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KJCE 1370AM>Audio on Demand>>Retirement Destiny 12/14/2013

Retirement Destiny 12/14/2013

Dec 14, 2013|

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Automatically Generated Transcript (may not be 100% accurate)

Welcome to retirement -- reading the percentage but I do you can retirement living room the retirement incomes -- Providing solutions to all aspects of your retirement needs wants and dreams including -- and Medicare as security planning. This is retirement testing every day. Some folks and we have to work well into their eighty -- if they want to provide for any kind of golden years. Have enough money to retire. It's going to want to save save save save things that you know if you're gonna need that money to supplement their retirement woman. I guess -- radio my name is -- lit along the creators of retirement deathly radio mr. Steve Conte. President of the -- retirement planning group and also Kelley Carter the CEO and for over twenty years. Their mission has always been ensuring a secure retirement you can find us online retirement destiny dot com if you like -- -- us -- -- you can do so. Info at retirement destiny dot com and our phone number you're gonna wanna keep this -- we have a very special offer that is going to change your life. That's whimper and a gentleman -- gonna change folks' lives keep this number 88887672122. That's 887672122. NB topic of today is Social Security planning. Over ten billion dollars a year in Social Security benefits go unclaimed because people do not file the right way why do you think this is happening Steve. Lack of knowledge. They don't know what they can do how -- or plan. And I think it's very important I think it's a room we were looking forward to the show. We've given several workshops on this particular topic. And the first thing I think we like to address you know that 900 pound gorilla in the room and this is the number one question we always get is. Will Social Security beat the air force in the future. Now I don't have a crystal ball the only thing I can do it is to reiterate an article that came out. Back in April of 2000 the projected point at which combined trust funds. We'll be exhausting comes in 20333. Years sooner than -- last year at that time. There will be sufficient noninterest income coming in to pay about 75%. Of the schedule benefits. So what we're hearing is they're not taking it away. It's gonna be around at a certain point they're gonna have to reduce benefit we don't think it's going to be for those. That were probably born between 1943 in 1958. It's probably gonna be today very younger person. Who is not fifty right now and may see some of these changes so that's the first thing. Well and before you want to do I think the other critical point your attitude back to -- point is. With with that said that's a concern but the bigger issue is that there's over 300. Different clinging strategies. That most people don't know about for example if you look at a married couple there are 81 different strategies. On how to claim Social Security you know most people don't know that didn't hit it that no one not knowing anyone and that's why we have the tools for example we have eight software it's called a Social Security explore. That can help figure out he's 81 different strategies depending upon how well they are how long they expect to live. Where theorist Social Security benefits going to be an eccentric so it really does address. Some of the concerns of how much -- I expect to receive more importantly when should I apply for Social Security. And how can I maximize. My benefits that's the most important aspect we wanna get people to maximize those benefits. So we can provide let's say for the other strategies shortfall. Filling that gap so we can put everything together to maximize your total. Retirement benefit now -- social benefits are designed to supplement retirement income pregnant too often people rely on these benefits. As their only cash flow and retirement. What are your thoughts on that well you know it all depends what position they are when they command. I mean some folks unfortunately that's it if that's the case and it really is our job to help them with budgets debt planning. Eccentric sector. If we can. Final folks. That have been taken there or have taken we can perhaps maybe work with them. In terms of taking Social Security. Applying them to their their other investment portfolio. And shoring up that portfolio from future losses with the market combining that plus Social Security can't give them the benefit that they probably didn't think they can receive. I gentlemen we all know it's Social Security was never designed to be someone sole source of income in the retirement including command that actually signed the social security act and right now would get a clip of FDR. Back in 1933 from the signing. Okay. Although many years spending it in law. Assimilation of the past hundred years -- to stop -- industrial and changes peasant and then there are more I don't make life. Young people overcome the one. Could -- -- okay the man for the job. Another one bad call on the job that's that's so true. Security measure gives at least somber reflection do better pay millions of that is. You know generally one of the things that stands out from that speech he gave is that it was to provide some protection to our citizens and yet it's actually it is we talked about life's insecurity. Here we are 180 years later. And we're still having this discussion. And things are somewhat better somewhat worse and lower than that you're right it was never meant to be the foundation. For retirement income that was supplemental it was to provide. -- resource and gap all those years that you worked him the retirement system in this country's failing its young individuals in in the policies and procedures and at the end of the day. There -- thirty years. Who is 40% of their money in a stock markets that they have no control over paying higher taxes and they're gonna council security is only retirement plan not -- work Steve. The I agree that's that's why it's so important. That if we have retirement sources that have. Experience that hit it's your very very important number one to make sure that you understand and realize what your benefits are. With respect to Social Security because you're gonna have to get as much money as you possibly can't -- that that's number one. And number two we combine that with this Kelly said before strategies that will provide safe protection for your money going forward. So if we can combined. -- safe protection aspect of course the strategies that we've employed every day for the past twenty years or more. Okay along with maximizing your Social Security benefits we're gonna be able to give people a lot more than they thought they could have had. Well and let's be honest we're we're back an all time -- in this market with unemployment. Interest rates through an up. You know the stock market can't be going up like this forever and and you know investors have very short memories and the pain felt in 2008. If you're in a five to ten year window we've called retired risk zone you're getting ready to retire. And you lose half your money in the next market correction I don't know when it's gonna happen. But I guarantee you we're gonna see -- some point and it could financially devastate. Those folks that are in or near that retirement and have to force and continue working or take other measures that -- part of their plan because they really -- point. So you know we see most people coming in and they assume that you take Social Security right away 62. In many times that's not the best way to do it. Social Security went from a safety net to a primary source of income and that's again we talked about that's not what it was designed and when we react we signed. By this time you're being able to collect Social Security. You're supposed to be dead. Yeah yeah I was like yeah bankruptcy in 1933 of mail was about 58 years old. So when you look at the life expectancies and a look at win the full retirement age was to be reached. So -- did add up and and they weren't getting on people living in there eighty fives and and they're ninety's. On Social Security alone and manufacture all the other pieces of the equation with respect to the economy. Fewer workers 101000 people a day turn 65 for the next eighteen years. What's -- do in the Medicare. Was doing the Social Security what's that doing this state budgets they don't have any money in and the federal government is printing money faster than I can spend it. We got some real problems. You know back in the late forties early fifty she had about sixteen workers. Supporting each retiree. Today you have 2.3. And it's projected in five years you're gonna have two point one. So we have a problem here. All right this system is is is overtaxed. They're doing what they can they're robbing Peter to pay Paul for it but he can't. As I said before I don't think they're gonna take it away. You can't take away a benefit from the largest voting bloc that exists in this country today. Great point what you do. To be able to help these folks out I know that you guys are giving away right now for people that are listening that call 8887672122. The Social Security claiming guide. And this is people like got an idea -- different avenues that kind of sets the table for the conversation. When they can win. For no cost no obligation retirement destiny consultation that you guys are offering to help get them the information they need to get them on the path to have that secure retirement. -- -- talk about what's gonna happen when the folks command for that meeting. Well we're also gonna gonna sit down we're gonna run Social Security explore report for them which is gonna go through all seven Social Security strategies. 81 combinations in the 567. Sets of calculations. And show them the best option. Based on their particular situation. We also go over these that are our workshops are being held around at an Austin and also in San Diego. And we really focus on these issues regarding Social Security -- nations. I think people after have to know what their options are what their alternatives are they don't know. You know they don't know for example that. When you reached for retirement -- let's say it's 66 for on to its purpose is here. That they don't have to claim that. They can postpone it. Delay it and they can delayed until age seventy and every year that they delay up to age 78%. Increase. And it all so that 8% does not include cost what it. So that's a tremendous difference from you when you look at you can probably increase your overall benefits by 32%. And and on top of that cost of living so it's important to know what to do it. It's important also to know that spousal benefits. Are different as well. There are things where espoused and it's at age 66. To a restricted application. File for her husband's benefit. Have her benefits grow until -- and then -- seven they take a look at which is greater and employ that strategy this is what we do okay. Now not everybody's got 300 different situations. It depends upon your age. It depends upon the amount of income that you're gonna receive from social security and also depends upon and Kelly pointed out and we've got -- overemphasize. How long do you expect to lift. Because our report will estimate well I -- people. How long do you think you gonna -- what age that also gets put into to our particular program our software to determine that. And that could help when we ask that question now people really start to think it's still my guy. I didn't realize that that much was involved. And ladies and gentlemen it's obvious on why you need to call Stephen Kelly. This is a fact over ten billion dollars a year a Social Security benefits are left on the table as people are handling it the right way. You can call Stephen Kelly right now featured no cost no obligation retirement destiny consultation. You get your free. No obligation Social Security claiming guide. And you can get your retirement peace of mind set. By simply dialing this number 88876712122. It's 88876721122. And gentlemen we continue on the topic of Social Security. And let's discuss what factors need to be determined before someone starts collecting Social Security Steve. Well ages want. The need for incumbents to. If you divorced three. Divorced with minor children. So there are a lot of factors -- we see a lot of gals nominee in those letters of widows. The single single gals divorce. Who don't really understand because they're husband handle all that. And if she really doesn't have any idea and is not getting the right advice to be able to make the right decisions. So they end up doing nothing at all when an old analysis to paralysis and really don't understand that the Social Security Office -- folks down there but they can't give advice. Now they can't get device you know with with respect to divorce. The folks usually espouses of of the mail to divorce situation. I you have to be married to that individual for at least ten years that's the criteria. Are you can't be married. But you know you can claim. Your husband's Social Security benefit and that really is available to them at age 66. So they 66. If they were married for ten years. The spouse -- doesn't affect his benefits even if he's collecting and it doesn't affect him if he's been married two or three times it doesn't matter. K the matter is that that benefit is airfield and if you have minor children. From that prior marriages can start collecting benefits as early as age fifty people don't know that. So you have to -- you have to sit down. We have the software we have the information. We spent a lot of time and effort to making sure that we can give that advice. To our clients to try to supplement the other strategies that we take -- through to ensure better retirement for. And you do and clear and concise manner you're you're able to convey these messages. Unlike a lot of other folks in this industry you have noticed about you guys. You have a very you know it's very good to be -- across from you because the way you explained things it's just so clear and concise it's a tremendous asset. And it's something that people really can tap into and really get. Full knowledge of what their options are. Well thank you we appreciate that I mean you know that's one thing we really should she -- -- on that because this this process is an educational process I mean you know we look at the recent study that just came out that. Found that people who -- a 100000 dollars a year or more closer you know the highest -- year while they're working more likely to start taking Social Security right away. And can't and not implemented any type of planning strategy retirement income plan. And these are the individuals that are losing tens of thousands of dollars because it believes a security's going broke. And that it's not enough money to make a difference I might as -- get it why can't. What they don't realize is that by delaying make and receive more money per month over the rest of their life and when you incorporate that with a true retirement income points. Which is an address your riskier volatility. You or longevity. And you need. We can put a better way to place to put more money in your pocket during those retirement years which is what retirement supposed to be about it. Social Security is not to be looked at extra money on our own money that we can use just for vacations. Social Security has got to be integrated in your retirement plan. It's important dollars it's reliable dollars so we have to sift through the unreliable and unreliable possibilities for people. And put that in that category and we got a lot of other strategies that we'll take your other. Retirement investment in counts taken Manny unreliable columns OK in into the reliable columns so that they can do what they want it to you. They can maintain the lifestyle they want to. They know some people start drying their benefits as soon as possible and invested in hopes of making a greater return. What are your thoughts on that. Well I can tell you based on. You know based on history and what we've seen over the last when he pledged years. Take that money and putting in into the stock market again where they really don't have any expertise. And open -- gonna make money and -- at the end of the day if that money loses 40% of its value and market correction. You just give away forty cents of every dollar you worked thirty years to court. So again you're not guaranteed return however if you delay taking that benefit. To 870 especially if you don't need the income to make ends meet we can find other solutions using other assets. Not if you're looking at a about an 8% annual rate of return on that money by waiting so in today's world what are you doing what's growing at an 8% guarantee. Not my here. All I -- -- -- -- -- Should enjoy it very very good boy it's important that you know the ability to delay and he's gonna be dependent on. Back to what we talk about that foundation what have you done in your retirement plan. To provide those guarantees that you know take any risk -- you don't lose any money. And that's important so at the end of the day that's critical in the decision. Whether -- not to take it or is that Wright State actually planning planning planning we can't emphasize enough planning and people think. Well I put a plan like -- walk away from now. We meet with our folks quarterly semi annually whatever is comfortable for them okay and we go back to that plan how is that plan working for. Has there been any changes because life does change nothing stays constant. All right so we have to make sure is that what we put into place is working is gonna continue to work for them. That's you know that's -- hard of this as well it's just not putting it in place is saying -- have a nice day is putting in place and checking it from time to time as and that's why are. Our workshops have been fooled because people are looking for answers in and it's important it to come to one of those workshops orders that are private one on one consultation. For us to be able to give you that information so that you can make an educated informed decision. And you can find out more about the Social Security seminars like going to retirement destiny dot com once again it's retirement destiny dot com they're happening frequently. Log on retirement -- dot com. And now something else that people need to realize that once they file social security and they've got one year to make any changes. That's it they've got one here once you're past that one year mark. They're stuck with whatever they've had decided to go with -- that's -- to readjust if somebody is just filed -- is within -- one year window they really need to get on the phone -- right now. Well let's direct our -- and that we can't emphasize that enough. I mean after listening to this. If you were I had some of the workshops that we have put on recently. You know we told that two people I can't tell you the number of people have come up many appointments to say you know I didn't realize that I didn't realize. -- I'm divorced I didn't realize I can claim his benefits my god thank you very much needed the money eccentric center. So again it's important to really you can't do this a wall. It's impossible you're working you have work he got a lot of things going on your wife kids grandkids traveling whatever. Don't take this stuff on yourself. Get some help we're here to help him. And right now we've got -- no cost no obligation opportunity. To get bad guidance tap into the decades of experience to both Stephen Kelly have. Call now 8887672122. 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 beacon retirement planning group and co creator of retirement destiny 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 -- here in Austin that number is 88876721. Point two. Again 8887672122. For more information or to register for free upcoming workshop visit us online retirement destiny dot com. And gentlemen the decision for single senior citizens on whether to collect boils down to whether they need the funds to make ends meet. But from very people it's a little bit more complicated as we've been talking about throughout showed her 81 different strategies on how to claim Social Security for couples who are married. What suggestions do you have for people that are in need. If there's there's a couple. For example to common strategies for married folks. To get the most from Social Security is to file suspend and what we call kind of double dipping into the system. Both strategies are only for couples that has other financial means outside Social Security. Now what happens is you know when folks need the money a little early. You can have the younger individual the younger spouse said sixty to file for early benefits. Have the the older fellow or the older Fella. Usually -- -- bella OK okay in older woman it could be I'm sorry but you know I'm I saw a graduate. -- -- have the older spell -- today filing suspend. Which means that he filed suspend which gives him the opportunity -- that individual the opportunity. To wait until age seventy and a crew as we said those delayed benefit credits at 8% per year. That's a 32% increase right handed bat with respect to that plus hole. So there are opportunities that at 66. That woman who was collecting early can stop that. She can also -- restrict the claimed he claimed half of his and we chief becomes. 870 she has an opportunity to go either way so again there are strategies for folks to look at. Well and and what it does brand is so -- that couples start getting some Social Security benefits. While still getting the most out the other benefits down the road. So they can use that money for you know. Whatever purpose they wanna use that is as a slush fund to go travel see your grandkids take you know. Crews do whatever it is they wanted to do knowing they're gonna have additional income down the road it's gonna turn on and an -- that inflation factor. Again it's all part of that overall retirement income plan. Now can delaying Social Security help with taxes in retirement. Absolutely yes he can't because if you start taking Social Security early lets see you working. All right at the end of the year it's ball -- Maggie is I refer to modify it. Adjusted gross income it's an area that you go through depending upon how much you make. All right there's a two tiered. System here forever. Up Q what is it 32000 dollars added there's there's numbers and never the main issues that 1585%. Of your Social Security can be taxable. Based on your earnings and also on the ability for example if you have to take extra money -- -- qualified plans to fill the gap. That money comes out as ordinary income which means -- paying taxes on your social security and I can't tell you how many people come in to office and are ticked. I mean they are in there hot under the collar. Because they're paying taxes on Social Security in their -- will definitely pay taxes on that money follows years ago. And they don't realize that there's a few tiered system now with respect to Social Security. Four. Taxation ordinary income. It's true now. There's also other ways to minimize that when you're when you're working and you're taking Social Security have to look at your other sources of income. All right another words dividends. 1090 -- from your CDs Excedrin and center so what we advice people to do is to take a look at other strategies. That will eliminate those 1099. Coming here every year again another opportunity to reduce the Social Security tax yeah and the biggest beneficiaries of delaying Social Security or those retirees have portfolios between 500000. Upwards of nine -- -- more. Because that provides additional tax deferral we can create income strategies. That are also -- protected during these volatile markets to make sure. That that money is gonna be there when they needed and that's really what this is all about. And best advice they show can provide is don't let another day go by absolute. Because when it comes to Social Security hasn't been saying over ten billion dollars a year in benefits are left unclaimed. Unclaimed. You guys can help folks would all aspects of the wealth management. But you really can do the job with social security and help them maximize it and help them get the retirement that they want. And if people call right now they've got a call right now because we're at the end of the show. On your offering them the retirement destiny consultation at no cost no obligation -- can you speak about what's gonna happen. Only come in we're gonna sit down and have an honest conversation about where they are where they're going in and what their biggest concerns are. Again we can't tell you how much income you need or want it until we actually get to sit down and have an honest dialogue and that's where it starts. And Andy did dialogue has to be. Both ways meaning that you know you go to your doctor you're looking for. And answers something's wrong you have to tell the doctor what were your symptoms you tell us your symptoms will LP devise solutions can fit your particular situation. But he's done and this is a tremendous opportunity for you to take advantage. Of all the wealth of experience knowledge and character the both Steve and Kelly have they've been doing this for decades. 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 beacon retirement planning group and co creator of retirement dusty radio. Steve has helped many individuals and their families plan for the future let him guide -- 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 88876720. Win twenty. Again 8887672120. And for more information or to register for free upcoming workshop visit us online at retirement destiny dot com. Steve Kelly great show thank you pay your pleasure. Layup once again ladies don't mix your life and that website retirement deathly dot com and call that number right now 8887672122.

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