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 as always, we thank you for listening and being here with us. This morning help Ball is going well so far on your early Sunday. I am bill seller along with Haven Financial Groups founder and CEO, chief cook and bottle washer. He does it all friends. Here's a Larry Colbig.
How are you, Larry Hey, Good morning, Bale. Great to be with you, Yes, sir, Always a pleasure, always the pleasures, my dad would say, it's just always good to be awake. So here we are getting ready again to talk about retirement, how to get through it, how to get to it, and all the good things that go along with that. We got a lot of stuff coming up on the show.
Today we're gonna talk about a major shift in the trucking game. Yes, some stuff went down, and we're gonna talk about who wins and who loses with that. Also the best time to buy your ticket if you could plan on flying over the holidays. And the staggering amount of credit card debt. I mean, Larry mentioned that. We talked about this almost weekly, but the numbers are out, new numbers, and man it is We're in deep. That's what I'm gonna say. We're in deep and it's not looking
pretty. Not looking pretty. But Larry, we're gonna talk about that a little bit as well. But I did want to warn you if you own a business, if you are a boss, if you are a manager, watch out. It's coming up here. The sickest day of the year is coming up on August twenty fourth. A software design firm called Flamingo did some calculations based on five years of company absences. They use leave track tracking software. Apparently more people call in sick on August twenty fourth than any other day
of the year. I don't know why. There was no explanation. Pout a third of the folks actually called it, and the rest just kind of I guess are a little more scared and just send them a message or an email to their boss. But just lay you're running shop over there. I just want to let you know on the twenty fourth, let me know how many people decide not to be there that day, August twenty fourth. That
seems like an interesting day. I wonder where it is. I don't know, you know, I've always thought it was funny too when I had I used to work with people that would get sick on a Friday or a Monday. Like, really, guys, can you know that's that's a little obvious, right, especially the friday of a three day weekend. I mean, come on, who are we getting here? Right exactly? But yeah, so I know you run your own shop there. I'm just trying to give
your heads up, buddy. I'm on the lookout. All right, it's twenty fourth, there you go. Let's just let's see if they try it. It's out of Thursday. Yes we will. We will talk next week, say find out out. So as we start today, this is something we talk about a lot. We talk about credit card debt in this country, and we've first found out if you put all the credit card balances in this country into one big pile. It would be bigger than Mount Everest.
This is an amazing number to me, Larry. Credit card debt just topped one trillion dollars. That's a one, followed by twelve zeros. That's a million million. Right, that's a lot of debt. It's about twelve percent higher than just last year. And we talk about that, right because folks are kind of fighting inflation, a lot of folks are charging more things, and with that, the new interest rate is now over twenty percent. I
mean, this is a stunning number, is it. Is it ever a good idea, Larry, to just go ahead and get money out of your retirement account to pay off those bills? Or is there too much involved with taxes on what you withdraw? It gets kind of complicated, right, Well, it can get implicated. You know, everything's driven by taxes. But you know, we've talked almost weekly that credit card debt is through the roof.
You know, I see a lot of the credit card percentages. You said twenty percent, but you know twenty three, twenty four percent on that on that debt, and that debt can be devastating for retirement, which, of course we talk about weekly, so you know, don't fall into that. You know a lot of times, you know, people have a lot
of credit card debt. They're embarrassed. And you know, I think of a couple, John and Lourie. He was in a retired electrician and she was a teacher from mem for Growth Heights and it's a couple of years ago now, and they had like thirty thousand dollars in credit card debt that in all our discussions, they never even brought it up. But finally, you know, they go, you know, we gotta tell you this is weighing
on us, which why went it? They had one hundred thousand savings and they're paying way high percent interest on credit card and it's like they just needed somebody to initiate and tell them, guys, this doesn't make sense. We need to do something. And if there's been many stories over the years, and not just credit card debt, you know auto loans right now who have
gone up to six seven percent, significantly higher than what they were. But as you mentioned in the question, you know, where do we draw from. It's going to be driven by what's the tax ramifications? If you take money out of those iras. First of all, you better be old enough so you don't get any penalties because that would defeat the purpose. Are you
in the twelve percent brackets? So again, having these tax discussions as it relates to really any income needs or debt needs, and you know what should I paid off? Should I not? We want to be involved in these conversations so you know, people have a sense of why it makes sense and why it doesn't. But again, consumer debt increased by what seventeen point nine billion from May, just from May to June. Be very careful, be
very careful. It's already get out of the whole. Yeah. And you know, the one thing that always kind of drove drove me crazy, and I think about young people, right, kids getting started, And maybe it seems that a lot of the younger folks today have a better sense about planning for the future financially. But what always made me nuts was that you you
had to have a credit card to get a good credit score. Right, I mean, it can't just count that you've paid your phone bill on time, you pay your rent on time, you pay right, you're not laid on any of your bills. That's not good enough. You've got to have a credit card to get a credit score. That always amazed me, right, I mean it's like, come on, if I have no debt and I'm paying stuff on time, doesn't that count. Right, there's good credit
and there's bad credit. Get rid of the bad credit. It'll weigh you down in retirement. Use the good credit. I mean that can that can increase your self worth or some of that. But again, we got high rates right now, and you just don't want to get into that position. No, you don't know, you don't speaking of that. A lot of analysts a're saying that the economy is actually coming to a soft landing from a nine percent high last year last year a high of nine percent inflation. However,
UVA economist doctor Robert Burrowne doesn't think. So. He's writing in Forbes magazine and he sees a recession coming, and he's got a mound of data that agrees with him. Larry, Now, I sent you this list ahead of time, and I know you're looking at it here. Do you do you agree with what he's saying on these these topics here? Do you think this is a problem that we're staring at? I think it is a potential problem. You know, the employment growth numbers are weaker than they expected,
Inflation is still persistent. It's come down, of course, but at these last two percent from four to three to the target of two percent, that's going to be really, really, really tricky and really difficult. And then we got our credit downgraded. Some would say that isn't a big deal, but others would say, well, it's a step in their own direction. I don't even want to get into our US debt problem because nobody seems to want to talk about that, and you know, it's just unsustainable, the
debt, the debt situation. I always joke, if you really want to depress yourself, you know, go to US Debt clock dot org and you'll it'll be very humbling, real quick. And then they declare the mortgage apps. So all of these are indicators, and you know, all of this can be really doom and gloom if you if you let it. But it's why we encourage folks, especially as they're planning for retirement. You know, coming back to the plan. You know, a failure to plan is a
plan to fail. Or more importantly, if you don't have a plan, you just don't have any direction and in retirement you want to be head in the right direction. It's it's why our name is a Haven Financial Group, a safe haven, and we as you know, we have a nautical theme because if you get a degree off in either direction in retirement, you might
end up in the wrong spot. So, you know, having a good balance between liquidity safe investments, if you will, and then managing your risk you can alleviate some of these pains that come with all of these potential negative things that have to do with the economy. And and then we already talked about managing debt. And you know, you know, we want to be optimistic, but we want to be realistic at the same time. And it doesn't do any good for people to bury their head in the sand. And
it's just I'm just not gonna I'm just not gonna talk about it. And that doesn't go well either. No, and look, there's we've talked about that before as well. Right, there's reasons people don't want to talk about as some folks, like you said, are embarrassed that they haven't saved enough, or have too much on their credit cards, or some people just aren't comfortable. But it comes down to the fact that you need to have a
plan, you know all these things. Larry was just talking about the concerns that are out there, and you mentioned the decline in mortgage applications, while that gets right back to higher interest rates, right and houses I know right now are sitting a lot longer than they have been since the frenzy of a year or so ago. These are all outside factors that you weren't counting on
when you're putting all that money away for retirement. So having a plan in place to make sure that these outside factors are not hurting your account more than they can, that's what Larry and his team at Haveing Financial Group do for you. That complimentary retirement readiness review is just a phone call away. Six one two four four one two four four one six one two four four one
twenty forty one is the number. Again, it's a complimentary review. You go in, you sit down, you meet with Larry and his team. They kind of take a look at the plan you have in place, let you know if it's really going to do what you're hoping it's going to do in retirement. And if they say yes, you're looking good. You've had a great cup of coffee and a nice time meeting some new friends. And if they say no, but we can get you going in the right direction.
Penn, You've had a nice cup of coffee and made friends you're going to see again. So really, what's it going to hurt to make that call? Six one two four four one twenty forty one. That is the number we're gonna answer the phone too. We're gonna answer the phone right now. You're not committed or obligated, but again it's a laid back approach. We have a discipline, proprietary process. You know, we want to understand what your goals, your aspirations, your objectives, your worries, your concerns,
and we do a discovery. We take a lot of notes and we'll develop a strategy if we get to that point, and then implementation and make I'm sure we're monitoring and adjusting it as life happens. Because life doesn't stand still, it doesn't stay the same, and retirement doesn't as well, So we want to make sure that we continue to have conversations about where things are at. Again, nothing to lose only to gain, absolutely, Six one two four four one two four four one is the number coming up. Here,
we're gonna talk about what happened to the Yellow Trucking Company. Yeah, biggest job loss US since twenty twenty. Yellow maybe out, but Gold is in and we're gonna talk about that as well. That and a whole bunch more coming up right here on the Haven Financial Group Radio Show on twin Cities New Stock eleven thirty and one oh three point five fl. I hear the Jones a go to night but she is new whiskers of some quite conversation show.
She's coming in in twelve thirty Flight the All Night Ways. We reflect the stars that guide me to it. Welcome back to the Haven Financial Group Radio Show with Haven Financial Groups Founder and CEO Larry Calvigay and Bill Seller. And we were just talking off the air man just about how hot it's been, right Larry, Oh, everywhere, everywhere, everywhere, heat records across the country. A lot of prices are still high, and it's leading some
folks in some areas to have to protect stuff at their grocery stores. I don't know if you saw this story or not, but this is kind of weird. It seems a lot of grocery stores are having to lock up pints of ice cream. People are stealing them, actually stealing them. These grocery stores have actually installed locks that make it impossible to open the ice cream. Not something I would have thought would happen, But no kidding, stealing ice cream. I don't know if it's like a low jack for the top of
the pint or what. Unless sure how it works. But you know, we're used to seeing locks on expensive things. But you know, a pint of ice cream. Holy cow. So I mentioned it before the break. One of America's largest truck lines is gone, just like that. Yellow was a five billion dollar company. Now it's bankrupt after a dispute with the teamsters. And on top of that, taxpayers gave Yellow a seven hundred million dollars
loan during COVID. You always say we don't have a crystal ball. Pretty sure, I don't need one here to think that we're never seeing that money again. Never, In no way, don't believe the government's getting that money back, Larry, When somebody like this happens, What are the ripple effects when a company goes under like this and somefty jobs are lost? Right? Well, first of all, anything is possible. You know, no company's
too big to fail unfortunately, you know it. I recall you know this, and that reminds me of Layman Brothers and in Run and other situations where this could never happen until what something happens. And that's why we encourage people to be alert on what's going on, you know, as it relates to our clientele and those that we visit with. You know, balance and diversification.
Don't be too reliant on one company, you know. I think of a couple that was in last week and they had seventy percent of their retirement in Polaris stock. Now, Polaris is a great company. We have a players side by side on the farm. But seventy percent of one company in your portfolio makes up your whole retirement, that is, so that's reliant, way too reliant. So we want diversification. Efficiency. But you know,
a yellow freight you know there's good and bad, mostly bad. I think that comes out there's thirty thousand jobs lost, the freight prices are already rising. I will question how you know how safe their yellow pension plan is going to be. They say it's going to be fine, but it isn't always the case. But again it comes around to the planning stages. You know, you know, nothing can stay the same necessarily forever. So how are
you positioned? Do you have good liquidity? Do you have your ducks in a row, because uncertainty the good there's good times and there's bad times and everything. But as far as getting this money back, that's taxpayer dollars that are probably just gone, you know, just another unfortunate situation that lives were affected, families were affected, and they're all job hunting. Now, there's all kinds of jobs out there, but to get this kind of job that
they probably had probably isn't necessarily going to be the case. So again, make sure your plan accordingly, big plan for the unexpected. Well, and you know, a job's hit like that gets back to the story we had in the last part of the show right about the economists at UVA. It just adds to those numbers that he says he sees a recession coming. That's right. That kind of thing is not good news for anybody, even if you didn't work at Yellow Freights. So oh boy, well, we'll keep
our fingers crossed for those folks in their families. Absolutely absolutely. We talk about this all the time too. You know, inflation, interest rate hikes, market instability plenty right there, just to scare a lot of investors out of the markets. But you see this a lot when economy is like this too, don't you, Larry? Gold gold appears to be the thing. You see more commercials for gold on television. I hear them on the radio.
The folks that gallop did a poll and found that twenty four percent of Americans say gold is the best long term investment, so up eleven points from last year, which just proves it. As things tend to get worse, more people lean that way. The Wall Street Journal reports gold is especially popular with older investors. What's your take on precious metals as a good investment, Larry, Well, first of all, you know, we want to look at all the options. Yes, gold is hot, okay, the uncertainty
of the US dollar and everything going on. So you know, gold prices rose about eight percent this year to almost two thousand dollars an ounce, significantly high. You know, twenty percent of US investors have gold of some nature, whether bullion or coins. There's lots of concern there. I mean, we don't discourage it. There's pros and the cons to everything as it relates to precious metals. I say, you know, some of the positives that
go with it is you're no one else's liability. There's no paper control if you will, it's never going to go to zero. It's tangible. It's a tangible assets can't be hacked and it can't be erased, you know, which, you know, privacy and securities are big things. It's private and it's kind offidential and nobody knows unless you tell them. But then there's the idea of, you know, the liquidity factor, what are you gonna do
with it? The costs associated. There's commissions on this stuff, you know, you know, and I'm not against anybody making a living for sure, but there's commissions on gold. There's commissions on silver, on these bars and on these coins, and there's a lot of people don't know this gold is
in. This stuff is considered collectibles, and collectibles are tax differently. You know, if you have stock in the market, and you'd have capital gains tax and those brackets are zero fifteen and twenty, collectibles are taxed differently, taxed at twenty eight percent rather than on the gains rather than zero fifteen and twenty. So again, talk through of these things. I mean, is it you know, I had somebody in recently that like made their whole basement
as kind of a storage facility for these gold bars. And well, most people aren't going to want to do that. So the story is, you know, is one thing. But the biggest point in favor of investing in precious metals is you know, how well they hold their value against inflation. I get it, it's a hedge and then other market trends, if you will, compared to stocks and currency, which fluctuate, you know, can fluctuate on a dime. Gold is tangible and it's going to hold its value.
But how practical is it should you have all of your money in gold? I would say balanced approach, you know, just don't jump just because somebody says jump. Having it in your portfolio is perfectly fine. Just understand
the good and the bad that goes with it. Yeah. And it is interesting, right because even when things are going really well for us over the last fifteen years or so, when we'd see a little dip or I believe even during the last the recession of oh eight and what have you, man, you just see these gold guys coming out from everywhere right there, they're telling you this is the best way to deal with this all the time, and it makes it sound like that is the way you should go with all
of your money. But not a great idea. Yeah, and there are high commissions on it. Gold is portable. You can take it with you anywhere in the world and it's portable. And you know, another good thing is I mean, I'm not advocating for against, but it's an ideal ascid for your heirs because they can inherit them very very easily, quite differently than you know, your traditional investments. So again the pros and the cons talk through it. Does it make sense in your portfolio or does it not make
sense? But remember if they're advertising advertising, they're paid advocates and follow the dollar because they're getting paid somehow. Absolutely, if you've got these kind of questions, these are the things that the folks that they have in financial group can and help you figure out. Right, So when you give them a call at six one two four four one two four four one, if you've got questions about gold because you're seeing commercials and hearing commercials everywhere, well,
they can help you understand it better. Right, I had no idea that would have been taxed differently than other things until Larry just brought it up. So that's the kind of expertise that you get when you deal with the good folks at the Haven Financial Group. Again, the number is six one two
four four one twenty forty one. The complimentary Retirement Readiness Review. They're going to go over everything involved with your retirement puzzle right, taxes, healthcare, estate planning, all of these things that we have to do in order to make sure that we get through the retirement years. As Larry says, that you enjoy your gold in years. And I know that when folks come in Larry and they sit down with you and that first meeting happens, I know
it's just to get to know your meeting. But fortunately for them, you've got different people who deal with all of these different areas right there. Yeah, we do. We have multiple personalities. The goal was to always have that and thankfully it's come to fruition. Over the years. We have lanced our CPA, we have carry our state planning attorney, we have the investment
team, you know, all the different retirement puzzle pieces. Glenn who does medicare and healthcare, and we have access to all the companies, and you know, we're digging into the tax discussion, and all of these pieces are important. Investments are important. But we believe retirement is more than a pie chart. And I say this almost weekly, more than a pie chart that says I have stocks, bonds, and mutual funds. It's all the other
puzzle pieces. There should be coordination. And sometimes people do this over here, and do this over here and this over here, and none of the things are talking to each other. In fact, I think of a couple that was in just this past week. They were in. He retired from Abbott, did a great job managing his own investments, but now he's like, things are getting complicated. Social Security is going to be coming into the
mix. He's got a big pension, great problem to have, and then required minium distributions are coming down the pipe, and he's like, well, I got a major tax problem and I'm not really doing anything to plan for it. You know, these are the discussions that we're going to get into and give people a comfort level that hey, they're really listening there, they have our best interests in mine, they actually care. That's our goal. Six one two four four one two four four one. That's how you get
in touch with the folks at Haven Financial Group. Coming up after we take a quick break making the case for long term investing, also explaining and calculating the rule of seventy two. That is on the way as well, with Larry right here on the Haven Financial Group Radio Show on Twin Cities News Talk eleven thirty and one h three point five. Fol tell a lot a bit and stumbled to the kitchen, boo myself a cup of ambition and your own and stretch and try to come to line, jump in the shower and the
bloodstocks promb and add on the streets of traffic. Stuff that would biggest pumping back, that will big this fucking back. This is the Haven Financial Group Radio Show with Haven Financial Group's founder and CEO, Larry Calvic. I am bill seller, and uh we're headed towards fall. I believe we given know still nine hundred degrees everywhere. Uh fall is around the corner, which of course means pumpkin spice lattes and other pumpkin flavored stuff. This year, a
lot of seasonal treats are starting a little bit earlier. Larry, you know, seven eleven and Crispy Cream already selling pumpkin spice lattes. Wow, not my cup of tea? Yeah, pump pump again or coffee? Right, I mean, because after all, you know what goes better one hundred degree weather than a nice hot pumpkin flavored latte. According to The Guardian, sales of pumpkins spy products have increased about forty seven percent over the past five years.
A matter of fact, last year alone, as as a country, we spent more than two hundred and thirty six million dollars on pumpkin flavored grocery items. Oh my goodness. Yeah, see that could explain some of the problems we're having. That's a lot of retirement dollars right there, No kidding. I mean, look, I do enjoy the pumpkin spice latte. I'm not too proud to admit it, but they're a little high for me, so I treat myself to maybe one a season. But it makes it more
special that way too. That's right, right, It's like you don't take it for granted. It's like the old days, you knew Thanksgiving was coming because a Peanuts Thanksgiving was on TV. And that's the only time you got to see it, right, you didn't. You didn't have a VCR or any of that stuff. When we were kids. It was on once a year, and if you missed it, you missed it. But your new Thanksgiving was coming because there it was. So but I digress, I digress.
So we often hear that it is best to hold off on taking social security ben until age seventy. Of course we talk about this all the time. You know, doing that the monthly check would be higher. But could there be reasons to apply earlier? And how much would you actually gain or lose by doing that? Now, Larry, I'm not asking you to actually hold one of your world famous social security classes here, but but how do you advise your folks on this? Well, first of all, you know
that we teach a lot of social security and tax classes. You can go to Haven Financial Group dot com and see all the different classes we offer and where they're at and in what time at your local city centers or city halls or libraries, etc. It's a personal decision, but what we like people to do is get educated to make an educated decision. Because you're right, the earliest you can take it to sixty two, which sixty to seventy percent
take it that early. Yes, that that high full retirement age is when you get an unreduced amount you get back what you paid in that's based upon your birthday. That's called fra full retirement age. And then the latest you're gonna wait is seventy because it makes no sense to wait beyond that. Now, only one to two percent wait till seventy. So that tells me there's a lack of education now because we're trying to tell folks that they should everybody
should wait till seventy. There's a couple of prominent ones that are on TV that says everybody should wait till seventy. Well, that's just not the case. It's a personal decision. Now. Oftentimes, what we see for a married couple is the lighter bread winner, if you will, will turn it on earlier. The higher bread winner will wait as long as possible. But
that depends upon the situation. Their situation as far as income. If you're going to retire or if you retire early, where does the income come from? Do you need to take it, do you want to take it? Do you have to take it? You know a lot of times people don't know the break even is usually about ten to twelve years before the lions cross, whether you take it at sixty two or seventy, the break even about ten to twelve years. Where a lot of people get that wrong is they
forget the factor in the taxation piece of Social Security. And you know, let's face it, from sixty six to seventy that eight percent guaranteed growth plus the cost of living adjustment, which we've seen here in the last couple of years, it's not guaranteed. That's increased people's Social security amounts significantly. And then there's always the threat and their fear mongers out there that says they're going to take all of Social Security away from us. Well, the reality is
they've that's been a political football for many, many, many years. And I'm not going to say that Social Security Trust Fund does not have financial problems, because they do. But doing away with I think it would be a calamity. But be prepared for some changes that will be coming, because there has to be, because by twenty thirty three we run short of the amount
of money to pay out the Social Security It's a big decision. It's a big income stream for retired Americans. People should not take it lightly, and oftentimes people do take it lightly, even though if they the numbers, they would find out that it's one of the biggest line items in their portfolio. So education is where it starts. And also you kind of hope that you've done the right things where you're not solely relying on Social Security and retirement exactly
exactly. And then some people, if you're not full retermined age. You know, there's provisional income, there's income thresholds that if you make too much though withhold and then there's the tax piece with your current income, and then if you add Social Security. Sometimes it just doesn't make sense to turn it on. People get this idea that get this mindset that I'm just going to turn it on because that's what people do, and they don't think through the
ramifications of doing so. Again, shouldn't be a split decision, that should be an educated decision. Right And you know, now that we're talking numbers and we've got our math going on. Right now, let's talk about investing and Larry, I want to talk specifically about the rule of seventy two. Can you explain what that is and how it works. Yeah, the rule if seventy two is just a mindset to People have talked about years where we
take the number seventy two and divide it by your rate of return. The number you get is how many years it takes to double that money or double your investment. For example, double your money in ten years. Yeah, you'd have to have seven point two percent return on that money. So that's the rule of seventy two. Now, some would say, I don't know
statistics would say the SMP roughly gets ten percent a year. Be careful when you're applying certain numbers to things, because well, it doesn't go make ten percent every single year. And be careful for rules. You know, there's another rule that's a three percent or the four percent rule amount you take out every year. Everybody's situation is different, Okay, it isn't one glove fits
all. So when we talk about these rules, you know, makes they make it sound so simple, But you know, individually, where are you at in life right now? Are you five years from retirement? Are you in retirement? You know, what's your willingness for risk, what's your need to take risk? What's your ability to take risk? Are you what is your plan, Are you diversified, are you efficient in your portfolio or have you not stress tested your portfolio? Or maybe you're taking way more risk than
people than you think you are. That's what we see on a weekly basis, people coming in and going, well, we're really conservative, not that you have to be, and then we find they're doing the opposite of what they think they're doing. You know, I think of Ed who's a retired contractor, and Jan from retired secretary from Burnsville. They are great savers and we don't want any market risk whatsoever you have. They had a whole bunch
of market risk and they didn't even know it. And then you get the other person that says, I don't want any I don't want any money in the market at all. And that's fine. It's not for us to tell them what they should be doing. You should just have a good understanding of what you're doing. Because if you don't need to take risk and you're not willing, then why are you. And again it's understanding what you're doing,
awareness and understanding, not just having a blind eye to everything. And well, I just let them do what they think that what they're doing, well, you should be responsible for what you're doing and know what you're paying for what you're doing because you're paying somebody, hold them accountable. Yeah, and also, I imagine two it comes down to the amount of time that you have right your approach, this to this rule of seventy two or whatever it
is that you're choosing to invest or be at high risk low risk. A lot of that has to do with the amount of time that we have quote unquote left right during retirement, right, the element of time becomes that much more important because you have the accumulation years and then you have the preservations last distribution years, where the element of time isn't about accumulating, it's now you have to take it out. So a lot of the element of time is
the big factor. Yes, it is. And having folks to help you put that plan together so you understand all those things is why you want to call the Haven Financial Group. Their number is six one two four four one twenty four forty one again six one two four four one two four four one. So coming up here, we're gonna talk about when Warren Buffett is your
neighbor and the sweet spot for holiday airfare. It's on the way with the Haven Financial Group Radio Show here on Twin Cities News Talk eleven thirty and one oh three point five FM. Oh graz is what they think to find me? Hey gonna stop because they tell me, Zoe, 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. 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. 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. Faces listening, Thank you so much for listening this morning. This is the Haven Financial Group Radio Show with Haven Financial Groups Founder and
CEO Larry Calviig. I am bill seller and Larry, I don't know if you've heard about these are not You know there's companies out there that you can pay that will send a video message delivered by a celebrity of your choice, all kinds of messages, depending on how high and demand the celebrity is. You can pay anywhere from one dollar to you know, that's what you would charge for me, up to like two thousand dollars for some of the bigger
celebrities. But as with everything, that's starting as a good idea, right things, that sounds like a great idea, and we're gonna have people send happy messages. Well, I guess just because we are who we are, things took a turn and seems a lot of people are now using celebrities to to break up with their spouse or significant other. Okay, you know.
One of the companies that does this is called Cameo, and they said in the past three years they have received almost five thousand requests and include the word divorce, breakup, or it's over. You think the breakup would go better if the message came from I don't know, justin Timberlake or Denzel Washington or so many would Would that make it better? Would? Oh? People? You know, uh, here's the world's nuts. Well it is it is, and thanks to them, we get stories like this all the time.
Exactly so. So before the break, you know, we were talking about the rule of seventy two and hypothetically how to double your money and to be careful about all those formulas and all that. Well, this is a real world example of how one couple turned sixty seven thousand dollars into twenty five million. But they didn't do it alone. Now, according to Yah, who financed the Kripke's, trusted their savings to a very good friend to theirs.
He was their neighbor. You might have heard him. His name was Warren Buffett, who gave him a little bit of advice. Now, of course it didn't happen overnight. It took about thirty years. Would you say this is a story about compound interest or about trust? Larry? How about both? The power of compound and it's just is pretty amazing. It's why we encourage folks the younger you are started, even if it's a little bit, extremely important. And then being at the right place at the right time.
I mean, your neighbor was Warren Buffett. That has to fall in play too. And then it's having a discipline plan. You know, the commedy nominator of folks that we sit down with that have been successful planning for retirement is they have been disciplined. They started something, they continued to do it, you know, out of sight, out of mind. They've managed expenses, they've worked with somebody that potentially has helped them along the way make good
financial decisions or maybe good investments. And you know, we want to bring added value to what people are doing. And you know that's how we differentiate ourselves here a little bit. Yes, we're in the trust business. You have to be. There's a shade of gree in every industry. We're not going to go into those that have messed things up for people or took advantage because you know they're flat out crooks. But the reality is being disciplined,
having a plan, steaking to it. And then you know there's another comic denominator with a lot of these folks that are are fluent, is you know many of them are frugal. You know, they haven't given it all away. Again, they've managed expense as well. They didn't get themselves in a
major credit card debt or all that stuff. And again, a pretty great story even this couple, considering that you know they had done they had a modest inheritance, placing them well ahead of their peers, and then Warren is their neighbor and turn it into twenty five million dollars. That's a lot of zeros as well. They didn't do it alone, but great place, right, time, discipline, and the power of compound interest right. And of
course the earlier you start saving, the better off. The compound interesting works for you absolutely, you know. I remember when I was younger, in my twenties, my dad would preach to me about putting money away and getting ready for because it'll be here before you know it. And like most twenty three year olds, I was like, yeah, whatever, I got plenty
of time. But it's also very hard these days, right for a lot of folks when they're younger, Larry, with everything that's going on, just just trying to put food on the table right now, much less putting money away for your retirement. You know, if you're trying to get by in the world today and trying to save money, are there ways you can do
that? You think, well, you might have to give up some things, you know, at that clients there you go, or Starbucks that my daughters think that they have to go to every single day, why because that's part of the life. And you know, sometimes you got to give things up that are costing you over the course of a year or lifetime a ton
of money. I mean a lot of money. So let's face it, it's been tough these last several years with the pandemic and then people you know, retiring or losing jobs, and the inflation the last several years, and the pocketbook hurts. And I just read this week that you know, because it's been so hot, air conditioning bills or through the roof and some people can't pay them. And I mean, all this stuff adds up. I
certainly get it. But you've got to start somewhere to get somewhere. And we talk about you know, those planning for retirement and retirement if you're younger, and we're not limited in scope at Haven Financial Group, but starting a plan, even if it's one, two, three, four or five percent, and then trying to increase the savings every year, that's a good start.
It's a really good start. I understand four when K plans are being more people are utilizing now that they've had the auto enrollment initiative on four. When k's and you know, take advantage of that match if your employers matching all of these things lend itself to getting those totals, those values higher, higher than you might expect, because over time that can really really add up absolutely. And this is what the folks that Haven Financial Group do for.
They can help you plan for the future and they can look at the plane you have in place if you have one, and tell you what it is that you might be able to do better as you get closer to retirement. Set up your complimentary retirement readiness review today by calling six one two four four one two four four one again that number six one two four four one twenty four forty one. I know it's early. If you can't call right now, john it down, but do yourself a favor. Within the next day
or so, give the Haven Financial Group a call. It's going to be very beneficial to just find out where you are in the process as far as getting through retirement with all that money you've worked so hard for and put away for your future. Six one two four four one two four four one. It's crazy, isn't it? How fast the year is going by, Larry. The holidays are gonna get it here before we know it and if you if you plan to travel during that season, now could be the best time
to find like the lowest fairs out there. Travel site Hopper says that airfares are going to remain low for another month or so, then they start to go up by the end of October and November, and by that time it could just be close to pre pandemic prices. Do you fly out during the holidays, because I know you're a traveling guy. Do you do you guys
stay home more at that time of year or what do you do? We usually don't travel for the holidays, However, with the pandemic because families weren't getting together, we did travel over Thanksgiving to Cabo and we did travel over the holidays because of that. Now, uh yeah, the Calvic family loves their family trips. I put it off for years, as you know,
my wife and Rochelle and our four daughters. I put it off for years, and then we started at about seventy years ago, and we just cherished that time together because it's you know, the girls are getting older, they're all in college, and you know, we vacation is really the only time I relax, and so we just cherished that. But you know, you know a lot of our clientele they love to travel and they're getting back to it where they got interrupted a lot of them for over the pandemic. But
we buffer this. If you like to travel, there's costs associated. So we buffer this into people's portfolio projections and into their plan because it's part of their lifestyle. And hopefully you've planned accordingly, because if you don't have the funds, you might not be going on these trips. And you think of it this way, especially in the early years of retirement. You know, I think it was Tom Hagman as a motivational speaker. He's talks about the
go go years, those early years of retirement. Hey you still can walk, you still are mobile, you still can do it. You know, a plan maybe a little extra for those years, and then things slow down a little bit and maybe you don't go as much, and then the no go years where you're not going to go anywhere anymore but the recliner that's in
your living room. So you know, plan accordingly for these for these the things that you like to do. Maybe it's not travel, maybe it's you know, the country club, or maybe it's whatever you do because if you don't, you might not be able to do these things. And we want retirement. We love to see the golden years in the retirement years be as fruitful as they possibly can be because you worked all these years, now is the time to enjoy it. But it takes money. It takes money.
Yeah, that's a sad thing, right, it does. There's no getting out of it. It takes money and you have worked hard to put it away, so why not make sure it's going to be there for years six one two four four one two four four one Again, that's how you call the folks that having financial group, and you know Larry is talking about that. They build it into the plan. You're traveling, right, We talk
about that on the show as well. A lot a lot of folks have two lists in retirement, the half too and the want to and traveling is obviously on the want to list because that's not something you have to do, but it's sure it does make life a little better when you get to get away every now and then. And so if that's in your plans in the future, think about getting that complimentary retirement rating this review as soon as you can to make sure that that's part of the plan you have in place six
one two four four one two one. Well, Larry, as always, time flies by way too fast, my friend. I'm getting ready to head out of here, and it's too early for the pumpkin spice things, so I'm not gonna go do that yet, even though it's available on places, but it's too too hot. You know. I'm one of those guys. I'm a seasonal guy, like I don't even dig pasta in the summertime. Too hot for pasta that are cold weather stuff. So I completely agree.
And we don't want to talk about cold weather because here in Minnesota, before you know, it's yeah, well we don't. Yeah, we'll be wished it was hot exactly exactly. So, now that we've cleared up my dietary restrictions for everybody, we'll get together again next week. And thank you very much for hanging out with us. Look forward to it. Have a blessed week. This is the Haven Financial Group Radio Show on twin Cities New Stock
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