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, thank you for being here waking up with us this morning along with Haven Financial Groups founder and CEO, Larry call Big. I am Bill Seller, and we do appreciate you being here. Larry, how are you the Sunday morning doing? Good? Bill, Good morning,
good morning, good morning, good morning. I always excited to spend a little time with you on the weekend, my friend, and a lot of stuff to talk about here. I mean, first thing where we talk about is how hot it is. I mean it's just hot everywhere. Did you see, I know you were just on a nice cruise, a lovely cruise over in the Mediterranean. Did you see where what is a corfu grease. I guess people can't cruise there right now because of the fires. Yeah,
it's terrible that the fires in Canada, the fires over there. I mean literally, it is that hot around the world right now. I think I saw a video the other day with a guy who was in um I want to say it was in Rome and said it was a fifty degree celsius. I had looked that up. It's like one hundred and seven degrees. Wow, that's just crazy. Yeah, yeah, that's hot. So we're gonna talk a little bit about how that might affect your portfolio, believe it or
not. Also, speaking of heat, a hot streak for the doo and is your retirement plan really on track? The not so surprising results of a brand new survey that are out. So we're gonna we're gonna talk about all that stuff, and the things that we normally do is we do discuss retirement here on the show, you know, getting to retirement, getting through retirement, and the ways that Larry and his team at Haveing Financial Group can help you. So before we get there, though, just a word of warning.
If you're a Skittles fan like I am, and somebody tries to give you some yellow ones today. You might want to say, no, Larry, do you like skittles? I know you're a candy guy. Do you like Well? You know, yesterday was National Mustard Day, and in honor of that, French Is teamed up with Skittles and created a mustard flavored skittle. Now, yeah, you know, as far as mustard goes, I
just like it on my hot dogs and maybe a hamburger. No, please, no, So just be careful if anybody's trying to give you a yellow skittle today, it might taste like mustard and not at all what you were expecting. So I just wanted to warn you there. So what we're here for not only to give you great retirement advice, but life advice as well. So, you know, speaking of heat and the summertime, one of the things that you see a lot being done by retailers, people online,
heck anywhere. Really the old Christmas in July sale, right, they've been you know, folks have been celebrating it for decades with holiday music. I mean, Hallmark Channels runs Christmas movies now to try to cash in on people's need for it. This year, though, it seems that people are unusually festivalarity. According to the folks at Opt to Move, the number of people planning to increase their holiday gift giving budgets is two times higher than last year.
Half of gift buyers are planning to start their holiday shopping by the end of September beginning of October. I don't know how folks, you're doing this, considering you know, the cost of everything and inflation. Do you think it's just people need to do it to feel better and to be in a happier mood Christmas in the middle of summer. I just can't give a hands around that. And you know, the you know, I'm glad that people are the optimism is there, you know, but I mean consumer credit card
debt is at all time high. So when I see, you know, people getting excited about Christmas shopping despite the inflation and rising US you know, this study showed thirty five percent of consumers are planning to increase their holiday gifts spending, a significant increase from what it was now. That's great, but where does it come from. Have they factored it into their budget? You
know, if they if they're close to retirement. Um, does it really fit into the grand scheme of things I would hope so, but what we find is a lot of time as people are just you know, they're cooped up for so long. If everything was so expensive and they just want to get out and do some shopping. Perhaps that's what it is now. You know some of the study in this study what the critical things that's it's driven by price. Uh. People are you know, are loyal which is great.
I'm come from small town. I'm probably loyal to a fault. But you know, consumer confidence is much higher than it was. Brand loyalty is there, and you know, I thought it was interesting and I do seem a little bit more than I used to. As you know, the environmentally conscious uh consumer is looking to spend where you know, those places where they're actually looking at you know, vironment safety, esg type of investments, those
types of things. So you know, I don't know whether all the money is coming from I really don't, but more power to them as long as it's within the budget. As we're talking on a financial show on the weekend, right, very important, Right, And that's one of those things that Gosh, when you and I started doing the show a couple of years ago, we would talk about right, because you head into retirement, and the first question is always do I have enough to get through retirement? Right?
Right? That's question number one. And then I know that you and the folks should have us sit down with people and you, I don't know that you asked them to draw up two lists, but you go over the two basic lists in retirement, which are, you know, the have to have things, which is money for healthcare, right, paying the mortgage, the things that you need. And then there's the want to list the things you want to do with your money. You want to take vacations, you want
to buy stuff for the grandkids and all that. And I can imagine in times like this, man, it is very hard to balance those two lists because of the cost of everything, I mean everything, healthcare and toys, right, it has to Yeah, we want to cover the income for the things you need, like you mentioned healthcare, a roof over our heads,
you know, transportation, those are the needs. And then of course most people want to do something in retirement, perhaps you know, play more, golf, for travel more or you know, whatever it is you want to do. But all these things cost money. So again it's budgeting, you know, talking through Let's cover these and then let's cover the what you want to do. But unfortunately, if people are just charging, charging, charging,
I don't see how that's being effective. So we want to have a plan, a retirement plan in all the areas you and I talk about on a weekly basis, to make sure that we're in line with the element of time where we're at years remaining of working that can lead them to the golden years. So you just don't want to take it for granted, because you know the old adage time flies. Oh my goodness, now we're here, We've maybe should have done things a little bit differently. We're helping, we're
trying to avoid those pitfalls that unfortunately many people make. Yeah, and that's why it is really important. I would think to have some other folks taking a look at your retirement plan, right, And that's what the people at
Haven Financial Group do. Right. You can go in, you set up your complimentary retirement readiness review and they go over all these things with you, not just to make sure all your puzzle pieces are in place, but to make sure that your have too and you want two lists are going to be able to be covered as well. And you may be okay, and you might have to do some adjusting. But that's the benefit of having some people that know what's going on on the backside of your money helping you figure out
how to make sure you keep most of it during retirement. So here's what you do. You call six one two four four one two four four one. That's the number at Haven Financial Group six one two four four one twenty four forty one. Set up your complimentary retirement readiness review and no obligation visit with Larry and his team to take a look, get the plan you have, and then you just kind of take things from there and trust me, it's going to be time well spent six to one two four four one two
one. And uh, you know one of the things you were talking about is is you know, keeping a roof over our heads in retirement. Some people like to downsize, some people sell them by a mobile home and just travel. And right now, in luxury there is I mean, in real estate, there's a glut of luxury homes right not a whole lot of properties available among the ones that are expensive, but those in the top five percent
and are on the market really aren't getting interested buyers. The Wall Street JOURNALY is reporting that some of the richest addresses in the country have been just sitting on the market for months and months. Do you think that if you had a client that had one of these, would you suggest maybe renting it? Well, well, we want to look at all the options. You know, I've had held a real estate license for almost twenty years now, so
I know enough about real estate. But at the same time, you know, you have to it's according to what you're where you're currently at in life. I mean, if you have one of these luxury properties and you can afford to just sit out and wait it out, okay, fine, because there's pros and cons that come with everything. You know, renting, the the idea that somebody may not treat your property the way you want it to
be treated. Imagine that. And you know, so there's some challenges because some of these luxury properties, You're right, they're just sitting and sitting, and you know, from a buyer and a seller perspective, you know you're gonna you might have to do some creative financing, you know, contract for deed. If the owner is willing to do it, cash is king. If you can pay cash, well, then I have anything's negotiable and you know from the seller standpoint, you know, working just like an art industry
with somebody that has experience in these luxury properties. So you're not just wasting your time, but you're getting it staged properly and you're taking quality photos and the prices in line with where things are at. But you know, there's some challenges, especially with interest rates now pushing six seven percent, that people looking to to borrow the money from the mortgage companies. Uh, those payments just outline and that might not fit for a retirement either. So there's certainly
the challenges. I found it interesting that the three biggest cities that have the largest drops are New York City, Los Angeles, and Chicago. Imagine that. Go figure out how those three would be in the top three. I think we know why. But yeah, the real estate is, you know, a big asset that people hold on to, and you mentioned that. You know, we have clients I think of Ed and Jan from Lakeville who a couple of years ago they hit the peak of the market. They sold
their house. Now they got in, they got a motor home. They were going to travel the country. Unfortunately, gas prices got so high that that would a hurdle in their their plans as well. So let's just face it. Plans. You know, you have a plan, plans, change, you adapt, you modify, take advantage of the good markets and the
bad markets, and just plan accordingly. Absolutely absolutely, Well, listen, we got to take a quick break, but when we come back, we're going to talk about the tug of war between lowering inflation and arising profit margins. Also, well, we thought it was over, but the FED decided that it wasn't. We're going to talk about that and the one sector that seems to be slowing the Fed's inflation fight. The question is is that sector
a case of greed inflation? And we'll talk about that and more coming up on the Haven Financial Group Radio Show here on Twin Cities News Talk eleven thirty and one h three point five fl I hear the whiskers investing, the state planning taxes and more. Want your complimentary retirement readiness review? Call now at six one two four four one two four four one. That's six one two four four one two four four one or connect with us at Haven Financial Group
dot com. This is the Haven Financial Group Radio Show. What Name, What Name? Welcome back to the Haven Financial Group radio show with Haven Financial Groups Founder and CEO Larry Calvig. I'm Bill Seller, and what you know, Larry. I saw this and I thought, man, this is nuts. But then I thought about the times we're living in, and I'm sure somebody's willing to do it. Subway it's planning to give away free food and beverages for life to one lucky person. But here's a catch. It's kind
of a big one. In order to qualify for the giveaway, you have to be willing to legally change your first name to Subway. And I got to thinking, who's gonna do And then I realized, man, have you seen TikTok lately? This would be like the tamest thing that somebody could do. They'll pay for it too. They're gonna pay for your legal name change. It's about seven hundred and fifty dollars for those documents, and if you win, you'll have to show proof that your first name has legally been changed
the Subway in order to claim your prize. Now, look, I mean they're good, Sandwich isn't all that, but Subway Seller, I'm not sure. Well that might work. I don't know. Well, yeah, what do you do. I'm in the financial profession. My name is Subway called big oh great has such a ring to it, doesn't it sound like a picture from the nineteen twenties some baseball Oh man? Well, there you go.
So just when we thought things were getting a little better, the Federal Reserve has gone and raised its benchmark interest rate once again, Larry, and this is I mean, actually raising it to a place we haven't seen since early two thousand and one. There was no increase back in June, and we all got a little excited, right, But in late July the rate was hiked by a quarter of a percentage point. So here we go again
with the same question. Do you think rates have peaked since they are the highest now since two thousand and one, or do you figure more increases are coming? Well, that's the key question. Do I think they've peaked? Well, I think they're getting closer to the peak. Is that a safe answer? I think it is. I don't know if they've peaked or not.
Because September they're going to get back together. There's a lot of reports that'll be coming out before that with the jobs market and inflation, and so there's a lot to come out before they make that official, so we'll see. It wouldn't surprise me if they do one more one more rate cut, because you know, we see things slowing down. The economy still has resilience, but we're still a long way from two percent, so we have a
long way to go. They came out, They did come out and say that they're not expecting a recession like they were this year if they announced before, but I think they probably will. They're keeping a close eye on this, keeping tabs, and you know a lot of times people will say, well, if this is at the peak, is this not a good time to buy bonds. Well, first of all, in your plan, you want to have a diversified efishing portfolio. You don't make knee jerk reaction,
are just succumb to any gimmicks that are out there. And you know, at the end of the day, at the current levels, bonds do offer some pretty attractive yields right now. You know, the stock market may offer the great the stock market may offer the greater ability for wealth creation with stocks and equities, but bonds at a good price offer an anchor on the fixed income side. So you know, if you're someone who prizes a well balanced, you know, fortified, efficient portfolio. Now is a good time to
buy bonds potentially. Now with that said, you want to make sure it's in line with your risk model, you know, the rebalancing of your portfolio, and having a good understanding and awareness of what you're doing it, what you're doing, why you're doing it, and talking through these things, because almost almost every week we have several folks that we sit down with and we
go through our process. They haven't and a lot of them haven't done anything different to their portfolio in twenty or thirty years other than we've all gotten twenty or thirty years older, and that can be a recipe for a future problem.
And we're trying to avoid the problems kying of create calmer waves. We don't want white caps, especially going into retirement, and you know, by just having your pulse on the nerve a little bit and being involved, not that you have to be the expert, and working with somebody that cares and listens and explains, there can be a lot more peace of mind. You
can avoid the surprises, especially in retirement as it relates to money. Historically, or at least lately, we've been seeing evidence that when interest rates go up like this, inflation goes down. But the one area where we're not seeing that is food prices. They're not cooperating with that theory. Prices and profits keep going up even as the volume of products sold either declined or remained
flat compared to the same time period last year. And again, the Wall Street Journal says that consumers can stop buying other stuff, but man, food is something we can't stop buying. Area. What's going on with this? Is it greed flation? Do you think or you know, I think part of it is, you know, some of the largest consumer brands in the country, you know, have continued to raise prices aggressively this year, you know, while raking in huge profits, which really poses a tough problem for
the Federal Reserve as it aims to tame inflation. Because you know, the Fed's main tool, as we talk about weekly, to tackle inflation is raising interest rates. Well that's why they didn't, and which reduces demand for goods
and services. But food is one of those necessities, you know, Unlike other goods, food is something that cannot we can't stop buying, and food prices are particularly sensitive to you know, external factors like supply chain shocks, you know, ingredients prices, uh, you know, Russian and the green situation over there in the Ukraine to you know that supports a good part of the world and Africa over there. Those are all key commodities that are a
part of this um. We do see people, I think in the it came out in the study that they're being a little more cognitive and a little more aware of it, and they're going with more of the generic brands a little bit. But man, these food prices, you're right, they just continued to some stuff. Especially our daughter picked when it got groceries and this past week and I saw the receipt and I actually look at them because I do, and I'm like, holy buckets. Some of the line items were
just ridiculous. Well, we just remember just buying groceries last weekend and gosh, we didn't buy any meats, right, and that used to be the big ticket item, right when you went to the grocery store, your bill went up if you were stocking up on hamburger and chicken and things like that, because the cost of meat was. No meat, We're just talking stuff to get by for the week. Cereal bread, some cold cuts, that
kind of thing. Ninety two dollars, Yeah, ninety two dollars. And I didn't even have any like, you know, high quality meat or wine or anything in there that we normally jack up the bill like that. It's crazy, it's crazy. Yeah, we need it so right, and then you throw all the snacks in that college daughters want for the summer because I'm a soft your dad. Okay, then the price goes up even a little bit more. But that's okay. Well, you did say necessities now,
necessities. Yeah, according to my wife, though, a new big screen TV right now, that's that's not a necessity. We have a difference of opinion, but another discussion for a different beer. So anyway, and listen, these are all the things that will affect your money in retirement right that
you have no control over. And that's why it's important to get into haveing financial group, get your complimentary retirement reading this review, talk to Larry and his team, and make sure that your portfolio and what you have lined up for retirement is going to be able to withstand the things that are going on
in the world right now. Because, first of all, if you think you have a plan and you take it to Larry and his team, you might find out you really don't and that's okay because then they can help you
get get onto the right track. So I know that, you know, calling six to one two four four one two four four one could be one of the smartest things you do. Get on the cale for your complimentary retirement writing this review again six one two four four one twenty four forty one and the first meeting and Larry, I'll let you explain more about it, but it's just to get to know each other and figure out if you guys are a good fit. Right. Yeah, it's a very laid back approach.
You know, we meet a lot of people through education. You know, just last week I had ed from Northfield who's very very savvy. You don't have to be savvy. You can just be aware of what you're doing, have a little bit of idea. But he's very savvy. He's gone to meetings over the years and he goes. Last time I was in and I spent an hour with Mitch, one of one of our financial professionals, and that was the most valuable hour of all the meetings I've ever had with anybody.
And he's had lots of meetings and he does a lot of it himself. You know it's going to be worth your while. You know we're gonna sit down and ask more questions, and ask questions somebody's others probably have never asked you whether you're charitable, what motivates you, what's important to you, goals, objectives, etc. And take a lot of notes. But you're gonna get a lot out of it. There's no commitment, there's no obligation. Naturally. We help a lot of people through this process, but it
brings to light a lot of things that people haven't thought of. It brings a lot of answers to questions that people have had. I'm always surprised that people can have questions for five years or ten years, yet they never asked the question because they don't think it's a it's a wise question. Any question is a good question. Our job description is to answer those questions and give
people peace of mind and give them answers. Yeah, and the beautiful thing about working with haveing financial group is they don't care how much you saved. Right. You'll hear a lot of these guys say, well, have you saved a million dollars, come in and talk with us. It doesn't matter. And I think one of the biggest things that holds people back sometimes is because they think they don't have enough, where they're embarrassed that they feel like
they haven't done enough. But as Larry always says, you got to start somewhere, so you know, suck it up, buttercup and get in there and take care of your financial futures. Really way, it comes down to, yeah, small, medium, a large. You know, everybody should have the same opportunity. We're gonna spend the same amount of time and go through the same process. Again, this idea, we're not patting ourselves on the back where if you don't have a million, we're not going to talk
to you. That's just silly. Um. Again, everybody should have the same opportunity absolutely, Haven Financial Group six one two four four one two four four one. Hey, when we come back, we're gonna talk about and I don't know if I want to say it out loud and jinx it, but an almost two week winning streak for the Doubt and why so many retirement plans are being derailed right now? That and more on the way with the Haven Financial Group radio show here on Twin Cities News Talk eleven thirty and what
oh three point five flue. But you see, this is the Haven Financial Group radio show. Good morning, and thank you for being here with us along with Haven Financial Groups founder and CEO Larry calviig I and Bill Seller, and we get together every week to talk about retirement, how do you get there, how do you get through it, and how to not give most of your money away if you can help it, and also just about things
going on in the world. I thought this was kind of interesting. Authorities in Hong Kong, if you're headed to Hong Kong anytime soon, have a new strategy to tell people to don't smoke in non smoking areas. It's not steep fines or being arrested or anything like that. Instead, they're encouraging other people to stare and give disapproving looks to those smokers who don't follow the rules. Larry, do you, Secretary of Health in Hong Kong, believes that
the public can work together to create a culture the discourage is smoking. You know, there's only been two people in my life that can give me that look, right, father and my wife. The only two people that I ever got that look went, okay, I should probably quit whatever I'm doing. I don't know about you, but that's probably pretty accurate. So yeah, if you're head of the Hong Kong and decide to light up in public, be careful. You're gonna get a stern staring at Oh. You know,
we are here to talk retirement. And if you have checked your portfolio in the last few weeks, you've probably seen some nice games, especially if you're holding blue chip stocks. The Wall Street Journal reporting that Down notched a thirteen day winning streak did end at the end of last month. But are
there any smart money moves that folks could be considering right now? Larry, Well, we should be making smart money moves all the time, and it starts with having somebody that you work with watching what's going on, that you have a plan. You know, just because things ebb and flow doesn't mean we're mitt jumping in, jumping out, you know, dates rating speculation.
We're talking about people's long term retirement outlook. You know, when you work with somebody that knows what your goals and your objectives are, what you're trying to accomplish, you know, then you're going to be in a model or risk model that fits you best. You know, can you weather the storm and things get jittery? Do you want to jump off the cliff? You
know, the psychological part of money and investing. We start with stress testing your portfolio to make sure you're in the right position, you know, just last week again, and this is just one of many hundreds and hundreds of stories I have. You know, I have Jack and Nancy in from Lakeville, and Jack is a retired contractor, worked really hard, hard labor and his wife retired from as being a secretary. And they go, Larry, we lost so much money in the market. And I said, well,
you know the markets have come back some this year. Yeah, and I said, well, how much risk are you taking? Well, we told our guy we didn't want any really hardly any risk. Well, when we stress tested the portfolio, their risk level was considerably higher. And she's like, we didn't want hardly any risk. No wonder we lost so much money. See, there's that disconnect between oftentimes what people think they're doing and what they're truly doing. And let me jump in an aska here, yes please?
Is it because people are afraid? I mean, I'm kind of amazed by it. But are people just afraid to ask? I mean, you hire somebody to handle your money, but it's still your money, right. Well, sometimes people when they have your money, they forget whose money it is. Not everybody is, you know, in tune with what's going on, and they trust somebody. And I'm not saying anybody's wronging anybody, but I used the analogy. You know, when I get on the plane,
I'll let the pilot fly the plane. I'm not going to study to do it, but you should have some sort of awareness and understanding. You worked hard for those retirement dollars, small, medium, at large, and what are they doing with it? You know, how much risk are they? You know, it's fun to hit the home run, but is that really a necessity at this stage of life or you know, like most of our clients to hit a hit singles and maybe a double once in a while and
not strike out eight out of ten times? And you know, what's what position are you in and what should you be in based upon your situation? And it's normal for a married couple for one of one of you to be a high stakes gambler or a risk taker, the other one to be more conservative you know, but what's the happy medium? You know, setting the expectations and you know, with the markets for thirteen years, we got very spoiled until last year, other than a couple of blips over that time frame.
And you know what, in the meantime we continue that the element of time becomes that much more important. So you know, just be aware of what you're doing. You don't have to be, you know, hands on every single day. You can be if you want to, but then work with somebody that's actually listening. There's a lot of times people will try to convince you that while you're being too conservative, Well who are we to say what's too conservative or too risky? It's individual and when it's not, one
glove fits all. So again it's that relationship building, the understanding, the time that's put in. You know, I always say a retirements more than a forty five minute to an hour meeting once a year. There's a lot of retirement puzzle pieces that we talk about, and retirement requires more time and effort and energy on these things. When you bring in social security and you bring in taxes, and then the investments and then the estate planning, there's
a lot more attention that people should be getting for what they're paying. And that's another question. Most people don't know what they're paying. I always say, nothing's free, but what am I getting for what I'm paying should be
full disclosure. There shouldn't be any surprises. Yeah. And to that end, having that plan in place that Larry talks about all the time is so very important because one of the things that you tell me all the time is that, first of all, we never think anything is going to happen to us until it happens. Sure, and things change, right, And retirement expectations are being revised and changing as well, with almost a third of Americans
now saying they plan to put it off. And that comes from a new black Rock report saying that you know, mostly because of market volatility and inflation concerns, folks just think they have to keep working. And the report also found that those who feel their retirement is off track has doubled doubled in two years from twenty twenty one. That's amazing. So confidence in retirement is a
little bit wobbly right now. Larry, what are what are some strategies for building a good, successful plan that could keep you on track when times like this hit us. It doubled. I mean, that's staggering, staggering statistics. And a third of Americans now saying they're planning to put retirement off. You know, there's a lot of uncertainty and over these last couple of years, and it's people have become timid and a little scared. And you know
what you said it very eloquently that life happens. You know, just this past week, you know, we had one of our clients, her and her husband from Savage. She was just diagnosed with some cancer. We're praying with her and she's going to get through it. But you know, health is a game changer. Another gentleman that was in and he's losing his eyesight. You don't plan for these things. So his concern was, I want to make sure my wife has a relationship and she's being well taken care of
because he goes. I can't even see my statements. I can't even see what's going on. Life changes. You need to monitor and you make need to make adjustments. But you know, there's this retirement thing as people very stressed out. I mean, in the study, what did it say, like ninety three percent say market volatility is a key stressor well, if that's a stresser, then you shouldn't have so much market risk. There's the threat of inflation, risk, worries about all living your savings. You should have
liquidity. You know a lot of people have it all at risk and nothing liquid when we talk about that, and then none of the investment the principles protected. And have you planned then for longevity risk, you know, living longer than we anticipate, great problem to have, but your money needs to last as well. And have you planned accordingly for healthcare costs on the open market before sixty five or we help a lot of people and with that Medicare
decision, you know, at sixty five or whenever you retire. So we'd like to talk not that we'd like to talk about all you know, the sequence of return, all these different risks, but we want to talk about them, you know, get them to the service, understand them, and then prepare accordingly. So overall we have realistic expectations. You know, it's easy when we're winning, the greed factor can get in again. We all love to hit home runs. But what does the willingness for risk, need
for risk and the ability to take risk. A lot of times people say why am I doing this? I don't need to Others say, well, I'm looking to achieve this. Let's be real, let's not get greedy because twenty twenty one was so beautiful and we came back to our senses in twenty twenty two. Just you know what, wrap your head around this. But a lot of that can be done with who you're working with, just meeting with them on a regular basis to fend off some of those fears or worries.
Maybe they're valid, maybe they're not. Maybe nobody's listened up until this point. Well, i'll tell you what. The folks that have a financial group, they listen. That's why you want to call today and set up your complimentary retirement readiness review. The number again is six one two four four one twenty four forty one six one two four four one two four four one complimentary, no obligation. Nothing scarier than getting a retirement no longer having a
paycheck and wondering what the heck you're going to do to pay rent. And you have that plan in place that could be a lot easier for you. So again, six one two four four one two four four one coming up, no doubt about it. Everywhere it's host. We're living through a scorching summer, so is energy starting to look like a good investment. I'm going to ask Larry about that. And if you're planning to pass your home onto the next generation, we're going to examine some options for making it a smooth
transition. That's all on the way. Next with the Haven Financial Group Radio Show. This is Twin Cities News Talk eleven thirty and one h three point five FM. Welcome back to the Haven Financial Group Radio Show Classic. Two more bottles of Wine from Emmy Lou Harris. I'm bill seller along with Haven Financial Groups Founder and CEO Larry Calving, And you know, from the category of this should never be allowed to happen. The Sprit Society is teaming up
with Cloths and Pickles to create the first ever pickle flavored wine cocktail. Larry, Yeah, it sounds disgusting, but apparently pickle juice has been used in wine before for some of the cocktails to neutralize the strong taste. But pickle flavored wine cocktails, I don't know, man. I knew pickle juice was good for charley horses, but I didn't know it was good for wine. Well, you know, you drink enough of it, you won't care about
your Charlie horse. So if you're into it, there you're gonna and I'm not boohoo and people who want to try it, and if you enjoy it, we'd love to hear from you. But pickle flavored wine cocktail look forward
soon now shelf near you. It's so refreshing. I'm serious. Oh yes, So we've talked about this before, right is, as we get older, we part of getting ready for retirement as estate planning and making sure that people in our lives get the things we want them to have if we're lucky enough to leave stuff behind for somebody, and the family home is one of those cherished assets we talk about a lot and heck, you might have already
decided who's going to get the house, right, you've made the arrangements, but you could be handing over more than just a deed, so that you know the question is, Larry, what if folks who have done this still have a mortgage and what are the tax implications for those that they're giving the house too? Well, you want to talk through this from an estate planning
perspective. Yea. We work closely with Carrie and other estee planning attorneys in house, and there's just a right way and a wrong way, and it's not the same way for everybody. You know, some pitfalls that I would just point out. As you know, a will may not be the way to do things. You may still need a will, but as far as turning that over to kids or somebody just through a will, yeah, they might end up all your debts and even the mortgage or even more stuff than
you ever wanted them too. As far as the repercussions of that, maybe want to explore a revocable living trust, Maybe that's appropriate, it's more all encompassing. Or maybe a transparent death deed which is a quick claim deed that transfers it over to the kids or loved ones. Maybe that's appropriate and that will suffice. But working directly and having these conversations, it starts with a conversation. There's no cost, there's no obligation to sit down with Kerry or
any of us to have this discussion. What's appropriate, what makes sense? What are your goals? You know, there's certain documents that certainly people should all have, whether it's durable powers of a learning, an attorney, for medical records, healthcare, healthcare directives, living will. Those are the necessity when you're actually alive to a decision making power if something happens any adult over eighteen and then when you're gone, is it a will, is it a
trust? Is it irrevocable trust? Or one of these deeds. And you've got to bring into the tax implications. Now, the federal estate tax doesn't affect many people, but we have folks that come in where the state estate tax and that might actually lend itself to how you want to do things differently
from a tax perspective. So again, relying on relationships. Yeah, I got the best family and I got great relationships, and guess what if you're not here and things go wrong, you're not here to fix the problems.
So again, as much as we want to rely on relationships when it comes to passing on any or all assets, and a lot of times people have this misconception that, oh, I don't have enough to worry about out the formal great probate process in Minnesota's fifty thousand dollars okay, the idea that only a state planning is for rich people could not be further from the truth.
And I see people that really care about their moneys and their investments and their assets, but very spend very little time and are very flippant on their estate plan or they try to do it themselves. Let's face it, we live in a very lategious society. If our estate plan or our documents don't work, we're probably only getting one chance and we missed it. So make sure you have a competent and a state plan. Last I read, only fifteen
percent of Americans have a competent estate plan. Get it reviewed. Factor in, you shouldn't get necessarily built for changes or updates, or it should be part of the overall plan. So it's not fun and exciting, but it comes down to peace of mind. You, your spouse, your family, your kids, your loved ones, or maybe charities. We have a lot of clients that you know what charity is important to him, the church, or whoever it might be. So nothing is automatic. Nothing is automatic,
So make sure you have your decks in a row. You know, and I've mentioned this before, but I was one of those guy. I'm an only child and my parents passed away in twenty sixteen, I think in twenty sixteen, and they always wanted to have that talk with me, and I would put it off. I was I never wanted to deal with it.
But thank goodness, my mother left behind a briefcase and where I opened that briefcase after she passed away, because my father had already passed, there was a list of the ten things I had to do that she kept trying to tell me about that I didn't want to hear about. But it made dealing with everything so much easier for me. And if you can do that for
your kids, I just think that that is a wonderful thing. And sometimes it goes the other way too, right, Sometimes mom and dad don't want to talk about it, and maybe you got to send them down and go, look, folks, we need to talk about this. Even if you're the kid, right right, and we all have different personalities. What you
think might happen or might be different than what actually happens. Maybe you have somebody that has a better head on their shoulder financially you want them paying the bills if something happens, And you have somebody that's more in the healthcare field and more inclined to make good healthcare decisions for you that you want talking through
these things. And that's where Carrie just does an exceptional job of mapping out a plan and then getting everything done and then really creating a life plan within the plan that you know, it talks about these things and it's really a letter to the family put together by those that she's working with, and boy, it makes it makes a big difference. It really does. Know, some people are going to say I don't care, I'm gone. That is
your prerogative. But at the end of the day, do you want the government probate and taxes to be the beneficiary or would you rather have somebody that you that you recommend or that you would want to have it. So think of it from that way too. And that's all part of the retirement plan that the folk should Haven Financial Group go over with you. Your complimentary retirement
readiness review includes a state planning. So get on the calendar today by calling six one two four four one two four four one again the number six one two four four one twenty four forty one. That's how you reach the folks at the Haven Financial Group. The call you make today, it's not a long call, It is just to set the appointment, and we do have folks standing by even at this hour on a Sunday morning, is to talk with you and get you set up. And really it's a smart thing to
do. Six one two four four one two four four one. I mentioned at the top of this show. Just the heat is everywhere, right, I mean, we're on record as having I think the hottest July in the world. Who's actually a headline that I read the other day. Not just here in the US, but I do know that, you know here at home air conditioners. I can just hear them in my neighborhood. They're running day and night. It's the hottest summer on record. We've got the energy
bills to prove it. So I thought i'd ask you, does that make energy worth looking into as an investment? Larry? When you start seeing things
like this happening, well, we should look at all the options. You know, whether you're a socially conscious investor or an investor who sees an investment opportunity from things like climate change or falling costs of renewable energy, you know, in large companies investing in and producing more renewable energy, you know, diversifying your portfolio into these types of renewable energy stocks or equities is probably a
good idea, but it needs to fit into your plan. You know, you get the benefits of a diversified portfolio when you do this with the potential upside that energy stocks are famous for, though not without risk because these these can be these can be very volatile. It can be a good addition, but that's where you look at your plan. What fits in? How does it fit in? Probably is most people don't know. Most people do not know, and if you don't know, you should know. Work with somebody
that can help explain it. Somebody that is looking to cultivated long term relationships, you know, talking through the types of investments that you have and why, and you know, I always say what are you paying? Ask questions what added value are you getting for all this? So, yes, energy stocks or those types they can be part of a portfolio. It needs to fit in. Talk with whoever you're working with, ask questions, and at
the end of the day, efficiency and diversification makes it a difference. And just this past week I had somebody say, well, I don't want to put all my eggs in one basket. You have They had three different companies, three different statements, and all three of them had virtually exactly the same holdings. That's not diversification. You can be with one and be diversified. They had three and they weren't diversified. So don't fall into that trap.
All these retirement puzzle pieces, they can be boring, they end up being exciting, but you know, we'd like to have fun with it. We're gonna listen. We're not a stuffy environment. You know, we're not an arrogant environment. We want to have a homeie feel. We do lots of education, coordinate all these retirement puzzle pieces and have fun with retirement. That's
why they call it the Golden years. So that's great advice. So this is the kind of advice you get when you talk to Larry and his team at having Financial Group Again, the number is six one, two, four, four one twenty forty one. Oh man, I can't believe how fast our time goes by. And but but I'll tell you one thing. When we when we get together every week, I learned something new all the time, and I hope you guys do too, because that's why we're here every
week. And we can't thank you enough. For listening and being a part of the show. Larry that is going to do it. They're waving at us. We got to get out of here. But as always, my friend, it's it's been a blast. I head outside and maybe I'll grab one of these pickle flavored wines. See if it cools me down in the sounds go you have a wonderful week. Because because I don't think you're gonna try it, just drink it off because I'm not interested. This is Twin
Cities New Stock eleven thirty and one oh three point five every Day. 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
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