[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:17] Speaker B: You're tuned into the Retirement Planning Pipeline, the show that helps you take control of your financial Future. Whether you're 5 to 10 years from retirement or just getting started, we've got the strategies, tools and experience to help make the most of your nest. Eg.
Retirement Planning specialist David Pipes is a trusted voice in retirement planning, helping Americans navigate 401k rollovers, income planning, tax strategies, and everything in between.
Now let's dive into today's show and start paving the way to your smooth retirement. Alongside retirement specialist David Pipes, here's your host, Jim Tarabokia.
[00:00:52] Speaker C: Hi everybody. Welcome to this week's edition, a brand new episode of the Retirement Planning Pipeline, the show that delivers expert insights, actionable advice and real world financial strategies to help you retire confidently and comfortably. Thank you for making our show a part of your weekend. I'm your host, Jim Tarabokia alongside a retirement planning specialist, David Pipes. David will be along in just a moment. Keeping more of what you earn Smart Strategies to Reduce Taxable Income in Retirement Most Americans spend decades focusing on growing their retirement accounts, but very few spend enough time thinking about how much of that money that they'll actually get to keep. Well, today's show is all about strategies to reduce taxable income, improve retirement efficiency, and potentially create more flexibility and confidence in retirement. And later on, we'll also discuss the latest market news, volatility concerns, interest rates, and what investors should really be paying attention to right now. That's all on the way, but first, before we get the show started, I want to encourage our listeners to go ahead and schedule your 100% complimentary consultation with Retirement Planning specialist David Pipes today.
It's a free offering just for listening to this show. Our listeners can meet with us to review their own financial situation for your family or for your business. And there's absolutely no obligation. Visit retirement planningpipeline.com let's kick off today's show, the Silent Retirement Killer Taxes why reducing Taxable Income May Matter More than Chasing higher Returns when people think about retirement planning, they usually think about investments first. But taxes can quietly eat away at income over time, especially once like RMDs. For example, Social Security taxation and Medicare surcharges enter the picture. So David, let's talk about the differences between tax deferred and tax free income.
[00:02:36] Speaker D: Thanks, Jim, and hello to all listeners out there. Glad to be back on episode 30.
Really, really, you know, excited to continue this year on. We've had a great year.
Um, a lot of volatility going on. But first of all, like Jim just talked about, let's talk about tax deferred versus tax free. This is a big problem right now. Um, we're seeing this happen a lot and I'm sure a lot of listeners out there say to themselves, man, you know, David, please clear this up because I think people get, you know, misunderstood on the tax free side. When the majority of funds when you retire aren't tax free at all, they're actually tax deferred. The only tax free account if you're out there that you have is probably going to be a Roth ira. And sadly, the IRS makes you have a contribution limit to that. So you can't put in all your funds that you want. A lot of different styles, right? In the past 30, 40 years, the IRS changing rules. A lot of you out there have tax deferred accounts. And the difference about that is, is that, yes, you didn't pay the taxes on those funds, even if you think you did. I have clients all the time that say, man, David, I think I paid taxes. No, no, no, they took it out of your paycheck when you were, you know, paying into, whether you're health care, whatever you're doing, you have your own 401k account which is tax deferred, or you've contributed to an IRA or a SEP ira, self employed ira, or, you know, something of that nature. Now, the biggest problem with that is no one wants to really know. No one knows how to do that efficiently. And people think, oh, I just can, you know, take out money for certain tax brackets here and there. There are definitely many ways that people think that they can take advantage of this. Actually, some people, and I'm sure some of you out there are, I'm hitting this on the head with you guys. You don't think, think you don't know that you can actually take it out. People have 401ks. I ran across a client literally last week and they said, you know, David, well, I can't touch my 401k. And they're 61 years old.
[00:04:25] Speaker C: Yeah.
[00:04:25] Speaker D: What do you mean you can't touch your 401k? Well, when you're 59 and a half, you get the advantage to where a lot of companies won't tell you, but you can actually roll over your funds from your 401k or your 403b. This is where things get tricky and people like, well, rolling over into what it's a non taxable event. You roll it over into that ira. But we won't get too much into that because we've got some more down the road. We're going to kind of make things easier to understand. But that tax deferred account, when you start taking income off that when you do retire or when you plan to retire. But I think the most important thing to understand here is tax deferred accounts, okay, are meant for growth and compounding until you retire, okay? But there is a point when you are about to retire that you need to plan those tax deferred assets accordingly. This is what I specialize in and this is what people don't understand. And a lot of advisors are trained the wrong way. People want to keep them in the market fully aggressive and you know, maybe even in something that's not growing, you either need one or two options.
One is you continue to be aggressive and grow. If you are doing that, the money is not meant to be used. Do not, you know, like Warren Buffett always says, if you're going to buy a stock or any stock of nature, make sure that you understand that you're going to be holding that for 10 years or more and don't think less of it. All right? So don't say I'm going to stay in the market till I retire. Position your assets for income early if you know that you're going to need income and that that's going to be a necessity in your retirement and you're going to have a loss of income when that time comes, right? No pension, your Social Security is not going to cover everything. Right? We went over this in further episodes and in prior episodes. You've got to plan for down the road for income and I cannot stress it enough.
So again, if that's a major concern out there, and I know this is probably I wanted to do this for this episode because I think a lot of people out there are very confused and they're not understanding properly on how to transition that 401k money into an income producing asset or maybe even what to do or how to even do it, right, that's when you guys can give me a call. I can easily help you. You know, it's a sit down consultation. It's absolutely free. You know, it's, you know, there's no obligation at all.
Even if I can, you know, teach you something there and give you some education. That's what it's all about. So again, guys, that's, that number is 850-565-1705. Again, that's 850-565-1705. And don't hesitate either. You know, I talk to Jim about this all the time because a lot of people call in, they say, you know, David, well, what do I need to bring, you know, what do you need for me? It's not, it's not a, it's not a crazy scenario. You can come in just with, with nothing, you know, ask me some questions or call and ask for questions.
You know, there really is no obligation. We just want some feedback on what you guys need help with. I know there's a lot. I know that, you know, retirement is a big, big step. Planning for retirement is a big step, and I know that also, you know, being in the field, I know that people don't like to help out a lot. And, you know, there's a lot of money floating around everywhere. I know it's a tough, it's a tough place to be. That's, that's why I love what I do. I had the passion to make things easier for you. And if you're out there and you need that help and you need some, you know, you need some freedom, you need some understanding, you need some education, that's when you can give me a call.
[00:07:45] Speaker C: Have you seen scenarios where retirees unknowingly move into higher tax brackets because they're not maybe planning correctly for retirement? Is that a scenario that you've often seen?
[00:07:58] Speaker D: All the time. Yeah, all the time, Jim. And that's. Sure, it's, it's funny because that's, that's the one thing that I try to get someone to understand too, is first of all, no one's going to teach you how to take it out. But second of all, no one's going to teach you why it's not okay to take out certain amounts.
And that's where I think if you do it efficiently and you have someone educate you on what you can do, how you can do it, and then plan with you, your life is just so much simpler, Right? I mean, you know, clients with smiles walking out of my office, that's, that's definitely what makes me love my job. But getting to that point, Jim, tax brackets are always going to be a problem. And when you retire, your tax deferred accounts like we were just talking about, a lot of them are tax deferred. Don't Think they're tax free and don't be scared about taking them out. Just know how to do it and try to understand and educate yourself on what to do, how much to take out, what tax bracket that's going to affect, and more than likely it's going to be okay, right? Don't stress about it. And that's, that's why I think it's so important to sit down with, you know, an actual plan and understand these things and educate yourself because you want to know where your money goes, you want to know how it's affecting your lifestyle, you want to know how it's affecting your taxes, your tax brackets. So these things are super important. I just don't feel like everybody's talking about them and giving people insights because no one wants to talk about someone taking money out. Everyone wants to talk about investing it, right? Give me all your money and let me make you money. And don't worry about it. You can take it out when you want. These tax deferred assets are the most important part of an actual retirees life. They're the most, I believe they're the most important asset in any retirement lifestyle. It really is because if you, if you use it the wrong way, it could make or break your retirement, right? That is your retirement plan. I mean, pensions went away for, for, for a reason, right? 401ks were made as a personalized pension. That's what they, that's what they were made for. Learn how to utilize that into your personalized pension and, and you know, educate yourself on that. And that's, that's why we're here. You know, I think I, when I came into the business and I started this, I didn't realize how many people didn't know and just they thought they knew and they weren't educated enough, Jim. And you, you, you made a great point.
People don't know things so they just, they kind of react, right? And these things cause different circumstances and you know, different consequences and that could be a tax consequence, right?
Set yourself up early. You know, if you're 50, 52, 53, 55, maybe even 60 and you're planning to retire at 65 or 70, plan it now. Don't wait. Right? I see so many people that wait and all of a sudden they're like, well, David, I wish I met you five years ago.
And yeah, you know, I could always help in any age that you're at, but the earlier the better. I cannot stress it enough. Yes, you might not have the big 401k that you will when you're 60 or 65. But you have to understand that planning those assets is important, too. But once you have me at 55, you still have me when you're 60 or 65. Right? We can still plan accordingly. Okay. But taking the stress off your shoulders, I think is the biggest problem right now. The United States in general is everyone, every retiree has this big old rock on their shoulders. And this, you know, this kind of, it's a feeling that you don't really get unless you're getting to that point and you retirees out there and you guys are planning for retirement, you know it, you know, that worry of what am I going to do? Or how much am I going to make? Or I got to make sure that my income thresholds there, what tax bracket am I in? All these questions are just going through your mind left and right.
And, and to, to have someone to take that off your shoulders and to educate you and to put that ease on. It's just a different feeling that I can't explain to you. And you know, I do it every day. So it's, it's just, it's something that I think that everyone needs. Well, I know everyone needs, but some people obviously, you know, they, they wait till later. Just don't procrastinate on this. And, and if, if you and any listeners out there have questions or, you know, have questions on what type of funds they're in or, you know, what best to do with their tax deferred assets or where to throw it at, Right. If you don't have a lot of money and you're putting money in, call me.
I'm not going to give you a minimum requirement, okay? I'm here to help anyone out. All right? So again, pick up that phone and just give me a call. We can talk and see what you need help with. It's 850-565-1705. Again, that's 850565. 1705.
[00:12:31] Speaker C: You can also visit the website as well. Visit retirement planningpipeline.com and schedule that free no obligation consultation with David again allow us, among other things, to inflation proof your portfolio to ensure a successful retirement future. All right, coming up next, practical ways to potentially lower your lifetime tax burden. That's on the other side, the retirement planning pipeline. We'll be right back.
[00:12:53] Speaker B: Visit retirement planning pipeline to schedule your free no obligation complimentary consultation today. The retirement planning pipeline will return in just a moment.
[00:13:08] Speaker A: Retirement should feel secure, not uncertain. If market swings have you feeling uneasy, you've probably heard about annuities, but what aren't they telling you? You deserve the full story. That's why we created a free guide that explains the good, the bad, and yes, even the fine print. Inside you'll learn how annuities Annuities can create guaranteed lifetime income, what fees and surrender charges may apply, how the different types of annuities really work, and whether an annuity makes sense for you. It's clear, straightforward information so you can make a confident decision. Call Amerilife now to get your free guide to annuities, the good, the bad and the fine print. Call 866-554-9546. That's 866-554-9546.
[00:13:47] Speaker B: Cylex annuities contain withdrawal charges and interest and bonus recovery and market value adjustments that may apply to withdrawals made during the withdrawal charge period. Sidelex annuities are products of the insurance industry and not guaranteed by any bank nor insured by FDIC or ncua. NCUSIF not a deposit not insured by federal government agency. Guarantees are based on the claims paying ability of the issuing insurance company. Restrictions apply may only be offered by a licensed agent. Welcome back to the Retirement Planning Pipeline alongside retirement planning specialist David Pipes. Here's your host, Jim Tarabokia.
[00:14:18] Speaker C: Welcome back to the Retirement Planning Pipeline. Thank you for making our show a part of your weekend on WCOA News Talk 104.9. And as we dive back into today's show, a reminder. If you like the content we're providing, subscribe to our YouTube page, YouTube.com and search retirement Planning Pipeline for weekly video highlights and special content. Hey, are you concerned about Social Security? We understand that many of you are worried about the future cuts to Social Security affecting your retirement. Well, we want to provide you with a Social Security maximization plan customized with you and your spouse's benefit information. Give us a call today at 850-565-1705 or contact us on the website retirement planningpipeline.com to take advantage of this complimentary offer today. As we always say, we love helping our listeners smart tax moves before and during retirement. Practical ways to potentially lower your lifetime tax burden. Before the break, we talked about why taxes be could become a major issue in retirement. Now let's discuss some of the strategies people should at least explore with their advisors and tax professionals. David One thing we always emphasize is that tax planning isn't about avoiding taxes illegally. It's about being intentional and efficient with those tax strategies.
[00:15:34] Speaker D: Yes, sir. And I think one of the biggest things and everyone out there can kind of understand this is really when to use.
Right. Your non taxable money. Right. Your non qualified money or your after tax. Right. And that's a big, big question. And it all depends on you. It all depends on the person. People want a strategy that fits for all. I'm sorry to tell you, no strategy is one size fit all. When you go to the whiteboard, I mean, and I do numbers every single day and I have a different client in my office every single day. And every single client has a different plan. And that plan is tailored towards them and their strategies and their expenses and their healthcare and their, you know, their house. Right. Their mortgage payment. Right. Their liabilities, their what, what else? Right. They're traveling, their grandkids. Right. So all these things add up and people have different expenses. You can't treat everyone the same. And why I say that strategies are important is because if you don't know what your goals and how to assess those goals and that's going to be totally different to, compared to everybody else. So you can, you can go online, you can sit here and call me and say, David, what did you do for your last client? And I'll tell you, you know, something totally different that I'd probably do for you. Okay.
[00:16:45] Speaker C: So every, by the way. Right. I mean that's the way.
[00:16:48] Speaker D: But sadly it doesn't happen like that, Jim. And, and I think everybody, the listeners out there, they know, they've, they've been with financial advisors, they sat down with them, they've, you know, they say the same thing. It's a broken record over and over again. Well, let's just put your money in the market here. How conservative do you want to be? It's like they're going to put you in the same class as everybody else is. And it just doesn't make any sense. And I feel like they should be knowing the client, understanding their goals and what and who they are. Right. Have some questions for you as the client and you listeners out there that are wanting to retire your ideas and your goals and what you want to do is more important than anything else. And the strategy then is tailored towards that goal. And you know, those expenses. Now things are going to change. Right? But that's my job as the advisor to be able to advise down the road and change. Right?
[00:17:35] Speaker E: Change.
[00:17:35] Speaker D: Don't stay still and not change. I can't stress that enough. Life changes. Don't be scared of change. It's going to happen. Right. Your car is going to break down one Day, you're going to get a new car, your house is going to probably need a new roof. Things are going to happen. You have to learn and you have to have the person to educate you on how to adjust for that change.
And you know, that's, that's a big thing in retirement because retirement is a change, right? Everyone, every listener out there knows that when you retire, things are totally different. You start to use money that you have never used before instead of the income that was coming in from your job or, you know, a spouse's job or, you know, from, from, from something else. So I think that, you know, the first topic is, hey, look, the strategies that need to be tailored towards you. You need to look at expenses, okay? And that's huge. But you need to come in and you need to plan and sit down to understand, hey, where are my discretionary expenses? Where are my discretionary money? How can I make sure that my life is going to be easy and free, free of worry in the retirement phase. And I can't stress that enough. So many people want to have that. Well, not want. I think they just, they endure, right? And it's funny because you listeners out there know this, you're probably nodding your head right now thinking to yourself, yeah, I do that all the time. I worry, oh, well, how can I even spend this? Should I even buy this? Am I going to have enough money in five to 10 years, you know, for this? Or how much should I spend each year to make sure that I'm okay?
I get it every day. And for you guys out there, it's not, it's not about what you need to worry about, right? It's about the planning atmosphere to make sure you can do those things.
In that way you don't have to ever worry, right? That, that, that stress on your shoulders, the, you know, the block is just gone. And you don't have that weight on your chest saying, well, I don't want to spend this, or I don't want to go on this trip or I don't want to travel here. It's more of, hey, look, you know, I sat down, I've educated myself on my plan. I can do these things now without having to sit and wait five days to even make the plan. And I think these strategies are what's going to make retirement and retirees lives better. And for all of you out there thinking to yourself, hey, I want that retirement that I wanted to build when I was, you know, 20, 25 years old.
You can have it, okay? Just, I know it's hard. I know it's hard. There's a lot of people out there that aren't helping. And I get it. I'm in the industry. I'm the guy that saves everyone. I get it. But the same time, you have to educate yourself.
Education is the most important thing. And you don't. You don't have to be, you know, have a master's degree in retirement. What I'm saying is educate yourself on where your money is and the basic points of what it's doing for you. If you really did that, you'd understand that nothing that you're probably even in is even worthwhile, right? Half of your money's probably in accounts that you don't even know that aren't working for you. And not your strategy, because it's placed in a strategy that everyone else is correlated in.
So, you know, to make it easy for the corporations and the institutions, they make these mutual funds and they say, hey, put this person in this class and then that financial advisor or that, that representative put your money in that class and you think it's the best for you. It's just not the way it works. And retirement is where you can really take advantage of these things and make sure that you can, you know, go for your goals, right? And if it's, hey, I want my money to grow for me, and I don't want to touch it, okay, great. Well, you're in an ira, so you've got tons of ways to buy and sell securities to be able to get growth without paying capital gains tax on them. Unless you take the money out, which you're not planning to. On the other side of things, if you're looking at, which a lot of people are, if you're looking at using the 401k money, or even if you're using it now, that's when you really have to come up with a strategy and a smart and efficient strategy. Or those taxes, like Jim was saying, that's where it's really going to hit you, that next tax bracket. And you're thinking to yourself, well, I'm bringing in this. Okay, well, which money should you use, right? Do you have savings? Are they just sitting there making a certain percentage and they're getting taxed on in the higher bracket, right?
Because all that money, all that savings accounts, whether you have a cd, whether you have, you know, a money market, all that's taxed as earned income, right? You get a 10 on our form and guess what? Or 10 that is taxed as earned income. So you're in that same bracket. You have to look at these things and understand where you're at now at the end of the year. Do it now. Plan for yourself, take the stress off your shoulders. Again, guys, I know I'm saying a lot here, but my main point about this is that there is plans out there that you can tailor towards yourself. And I know I say you and yes, it's with my help, but you have to be the person involved. It's not going to, you know, sadly to say you can't just give your money over to a corporation and expect them to care about you. I'm sorry to say it. Right. You have to come up with a strategy to educate yourself and use me. Right? Use a guy like me to be able to help you create that strategy for you and your goals.
So again, give me a call if you have any questions at all. We wanted to sit down and talk and ask where I'm from, you know, I love this stuff. I love talking about it. I love going through whatever you need help with, any questions, you know, we can go over and again, it's absolutely free consultation. You just come in, we can sit down and talk. The number is 850-565-1705. Again, that's 850-565-1705, a couple of minutes
[00:23:25] Speaker C: left in this segment. David, I want to ask you a question. When it comes to taxes, can a poor withdrawal sequence create unnecessary taxes in retirement?
[00:23:34] Speaker D: 100%. And that's just, but that's just straight math, okay? And I think a lot of people out there and these are, this is, by the way, this is why Jim's asking these questions for you listeners out there. These are a lot of the questions that we get, okay? Because these questions are what everyone needs to understand.
If you're not going to have the right sequence, okay. And you're going to take out, you know, an amount of money, you need to understand two things. Number one is tax implications on your tax brackets. Okay? That's a big one. Second is how it's affecting everything else.
All right. I'm talking about health care premiums. And yes, I said it. This is a big topic right now in the United States. Health care premiums are because of income. Income correlates directly with health care premiums. If you make too much money or your in earned income or adjusted gross income is too high, your health care is going to cost a fortune.
Don't kill yourself on one part because you want some extra money in your account. Right? Learn how to do it efficiently. Learn what deadlines there are. Okay? That's, that's where you really need to understand how to really correlate that with yourself and create that plan and be efficient with it. Also, you know when to use money. That's, that's, that's not taxable. Also Social Security. And for you out there, I'm sure you have tons of questions on Social Security in general, please just stop here. All listeners, if you have questions about Social Security or anything about it or when to take it, how to take it, you know, anything spousal, anything at all, please give us a call. It's a free consultation. We can sit down with you and go over any Social Security questions that you have with numbers on the whiteboard. We can do any of it just for you. And that's, that's solely independent. Everyone knows Social Security is very, very solely independent. Okay, so again, give us a call if you have any questions about that and then give us a call if you have any questions about anything to do with income or taxable income. Right. Deferred compensation plans, pensions. Right. Drop payout, TSBS 401ks. If you're taking money out at all of any retirement account, I'm going to probably almost tell you 99% it's taxable. Okay? Learn how to do that efficiently, all right? It doesn't cost at all. Right? Call, maybe you can set up a zoom meeting. Talk to me on the phone. Right? Does not matter either way. So again, give us a call. 850-565-1705.
[00:26:02] Speaker C: And again, tax planning isn't just a once a year event in April. The most effective retirement tax strategies are often proactive long term decisions. A reminder, reach out to us again, reach out to us today. Your own assessment plan. It's right there for the taking. David mentioned the phone number. We'll say it again. 850-565-1705 or visit retirement planning pipeline.com to schedule that free, no obligation consultation this is the retirement planning pipeline.
[00:26:29] Speaker B: Helping you take control of your financial future. This is the retirement planning pipeline.
[00:26:49] Speaker C: May is Military Appreciation month. A time to honor the men and women who serve and have served our great nation. And while we honor those associated with the military, members and veterans are fighting a different battle. Finances and purpose. I'm Jim Tarabokia for the retirement radio network powered by Amerilife. For many who leave the military, the biggest challenge isn't just money. It's finding purpose in a new civilian world. After years of mission driven service with tight knit camaraderie. The transition can feel like losing your compass. Veterans often speak of searching for that same sense of meaning, Brian o', Connor, co founder of Veteran Enhanced Technology Solutions, explained at a recent TED Talk where to start that search. Once you have your identity, you can
[00:27:34] Speaker A: then begin searching for purpose.
[00:27:35] Speaker C: We chose to focus on identity, purpose and belonging and do so through a routine of familiarity.
[00:27:40] Speaker A: We considered what did we do in
[00:27:42] Speaker D: the military that made us feel bonded?
[00:27:44] Speaker C: Financial stability plays a key role in the search for purpose. With a solid financial foundation, veterans gain the freedom to chase meaningful work instead of just any paycheck. Fortunately, several powerful financial vehicles are available specifically for former service members. The VA Home Loan Program stands out, offering the chance to buy a home with no down payment and no private mortgage insurance. Many also tap the GI Bill to invest in education or training that aligns with a new purpose driven path for those drawn to entrepreneurship. The VA and Small Business Administration offer support for veteran owned businesses, including special loan programs and certifications that open doors to federal contracts. Veterans can continue growing retirement savings through the Military Savings Deposit Program. And as CNBC Sharon Epperson reiterates, don't forget about the Thrift Savings Plan.
[00:28:34] Speaker D: It's a low cost version of a 401k that's open to all service members. Choose a traditional TSP or Roth tsp, which will allow you to make tax free withdrawals in retirement.
[00:28:44] Speaker C: So whether you're still in uniform or years into civilian life may As a good reminder, the best way to honor service is to make sure those who served are set up for financial success and purpose long after they take off the uniform. For the Retirement Radio Network powered by Amerilife, I'm Jim Tarabokia.
[00:29:01] Speaker B: Planning for retirement doesn't have to be overwhelming. Get expert insights, tools and personalized strategies to secure your future future. Visit retirementplanningpipeline.com today. Your retirement, your plan, your peace of mind.
[00:29:18] Speaker C: This is the retirement planning pipeline. If you've missed it or want to catch up on previous episodes, go ahead and subscribe and listen to the program and podcast form on Apple, Spotify or whichever platform you enjoy your podcast. All right, stay with us because coming up, what you can do now to keep more of what you've earned. But right now, it's time to unveil this week's Financial Wisdom Quote of the Week.
[00:29:43] Speaker B: And now for some financial wisdom. It's time for the Quote of the Week.
[00:29:51] Speaker C: And our Financial Wisdom Quote of the Week comes to us from the 30th President of the United States, Calvin Coolidge. President Coolidge said, quote, I want taxes to be less, but the people may have more. And again, our thanks to the 30th President of the United States, Calvin Coolidge, for providing us with this week's financial wisdom. Quote of the week. And if you like the content we're providing, subscribe to our YouTube page as well, YouTube.com and search retirement Planning Pipeline for weekly video highlights and special content. Continuing on with the show, switching gears a bit to the market. Market volatility, interest rates and investor anxiety separating financial noise from long term planning. One thing we know for certain, market headlines can create a lot of emotional reactions for investors, especially those nearing retirement. So David, over the past several months, investors have continued watching inflation data, Federal Reserve policy, interest rates, recession concerns, geopolitical uncertainty and the ongoing market volatility. Every week it feels like investors are being pulled into different directions by the news cycle. Unfortunately.
[00:30:54] Speaker D: Way, yeah, 100%. And I think that for everyone out there listening, you guys know, I mean, it's, it's pretty crazy. You know, one news article goes out, all of a sudden the market's flipping somewhere. And I think that that's, that's the major, major talk of the town. The other major talk of the town is, is, is where and it is an investor standpoint where the market is.
And that's tough to look at sometimes.
What I think so funny about it is in being, you know, being so, so really intrigued on the investment side and the corporations and stock building. You look at some of these companies and really there, there are a lot of companies that actually aren't very overvalued.
I think that the overall market. Right. That everyone's in and I think that's the big issue. So if you're out there and you're thinking to yourself, hey, well, the market looks crazy when you're looking at the overall market, SP 500, the NASDAQ. Yeah. I mean, you know, but you're looking at tons of companies, you know, Russ 2000. So what I think people need to understand is, is that you've got, you've got to understand this. Like Warren Buffett, one of my favorite investors of all time, you know, hey, guess what? I'm going to buy a stock at a low value price and I'm going to hold that stock. And I think people don't want to get the rich get rich slowly scheme. They want to get rich fast. And sadly, that comes with a lot of risk. And that really hurts retirees when, when you're fully in and you're Fully, you're, we call it systematic risk. Your systematic risk is at an all time high. You're fully in the SB500. You're fully in the stocks that everyone else is in, you know, and that causes more risk compared to, in the way that, that with that volatility and the market goes up and down and up and down.
That's what's happening is, is it's your, your funds are completely correlated with that.
Instead of saying, hey, you know, like I do as, as an investor, you know, for pretty much all my clients is I'm looking at, you know, a lot of stocks and corporations and I'm, I'm looking at values. I'm looking at what a company's valued at compared to what it's being traded at. And that's super. That's something that people don't do anymore, Jim. And it's sad because people want it the easy way out. They want to buy that index fund, they want to buy that mutual fund. They just want to let it sit, you know, and, and I just feel like the people out there deserve more than that. Right.
You know, and, and that's one thing that's, that's what a lot of my clients have said that's different about me is just, you know, I care about what my clients are, are making and what opportunities they have. There's always opportunities in the market. No matter who you ask, there's always an opportunity in the market. Now, are you always going to make money? No. Right? You're going to have risk and you're going to have pro, you know, you know, up and downs. But when you can buy a corporation at a lower value price, and if their revenue's increasing and if their income's increasing and if, you know, everything else looks good on the table but their stock is down and their value to lower price, that's an opportunity. Sadly, no one's looking at that. Everyone's looking at what, what the SB 500 is doing, right? You go on your computer and all you listeners out there, you're, you probably heard it today, this morning, right? You go online or you go anywhere on Bing or Google or, or even on your, you know, your radio show like I am, and all you hear is, well, the market's up this percent today or the market's up, market's down this point today.
It's all about those index funds. It's all about those, those indices, okay? What people don't understand is they don't, oh well, guess what? One stock's up 5%. Well, the whole market's down 8%. Okay, well, one stock's up 5, right? People don't talk about those things.
Everyone wants to talk about the general market of where it's at.
I think that everyone is so stuck on that, and I think that what they forget is that Warren Buffett's beat the SB500 by buying individual stocks, right? And yes, he's maybe had some years that weren't as good as the SB500, but he's overall beat it, right? So these kind of things, I think that, that people don't really realize a lot of is, is it's not always about what everyone else does. Don't just hop on the bandwagon. And a lot of people can understand that. Look at GameStop, right? You hop on a game, you, you hop on any bandwagon, the odds of you getting burnt are higher. And I don't, I'm a probability guy, Jim, okay? And for all you listeners out there, if you don't know me, and I hope you do get to know me, I'm a math guy, if the numbers don't make sense, I'm not doing it, okay? Probability and statistics has to come into play at some point, and I can either have a higher probability to win or a low probability to lose, okay? So. And it's very, very, very simple.
And, and for a lot of, you know, you listeners out there, everyone's like, well, David, you know, what strategies do you use? How do you do that? It's not about that. It's about constant research, constant looking into things. You know, understanding where certain, certain sectors are, right? Who's selling, who's in. You know, I think there's a lot of money controlled right now by, by the big, big money, right? Because the big money controls a lot.
But where you kind of want to be an outsider. And for you listeners out there, if you're on, if you're in your own investment firms and, you know, you, you do your own investments and, you know, you're thinking to yourself, well, you know, there's. All the stocks are high right now. You're only looking at the top seven or top ten. I mean, I can tell you a handful of corporations that are very greatly valued right now. Now, where the market, where the s and P500 go down, when they go up, that definitely could happen, right? So I think everyone just thinks like, oh, market's going down, everything's going to tank. You know what I mean? It's like, well, people don't realize when the 08 crash happened, there was actually stocks in the S P 500 that were positive.
And. Listen to me again. Hear that again. When the market crashed in 08 crashed, there were stocks in the SB 500 that were positive that year.
If that doesn't tell you something, I don't know what does. Not every stock, not every corporation will fail, okay? So I, I think that having opportunities, knowing certain things, being able to value certain companies at certain rates, taking opportunities is the biggest thing, Jim. And, and, and for you guys out there and you listeners, you know, I love being in the market, but I also love helping clients plan what they need in the market too. Okay? Don't go risk your entire life on, you know, because David knows what he's doing. I, I wouldn't tell you to do that, okay? I'd advise you not to do that because obviously there's always a probability that things don't happen that way, okay?
And you have to be transparent with these things. You have to be honest about them. You have to be very transparent with your client about risk and about, you know, being conservative with a portion amount of money, understanding their goals and needs. And few listeners out there, you guys know your goals and needs better than I do. Stop letting someone else tell you what your goals and needs are. I, I don't think it's very hard to understand that your financial advisor doesn't live the life that you live.
They don't know what you do when you go home. They don't know what you spend your, you know, your amex, your Amex card or your Visa card. That when you're going shopping at nighttime or how much you spend on groceries or whether you go to Publix or Walmart. They don't know. So stop. Stop acting like they're the ones that need to know your, that can create your goals. It's got to be you. You know, now, us as financial advisors, we can help. We can help plan. We can take the stress off, and that's what I love doing. But get the education first. Understand what, what your goals are, and then we come in and kind of assess those goals.
Sadly, that's not done anymore. So that's obviously why I'm a little bit different and why, you know, why business is kind of rolling and why we're so successful here. But I think that the people matter first, right? The corporations matter last. You as the client, you as the person, you matter more than anything, right?
[00:38:44] Speaker C: Your money.
[00:38:45] Speaker D: It's your money. You've worked your butts off for it. Your entire life. That should be the first solid rock foundation is what you want with your money and what you want to do with it. And then the plan and the assessing the goals and the efficiency of taxes and everything else comes after that. But it's you first getting to know your goals and needs. So again, you know, give me a call. It's a free consultation. We sit down, we go over what you need, you know, even if it's just the first meeting of just getting to know you, the first 15, 30 minutes, you know, just talking about you and seeing what your goals and needs are. That number is 850-565-1705 again, that's 850-565-1705.
[00:39:28] Speaker C: Yeah. And interestingly, volatile markets can sometimes create tax planning opportunities as well, including Roth conversions as temporarily depressed account values or tax lost harvesting. Harvesting opportunities. So again, professional guidance is key here. So if there's anything that we've shared on this week's show that makes sense to you and you could use some help with a free no obligation retirement consultation, don't hesitate to give us a call. We do this show to bring important information to people like you and we love meeting our listeners. So visit Retirement PlanningPipeline.com again, that's Retirement PlanningPipeline.com or call 850-565-1705 for your personalized investment confidence checkup. Coming up next, we'll tie everything together with actionable retirement planning steps people can start considering today to potentially reduce taxes, protect income and improve long term confidence. Very important, the retirement planning pipeline that's on the way. Thanks for listening. We'll be right back.
[00:40:24] Speaker B: Your retirement questions deserve real answers. Call 850-565-1705 to schedule your free no obligation consultation today.
[00:40:39] Speaker C: Everything in it
[00:40:44] Speaker B: missed part of today's show. The Retirement Planning Pipeline is available wherever you get your podcasts
[email protected] welcome back
[00:40:54] Speaker C: inside the Retirement Planning Pipeline, the show that delivers expert insights, actionable advice and real world financial strategies to help you retire confidently and comfortably. Jim Tarbocki here alongside retirement planning specialist David Pipes. Thank you for making this show part of your weekend on whichever platform of your choosing. Final segment of today's show, building a tax efficient retirement blueprint putting the pieces together for long term confidence Today. We've covered taxes, retirement income, market volatility and strategies designed to help retirees keep more of what they've worked hard to build. So David, I think one of the biggest takeaways is today when we're talking about retirement planning, it's no longer just about investments, but it's also about important coordination. Doing that the proper way.
[00:41:39] Speaker D: Yes, it is. And one thing I'll tell all of you listeners out there and, and hear me over and over again, I will repeat this all the time to every client that I have.
Organization and planning is the most important thing in retirement. I can't. If there's one thing that I'd say that if you don't have, you have the more probability to fail in retirement. It's the planning. And why that matters the most is, is because it will save your retirement if something unexpected happens.
If you plan for the unexpected, right. That still has a probability to happen. Okay, you already plan for it, so you're already taken care of, right? That stress that we talk about all the time is taken off your shoulders.
Don't let that stress stay on your shoulders for your entire life when what retirement is supposed to be the stress free place for you. You've worked your entire life to not have the stress of retirement. Retirement's supposed to be traveling, going to see the grandkids, having a good time, playing pickleball, doing things that you love to do. Whether you're Planning for it 10 years in advance or you just hit it or you're in it, fix it. Okay? Get the plan right. Educate yourself. Understand where the plan needs to be for you. Going to my last segment, not for the corporation, not I have a plan that he made for me. No, there's. The plan needs to be made by both of us.
The plan is need be made by me only. That's why I tell you when we sit down the first 15, 30 minutes, it's about you. It's about your goals, your necessities, your needs, what you want to do in retirement. And then the plan we create together, the education part, has to be in. You can't sit there and say, hey, here's all my money and plan it. No one's going to ever plan it the right way because they're going to plan it the way that someone else had it planned. And that's not you right now, all of a sudden you're living someone else's retirement. This just doesn't work like that, right? So plan it towards you have that, have that personalized goal, right? Sit down. If you don't know your goals, figure it out with me. I love that part. It's kind of like, you know, creating friends, creating relationships, you know, getting people to walk out of here, walk out of my office, Saying, man, I now know, you know, what I want to kind of do in retirement. I'm able to do those things. I'm able to have my mind free to think about what I want to do instead of what I can't do. Hear me? Hear that again. What I want to do instead of what I can't do.
Right? That should be your goal, is to worry about what you want to do. Okay? I can't stress enough how important it is to have the education for yourself. Okay? Don't know everything. You're not going to know everything. Okay? And don't try to. I've had a lot of clients that come in here that, you know, have a lot of questions that want to know every single detail, and they kill themselves. I mean, you can see the sweat dripping down their face. It's. Don't do that to yourself. Okay? But know the basics. Know the foundation, what the. What your funds and what your plan is doing for you and how it's doing it. It's that simple. It's that simple. And once you find that out, I promise you, the rest of your retirement will be a breeze. It really will. And I know a lot of people are out there. You guys are all saying, well, I mean, my retirement's not too bad right now. Is that really how you want to live your retirement? It's not too bad. I mean, come on, I'm doing all right.
I'm okay. Like, no, you always want to be better. And if you don't want to be better, then I'm sorry. Right? I mean, to be transparent with you, I don't think anyone should. Should think like that. Right? I mean, if I could. If I could have a company A or. Or even a car, Car A or car B, they're both the same price. I'm gonna get, you know, the best one. Right? The one that's valued at a higher price.
Sadly, you know, I think everyone's kind of brainwashed nowadays, and for you out there, I. You want to live that best retirement, you know, I'm trying to tell you. You do. So listen to me, you know, live what you want to live. I know it's tough to understand that, but, you know, it's not going to.
Not everything adds up sometimes. Okay, so you might come in and, you know, we might have some complications, maybe some things we need to fix. That's com.
[00:45:48] Speaker C: That.
[00:45:48] Speaker D: That's life. That. That's just how it is, right? I mean, yes, things are probably going to be wrong. I'm going to look at. Take A look at your portfolio and there's going to be things that I want to fix. It's going to happen, right? But if you don't fix them, you don't plan, you don't change, your life isn't going to ever be better. Right? It's going to be the same way that you've lived it for your entire life. And you know, sadly, we're not here for that. We're here to be better. Right, and you're here to do better. You know, an advisor might have been great for the 30 years of growth. I've had clients that have had advisors for 30 plus years, but they didn't do the same thing that I did, right? They maybe had their accounts growing for that amount of time. They had inheritance, but they changed to me because my perspective on things and my plan was towards their goals and their, you know, their, their, their other advisor wasn't. Their other advisor was for what? For the future. Right now it's now, Right now, it's, hey, let's put these place in the, let's put these things into place and make an actual plan, specialize in that field. And that's, that's what I have a passion for. So again, any of you out there have any questions at all, whether it's, you know, what I do or, or how I do it or, you know, what strategies that I even would implement for anyone, maybe in your, you know, we can have a talk on the phone for all I care. You know, it's, I'm here to help anyone I can.
And you know, I'd love to see many of you guys come in. We've gotten a lot of calls in, I, I, I'd love to sit down with a lot of, you know, and, and help you and help everyone in the area and you know, even if you have friends that don't live here, I mean, we can still, you know, education is key. These things are a big, big problem right now in the United States. And this is why we're doing this show. This is why, you know, business is rolling, this is why we're successful is because, you know, being different is sometimes, well, really a lot of the times is a good thing. If you're different, you're doing something not everyone else is doing, right? So it's a different idea, but it works out better. So give me a call, we can sit down again. It's a free consultation. Okay, 850-565-1705. Again, that's 850-56517.05.
[00:47:56] Speaker C: And even if you're not in the Pensacola area, you can still use that phone number. Use the website retirement planningpipeline.com and schedule that free, no obligation consultation. You can do it to digitally over zoom. You can sit down with David and go over your retirement planning. You know, David, you mentioned something in there where you've heard retirees say before, I'm all right. I'm doing all right. I don't believe any retiree should ever tell their financial advisor or their retirement planning specialist, yeah, my retirement's going okay. I'm all right. I'm all right. What you're really saying is I'm being complacent. I was complacent, and I'm not where I want to be in my retirement.
[00:48:34] Speaker D: And that's what's happening, you know, and, and it's, it's sad. And that's why we're doing this show, to bring the light, to bring the passion, to bring anything that we can, whether we do business or not, right? To bring anything we can to help the people and to, to help you build your retirement. Even if, you know, like I said, you come in, we meet, and maybe it's not a right fit, you know, hopefully that doesn't happen. But, I mean, you never know. You can come in here and then all of a sudden, you know, we. Maybe you learn something and you walk away with something that, that you didn't know. And that's the important thing, you know, is it's just understand the plan, understand the goals, and just, just getting it right the first time, right?
And don't, don't hesitate, right? Don't say, don't think that it's too much. Don't think that it's. Maybe you don't, you know, know enough or you don't know what questions to ask. It's okay. It's okay if you don't know, right? If you have questions about 401ks, you have questions about IRAs, you have, you have questions about any type of taxable income at all or what to do in retirement or how to plan it or what income to take or how to take income, how to guarantee some income, how to strategize it, right? How to grow, how to maximize my portfolio, anything at all.
All these things matter in retirement, and I'm here to help anyone that needs help.
And it's a free consultation.
You just come in, we meet. I'm sure we'll hit it off on the first date, you know, so give me a call. It's 850-565-1705. Again, that's 850-565-1705.
[00:50:05] Speaker C: You know, people spend decades building wealth, but retirement confidence also. It comes with creating a strategy that's designed to preserve flexibility, reduce surprises, and help families keep more of what they've earned. Today's conversation raised questions about tax retirement income or protecting your financial future. Future now is the time to start planning proactively rather than reactively. Again, I'll say that one more time. Planning proactively rather than reactively. So whether you're five years from retirement or already retired, having a coordinated retirement strategy, Mel, may help create greater clarity and confidence. So as we like to always say, we love hearing from our listeners. And again, if you have any questions, visit retirement planningpipeline.com that's retirement plan planningpipeline.com let's chat. Also, give David a call 850-565-1705 for that free no obligation consultation. All right, if you missed any part of today's show, don't forget to subscribe to the program in podcast form on Apple, Spotify or wherever you get your podcast. We, as always, thank our listeners on the radio side for tuning in this weekend. Be sure to subscribe to the show on YouTube as well. Search Retirement Planning Pipeline on YouTube for clips and special content. Thanks for listening. This is the Retirement Planning Pipeline. Have a great week, everybody, and we'll talk to you next weekend.
[00:51:22] Speaker B: Thanks for listening to this week's episode of the Retirement Planning Pipeline, the show that helps you take control of your financial Future. Whether you're 5 to 10 years from retirement or just getting started, Retirement Planning specialist David Pipes has the strategies, tools and experience to help you make the most of your nest egg. Take control of your financial future and get started today by visiting retirementplanningpipeline.com and if you missed any part of today's show or want to catch up on past episodes, be sure to subscribe to the Retirement Planning Pipeline wherever you get your podcast.
Not affiliated with the United States Government, Amerilife agents do not offer tax, legal or investment advice. Consult with your tax advisor or attorney regarding specific situations. Opinions expressed are subject to change without notice. These opinions are not intended as investment advice, nor do they predict future performance of any product. All information provided is believed to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. This information is intended to be educational in nature and does not provide a guarantee or specific result. Result all copyrights and trademarks are the property of the respective owners. Amerilife assumes no responsibility or liability for the content of this message. The information contained herein is provided on an as is basis with no guarantees of completeness, accuracy, usefulness, timeliness, or the results obtained from the use of this information. Charles David Pipes and Steven Zarek are individually licensed and appointed agents. Learn more at retirementplanningpipeline.com Information provided is
[00:52:54] Speaker A: not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. I'm speaking with Ryan Burgos. He is the Employment Director, National Employment Director at dav, also a US Air Force and Army veteran. Ryan, thank you first of all for your service, sir. And thank you for taking some time out to join me today. Really appreciate it.
[00:53:16] Speaker E: Of course, thank you for having me.
[00:53:18] Speaker A: Yeah, no problem at all. This is something that really is dear to my heart that we're talking about today and that is Hire a Veteran Day, which is this week. It takes place every year, of course, but this is the 10th year of this particular program and it's really important, I think for us to highlight this not only because of the particular day but also the importance of hiring veterans all year round.
So for those not familiar, talk a little bit about the program and Hire a Veteran Day for us.
[00:53:53] Speaker E: So our national employment program began 10 years ago. Like you said, it's been a decade now and since our inception we've had over it thousand job fairs all across this country to include virtual hiring events which are outstanding because the exact same as in person except they're there virtually employer can see them. You can see the employer. They're still doing on the spot interviews on the spot hiring in some cases.
But the our employment program does our best to meet veterans and employers alike right where they are and try to assist them in everything that they need when it comes to finding meaningful employment opportunities.
[00:54:29] Speaker A: And I imagine that, you know, during the pandemic years, especially the early pandemic years, you guys probably had to make some some changes and adjustments and have any of those changes kind of stuck around to the way that this whole operation works.
[00:54:45] Speaker E: I think the biggest change that's kind of happened employers realize that the value that veterans and spouses bring to the table, those leadership skills, those time management skills and just the simple fact that veterans are mission driven individual individuals who want to play their role within your organization so that way they can continue to be providers for their family and so that they can help make your corporation great.
[00:55:12] Speaker A: Yeah, it really is true. I mean, there are a lot of unique sort of characteristics that veterans and family members bring into everyday situations and particularly the workplace. What would you tell veterans who might be listening and possibly unsure about how their military experience can translate, you know, from perhaps the battlefield or, you know, somewhere overseas at a military installation or here at home at a military installation, but to the civilian workforce?
[00:55:42] Speaker E: So visit jobs.dav.org, let our team help you with that. Let's take some of the issues out of it. So it's not as difficult.
We're fluent in all this kind of stuff. Our team is standing ready to assist veterans with that task of translating their skills. Because, I mean, myself, for example, when I was on active duty, I was an ammunition specialist. So essentially I counted bullets for a living. And now here I am 13 years later with Dav and I'm on the other side of the coin and I'm able to assist veterans with that translation.
And you can take pride in the fact that it's veterans helping veterans. We've all been there, we've been on the other side where we're trying to find those employment opportunities. Except DAV now has simplified it. We've got a job board on our website with over 240,000 nationwide vacancies. These employers know what you bring to the table and they want that brought to their organization. They know that, that you're, you're mission driven and you're going to make their organization great. So check out the
[email protected] and let us help you.
[00:56:46] Speaker A: Perfect. And so jobs.dav.org that's the place to go for more information for veterans and spouses potentially who may be looking for opportunities. Also, talk about the DAV Patriot Employer program, if you will. So kind of the other side of that coin and how DAV helps employers who are looking to hire veterans.
[00:57:08] Speaker E: Sure. You know, sometimes an employer, I think their heart is all in the right place.
Sometimes they just don't know how to do it. Dav, we're veterans ourselves. We know, we know what to do. So on our website, we've got a guide to hiring and retaining veterans with disabilities.
But we also have our patron employer program. We want to recognize companies that go above and beyond when it comes to hiring veterans, Retail, retaining those veterans, and also their level of community support.
DAV can assist with their employee resource groups. We will educate them on the different work opportunity tax credits that's out there.
We're here to assist. And with this patron employer program, you get a free digital badge to place on your website. Maybe the veteran doesn't know who your company is, but they know who DAV is and when they see that badge, they know that it's a company that they can go to to find meaningful employment opportunities for a career that they can go with and stay with for a long period of time.
[00:58:04] Speaker A: Very good. Well Ryan, anything else that you wanted to touch on that we haven't talked about that comes to mind? Or maybe, you know, just reiterate again, the resources that are out there for veterans who might be listening.
[00:58:16] Speaker E: So for veterans, spouses and employers alike, just visit jobs.dav.org you know you've got nothing to lose, everything to gain. All you can do is locate all the plethora of resources we have on our website and let us help you. Let us meet you where you are, whether you're a veteran, spouse or employer.
[00:58:33] Speaker A: Perfect helping those who have helped and fought for us. Thank you so much once again Ryan Burgos, who is A service disabled U.S. air Force and U.S. army veteran of the Iraq War and also now with dav. Ryan, thank you so much again for your service, but for also taking some time out to join me today. Really do appreciate it.
[00:58:53] Speaker E: Thank you very much for having me. It's been a pleasure.
[00:58:56] Speaker C: Investment Advisory Services Offered through Brookstone Capital Management, llc, a registered investment advisor. BCM and Amerilife are separate companies but are affiliated through common Ownership Insurance. Products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Registered Investment Advisors and Investment Advisor representatives act as fiduciaries for all of our Investment management clients. We have an obligation to act in the best interest of our clients and to make full disclosure of any conflicts of interest. Please refer to our firm brochure the ADV2A, item 4 for additional information. Any comments regarding safe and secure products and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company and are not offered by Brookstone. Indexed or fixed annuities are not designed for short term investments and may be subject to caps, restrictions, fees and surrender charges as described in the annuity contract.
