Winning in Retirement

The Believe it, Achieve it Retirement

• Akers Financial Group

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Retirement planning is crucial for financial security, and it's important to start early and understand one's financial situation. Brian Akers and Alex Monk emphasize the need for personalized financial planning, tax optimization, and regular check-ins to ensure clients are on track towards their retirement objectives. They also discuss the importance of imagining oneself retired to help visualize the ideal retirement and make informed financial decisions. Brian and Alex highlight the significance of saving money, understanding investments, and finding a balance between enjoying life now and saving for the future. They also emphasize the importance of actively managing money, building protected and at-risk portfolios, and designing retirement income plans that consider taxes and inflation.


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Unknown:

The following is a pre recorded Show. Welcome to winning in retirement with your host Brian Akers, CERTIFIED FINANCIAL PLANNER professional and founder of Akers Financial Group. Now helping you win and your retirement, here's Brian Akers.

BRIAN AKERS:

Welcome to winning in retirement. I'm Brian Akers from makers Financial Group. I'm president and founder of Akers, Financial Group, Certified Financial Planner practitioner, and so is our co host today Alex monk, Certified Financial Planner practitioner and financial advisor from Akers Financial Group. Good morning, Alex monk. How're you doing today?

Unknown:

Oh, Brian, I'm great.

BRIAN AKERS:

All right. I hope you're wonderful. Marvelous. What's what's your favorite word when describing excitement for like that for you?

Unknown:

Someone, they always asked me, How are you doing? I said, Well, I'm tall and bald, and I'm beautiful.

BRIAN AKERS:

Then they laugh. Like, why did they laugh? take you seriously, it

Unknown:

just depends on the person. All right. So we,

BRIAN AKERS:

we want you to listen to show. It's one of those things where and life, you think about things. But then you live your life. And then you look up sometimes and think about your future. And then you go back to living your life. What we want you to do is this, we want you to think about your retirement. And you actually have to believe it, achieve it to be able to build that retirement. And so we designed a show called The believe it achieve it retirement. Is that too corny for you? It's

Unknown:

like borderline I mean, are you sure though, right? Like we need like someone comes in, they sit down in front of me. And I'm like, What are you doing here?

BRIAN AKERS:

Do you really say that is? Okay.

Unknown:

I want to know, like, what makes you tick? Yeah. This is the retirement is different for everyone. Like some people like horses, some people like boats, some people like golf, some people like pickleball. Yeah, I mean,

BRIAN AKERS:

more and more like pickleball until they get injured, which there's lots of pickleball injuries currently, Cripple ball, they say triple ball. And I heard that one recently, I have had four injured and pickleball in the last couple of weeks of meetings. Alright, so we're gonna do a show, the show is called the believe it achieve at retirement. The idea is this, the daily grind makes us put our head down. And people cut sometimes they'll say, oh, put your head down, work harder and harder and harder. The problem is, is we want you to put your head up today, I want you to think what that's going to look like in retirement for you. What is retirement for you. There's lots of choices. And they're your choices. Now, what happens is this, we start thinking about it, planning it, building our goal, setting up things to make sure that this is something that you not only believe that but you can also actually achieve it. And then boom, you're retired and it actually works. A financial advisor is what guides you and helps you achieve the goals that you believe.

Unknown:

Yeah, and making sure that those goals are attainable, too. Right? Like, yeah,

BRIAN AKERS:

and the idea is like the numbers work, like we've done shows cut out your retirement ready. We've done many meetings where people are just so concerned, are they in good enough shape. And then the thing is that if we could get people, wherever they are, whatever age you are today, we need you to look up, think about what's going to be for you. And then let's get started when it comes to financial planning. It's not just a quick analysis and boom, you can do it yourself. The idea is is coaching come alongside is an ongoing relationship. Right? Looks

Unknown:

absolutely and it changes just like you said, right? Like, people 10 years ago weren't playing crystal ball or pickleball.

BRIAN AKERS:

Like they weren't doing they're trying to play tennis. And then that'll Yeah, that's a really hard Pickleball is a lot easier than tennis like that's a good fun example, we're playing Lawn Darts Island, that's what they were doing. That's dangerous. So I was never allowed to have those as a kid and my wife had crazy. Alright, so I had a client, the client, we built a plan for them to retire to a farm in Virginia. And he they retired to the farm in Virginia have everything going on the land, it's more of a hunting type farm. And then this year, they're saying, you know, we're gonna start camping a lot. And then they did that over the winter. And then my meeting and the review, as you know, we'd like to happen in Florida. We're gonna make that longer this year. And it's like, what's neat is that this retirement keeps changing for them. And we just got to build the income have cash available to handle if you're camping, you need fuel money. Yeah. Because that costs a lot. And then you think about this building a plan so that you can do whatever you want to do. And that's their version of retirement as they like to be going and see and things to do and stuff.

Unknown:

And it really does it changes so often. So what I like to be able to tell people is like hey, look, you're financially independent. Like okay, quit your job if you want, but you can do pretty much whatever you want within your you know, your framework and And they're like, What?

BRIAN AKERS:

They actually say, well, a lot of people are like, what do you saw? When do you tell them that let's say a new client, you tell them that meeting 1235 10? Two years in, when does that conversation happen?

Unknown:

It depends on the person, right? So some people, I think they, they need to hear it right away. Alright, so

BRIAN AKERS:

you they come in, like I used to, I used to say, on the radio a lot, that if you walk through the door with your house paid off, we'll be able to find a way for you to retire. Because you've already proven that you can live within your means and pay off debts.

Unknown:

So somebody like that, or somebody that has, you know, saved a good bit of money. You know, a lot of times I like to say it's like, okay, this is yours to screw up. Like, mathematically, it's going to be very difficult for you to screw this up. Now, you got to figure out what you want to do with. Yep. And that a lot of times the biggest struggle for people. Some

BRIAN AKERS:

people that are savers don't want to use the money, then there's people that are not savers. The sad part in America is that over 80% of people will not have enough to be fully retired and stay retired. And the sad part is that, how did you change that. So if a radio show would come out, like called winning in retirement, and people would listen and just listen to the fundamentals of planning, whenever you get a paycheck, make sure you're saving, throw money to your future self, get that money set aside, Roth IRA, save your money, that's what a lot of our shows are about. Today's show is this, you gotta think about it, and start to believe what these goals are, and then you can achieve it. But you're gonna need help to help this retirement happen, you're gonna need help to come alongside. And that's what financial advisory financial planning should be. Not just someone selling you something, not just someone trying to get you to do one time thing, but it's a long term, ongoing financial consultations and advisory. That's why we want to meet with people on an ongoing basis.

Unknown:

Right. And like, we see this happen, like which people retire all the time. I mean, yeah, I think two, three to three people today, just for me, I'm seeing that a retired, right. So when you come in and ask us a question, we have lots of different experiences to tie it to. I can't tell you the best route to take with your camper. I mean, I don't think anyone would let me drive one. But I've seen you drive a camper, and you can thread the needle with that thing. So I'd be like, Okay, well, if you want to learn about camping a little bit, I got a guy for you.

BRIAN AKERS:

I love to tell stories about the client, successful retirements and I just have a bunch of them. It's neat. It's like a client. So I'm thinking about doing this. Oh, this is how we help that client, I have a client that did that. Oh, really how they do it? And we talked about it. And the idea like I had this turn remember that? What story was this? Okay, so I just find this really, really wants to move, they want to move and they they have this incredible chance where their job is going to place them within an hour of their dream retirement. And that's, that's coming up in the next three months. And they're like, I don't know if we're really ready to make that move. And so, well, let's put together what it takes to make that move. Do we have the cash are we going to sell here and buy down there? What is gonna happen? And so it's like the excitement, I can see in their eyes, the fact that, oh, it's not three years down the road to retire, we can move to that area, we want to be in retirement now. Especially with this job that was only two or three years an hour away from their dream location. It was it's a rare situation for them. But a great thing for financial planning topic and the fact that, hey, they're starting to believe that. And guess what, it's gonna actually happen for them. It might be a year or so. But it'll work out and

Unknown:

then taken like what's on people's papers, right? Like they show up by all these papers. What does that what does that mean? Right? Like, when do you really begin to trust that?

BRIAN AKERS:

I had one like that. They called in and I'm brand new person, like, I want to talk with you about finance. So I'm like, Okay, what's your net worth? Where's your money invested? And then you can see, they like, I don't know, like, what have you they'll tell your statements anytime like, you save at work. i Yeah, we have one of those. And I'm like, Okay, well, financial advisors, we're gonna do the work for you. You bring those things in, you bring your benefits, you bring your information, and we talk about what you have. And then we coach you into maximizing and doing the best with what's given to you based on your job and your ability to save

Unknown:

those clients that show up with that like giant bag of stuff. Yeah, those are my favorite like the first time they come in. It's just like, they're already winded from carrying this heavy bag. But they're like mentally crushed because they don't know what's in this bag carrying

BRIAN AKERS:

the burden in Right, right. So it's like, show me what you got. Yeah, let's see it. And so Imagineer, listen to this radio. Should this radio podcast your thing? All right, believe it Shiva retirement sounds so corny. But imagine that we're not trying to be corny. What we want to tell you is this is that life goes fast. And before you know it, you might be nearing the age of retirement. And it might be something that drives you or you want to be retired. Or you might be the title, I don't want to retire. Well, your spouse might want to. And so the idea is, this is, are you on track for this? How's it going to work? If you're running your companies, and you're having the greatest career ever, you're making money like you've never seen before? And the idea is, oh, at 65 Everyone gets like, everybody retires to 65 of this firm. I'm already 61 I got four years, Brian, what do I do now? And then or the idea is, oh, I got 70 a certain age what and these things about your life, that you got to keep doing your job and financial advisors, we come alongside and do our job to help guide you fit your goals and the income, the flow all that work? You're gonna work?

Unknown:

Yeah. And then my favorite part is like, is helping people go from that? Like, this is kind of what I want, or this is kind of what I think or this is what the guy next to me did retirement to. Okay, we're gonna do it. Let's go through it. Let's figure it out. And then to see them live it. Yeah. is always one of the best parts. Yeah,

BRIAN AKERS:

we have lots of stories about that today. The The show is called believe it achieve at retirement. So the concept we want you to do is this. I know we put our nose to the grindstone, we're thinking that oh, I gotta get done today to make more money to do better at work to do the to achieve things. think longer term for a minute, while you're driving around, just think about hey, what what is the retirement going to be like? Make sure you understand that. This is the beginning of a plan is setting goals and building those dreams for your financial future. At Akers Financial Group, we're local, we're independent. We don't report to a big company on Wall Street or a big company in Iowa. We report to you. We have offices and Lutherville Foresthill. All around the mid Atlantic region and clients all around the country and even a few around the world. It's so easy to begin winning in retirement. Just give us a call and schedule your meeting with one of our team of advisors. Call a three three when retire. That's a three three W I N r e t IRA. We'll give you a call on Monday to schedule your free in person or Zoom meeting. Go to Akers financial group.com or call 833-946-7384 to start planning for your retirement now. Picture yourself retired. What are you doing? Where are you? We'll talk about this when we return.

Unknown:

You're listening to a pre recorded show Welcome back to winning in retirement call a three three when retired now to schedule a visit with Brian and his team and begin winning and retirement once again. Here's Brian Akers. Welcome

BRIAN AKERS:

back to winning and retirement I'm Brian Akers from makers Financial Group here with me today is Alex monk. We're both certified financial planner practitioners for makers Financial Group. And we are here on our radio show podcast winning in retirement. Talking about our topic today, though, believe it achieve at retirement. Alex, we're just getting started about the belief that achieving retirement. So this is about taking the retirement that people desire and actually making it actually happen. It's a lot of fun for us, right?

Unknown:

I think it's great. It's like, remember those old infomercials where they're just like, set it and forget it. Yeah, just kind of like that. Yeah,

BRIAN AKERS:

we want to set it, forget it. And then we want to talk about what's here. Some clients call me call to ask for the annual meeting. They'll say what do we need to meet for meet them for hours, we want to check up on you see what's going on? I have

Unknown:

this lady, she's like 84 now but when she switched like she hadn't seen her advisor for years, and I want to talk to her like, once a year, minimum right? Minimum? Yeah. Well, it was first was twice here. But that didn't last long. She's like, I don't understand why he keeps calling we do not need to keep talking. So now we got down to once a year but like it's just different. Like the other places weren't even calling her.

BRIAN AKERS:

Yeah. Well, there's a difference between planning and advice versus somebody that's a sales organization trying to sell something or they only if they manage money only are they managing money with the whole plan in mind taxes, insurance, income planning what's going on your life? It I don't think we can actually manage money without knowing what you need it for. The purpose of what you're doing and why you're doing it dictates dictates exactly how to invest money. It's a very it's a big deal to us.

Unknown:

Yeah. And it makes it like, it makes it more fun, right? Like, yeah, you assign a goal. You're like, I want this money to be a beach house in Florida and 10 years out overdue.

BRIAN AKERS:

Absolutely. Now, this quarter we're covering where someone needs to take a time and think about and picture yourself rich hired. And if you're if you're thinking about that if you don't close your eyes and do that you might be driving them even dangerous. But imagine if you were actually retired. Where are you? What are you doing? And so the idea is have it not, you can have a vision about it, you can think about it, you can be maybe you've been on vacation, and it's like, and you sit down a couple places, that could be a nice place to be for retirement for a while. I think it's a great thing to do is to try to think about what you're going to be doing in retirement.

Unknown:

I mean, I'm trying to think about that for myself. And like the answer changes so many times like that. Well,

BRIAN AKERS:

imagine you and I are 20 years apart in age, retirement is, let's say in the future current in the future for me very soon, meaning under 15 years, let's say you, say 30 years, maybe, if you want to. But the idea is that that vision might not be as real or has to be as real to you. But doesn't retirement in your mind for someone as caught mid 30s or so. I forgot your age right now. You're thinking about you and we're thinking about your retirement. Do you worry about retirement? Or do you dream about retirement? What goes through your head?

Unknown:

I guess for me, it's kind of like, I wouldn't call it worrying. Yeah, it's like, oh, wonder it,

BRIAN AKERS:

but that one day, like, for me, the concept of totally retiring and not working is not the happiest thought for me. I like the idea of I love my job, I want to keep working. But I know there's a day when I shouldn't keep working. That's

Unknown:

the tough one is like, you know, how do you hang it up before you start making mental mistakes, too? Yeah. And a lot of people see that?

BRIAN AKERS:

Well, there's a concept out there called the no retirement retirement. And that's where the idea is. All right. I love it. I love my job. But any day I can walk away, and that's truly financially independent financial independence, which is truly the first step we want with all of our clients, once they're financially independent, the retirement date or any of those other things just happen when you're ready, right? There is no date you have to retire even though some companies might have that. Or they might tell you that or, and your family might think oh, well, Aunt Jane retired at 62. I'm out of 62. Ready or not here at come? I've had a couple of those. And I've

Unknown:

had people show up or it's just like, whatever I'm this age,

BRIAN AKERS:

yet, but do they stay clients? A lot of them don't like our answer is that, oh, you need to save money if you want to retire at that age just can't retire to retire.

Unknown:

Oh, I'm gonna be 62 Brian, why not? Because your parents had a

BRIAN AKERS:

pension and so security and you don't have a pension, and you never saved their money that you need to do. That was sad stories. I've had to say the first time people we meet,

Unknown:

and you're talking about that financial independence is like, that's everything. You can work because you want to like and how does that change your attitude towards work?

BRIAN AKERS:

Yeah, I had, like a, the attitude towards work is going to be where the stress of it, I was like, Oh, if I don't like this, I wouldn't be here anymore. If I enjoy it, I'll keep doing it. And I had people tell me that and I said, Okay, that's good, that's fine. That allows your money to grow more, there'll be more for you for your family. The hardest part is we don't get more life. Right. So there has to be a balance between lowering your stress and actually enjoying what you worked so hard for and enjoying your career a little bit of both?

Unknown:

Yeah, for sure. I mean, especially, you know, some of the weird cases, you see where someone works till they're 70. And, you know, the next week, they get hit by a boss or something crazy like that. Yeah,

BRIAN AKERS:

it's very sad when people pass away before what would be considered a life expectancy. And the idea of fine on the financial planning side is, well, what do we do? Do we spend all our money now, I think there's, you have to have a balance between now and later. You need to know that you're okay in the future so that you can spend it now. We don't want to spend it now and have nothing in the future, you got to have a good balance.

Unknown:

Right? I agree with that so much. Like I tell people, you don't want to just wait and put everything off. You got to enjoy some of it today. Absolutely. But then let's figure out where that number is right? Like once that that key amount that you need to save and then everything else will be fine from there. And then you're the one that has to pick out what your life looks like. And

BRIAN AKERS:

you're going to be doing things that you enjoy and then one of the things that makes that stress level go down is the fact that you know there's money in the bank, there's money to pay the bills that month, you know your bills are lower and it's your you have enough and you can actually exhale and relax. Have you ever had a client you know they're retired when they walk in and all sudden their stress level is just gone. You

Unknown:

can tell like they've they've filled out all their paperwork, everything's already been moved in. They're not on the not as big of an edge. That's one of the greatest feelings is they show up with all these papers like, Well, I'm gonna get this payment, I'm gonna get this I'm gonna get right and nothing started yet. And they're like, Yeah, I don't really trust it.

BRIAN AKERS:

And not to all those checks are coming every month, usually between one or two years into retirement. All sudden, there's that moment when they sort of lean back and breathe and go us working. I like that. I don't have to watch the markets every day. I don't have to stress over what's going on. Because I know it's being handled. I know it's being taken care of. And then if they have a question, they call us if they need a little more money, they call us autumn. Ultimately, they're delegating that stress, they're taking the risk, go to us and let them cast the checks. And usually

Unknown:

like that first six months of retirement, there's this huge list of stuff. Oh, yeah. And all that stuff. I've been putting off whatever it is, you know, you clean out this room, that room, the other. And then you see people like Okay, now, right?

BRIAN AKERS:

Yeah. Well, what's funny is when the, the wife might have a list and all this stuff he's got to do tomorrow. And then the husband's like, Brian, I'm retired. I don't need to do that tomorrow, I can do it next week, the week after, she's like, we need to get it done, we got to travel. And so it's, it's different when you have a husband or wife that has different motivations and what they want to accomplish. There's phases of life, when you retire, where you get things organized, straight into all the things that you meant, you've always wanted to do around your, your home and everything else, and then all sudden, you want to start going and traveling. But some people do that some don't really enjoy it, whatever, whatever that next is, and then they go, and then all sudden, things start to slow down after they sort of maybe around the world a couple times, whatever you want to describe it.

Unknown:

Like now, moved on with traveling, I've seen that I've done that, you know,

BRIAN AKERS:

that's usually the husband and then the wife just goes without them. We have a few of those, right? That's

Unknown:

usually like quite late 60s. Yeah. Between

BRIAN AKERS:

69 and 75, is when the guys drop out when it comes to travel, as well some do into their 80s. And then we have ladies who travel and drive into their 90s his clients pretty amazing.

Unknown:

It's great to see but like you said, it's different for everyone. And then you have these people like oh, I moved to see my grandkids. I mean, everything's great for the first couple of years, and then the grandkids become grand teens, or whatever the age limit is. And they're like, Well, I don't really see them anymore. So

BRIAN AKERS:

yeah, there's all part of these decisions of where do we move in retirement if they want to move, like when they talk about, oh, I'm going to save money on taxes and move out of Maryland or a certain state? And I say, Well, why? What's the other reason besides taxes, because every state charges, something, every state spends about the same amount of money, and they need money coming in, they're gonna make it one way or the other. So you got to understand stamp, basically the standard of living the cost of living there. And is that what you want?

Unknown:

What family like where's your family, and I'm a family,

BRIAN AKERS:

I believe should be a driver, I think that you're where you're locked in tied in could be a church family, it could be your volunteer, whatever you're working on, whatever that desired retirement would be when it comes to actually what you're going to do. I think that's a very big deal,

Unknown:

isn't it for a lot of people like they, they come in, they're like, I'm tired of paying taxes in Maryland. Alex, I'm like, okay, that's one of our Where do you want to move? And you add in the cost of traveling back to, you know, here, wherever their kids are, from Florida or wherever they're right. And they're about the same?

BRIAN AKERS:

Yeah. Yeah, absolutely. So, so this quarter we're trying to talk about is the fact that you think about where you are within your retirement, and you think about what you want to do in retirement. Now, some of you might be next year, you want this retirement to be ready to go, it might be in the future, it might be long future. And sometimes it's long in the future, you might want to put it off, mathematically and financially, the sooner you start, the better, you can let the money do the work for you. And that's an amazing thing is the younger we are we got to get started putting that money to the future.

Unknown:

It doubles a lot faster that way.

BRIAN AKERS:

Absolutely. Compounding of investing is one of the one of the best things that we need to pay attention to. And we really, really need to make sure that we understand investments, how they work, and how they can help you and let that money work for you over multiple years gives you the ability of that money to grow. And

Unknown:

to trust in yourself right like that financial independence. It's such a big deal.

BRIAN AKERS:

So at acres Financial Group, everything we do is about you, your retirement as is as unique as your fingerprint. When you sit down with us, we start by taking a look at your financial fingerprint. We talked about you and where you are right now. Things like where's your net worth? How do you invest, how much are you earning? Then we talk about what you want to do. Do it in your retirement, what is it going to look like? What's it going to feel like? We want you to start to set goals to believe it so we can build this retirement that you can achieve. What is your desire for retirement? So go ahead and give us a call at 833 when retire and schedule an in person or Zoom meeting, that free meeting will be set up with one of our team of advisors, call us at 833 when retire or go to our website at Akers financial group.com. Ready, set, go. We'll talk about that when we come back. You're listening

Unknown:

to a pre recorded Show. Welcome back to winning in retirement call a three three win retire now to schedule a visit with Brian and his team and begin winning and retirement. Once again. Here's Brian Akers.

BRIAN AKERS:

All right, welcome back again to winning in retirement. This is the second half the third quarter of winning in retirement. This is a radio podcast put on by Akers and that's group. I'm Brian Akers. And here with me today is Alex monk. We're a Certified Financial Planner practitioners from makers Financial Group, and we're here to talk about our show winning in retirement. And winning in retirement is really begins by believing it, then you can achieve it. And that's the retirement we want our clients to have. So imagine that you have a desire for your retirement, what we need to do to do is this. Let's take that desire for retirement and let's begin to make it a reality through planning so that you know you can actually do it. Now this quarter. We're calling it ready, set go. What does that mean to you X?

Unknown:

Man, it brings back flashbacks of races as a kid.

BRIAN AKERS:

Okay. Are you a runner?

Unknown:

No, I was not. Okay. I

BRIAN AKERS:

hate to admit that somebody made drunk, right. Yeah. I

Unknown:

mean, you had to run as a kid. But it's like, okay, you get ready, like you get up to the start line. So at least you know what you're doing. Yep. Right. You know, the game you're about to play. And then set like, Okay. And then it's your off and like with retirement. Brian, you want that to be? Just once? Yeah,

BRIAN AKERS:

he wants to retire and stay retired. Yeah, like,

Unknown:

if that's your goal? Yeah. But you want to know, okay, hey, I'm leaving my career. Once.

BRIAN AKERS:

Yeah, so this go in this conversation this quarter? Is the actual packing the box up at the office and walking out the door, and you're done. Right?

Unknown:

It's not that I'm gonna drop my papers in six months conversation, it's, yep, it's been home. Now. It's

BRIAN AKERS:

the one month before you have your last day we have a talk, we make sure all your papers are turned in. And we talk about health care and, and what pension options if you had any, and where we're gonna get money in the next month, where it's going to come from? Do we have money set in cash that's that we can use. And then we talked about the meeting a few weeks after you retire when we talk about rolling money over and putting it together and building the portfolio of protected and money at risk and building the beat inflation over time with income. And really working that all out? Right?

Unknown:

And the most important thing there for me is typically that first month, right? People aren't going to be getting a lot of their normal called Full on retirement income sources yet, because you got like these in between, you know, whatever, yada, yada. Yeah. So knowing Hey, we have enough cash here to make it six months. Yep. Whenever other stuff should start showing up or fine. But like, we don't want to make any big knee jerk reactions at first month, either. That's where you make big mistakes, and that there can be some tax implications, really all kinds of stuff happening.

BRIAN AKERS:

Oh, tell me about a few of your clients that have been big, getting ready to retire and then retire? What did you do with them? How did you work with them? How'd you work through it? So

Unknown:

you know, we start, you know, let's just have known them for a while, I guess at this point,

BRIAN AKERS:

as you're planning and getting ready to retire. They've been a client for a while. Yeah.

Unknown:

So it's like, Hey, Alex, this is the year I'm actually going to retire. And depending on the age, we go over, you know, health insurance first. Yeah. Like that's the big one, especially

BRIAN AKERS:

if they want to retire before 65 They got to have a plan for this healthcare.

Unknown:

Yeah, I mean, and that plan is usually what I call$1,000 a month per person. Yep. Or you have a third pension. And, you know, just kind of is what it is, right? And if that's the conversation that we're having, that's part of the budget, and it needs to be there. And when you're on Medicare, you're gonna pay, you know, whatever, four or 500 bucks a month anyway, so it's not like a crazy different number. But it's one that a lot of people don't think about.

BRIAN AKERS:

Yeah, so the pre 65 is basically healthcare drives a lot of people to work the 65 then they have the Medicare which has a Medicare premium then you have a supplements you have two plans, and then a prescription and they all add up so they're all part of that decision as to health care. Well, decisions, do you help them through it? This is kind of hard.

Unknown:

So then it's like, Okay, where am I gonna get my money? Yeah, some people are like, well, when am I going to get my first paycheck? Like that's what they're used to. Yep. So then we got to make sure okay, hey, this is where our cash flow is coming from. Are we setting up Social Security? Are we setting up your pension? Are we setting up withdrawals from your retirement accounts? I have, where are we getting money from. And I think that's the second biggest thing that we help people with is literally logistics,

BRIAN AKERS:

I love having clients before retirement to build up multiple buckets, multiple choices of where money is gonna come from. So I can layer it out, I can affect tax free and get some tax free money. And also I have money that's taxable, that I have to take and sort of build the income plan. I'm trying to keep taxes lower, so that I can avoid things like Arma tax, which is the Arma is the Medicare income related monthly adjustment amount that we have to watch out for if you make too much a certain year. So just balancing this all out, so that people get steady money, but also money is predictable. And they can count on it and beat inflation over time.

Unknown:

Right? And then it's like, how do I get it? Right? Like I see it on the statement. Oh, how

BRIAN AKERS:

do you how do you answer? How do you get it? How do you answer that?

Unknown:

So you know, typically when they're a client here, everything's linked to your, your, your checking account. Like we want your life to function just like it did before, right? Yeah, you're going out whether you're working for your paycheck, or you've already worked for it, and you're just receiving it. Alright, for money you save. We want it to show up just like normally would maybe not twice a month, but once a month. And that way, it's predictable. We know exactly. You know, how much your monthly bills are at that time. So it should be a pretty, pretty smooth scenario.

BRIAN AKERS:

Yeah. Give you an example of someone you talked to recently, that you've had to go through some of this with them? What kind of responses they have back to you? Like, do they automatically have everything thought out? Or do they does it take a slow process fast process?

Unknown:

I mean, people they try to think of as as much ahead of time as they can. Yeah, right. But you're never gonna get it all. Because you've never done it before. I think money like Where's, where's my first check gonna show up? Like, that's usually like the biggest,

BRIAN AKERS:

especially like federal government estimate, waiting three or four months before they even get a first check. In current retirement. Yeah,

Unknown:

I mean, all the systems are behind, like, everything's sort of security's taken forever. So I usually have at least six months on hand of cash, like, Hey, this is the process, you're going to retire, here's every dollar that we're going to need to live on for the next six months, regardless of what happens, right. And then let's just start getting the ball rolling with, you know, your medical, your pension, your Social Security. Take it from there. So

BRIAN AKERS:

the idea is you might be motivated by this actual retirement, or you might be motivated by the the idea of financially and Penn dependent. And then the reality is, is that motivation gets you to save and build the money, so that you have these choices. Imagine that if you don't have those choices, and make those choices, and set aside small amounts of money into become large amounts of money, you're not going to have those retirement paychecks. And especially you won't have those retirement play checks, the ones where you're going to have the extra fun with it is terrible. And retirement, when you look at everything, well, I want to do some things, but I don't have to get a job. If I want to do anything. Or if I want to have a certain project in my garage, I need to get a job to pay for it. It's we don't want those kinds of things by planning ahead. And saving and investing in a way so that the money will be there when you need it.

Unknown:

Right? I mean, because you got to remember, no one wants to retire and just sit on their couch.

BRIAN AKERS:

It's not a long retirement if you do that, right.

Unknown:

It just doesn't it's not sustainable.

BRIAN AKERS:

It's not healthy, not healthy. Yeah.

Unknown:

So like, if you hate your job, that box, then maybe fundamentally, there's something else happening. Yeah, right. Like, because if your plan is to stay at home and not do anything, you're going to be just as miserable, if not more. And then if you're not working all day, it usually costs some type of money to go out and entertain yourself. Absolutely.

BRIAN AKERS:

That was one of these clients I have, they've been a client for about 10 years. And the goal was they were going to do 20 years to get a pension from the federal government. And but they would have to work to 72 because they had a private career. And then they went to the government job and said, Oh, man, I gotta work to 72. This meeting at 68. I said, you're ready to go. Now. We don't even need that pension. They're like what? I said, you don't even need the pension now based on your expenses, the money you need versus the money we have saved and built off that you've worked so hard for you four years earlier. And we don't even need to wait on their pension. They're like, I like my job right now. And I said, Well, that's the great thing. You're financially independent. You can actually, I'll just keep going.

Unknown:

Did you really tell him to walk from that pension?

BRIAN AKERS:

I did, actually. Because the idea was, his wife wants to retire. So the thing is, we're going to have her retire in January of 25. because they're ready, she doesn't need that work and Max save anymore. He can work and do what he wants. His job went full remote. And he's like, I enjoy it. I don't mind it. I like it nice. And that's the concept of this no retirement retirement is that, hey, if you love it, do it. If it holds you back from doing the things you want to do in retirement, then you might need to figure out another another way and actually retire. But I did say that the numbers were good enough to do it. I never tried to say, you retire now. Sign it, do it, do it. I don't push him like that hard. But I gave him I gave him the financial planner approvals, and you're good to go. I

Unknown:

have a difficult time getting people to spend the money. I think that's one of my biggest struggle. Are you

BRIAN AKERS:

talking with the big savers that won't get a new car? They won't fix their house up? Because then the need it for safety reasons right.

Unknown:

Now, sometimes they're like, Well, you know, if I have 500,000 in the bank, I feel okay. Yeah.

BRIAN AKERS:

Well, that's, that's different when it comes to planning. These are people that have saved tremendously well and build up wealth. And there's a lot of other planning what we need to do for them, because they really have never had to worry about retirement price since their early 40s and 50s. Because they have a mindset of always saving and never ever spending their standard of living what they need to live on so little. And

Unknown:

my biggest thing that I try to preach to them is like, look, you're both healthy right now. I'd rather you like there's just gonna be more money coming into the bank. Like we're not even spending the income yet. Like,

BRIAN AKERS:

yes, we're getting them to catch us say, oh, yeah, I agree. I agree with you, Alex. I'm gonna be okay. And and knowing they're okay. That's a big, big hurdle. There isn't

Unknown:

right, because I could they know, like they've known since we've met, like, the numbers are on their side, right? And the numbers just keep going up. It's not like they're getting lower. So how do I get you to trust that, that? That's like one of my biggest hurdles. I

BRIAN AKERS:

understand. And the thing is, is that we work it out with clients. I had this one client for a long time, they went from five days to four days to three to two and a half. Then finally he stopped. He just said, you never, I'm done. And I was so surprised. His wife and I thought he would never stop. But then he played golf for like five years, and then they stopped that too. But it was interesting. Alright, so the idea the best part of retirement is truly when you get your time back, it becomes your time you decide how to use it. Before retirement, your time is tied up with other commitments, you know, like mainly your job. A lot of that goes away in retirement. Your time is now consumed by things that you want to do. It's so easy to begin winning in retirement, go to our website at Akers financial group.com. Scroll to the schedule meeting section and let us know you'd like to schedule your free consultation with one of our team of advisors. That's Akers financial group.com Or you can call us at 833 when retire that's a three three W I N R et Ira will give you a call on Monday to schedule your free in person or Zoom meeting, go to Akers financial group.com or call us at 833-946-7384 to start planning for your retirement now. So you did it. You are really ready to retire Are you will explain we come back in a moment. You're

Unknown:

listening to a pre recorded show Welcome back to winning in retirement call a three three when retired now to schedule a visit with Brian and his team and begin winning and retirement. Once again. Here's Brian Akers Welcome

BRIAN AKERS:

to the fourth quarter of winning in retirement. I'm Brian Akers, President founder of acres finance group, your enemy today is certified financial planner practitioner Alex monk is worth acres finance guru for more than 13 years co hosts so radio show helps helps run the portfolios with their private management at Akers, statue, and many other things. He's a financial adviser, father of one small child,

Unknown:

one very small, crazy man,

BRIAN AKERS:

not really small.

Unknown:

Now he is small, I think for his age. Okay,

BRIAN AKERS:

but change your life though.

Unknown:

Oh my gosh, it's fine. I don't give them too bad.

BRIAN AKERS:

Now, what's neat is this, the radio show, we want you to hear us talk about financial planning. We are trying to explain how we do it, how we work with our clients. And what happens is this you're listening and you say, oh, that's what I want. And that's what the purpose of this show is this. We want you to win in retirement. That's why we do the show. That's why we do financial planning. We help people believe achieve retirement. So today's show is called the believe it achieve at retirement. So the idea is not anything different than you've heard all of our other shows. If you haven't heard them all, go to our website at Akers financial group.com. Hit the radio podcast and right there will be a copy of the shows in the past. You can listen through podcasts anywhere, winning in retirement and we're right there. You can listen to it anytime. We want, it's a great way to get to know us and how we work. But then you need to call, what we do is we have a free meeting that free meeting as we get to know each other. We talked about your goals, we talked about how we do this, how we get paid, doing it through a combination of planning fees, our fee based financial planning, which is a combination of fees for active management, and or commissions, if it's the right thing based on what the person needs. So we build this because through our independent financial group, on base, what that client needs, imagine, advice that's driven by the client. And then we have the ability to implement whatever that client needs. That's what we've designed here at Akers Financial Group.

Unknown:

So you're telling me that if someone walks through the door, they're not getting a one to five thing

BRIAN AKERS:

now. And my staff hates that concept, it'd be so much easier to run an office selling one thing, because then you just track it. But we have lots of staff because we do lots of things for clients, we have to have gathering software to bring it all together, we have to know how to do paperwork for many, many, many companies.

Unknown:

And that's my favorite part about working here is we're not trying to find the people that fit our niche as a business. Right? Right, our business is evolving to that client. And as the, you know, that landscape that financial landscape changes, like we have to be able to change with them.

BRIAN AKERS:

Oh, it's amazing as, as the clients do very well saving. And then they have a new planning, I think they need. And that's what we want to stay on top of is, as you achieve different net worth levels, you get to that 816 25 $50 million level. So what happens is, there are other taxes you have to worry about. And we don't spend a lot of shows talking about them. But life changes. As you become more and more successful and good proper planning. You become successful. And it's like a what do you want to do now? It's a fun thing for us. Some people get burdened down by Oh, Brian, what do I do?

Unknown:

So many people like they just you can see the weight on their shoulder see whether they inherited a bunch of money, or they've saved it. However, they got it right. If it's not like something that they love doing, which I think would qualify us, right? Yep. They're just overwhelmed by.

BRIAN AKERS:

Yeah. So this quarters, so you did it, you actually achieved that you saved all that money. And then it comes down to are you really ready to retire? And then the idea is, well, what am I going to do? I believe people should think about what they're going to do, what's retirement going to look like? Because the job you have prior to retirement pays a lot better than switching to another job as retirement.

Unknown:

Like, if you have, I have a lot of people, especially now since the pandemic, right, where people have gone to retire. And their bosses just like no, yeah. And they're like, What do you mean? Oh, we're gonna pay you 60% of what you made to stay anywhere in the world for 15 hours a week? Yep. And it's like, whoa, why would I ever leave? Yep.

BRIAN AKERS:

I have multiple examples of clients who work for a company. And one says, I am 65. I'm going to go move where my kids are in Minnesota. And I'm going to be retired there or get a job out there. And they're like, No, you can work remote, same benefits, same salary. Oh, you can cut down? Well, we won't make your salary go down much more. I had one case where the guy the guy who the small company, the owner wanted to retire semi. And so their main assistant that he's the he's the said to her, Hey, I'm gonna retire. But I can't do all this without you. I want to keep working three days a week. Can you keep working two days a week? I won't change your salary. So what she was making five days she's down to two days same salary, because the boss wanted to just keep at it, and give him something to do. When she's like, I can't retire from that, Brian.

Unknown:

I was gonna do it the same thing five days a week. So it's like those scenarios. You can't plan for those. No, we were ready to go that you know, we're ready to go.

BRIAN AKERS:

Yeah. So the idea is this is that everybody's different when it comes to their their retirement. Some people get sick, and they can't go back to work. And those are the ones where we, we really want to meet people early and younger. So they're ready for scenarios we can't control. But the idea is the opposite where you've saved it all. And now you get to choose your retirement which not everyone gets to choose their retirement but those that do. Usually we have we've talked to them ahead of time anyway and gotten ready. And that's the best way to do it.

Unknown:

Yeah, the one that's that show up and it's like, Hey, I just retired it. are usually the ones that weren't ready.

BRIAN AKERS:

Yeah, they decided they did it and then they come in and then my okay. And then we're just squeezing for money constantly trying to fit their bills. It's just that it's not a stress free retirement like, we would hope them

Unknown:

why cuz sometimes like people's they see this big number on their 401k statement or whatever. And they're like, Yep, I'm there. Yeah, I got 1.5. I mean, whatever the number is, and they don't realize that, oh, they're only 58. Or I need health insurance for seven years, or all my money's pre tax like all these different things that they're not counting on. And like, if you take big withdrawals early in your retirement, especially if you're younger, it really hurts your math long term. I

BRIAN AKERS:

had this client who adopted a girl in her 50s. And I said, as I said, you know, you can't retire in six years, your daughters were going to college, you need to keep working there.

Unknown:

Haha, she adopted a 50 year old, she

BRIAN AKERS:

didn't know she was in her 50s which adopted. So it's like, well, what are you gonna do about college? Are you gonna retire before or during or after? And, and she thought that far ahead. It's wild. It's individual decisions. So imagine financial planning is driven off of goals, it's driven off of you. And then those goals and those objectives drive how you should invest your money. Yes, we actively manage money for clients, we build portfolios that are designed based on their core, and then satellites of risk or lower risk. And we have money that's protected, to give us some of the income we need that we can rely on that will grow over time. And we build this out. And we and that's where we worked with clients for many, many years to make this happen.

Unknown:

Yeah. And I tell people, they're like, Well, how can you expect, you know, how do you think I'm going to do if we'd make these changes, I'm like, Well, we're gonna take less risk than you're currently taking. And we'll probably do better on the return side, because there's so many people out there that are just by not looking at it by not knowing what they got going on in their money. They're usually duplicating or quadruplicate, doing things that they don't need to have.

BRIAN AKERS:

Absolutely. We want people to control on what they can buy. But we want to have a financial a fundamental financial structure to make this retirement last the lifetime. Lifetime means we don't know how long we live. So the way you structure investments is to live a lifetime of money. So you do have to watch the money in your early retirement years to save it for those later retirement. Here's the balance out that life. I

Unknown:

mean, if everyone walked through the door, and they're like, Hey, this is exactly how much money I'm going to need for long term care expenses. This is when I'm gonna die. The math is very easy. Yeah. But you know, we don't know those things, nor would you want to, I mean, I wouldn't want to. So

BRIAN AKERS:

the idea is increasing the probability of making this money last the lifetime through the structure of how you invest. And that's what we've been doing for many, many years is building portfolios that have a protected side has that don't have downside risk. And then we add the at risk side, diversified portfolios to that to grow and beat inflation over time. Because what happens when people come in, some of them come in, and they have a retirement of fear of running out of money, they just want to know if they're gonna be okay or if there's a way to make sure they don't run out of money. What we do is design a retirement income plan that doesn't just squeeze for income but plans for it. Retirement should be where you're financially and personally freed you have the freedom from your finances and personal working life to be able to do what you want and the money to do it.

Unknown:

earlier. I think he said paychecks and play checks,

BRIAN AKERS:

if you want to have a little bit of both Yeah, but you want

Unknown:

to have your paychecks right like your you know, your bread and butter, whatever it is, I

BRIAN AKERS:

love I love if somebody doesn't know what they need, I say what what's your net bring home now let's target that. Let's make sure you have the same net bring home, and what else you want to do. And that's the paychecks it's like, let's add that on top. And then that's the math of the beginning that we see where they are and see if they merge or match at a certain age and sort of go it's

Unknown:

funny because like those numbers are cashflow numbers, and they're usually people are like, Oh, I make$200,000 a year. That's how much I need in retirement. It's like well, no, that's very untrue. Yeah.

BRIAN AKERS:

And but taxes are can be brutal. There are some situations where they think they're going lower tax practices, retirement and they're just really not because of company plans, stock all kinds of things that are going to be fully taxable in their future issue of

Unknown:

people like Okay, so when you turn 75 That's going to be your best income here. You're

BRIAN AKERS:

gonna pay more tax than ever and there's this person called Arma we have to teach about. Alright, so this shows gone fast. It's been a show about believe it achieve at retirement. The idea has taken where you are and your retirement the desires for your retirement. doing the work now so that you can have a plan to make it last a lifetime that's exactly what we're trying to cover today on our show Alex monk Thank you very much for good show. It's been great. I know it lots of other stories you could tell you can always come by see see Alex and us and sit and have us tell stories. We love doing that. Usually coffee is involved. The true coffee

Unknown:

or something with caffeine gotta be caffeine

BRIAN AKERS:

for that. Alright, so today we covered the believe it achieve at retirement. It's gonna be on our webpage at Acre snatcher. group.com. Within the week, go right there and listen to it again, if you want to get motivated to get your own retirement in order. We do look forward to meeting with you. We want you to win in retirement. So take advantage of the opportunity to begin working with us at Akers Financial Group. To schedule a free meeting with one of our team of advisors go to our website at Akers financial group.com. Scroll to the schedule meetings section and let us know you'd like to schedule your free meeting. That's Akers financial group.com Or you can call us at 833 when retire as a three three W I N R et IRA. We'll give you a call on Monday to schedule your free in person or Zoom meeting with one of our team of advisors. Start planning for your retirement now. Go to Acre snatch koat.com or call us at 833-946-7384 Thank you for listening. I'm Brian Akers from makers finance group and we want you to be winning and retirement.

Unknown:

You've been listening to winning in retirement with your host Brian Akers of Akers Financial Group Akers Financial Group offers securities through our kiddos capital and SIPC and FINRA member firm advisory services are provided through our videos wealth acres Financial Group and our videos do not share any common ownership neither our videos nor acres Financial Group provides tax or legal advice advice given on winning in retirement is general in nature and one should seek further advice from their financial advisor broker attorney and or tax accountant before investing. Be sure to read each prospectus carefully to understand all the risks associated with each investment examples and scenarios shared are meant to be for illustrative purposes only past performance is not indicative of future results.