Changing of the Seasons Is How We’re Going to Theme It, Making Sure That You Don’t Get Left Out in the Cold. Don’t Miss Our Special Seasonal Tips That You Need to Know for Maximum Financial Success, From the Sunny Start of Spring to the Freezing Chill of Winter.
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Investment advisory services are offered through Foundation Investment Advisors, LLC, an SEC registered investment advisor. Brian Quaranta and his guests provide general information, not individually targeted, personalized advice, and are not liable for the usage of information discussed exposure to ideas and financial vehicles should not be considered investment advice or recommendation to buy or sell any of these financial vehicles. This information should also not be considered tax or legal advice, past performance is not a guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. Any comments regarding safe and secure investments 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.
Steve 00:39
Hey, welcome in, everybody. This is On the Money with Secure Money. I’m Steve, Brian Quaranta is here, and we have got a big show planned today. Changing of the seasons is how we’re going to theme it, making sure that you don’t get left out in the cold. Don’t miss our special seasonal tips that you need to know for maximum financial success, from the sunny start of spring to the freezing chill of winter, and we’re not going to talk about Pumpkin Spice Latte. Hey, Brian, how are you?
Brian Quaranta 01:04
No, we are going to talk about Pumpkin Spice Latte. So that glorious time of year, go to Starbucks, get the pumpkin spice, but more importantly, we’ve got a lot to talk about, and I look forward to this show, Steve, it’s going to be a good one. So, tune in, grab your pumpkin spice latte, and we’ll be right back with on the money with secure money.
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And now On the Money.
Brian Quaranta 01:35
Any good retirement plan starts with the foundation,
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Asset protection, tax reduction, holistic planning.
Brian Quaranta 01:42
These are the things that start to move you towards having a retirement plan.
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You think that’s the difficult part? That’s just getting started!
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And now on the money with secure money.
Steve 02:00
Welcome in, everybody. This is on the money with secure money. My name’s Steve, Brian Quaranta’s here. Brian, of course, is, well, he’s president, CEO of secure money, advisors. But advisor, but importantly, more importantly, he is the author of a book that is taking the world by storm. Right Track your retirement. And Brian is here to talk about that, among other things. Brian, always a pleasure. How are you? always
Brian Quaranta 02:19
Always a pleasure, Steve, yeah, right track your retirement did kind of take off, right? I mean, it was unbelievable. I feel really proud of that. So, if you haven’t gotten a copy yet, go to righttrackyourretirement.com. If you want to learn all the tips and tricks to a good retirement, that’s stress free. Free. Stress. Free.
Steve 02:40
Easy for you to say.
Brian Quaranta 02:41
Stress. Free. So, changing the seasons.
Steve 02:44
This is great. I love the fall. Don’t you? Football, all of that?
Brian Quaranta 02:46
Absolutely love it. Absolutely love it. Yes. So how about those Vikings? How about those Vikings?
Steve 02:54
But we can’t start in the fall, right? We can’t, we can’t, even though that’s we’re in fall, but we’re going to do this seasonally. So, we’ve got these tips for you. Let’s start where we have to start, and that’s in the spring, where we plant the seeds of savings.
Brian Quaranta 03:08
That’s right, we got savings so, but let’s talk about it. So, planting seeds, Steve, right. I mean, this is all about making sure that you begin saving early. I mean, I mean, that’s the- that’s the best advice. If anybody goes, how should I start investing? It- just begin somewhere. I mean, begin with your emergency cash reserve, right? That should be three to six months’ worth of monthly income that should be put away in some type of savings account or bank CD that you can access if it goes into a bank CD. You want to keep it short term, so that if something comes up, you can, you can get the money. You know, ever since COVID, though, Steve, I don’t know about you, but I actually increased my savings from six months to about nine months. And I say now, after going through COVID, it’s a good idea to think more on six to 12 months’ worth of savings. And I know that’s tough for some people, but if you can do it, that level of discipline will pay off, God forbid anything ever happen. And speaking of discipline, you know, the key to a great retirement is really developing good financial habits, like budgeting, which is a word I absolutely hate, but, so let’s consider it like this. Let’s have a spending plan, right? All right, fair enough, a spending lifestyle Expense Report. Yeah, you know, it’s not a budget, but it’s a spending plan, right? Because the first person you should spend money on is you when that paycheck comes in. The first person you should spend money on is you. And when I say you should spend money on you, I don’t mean going shopping and buying new clothes or shoes or whatever it is, but spending money on yourself means put that money into an emergency gas reserve, into your IRAs. Your 401(K), whatever investment you can do, and just start doing that. You know, I’ll give you a perfect example. Every Wednesday, $100 gets transferred from my bank account to Coinbase to buy cryptocurrency. Now, I’m not telling you to do buy cryptocurrency by any means. I mean, that’s a very small portion of my portfolio, but the point is, I don’t think about it every Wednesday. It just happens, right? And, you know, before you know it, you look at your account and you go, Whoa, I’ve got quite a bit saved here. Oh, and by the way, I’ve earned quite a bit of interest too, exactly. But yeah, these are all things. Again, we’re talking about the weather changing and the change in the seasons, and it’s a good time to, you know, basically turn the page and begin a new chapter right now. What happens if you have kids? I mean, you certainly want to, you know, you know, start thinking about how you’re going to take care of them. God forbid anything ever happened to you. You want to make sure your family is going to be taken care of. So, one of the other things, especially, if you’re young, you know, you really want to consider emergency cash reserves first, and then you want to consider some type of life insurance (indistinct) term most likely, because it’s going to be the cheapest. We don’t want to spend a ton of money on life insurance, but we got to get something in case something happens to you, so your family’s taken care of. And I would also- speaking of investing, you know, invest in your education. Consider investing in Further Education or skills training to increase your earnings potential. So, lots of YouTube videos out there that you can go to and learn about investing and how it all works. It’s a great thing about the world we live in, Steve, right? I mean-
Steve 06:41
I want to say one word of caution, but going into social media, watch out. Yeah, take all of your financial advice from Tiktok.
Brian Quaranta 06:46
Great point, Steve, you know, YouTube was a little more legitimate.
Steve 06:50
As far as I’m concerned. Tiktok, well, that’s a bunch of wackos, if you ask me,
Brian Quaranta 06:54
Oh man, I tell you. I mean, some of these things that pop up, I mean, they’re leaving out so much, you know, it’s like, what was his name? The rest of the story. Was it, Steve? Harvey? Paul Harvey. Paul Harvey, thank you. Steve Harvey is the other guy, right? Paul Harvey, the rest of the story, that’s how I feel about Tiktok. You know, you listen to you go, well, what’s the rest of the story here?
Steve 07:15
Exactly what’s going on. So, all right, so we’ve got through the spring planting of savings, and now we’ve watched them grow mature a little bit. So, we’re into summer. What do we do in the summer when it comes to planning for retirement?
Brian Quaranta 07:26
So yes, when it comes to summer, what do we want to do out well, nurturing growth and maximizing contributions. You know, I mean retirement planning strategies you might want to consider if you’re young, you know, aggressive growth to maximize your investment return, but summers warmth accelerates growth in nature. So similarly, maximizing contributions and investing wisely accelerates the growth of your retirement nesting, right? So short time you can dollar cost average, right? So during your peak earning years, you definitely want to aim to contribute as much as possible to your retirement accounts. And I’ve seen this hundreds of times, Steve at my office, where people will come in and, you know, they’re finally, they finally have, you know, the mortgage paid off. The kids are, you know, all out of school, and now they’ve got maybe 10 more years before retirement, and they’ve got the cash flow to be able to just maximize every contribution, possibly to their four one case, their IRAs, their Roth IRAs. So those are the things you want to do, by the way, if you want to learn more about this, go to righttrackyourretirement.com. Get a copy my book. It’s absolutely free. It’s a simple guide to help you build income structure, a plan, and most importantly, give you peace of mind. Retirement. What I love about right track your retirement is you get to learn about all the retirement planning strategies to develop an income plan protect your money all in the privacy your own home. So, this way you can read it and decide, does it make sense to go in and see us at secure money advisors, and if you decide to come in and see us, I’ll let Steve tell you how that we can do that.
Steve 09:01
You got it, Brian, 800-656-8616, 800-656-8616 that’s the number to call to get yourself a spot on the calendar. You’re going to get a comprehensive financial review. There’s no cost, there’s no obligation. More importantly, you’re going to walk out with that road map that we talk about, that guide that can put you on the right track to your retirement. 800-656-8616, 800-656-8616 quick break for us. We’ve got lots more to talk about here on the money with secure money and Brian Quaranta right after this.
Brian Quaranta 09:30
When we come back, we’re gonna talk about fall and winter, and that’s right, we’re talking about the changing of seasons, but we’re talking about the changes of seasons when it comes to investing. And we’ve got lots to talk about. We come back like rebalancing your retirement plan, Income Management, Legacy planning, how to leave lots of money to your kids, but also how to build a lot of monthly cash flow for yourself when we come right back with on the money, with secure money you.
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Steve 11:20
We are back on the money with secure money, Brian Quaranta here, I’m Steve, we are talking about the seasons of retirement, and we’re talking about from a savings standpoint. In other words, we planted the seeds in the spring because we want to. We want to plant the seeds, and we want to reap from the harvest, not the- you know, we want to, you know, we want, we want payoff on that.
Brian Quaranta 11:39
Yeah. I mean, some of the things we want to do here, Steve, is we want to consider reviewing and adjusting our portfolio. So as retirement approaches, you got to reassess your investment portfolio to reduce risk. And even if you’re not retirement, let’s just say you have an investment account that you’re investing in. You always want to look at what accounts have, what stocks have done. Well, what ETFs, whatever you’re buying. I mean, look at what Warren Buffett did, right? I mean, he had a huge position in Apple, and he sold 50% of that position, right? Because he just felt that it was time to do that. So, when you’re looking at your investments, consider that if you have a specific stock or ETF or mutual fund that has gained a lot of a lot of money, and it’s out of balance from a percentage standpoint with the rest of the portfolio. You may want to look at capturing some of those gains. Listen, I’ve got story after story of people that I’ve watched it literally have 10x their money in stocks, okay? And they continue to think that it was going to go up and up and up. And I always recommended that they would sell, and they never did. And I’ve watched multiple people lose tons of money because greed got in the way, and they didn’t take advantage of capturing gains and reducing those position sizes. So, speaking of position sizes, you know you want to harvest investment gains, right? So, yeah, any investment, consider locking those in. You can go to cash for a little bit, and then dollar cost average back into the markets. Very simple do, if you don’t know how to do that, and you’re not really sure how to go in and rebalance your portfolio. And you know, if you are rebalancing, what to buy. And as you get closer to retirement, you know, harvesting gains, you may not want to be re investing back into, you know, accounts that are high risk, you know that are growth oriented, you may want to consider looking at things that are going to generate income, maybe some dividend paying stocks. You can look at annuities. You can look at, you know, even money market funds, if they’re paying reasonable rates, right? If you can get 5% on a money market fund, and you got a million bucks in there, that’s 50 grand a year, you can generate cash flow just from that. So, that’s the great thing about interest rates going up, Steve, is that, you know, you can buy a CD at 5% you know, you put a million bucks in there, you got 50 grand a year. You could take it out every year. The only difference is, with a CD, keep in mind, you know, you can’t take any money out until the maturity date. That’s why I personally like the fixed annuity, Steve, because I can get five to 6% in a fixed annuity, and rather than having to wait till maturity to access my money, I can pull money out on a monthly basis because the annuity companies allow you to access 10% of your account value during the maturity period, you know. So, think about a CD. If you buy a CD, you’re locked in there, you buy an annuity during that period of time, you could take out 10% so if I’ve got a million bucks in there, I can get 100 grand a year, no questions asked. So, it’s much more flexible when it comes to that. And then, speaking of flexibility, you got estate planning that you got to think about, right? The key part of it, isn’t it? It’s a key part of it. Steve, you know, how many people I meet that don’t have, you know, just a basic will?
Steve 14:55
I would think the majority, and I think that’s a sad fact.
Brian Quaranta 14:59
Yeah, I. I bet you, if we saw 10 people, I would say that 7 of them don’t have a will, or hasn’t, or it hasn’t been updated since, you know, they got married or had kids or, you know, or when they reached a point that they needed a will if they were single. So don’t overlook the estate planning part here, folks. And money part is important. It’s absolutely important, but God forbid anything ever happens to you. And you know, things happen suddenly, you know, I mean, we had a situation the other night, my wife woke up and she fainted, and she hit her head, and she had to have a couple stitches. And so, you know, I got another friend that he runs a financial firm, just like I do, and one of his advisors woke up in the middle of the night, wanted to go downstairs to get a glass of water, fainted while he was walking down the steps, and was in a coma for three months. Oh my gosh, yeah, you just don’t know, freak things happen. So don’t kick the can down the road. On estate planning, don’t kick the can down the road. On retirement planning. You know, this is why I wrote right track your retirement, because I want you to have a blueprint, a road map, to get you to retirement. And I’m telling you, if you read right track your retirement, you are going to see a simple approach to building a retirement plan that will give you the cash flow that you need on a monthly basis, which I call mailbox money. We all want money coming on in our mailbox every single month, although it just gets direct deposited these days through, you know, you know, through the banks. But what I’m trying to tell you here is get a copy of the book. It’s absolutely free. It’s a hard cover book that I send to you. I pay for the shipping and handling. I pay for the printing of the book. All you have to do is get up and go to righttrackyourretirement.com and get a copy right now.
Steve 16:54
That sounds fantastic, giving you the opportunity to review your individual circumstances, again, like Brian says, no cost, no obligation. Find out things like how much risk you’re taking, red flags that could pop up for you. What about fees and commissions? Do you really know what you’re paying? And tax liabilities always a part of the conversation. And a lifetime retirement income plan that includes maximizing your Social Security benefit? If you want to take advantage of this complimentary review, simply call us right now. 800-656-8660, 800-656-8616, that’s 800-656-8616 we are going to take a quick break. We’ve got lots more to talk about right here on the money with secure money and Brian Quaranta right after this.
Brian Quaranta 17:33
Coming up, a love letter with some very important advice to a generation that is critically behind in their retirement planning, we have seven strategies that can help make a secure retirement for Gen Xers Next, when we come right back with on the money, with secure money.
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Do you ever feel like you are fighting for financial knowledge. Don’t let bad advice be a punch in the gut to your retirement. Take advantage of a complimentary no cost, no obligation consultation with a local trusted financial coach. Call Brian Quaranta at 800-656-8616 or text Brian Q to 800-656-8616 that’s 800-656-8616 or text, Brian Q to 800-656-8616
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And now on the money with secure money.
Steve 18:38
And we are back on the money with secure money. Brian Quaranta here. I’m Steve, Brian, of course, President and CEO of secure money advisors. Securemoneyadvisors.com is the website securemoneyadvisors.com and then, of course, righttrackyourretirement.com, that’s really the one that can get you started on the right track, on your retirement, right, Brian?
Brian Quaranta 18:58
That’s right, Steve, it’s always about being on the right track. It’s the biggest thing that they love helping people do, and we’re doing it every single day. And the question is, do you know if you’re on the right track? Do you know if you’re making the right moves with your retirement planning strategy? You know, that’s the biggest question we get. Steve, that’s why we named the book right track your retirement. Because people will come in and say, Am I doing the right things? Do I have the right investments? Am I on the right track? They literally say that. And my question to you is, if you weren’t on the right track, folks, when would you want to know? And I think any of you, if you’re taking time to actually answer that question, hopefully you’re coming up with now I want to know now. How was the time to know now is the time to understand whether or not you’re on the right track. And I’m telling you, there’s a lot that goes into this retirement planning stuff, and it’s- folks, I want to stress this. It is different. Investing for retirement is different than investing for growth. So, when I was working at the big box firms, starting in 1999 Uh, we were taught to help people grow their money by in buying, you know, growth types of investments. And so, when we were doing that, one thing that people had was time. And so, if we were buying aggressive investments, and they were very volatile, it was, it wasn’t a problem because we had 25 years in front to continue to absorb that volatility. But as you get closer to retirement, about five years out and into retirement, you cannot take that level of risk, and so you have to switch from what we call the growth phase, also known as the accumulation phase, to the distribution phase. This is the distribution phase. Is where we start to generate income. Now you got 85% of people out there today that do not receive a pension. It is a crisis in America. Steve, so there’s only 15% of people out there that are actually receiving a pension. When I talk about these strategies, I’m not talking to the people that have pensions. Okay, I’m talking to the people without pensions, because you folks that don’t have a pension, you are the ones that are in a major, major crisis, because you’re on your own. Folks, you have to figure out when you retire, how to take the money that you accumulated and now turn that into an income stream that’s going to last the rest of your life. Think about the monumental task in front of you, right? I mean, Steve, can you imagine? I mean, you’re working, you know, 20, 30, years, 40 years, and we’re seeing longevity be a huge problem now in retirement, right? I mean, what? What are some of the numbers you’ve seen as far as how long retirement lasts these days?
Steve 21:43
Well, I mean, I think the average, or the number that keeps coming up, is it 20 to 25. Yeah. But I think in reality, I’m seeing people that are in the 30, 35, even 40 years, depending on how healthy they are.
Brian Quaranta 21:55
Yeah. So, so folks, think about what he just said, you could spend more time in retirement than you did working, and if you don’t have a pension, how are you going to solve that problem? This is what I want you to understand. This is a huge problem for you folks. You don’t realize this, and, and if you’re working with an investment advisor that’s been helping you for the last 25 years, you know they’re going to say, they’re going to say, look, we’re going to keep your portfolio diversified. In, you know, different stocks, bonds, mutual funds, however they have it. And when you need money, we’re going to take it out on a monthly basis, and everything’s going to be fine right now. These are also when I was working at the big box firm, Steve. You want to know one of the things that we were told to tell people when it came to investing money in the stock market. What’s that? We told them that we don’t have a crystal ball, and we can’t predict the future, and so all we know is, if we pick good investments, we know they’re gonna go up and down, but I have no idea what’s gonna happen, because I don’t have a crystal ball. Okay, now here’s what bothers me about the industry itself, the big box firms, the same people that help people grow their money when they get to retirement. If you, if you think about the medical field, if you have a problem, you know, you’ve got a knee that needs to be replaced, or you need back surgery of some kind, your doctor is going to refer you to a specialist, right? I hope, yeah, they don’t say, oh, oh, Brian, you need a knee replacement? I can do that. Oh, Brian, you need back surgery? Oh, I can do that. Oh, Brian, you need heart surgery? I can do that. No, they refer to a specialist. In the financial industry. This does not happen. Okay? The financial industry does not refer up to specialists. They just say they can do everything. And what I’m telling you folks, and I mean this, we specialize in the distribution phase. That’s it. So, if somebody came to me and said, Hey, I need strategies, you know, to grow my money, I’m going to say, look what. Just work with the advisor you have right now and come to me when you know you’re at the point where you’re going to need distribution. Because folks, there’s like 25 things I can think of off to the top of my head that you need to be aware of when it comes to distribution. So anyway, let’s get back to this love letter, Steve. We’re about to write a love letter to our listeners out there who are Gen X. I know, I know we talk a lot about baby boomers, and I was just talking about baby boys, and we love them too. But I do want to give a little bit advice to Gen X-
Steve 24:17
‘Cause they’re not, I mean, they’re the ones coming up there. I mean, that’s happening now?
Brian Quaranta 24:21
Yes, yes, it’s happening now. So, you know, and this demographic, again, has unique challenges, and they got to prepare for retirement. So, here’s the deal. Our Gen X audience is generally behind in savings because of the recessions and also their support of their parents and their children. We’re going to talk about how they are catching up and how you can also catch up. So, let’s pay attention. Steve, how many do you think we can get through?
Steve 24:47
Um, you know, let’s go for three.
Brian 24:47
Okay, at three, it is, what’s the first one we want to tell about?
Steve 24:53
We want to, I mean, this for Gen Xers, maximize the contributions if you’re over 50, take advantage of it, even if it’s a few bucks. That few bucks. Can come back in tenfold, yeah?
Brian Quaranta 25:01
Because after 50, they get to put more money in, right, right? Yeah. If folks you know, just keep that in mind. Once you turn 50, it’s a special day, because the IRS lets you put more money in your IRAs and your 401 k, so second one is reducing debt. How many people do you see with a lot of debt, Steve?
Steve 25:19
Oh, hands going up, everybody’s hands.
Brian Quaranta 25:23
It’s a problem. It’s a bit it’s a really big problem. And you know, folks, I can tell you this much, I get a lot of heat when I talk about this. But if you’re contributing to IRA accounts, and you’re contributing to your 401 K, and you have a company that is not even matching you on your 401 K, and you have a lot of high interest rate debt, I’m going to tell you right now, it’s going to benefit you more to redirect those contributions that you’re making to those investment accounts and turn those contributions over to the debt and start paying the debt down. Because that debt, understand, let’s say you’ve got $1,000 in debt payments a month. If we can eliminate that, that’s $1,000 in guaranteed cash flow that you pick up. Seek professional advice. Seek professional advice from someone that specializes in the distribution phase that can help you build an income strategy, especially if you’re like most people like myself, like Steve, we don’t have pensions. You gotta create pensions yourself. And I’m telling you, folks, if there’s one thing we’re really good at, secure money advisors. It’s helping you build a strategy for monthly income that you will not outlive. And that gives you peace of mind,
Steve 26:33
800-656-8616, 800-656-8616 quick break. One more segment to go here on the money with secure money and Brian Quaranta.
Brian Quaranta 26:37
Coming up Hotel California by the Eagles. You can check out anytime you’d like, but you can never leave. Could that line describe a financial trap in retirement? We’re going to help you avoid getting stuck in costly retirement decisions. Next, we come right back with on the money, with secure money.
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Steve 27:49
We are back on the money with secure money. And Brian Quaranta, of course, I’m Steve, this is something that. This is a fun one. We’re talking about Hotel California. Check out anytime you want. You can never leave. I mean, that’s, that’s such an iconic piece of music, and I think we all know it, and I’m not going to play it, because we don’t have the license to do that. So, yeah, well, think about it. But we all know that. We all know the song.
Brian Quaranta 28:10
We all know the song. That’s right, we all know the song. And, you know, I always think about this, Steve, you know, when you go see these great bands, any band that you go see, if, whether you see the Rolling Stones, you see the Eagles. All these songs. Think about it. We want these, these musicians, to play the favorite songs, right? Like Hotel California. If we go see the Eagles, we’re hoping they play Hotel California. I always think about this. Steve, how many times have they played Hotel California, the Eagles, right?
Steve 28:43
Just billion and six, eh?
Brian Quaranta 28:45
Yeah. I mean, don’t you think they get to a point where they’re like, oh, man, we got to play Hotel California again and
Steve 28:51
But again, when I think that, I think from a musician standpoint, in the writing standpoint, I mean, there’s, if there’s a certain amount of satisfaction in doing that every night, I think it’s like, it’s like doing a play. You’re sort of into that moment.
Brian Quaranta 29:03
That’s right. And if you think about retirement planning, it’s like a play you got to be in that moment. You got to be like the musician that’s willing to play that song over and over and over again, because that’s how you build wealth, right? It’s doing the little things over and over and over. It’s playing that song over and over and over again when you don’t want to write, because that’s what drives you to having a great retirement, putting that money away when you know maybe you could use that money for something else that you want so badly, right? But pay yourself first no matter what. So, we’re talking about music right now. Steve, So specifically, Hotel California, again by the Eagles. Great song. We all know what it’s about. Oh, there it is. I love it indulgence. It’s the allure of seem perfect lifestyle to turns into a trap. Now for retirees, the trap could be failing to plan for healthcare cost or getting locked into high fee financial products. So, we’re going to talk about how we can escape. Boom. So, all right, so here we go. This means we have big questions to answer. Okay, let’s do it. All right. So, we’re going to have some follow up questions here. So, what are some common retirement traps that retirees should be cautious of, just like the illusion of comfort in Hotel California, Steve, I’m gonna let you answer this one
Steve 30:33
Well, again. I think it’s I think it’s interesting when you talk about retirement traps, like a variable annuity that might be a retirement trap, correct?
Brian Quaranta 30:43
There you go. Yeah, high fees, high fees, right? High fear. Those annuities, your trap could be taking your Social Security too early, because once you turn it on, you can’t turn it off, right? Although there is a small period that you could turn it off, but most people, I’m not going to get into that right now. But if you take it too early, can’t take it same thing with your pension, right? Because your pension, you know, I have people that have pensions from past employers. So, when they retire with their current employer, they might have a nice size 401, K, but with the old employer, they have a pension, and they could just let that pension incubate and continue to grow, and every year that they allow that there’s more and more income that it can provide. And this is why it’s so important that you work with a professional, because these are the things that they can help you unwind and again, folks, you want to work with a specialist. Keep in mind, you know, some advisors focus on helping you grow your money. There’s very few out there that specialize in the distribution phase. And there’s lots of things to think about. Like, you know, your break-even points with Social Security. If you’re a spouse, how can you use some spousal benefits and Social Security to maximize it later on? How can you use the money that you’ve accumulated in IRAs and retirement accounts or HSAs to maximize your entire income cash flow on a monthly basis in retirement? So how can retirees protect themselves from unexpected health care costs? I’ll tell you, Steve, see a lot of people out there. It’s a big deal. There’s a lot of people out there that have no strategy in place if a health care event happened. And typically, Steve, they happen suddenly. Those are the ones that really get you so creating a health care fund, or purchasing supplemental insurance can help retirees avoid the financial strain caused by unexpected medical bills. Look, there are, there are companies out there right now, insurance companies out there right now. Steve, that if, let’s say, you wanted to protect yourself from a health event, there are insurance companies out there right now. That if you put $100,000 into an account and you had a health event, they’ll 3x that money. They’ll give you 300,000 but that $100,000 that you have in the account is just growing at a rate of return. And if you don’t use it for health care, you can take it out and use it however you want it. So, it’s not a use it or lose it situation like we typically see with long term care insurance or, you know, any type of car insurance, homeowners’ insurance, or lose a deal not on that one. So again, working with a professional, these are the things that they can help you uncover. So go to righttrackyourretirement.com get a copy of my book. It’s a simple planning guide to help you build a retirement, build income, and give you a simple road map to follow again, righttrackyourretirement.com. Get a copy, and when you’re there, schedule an appointment to come in and see the team. We’re there to help you solve problems. We’re not there to sell you anything. If we can’t help you, will be very upfront with you, will shake hands, part as friends, and keep tell you to keep doing what you’re doing.
Steve 33:56
Absolutely. You know, it’s advice like this that really shows you how important it is to meet with a financial coach like Brian, who’s somebody who actually understands the ins and outs of the financial world. Do take advantage of this opportunity. Make sure that you are on the right track. We’ve been talking about it. That’s the book right track, your retirement. And again, that track is based on your preferences, your budget, your goals, and it’s available to you right now, no cost, no obligation. 800-656-8616, 800-656-8616 Brian, as always, a pleasure. These shows are so much fun. And again, great information goes by quickly.
Brian Quaranta 34:30
It does, Steve, and we’ll see again next week. Folks, have a great week, and that’s it for this episode of On the money with secure money. Have a great week. Bye, bye.
Announcer 34:44
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Outro 35:27
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