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KJCE 1370AM>Audio on Demand>>Retire, Set, Go! Podcast 06/22/2014

Retire, Set, Go! Podcast 06/22/2014

Jun 22, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

Commentary contains opinions and analysis that are provided machines -- for informational purposes only. And should not be using the primary basis for investment decision. Please consider your individual investment objectives and -- just before making investment decisions Donald strategies discussed may be suitable for. Securities advisory services offered through BS our financial services a registered investment advisory -- -- by UN RA MS IPC. James Coleman invalid while Pelosi is not owned or controlled by -- our financial services and guess our financial services think is not affiliated with -- -- 37 -- -- And. It's time. Said. With your host certified financial planners chain -- -- Life doesn't stop at retirement change will guide you in making informed decisions about retirement investments maximizing Social Security. Protecting your family and harder to this day. Shane good afternoon -- Shane still evident you're listening to retired. This is the show dedicated to helping individuals especially retirees realize. The retirement is not the into the race the idea of retire set though he -- did you realize that retirement is the beginning. Of one of the CoreStates is it alive and you find at a time and the money. To go do the things you're meant to do that's my job on this show. Give you best in class ideas that you can make better investment decision then frankly stopped worrying about all this you know. Frankly you're job is not to worry about stocks bonds so security and pension decisions. Hopefully there's lot of people who come before you and shows like mine they can help you make this right decisions. And gain that confidence that you will have been come alive -- you can -- pursue those things that you're supposed to be doing. Now what are you supposed to be -- I don't know I mentioned last week I was really just. So happy to hear about clients who are pursuing things like taking Spanish classes. Gone back to UT taking lessons spending more time with family some clients who work and constantly on the road traveling. I don't know what it is for you and I encourage you spent some time with especially if your spouse customary. You spent some time thinking about what it is you wanna do when you retire. Because that is exactly what I hope we used to hopefully we can today if we get some answers. Think some of that burden off your mind as you can focus on what matters again many machines Sullivan diamond certified financial planner professional. If for eighteen years that's exactly what we've been doing we've been helping individuals like yourself. We're focused on retirement make better investment decisions that includes not just. Better investments. But of course avoid the missed the investment that don't make transferred Terry's. Maximize humor there income whether be from pensions or Social Security you know folks each week -- try to. Mention that there's over 81 different strategies when it comes to Social Security. 41 I think a couple of our. I'm guests who are people who wrote to us. Via our website ever tire -- ago and encourage you that what you even with -- listen to the show or perhaps have a question from another topic. You can give us a call 512. 7859876. Or to reach out via our website -- retire that go dot com. That's a whole lot of people are reaching out to us -- I think Alberto earning Caroline and Donna. Actually drew some other ones from previous. Questions non as Nancy with an ally in stormy and Chris are in -- -- -- bee cave in Austin, Texas area. All of those questions. Dealt all round Social Security. A lot of people are worried about this and I don't blame them this is a huge topic because it might be the only pension any of us ever received. But if the decision if you work two juniors a longer you've got to make these decisions and I saw encourage you whether the. This is why I think this shows so important. Because so much of when it comes to investing. Is these kind of boilerplate solutions the pie chart that we -- the and they Qaeda. -- a lot of people similar that's the only way you conserve billions of people -- is kind of given similar solutions. But I'm gonna tell you that when it comes to retirement planning a -- especially to Social Security. What are your single married divorced or widowed. Of the earned a lot of earned a little -- it matters. And it comes -- I'll play Olympic and about today is the trump family. Donald Trump will no -- -- not just for being a billionaire. But he is also the very public celebrity lifestyle his children on TB his children are all grown. His public his personal life has also broadcast all over. Radio and TV is now eight. That was you married to famously married to a lot of trump. He also was primary tool on any Marla Maples as well as his current wife Milan Villa. Who's I think you miss universe contestant. And they have a little boy. By the way all four of them we're gonna kind of walked to the trump family and recognize the knowledge Donald but Obama. Marla and maligning all have some decisions to make -- accounts of security at each for each of them the answers different. That's exactly what I'm trying to showcase today folks. If you know someone. Who maybe has been married. Or divorce or maybe you yourself are considering a remarriage how many -- you listen to the show this to the show for you was we uncover some of these topics. In the meantime -- a kid again I'm an -- go to our website because there's often opportunity for social security and now this. Mentally when it comes -- conference -- security -- in his 81 different choices. Most of them are not right for you but when it comes to the ones that are. It's not one answer this to a three tournaments. And I wanna make sure you know before you make your next decision. You have -- least reduce the choices down to two or three different options and make sure you're getting the most. And maximizing with the securities available for you folks I'm glad you're here I'm excited about the show. In the meantime give us a call five -- to 78593. 76. We come back this talk about Donald Trump. What about those experiences for him. Retiring soon I think you have a number of critical decisions to make -- affect the rest of your life. Pension choices health insurance Social Security income strategies. Get your answers and plan started today decent pitching Sullivan at Belle haven well dot com. And tune in every weekend for retire said go. Here on talk thirteen seventy. Lots of money. Welcome back to retire should go -- exchanged -- once again use Shane welcome back. Talk thirteen seventy and mrs. retires that go. I'm your faithful hosts chain -- and I am a certified financial planner. Professional here Austin, Texas we also have offices down Harland and and McAllen -- I think you all or continue. Listen to the show reach out to us as both come visit us a lot of people about for planned. Are asked for specific. I'm solutions for what they're trying to the challenges that there they find in their own lives but we're dedicated help retirees make better decisions and today is no different. We're very excited talking about social security and I'll tell you as I watch shows like modern family -- just. Life I am constantly. A lot because -- kind of point that my wife you know that's exactly the situation we have here. Donald Trump is a great case study when it comes through some of the different decisions we have to make when it comes to Social Security. -- -- kind of step back and make sure we understand we all Hobson. Similarities to each of the characters or talk about this case that he first of all we're all eligible if you -- juniors or longer I'm on half. You're eligible for Social Security of your forty quarters. People are eligible for Social Security since as aged 62. And and that amount of money that you're eligible to receive will continue to go up until age seventy. The case of the Big Three numbers of people think about it 6266. That's which considered for terminates. Or you can continue to do -- for the defer and wait let that pension go hire a seventy that does not -- -- go up after seventies and no one -- that moment. And frankly few people wait that long anyway. So let's focus on this Donald as soon as he's eligible for Social Security just like the rest of if he had the -- show takes Social Security apple retirement age. Let's make the math easy let's call a thousand bucks a month 121000 dollars a year or city ticket early. He takes barely get to 25%. Erica. No pun intended for Donald Trump fence so he got seven or did you dollars a month which is 9000 dollars -- what would you choose which do you think about it. 9000 dollars a year it's 626360. Fours 65 that's would you rather have a 36000. Dollar head start. Or wait. And make 3000 dollars more a year starting age 66. A lot of people think your point about it of course it doesn't matter. I would tell you that a lot of people most Americans are particularly. -- hand mentality. And I'm I think that's right or wrong but for -- not right for everybody but I understand and because if you do decide to wait for a 66 or Donald way to 56. He won't breakeven on that wager until he's into his late seventies early -- So by the time he's maybe even -- makes 3000 dollars more a year it would take them long time to catch up with his younger self. Who took early with a 36000 dollar headstart right. But that's not all -- not to consider. You know he has been married before -- -- know the love we have on -- we all know of honesty is -- only just his ex wife but a public figure and successful in our own right. And he also remarried he married a woman named Marla Maples of course that marriage supports -- did not work out. And if I found true love I guess with his latest current wife Bonnie. Who the beautiful Milan Villa whose age 43. And they have a young child. Believe it -- -- famous parent and that an eight years old. Now a lot of people would immediately think that -- his work eligible for Social Security because she is 43 years old floor early. But they have a child. Because Donald a lot of people think about when I had some have to pass away like if I died in my younger children get some kind of Social Security benefits. Death. You don't have to the how to get that benefit. You're entitled to a child benefit as long as you have children eighteen or younger and your health -- and you yourself for eligible for Social Security. So Donald had a choice I could take it a 62 or 65 but might decide to go and get started now yet the considerable help with my child. Because as if if you wait too long and his child out of the house or over that magic age of eighteen. Then he no longer it's eligible for a child benefit. Acquitted only Malawi has also eligible for benefits by the way to tell benefited equaled it's as -- an amount equal to half this. Protect equal to half of his benefit that he's eligible for thousand dollars a month. Keep that the boy would get 500 bucks tick the 6000 dollars a year but thought checks covenant. Oh but I am because -- is the mom and she's a stay at home takes care of the child she's also eligible for a check even at the age of 43. As long as. The thought that their son is in the health update sixteen. He gets a little complicated but I -- encourage you I know allotted not a lot of dads. Who have kids in their -- that you've had children out the age of 44. That's essentially. You're very likely you consider to in my eligible for -- child benefit or even apparent benefit that's the case a moron yeah. So you can see right there that's not just develop me should I particularly should articulate. It's not here and I'm a vacuum the fact is that you have a lot of other people realize. I know a lot of people who work who have been married who have remarried. Maybe that does not matter that child is a step child adopted. It's also true for grandparents a lot of crap parents unfortunately. And up to be proud of that. Outside of the some tragedies that do happen to people but if you're a grandparent that means your old tool for social security and you are raising your grandchild. Did you know the Euro also probably eligible for another check. For the grandchild while there are eighteen or younger -- are still in school. Some folks that display you know that there's a lot to Social Security. And the guys were encouraging go to our website retire sec ago. Now is this podcast on there but there's articles and videos things that help you start to learn more about your options. Most importantly all I can give you on the show is a lot of ideas a lot of information. If you want real advice and encourage you. -- -- take advantage of our Social Security analysis it's free. That is my favor priced free audience to do -- ask him will be up to walked a couple of simple questions. Typically age when your benefit looks like and then some of the other family dynamics. We put together some solution to what I like about the analysis. It doesn't say this is what you should absolutely do. But it says here's to a three ideas maybe didn't consider here is your best to three choices out of 81 possibility. And help you start to make better decisions. Now we -- to begin the show that. You know Donald not the only character in the show a lot of clients through the Obama -- have a lot of clients -- the Marla Maples. So when we come. As we go do we get ready for the second figures show -- it's just -- they get about people in your own life saving you know some has been the worst. And they give let's listen the second segment shows that we can help them out as we come back we'll talk about Texas thousands and the benefits they deserve. For tires that go. Retiring soon I think you have a number of critical decisions to make -- affect the rest of your life. -- choices health insurance Social Security income strategies. Get your answers and plan started today decent pitching -- -- at Belle haven well dot com. And tune in every weekend for retire said go here on talk thirteen seventy. Welcome back to retire said. Go -- exchange Sullivan. Once again -- shame. What about folks is changed -- and you -- he retired -- I wanna remind you we're here every Sunday at 1 PM. Trying to help investors prepare for what I think to be one of the most exciting stays alive. Which -- retirement get some of these financial questions out of the way so we can go focus on the things that matter most. But some consulate reminded. That life is short you know we work work work. And it's by it's file your turn to go play I wanna make sure you go get the most out of that ambush in the Muslim. In order to really enjoy retirement you need to have some confidence. And yeah I mean she did I make sure the your finances are put into place put in place in such away that you have a confidence that you have income pro life. So you can go focused on being in that other person that fund guy. Fun woman go become a rider who has been touted her family go do all of these these are real idea that I hear from my client that I want you. Of course if you're gonna go do these things is critical over the money. And today we're gonna focus on Social Security you know as well the most misunderstood. Oddly it's the most misunderstood things that benefits that we all will enjoy. But it's the only -- many of us will ever receive but as today and America's we have the more modern family more more strategies. Are developing. -- make sure that we're thinking about them is that they may apply to you and the first segment so we talked about Donald Trump not Donald Trump has been married a couple times quite a character. And he's eligible he's got a lot of those criticisms the mic for his own life. But a lot of -- unique situations -- he's married to someone a little younger and they have a small child and helps. But let's not forget some of his ex wife's. The ex wife's clubs and can be expels club bottom serviceman or woman. The reality is he married a woman name of mono a mono was a model the Czech Republic she is an American. And she they had a number of the report children who are all adults now. Obama as well the -- the Marla Maples that -- call. Now first thing you understand is -- the cult of spousal benefit. -- -- -- -- married all without a decision to make when it comes time for return Social Security. I can take those security errors early 6270. Based on my own work credit whatever whatever money I put into the system. However if any of you are married you have a second option you can also take an amount equal to half. Of your spouse's benefit so that filed with eligible. Let's just say for 500 dollars a month. But half of my spouses checked. Amount of 600 -- I'll take my spousal benefit. That's important to know. I cannot tell you as the professional practitioner and Austin at least once a year -- me a sweet family. And there are married how we everything's going great. And she is not collecting her check and -- thinks she because she stayed on the raise the -- that one ever put money in the system. You're still eligible. For spousal benefit it is a matter. That he gets his full check and you get an amount equal to half. And that traditional case however a lot of people think well what happens when you divorced. Well in my maples case she was not married for ten years so she's. So. I hope we've got a good settlement but there is no Social Security benefits for Euro. And by the way when -- to benefit this does not reduce Donald Trump's benefit are any spells that it. This is that checked and -- another check -- that those cute administration. However a bottle was married for ten years of -- it is eligible for what's called an -- spousal benefit. It's really the same benefit that doesn't matter if you are married or not. If you were married for ten years Social Security Administration still. Gives you an option you can take your own Social Security based on your own work credits. But he can take it -- equal to half of your ex spouses. A lot of people don't know that. A lot of people walk away from a lot of money -- Or maybe they're settling for less because they didn't have a lot of years in the workforce so their check is smaller than that what they could be receiving. Now this is something here's the thing insisting though. A lot -- with a choice actually -- on it does have some Social Security benefits on our own -- -- as though branding agency she's. Amid branding line yes her own money so she has a choice should I take early 62. Think it for retirement 66 argued even a bigger check which -- 33% higher. At age seventy. What she can do is use in the color restricted application. Now that the dip -- word restrict application which basically says look. I'm gonna let my benefits continue to increase while I take my spousal benefit now in other words your family can stop the benefit from. Donald -- Which is equal to half of his checks that he's giving a thousand dollars. I'll take my 500 box and let my own benefit continue to increase and maybe claim that I can jump. Back over on my own letter like that that confused increased to amount I think it's great. Now always who has just that easy with Tucker well lot of options here but of unfortunately. A lot of remarried now that it's a little comic hero or relax a -- married twice humanity and -- Ricardo. Well I didn't last very long so she was off the -- you get remarried. You're no longer eligible for spousal benefits -- from your ex -- that ends and now you're kind of on a different. Family tree so to speak so you need to make a decision. Because. I actually Obama did the Federer merry that a third time. And this time I guess you marry for love because she -- someone for twenty years her hurt her junior. He's in his forties she's in her sixties. Obviously. This gentleman's not eligible for Social Security says she is no longer eligible for Donald Trump's ha -- -- equal to half with Donald trumps of security. And her current husband is that thousands of security at all and won't be for another twenty years -- ourselves. So she is only really left with her own options what she -- takes a secure our own. I say that because it it matters and I'll tell you what matters because I know a lot of a lot of people. Who are retired and considering a second marriage. Obviously there's lots of things that just happen to people as and they I know a lot of retirees who living communities with a lot of other retirees. And the fact is three marriages apart life. However I do think it's important if you know someone who's -- first -- divorce make sure they hear she knows that they're they have the house some additional write. The other benefits they may not be considering. But equally at they have considered those ideas they do know that there are eligible for additional check from the security. Make sure before they go get remarried. You know what those checks stop. Now offered the Obama -- he's a billionaire I don't think it matters you know I don't think she's really make an -- decisions based around. A thousand dollars or five dollars a month Social Security. She's in a different tax bracket. But for many view that might be a critical part of your income solution and I'm. Bombing -- trying to get into a moral discussion whether or not what you should do of course whether remarriage and for religious purposes. But I do worry about when it comes to making you offered to put together an income for life strategy. Before you go before your CI -- again you might want to make sure you've done -- full analysis done. I by all means I think there's a lot of benefits of marriage but I do wanna make sure that you understand it could cost you. Some do it could cost fewer cuts that would remove some of your options. That's one and encourage you go to our website retire Psycho there's a free analysis available to each and every one -- you. And it not just telling their decisions that I absolutely wrong but maybe two or three ideas you haven't considered yet. I'm also gonna encourage you want you there a lot of people including -- plummeted before Nancy with -- I. Stormy Chris are you lineman Keith I want to thank them those are from the Lakewood area. Who went to a lot seminar on an encouraging go to our website -- they go we have seminars console -- All over the Austin, Texas area. Our next one is up in round rock so if you're in that area if your cares about going to our events. And learning more about just not to Social Security but all things retirement. -- you suffer so I want to thank you for being here this week remind you that we hear on talk thirteen seventy every Sunday at 1 o'clock. My name's -- -- Commentary contains opinions and analysis that are provided machine -- for informational purposes only. And should not be used the primary basis for investment decision. Please consider your individual investment objectives and results as before making investment decisions Donald strategies discussed may be suitable for all. Securities advisory services offered through BS our financial services are registered -- an advisor member and fighting in RA MS IPC. Gentlemen -- while Pelosi is not owned or controlled ideas are financial services it. Because our financial services think is not affiliated with -- -- 37 --

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