Rubino & Liang 2/12/17
Feb 12, 2017|
Just Don't Lose the Money is devoted entirely to the financial needs and challenges of retirees and those nearing retirement.
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The information on this program is not intended to provide legal accounting tax or investment advice Richard Rubino is Sam Langer principles of repeal and lying LLC and LLC with a mass broker's license 1783398. Neither Sam rich nor beatle Lang are registered as investment advisors and do not give investment advice this shows a service of Rubino a line. This is good just don't lose the money radio show with your host attorney Richard Rubino and Sam lag. For over twenty years rich and Sam have been broadcasting to the Boston area. Explaining how you can protect your life saved. Richard sands highly regarded and sought after guidance has been. Featured on Fox Business news and fortune and money magazines now your host could just don't lose the money guys from Richard Rubino and sales lag. Just don't lose money on the same line and I'm Richard Levine welcome to our showed Sunday. It's. I guess it's just an on the Sunday but it's and wells are now seeing and it's like shopping Sunday. It's sharpened Sunday right I haven't. I hope nobody's listening hope so my wife isn't listening but I haven't gone shopping. For Valentine's gift but I did two days I'm okay no roses now just frozen chocolate can get away with that. Yeah I might be able to get away with well like I usually get and you know this I have a good and bad yeah I get your card we go out to dinner. But Valentine's Day is not the days a month I got a whole month low that I am it's. Because you've been married 45 years it's easier you know very happy that Taylor you can help tell people that you know we love. Happy Valentine's and really at the end of the day what a better way. To love. Your spouse your family and more importantly to be appeared to be financially prepared. How financial independence. And when I talk about Valentine's but today we're gonna talk about. Women and wealth and how important it is to make certain that you are taking care. We have a great action guide entitled women and wealth which will talk more about and Ronald you can get away with it spokes that as a present. But it's aimed to serve needs a very good thing to share with your spouse if we also a special guest Susan Warnaco good friend. Channel five Emmy award winning reporter will be here with us in a few minutes but when I talk to vote. More important things like following Powell to rules rule number one. Just don't lose the money and number two don't forget rule number one can get more on that. By visiting our website just don't lose the money dot com 24/7. Again that's just don't lose the money dot com. Full of great educational information. That you can absolutely use again it's just don't lose the money dot com. Our rich let's get down to business already Joan writes India rich and Sam my husband and my husband is about to retire and I'm concerned. He was so busy at his job that I don't think he has thought out what we are going to us how we are going to sustain our lifestyle. Without him actually work. I'm still working and I'm confident we're going to be okay. How to our help him in myself to find out that we are for sure going to be OK retirement. Well I mean here's some people staring you here you see people I see people all the time are really focus on a piece focused on his job. And the job stops then. He cannot he's probably gonna get focused on something else. So it doesn't mean that you know he's not a lazy well satellite we direct the guy how listen rich it's you are. Both no way we're humans. We raise a family would go to work we come home we like to relax a little bit maybe watch some TV. But the reality is that. Sometimes people say there's always going on miles an hour and it's not that you're not interest sitting financial future or your retirement. But it's. Lack of may be time. Lack of maybe sometimes just you know maybe you it's not I'm in the forefront of interest but a variety of things. It just reminds me of actually the other day we saw somebody they came in husband or wife. Husband sounds like this guy travels a time he was in this view was a salesman. He made very good money strong strong six figures on she was actually a consistent. And our teacher's assistant so she worked. You know six dollars a day and probably know twelve hours a day bringing up the family right into the closet they bring empathy aiming exactly for sure is really. Sort of the person quote unquote the CO folder of their family she asked me all the questions she just sat there I think for support. On she knew exactly where all the money was he didn't. She knew precisely what the Social Security estimate was going to be he didn't and it wasn't that he was. Noninterest Sydor was just kind of like urge her bra that was her job now but I think it's important to understand. That. When you do stop working. They'll probably be a shortfall when we're most people we see today. If they spend you know a 100000 dollars a year because they make more than that. Well if you stop working and maybe you don't have a pension. I can assure you are so security is not going to be hundred grand a year well you know stop working thank you are you save up all this money during your working years. And all of a sudden you go from spending sort of put their money tapping to spend your money and it's different spending your money. Because it's it's not on a little pilot you know I don't you have to you have to thank figured out well one of the things that we weigh what to help these people with. When they came in was that aired differential. Between getting the two so security payments and actually what they need wasn't a huge number it was about 15100 dollars. Per month. So give or take or call two when he grand a year. And when they showed us where all their finances where they had enough money in the bank they had some money for freebies which is which belongs to the wife. That's a marine for one case which belong to the husband. They and other things infidelity in portfolios. And what have you but we were able to show dramatic stages culled out about 400000. Dollars. Of their retirement savings which was what percentage Sam's. Or maybe it was maybe 35%. Of their overall overall our assets but it they culled out that. 400000 dollars of money and we rolled out over into a IRA but using fixed annuity. They gave them the income right away we sided we set it up so do actually getting a paycheck for about 18100 dollars a month. And what we said to them was kind of like you don't want these sort of just. Senate and forget it just right Ron poo PO now what happens if there though if after the first month they both. This way whenever as the rest the money to well worn out its its pretty clear whatever they just put in in this case 400000. They got a nice bonus bonus 8% so we decided immediately it for thirty something. They earned some interest. And let's say they died after. One month of payments while they subtract what they paid the client. And the balance goes to the named beneficiary essentially as it was Mitchell yes actually it's better than a pension whose penchant usually don't leave anything yet pensions and oh yeah if you don't if you don't live your life expectancy you're not getting a fair deal. So you know not to say that that's gonna work for everybody but I kind of like this 'cause it's like you said Richards put an auto pilot. Makes it easy not to think a whole lot about making sure what where the money's in the come from and I think today. There isn't a person that we meet and and you know we live and we live in a political climate we live in a an economy where people today I think a war more worried. More than ever before Obama. I had to get prepared you know one of the things that this women and wealth guide does is that it gives you sort of checklist. Of what you should be. What you should be. Doing what you should be considering whether that whole checklist is is right feel or not but it has enough checklists for. To go over to make sure that all the bases are covered naturally we he'd need to do original original. Referred to was our giveaway this week entitled where men and wealth action guy it's a guide. It's is more couple questions about thirty pages but in there there are things that you can use to have. The ability for you to make sure that you'll be okay this checklist for widows says checklists of single women. This checklist for single mom sister was for people that. Host of war so pre or entering two divorces all kinds of checklists to make sure that you're gonna be okay would love to share that. Women and wealth action guard with few. Simply are you to do is to one of these two things going our web site. Just don't lose the money dot com. In beat quick under the action guide women well action guide you can actually download it right there and then. Or give us a call at 8776308787. And tell the operator you want your copy of the women and wealth action guy in fact she was a warning can I gonna talk more about this way norm show. But also on February 22. In February 23. Susan and I won't talk very specifically about how to make certain. The women and welfare and all of the things that go around that. And how you can follow our two simple rules rule number one just don't lose the money and number two don't forget rule number one when I was referring Tuesday. Is the retirement survival workshops on February 22. In February 23. Please join us you can get more formation by logging onto a website that just don't lose the money dot com. Click under the workshop tab and no tie exactly where to go and how to go about signing up. OK next a conversation. With our very good friend Susan Warner. About what she knows best how to protect yourself from financial ruin stay right here. Hi I'm Bobby office manager for Richard Rubino and Sam lane to schedule an appointment with rich and Sam call me now. 8776308787. That's 8776308787. Welcome back. To just don't lose the money and with Sam playing an attorney Richard remain out for the last two decades salmon rich have been helping people just like you protect their life's work. By following two simple. Now country music superstar Martina McBride with the rule number one. Don't lose some money. And rule number two don't forget number one. Welcome back just don't lose the money radio on same playing in you know once in awhile we have a special guests I guess she's not guest Susan Warrick well into the they'd like to guess I'm I know I like to think of special you wash it up I guess pressure on the always way over the gets part but yeah especially sites like so lucky enough to have Susan in studio once again once in awhile like maybe once a month she comes and loves you love the cold as way to combat the truth is they can't shake me I am stocking sim and rich and right and I just say out loud and now everybody knows well the reality is rich is actually trading places YouTube's news and sunny Florida yes he I think he's staking his toes in the sand with. Some girly drink and an umbrella and then but I he's on the good times are you headed to the spot he's a shell collector to show folks know theft. Really he'll come over this pockets full of shells. Oh I know what people know Soledad in Louisiana to watch his gift to the staff at work is always shelves it's great. On anyhow. It's February read in the middle of it and we have a special day coming back coming around February 14 Valentine's Day and this month is also special because my mom turns 100 in two years old amazing China crazy right she's great folks say to you always ask. About my mom and a billion. She lives with me and Stuart Florida we're having a great time and she is remarkable. In every way. Well this month is not only just valentines but we have a special theme for the entire. Month it's entitled women and wealth and it's Carol Connor and Paul we have a lot of clients that have come to us after they've lost the love won't know. We have some single clients we have some clients have been divorced and you know I don't know was some sort of what this him why dresses but. Mean many of us feel like you know I always takes always takes care of the finances when time that's not true at all. And a lot of times. Ladies. And sort of need maybe need a little helping him. And we have this special. Video right on our homepage called women in wealth it's actually has Susan's picture on Iran and our home page. I just don't lose the money dot com we encourage people checked it out. In a teacher a thing or two about making sure how you can keep your finances. I'm in a safe place and most important following our two rules were number one just don't lose the money and world number two. Don't forget rule number one yeah I just I thought you almost forgot. Who would ever be hesitate a little bit of an Emmy nervous so. A woman and welfare and you probably have a lot of friends and you know you when your mom just it's sort of like the poster child making sure you need to take care of itself. It's so true as I mentioned my my 100 in two years old wonderful in every way Smart about so many things. But honestly CME for me say it before she was so busy taking care of my brother and I'm a father traveled all the time. She had a part time job she was very Philanthropic. Busy busy busy. Never paid attention to any thing you really had to do with her future yes in terms of how she was going to support herself and she never expected to live. As long as she hasn't sank fully here she's with me we have my pension. Because her money. If it wasn't for her Social Security. You know. There's nothing which is great but it's probably most people is probably not enough good stuff from another you know it's it's actually I don't think it would be enough for a lot of people. Are you a lot of times we do seminars with me these retirement survival workshops. One of things that you say is you know when I was a channel five many years ago united no good and I want to work every day. Ten hours a day you grinding you know you're doing newscast and reporting in awe and all that. And then before you know what it's at the end of your career and you walked out of channel five with a with a great pension. I was like you belong to a union and and that was all part of being a union members you know putting money into that account every month. Pension everybody says Penn I never paid attention on the staff and I think Blakey said most people don't. As and when you when Europe those survival. Workshops. You see you say that and then I meet some of the people about it attended a workshop me they say me I can tell how many times people are set to meet. I want what's SuSE so once that pension. We have some clients that in fact I was sick in about a client. I just saw maybe about two weeks ago when a client of arsenal for five years. He retired as a worked in the union in the room. Not the plumbers you. I'm sorry the if conditioning. And heating unit commission union HVH TH of things euros loss worse the second. And he gets a bow. Close to 60000 dollars a year 5000. Dollars a month for as long as she's alive well what a wonderful thing you know. Well I don't think people fully understand that they can make their own pension. That they can set up an account that actually yes them that way and it's some of the workshops we've been recently people of come up to me app yes it's a year off the what you're tied to do that and that's the whole point yet so. You know there's a little known thing out there a lot of times people have heard of ivory rule verse well. Many people have never heard of what they called and in service distribution rule and that's essentially. If you're 59 and a half. And let's say you work for a you know company APC. They have their own 401K. In this sense she should know I hope that money should it continue to grow is I'm a retired couple years. Maybe the economy's change a little bit and feeling nervous on getting sort of worried about losing money. And you put you know the good news that you ought to keep everything there. You can do with what I just refer to us in service distribution that's essentially a tax free rollover. Some of that money that's in the 401K. All of the money that's in the four when came into your own irate. Where you can use fixed annuities to create your own personal pension if you don't have one it's a great idea to connect to consider. If you have a pension is not quite enough it's also green I did concede because it's secure yet I'm in a few people fully understand that that's exactly what it means is it every month. You are going to get an amount of money however much put in and figured out. Ditch has come since you don't have to think about and it's the same time take care of your family precisely you know I did that. I don't work for union I worked myself so I don't realize how important it is to save money. I also realize how nice it is does that mean to you many many clients. That happened that no no no where you stress free each and every month they gonna get a paycheck for life so I created. My own pension. Using a fixed annuity that I did maybe I don't know 67 years ago. And so from my whole idea is if I can sock away enough money and have and create my own foundation a great strong solid foundation. To spit out at the end of of my my career may be you know 100000 dollars a year. We'll have dusty you have no pills and you know mortgages you know and if kits and yes so. I'll be I'll be very comfortable and that's sort of whole premise of why we do what we do not when I talk to my mother about this as I mentioned before minimum and live together and to. It is thanks to my attention. And we talk about it. She is almost apologetic when she says that Susie nobody ever warned me nobody ever talked to media. And that's not ancient history that happens these days happens all the time you know one of the things that I do listening renouncing geez you know I don't wanna fallen about. To back category I wanna learn more I want to maybe be proactive and maybe there's some things that I can do my own. One of the opportunities that you have right now beaten to a couple of things you to log onto a website just don't lose the money dot com. You can actually check those Susan's corners it's entitled did you know to be clicking on that tab. Susan what speak to you about some of the things that she has done some of her own personal experience that I didn't know by the way folks and I and I am and I'm happy to tell yell loud admitted he did not know you can also check out the video that Susan I have together about how you can retire comfortably. If you click on. In my ready to retire. Milwaukee to a two to Oreo a quick on tests that the yen you can take deceived him that you're prepared and guess what it cannot. That's why I'm here. So from the next the remainder of the show you to call operator. And ask for your free no obligation free retirement planning consultation that's exactly precisely. When you get you get an all my time in economy would anybody other than me. And when you come in on the first or be your first tie there's no heart so it's not going to be asked to sign anything which sort of chit chat. I wouldn't be involved folks if there were any of those things us and you know maybe 41520 minutes we get to know chill a little bit and it Vienna meeting. Lessons of the the shoes gonna federal it's not benefit and you're gonna realize deep down. In your gut hey you know what maybe I finally found the right place to help me prepare for retirement. And once in awhile it's not the right fit so it's okay we shake. Many new friend and you know off we go it's not nobody steals and Colorado about times so on that note. Would love to have that opportunity CU we can be of service to you call this number. 8776308787. That number against 877. 6308787. Also had just don't lose the money dot com direct. You're taking the first step to sound financial retirement. This is just don't lose the money radio. Big free to visit us at just don't lose the money dot com. Hi I'm Susan ward if you're listening to two of the cutest guys in finance radio. And I'm no huge. But prince Richard Rubino is Elena Rubino and blame the firm that specializes. In protecting your money both legally and financially. Stay tuned for more informative radio just don't lose the money dot com. Hey you know Susan's great you know she's does sort of seen allied. That you really cares about people without a doubt absolutely good friend Susan she is probably one of the most more one. Absolutely one in the kindest people you'll ever meet pushy sales so sincere and Donna earth age understands that. You know the problems at hand and she's not she's not like full of herself now she just a regular. To bring you a personal though she's been in the spotlight for 35 years after decades in the know say it's funny sometimes. Sometimes you when I won't go to lunch rich and once in a great while somebody recognizes who we are all you know we give mark credit card has name of our. Our company Norris and as she Serena went kind of northern who we all you guys on the ones on the radio. We'll be able go to a restaurant was Susan one ever really like everybody follows her to the bathroom it's kind of fun but anyhow you listen to just don't lose the money radio of course. And rich and I hear each and every Sunday. Shown you. How important it is. The avid ducks in a row as you approach retirement or are retired so thank you for joining us if you have a question for us our phone number is 877. 6308787. Always on the Internet for your. Educational purposes. At just don't lose the money dot com more FaceBook or Twitter we're gonna all backed itself. But the easiest place to find us is that just don't lose the money. Dot com web site's pretty good you know I'm not really your website guy but our web site is pretty good you don't say so we've you know my sense are you sorry and I saw us take our second question Stephanie writes India Richard sands. Army single woman who has worked all my life. I have a good job and out oh actually receive it pension. I know not be enough however. I have also a 41 K and I'm afraid it will go down before you get a chance to actually use it. I want something safe and guaranteed to last the rest of my life I'm planning on retiring in about five years do you think you can help me. Well I mean this is knee. She's singing a song rich history and SRI. And promising a song you know I don't know I don't know but I just try to song of the rowboat launches an oral boat alone it's like she gestured. Rely on herself like your sister and my sister and me my sister you know my sister took care my mom the years and years and it to my mom passed away at 99 years old OK my sister finally. She lost a lot of weight she has a ton of friends. She. And she has like sort of two sets of money that I set her up with a new help the US one is her court. Income are in common that just comes in every month and part of his so security part of his tune Moody's aboard obviously created a penchant for yeah we've created and have a so we procreate your own private pension. In the other pocket of moneys say discretionary mosey has money in the bank peachy inherited and now she use it to. Take a trip I wanna go to line where you don't know why ratio would you say. Rove auto loan you know often were you referring to is you know single person may be divorce may be single. Don't know rowboat alone I can sort of certainly visualize that but the reality is that. And Russia have a fantastic pension. Even if it's a husband and wife or spouse or partner. Or own a rowboat a moment because I hate us and you know news yet beauty you know if you need 5000 dollars a month. And your Social Security is 2.5 hundred dollars a month that means your short 2500 dollars a month. In an order to get that we all on and on our Rome nobody's gonna help us we have to sort of figure it out. And it's a shame because I think. I think the whole system the whole 401K. System has really. Sort of been. Why hasn't worked out the way it's poston and on and off anybody caught the article dollars and Wall Street Journal. In the Boston Globe it was actually pretty much every minute line every metropolitan newspaper about three weeks ago. And the headline was something like certainly the father of the four OK call that a mess guys says the withdraw one explain what a mess I created this mess. And essentially to think about it forty years ago. Everybody had pensions so the whole idea of creating a 401K it was actually good idea. The execution just wasn't that great. And they said they say they came up and I so look everybody has a pension and it's kind of boring Kimberly add more money if you want to so create this thing called for a one K. It gives you the ability to add money out more at the masses as you want and now being nice supplement to your pension retire. Well the problem is when they put in our 401K. In the next 120 years most companies did away with pensions Silas in the companies wanted to eliminate their risk as people living longer than they expected and Calipso. Companies did away with pension to eliminate that resonate the couched it as this is better fuel listen wasn't benefit was only better if you. Have you contributed like a lot of money but he and the investments actually went up. But other Mac at the end they were on the role of auto loan because that's all we have to rely on base and a day after work in thirty years what they expected to be a financial genius out right say that's a top crypto that's a problem so on the I know we have equate giveaways that I think everyone. Week it's called women and wealth action guide but fellas you can use it to its inaction guy where were you who serves show you the right path. Asked how to appear. For retirement in if you are in retirement to make certain that you not making mistakes and we wanna share that women while action guide with you. It's 32 pages we wanna send that out you free of charge. You can call on number 8877. 630. 8787. For your free copy against 8776308787. Or visit just don't lose the money dot com for your women and while action guide. You know getting back to what this person can do so if they hear and see what what's the what's the plan more what happened somebody walks in the office well there single woman says to me on when I retired about five years should I get a good job actually have a pension the first thing that we reduce who who to an estimate. Of what she needed. Minus when an estimate of what a pension and so security's going to be parents donated dollar and I'm gonna get seventy cents okay going to show up thirty cents potato. And then you mature you testing me in my mouth you know I just use a simple examples I can remember so our question was are you are right good. So our question was shares a 401K. And I'm afraid it's actually gonna go down before get a chance to use it. So you know can that happen they won where one tweet away for going down you know trying to unfortunately that's the case though the reality is that. In today's world I think is more certainty. Is more doubts is more worries. With people that are in the retirement phase. And anything can happen right so if you don't want. Bad things that happen now or fracture bottom line. One of the things you can do earlier we said how rich his sister Rory and I helped to create her own pension. It's as simple as that she cull out a portion of your savings. You put it into a fixed annuity. You don't let it grow or if you need income right away you start taking come out. Every insurance company has different factors but give or take if you're seven years old. You can take out of a 5% of wardrobe you have. Set aside. Which will be guaranteed for the rest of your life regardless of sort of interest rates the economy how long lived so on me on a rough number VF 500000 dollars you can take 125 Korean a year. Guaranteed for as long edge of your life. Even if you live to weight to under intense. Even if your Susan warnings mom was under and choke somebody is still here it is cynics user some of these companies have inflation takers to open any of inflation kicker is they have long term care writers. The long term care writer I love because. You can get it you don't have to. You often medically qualified. So some of those folks out there that know they can't get long term care insurance but I was so worried about the problem. You can take some of that money. Do this what we're just referred to and then if you getting 25 grand a year you get sick in nursing home home health care. That's when 5000 non doubles. And in many cases double to five years. And then it goes back to the version number for the rest of your life so it's it's always saying so it's all in one product it's not like you buy into a three don't it's all one product it's easy to use it's easy to follow. And here's what I encourage you to. Number one. Yet I'll give way today women are well action guide call this number 8776308787. The next thing you really got to put into action. And you know. All these great ideas they don't work all by themselves you need to do something about it so one of the things that I like to offer is. An hour of my time free of charge if you feel that you need some help each don't know where to go we don't know where to begin. I am here to help you I'll give you an all my time free of charge as a free retirement planning consultation. Will meet we'll talk about. You concerns. Dorsey the sure effects of his shoe fits fantastic once in awhile the shoe doesn't fit not the end of the world. I'm offering my turn to you to get a free retirement planning consultation with me. Call this number now 8776308787. That number against 877. 6308787. For your own free retirement planning consultation. Next in the spirit of Valentine's Day and we're gonna talk about making sure you leave a legacy to those. You love hi somebody office manage Caribbean island Lang I don't regions and scheduled better than I know my own and their calendars getting home. If you'd like to meet with Richards Sam call me now how could she went ahead in the line but promised not to tell. 8776308787. You call I'll answer 8776308787. Welcome back to you just don't lose the money with Sam playing an attorney Richard remain out special guests on the show Frank Luntz thanks Sam. I love the name of your show just don't lose the money if you are as it all right but that's how people feel that they're nervous that's because of the economic conditions that exist today they actually could. Lose their retirement nest egg and that's where people if you are so important. Now they acted just don't lose the money went Sam Wang an attorney Richard Rubino. Just don't lose the money nonsense while merger will be now thanks so much for joining us this wonderful day to all the ladies out there in two days happy Valentine's Day. Rich and I we've been very blessed the last 2526. Years now. We've created on how long you've been married. Non Tom how long you when I've been married oh that's right her family were married almost the same publisher Larry cannot beyond celebrating my 25 anniversary this son. This August she's outselling the celebrating my forty fourths the September big year literally bring our not only do we have valentines and a couple of days. My wife turns fifty. In April. We fifth anniversary. And artists. You have your 40 like generated big checks they just don't let your Patterson after I got out she reset to each other were re doing our kitchen so we say no one know give sources. We've to a kitchen into right so. I guess that's a gift you have to owners anyways. Thank you for being with us the last almost 25 years in rich and I'm very proud of the company that we've built. And you know really I think we're unique in the sense that. People can come here and get a lot of things you know we start with the concept concept saying. Pay yard to rules just don't lose the money really require a legal arm and a financial arm so the legal arm is liked by our mama lawyer and we do we don't know where auditor yes sure sure it's like avoiding probate leaving a legacy protect your house for goes in the nursing home. So when someone comes into our office. We cover both legal and financial. Security and on the financial and it's not like we're traditional investment folks so please understand that. Don't come to us expecting great returns in a hot tip of the day. That is not with sixty to end. Yeah six or post sixty not a kid and now while we know we are sort of like our man. Where in the red zone you know people that come to us are in their retirement red zone close to retirement. They want some certainties they want predictability they went guarantees. They don't want occasional brilliance. They just wanted to make sure they don't lose any money aren't follow those tools right rule number one just don't move and move on number two don't forget rule number 113 reconcile with today. How would give away again is entitled women and wealth action guide. It's a 32. Page book quit. Whereas tons of checklists for different situations. We'll tell you precisely where you need to look 04. What to do and we love to share that with it's a very useful action guide against entitled women a wealth. Call this number 877630. 8787. For your copy of woman and wealth action packed are we have a little time rough which kicked our last question. My author and Clark writes in the rich and Sam. My wife and I just retired. And starting to take out our required minimum distributions. We are fortunate in the fact that we're not. Using all the money to live on. All of our money to live on we do not need the required minimum distribution. And we would like to see. That we leave something for our children and grandchildren. Wish we put the required minimum distribution. Well the salmon sounds like this you know a lot of people that you see and that I know and I see. They have most of their money in IRA recent retirement funds nine out of ten people have IRAs and 401K a focus savings tour ends and they don't and that's it looks like a big number when you first see it but it's really not that big because. 40% of head. Belongs to the governor that's exactly right now big issue think it is sick and then you know if you leave that preview for you kids in your grandkids. Well. They don't get the whole dollars they get sixty cents or here's a big problem you know if you if you are like most Americans. That judges are out there you're grinding you know you're working hard. You're trying to do the right thing c.s Macs are your 401K hopefully your employer matched you a little bit. And then now all of a sudden you retired senior wanna feel pretty good about what I've done. I get this you know big 401K it's happened knowing box and I can use that. Yeah that's right the problem is to be ballot got half a million bucks they might become. 300000 dollars to your kids or not only that same but the kids had to take out that. For a dead IRA money within nine months of receiving it so if you're. Got through give parents died when you're forty years old you could start taken out that money at forty years. So a lot of times we see people and you know sometimes you identify this right away because they tell you hey you know lighter more money than I can ever use I don't need the money. But other times you can't identify this to people get a little bit of rhythm in retirement. And after they've been retired for five years they can clearly see that probably not gonna use all their money. So when have meetings with people one of the things that we look for his money that given huge. Money that you think you're gonna use and then money that you know we didn't know we're gonna use. And with the money put the part of money that you never even you know you're never gonna use. Like these people hey I I'm taken armed forces take up my required minimum distributions. It's you know 20000 dollars year what I do that I don't need it. Money that you don't need to use one of the options. Is you can set up a trust. Put the money into the trust every year that you don't need to use you could advance investor sure you could do whatever you want bison mutual funds absolutely could do that. But it would have to grow. Often times what we recommend is assuming. Assuming all the indicators are there the people know they don't need the money the people are relatively healthy. And if that's the case and you motivation is to leave a legacy do you children what better way than to leave them. Income tax free money state tax and income tax free that's when I dead yet you did a radio program when I did say okay. So you're unemployed you drill number is only about half hmmm so we did that work maybe 34 years ago four years gone off my four years ago so you when your wife said you know 130000. Dollars a year coming in now. When our site taken our required minimum distributions. I don't need it or are doing. So we set up a trust. 30000 dollars goes in and we anticipated you do this for ten years. After ten years you wanna continue doing it great but you know I don't have to have continued I you don't have to exactly. So after ten years you're done you consume you can do whatever you want without money I don't have the bill anymore let's put it that in the bill you refer to was an insurance premium that bishop recessed. But 30000 dollars a year. And if I do this at ten years which means I'm gonna putting them with my own money. 300 grand when I die. What All My Children get and we were able to go while they're into the marketplace. We did in surged search. And we got you a million dollar life insurance policy which essentially pays out two children and grandchildren. Income tax free estate tax true also we put that policy in an irrevocable trust. Which protects that money you've got to bid me a more including nursing home. The protection from a state taxes so make no mistake about it penalty Centex 100% tax free. If you're listening think you need your money don't do this this is not a great idea. But there are people that are listening right now. I have a motivational leaving some assistive the children there won't help them they don't need the money this is a great thing for you to consider. It's entitled just very simple it trusts would life insurance right so to learn more about that. We encourage your check out our website at just don't lose the money dot com. You can get a lot of useful information. The other thing you can do is get our would give away this week entitled women and while the action guide all you have to do is call 877. 6308787. Did your free copy 32 pages of useful information about how to prep here. For retirement and then lastly would love to have you as our guests at our upcoming survival. Workshops retirement survival workshops are we conducting now along with my good friend colleague Susan Mort. And I'll be on February 22. And February 23 log onto. Just don't lose the money dot com click under the workshop tab for more information. We'll be right back. Just don't lose the money radio will be right back. If you have questions. I would like to schedule a no obligation meeting with attorney Richard are being hours inland please give our office the call at 617630878. Southern. Or visit just don't lose the money dot com. Ever wonder religions and get all their work done they start by calling me. I'm Bobby office manager at revealing. You can secure your financial future of the same way by throwing me you call I'll answer 87763087. Eighths up. 8776308787. Just don't lose money on the Sam line I'm Richard Bruno and thanks for joining us is wonderful Sunday. Which you and are always so fun when Susan's on the show hey this is this is one of the only times I see during the week you're busy guy down long you know it's it's never too busy. To make certain that we help people follow all the tools rule number one. Just don't lose tomorrow and we'll number two don't forget rule number one just a quick reminder we love to have you as our guest. An hour of upcoming retirement survival workshops only a couple of weeks away. February 22. Will be at the new marry on. And then February 23. Will be at the Montreal plaza and stone. Except in places such going to and we love to have it have you again and so I guess that retirement survival plan. Shark come on just need Susan absolutely can't check got a check so I just don't lose them money dot com for more information. You can insert receiving went to him all right enough without talk to all the ladies out there happy Valentine's Day. And have a wonderful recipes and they think it's to me insane but I don't see why I'm merger review have a fantastic day the information on this program is not intended to provide legal accounting. Through investment advice for you for being on sale. Examples of feeling like LLC and Arnelle insurance agency only see and that's broker's license 17833. Town. I understand every door revealing life. Are registered investment advisor is not a good investment advice. This shows services.