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. Every week people ask are they really there? Like, Yeah, they're there. Folks are answering the phones, So make that call as soon as you can. Right, we're gonna give you the number again six one two four four one two four four one. And that's where your complimentary retirement
readiness review. We're going to talk more about that as the day goes on. And welcome in the reason we're here. The gentleman in charge of all this stuff from Haven Financial Group, the founder and CEO, Larry calf Good morning, Larry, Good morning, Bill, Happy Sunday. Yes it is, yes, it is. Coffee and hand are ready to talk retirement stuff,
Larry. And if this is your first time with the show. We'll welcome in and what we do here is we talk about what it takes to get through retirement, especially during times like we're facing right now, and the best way to get there is to have a plan, not wait until something happens and then try to figure it out. Right. That's what Larry and
I are going to talk about today. We talk about what Larry and his team at Haven Financial Group can do for you to not just help you get ready for retirement, but to get you through retirement and be able to enjoy as we call them, the golden years, right, Larry, that's what we like to call them. We want them to be as golden as possible. Absolutely, we got some good stuff coming up today to talk about as well. For instance, how much Americans think they're going to need a retirement.
There's a big difference between I think what they think they'll need and what they're actually going to have, and what to do and not do. If you win big, we'll talk about that as well as Peak sixty five it's coming in twenty twenty four. We'll talk about what that is. I know you're a big swifty Larry, You're a big Taylor Swift Fay Right, Well, I don't know if i'd say big. I can appreciate her music.
You know, she's just announced some new cities I think here in the US, but the major part of her US tour is over her errors tour just came to an end, huge undertake. I don't know if if you've ever been to one of these concerts with somebody like Taylor Swift or these big, huge stars, but there were at least fifty tractor trailers involved in hauling all the gear around to these different venues. I mean, just crazy amounts of equipment and people that it takes to set these shows up. And it turns
out that she might actually be kind of bighearted. Yeah. I don't know if you've heard this, but she personally paid out fifty five million dollars in bonuses to the cast and crew, including one hundred thousand dollars for each trucker. Larry. Wow, that's a lot of zeros be driving a truck for Taylor Swift. And no disrespect to you, sir, but I instead of being here, but I completely understand, just refer to him so I can
help her with her funds. Well, exactly, just make sure she has the plan in place to be able to afford to do this, I think is what the tailor needs. So I'll talk to her next time. I'm driving that truck for us. So that's pretty awesome. Now, fifty five million in bonuses to the cast and crew and hundred grand to Trucker's not bad. But she's been rewarded heavily too. And she, well, I guess
he's got amazing energy. So she was just in the Twin Cities here, I don't know, six to eight weeks ago, and they packed Minneapolis like nobody's business that weekend. Oh yeah, she's well, it's good to be young. And I think I read where this tour is going to put her over the just As tour alone over half a billion dollars in revenue. Wow, So she can afford the tips, I think, yeah, just as tax right us. Yeah, I'm just trying to do the math in my
head and I can't, So let's move on. It's no surprise to anybody when I say it has been hot lately, writes scorching temperatures across the country, and it's more than a weather concern. Really, Triple A says the extreme heat is causing problems at oil refineries, which of course then drives the price of gas up by about a quarter. I've seen it go up at the pumps lately. The sweltering temperatures have depressed a lot of vacation travel as
well. Having fewer drivers on the road is actually helping keeping the price high. As a matter of fact, in California it is five dollars or more a gallon, So it's just kind of crazy. What's the highest price you've seen, Larry, you've been now trying to fill up lately. I think probably close to four. I guess it's up like twenty cents in just one month, so you know, you're right across the country, we've had scorching
weather. All these things affect you know, the refinery operations. The equipment gets hot and fails, and so there's reduced outpit or some of them just you know, shutting them down altogether. Because I guess I didn't realize that more than sixty percent of the country's oil production comes from the Gulf coast of
Texas and Louisiana. You know, they've had some scorching heats, so all of this stuff's affects the costs that goes with it, because you know, what runs good at one hundred, one hundred and fifteen degrees, which a lot of states have seen. And you know, certain other things I've also affected, like you know, the refinery costs, you know, the crude oil prices, seasonal demand, because gas prices are a little higher, there's not as much travel this summer. You know, further you get from the
supply chain, the more gas costs. So there's you know, the inventory. Sometimes they increase inventories and that can help the costs a little bit. So yeah, it's we're feeling it. We're feeling it. Yeah, it's great. A friend of mine who lives in Arizona, she posted something on Facebook the other day. It was like, dear Lord, whatever you have in the microwave, it's done, Please turn it off. It's been really hot in Phoenix, I know. And you're right Texas too. Texas has
been suffering badly. It's just hot everywhere. And of course then that, you know, drives up consumption of not just oil but energy. Right, but everybody's air conditions are running, and it's all part of the everything that we have going on right now. As far as rising prices, inflation and
all that kind of stuff. It's a tough time for everybody, Larry, and that's why I think it's really important that folks who are getting close to retirement or even in retirement that don't have a plan to start thinking about one, because when you get to retirement, if you don't have a plan in place to help you with all that money you put away and kind of protect it right and make sure that it's going to be there for you during your
retirement years and not be affected by a lot of what's happening now. And it's impossible for it not to be affected, but to reduce how it's affected. That's what you guys do, right with the plans that you put in place for people. Yeah, I guess you know we're talking about expenses and everything costing more now, I'm probably more than ever. You know, people should analyze their expenses, especially as it relates to retirement and as we build
out plans for people. You know, I think if Jerry and Sue from Lakeville just this past week, and you know, we asked lots of questions, take a lot of notes, and I asked them, I know you mentioned that five thousand dollars a month is your monthly expenses for the household? I said, do you feel comfortable with that? And they go, you know what, we really should put pen to paper because one as accurative numbers
as possible. And when they did that, they called me and said, well, wow, Larry, it was about two thousand dollars a month higher than we anticipated for a variety of these reasons. You and I talk about on a weekly basis, and you know what, two thousand a month. When it comes to building out a retirement plan, we want accurate numbers. And if you put garbage numbers in, you're not going to get accuracy.
And you know that's extremely important. So it's very good time. It's always a good time to fine tune things absolutely, and that's why calling the folks that Haven Financial Group at six one two four four one two four four one could be one of the smartest things you do. Get your plan. If you already have a plan, get it checked out. It never hurts to
have that second set of eyes we talk about all the time. Or if you're thinking about getting ready for retirement or looking for a retirement plan, the folks that Haven Financial Group can help you there as well. Six one two four four one two four four one get in line for your complimentary retirement readiness
review. Absolutely no obligation to work with the folks at Haven. But I think once you go in and have some coffee, have a cookie, and sit down and talk with Larry and his team, you're going to see people that really do care about you and your future. Again, the number is six one two four four one two four one. Well, I mentioned it at the top of the show here. Peak sixty five is coming next year. What is that? Well, twenty twenty four is going to see a
record number of Americans turning age sixty five is what that means? All those people will hit FRA or full retirement age at pretty much the same time. We're talking about twelve thousand people every day next year, Larry every Now, that's a huge number. What kind of impact do you think that's going to have on Social Security and Medicare and you know, the whole medical system in
general. Really well, you know, it has been about ten thousand per day and then this is peaking out at twelve thousand to turn sixty five. That's just a lot of retirees and you know, the Social Security and Medicare is in the news all the time anyways due to the solvency and their financial situation, and we put twelve thousand a date and I don't see how it can get any better. So in our planning process, we want people to
understand that not relying so much on Social Security is important. You know, much of what we talk about is okay, you retire, Now where does that income come from? You know, eventually social Security you'll turn it on, But what are your other streams? Do you do? You have pensions? Now, we have a lot of clients from Delta and some of the big companies here in the Twin Cities that do have pensions. But pensions have been declining for many, many years. So where is that income going to
come from? And I think of a couple that was in here from Bloomington this past week and they had set aside some moneys in order to guarantee certain amount of dollars per month for the rest of their life. You know, sometimes we'll talk about annuities and educate people. What I would say there is make sure you understand, and that's why we're big into education. What you're doing, why you're doing the costs to do it and the pros and cons.
Okay, look at both sides of it, because a lot of people they get into something thinking that it's the best thing since slice bread, and then all of a sudden they get in they go, well, this isn't exactly how I thought it worked. We want to avoid those mistakes, especially in retirement. So again, Medicare, we do classes on Medicare. How can I maximize the healthcare coverage that I have? So again, all part of our process, that part of the discussion. From that, we make
recommendations, and certainly we help lots of lots of people. Bill and we strongly encourage people to call in and you know what, just ask questions. We get to know you, you get to know us. It's laid back. We like that approach, and so do the people that we sit down with. Yeah, and look if you're if you're sitting there thinking to yourself, well, I don't want to share my information with people, or I'm
embarrassed because I don't know that I've saved enough. Not the issue. You need to have a plan, So just kind of buck up, shall we? Kids? Call Larry and his team at six one two four four one two four four one six one two four four one twenty four forty one.
Get on the calendar for your complimentary retirement readiness review and coming up here, We're gonna take a quick break, but when we get back, we're gonna talk about the results of a new survey on how much we expect to need in retirement and when to bring your kids into the conversation about your financial plans
now, not just later. That's on the way with the Haven Financial Group Radio Show on Twin Cities New Stalk eleven thirty and one oh three point five FF song coming up over New York City stool bus driver in a track, food chain, stepping the faces in a review room. Welcome back to the Haven Financial Group Radio Show with Haven Financial Groups Founder and CEO Larry called Big. I am bill seller and but I don't know, I'm about the beach
boys. Just makes you feel happy again, right back to a much simpler time in our world, right. Yeah. Of course, the surfing craze of the sixties kind of took over the world for a while, and people still go out and enjoy their surfing now, but apparently it's getting a little tough in Santa Cruz, California. Folks trying to surf out there, they're being bullied, Larry, it's a sad situation. They're being bullied by a
sea otter. People are posting videos showing how upset this apparently a female sea autter is because she keeps hoistering herself out of the ocean and onto the boards, and at times you can you can see her chewing on the surfboards or forcing surfers to surrender their board altogether. Only in California, I'm telling you know, you're absolutely right. Members of the US Fish and Wildlife Service blame the otter's odd behavior on possible hormone surges or maybe being fed by humans,
and so they're looking for more food. All I know is never once did I see this happen on Baywatch? You know, it's just crazy. Can you mentione? You're at their surfing and most people are worried about sharks. Right here comes a sea otter up on your surfboard. Wow, oh boy. So here's an interesting number. One point eight million dollars. That is the amount that Americans on average believe that they're going to need for retirement.
And while that's how much they think they'll need. A new Schwab online survey found that only thirty seven percent believe they're going to actually have that amount, So Larry, to me, it sounds as if a lot of people are expecting to fall short. And when I hear that, I guess I have a lot of questions, like, what are some options for workers who you know, say, still have ten years or so to go before retirement.
Is it possible to build up their retirement savings and head more confidently into retirement? Is that enough time? What do you what do you talk to folks
about when you hear this kind of discrepancy. Well, I'm really careful when I hear these statistics in these numbers, because you know, I think in this industry we've kind of did a disservice to people because, Okay, this survey says that one point eight million is that magical amount where it's going to get us through retirement, And I just don't see how that holds water for
some people. Yes, but you know, putting a number on it just isn't fair because we see folks that have you know, three four hundred thousand for retirement. They have pensions and plenty of Social Security and they're gonna be just fine. I still think they should have a plan, and a lot of the folks we sit down with certainly do and then they see the importance of it. But then we see folks that have five million investable and they're
going to run out of money. So putting an exact number I think is really difficult to do. Now, with that said, you know, we're big fan naturally of being disciplined. You know, you should be saving to all the fifteen percent of your paycheck, and for some people they are, but just boosting at one to three percent over time can make a very, very, very big different difference. I would hope people are taking advantage of maxing out those four one ks and for sure the match if you're blessed to
have an employer that's matching. And you know, in our conversations, we have the conversation about, well, what are some of these benchmarks that we would like to see people have for liquidity, you know, cash checking, savings, money market CDs, there's benchmarks we like to use. And then how much risk are you taking with the rest of your money's are you gambling with all of it? Do you have a good balance, which some people do and a lot of people don't know the answer to that. And then
having these conversations about forward thinking tax planning. Were big advocates of tax planning and again getting your taxes prepared but not missing opportunities like roth conversions or zero capital gains tax brackets. And we do know that the tax laws are going to sunset in twenty twenty five and go back to what they were and higher, and so again just you know, this auto enrollment that a lot of four one ks have gone to has really helped Americans save it really has.
I think Vanguard last month said that saw our record highs and four oh one K participation just last month. That's good news or in deferred comp type of program. So again it's helping, but we got a long way to go, we really do. Yeah, And of course the key there is to not forget about your four oh one K. No, that's true, a lot of folks do that as well. Yeah, we do lots of four when K rollovers, So don't forget where it's at and make sure you're making
good selections within your four o win k's. A lot of times people have very few options, so our team sits down and helps people with those decisions based upon their circumstances. But be disciplined. Start socking it away early. You hear people say that, and then they don't do it, and then all of a sudden retirement looms and oh, by the way, we got
a problem. And there's nothing to say. And we hear this. There's nothing to say that people can't work after they retire, whether it's part time work, you know, just to bring in a little bit of extra money. We have a lot of clients to do that. And do you have to work or have you planned accordingly ahead of times so you don't have to work? I wanted to be individuals decisions, not because your bank account is
getting so low. Yeah, trust me, as one who has a fewer years ahead of them than behind him, retirement gets here a lot faster than you want to admit. So having that plan in place early is a great idea. So, Larry, I read something the other day that kind of worried me a little bit. America's credit rating has been reduced from triple A to double A plus. And then the folks that Fitch went on to downgrade
Fannie Mae and Freddie Mack. The government sponsor companies that turn mortgages into investments, market watches saying no, that that downgrade actually might be good news or at least not bad news for investors or homeowners. And as I was reading this is I got to talk to Larry. How how does that work if somebody gets downgraded but it still could be good news. I'm not sure I understand. Well, I wish I understood a little bit better than you.
But I don't think it's going to affect very many people. I really don't. Now. We know mortgage rates have come up, you know it too close to six seven percent now, and you know that it's affected the real estate market. I will say, though, as it pertains to the folks that we sit down with and visit with, there's a common denominator here. And I know not everybody can do it with folks not having a mortgage in retirement. And I'll tell you I think that is a very very good goal
for people. I know not everybody can do it, but it should be a goal because it creates less stress, less overhead, less worry. And I know a lot of folks say that we're not I'm not going to retire until I don't have a mortgage. So everybody's different. But you know, if if you have some I was just talking to somebody that had one of these arms, these adjustable rate mortgages, and I'm like, oh, no, yeah, because what's that going to do when that resets? You know,
be careful. I don't think that this uh downgrade, which I don't fully understand because the economy has still been strong. I don't I don't quite get it. But you know what on the note of debt, you know, credit card jet is an all time high. Still be careful when it comes to those things. But the common people I don't think are really going
to be affected by this downgrade, at least I'm hoping that. Well yeah, but you know, when you kind of see that the whole country has been downgraded, is that an indication that the economy is weakening on a global scale? Could? You know? Could not? I mean not that we're the only country that's having that issue right now, right, I mean a lot of places are in the same boat that we're in with inflation and rising
costs and all that stuff. Oh for certain, for certain, you know, and of course outside factors that we have nothing to do with and well depends on who you're talked to her. We have nothing to do with.
But like the war and the war in the Ukraine. Uh, that's a huge effect because it's really funny that you don't know what you don't know until something like this happens, right, the war in Ukraine, at least to me, I never knew this is affecting the world's supply of grain, right, I didn't know they were such a big provider of grains around the world and the war is having a huge impact on that. Oh it is.
And then Russa's impeding the grain being shipped around around the world and to Africa, and you know, it's a serious deal and there's a lot of grain that comes from that area. Yeah, and so when things like that happen, that of course puts a strain on everybody. Food prices go up, and it's a it's a it's a big domino effect right all around the world,
all around the world. Well, that's why calling the Haven Financial Group setting up your complimentary retirement readiness review should be on your list of to do as soon as possible. Getting in there and having larrying his team take a look at the plan that you have to see if you are ready for times like this when inflation is through the roof, rising costs on everything. We've talked about groceries before. I'm not going down that road again because it's just
we've talked about it already. But you know, medical costs, interest rates on housing, all these things are going up, and you've got to know is your plan in place to help you deal with it better than if you didn't have a plan. Look, these factors are going to affect your money. The question is how much and how well are you prepared for it? So getting that complimentary retirement readiness review, that's what that meeting is all about.
With the folks at Haven Financial Group. The number again is six one two four four one twenty forty one six one two four four one two four four one doesn't take that long. Just to call right now and get on the calendar. You don't have to spend a lot of time. I know it's early, but we do have folks standing by waiting to take your call, So please do yourself that favor. Get in there and see the folks at Haven and if you want to find out more about them, check them
out online at Haven Financial Group dot com. After a quick break, we're gonna come back and talk about when is the right time to share your financial plan with your kids. Also why using a power of attorney can be so frustrating If you win the lottery two, well what should you do? We've talked Larry about that as well. Talk coming up here on the Haven Financial Group Radio Show on Twin Cities News Talk eleven thirty and one oh three point
five FM. I this hire Fleeting Text, Joe down the hair, fol Jack and Jailer UK charpla at rebo t invest a little time to be sure your investments are working for you. Reach out to the Haven Financial Group now for your complimentary 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. Doctor Doctor, Get in the Newtons, I got it BACKCAG love you Bacas. Welcome back to the HAYVN Financial Group Radio Show along with Hayven Financial Groups founder and CEO Larry Colby and Bill Seller. So, so, Larry, let me paint this picture for you. Imagine you've injured yourself. Let's say you're on a skateboard and you have a pretty bad accident and you go to see the doctor,
right, okay with me? Soart Okay, Well, so you're in the emergency room and you're able to peek around the corner and see what's going on, and there you see the doctor watching a YouTube video apparently learning how to wrap an ankle. How would that make you feel concerned? Well, this, this is actually a true story. It Uh. This guy posted a video about all this and said he wasn't worried. He just thought it
was funny. But yeah, this guy was in the emergency room waiting to get his ankle looked at and saw his doctor watching a video on how to wrap an ankle. The videos had like a million and a half views. He said he wasn't concerned, but he just thought it was funny. I'm just glad he went there for some brain issues exactly. That'd be a whole different story. Oh well, there you go. So we got we got attacking sea honors and doctors learning on the job. Oh yeah, Oh my
is right. So, you know, we talk about estate planning a lot on this show, which, of course, you know, lays out a plan for how you want your finances handled when you're gone. But the question is do your adult children know how to handle them while you're alive If you're
not able to do it for yourself. Well, Arp recommends introducing your kids to your team of advisors, especially the ones that will be involved with your estate right, because if you've got a bunch of kids, you probably you probably have a couple more you trust to handle that than some of the others. Is there a point, Larry, where you actually asked to have them bring their kids in to make sure they understand what's happening. There are probably
times where that does come into play. If we notice that, you know, there might be a little bit of Alzheimer's dementia, if there's some concerns that we may request, Hey, you bring your kids in. Let's let's talk these things through. Now. I'm very careful with this because you know, anytime you bring loved ones or kids in, some are more qualified to
do it than others. You know, you bring money into the situation, and then all of a sudden you know people handle that differently, So you know, with some you're gonna want to set up a durable power of attorney for your financial and you might have one kid the kids that are better financially
than others. And then for medical records and healthcare and living will you may have some kids or loved ones in the family that are in the healthcare business that might make better decisions as it relates to you if you get put in that situation. Now, if you don't have these things done, then you put and something happens, then the government comes in in the state, and
that's called guardianship conservators ship. That's so that's why we think it's so important to have your living documents the ones I just mentioned while you're alive, and by the way, there's no automatics for spouses, and then the state planning documents for when you're gone. Now, there's some things that that we're in this arts list of things that you know that kids should know. I'd be cautious with some of them, but you know, sharing password access, give
access to key documents. I do think that whoever you've appointed as your lawful attorney, in fact, they should have copies and they should be at your clinic and with your doctor and explain how you pay your bills, and you know, just so they just so the family and kids know what's going on, and you know, one of them is set up a fraud alert. We've seen retirees or as people age make some decisions. I can think of two clients just this year that got scammed with some scammers that were very very
very good and unfortunately they got some funds from our clients. So you know the audacity of those people. I'm jumping in here because I know I know about that. They got a really good friend of my mother's as well. But they these people to do that and just take stuff that isn't there. Oh, I just completely understand. No, so we encouraged to give them too. We never discourage it. It's just we want to be a little
cautious. You know. We got to certainly bring privacy into it. But you know, we love for our team to meet your kids and loved ones. And actually I was just thinking a couple of weeks ago, Kennon Nancy actually from I think I think they're Farmington. They put they got all their legal stuff done, they brought in all of their kids, and in this case the kids spouses as well. I was kind of surprised and our state planning attorney, we were all here. We brought in some lunch and we
went through everything. So they wanted to include the kids and loved ones in this conversation and it was a great time. That wouldn't be effective for everybody. But one of the concerns was that, you know, dementia ran in the family, and they don't want to wait till it's too late. You want to be proactive, that's for sure. So again, every family is
different, all the kids can be different. But getting your ducks in a row and dot in the eyes and crossing the tees absolutely, And like Larry said that, there's a list out there from ARP, and you should be the judge of what you know what things on those lists you really want to do, are allowed to happen because you know your kids better than ARP does.
But I just wanted to clear up one thing you said there, Larry, if if none of this gets done, so you're saying it's a bad thing if the state or the government comes in because they run things so well, I'm shocked that you would say that. I know it's just the audacity of me putting it that way. Well, let me put it this way. Guardianship means the state is now your parent. Yeah, Conservatorship means the state now has your checkbook, so your parent and they have your money.
Well, I would think most people would want that to be in the hands of their loved one, their spouse, their kids, whomever. And sometimes I get a kick out of people that say, well, I don't know who to appoint, Well, appoint somebody because you win to point the state right, Oh yeah, good point. You can always change these things and make changes to them if something happens or one of the kids is acting up or that type of thing. So you want to be proactive because if once
you need them, you better have them. And unfortunately a lot of people do not have them. And you know, we do the best to practice what we preach. You know. Rochelle and I have four daughters, and three of them are adult girls. They're adults. The other one is soon
to be an adult. I just had their durable powers of attorney for financial, medical records and healthcare, just redone because they are adults, and if something happens, God forbid, I don't want to have to run to try to take care of them and only to have to go to court to get permission. So we want to avoid these things. We want to you know, within families, we want to communicate. Again, I just say that
every family is different. No family is going to maybe do exactly the same thing, but there's certainly good reasons to make sure that the kids are aware of what's going on. Right, And if you've listened to us before, you've heard me tell the story that you know. I'm an only child and when my parents passed away, my mother had done a lot of just this.
We never got into a conversation about it because I was kind of a stubborn dunce who didn't want to talk about that kind of thing because you don't want to talk about that kind of thing. But when she passed, she had left me a list of the ten things I needed to do to make sure that her affairs were taken care of. Because she passed after my dad
did. That was very beneficial to me. So even if you don't involve the kids now, I would suggest maybe even doing something like that with the folks that have in financial group to make sure you know what the list is and you know all the things that your kids will need to know about your accounts and that kind of thing. But you know, I've I've referred to
it before, Larry, and we've talked about it too. The unfortunate thing is when folks pass on, when your parents pass on, you're left with what I call, for lack of a better phrase, the business of death right. You have to take care of business, you have to take care of closing out accounts, and again, just being prepared, having that plan, it's just such a key thing to do. Yeah, I mean, if you are listening and you are power of attorney for mom, dad,
or loved one or somebody, you know. A couple of things that I'd add to is make sure you keep meticulous records. And by getting proper record keeping, it can prevent misunderstandings and disputes, especially after one's gone, maybe having some regular meetings to prevent potential conflicts. And by the way, a lot of times people put these documents, these estate planning legal documents in a safety deposit back. I don't recommend that we want it more accessible in a
place that's accessible. We don't we don't want this to happen. Man, we can't find the documents anywhere, and we can't get into the safety deposit box. Make copies for those that you've named your bank possibly should have on file, your financial advisor, whoever you're working with, of course, your attorney that you work with. And again understand these powers of attorney and the
limitations. Not all states are the same. And again, as I mentioned, be pro active, not reactive, because by the time you need them, you better have them and you better know where they're at. Absolutely absolutely. And so if you need help getting this kind of thing set up and you want to talk more about it with Larry and his team, call them as soon as you can at six one two four four one two four four
one six one two four four one twenty four forty one. That's how you reach out to the folks at Haven Financial Group or again you can find them online at Haven Financial Group dot com. Coming up, we're gonna talk about how to manage a windfall after this break plush Larry pickle balls back in the news and people aren't happy. Oh, poor pickle Ball. We're gonna talk
about that too. That's coming up here on the Haven Financial Group Radio show on Twin Cities News Stock eleven thirty and one oh three point five FM. Yea that small town he took. Yeah, well, this is the Haven Financial Group radio show. I'm Bill Seller Law with Haven's founder and CEO Larry Calvigan. If you listen to us for a while, you've heard us talk a lot about pickle ball, right, I mean, it's both something that we want to play. I played for a little bit on the last cruise
I was on. I think, yeah, that's where it was. But it's a fun game. You haven't played it yet, but you said your brother, your brother in law put a court in his house. My brother in law has an outdoor court that he just finished. It's it's all professional style, it's lit, and it's being played non stop. I have not played it yet, but man, it's getting used all the time. So well, it's so popular. I got a lot of clients that played pickleball.
Apparently it's irritating the tennis crowd. Yeah, those poor guys. A lot of people who played tennis hate the noise of the pickle ball. Padel hitting a plastic ball and there was a couple in Chilliwack, Canada decided to channel their inner Gandhi and one on a hunger strike because they were living next door to a pickleball area and didn't like the noise. But as you can imagine, they received a whole lot of mocking and apparently got hungry really quick
because it was over in less than two days. So but you know, come on, really, a hunger strike over a pickle ball noise? Is that where we are? What next? I don't even want to know. I don't know that I can take it. I don't know I can take it. Oh well, listen, just before the break, we were going to talk about what happens when you hit the big lottery. I'd love to
know. I haven't found out yet. But every time a lottery jackpot reaches some outrageous amount of what we've had a couple now at the billion point, right, we all started thinking about what we do with all that money. Our chances of winning mega millions is incredibly small. It isn't that the funny thing? Larry like, I don't buy a lottery tickets very often, and then when it does get a that huge number, my wife is like,
let's go get some tickets. I'm like, what we wait till everybody's playing, so our odds are even worse, you know, But that's exactly what we do. But too, Bill, what you just described as what we do, I'm thinking, I don't play when there's hardly anybody out there, right, I'm gonna wait till everybody plays. But anyway, the chance of winning is very small. But it is possible that we might come into a windfall of some kind, like that guy in California one ticket a billion dollars.
What are some of the biggest mistakes people make when they do suddenly come into a pilot cash Larry, Well, first of all, I'd like to try to win, but I can barely ever get one number, So I don't know if there's a lot of optimism on my end. Well, you know, first of all, not a lot of people know what you know, they're clear what they're clear understanding of financial priorities. Maybe maybe they haven't been presented with it, haven't had to worry about it. Maybe they just
haven't had that, they've had a lack of funds to begin with. But you know, the first is do you take a lump sum or do you take payments over thirty years? Those are your options. You know if the lump sum, the argument can be made, take the lump sum and you can you can make more than than taking the payments. But payments will give you a systematic thirty annual payments that might be effective. And you want to
figure out that the tax situation. Probably a good idea good advice. Uh. First of all, when your listeners or high or you win, is
hire a financial professional. Good reasons for that, somebody that has experience with some level of wealth at least and probably coordinate that too, with a good CPA, maybe a tax and an estate planning attorney to go with that, to help navigate taxes and certain things that you can do, and working with somebody that you know knows the tax code and what you can do effectively.
The problem is, you know, this hits like a whirlwind for those A lot of times, I don't know what the you know, I've seen different studies of how many people's lives have been ruined by winning, which which is shocking. But people get over their heads. They buy the expensive homes or cars or whatever it may be, and then all of a sudden people, you know, what they don't understand is you'd buy a bigger home that takes more, furniture can that takes you know, the costs of maintaining all these
different things, and you know they get over their head. And so my recommendation would be for most people take a deep breath, probably come up with some sort of concise elevator speech, if you will, to give to the people who will come out of the woodworks who inevitably want your financial help, because it seems like that is always going to happen again. I'd like to try. But you know, suddenly becoming a multi millionaire can quickly become problematic
for individuals who have not clearly to define their goals and values. And that's whether small medium at large. In our day to day practice, you know, we encourage folks, what are your goals, what are your objectives? What do you want to do? What are you trying to accomplish? And so it doesn't apply just for whoever wins this lottery, but it applies to
your retirement. Are you doing with what's consistent with your goals and objectives at this stage or are you still doing what you were doing when you were twenty thirty and forty. Retirement is a different season of life and requires some different decisions than you made back then, and that's all part of the process of
what we help people navigate through as they get older. Yeah and yeah, Actually, I think the first thing I would do is find out if there's a form I can sign where people don't get to know my name after I win. That is true privacy. Yeah, and I know there's some states where when you buy the tickets, you're saying you know you're willing to be
a part of publicity if you read the back of the ticket. But there are also some states that allow you to sign something where you can keep yourself private because you're right, the minute you win that kind of money, everybody in the world is going to want a piece of it. And yeah, it sounded to me, Larry like you were talking about the things that you do and have a financial group could help somebody who wins the lottery. So I think calling them today at six point two four four one two four four
one could be a good idea. Or you know what, Jot the number down and keep it with you for when you strike it rich on the lottery six one two four four one twenty four forty one. Larry's got folks in his office. He can handle all those things he was talking about, tax experts, estate planning experts, medical health experts, right, the medicare folks, a lot of those things that we don't really understand how they work.
When we get the retirement folks that have in financial group can help explain it to you a little bit better. So six one, two, four, four one twenty four forty one, get on the calendar for your complimentary retirement, reading this review before it's too later, as we say, before it's lights out. You know, we have fun with it. We're having fun with this as far as the powerball winner and hitting it, you know, the big jackpot and all that. But just you know, for us common
folk, for those regular people. You know, sometimes people put their head in the sand and well I don't have very much, so I'm embarrassed. And you know this, this message is for everybody. You know, small meetum with large, a lot little somewhere in between, you know, getting a plan, having a plan, sticking to the plan, and then coordinating with all the other different retirement puzzle pieces that you and I talk about on a weekly basis. Every it's different for everybody, but again, never be
timid or embarrassed. Oh, I don't know what questions to ask through our conversations. They'll be questions, and our job description is to answer these questions and to develop long term relationships and help the people. Yep, and again you get that started by calling six one two four four one two four four one. Before we get out of here, time for one more sad story, Larry passing of an era. It's about to be lights out for incandescent
light bulbs, the ones we grew up with. Manufacturers were told to stop making them back in January. Retailers are told to stop selling them. The world is going to LED. Now. You're still gonna be able to buy those specialty bulbs for your fridge and ovens and those kinds of things. But it's been coming for a few years, but kind of quietly. Right, we've seen go to home depot or whatever a loows and you see both on the shelf and you can still choose, but slowly but surely, the LED
is taking over. Changing of the times, Bill, Yeah, yeah. Fluorescent bulbs are next to be banned by the end of twenty twenty four. That I don't mind because it just makes fluorescent light washes me out. It makes me look terrible, So oh we can't have that. Yeah, yeah, yeah, that's why I look terrible. But yeah, I just wanted
to just wanted to give your heads up. Those bulbs are going away, and I know that you guys have a bunch of fluorescent in your office, which is why you know when I'm in there, I look so the way I do. Larry, it's just can we I'm just trying to convince you that's why I look that way. Yeah, they're changing over. We're gonna be doing some construction adding on to our office for the third time here in our nine year stint we've been in this office and we're gonna be replacing them
all with all D lights. So that's the sign of the times. Yeah it is, Yeah, it is. Well, listen, we're gonna get out of here. We do hope that you learn something and that you're able to take a lot of what Larry says to heart, because I'm telling you, if you get to retirement and you don't have that plan in place, you're going to be kicking yourself when you think back to the fact that you heard about it on a Sunday morning with Larry Calvig and Haven Financial Group.
So again their number is six one two four four one twenty four forty one. That complimentary retirement readiness review will get you in the door. It's a chance to sit down meet with Larry and his team, and that first meeting is just to get to know you, kind of thing to see if you guys are gonna vibe together or not. And if you do well, then you're gonna have a great group of folks on your side helping you get ready for retirement, right Larry, most definitely the number one compliment we get.
And again we take a very laid back approach and I love when people say, it's just so great to come here. It feels so good. And you have multiple personalities in all these different retirement areas that we can bounce things off too. You're not committed or obligated to any or all of us, but it's all available. It's all a resource, and that was the intention.
It's just taking some time to get there, but again no cost, a lot of fun, good cup of coffee and by the way, fresh cookies as well every day, So you got that going for you when you
go in for your complimentary retirement reading this review again. If you know, going into retirement without a plan is kind of like heading out on a trip without GPS or a map, right, if you don't have direction, if you don't have things in place to make sure you can get from point A to point B. And in retirement, that point A starts when you walk out of the office for the last time, and point B is getting you to the end of your golden years of retirement. And that's what Larry and
his team do with Haven Financial Groups. So once again, give him a call six one two four four one two four four one. Larry, I gotta go climb back into my big rig and track down Taylor Swift for my bonus and we'll talk again next week. My friend, all right, tell her, I said, Hi, Yeah, I'll do that. Thanks. Thank you for listening to the Haven Financial Group radio show here on Twin Cities News Talk eleven thirty and one oh three point five. That's bad Stared.
Where investment advisory services offered through Guardian Wealth Strategies LLC, Haven Financial Group and Guardian Wealth Strategies LLC are not affiliated companies. Investments involve risk, and, unless otherwise stated, are not guaranteed Please consult with a qualified financial advisor and or tax professional before implementing any strategy discussed herein, and comments regarding safe and secure investments and guaranteed income streams only refer to fixed insurance products. They do
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