Welcome to retirement just inebriated. Presented by then we can retirement planning group. The retirement income specialists. From finding solutions to all aspects of your retirement paints the wants and drinks including staging and Medicare as security planning. This is retirement disappearing. Some folks may have to work well into their eighty -- if they wanted to provide for any kind of golden years. Few people have enough money to retire. It's going to want to save save save save things that they know I think you're gonna need that money to supplement their retirement woman candidate. Welcome to retirement -- radio my name -- -- he went along with Steve Conte president of the deacon retirement planning group posting I don't Rand and also what -- -- CEO how are you certain. Doing well -- how -- -- -- very very well and ladies and gentlemen for over twenty years their mission has always been ensuring a secure retirement. Steve you're located in Austin, Texas correct that's correct. Tell you to handle all the -- Diego Carlsbad locations are corporate headquarters are set up in Carlsbad California we have an office in San Diego and another satellite office in Escondido so I think folks are trying to find Carlsbad officers are going north to hit the wind will turn right filter out at the -- turn left that's right -- -- -- as you keep the ocean on your right gone south here. And dead now ladies and gentlemen your retirement destiny advisors have the knowledge and capability to help many people with a variety of financial situations. Some advisors only planned for retirement. But your retirement -- advisors can help with all aspects of your financial future retirement planning estate planning Medicare planning. And Social Security planning. Think your retirement as a car. Are you gonna go to one mechanic for an oil change another -- -- -- plans changed and yet another to top off your fluids no. So why would you do it for your retirement and I'm gonna go on a limb here and say that your retirement is a little bit more important in your car. I think it's a lot more important than your car the problem today -- the message that we try to get across to our clients and prospective appliances. You've got to know a lot. OK and be cognizant of a lot of things to get you to where you wanna be in retirement. The whole atmosphere in the world is changing today. We help people get control. Of their destiny of their retirement destiny that's the bottom line he can do it. People just don't have the knowledge okay to to know what to do -- that's our job. -- more importantly Rand most people spend more time planning a vacation and they do planning for their retirement and that's. Part of the issue is is getting them to that point where they understand how important is to sit down with the right team. To lay out -- a road -- and again that map is gonna change is its its fluids constantly moving based on likes. Challenges I guess we -- but the journey to the destination along the way you have to know what the pitfalls are and how do you avoid them and that's really what we specialize. And the key here is planning. You know we can't emphasize that enough you know there's an old saying that both killing and I used in our workshops and we meet with clients as. People they don't plan to fail. They just fail to plan. So you've really got to get into it you have to understand where you are. What you're trying to accomplish. And see if we can help you get there. And you follow along and learn out more about retirement -- radio by going to retirement destiny dot com. If you like to send us an email he can do so info -- retirement destiny dot com. And feel free to give us a call 887672122. You can email us info. Their retirement destiny radio dot com and find us online at retirement destiny. Dot com. And gentlemen there's a lot of information about retirement planning options and often those options can be misleading or misrepresented. -- today show we're going to be talking about the biggest retirement mistakes and misconceptions. And how you can avoid them. I Steve what are your. Well you know I'm doing missile launch time and thirteen years for me is a long time in knowing what it takes to get to retirement. I think one of the main issues for people today you'll two of them. One are there financially prepared. That's number one. And number two are being mentally prepared for retirement a lot of people think they are today. And the biggest transition I think very hard for them is going from an accumulation stage. All right of making money in eccentric. And all of a sudden 1 day it's Monday morning they don't have to go to work. Now they are retired. It's a distribution stage and it takes the -- while trying to slow down the spending who really does because now they have a lot of time to spare. So they're out there looking at this they're looking at that all by that golf club or need that new putter. Whatever the case may be all right so it's an issue for them to mentally get prepared for it and to -- right. Our problem today is that financially. People really don't know exactly. What it does take to stay in retirement. So those are the issues and that's where we come in in terms of trying to help them stayed there and make sure that they don't outlive their money. Kelly in addition to what Steve said it would be doing this a long time in the two things that make the biggest difference are obviously setting goals and priorities but really understanding your risks. And we spent a lot of time educating our clients on. Risk diversification. Verses asset allocation and most people probably so I don't know the difference there's a huge difference because once you get into retirement where you're relying on assets for income. Diversifying risk vs diversifying assets is a completely different discussion and most. Firms and most advisors out there don't do that and that's critical to understand the differentiation between you you have to take a look at what's. Funding used in retirement. Is it reliable. Because really what you need is to -- head on the pillow every night when you retired and know that you can maintain your lifestyle. Yeah and Steve we talk about it all the time retirement income should never be at risk in and those dollars. The dollar you're gonna count on and retirement and any other thing that that's kind of the silent killer that nobody's really talking about is inflation. And as we get into this we'll touch more on that but inflation is a critical part of this -- -- just treatment are you guys you know it's creeping because -- and I don't believe the figures that we get from. You know the authorities -- print them out we really don't think three -- 4% as the inflationary. Especially where they don't include some of the essentials of life okay. So you've got that. Also you have to take into consideration which will probably talk a little later is longevity. People are living longer. This is not your parents and grandparents retirement. Married couple today at age 65. Chances are 50% and I'm 50% of one of them. Will live to 92 so there's a 50% chance that one is gonna within 92. He -- longevity you take inflation to take higher taxes. And another topic. Medical costs health care costs. All right as the ones that can destroy you that can throw people into bankruptcy we've seen it happen time and time when we're talking statistically the fastest growing. Number of bankruptcies are due to medical bankruptcy and it's generally in the population of sixty and over because it's a medical. Situation that devastate them financially and now they're out of money they've lost a spouse and now they have to start over or -- live with their kids. Get all of those things can be mitigated those are the risks we're talking about not including. The risk in the market. And be enabled it to provide the ability to put a foundation around that safe money and that's really what we focus on. And you have answers parties you have ways to protect people on all sides. Yes we do okay there are strategies OK if people would allow themselves to make that as I call it that paradigm shift. The problem is people do what they did before they do with their parents did her that's all they know. So when someone comes up and says. There's something different that we'd like you to consider for your own good. Right they kind of back off a little bit and say gee I never heard that before why haven't I heard that before. Is this really true. So that's -- hurdle we have to get over and I think we do a darn good job of that because our main -- really in the beginning. Education education and education. And that's what -- provide you provide people the opportunity to come in your offices sit down. And have a discussion and you walk him through the process of again have a clear understanding. Of what their options are and how you can help absolutely yeah and again it's teaching them that you know if there's a better way to deduce. I think when you -- now and and that's what this process about that's what differentiates us from most of the firms. We look at that we can provide you with their retirement income cost analysis most people never done that. You'll take a fifteen minutes and we'll show you exactly what it's gonna cost how much you have and what the shortfall this. Because if you're counting on social security. And all the other things that are out there to -- to fill those gaps and you come up short. There's there's no other way to fill that -- -- you have to start planning for that now. And create what we call a spending plan or retirement income point. So Kelly talked to -- about the retirement portfolio guys -- retirement portfolio guy is a tool that we use for our clients to start the education process and it's broken up into several segments. It's not a difficult -- but it's really thought provoking -- the key is starting with the three questions to ask yourself. What do you need in retirement what you want retirement and what's currently blocking your progress toward those goals those are the three key questions that. We can't answer Steve and I sit down with the folks everyday. That's an inward looking question but you have to be honest with yourself and and answer those three questions before we even provide you any direction. Steve yeah everybody's different you know it's not something you can just take off the shelf and say here you go. You know put your name on it and go have a good time. Now you're really have to dig deep into each. Individual's. Situation before it can go further on that has everyone's retirement needs are so specific there're so many different nuances. Of various. There is it an and that's you know that's what we do read discuss. What people need to know. -- to retire and can maximize. Okay retirement that's what this whole issue was about in this particular guy helps them helps us get them through the process. And right now ladies and gentlemen you have an opportunity to get you're no cost or obligation. Retirement portfolio guide. And your retirement destiny consultation completely free no cost no obligation to. But you -- call before the end of the show 8887672122. That's 88767. To 4122. Do not live another day go by this is a tremendous opportunity to get peace of mind when it comes to your retirement so call now 888. 7672122. Nets 88876721. -- you'll find us online retirement destiny dot com and you can throw us an email if you like. Info every tire and it destiny radio dot com. Now gentlemen the average US retirement age has climbed 61 up from age 57 just two decades ago. Why is this happening. Well I think you got to take a look at the economy. -- When you take a look at what's happened. Let's say between 2002013. You had two periods in there. 200203. Where 80% of Americans lost hair for their portfolio. And then it repeated itself again 20082009. So if you had folks saving preparing. Had iris. 401K plans. Majority of people are we seeing do not have a defined benefit plan or pension plan so they were counting on those dollars to provide for them. Income for the rest of their life. Lot of folks have looked at that lost a great deal of value. And today 61 may not be the number could be 6567. We have some clients that are age seventy and are still working okay. Have -- put in some strategies for them absolutely but the mere fact of retiring full not worrying about it I don't think that's the norm today for our baby boomers I just don't see it you Kelly. No I agree and and most of it has to do -- market losses and the trends that have happened over the last twelve -- thirteen years. Because it they're there haven't replenished those savings you know that recent financial crisis. Left most of our folks that we meet with trying to figure out how to -- revitalized my retirement savings -- -- get back to where I was. But at the end of the day even if you earned all the money back you lost -- right back to where you were five years ago. Add in inflation. You're in trouble and I think that's why people are -- are working longer not to mention the fact that longevity is an issue and and they're concerned about not having the money. Now a lot of friends -- people think about retirement the usually say and number I'm gonna retire one of 55 -- on and retire after thirty years. But when actually reach that I deal aides are to be really ready just walk away from working a lot of people like their work to do noticing that a lot of the people which you toxic. We're noticing a lot of folks it dead semi retired and and then. Dad's home with mom and mom has her own game again she likes dad did not be there all the time advisors. Thought that's part of it that I think a big part of it again his lifestyle because most people want to maintain their lifestyle in retirement. And you've got to fill that gap Social Security is not was never designed. To be your retirement plan it was a supplemental income. And with the way Social Security's going today who knows what's gonna look like in ten or fifteen years. So I think that that's part of it. The other part of it again is is just how much income do we need most people don't know and that's why they need to take the time to come and sit down and and do that. If valuations so we can tell them what that income gap really is because. He's really built on a foundation of starting with your needs. And moving into the other things that you wanted to if you can't cover your basic needs with the money you've got creating income. You have to work. Yeah you know on the other thing to land. Is that. For the past thirty years of financial services industry has promoted methods. Of creating retirement income. That have worked in some cases. And other cases have not. In other words there's still employing the same methods as they did for a long time. What we fail to realize is that things have changed. The world has changed the economy has changed. You know when you take a look at the countries in Europe the effect that it has on our economy here. How can you still promote. Telling people sitting down with people -- they will get -- Past history says that the market will do 10%. If you take a look at them as killing and I referred to is a lost decade between. 2002013. That's not the number that was produced. And if if the income that people -- given a portfolio. With projection based on past experience of 10%. And you only had meat for. Guess one -- gonna make it you're gonna are -- on the money. -- ran the other thing that's happening is that you know that the retirement system in the United States is failing and has failed. And here's why thirty years ago our grandparents and parents worked thirty years of the company had a defined retirement plan and they retired and then they'd they died. And they were living his law. You'd probably days to work for thirty years you retire and then you lose 40% of your retirement assets in a market correction. How do you make their money back if you already go to work anymore you can't earn that money back. So it's critical that you understand. What the market does as is Steve talks about and what your ability is to move within those transit have a have a plan. Again most people -- become an end. Didn't really have a plan is not their fault. But at the end of the day they need to know that there are solutions. And there are strategies that are out there that will allow them. To live comfortably. To keep pace -- -- inflation and to make sure they can maintain that lifestyle because. The income needs are gonna change along that journey to the retirement destiny things happen. Kids come home. Kids can't get jobs after college granted -- divorce kids get divorced parents get divorce there's all kinds of things and each one of those bumps in the road. Can't sidetrack here your plan with respect to where you're heading in and what your income really is gonna look like. And folks are spending I mean because folks are living longer so we're spending a quarter of their life in retirement. Or else. And that's something that's happening more and more and more and why people need to plan and be serious about the retirement plan because. If you are living in your nineties odds are you don't have a solid plan you're gonna want to bring out of money. And then what what are your options then. Yeah and unfortunately. OK if people are making decisions. Based upon past performances. And opinions. On how the market is going to react what the market is going to do they may be in trouble. Because when you take a look at certain periods price for example. You know 1906. In 1924. We had a flat period in the market he repeated itself from 29 to 54. From 1965. To 1982. A period of seventeen years the market was flat. And we all know what happened in 2002010. So how can people rely upon income to sustain themselves as a we call it -- must having come. And that's why people need to reach out to you guys. Retirement destiny. Is at your fingertips right now by calling 88876721. Tweets to the retirees greatest concern is running out of money. There are plenty of strategies to help you turn retirement money into a lifetime of income the only problem. Most of these strategies do not calculate for inflation. We all know that Social Security is adjusted for inflation each year. So why wouldn't she want -- retirement plan that's also adjusted for inflation Steve Conte is the president of beacon retirement planning group. And co creator of retirement -- radio. Steve has helped many individuals and their families plan for the future. Let him guide you to a safe successful retirement. Having a guaranteed inflation proof income for the rest of your life can provide peace of mind for you and your loved ones don't let another day go by. Call now to schedule a meeting with Steve Conte right here in Austin that number is 88876721. Point two. Again 8887672122. And for more information or to register for free upcoming workshop visit us online and retirement destiny dot com. And today we're talking about how to avoid mistakes in retirement and Dick -- -- you give us an example of -- some of the folks you guys -- worked with. We've got hundreds of clients but -- story that comes to mind Stephen I worked with Rhonda Marie great folks came to us about seven years ago. Right after the first market collapse in 20012002. He retiree pension which today almost doesn't exist and had taken me Max -- on that pension. Which means basically when -- passes that pension stops and the big concern was how do we fill that gap. That income shortfall is something happens Stanford wife Marie he'd lost about 40% of its portfolio. Very concerned about risk and income and longevity so we sat down. Devised a plan with the with the long term strategy designed to provide accumulation and income. To make sure that they can do things I wanted to travel in the RV goes -- grandkids. And always fill that need that Ron had him even more so than Marie Marie had to run was really concerning -- -- happens to me. I want to make sure she's taking care of and they could just celebrated her sixtieth wedding anniversary. 1060 they've been together a long time. And so again we -- has to devise that plan for the Stephen and really. Give them that peace of mind when Steve always talks about you know -- -- later head on the pillow at night and know that. You have that secure retirement everything's in place and you don't want to worry what's gonna happen tomorrow because those issues. Are out of our control. Yeah you know and Enron was. Here's ticked off. He was ticked off that you know he lost that 40% what we tried to tell him was luck that's not your fault. It's not something that you did wrong. Okay. You can't control. The economy. You can't control the market. But you can't take control over your own destiny if you will over your own financial destiny if you give yourself the opportunity. If you are willing to look at other strategies and alternatives. So that we can now take those monies that are left over. They make sure you got enough cash enough liquidity enough for an emergency and so forth but take terrorists and say okay what is it that you try to achieve. More importantly what is it that you need. OK to maintain your lifestyle. And that's exactly what we did for them. And I think today if you know we we have done. A client referral list people call them -- call broad broad says and this is a quote this is chart whatever first evening Kelly tell you. Do while. That's his response. That's -- endorsement. If anybody who it is and again that's the relationship and and it's interesting because most people that are coming into this that are gonna call there gonna want this these retirement portfolio guys of that consultation. They're probably not getting that they haven't had that honest conversation with themselves. And if they're willing to take the time. To you to do that and that's important because at the end of the day you're not gonna get anywhere by standing on the sidelines waiting for somebody else to take the action. You have to take control and that's why we're here and that's what we do. And is really important understand that this is about a relationship BO we never talking errors today we can talk about -- returned. We talked about income the outcome is income and that's really what we focus. Yeah and you know the the problem -- that we see that a lot of investment plans assume a steady up Ford's market trend based on historical data. -- and which includes decades like the ninety's. Things are so different is different you know what's happening now all of those particular plans they're destined for disaster. They really are I gave you some statistics before about flat market we're in one of the that the sixth largest bull market since the depression. But what follows a bull market a bear market. Well Steve what's interesting if you look back the last decade we have this conversational time most investors have very short memory. And 2008. Was not that far away from 20012000. Do you look at where the markets work where they've been where we are now. You know I believe. Will Rogers said you know history may not repeat itself but it sure does rival. So we really. You know it's -- -- about it so it's -- enemy exactly the same but where in some really uncharted territory and begin if you have the ability to teach yourself and find a solution is gonna give you that peace of mind. And help you reach that retirement destiny that's part of the reason that we're we're in the process of finishing up her first book. And that book is more designed about not what to do or how to do that how to teach yourself there's an alternative there's another way to do this but. Most of our prospects have become clients have to get out of their own way and and I don't mean Canada that way Iran but they really have to figure out. Why they continue to do the same thing expect different results we all know that's the definition of what insanity correct so we have to teach them there's a better way and that's really why they need to take the time. To sit down come in and give -- call. And people have to be willing to change. And that's one of the most difficult issues that we have -- Accomplished here with our clients. It got to change you can't do that why you're doing the same things today she did maybe back in 1987. 2000 to 20032008. To 2009. What did that get you. Don't you think it's about time to open up your eyes and your ears OK and look at something different that's gonna help you. That's the whole issue changed nobody likes change but it's gonna have to if you gonna survive and what's -- issue apart. From other financial advisors I would say the -- processes that we -- Klein's theory it's almost a self discovery. It's not a situation of us telling you this is a way you're going to put this plan together. Because it's really predicated on their needs and every that's -- level we do and I've been doing this for 23 years. Every day is different every challenge is different no no one's single client has same exact me. And so building that model to their expectations. And setting a realistic expectation I think that's another thing a lot of times. Lot of these plans have been built on numbers that are never going to be achievable. And then they get to the end and figure out. Now there an edge of the cliff now what the -- -- this is serious stuff. It's it's not our money it's their money they worked hard for today and they're asking for help people need help. And they are realizing that we've been through a lot they don't see much in the horizon. And they know that they have to do something now we have to get the most -- that -- as I said before. Changed knowledge education well and and we tell them also information without implementation. Is useless. So you know it's up to them to take that step and that's what we're here for that's what differentiates us from everybody else and I'll throw one word character. You both have character -- thank you. The retirees greatest concern is running out of money there are plenty of strategies to help you turn retirement money into a lifetime of income. The only problem. Most of these strategies do not calculate for inflation we all know that Social Security is adjusted for inflation each year. So why wouldn't she want a retirement plan that's also adjusted for inflation. Steve Conte is the president of -- retirement planning group and co creator of retirement destiny radio. Steve has helped many individuals and their families plan for the future let -- guide you to a safe successful retirement. Having a guaranteed inflation proof income for the rest of your life can provide peace of mind for you and your loved ones don't let another day go by call now to schedule a meeting with Steve Conte right here in Austin. That number is 88876721. Point two. Again 8887672120. And for more information or to register for free upcoming workshop visit us online and retirement destiny dot com. Steve Kelly great show thank you pay your pleasure. Play a once again ladies -- makes your life and that website retirement -- dot com and call that number right now 8887672122.