Speaker 1:
Do you hear that? That’s me enjoying my retirement, taking my grandson around America to see a baseball game in every part, sitting in the best seats and watching him smile. Now, that’s what it’s all about. How am I able to have this great adventure? Years ago, I rolled over my IRA with the help of a local trusted advisor. Safe, secure, trusted. They helped me turn my retirement worries into retirement rewards.
Steve Sedahl:
To get your complimentary financial review to help you traverse the financial red zone, you can meet with former Auburn football player, AJ Ruffin, founder and CEO of Jefferson Matthews Wealth Solutions proudly serving all of central Alabama, 800-515-1596, 800-515-1596.
Speaker 3:
This episode of the Financial Safari is brought to you by AJ Ruffin and Jefferson Matthews Wealth Solutions, for all your retirement needs.
Speaker 4:
Information provided is for illustrative purposes only and does not constitute investment, tax or legal advice. Information has been obtained from sources that are deemed to be reliable, but their accuracy and completeness cannot be guaranteed. Neither Peter J. D’Arruda or his guest reliable for the usage of information discussed. Always consult with a qualified investment, legal or tax professional before taking any action.
Pete D’Arruda:
Well, hello, America. It’s Coach Pete. This week on the Financial Safari, we’re going to talk about the art of retirement planning. We’re also going to go through a retirement planning checklist and eight Wall Street words every retiree needs to know. We’re also going to touch on why and how you might be paying unnecessary commissions in some of these national brokerage accounts. That much more with Chuck Kaiton, Marty Hensley and Steve Sedahl after this. Hi, this is Coach Pete. And if you’ve got questions on how to properly structure your assets and build retirement income, you’re in the right place. Welcome to the Financial Safari.
Steve Sedahl:
Welcome everybody. This is Financial Safari, and we are here with Coach Pete D’Arruda, America’s wealth, financial and income coach best-selling author, along with Marty Hensley and Chuck Kaiton. My name is Steve Sedahl. Boy, Coach, shall we have got a big show plan today, and I’m excited because I know there’s some bad folks out there. And I can’t wait for your reaction.
Pete D’Arruda:
Well, we’ve got a packed studio today, don’t we?
Steve Sedahl:
We do.
Pete D’Arruda:
We have some good folks here. Now, we’ve got Chuck Kaiton. Chuck, welcome in.
Chuck Kaiton:
Thank you very much, Coach. And I’ll lose 20 pounds. So, we’ll have more roommates. The studio is big. Let’s make it bigger. Marty Hensley seven footer speaking of not much room.
Marty Hensley:
Well, I can’t do anything about that. So, I cannot say I’m going to lose two inches. But it’s time to do another show.
Pete D’Arruda:
Yeah. We have high ceilings here in the studio Luckily. And Steve Sedahl. Steve.
Steve Sedahl:
Yes, sir.
Pete D’Arruda:
The news guy. A lot of news going on a lot of news going in the finance world.
Steve Sedahl:
A lot of news going on. Yeah.
Pete D’Arruda:
Yup. Some of the news here is not good. Some is real good. And I think the financial world never is lacking for giving us stuff to talk about, is it?
Steve Sedahl:
Never, never, never, never.
Pete D’Arruda:
But I thought today we’d spend a little time going through some good things and bad things and also some checklists and eight things that everyone needs to know when we talk about Wall Street because everybody is in Wall Street whether they think they’re in Wall Street or not. Everybody has some ties to Wall Street.
Pete D’Arruda:
A lot of people say I don’t care about Wall Street. I’m not in it. Well, maybe the company you work for is, and if they have a bad series of reports, you might want to think about looking for another job somewhere else before you get those pink slips that might come around. And every single week, we meet with folks who unfortunately get those pink slips. And then, we meet with them, and we try to make sure to bring them back from the roof because that’s really bad when something bad happens. And emotionally, you’re in a different place when there’s stages of rage and stages of depression. And then, you basically combine when you are told the company doesn’t need you anymore.
Steve Sedahl:
Oh yeah.
Pete D’Arruda:
Or if the company just closes its doors when you get there. So, one of the things we do with people we serve is that we help them map out, number one, where they are right now. And amazingly, it’s not as bad as you think it is many times. And matter of fact, we’ve seen some folks who were told by a company that they weren’t needed anymore. And when we sat down and analyzed where they were right now financially where they wanted to go into in retirement, and even their dreams, not just their needs, but their wants, they could have retired a couple years ago if they had the right plan.
Pete D’Arruda:
So, putting the right plan together, translating that financial plan that everyone has, and you might not think you have one. But if you have any money saved anywhere, you have a financial plan. And when you always plan to save more in the future, but it never happens many times.
Steve Sedahl:
Right, of course.
Pete D’Arruda:
But it’s translating that lump sum and everyone has a lump sum somewhere maybe more than one, translating that lump sum it to income, a retirement income. I call it financial fill-up, money that’s going to come to your mailbox each and every year regardless of what happens in the market. Regardless what happens anywhere, you’re going to get that check. And hopefully, that check will increase. We build increasing income into our retirement plans. And so, it’s basically taking the worry out of living in retirement when you know that checks are going to come. Marty, bills are going to come too, aren’t they?
Marty Hensley:
That’s exactly right. And I had a nice listener come in the other day. Chuck, somebody said, “what’s the most enjoyable part of your job?” That is telling someone that the numbers tell us that they can retire sooner versus the later? And even a lot of times that we can retire today.
Chuck Kaiton:
And one thing I’m finding too is if you’re working with younger clients. And I’m talking about, say, the late 30s into the 40s, and they may not think about these kinds of things, and it’s good that you make sure that they are aware no matter, as you said coach, whatever their financial situation is right now. They can augment that by doing the right things with your advice. That’s absolutely right.
Pete D’Arruda:
Yeah. And then, that knowing that you can retire when you want. Maybe you don’t want to retire. I’m not planning on every time. But I know a lot of the folks that we serve, and we talk to, they can retire whenever they want to. And part of the reason is we go through that second opinion survey with them. We look at where they are right now. We look at what their advisor is telling them. We’re going to talk about a doozy of a national firm of what they were telling their folks. We’re going to talk about that later on the show. But what their advisor is telling him, and if that’s really true or not.
Chuck Kaiton:
You know what I find Coach and Marty is and Steve, people of my generation and I’m in my mid-60s, don’t really want to retire, just to amplify what you’re talking about here. We want to go as long as we can. We’re in that 60s generation where we think we’re invincible. And as long as we keep our health. And we’re valuable members of the working society today vis-a-vis the young kids today who you’re having trouble getting to get jobs even summer jobs, hey, nothing against the millennials. But I’ll tell you right now this generation is not afraid to work, and we don’t want to quit working as long as we have all our faculties.
Pete D’Arruda:
Well, if you’ve ever left the company, you may be gone somewhere else. And then, you go back to visit the old company. It’s not the same anymore, is it?
Chuck Kaiton:
Right. No.
Pete D’Arruda:
If you retire same thing. So, a lot of people want to seem like they’re still useful and needed. And so, if you retire, they replace you. And then, you go back, and they don’t want to see you anymore. It happens all the time. We see it. And so, it’s that mental state. It’s not a physical thing a lot of times. It’s a mental thing. And, unfortunately, we’ve seen stories of people retiring today and a couple years later they’re basically… They’re not doing much anymore. They’re not happy.
Chuck Kaiton:
They can go stir crazy. You can only play so much golf or tennis or so many trips you can take, and that’s all well and good because that’s what your plans are all about, preparing people for all of these eventualities and all those wants because you can afford it. But you know what? your time is valuable too. And if you feel like you’re wasting it, you get down, you get depressed, and it’s not good.
Pete D’Arruda:
It’s not only having a plan, and that’s what we talk about on the show. And Coach drives at home each and every week. It’s the personalized plan right. Every single plan that we put together is personalized to that individual, no cookie-cutter approach, and that is what is absolutely crucial. Anyone can get a suit. But they need it custom tailored [crosstalk 00:07:54] The first suit I got it was a neighbor because I didn’t have one. And my parents didn’t have enough money back there. So, I was one of three boys.
Pete D’Arruda:
Dad was a college professor. Mom was basically a housewife. And so, college professors have never been paid that much. And dad back then, as a kid we didn’t realize, how much my parents went without to make sure my brothers and I at least had something except the suit.
Chuck Kaiton:
Well, I looked like Emmett Kelly at my high school graduation.
Pete D’Arruda:
Well, the neighborhood was nice enough. My neighbors, we had three boys next door. And then, one of them was about the same size as me [inaudible 00:08:25] said about, and he had a corduroy suit he didn’t want to wear anymore. [crosstalk 00:08:29] wore at my first dance, man, the corduroy suit.
Chuck Kaiton:
How about the seersucker?
Pete D’Arruda:
This was bad. Well, this was worse than a seersucker. This was 1982 in a corduroy suit that was left off the stage in high school.
Marty Hensley:
We talked about that personalized approach. Try walking into a store for a dress shirt and ask for an 18 neck 41-inch sleeve. So, yeah. See what happens [crosstalk 00:08:51] What kind of looks you get when you get that?
Chuck Kaiton:
Suffice it to say, Marty was not a horse racing jockey.
Pete D’Arruda:
41 inch sleeve, huh? Well, I’m 32, 33. And I think that’s almost too long sometimes.
Marty Hensley:
Yeah. I typically get the responses like, “I’m not sure that exists.”
Pete D’Arruda:
They can do like cut one sleeve off and sew it on. So, you’ve got a little sew patch there. It’s like the suit that used to have the little patches on the elbow. So, you anticipated you were going to put your elbows on the table which you weren’t supposed to do anyway.
Chuck Kaiton:
That’s right. Now, didn’t your mommy ever teach you that?
Pete D’Arruda:
So, custom, you’re right, Marty. So, custom tailor-fitting a plan. But if you’re listening right now, and you want to get a custom plan, you want your 401(k) analyze, Marty. The big problem with 401(k)s, a lot of people are participating. They’re putting money in every paycheck. But they really don’t know what allocation to select, and they don’t know if the selections they have are good, and they don’t know the hidden fees that exist in there.
Pete D’Arruda:
And, by the way, folks, there are a lot of hidden fees in the 401(k) or they wouldn’t be pushed as hard. We can analyze that for you, get you right on track, and go through a quarterly review process with your selections. And then, make sure that when it comes time to make sure that 401(k) now turns into a true retirement plan that income, we can help you with that as well. But the first step is to get a financial and retirement review looking at the road you’re on right now, the path you’re going down. And we take a GPS satellite view making sure that the road you’re on right now will get you to the true destination you think you’re going to, and you would be amazed how many people are way off course, and they meet every year with their advisor and advisor tells them everything’s fine. Marty, why do they tell them that? They want to keep the money there.
Marty Hensley:
They want to keep the money in place. That’s why we stress to folks is come in and get that analysis done, Chuck. We put an 18-page report together, and it is the best second opinion that you will ever get on your investment account. We look at fees. We look at expenses, and we look at risk adjusted returns. Are my returns where they should be commensurate with the amount of risk that I’m taking which is crucial? And that’s why we call it that personalized plan.
Pete D’Arruda:
So, we take those 18 pages, and we consolidate them right down to a one-page financial review. And if you’re a radio listener right now, and you have at least $400,000 saved for retirement, this review will be for you. Our strategies do work best for those of you with over a million dollars. But as long as you have at least 400,000 or so saved for retirement, and in 401(k)s or not your home. Your home, you’re not going to sell your home and live in the streets in retirement. But anything but real estate like that is incorporated.
Pete D’Arruda:
Now, if you have rental real estate that could be included in that because a lot of times when people get older, they want to transition out of the real estate and into a safe investment that will grow. It’ll give them protection, and it’ll give them income for the rest of their life. And if you have rental real estate, it all depends. you only get income if someone’s paying you rent.
Marty Hensley:
Yeah. That’s exactly right.
Pete D’Arruda:
So, we’ll put all that together for you if you’re one of the next 20 callers right now. And Marty, the most important thing is they’ll have their own customized income plan. Folks, you have your own income plan if you call right now that you’ll be confident in, and it’ll be true. Again, it’ll have growth, income, and protection all built in. It’s a triple play, the positive triple play in the financial world.
Pete D’Arruda:
But what Marty talked about, the most important part of this whole 18-page plan is we give you your own personalized and customized calculated risk exposure level as it currently exists now. Based on the risk you’re taking right now in the market, what would happen if it went the wrong way? What would it do to your portfolio? And if the market keeps going up, what would be on the positive side?
Pete D’Arruda:
So, we’ll weigh the positives versus the negatives. The secret in retirement is to get that curve down. So, if the market goes down, you don’t lose much if any of your retirement money. Now, there’s nothing wrong with taking risk. But don’t do it with money you’re going to need all the way through retirement. We can show your own calculated risk exposure level as well as your very own income plan which we call turning a financial plan into a true retirement plan, no cost or obligation.
Pete D’Arruda:
We’ve seen others offer this for over $1000 or more. Yeah. We could charge about $299 an hour for this. But we’re going to waive it as a radio listener. If you call right now, you meet with me Marty Parker and the team, and we’ll put together a plan for you that you can be confident in that’ll take you all the way through retirement.
Steve Sedahl:
Folks, this advice like this that shows you how important it is to meet with a financial coach who truly understands the ins and outs of the financial world, take advantage of this opportunity to make sure that you’re on the right path. And that path is based on your risk preferences, your budget, and your goals. This is your opportunity to meet with AJ Ruffin, former Auburn football player and founder and CEO of Jefferson Matthews Wealth Solutions who serves all of Central Alabama.
Steve Sedahl:
The number to call 800-515-1596, 800-515-1596. When you sit down with AJ and the team, you will receive a true practical retirement review that’ll show you where you are now. But even more important than that, we’re going to show you a road map to get you where you need to be, folks. That number in case you missed it, 800-515-1596, 800-515-1596. And we’ve got lots more Financial Safari when we come right back right after this.
Steve Sedahl:
Are you losing sleep over market volatility affecting your hard-earned retirement savings? You can’t afford to lose 40% of your nest egg like so many did in 2008. Many want safety and guarantee of principle but also prefer the potential of higher growth with the market. Now, you can have both. Call AJ Ruffin, former Auburn football player and founder and CEO of Jefferson Matthews Wealth Solutions proudly serving all of Central Alabama 800-515-1596, 800-515-1596.
Speaker 8:
Celebrity success stories.
Speaker 9:
Walt Disney started off as a farm boy drawing cartoon pictures from his neighbor’s horses for fun. When he was older, Walt tried to get a job as a newspaper cartoonist. But he was unable to find one and ended up working in an art studio where he created ads for newspapers and magazines. Eventually, he grew to work on commercials and became interested in animation and eventually opened his own animation company. His first original character creation was Oswald, the Lucky Rabbit.
Speaker 9:
But it was officially owned by Universal Pictures because he was working under contract with them at the time. So, when Walt walked out on Universal Pictures after getting a pay cut, he needed to create a replacement which was how Mickey Mouse came into being. Disney was widely successful with his animation company. But he was not satisfied. He was determined to make the biggest and greatest theme park ever seen saying to a colleague, “I want it to look like nothing else in the world.”
Speaker 9:
But did you know this? The man who affected generations to come with his cartoon creations was once considered a failure. That’s right. Disney was fired by the editor in 1919 for his job at the Kansas City Star because guess what? He lacked imagination and had no good ideas according to his boss. However, that man who brought us Mickey Mouse and a slew of other characters didn’t stop with that information there.
Speaker 9:
He went into business, went into bankruptcy, and actually started an animation studio as I mentioned before. The name of it was Laugh-O-Gram. But it was not successful. But the early failures in Disney’s life did not dissuade him from moving forward. And like anyone else, Disney’s failures were a blow to the ego. However, he turned it right around with a very successful career forming the Walt Disney company.
Speaker 9:
And for all his past failures, that helped pave the way for a successful business. Even that pay cut did him well. Disney and the Walt Disney company have touched the lives of millions across the globe from cartoons to theme parks, to animated movies for both children and adults they now enjoy the fruits of Disney’s labor. He is a perseverer and a great American success story.
Pete D’Arruda:
Welcome back to Financial Safari. Dave Perkins Consumer Advocate. Also, NHL Hall of Fame broadcaster, Chuck Kaiton and Parker Holland is chief wealth strategist with Capital Financial. And Parker, what is it that I don’t know that I should know that I don’t know?
Parker Holland:
Well, the problem is most people don’t know the standard definition of retirement. I mean according to Merriam-Webster, it is the withdrawal from one’s position or occupation or from active working life. So, depending on your age bracket, the word retirement comes up with different meanings, different emotions, and different concerns. And most people have in their head their image of retirement. They think they know exactly what it’s going to look like, exactly what their daily schedule is going to be. And then, when they go and retire from the workforce, they have no clue what to do.
Chuck Kaiton:
No, they have withdrawals [crosstalk 00:17:25] your job, you’re probably having withdrawals about being idle too. And what do you do with all this time?
Parker Holland:
Exactly. And, Chuck, I want to walk through retirement through the decades. And I love this report, and we’re building off of this. Coach Pete ran through this together. And I’ve heard this talked about on Forbes as well. I mean individuals in their 30s, they’ve watched their parents save. And because they’re now in their own careers and they think they’re doing a reasonable job of saving. And according to the Transamerica Center for Retirement Studies, 76% are saving for retirement. And only 30% of those who participate in their 401(k) or similar employer plan are contributing more than 10% of their annual pay. So, 76% of people are saving. But only 30% are saving what’s considered to be an adequate amount. That’s a huge concern.
Chuck Kaiton:
Well, now, tell me this. Do you think they don’t have any realization that if they have a job where their employer can match their 401(k) contribution, they’re not aware of it? They’re not taking advantage of that either? I’m not going to use the word the S word. But are they that unthinking?
Parker Holland:
Well, the problem is, and I’ll say it out right, I blame the employer or the plan sponsors. They come in on their first day. They’re getting thrown through a loop of training, a new place, a new environment, new colleagues, and they get a hundred or plus-page document put in front of them titled their benefits, and they put it on the back burner. They’re scared to look at it or they just don’t want to or they honestly just don’t know what to ask because it is a full-time job what we do here, guys.
Parker Holland:
And I mean, you know that it’s a full-time job. Something’s always going on. But it is our full-time job to break it down and tell exactly who calls us or our clients what their options are because it is a lot of information thrown at you. I mean it’s the definition of drinking through a fire hose.
Chuck Kaiton:
It’s amazing. I just happen to think that when you com, I always say, “Don’t be afraid to ask questions,” because you don’t know what you don’t know. [crosstalk 00:19:27]
Parker Holland:
There isn’t, not in this field. And retirement and planning for yourself and investing in yourself is the most important thing you can do. And that kind of brings into people in their 40s. I mean the age bracket of the 40s is when most people feel the pressure of the looming word retirement or 40-somethings are referred to as the sandwich generation. I mean I don’t like it. But that’s just what they call it.
Parker Holland:
I mean they may be responsible for caring of aging parents while working and juggling their own families and kids. This busy lifestyle leaves many people feel like they’re on a constant hamster wheel. Only 10% of 40 year olds are very confident they will be able to retire with a comfortable lifestyle. That is just too low of a number.
Pete D’Arruda:
Very low.
Parker Holland:
And this might be a lot of numbers on out there. But 22% state that paying off a credit card debt is their greatest financial priority in their 40s although this age is often frazzled with lies throwing at them. They are usually a focusing group because 82% of those offered a 401(k) plan are participating. So, all these numbers are conflicting. I know it’s hard when you’re listening to us, guys. But 82% of people offered a 401(k) plan are contributing or participating.
Chuck Kaiton:
So, that means in that 10-year period from your 30s to your 40s, they’ve actually financially matured.
Parker Holland:
Correct.
Chuck Kaiton:
But they still have credit card debt.
Parker Holland:
Correct. But just to satisfy that number, they may just be putting in one to 3% of their income. So, when everyone’s focusing on paying off debt which is a great importance to have to make sure retirement’s better for you, that means that only 10% of people out of those people that are contributing feel like they’re doing enough. I mean social security is not what it used to be. Pensions don’t exist anymore. Too many people don’t know what they don’t know because they don’t know what to ask, and they don’t know if they’re doing it right.
Chuck Kaiton:
Well, if there’s one thing they have to learn from this program, Dave and Parker, is that you have to pay yourself first. If you have that mindset, pay yourself, and that goes along with what Parker’s saying, maximize your 401(k) contribution. Make sure your employer maximizes theirs because I haven’t seen an employer that won’t maximize to X% once you give your X%. Usually, it’s six, and three or whatever, seven and five or whatever your company does. But pay yourself first.
Parker Holland:
And that leads into the age group of the 50s, those who are in the financial red zone. During your 50s, many people are well into their careers and realizing that they’re going to live a lot longer than what they planned on. I mean growing up, I knew it was funny and everyone got offended, you thought someone was old that was in their 30s. And then, [crosstalk 00:22:08] realized it’s not.
Chuck Kaiton:
What do you think of it?
Parker Holland:
Well, as I say, once you get to that number, you realize I mean life expectancy is just well beyond what it used to be.
Chuck Kaiton:
I was going to be Yoda at one time. And then, they cast the other guy. But anyway.
Parker Holland:
Yeah, I know. And it’s an important stage of life that you need to contribute as much as possible to your employer plan. Capitalize on catch-up provisions which are additional contributions your plan is allowing you to put in. And now, it’s also time to pay down that debt. You’re in the financial red zone. You don’t want to be paying debt in retirement. And, ideally, you want to enter your 60s debt-free. But for many families by the time you reach your mid-50s, kids are leaving the house which may provide more disposable income. But close to 60% report that they plan to work past age 65.
Chuck Kaiton:
And, you know something you hit home when you talk about the catch-up on your 401(k) because I was lucky enough to have an employer that actually informed me about the catch-up. Otherwise, I would have never realized it. I would have never known anything about that. So, that’s one thing that our listeners should also look at, is if their employer hasn’t told them that they’re eligible for the 401(k) catch-up to ask them about that and see what the parameters are for.
Parker Holland:
I mean almost every single retirement savings tool after age of 50 allows you to at least, at least, put in an additional thousand dollars. And 401(k)s and employer plans are significantly more money than that, that you can put away right, and that is a huge concern because when close to 60% are planning to work past 65, the reason being is due to that over half believe they are building a large enough retirement nest egg. So, all these numbers come back to that. People know the problem is there. They just don’t address it. It’s the outs of sight out of mind they’re working life’s throwing at them. They don’t plan on retiring. They just plan on working.
Dave Perkins:
We’re looking at, this is a lifestyle issue too. That’s important because they think a lot so many are planning to work past 65. But they’re missing a critical part of that retirement age, the fun years, the go years, right?
Parker Holland:
Exactly. And that goes into the 60s. People are living well into their 80s and 90s, and we’ve had a few come through there, and they’re hundreds. I mean this generation of adults are being forced the looming question, “What will retirement look like financially, socially, emotionally and physically?” 47% of 60-year-olds expect social security to be their primary source of income.
Parker Holland:
What do we talk about every week? It is not enough. It is should be used as an icing on the cake, not as a total big piece of your retirement picture. And too many people don’t plan that way. And with Social Security being the primary source, that means a little over half of that 60-year-old generation, 52% plan to continue working after they retire because of income deficit or health benefits. Health insurance and health care is the most expensive part of most retirement plans we put in place. And so many people realize they need a way to pay for that.
Parker Holland:
So, building a retirement income strategy is just one of the most productive actions you can take to feel more confident about your financial future. I mean, Chuck, I’m not sure if you’ve been here long enough to get one yet. But we are going to make you one. I mean a retirement plan is the most secure stress-relieving vehicle or thing you can do for yourself.
Chuck Kaiton:
I could use all the help I can get. Well-
Parker Holland:
You need to be confident in your financial future because if you don’t have that mindset that the strategies you have of your current finances and going through the next decades of your life that you have to make sure that your confidence level is at an all-time high when you get into that retirement age, and we’ll put a customized lifetime income plan together. Let’s take the stress out of retirement. Let’s put a foundation in place so that no matter what age you choose to retire, you know exactly what it’s going to look like.
Parker Holland:
This lifetime income plan, it’s just the most important thing you could ever do for yourself, your family, your retirement. Open the phone lines up for 15 minutes. Tell them exactly what they need to call or text to get this going.
Steve Sedahl:
That’s right. There is no cost or obligation to get a better handle on your financial situation. To find out what your investments really are costing you because the high fees or commissions, your future tax implications and how much income you can actually securely generate from that, once you do move into retirement, pick up the phone. You can sit down with AJ Ruffin, Coach Pete’s local trusted coach. They are serving all of Central Alabama folks. He’s a former Auburn football player. He is the founder and CEO of Jefferson Matthews Wealth Solutions.
Steve Sedahl:
The number to call to take advantage 800-515-1596. When you come in and sit down with AJ personally, he will translate that complex financial world into very clear instructions. you can get a true practical retirement review and truly lay out a road map to get you to and through retirement. The number once again, 800-515-1596. That’s 800-515-1596.
Speaker 12:
When we come back, we’ll highlight some costing mistakes to avoid as you get close to retirement. And we have a real-life case study from a listener just last week who wanted theirs read live on air. This and more, when we come back.
Steve Sedahl:
We are baffled how many people don’t understand the choices, risks, options and the expenses they pay in their current 401(k)s. That stops today. Get your total retirement income plan in place and tackle the financial red zone with former Auburn football player founder and CEO off Jefferson Matthews Wealth Solutions, AJ Ruffin serving all of Central Alabama, 800-515-1596, 800-515-1596.
Speaker 8:
Celebrity money mistake.
Speaker 9:
Adam Yauch, AKA, MCA or Nathaniel Hornblower, is probably best known as the founding member of the Beastie Boy. He was also a film director and human rights activist. He was born and raised in Brooklyn, New York. The Beastie Boy’s a hip-hop trio released their first album on Def Jam Records when Yauch was 22. The Beastie Boy sold 40 million records worldwide by 2010. In April 2012, the group was inducted into the Rock and Roll Hall of Fame.
Speaker 9:
Yauch was inducted in absentia because of illness. In 2009, he was diagnosed and unsuccessfully treated for a cancerous parotid gland and a lymph node. Yauch died at age 47. In May of 2012, he left behind a wife and daughter. In his last will and testament, the Beastie Boy scribbled a note on his will that prohibited the use of his music in commercials, but handwritten wishes on a will often lead to complications. The phrasing might not actually protect the work. His net worth was estimated at about 75 million dollars at the time of his death.
Speaker 9:
This is just another reason why it’s vitally important to meet with a true financial coach who listens to your goals for investment and legacy planning and could implement a total retirement income plan including assessing your will, your trust, powers of attorney, and reviewing all beneficiary designation.
Dave Perkins:
Welcome back to Financial Safari. I’m consumer advocate, Dave Perkins joined by and with NHL Hall of Fame broadcaster, Chuck Kaiton, and chief wealth strategist, Parker Holland. We are pointing out mistakes you could make so you won’t make them. And, Parker, I love when you have the case studies. They really drive the point home.
Parker Holland:
Of course. And too many people, they think about retirement. They daydream about what it can be when they’re working, and they don’t realize that successful retirement doesn’t happen by chance, and there’s some very expensive mistakes you can make. So, let’s go through them and how to avoid them before I dive into this case study. But Chuck, I mean this is what I love. This is why we do what we do.
Parker Holland:
I mean this listener met with us just over a month ago. They just called back in earlier today and wanted us to read their case study live on air because not only just that’s what got them intrigued. But they just want people to know that it’s real world numbers we’re talking about. It’s real plans that we do here.
Chuck Kaiton:
That’s right. And so, before we get to that, let’s go to retirement 101. Not [crosstalk 00:30:50].
Parker Holland:
Professor Parker.
Chuck Kaiton:
That’s right. Professor Holland. That’s right. By the way, do you live in Amsterdam? I don’t know. But retirement 101, not having a plan is the first problem.
Parker Holland:
It is. And too many people are scared that coming in to their 40s, 50s, and 60s that retirement’s around the corner. It’s a scary subject. It’s something we all want to get to. But it seems like everyone’s scared to kind of put in place because there’s so much doom and gloom out there. I mean you turn on the news. You see all these problems. There’s red on the screen. You’re just worried that you’re not doing what you should be or you just don’t want to know what could possibly be wrong.
Parker Holland:
Most of the time with listeners call in and they get these full plans put together, they’re in better shape than what they thought when they originally called in, and that’s what we’re here for. We’re not here to provide doom and gloom. We’re not here to pull water from a rock. But we just want you to know exactly where your options are in the total financial arena. We’re independent. We’re a fiduciary firm. We have to tell you what’s best for you and with what we do. 99% of what we do is education.
Parker Holland:
You don’t know what you don’t know. And if you don’t know, then how can you prepare for it? [crosstalk 00:32:05] How can you bridge it? There’s red flags or potholes to address. But they just need to be addressed. They’re easy to avoid.
Dave Perkins:
Yeah. They may not know because you mentioned earlier in the show, for instance, when they get that big packet from their employer, they just kind of tuck it away because it’s overwhelming to them. That’s why they need to come in here with the good questions that they could potentially leave here feeling a lot better.
Parker Holland:
And the biggest concern I have, I know it’s further down the list here, Chuck. But I mean I think this leads right into it. Too many people put off saving for retirement. I mean just putting $10,000 away annually for 25 years can grow to almost 800,000 over that 25-year period. That’s a substantial amount of money. I mean $10,000, that’s a lot to put away.
Chuck Kaiton:
And there’s a lot of other places that you can advise them to put that money away too because there’s a lot of tax advantaged retirement accounts like the Roth. In fact, you and I have talked about this before, putting in the maximum in your working years. If you are eligible to do it, do it. The Roth is taxable when you [crosstalk 00:33:06].
Parker Holland:
Exactly. It’s tax-free, and it grows tax-free. But I mean too many people don’t save or invest in themselves. I mean $10,000 25 years, 800 grand. But if you start five years late, just five years late, you’d accumulate 500,000 over 20 years. That’s almost $300,000 difference just by starting five years later. So, 50 grand is a $300,000 shortfall. That’s compounding. And if you’re putting money in a Roth like you just said, Chuck, that’s tax-free money that Uncle Sam can’t touch for you in retirement. There’s nothing sweeter than that than tax free because taxes don’t go away. They don’t go down.
Parker Holland:
And that leads me into number two here, I mean not making the most of tax advantage retirement accounts. Whether it’s tax free or tax deferred, and you’re writing it off or too many people don’t realize there’s a third category. It’s called taxable. You put after-tax money in, and there’s no 59-and-a-half rule. There’s no limitations. There’s no income limits just like a traditional brokerage account. But if you do it right, it’s only subject to capital gains.
Parker Holland:
And too many people don’t realize that capital gains, yes, it’s a tax. But it’s only on the gains. And it’s normally a third, if not less, than what income tax rates are. So, it’s kind of straddle’s defense I like to say between tax deferred and tax-free. I mean there’s not a perfect solution. Uncle Sam’s always going to get their money. Of course. And it needs to be done the right way, and that’s why we’re here as citizens of the United States of America. But you need to do what’s best for you, your goals, objectives, your family, your plan.
Chuck Kaiton:
All right now, here’s another mistake. we’re talking about mistakes people make, and this one really drives me crazy because I know a few people that have done this and now regret it, and that is cashing out their 401(k) or even borrowing from their 401(k) account.
Parker Holland:
Exactly. And borrowing, it’s a key benefit. It’s a great benefit there for employees that if they’re going through buying a home or unexpected healthcare expenses or something come up, that you can borrow from a 401(k). But too many people fail to pay it back. You’re loaning yourself the money. So, I mean you’re your own debt collector. You’re not going to come at you with a baseball bat threatening to break kneecaps if you don’t pay yourself.
Chuck Kaiton:
But you should be your own [inaudible 00:35:17] though [crosstalk 00:35:17].
Parker Holland:
Exactly. Like the Soprano situation. But the difference is I mean that is detrimental to you because too many people don’t realize when you leave that employer or when you retire and start paying yourself, if that loan’s not paid back, that’s 100% taxable to you before that first withdrawal comes out, and that can be a huge detriment to a retirement plan. You have a $20,000 loan. You need to take $30,000 out at your first year of retirement from your 401(k). That means even though you’re only pocketing 30,000 that is going to be taxable for your retirement benefit, you’re paying taxes on 50 grand.
Dave Perkins:
Wow, yeah.
Parker Holland:
And that could be a huge problem especially in your first year. That could throw you into another tax bracket if not two.
Chuck Kaiton:
Absolutely. Absolutely amazing. Now, you promised us a case study yes. So, I want to hear it.
Parker Holland:
So, this listener, she’s great. She’s actually a teacher in the area. She has heard us for decades, she says. She’s loved Coach Pete and the team, and she got to sit down with us both personally. But she requested that when her plan was done that we would do it on air. And I’m going to keep that promise for her. Let’s just call her… Who was your favorite teacher growing up, Chuck?
Chuck Kaiton:
Mrs. Knicely.
Parker Holland:
Miss Knicely.
Chuck Kaiton:
Not N. And it was K-N-I-C-E-L-E-Y. Was she nice? She was a very good teacher. I remember her, and I actually won the spelling… I’ll get into that. I knew all the capitals in the United States when I was in second grade. But that in 50 cents will buy you a [crosstalk 00:36:44].
Parker Holland:
Exactly. So, let’s just call it Miss Knicely.
Chuck Kaiton:
Mrs. Knicely.
Parker Holland:
She is 60 years old. She is just transitioning to another county. So, she wanted to take control of her retirement. She wants to retire at 65. Luckily, she has a pension. But not counting that pension. She has $930,000 saved for retirement. So, it’s not a million dollar plan. But it’s close. So, Mrs. Knicely, 60-years-old has 930,000 saved for retirement. She wants to retire at 65. So, with her pension and Social Security and such, it’s not what it used to be.
Parker Holland:
As we know pensions, don’t really come through like what they are. But the biggest benefit was her pension had a healthcare, but that’s a separate story. But she needs an additional 55,000 a year to keep her standard of living in retirement. So, that 930,000, she needs 55,000 a year to make sure she’s taken care of at 65. Well, Chuck, since Mrs. Knicely was so nice, we started giving her 63,000 year at age 65 from that sixty five from that 930,000.
Parker Holland:
Now, she has grandkids or the grand baby, she calls them. And she wants to make sure a legacy is left there for education. She set up a trust for education funding for her family which the beauty of every account we do, Chuck, I know we don’t talk about it, gets into the nitty grit. But trust are great. I mean my major was in trust and wealth management. They are great tools, and they can be great benefits on legacy planning. But we wanted this to fund the trust.
Parker Holland:
So, meaning she wanted to live off the icing off the cake, but never touched the cake. So, that 63,000 a year, we increased it to and through retirement. We had inflation protection built in there. So, over her life expectancy, now, Chuck, you see this goes through age 121. I’m cutting it off at 90. I’m cutting it off at 90. That means she took $1.8 million in income from her $930,000 retirement account.
Chuck Kaiton:
And the cake is intact?
Parker Holland:
At age 90, if she kept living longer, she’s fine. But age 90, her trust or legacy benefit was 1.2 million.
Chuck Kaiton:
Wow.
Parker Holland:
Now, those aren’t huge numbers. Those aren’t huge swings. And the beauty of these accounts is that the income component is guaranteed. So, not only did she maintain control of that legacy. She got the income she needed. She had the inflation protection. Her standard living was taken care of. But she was able to do all this while keeping the principal or the cake intact. It’s a spend and leave plan. It was a great definition. Miss Knicely was very happy that she was taken care of. She knows that no matter what happens between now and the next five years that she’s… These are real numbers. This is a real plan. She’s a real client. In the next five years, no matter what happens on the screen, she is taken care of.
Parker Holland:
And that’s the importance of what we do, and it’s kind of getting into the sentimental aspects. But that’s why myself, coach, and the team are here. We want you to know exactly what your options are. If you call us in the next 10 minutes, I’m putting no limit on this [inaudible 00:39:37]. Open the phone lines for everybody. Open them up here. If you call us in the next 10 minutes and want your own spend and leave plan, normally our plans work best for those over a million. But if you have at least 500,000 saved for retirement , we want to put this together for you no cost or no obligation.
Parker Holland:
Make sure that your retirement plan is put in place. Make sure you know that no matter what happens, you and your family are taken care of. If you’re one of the next callers in the next 10 minutes with at least 500,000 saved for retirement, get this customized lifetime income plan. Let’s take into account. We’ll still do the forensic fee analysis, the tax planning, inflation protection, long-term care, legacy, social security maximization and a no-cost obligation total retirement plan in the next 10 minutes.
Steve Sedahl:
Folks, this is advice like this that shows you how important it is to meet with a financial coach who truly understands the ins and outs of the financial world, take advantage of this opportunity to make sure that you’re on the right path. And that path is based on your risk preferences, your budget and your goals. This is your opportunity to meet with AJ Ruffin, former Auburn football player and founder and CEO of Jefferson Matthews Wealth Solutions who serves all of Central Alabama.
Steve Sedahl:
The number to call, 800-515-1596, 800-515-1596. When you sit down with AJ and the team, you will receive a true practical retirement review that’ll show you where you are now. But even more important than that, we’re going to show you a roadmap to get you where you need to be, folks. That number, in case you missed it, 800-515-1596, 800-515-1596.
Dave Perkins:
Quick break, and we’re back with more Financial Safari.
Steve Sedahl:
Do you ever feel like you’re fighting for financial knowledge? Don’t let bad advice be a punch in the gut to your retirement. Get a copy of our hot-off-the press 401(k) modern rollover guide or take advantage of a complimentary no cost, no obligation consultation with a local trusted financial coach. Call AJ Ruffin, founder and CEO of Jefferson Matthews Wealth Solutions, 800-515-1596, 800-515-1596.
Speaker 8:
Celebrity success stories.
Speaker 9:
We’ve all heard this name before, Thomas Alva Edison. But this famous American is attributed with failing over 10,000 times to invent the commercially viable electric light bulb. But he did not give up. When he was asked by a newspaper reporter if he felt like a failure, and if he should give up, having gone through over 9,000 failed attempts, Edison simply stated, “Why would I feel like a failure? And why would I ever give up? I now know definitely over 9,000 ways an electric light bulb will not work. Success is almost in my grasp.”
Speaker 9:
Ever the optimist, Thomas Edison, and this is also the same person whose teacher said he was too stupid to learn anything and was fired from his first two employment positions for not being productive enough. However, Edison, through his failures, is also the greatest innovator of all time with his 1093 United States patents to his name along with several others in the United Kingdom and in Canada. Thomas Alva Edison, now this is somebody who refused to ever give up no matter what, a study in perseverance, and one of the great American success stories.
Steve Sedahl:
And welcome back. This is Financial Safari. I’m a consumer advocate, Steve Sedahl, and we are in studio with the Chuck Kaiton, voice you recognize from everywhere. Say hello, Chuck.
Marty Hensley:
Hello, Chuck.
Steve Sedahl:
And, of course, Marty Hensley, and America’s best-selling author wealth and financial income coach, all-around good guy. We call him boss, Coach Pete D’Arruda.
Pete D’Arruda:
I stay pretty busy sometimes. But the objective of life is to enjoy what you do. And I really enjoy what I do. I’ve been enjoying what I’ve done for the last 26 years serving people in this area making sure that they’re on the right path financially. And Steve, that’s why I get passionate when I meet with folks and maybe they’ve been meeting with some other financial advisors or brokers or maybe they have a plan they thought was fine or a 401(k) plan. But they don’t know where they’re going many times. And the person who’s been giving them those directions have been given the wrong directions. Remember the day Marty and I and Chuck and Steve, we all remember the day. Remember the day before phones, before cell phones. [crosstalk 00:44:14] not phone, not phones. No, cell phones or GPS of the car. Remember that thing you used to have to unfold called a map.
Chuck Kaiton:
Like a road map?
Pete D’Arruda:
So, there was a time where we had to actually get the map out and look at where we’re going. And luckily, technology has approved. So, we don’t need that anymore. We just put in our directions into the map. But unfortunately, I feel like we haven’t had that revolution yet in the financial world. We are still many people that I talk too, many of the people that we are meeting with from the coming from the show, they still have an advisor who has that paper map. But the paper map, it hasn’t been completed. It’s like they had half the destination. But this would happen too, Chuck. Remember, Steve, you would unfold the map, and you were going down the road. And then, you realized the map ran out.
Steve Sedahl:
Yeah. Wait a minute.
Pete D’Arruda:
And that really is a true thing. You’re going from North Carolina, Virginia, and it turns out all you had is a North Carolina map.
Chuck Kaiton:
Right. And how about the ones where you have to re-issue the maps because new roads have been [crosstalk 00:45:10]?
Pete D’Arruda:
Yeah, well, that too.
Chuck Kaiton:
Now, you’re lost.
Pete D’Arruda:
But let’s go back to the map though. So, you had a map of North Carolina. You’re going to Virginia. You go to Washington DC, and you forgot to get a Virginia map. Well, a lot of financial plans are like this. People are getting you to retirement. But they’re not getting you through retirement. And so, people always ask me, and I know Marty shared this with me too, “Coach, what age should we start planning for retirement?”
Pete D’Arruda:
Me, I always say at the beginning of your working career. But if you’ve been putting it off, 52 is the absolute deadline to start planning for retirement. Now, if you’re 57, if you’re 63 and you haven’t started planning yet, don’t despair. But if you’re 51, it’s a good time to roll your sleeves up. If you’re anywhere in your 50s, even 60s, let’s diagram out. Let’s get a complete map about what you’ve been doing, where you are right now and where you want to be, and let’s make sure that you are on the proper road.
Pete D’Arruda:
And what I used to do, I’d get the free maps from AAA. And I would get a highlighter out. And I would highlight the destination I want to go to. Then, I’d look around and make sure that everything was fine there, make sure there’s no possible flooding of the roads, that kind of thing. So, we don’t want any flooding or storms to hit our retirement plan. We do that for folks. Remember, back in the day before they started blowing up the mountains, you had to go around the mountain to get up the mountain and over it. Remember that? You go around, around, around. The bear went over the mountain. I guess the bear invented it because he didn’t go around it. He went over it yeah.
Chuck Kaiton:
I always wondered about I-77 or those two tunnels you go when you’re going north on 77 toward Cleveland.
Pete D’Arruda:
Well, a tunnel is where they actually went through it. And so, instead of going around things and wasting time, let’s go through it. The shortest distance between two points is what?
Chuck Kaiton:
Straight line.
Pete D’Arruda:
Straight line. That’s what Wayne Gretzky used to say. They say, “Wayne, you’re not the fastest skater. But you always seem to be where the play is.” And he said, “I don’t skate to where the puck is. I skate to where it’s going.” And so, folks, we do that same mentality in the financial world. But if you want your very own, true retirement plan, not a financial plan that’s disguised as a like Halloween put a mask on like a disguise as a retirement plan, get a true retirement plan. That’s one that actually has income built in for life that is growing right now. When you don’t need it, it’s protected when you don’t need it and when you need it. And then, it gives you income for the rest of your life. That is a true income plan which turns a financial plan into retirement plan.
Pete D’Arruda:
Steve, if people were curious about this which I would be if I was listening and I wasn’t sure if you’ve had one advisor for a long time, maybe they don’t specialize in what you need to see it. It would not hurt to interview a couple other advisors, ones that are true fiduciaries. I am a RICP, retirement income certified professional. There aren’t many out there. It’s a designation three-proctored exams, three big classes over two years. It’s a destination that specializes in transitions from financial plans to retirement plans, going from your working years to your retirement years. And the best time to do it is before you retire, to get the plan put in place.
Pete D’Arruda:
So, if you are one of the next 10 people call, I mean we could charge $250 or more an hour. We’re licensed to do that. But we’re not. We’re going to waive that fee if you call right now, if you’re one of the next 10 callers with at least 200,000 saved retirement. We’ll put your very own plan together. We help you identify some of those financial termites inside almost every 401(k) and show you ways to allocate your funds correctly. And if you’re 59 or over, you could transfer some of that money tax-free from your 401(k) into your very own individual IRA. And if you have more than one 401(k) or IRA, we put them together. We call that a Super IRA. It makes retirement planning fun. Steve, I know that you’ve spent a lot of time this week putting together what we call Brokers Behaving Badly. I think I would like you to play that right now.
Steve Sedahl:
You got it. The Financial Safari News Network presents Brokers Behaving Badly. Today’s episode of Brokers Behaving Badly is really bad. We learned from the SEC that five former advisors and three firms they represent are facing multiple charges in Manhattan District Court all stemming from a $102 million Ponzi scheme. It’s alleged that it started when Perry Santillo and Christopher Parris began buying or taking over the books of businesses of retiring investment professionals.
Steve Sedahl:
They persuaded the newly acquired clients to take retirement savings out of traditional investments and put it instead into products owned by the men or their associated firms. The SEC alleges that the men all knew that what they were doing was a scam, and that they were stealing from their clients. In one case, going back to 2015, it’s alleged that John Piccarreto invested $250,000 from an 80-year-old client with dementia.
Steve Sedahl:
Two years later, his daughter began to ask questions. And Piccarreto assured her that he promised he would quote, “Never let anything happen to the money.” The victim’s family has never received any money back. The men spent at least $20 dollars on themselves, and they paid $38.5 million in ponzi-like payments. So, what did they do with the money? Well, in one case, Perry Santillo allegedly funded a party in a Las Vegas nightclub where he commissioned a song about himself with the line that referred to Santillo as King Perry in a $10,000 suit. None of the men could be reached for comment. Legal counsel was not listed in the court documents. We’ll keep you posted.
Chuck Kaiton:
Do you believe that?
Pete D’Arruda:
Well, the goal of some of these guys and gals, huh?
Chuck Kaiton:
Well, they were right on one thing. You don’t have to worry about your money because it was in his pocket.
Pete D’Arruda:
It’s gone. When it’s gone, it’s gone, right?
Steve Sedahl:
And it’s gone.
Pete D’Arruda:
You know what? That happened. Marty, we see it unfortunately way too much, don’t we?
Marty Hensley:
Absolutely. I had a gentleman the other day. He was actually a victim of a Ponzi scheme, and he came in and, obviously, had a lot of concerns. He came in to talk to us. And when we explained that we were fiduciary, had been in business for a very, very long period of time, we took that team approach, put that personalized plan together. All his inhibitions fell away, and he was able to take advantage of some of the strategies that we were put together for.
Chuck Kaiton:
I really feel sad too because I do know a person who will remain nameless who also lost a lot of money with the most celebrated Ponzi man. Remember the guy-
Pete D’Arruda:
Weekend at Barney’s.
Chuck Kaiton:
The guy that made off with money. He was one of the victims of that. And they’re still recovering, and he’s in his 80s.
Pete D’Arruda:
I think it’s important, folks, that to get that second opinion just to make sure that everything, hey, my broker’s doing great. Well, let’s make sure. And we’ll do it where a fiduciary firm will tell you if you’re doing great, that’s a good seal of confidence. And if not, we can make some recommendations. Chuck, I wanted to be remiss if we didn’t talk about a new show we’re doing.
Chuck Kaiton:
Yes. It’s called The Live Happy Show. And I’m very enthused about it. I think three things that you and I have a lot in common with a lot of our listeners, and that is the love of wine, the love of cigars, and the love of sports.
Pete D’Arruda:
And the love of talking to people that have participated in that. We’ve had Ron Francis on. We’ve had Scottie Bowman, 14-time Stanley Cup champion.
Chuck Kaiton:
He’s a coach and Ronnie Francis Hall of Famer, and we’ve got some great guests lined up. Dennis Potvin of the New York Islanders. I think we have a lot of transplants that listen to us from the New York area. Remember the fourth straight Stanley Cups that he won with the New York Islanders in the early ’80s? We’ve got Mark Howe coming on. We’ve got Mark Johnson. Who can forget? I’m not really [crosstalk 00:52:05].
Pete D’Arruda:
A lot of people have forgotten his name though.
Chuck Kaiton:
What about the 1980 US Olympic Hockey team-
Pete D’Arruda:
Oh my god.
Chuck Kaiton:
… and what they did for our country, Steve?
Pete D’Arruda:
Absolutely. ii
Chuck Kaiton:
His dad was a coach too. Bobby Johnson was. He was a great coach. He was the ’76 Olympic coach, didn’t have as much success as his son did under Bob Johnson’s nemesis who was Herb Brooks, the coach of the Minnesota Gophers who was the coach of that ’80 Olympic Team.
Pete D’Arruda:
And as a Bruins fan, we’re going to have Bobby Orr, Phil Esposito and even where we’ve got Wayne Gretzky. He said he’s going to come on sometimes.
Chuck Kaiton:
It’s funny because I talked to Scotty Bowman last night, [crosstalk 00:52:36] and he’s getting me Wayne’s numbers for another guy. And obviously, it’s going to be a show [crosstalk 00:52:42].
Pete D’Arruda:
So, you can watch it and listen to it, livehappyshow.com, livehappyshow.com. We’re very excited about that, very good show. And if you are one of the next 15 people who’ll call right now, we’ll give you a no-cost review of your situation. We’ll put together your very own retirement plan. We’ll look at all the financial termites. We’ll help you expose things you might not see.
Steve Sedahl:
The first step truly is to meet with financial coach. If something that we’re talking about here on the show resonates with you, and you feel the need to get that second opinion or if you want to make sure that your retirement plan really is aligned with your goals, and that very important risk tolerance that we talk about, maybe you don’t have a plan at all, and you need to get one in place, you can meet with former Auburn football player, now the founder and CEO of Jefferson Matthews Wealth Solutions, that is AJ Ruffin. He serves all of Central Alabama.
Steve Sedahl:
And the number to connect with him and his team so you can sit down with him personally and begin to get this plan in place, 800-515-1596. That’s 800-515-1596. When you come in, AJ and his team will translate that complex financial world into very clear instructions. This is a great chance to get a true practical retirement review like we talk about here on the show.
Steve Sedahl:
So, once again to get that road map to get you where you need to be not only up to retirement, but all the way through the financial red zone all the way to and through retirement, folks, that number 800-515-1596, 800-515-1696.
Pete D’Arruda:
For Chuck Kaiton, Marty Hensley, Steve Sedahl, this is Coach Pete. We’re going to join you next week right here same station, same time on the Financial Safari. (singing)
Speaker 4:
Information provided is for illustrative purposes only, does not constitute investment tax or legal advice. Information has been obtained from sources that are deemed to be reliable. But their accuracy and completeness cannot be guaranteed. Neither Peter J. D’Arruda or his guest reliable for the usage of information discussed. Always consult with a qualified investment or tax professional before taking any action. Annuity guarantees are based solely on the financial strength and claims paying ability of the issuing company. Individuals should thoroughly review the contract for specific details of their product, features, and costs. Income payments and withdrawals from deferred annuities are generally taxable as ordinary income in the year they are taken.
