, maxing out your HSA that's a big one. I encourage folks to max it out because you know that's going to enable you to have tax free spending on these healthcare costs when you do get to retirement. And remember Medicare is not long term care.
Sometimes people assume that Medicare was going to cover all your healthcare costs and retirements, and then if you go into the nursing home as well, it's not going to it doesn't looking at long term care options, you know, looking at Medicare advantage and supplements at sixty five. None of this stuff is
fun conversation. But what is your plan when you get there? And if you have a track record of a family going into nursing homes, have you looked at asset based long term care, hybrid long term care or if you just focused on the traditional long term care. By getting educated, you can
explore all the options to figure out what makes the most sense. And this is where we have a thorough focus in all these areas to make sure people aren't missing something that maybe that has never been talked about again for you, your spouse and if you're married, your family. Yeah, this is all important stuff, right. These are things that, like Larry says, people don't want to talk about, but you need to and you need to have
an understanding of how it's working with the plan that you have. And that's why the you know that complimentary retirement. Reading this review to me seems like a no brainer. Just giving the folks that have in financial group a call. It's six one two four four one twenty four forty one. Is how you set yours up? Six one two four four one two four four one. And again you'll go in the office, you'll sit down, you'll meet
with Larry and his team. He's got all these folks that specialize in each area of retirement, all those different puzzle pieces, and you'll find out if they're all working and lined up the way you hope they are to get you through your retirement years. Get your complimentary retirement rating this review six one two four four one two four one. You know, speaking of healthcare, sometimes things don't go well, and like you always say, you know, none
of us are here forever. So something else we want to consider in retirement, Larry is a state planning, you know, talking about the medical expenses, but what about medical decisions? You know, who's gonna make them for you if you can't? You know, that's all part of a state planning those unfortunate things, right, Yeah, one more thing on the healthcare bill. The healthcare discussion can be very complicated and people can get very confused.
Let somebody do the work for you. You're not going to pay anymore. Make sure they have a non biased approach. Now, yes, on a state planning it's another one of those puzzle pieces. You know. I joke the mortality rate in the state of Minnesota and everywhere is yes, it is. Now I hear there's a exception, but that's a talk for Sunday morning. Well, I guess it is Sunday morning. So there we go. But again, Carry is we work closely with Carry, our state planning attorney.
You know, having the discussion of if something happens, my spouse can take care of me automatically. Not true. So who have you appointed as your durable power of attorney which means that it can stain effect through incapacity. Durable power of attorney for what financial decisions, medical records, healthcare decisions? You know, do you have a living will? That's appropriate? You know, we live in a very litigious society. What happens when somebody goes do
you have a will? Do you need a revocable trust? Have you had a discussion? You know, there's this misconception that trusts are only for rich people. Couldn't be further from the truth. You know, if you have adult children, you know, set a state planning. You know, we've kind of made it as a society something. Oh we'll do that when we get older. It was designed when you became an adult, had a family,
got married, or had assets to protect. And it's not an older person discussion again being proactive, because if you don't, if something happens, and what's the old saying, nothing's ever going to happen. Until something happens, then guardianship could take into effect, meaning guardianship oversight of what you do, kind of like a parent. And then conservatorship they have control of your
checkbook or your finances. Would you rather have the government be part of that or appointing your spouse, a loved one, a brother, sister, sibling, whomever that might be. And oftentimes people say, well I don't know who I would want. Well, most would say anything better than the government or the state. So maybe you have a special needs situation special needs,
Do you need a special needs trust? What have you put together from a legal aspect to protect the interest And if all of this sounds confusing, you know that's where we have the no cost consultation on a state planning with Kerry to go through these things and she's so thorough and then at the end of the day when people finally get it done, you can just see the peace of mind because there's no automatics today. And you know what I like.
Also what she does is she puts together a letter kind of a plan of execution, because it's one thing to have the documents, but then when you're passed, now what And it just has so heartfelt the letters she helps put together with folks as far as a plan of execution, and again, peace of mind, taking care of what you worked hard for all these years and getting your ducks in a row at the end of the day. There's something
to say about that. Don't let the government in taxes be the sole beneficiary, absolutely not no, yea of mind as well well, if we're gonna take a quick break and coming up here, challenging one of the most common assumptions about retirement. Also strategies for avoiding their retirement tax trap. And if you'd like to travel, we're going to talk about one of the top destinations for retirees right here on the Haven Financial Group Radio show. Text. Have
you had your three R check up? Your complimentary 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. This is the Haven Financial Group Radio Show on Twin Cities News Talk eleven thirty and one oh three point five FM. Hey baby, I hear the blues A callin toss salads and scrambled eggs,
and maybe I seem a bit confused. Yeah, maybe, but I got your bagged. Welcome back to the Haven Financial Group Radio Show. I'm Bill Seller along with Haven Financial Groups Founder and CEO Larry Calvig. And it's hard to believe it's been twenty years since Frasier ended. I used to love that show, watched it all the time. It was on NBC for a long time. And as they're doing with a lot of shows now because of these streaming services, Larry, the fans who are missing it, we'll see a
reboot of the show. It's gonna be on Paramount Plus, and instead of taking place in Seattle like it did, it's gonna take place in Boston, which, of course, if you are a fan of the show. Know that that's where Frasier started as a regular Uncheers. So see it's all connected to get him back to Boston, I guess. And Kelsey Grammer, who plays Fraser, to be the only original cast member returning for the new show.
He says, it's going to be funny, funnier than the original, but you know, in the long run, we'll be the judge of that. So I'm kind of looking forward to it, just to see what it looks like. I was a big fan of the old show. I never got into that it was it was a it was a good it was the right time for that show. I don't know how often it would have worked,
but it was a good time for it. So but I was also a huge fan of Cheers, so I was just curious to see what was happening, right, I did watch Cheers, Yes, yes, where everybody knows your name, oh Man. So you know, many people believe that their expenses after retirement are going to be reduced and that they're going to be able to live on a lot less. Right However, Investipedia reports that expenses, you know, really don't change all that much. You know, as
we discussed a few minutes ago. Healthcare is one reason and another is travel. Do you do you see that with your clients because they they retired, they're not spending as much on stuff at home. But maybe they're kicking up there. Because while we hear a lot of exciting stories about travel, and you know it takes money, expenses do not get cut drastically when somebody passes. You're right, I hear about it all the time. You know.
The common rule about retirement is that you'll need about seventy to eighty percent of your pre retirement income to cover your expenses during retirement. You know, it might go down a little bit, you know, jokingly. You know, Joe passes in the four hundred dollars he spends on beer every month, But it's not going to go down drastically. So plan accordingly, because you know, if people have more time to spend on travel and shopping. You know,
we talk about the go go years a lot of times. When you're newly retired, you have the ability to go when you want to go when you still can, so expenses can creep up and then you start slowing down a little bit. We're not going to do all of the functions and then expenses can taper off and then the no go years where you don't have the typical expenses, but then healthcare tancily, God forbid healthcare, and those expenses
go up. So it's kind of a little bit of a cycle. But you know, a plan on at least seventy buffer in these travel plans. If you're the one that wants to travel, let's budget for it. You know, we factor it into our plan, you know, just Steve and Karen last week. Steve is retired and he's still a musician and Karen newly
retired. She was in last week taking care of her healthcare, bridging the gap because she's not sixty five, just like we talked about, and they told me about her plan, which Steve is on board about traveling Europe for ninety days. Well, thankfully they have a plan. We've buffered it in. But ninety day travel across Europe. They want to see all of Europe. Good for them. Now, if one hadn't planned accordingly, perhaps they
couldn't afford it. So you know, think of the cost associated factor it in and then again make sure that you don't forget senior discounts and senior perks that are out there. Sometimes people have some oversight as far as they don't ask. Again, factor in healthcare, we already talked about that, you know, unexpected medical expenses. And then the other thing that we oftentimes don't
talk about is why do some of the expenses stay up. Well, if you get close to that seventy three age seventy three, now we have required minimum distributions all those pre tax dollars that Uncle Sam has been patiently waiting. No longer, he's no longer patient. He wants some money. And that's a percentage of your overall total of pre tax money. So think of that four of it starts at about four percent. That could be additional income which
can increase taxes and therefore it can increase expenses. So if you plan ahead and factor these in, then there should be no surprises, and that's the goal. Unexpected surprises are not fun oftentimes anytime, but let alone when it comes to your money in retirement. So factor these in. Yeah, we're gonna talk a little more about tax but first let me give the phone number again. It is six one two four four one two four four one six
one two four four one twenty four forty one. You know we have people standing by right now, yes at this hour, to answer your phone call to set up your appointment for your complimentary retirement reading this review, all right, you don't have to stay on the phone a long time. Just get on the calendars. You can get into the office and talk with the folks at Haven Financial Group. Do yourself the favor of going in and having them
look over your plan with that complimentary retirement. Reading this review six one two four four one two four four one, and you're touching on at their taxes and based on rmds and other things that you know that that bill can always be a lot higher than anticipated as well. What are some other tax pitfalls that we have to look out for, Larry, that maybe we're not thinking
about. It never ceases to amaze me how many times people work with somebody as far as investments in retirement and they don't have a conversation about taxes. Their taxperson whoever that is, is not talking to the investment people or the estate planning. Remember I talk about the coordination of these retirement puzzle pieces. Taxes is a major conversation that we have, you know, forward thinking tax
planning, so important. Are you a tax planner, which then leads to tax preparation or do you just bring in a bag full of your stuff and get it prepared and say let me know when it's done. Planning is important because that leads to successful preparation without the surprises. Planning for these r and ds that I was touching on required minimum distributions. Oftentimes, people in the earlier years of retirement maybe have less income, haven't turned on so security.
They're delaying it for good reason, and their income is low. While we want to factor in filling that twelve percent ordinary income tax bracket at that lower rate, and if you don't need distributions to pad your savings account for liquidity, maybe that means doing an IRA to ROTH inversion. So many times people miss opportunities. There's unforced errors. Oh, nobody told me we miss the opportunity. That's why we want to have these tax discussions so we don't miss
this. Lance is our CPA. We'd bring him in. You don't have to use him if unless you want to. He does tax preparation. He's extremely good, extremely thorough, but making sure that we're taking advantage of these tax nuggets. Roth conversions you know, maybe zero capital gains tax rates on some of those investments you've had for years. Anytime I hear zero taxes, it gets my radar up, and it should. Are there any special tax
breaks on your property taxes based upon your situation or income? And there's numerous other things. But if you're not having these discussions, then how are you going to know? You know, when people have I hear people grumbling about, Oh, I got those big tax bill at the end of the year and I don't know why and nothing ever changes. Well, I do have enough acts withholdings. Oh, nobody had ever said anything tax estimates to avoid penalties? Do we want to avoid these penalties? So again, all of
these things relate to your money in retirement and taxes. Again, anybody think taxes are going to go up and down? I think it's a one way street plan accordingly, so you're not leaving Uncle Sam a tip. They don't need the tip. Yeah, I'm very rarely to do taxes ever go down, right, They're always on the other way. So again, these are all things that they get covered during that meeting about your retirement plan, your
your complimentary retirement writing. This review includes talks about all these things, So again, give the folks at Haven Financial Group a call six one two four four one two four four one, or you can find out more about Larry and his team online at Haven Financial Group dot com. Coming up, we're gonna talk about if you're ready to travel what one expert says is a top destination for seniors. Also our our money personality quizzes on the way. You
may have heard about this already, but crickets going wild out West. Yes, crickets major issue. We're going to talk about that as well. It's coming up here on the Haven Financial Group Radio Shows. 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. No, I'm laughing, but I'm not sure I would if I actually lived in Nevada. Where do you hear this? Okay, Well, welcome back to the Haven Financial Group Radio Show with Haven Financial Groups founder and CEO Larry Caulvig. I am bill seller, and uh, it seems like every year we have a new insect to worry about. Right, we had
killer bees. Uh last year, what was it? Murder hornets? And now we have to watch out for cannibalistic crickets West. Have you said, have you seen this stuff? Larry? It is crazy. Yeah, as their name implies, they like to eat their dead friends. And western parts of Nevada and Idaho have been just invaded. I mean millions of these annoying crickets. Right. Residents are complaining of a really bad smell too when when the dead crickets are left behind. They say it smells kind of like Bernie
Flash, which I find. But people have tried to fight them off with brooms, leaf blowers, pressure washers, even snowplows. That's how thick these things are piling up A hospital I read even hired a cricket patrol whose only job was to clear crickets from the interest to the hospital. Oh my goodness, it's crazy. It's like it's like a bad you know, a b
science fiction movie or something. Right, So, before the break, we were talked about your money personality, and you know, when it comes to our personality, it's not just limited to our sense of humor or the way we deal with stress or whatever. I recently ran across a money personality quiz on life sorted. By taking the quiz, you're gonna fall into one of
five categories. And the idea was that if you know your money habits and tendencies, the better you're gonna be able to make smart money decisions, which of course equals to better time and retirement. Do you think this kind of thing really helps Larry or is it like, you know, Cosmo taking a question Cosmo, how does that work? Well? I think it's important to understand, you know what when it comes to money, you know what personality
you do have. And you know that's why as we take folks, you know, through our proprietary process where we want to develop this long term relationship and cultivate it. You know, on the discovery meeting, you know, we're going to ask a lot of questions just to kind of see you know, where they're at, you know, and get to know them. You know what concerns you you know, what needs do you have? What wants do you have? You know, what are your goals, aspirations and strategies
that you have in place? And you know, last week I had a couple in and I asked those questions and they said, well, we don't have a plan, and my spouse doesn't seem to care, and I'm concerned and I just don't know. Well, I appreciate your honesty. You got to start somewhere to get somewhere, and that's where we're going to take note, ask questions, take notes, listen, and develop that relationship. You know when people ask me all the time, you know, nobody's ever asked
me that question. I can't believe how many times I hear and I'm like, nobody's ever asked you this question as it's so important as it relates to your retirement, and I'm kind of shocked. But if you don't have that plan a relationship, I guess I shouldn't because you know, there are some basic personalities when it comes to this. There's the contemporary financial person or whatever that might be, and you living and spending the now, generous with your
money, even if it's a stretch. You maybe know somebody like that. And then you have the person that has their ducks in a row, the enterpriser crystal clear in the future, and you know exactly where your money is and how you're going to use it. Then you have the minimalist, you know, smart with the money, very cautious, thinks long term, probably very frugal. Then you have the realists, play it safe with your money, all of it's sitting in the savings a counter or in my mattress.
Maybe know somebody like that. And then the socialite. I like the finer things and I'm going to share it with everybody around me. Well, each of these has their own way of working with money and doing things. What is your Which one do you fall into? I think it's important to know so you can address that and not to say you should alter it, but accommodated as part of your plan as far as the expectations go. Okay, well that's a good thing. As a matter of fact, I'm almost done
with it now. I'm taking the quiz as we speak. I was just kind of curious to see where it is that I fall into the spectrum here, and I guess it is a good idea to kind of have a handle on you know where you are and how it is that you do approach these things right right. It is important and you might not be exactly in one of these five that I mentioned, but you might be across between two of them or three of them. It's just important to know. Yeah, it
is absolutely And so the result of my quiz is I'm an enterpriser. It tells me here that I'm an enterpriser. Is what it says. There you go crystal clear and your financial future. You know your money and how to use it. And you know why because I do this show every week with Larry That's why good answer Bill and I take the advice that he and his team have it have in financial group and get if you if you want to, you know, find out what kind of money personality you have, you
can do that. And Life Sorted is the website and it's a fun little quiz, but it does maybe help you out a little bit when it comes to realizing where you're going to be in a retirement with the money that you have. So it's always fun to do those kind of things to see where you fall. So earlier we were talking about travel and for many you know,
it tops a list of things to do in retirement. Farmers has put together a list of top destinations for retirees, and these were all based on recommendations from the folks at ARP and they say, if you like sand and sun, then you want to consider the Caribbean. And if mobility is an issue getting around down there, how about a Caribbean cruise. Now, you and I have both done one of those and been down Aribbean recently, and things are pretty good, They're fantastic. Yeah, you've got a lot of
folks. I know we've told the story a few times here and there, but I do know that you've had folks that go on cruises, and one lady who decided to go on a cruise and leave her husband behind just because right, yes, yes, she wanted to find herself and she went out of seven month cruise and I'm like, well, that'll be fun for your husband to go with. He's not going with. Now, I'm like,
okay. But that gets back sometimes right to what you were saying earlier in the show about the fact that you know you're both working all the time, and the time that you do spend together, usually at night at dinner, a little bit before bed. Now, all of a sudden, you're both retired and around each other and you're like, well, maybe I need a break. Very true. You know, this article points out that medical studies
showed travel promotes healthier hearts and brains and a reduced risk of depression. Now, who wudn't want that? Now we hear all about people's travel plans and expeditions and all these things, and it's really fun to hear. But these things take money, and as we mentioned earlier, make sure you're buffering it into your plan to make sure it's feasible that your sustainability of your retirement is
going to last. So that's very important. Now, that's why it's important to have that plan because just like those medical studies show that travel does this well, so be it by having a plan. You know, we want healthier hearts and brains and reduce of depression. So having a competent retire plan in all these areas can give you that confidence and security to know we have planned accordingly. There shouldn't be any surprises. If there is, will adapt
and make some adjustments. So it comes down to that plan again and again. As far as a recent not recent, over many years. Actually the Caribbean, you and are big fans, very relaxing. But we also heard like Yellowstone US National Parks, Yellowstone and by the way, to make sure you get those senior discounts. Sometimes there's senior passes. You know. Glenn's one of our advisors. Him and his family was just in the Great Smoky
Mountains and he had an absolute blast. He said it was beautiful. I've not been there, and you know, we hear great stories of Alaska and that's on my bucket list, mine and Michelle's bucket list. You know, all the wildlife and oh it's amazing. And what about like European river cruises, right, I can't believe how many of our clients going Viking cruise as a nose and the Rhine and the Danube. A lot of fun takes money.
Make sure it's part of your plan and according to how much you spent, so having part of your budget to know that you've accounted for it absolutely And you know, that's one of our goals, my wife and I when I finally do decide to retire, is to do more traveling, to see more of the world. I was very fortunate as a child. My grandfather was French and lived in Paris, and we got to go over there quite a bit to visit him, and he would take us to various parts of
Europe and all that. And you're mentioning that Rhine River cruise. I remember doing that. It's a ten year old and I'm all fun and I'm so old. It's amazing. But you know, when you're a little American boy on this boat and you come around the corner and see this huge castle in the middle of a river and then you get to get off the boat and go into the castle. Oh my goodness, wow, memories. Oh yeah,
that kind of stuff sticks with you all the time. And you know, just because I'm heading towards retirement doesn't mean I don't want more of those. And so planning for that kind of thing and making sure your retirement plan is set for that is another great reason to call Larry and his team for your complimentary retirement. Reading this review, the number again is six one two four four one two four four one six one two four four one twenty four
forty one. Get on the calendar as soon as you can go in and chat and like Larry always says, it's just a meeting to meet you and figure out if we're going to work well together, because, like you say, not everybody works well with everybody right. We're not a perfect fit for everyone. We deal in all the aspects of retirement. I call all of those retirement puzzle pieces a lot of what we talked about today. I always
say, if it doesn't feel right, you know it's not right. And when in doubt, you should ever feel guilty about getting a second opinion, just to make sure you're covering your tracks in all areas and you're not being skewed one direction. So a non byst approach, a laid back, comfortable approach, coordinating all these retirement puzzle pieces to make sure that it's very fine tuned going into those golden ears, because we want them to be golden absolutely.
And look, I'm I'm bringing up the no obligation thing because I don't want people to think this is a big time sales pitch. It's not. It's a chance for you to go in and talk with somebody who knows what they're doing and can help you understand better how your money is going to work for you in retirement. And to me, that's a no brainer. Six one two four four one two four four one. That's six one two four four one twenty four forty one or online at Haven Financial Group dot com.
Well, we're out of time, Larry, so I'm going to head out of here and go check on my methane factory. And I'm sorry. That's that's bad. People lost money on it. But that guy is exactly what that stuff is. So anyway, have a great weekend. We'll we'll get together again next weekend. Have a great week Bill, and thank you so much for listening to the Haven Financial Group Radio show here on twin Cities New Stock eleven thirty and one h three point five fout. Investment advisory services offered
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