Brian Quaranta discusses the main reasons why people run out of money in retirement and financial strategies on how to get them back on the right track.
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And now, Retirement Your Radio
Asset protection, tax reduction, holistic planning
featuring Pittsburgh’s wealth, financial, and income coach Brian Quaranta.
Coming up on Retirement You Radio increasing your financial IQ with BrianQ. Well, Brian Quaranta is here. And we are going to be talking about an abundance of things today all things related to retirement and getting there Getting There Safely. Getting there with money, and not running out of money is kind of one of the things that we want to avoid. Obviously, if you’d like to get a head start, folks, it’s 800-656-8616 800-656-8616. Brian is here. Give me a preview. Brian, what do you think?
Brian Quaranta 01:06
Well, you know, Steve, to your point. I mean, most retirees agree that running out of money is one of the biggest fears they face. On today’s show, we’ll highlight some key signs that you may run out of money and offer potential solutions to avoid the road.
I like the sound of that, let’s get started. Welcome, everybody, this is Retirement You Radio increasing your financial IQ with BrianQ. I’m consumer advocate, Steve. So, Brian is here. Brian is President and CEO of Secure Money Advisors and does so much more than that; a fiduciary, again, an independent, got over 20 years doing this for folks all over; and really, this running out of money, we talk about this all the time, Brian, by the way, hi, how are you?
Brian Quaranta 01:58
I’m doing good. Yeah, this running out of money thing. It’s a big deal. And unfortunately, it happens. You know, I meet these people, you know, that are a few years away from running out of money. As a matter of fact, it’s such a big deal that AARP did a study. And they had asked about 1000 people, they said what do you fear most if you’re running out of money, or death? What do you fear the most? And, you know, out of the 1000 people that they interviewed, over 90% of them said that they fear running out of money more than they fear death alone. And I know that I would be in that category. I don’t know about you, would you fear?
Oh my gosh, yeah, yeah. Well, you’ve painted a picture in the past Brian, and it sticks with me. And it’s, you know, yes, running out of money. That’s, you know, you don’t want to do that. And it’s not so much that you know, you’re going to but the day you do, yeah, to two horrible days.
Brian Quaranta 02:56
Right. Right. Right. And, you know, it’s the worst time period is not the actual day that you run out of the money. It’s, it’s the years leading up to it. And you know that there’s nothing you can do to stop it, because you need the money to live off of. And, and you’re not going to stop taking it. And I don’t think no one, no one ever plans to run out of money in retirement. But sometimes, despite the best plans, it does happen. And you know, here are some signs that you could look out for and some suggestions, hopefully to avoid them. One is you don’t have a long-term care plan. Now, this is a topic that people try to avoid in the planning, discussion, but it’s a very important one, because you could quickly run out of money in retirement, if you need long term care, but didn’t plan to pay for it. Now, they these are all statistics out there, you know, that say that more than half of the adults turning 65. Today, more than half, this is an amazing statistic. More than half of the adults turning 65 Today will need long term care. And about one in seven will need care for more than five years. So, think about that. If you’re over 65. I mean, it’s like it’s either me or you going into a nursing home. Right? I mean, that’s- so the question is, how do you pay for it? What are you going to do? Because, you know, long term care insurance first is not an easy thing to get. I mean, it requires you go through a medical, a lot of the insurance companies are very strict with those medical requirements. So, you might not even qualify for it.
Right? Well, I know a lot of advisors are even hesitant to bring it up. Well, yeah,
Brian Quaranta 04:35
I mean, the conversation has to come up in regards to how is it gonna be handled so you know, it’s secure money advisors. That’s why we’ve created the five key areas with our Right Track Retirement System because we’ve got income most importantly, and that’s to make sure that we have enough income to maintain our lifestyle in retirement, but more importantly, build an income plan that you know, you can’t run out of money with. Number two is making sure Get your investments are in the right position, a lot of people are taking way too much risk in retirement that they don’t need to be taken in, that’s a problem. Because if the markets go down 30, or 40%, people just don’t have their time to recover. Number three is taxes, because taxes will taxes will definitely erode your wealth. But number four is exactly what we’re talking about right now. And that’s healthcare. And part of that healthcare is having a strategy to pay for a health event, such as a long-term care stay. So, the conversation has to come up. And a plan needs to be put in place, whether that be you going out and purchasing some type of long-term care insurance, or deciding to use the self-insure model. Now, the self-insure model is basically that you’ve accumulated enough assets on your own that you could potentially try to pay for it on your own. But you got to look at what that increased need of income or cash flow would, would be and you know, how that could impact the balances of your retirement accounts. But again, I mean, it’s worth looking at, could you afford a long-term care policy? But more? Most importantly, is if you can’t, let’s talk about Plan B of how you’ll pay for it without having one of those.
Okay, yeah, that’s I mean, again, there are options out there aren’t there? There’s a lot of
Brian Quaranta 06:18
options today. So, the other thing too, that I think people underestimate is life expectancy.
Risk, right? I mean, that’s, that’s true.
Brian Quaranta 06:26
Yeah. Yeah, no, really, longevity risk is a big one. I mean, your retirement could easily be more expensive than you thought if you live a lot longer than what you expected. I mean, about one in four 65-year-olds will live to age 90. 90! So, I mean, let’s think about that. I mean, if you retire at 65, right, I mean, that’s 25 years and retirement. I mean, that’s a long time to be on them. Yeah, I’m glad you bring that up. Because think about the monumental task that’s at hand here. When you are shifting into retirement, I mean, some people may spend more time in retirement than they were in their working years. And all that accumulated dollars that you’ve acquired over those working years, has to last you for the rest of your life. And you know, Steve, things have changed so much with retirement planning these days, because more and more people are not retired with pensions. So you know, back in the day, if you retired 30-40 years ago, longevity risk was not that big of a deal, because the pension company if you retired, and you were lucky enough to get a pension, which most people were, the pension company was on the hook for paying you income for the rest of your life, no matter how long you live now, 85 to 90% of the people retirement, they do not have pensions, they have a 401 K plan. And this is really where the planning comes in. And this is why we created the Right Track Retirement System to help you get your retirement on track. And for the next 10 callers who call in right now we’re going to create a one-page financial review that will indicate whether or not you’re in need of a full-blown financial plan. I’ve seen others charge up to $1,000 or more for these similar features. But we’re going to give this away at no cost no obligation for the next 10 callers who called in right now. And it is going to take the mystery out of financial planning. It’s going to help you map out where you are and where you need to go. The number one thing that most people want to know today is are they on the right track for retirement, our Right Track Retirement System is going to help you determine where you are right now and where you need to go. And I’ve always asked us, you know, if you’re not on the right track, when would you want to know that? You know, probably sooner than later. You know, if you’ve ever wondered to yourself, you know, at what age should you start collecting Social Security, or maybe you’re thinking to yourself, you know, when I retire, I’m not going to have a pension, I’d like to find out how I can create one or maybe you’re thinking I’m getting older, and I just don’t have the ability to take a big loss in the markets. I just don’t have time to make that money back. Our Right Track Retirement System will really help identify this for you. And again, we’re also going to run a free report for you to help you untangle what it’s costing to work with your current plan or advisor will also perform a tax analysis and give you a customized income plan utilizing proven strategies and techniques that can literally turbocharge your retirement most importantly, we’re just going to take the guesswork out of financial planning. So again, for the next 10 callers who call in right now, that’s a comprehensive financial review, that we’re going to give away complimentary with no obligation
800-656-8616 The next 10 callers are going to get that comprehensive financial review you will see where you are today. But more importantly, you’ll end up with that roadmap that can help get you to where you need to be when it comes to retirement 800-656-8616 Again 800-656-8616 You can also text Brian directly. That’s BrianQ, all one word, BrianQ to 21000 BrianQ to 21000.
Brian Quaranta 09:48
When we come back, we’re going to continue to talk about reasons why people run out of money and we’re going to provide you with solutions to avoid the worst when we come right back right here on Retirement You Radio
We are back on retirement, you radio increasing your financial IQ with BrianQ. Brian Quaranta, of course, is who we’re talking about. I’m consumer advocate Steve. And Brian is the guy at Secure Money Advisors, President CEO, he’s an author and so much more. So hey, Brian, um, we’re gonna continue the conversation, right? So, we talked about longevity risk. And where are we going to pick it up? Pick up on health care costs? Holy cow, that’s another big deal in it.
Brian Quaranta 10:33
Yeah, help me health care costs are big. But I think that kind of fits into, you know, what we were just talking about with, you know, with a health event. So, but, the other things I want to talk about, because we only have so much time on the show, is I really want to talk about inflation and taxes because the other-
I mean, that’s, yeah, that could be a big deal. I mean, inflation could begin to show up again,
Brian Quaranta 10:57
Not only can it show up, but also you add taxation in there, and it becomes one of the biggest rotors of your well. So, you know, when you’re working, you might not feel the impact of inflation if your wages are rising along with prices, so you might not factor in inflation, to retirement savings calculations. But when you retire, we’ve got to assume that you know, every year that you’re retired, maybe the cost of living goes up a little bit. And so, we’ve got to assume that you know, the money that you’re taking out of your retirement accounts today is not the same amount of money that you’re going to be taken out of your retirement accounts tomorrow. So, we got to adjust for the increase withdrawals from the retirement accounts. But here’s the other very big, overlooked area. And that’s taxation. So, let’s just talk about for a minute, basic fundamentals and building a retirement income plan. So, for most people today, the account that they probably have is some type of employer sponsored plan like a 401 K plan. So, let’s suppose that you’ve got money that you’ve accumulated as 401k plan, and you want to retire. And the only guaranteed source of income that you’re going to have is the social security check. Okay. So, let’s suppose that Social Security is not enough money for you and your spouse to live off of, and you’d need an extra $10,000 a month in income. Okay. And let’s say that you plan on taking these withdrawals from your retirement account. Well, every time we take a withdrawal from your retirement account, we have to pay taxes on that. And so, let’s just say that we’re in a 20% tax bracket. And so, after we take the withdrawal, we’d net out $8,000. So, we got 10,000, we paid 20% in taxes, now we got $8,000 leftover, and that’s enough for you guys to get by and do what you want to do. And all that kind of stuff. Now all of a sudden, tax rates go up. And let’s say tax rates go from 20% to 40%. Now, that same $10,000, withdrawal is going to net you a lot less money. So rather than it netting you $8,000, it’s only going to net you $6,000. So now, because of taxation alone, we are going to be in a situation to where you actually have to increase the amount of money coming out your retirement accounts to try to net you the same amount. Now you add inflation in there, it’s going to get very, very, very messy. And these are the things that we have to take into consideration when we’re building out the retirement roadmap. These are the worst-case scenarios we have to look at and say, Okay, what if tax rates go from 20% to 30%? Or 30%? To 40%? What happens if inflation goes from 2% to 3%? To 4%? What is that going to look like? Now, you really want to build in different scenarios where you say, Okay, what if tax rates go up, inflation goes up, and on top of it, I have a health event, now you’re starting to really put a lot of pressure on the portfolio to see what it can really withstand. And we’re doing this because we’ve got to figure out what rate of return you really need based around all of these variables in order for you to have a retirement that you can be confident in, and you won’t run out of money. And the three interest rates that we typically look for in retirement planning are number one, what I call the spin down interest rate. So this would be once you bake in all these variables such as a health event, inflation taxation, the question is what rate of return would your investments need to do if you needed to take a certain amount of money out each month and you wanted to spend that money down to zero, let’s say by the age of 90 or 95. So that’s our spend out rate. Okay, the second rate we will look for is the preservation rate. So, once you have all these things baked in, now you figure out okay, if I take this much money out, and I want to maintain my principal, what rate of return do I need to do now? That’s the ideal situation because everybody would want to be able to get their money working for them to the point to where they’re only taking out what the money is earning, not the actual principle itself. I mean, at least that’s the way I was taught to do it. You know, my grandfather told me a long time ago, he said, Brian, you’re going to work for be hard for your money, you want to invest in a way to where, you know, you can invest your principal and live off just the interest. So that’s our preservation rate. And the third rate that we look for is what we call the legacy rate. So, if I want to take a certain amount of money out, and I’ve got baked in all these different scenarios, what rate of return? Do what does the portfolio need to do in order for me to take all this money out and still grow the portfolio? Now, what’s the purpose of figuring out what those three rates? Well, that starts to give you the GPS coordinates that you need to figure out what direction you need to go, because a lot of people are taking a lot more risk than what they need to for what they actually need the portfolio to do. Because as we approach retirement, and we get into retirement, the whole idea is we want the money to start to work for us and be effective and working for us. But we also want to try to take the least risk possible, so that we don’t put ourselves in a position to where if the market goes down, we could lose half of our money, because that’ll certainly put you back in the workforce immediately more than anything else is a big market correction. So, these are just some little tips that you need to know go into retirement and the Right Track Retirement system that we’ve built, Steve, really helped measure out the impacts of all of these different variables. And the whole idea of us building the Right Track Retirement System was really to give you clarity, and help you break this down into a very simple to easy, easy and understanding format. And we’ve done that by creating a one-page financial review that really will indicate whether or not you’re in need of a full-blown financial plan. And as I’ve mentioned before, I mean, we’ve seen other people charge up to $1,000 or more for the similar features or offers. But if you call in right now and you’re one of the next 10 callers, we’re going to give you a complimentary, no obligation appointment to help you determine whether or not you’re on the right track. And truly it is going to help take the mystery out of financial planning, it’s going to help you map out where you are right now and where you need to go. We’re also run a free report to help you untangle what it’s costing you to work with your current planner advisor. And then we’ll run a tax analysis to reveal how you could possibly reduce your taxes. We’ll even run a customized income plan utilizing proven strategies and techniques that could turbocharged your retirement income and take the worry out of living too long and short. Most importantly, the Right Track Retirement System is going to take the guesswork out of financial planning and give you the clarity and confidence you need going into retirement. So again, for the next 10 collars, that’s a comprehensive financial review the Right Track Retirement System, we’re gonna give away complimentary with no obligation.
800-656-8616 let Brian sit down with you and get that financial roadmap put together, take that complex financial world and turn it into something that really just makes sense. It’s an excellent chance for you to get that true practical financial review 800-656-8616 You’re going to get that comprehensive financial review that Brian just described, plus all the extras that go along with it. And you’ll find out where you are today. But more importantly, you’ll end up with the roadmap that can help get you to where you need to be when it comes to retirement. It’s 800-656-8616 800-656-8616 you can also text Brian, we’d love to hear from you text BrianQ all one word to 21000 text BrianQ to 21000
Brian Quaranta 18:19
When we come back some tough questions you may hesitate to ask your advisor will face them head-on right after this
Welcome back, everybody Retirement You Radio is where we are; BrianQ, increasing our financial IQ with BrianQ. Of course, I’m consumer advocate Steve, Brian, President and CEO of secure money advisors and does so much more than that your fiduciary you’re independent, you do all the things that we need in a good advisor. And now, you know, you said questions that were hesitant to ask an advisor and I get that I would understand I would guess that you probably face that. In other words, you kind of get a sense that people are hesitant to ask you a particular question.
Brian Quaranta 19:06
Yeah, well, I mean, that’s why we’ve designed the Right Track Retirement System, because you don’t have to worry about that when you come in. You know, number one, I think a lot of people feel intimidated, potentially of coming into a financial advisor’s office. I think they feel like they’re gonna get sold something. And I can understand why I mean, that’s the old school way of doing this business. I mean, it was a, you know, there was a lot of selling going on. But, you know, the new financial advisors are out there. And there’s a lot of great advisors out there that are truly out there to help the individual solve problems and help build a plan. But you know, every week on the show, we tackle a lot of information about getting to retirement. Yeah, how much should I save? How much should I withdraw every year? How much income all I really need? Great questions, for sure. But what about the ones that you may be hesitant to ask like, what are the implications of divorce and retirement?
That’s a big deal today isn’t it? I mean, are you seeing more divorces?
Brian Quaranta 20:02
Well Steve, I mean, I’ve been through a divorce personally. So, I know what this is like. And this is why, you know, we help a lot of people that have gone through divorces, because this hits close to home for me. So, I understand the process very well. But the personal and financial impact of a divorce can be severe. I mean, especially during retirement, you know, in deciding on how to divvy up real estate, retirement savings, pensions, even a family business or stock options, you know, while remaining mindful of any life insurance proceeds that you might have had together, or long-term care policies, or debts. And, you know, all of that can be both costly, and more importantly, it’s emotionally devastating. What about the question of, can I leave more money to one child, and another mom always liked you best mom always likes you best. So, but believe me, believe me, this is more common than you think. I mean, there’s clients that we have, where, you know, they might have a family business, and one of the kids, you know, participates in the family business, and maybe the other kids do not. And they feel that things are a little bit out of balance, because the one child who’s going to carry on the family business, you know, has a greater monetary stake because of the business alone. And then the actual retirement savings themselves, you know, they feel like might want that to go to more of the other kids. So, you know, but these are all things that, you know, have to be evaluated in the planning process? Or how do I say no, to my adult children that request for money?
That’s a tough one. I mean, we want to take care of our kids. I get it. But boy, you got to watch out for you too.
Brian Quaranta 21:52
Yeah, I mean, you do I mean, saying no to an adult child who is hurting or in need. I mean, that- let’s face it, I mean, that can be very difficult. And you know, it’s possible, you set yourself up for this through your previous actions. I mean, the real world is full of disappointments. And neither you your spouse nor adult children can afford to delay the inevitable. But you know, you get to a point to where you got to think about yourself first, and I have met people in a 21-year career, I have met people that have jeopardized and literally have destroyed their own retirements to help out family members and loved ones.
I know, that’s a sad thing. But it happens, isn’t it? It sure does.
Brian Quaranta 22:30
It sure does. So how about this one? Do I need to save money in retirement? I liked that question. Do we Yes, despite all those years of saving, to finally achieve the, the official label of I guess, retired. And live off your nest egg, people should still find ways to save money during retirement. And, you know, particularly during the earlier years, and the nice thing about building your model out so that you do have, you know, some money leftover at the end of the month that you can save is it just adds to your cash reserves. And that’s nice to have. Because, you know, you can pay cash for a car or you can pay cash for vacations, things along those lines. So, it doesn’t hurt to continue to have a savings plan in retirement. What about do I need to? Or should I work part time in retirement? Now, this is really different for everybody. It’s nice to build a plan out. So that if you go back to work, it’s because you want to go back to work not because you have to. And what we found is that, you know, for new retirees, the idea of part time employment to fill the financial gaps and maintain social connection is kind of a popular theory in retirement planning. You know, I mean, even my own father does this. I mean, you know, he helps out with my younger brother’s business, but it allows him to get out of the house every day and go socialize. Sure, you know, and I think, folks, well, sure, I mean, we’re as human beings, we’re social creatures. I mean, you know, look at the devastation of, you know, mental health over the past year with COVID. I mean, you know, if COVID didn’t remind us of how important it is to have human engagement, I don’t know what did. So, you know, I mean, you think about it, you know, everybody got the kind of experience a little bit of what retirement was like, despite the fact that you couldn’t go do anything.
But that’s a good way to look at it. That’s interesting.
Brian Quaranta 24:32
Yeah. I mean, everybody got this knows what it’s like to just wake up and be at home. You know, and somebody will say, you know, I just like waking up and having to go somewhere, but, you know, other people, but then again, I mean, you know, COVID has, you know, also forced some people into early retirement because they really liked staying home and when they had to, when they had to finally go back to work, they said, “No, no, I want to retire now.” So, anyway, these are just a lot of other questions you should think about asking, I mean the Right Track Retirement System that we’ve built here at Secure Money Advisors, Steve, helps go through all of this with you so, you don’t have to think through this. And the whole idea behind creating the Right Track Retirement System was to make things simple and easy to understand. And matter of fact, for the next 10 callers to call in right now, we’re going to create a one-page financial review, the Right Track Retirement Review, and it’s gonna help you indicate whether or not you’re in need of a full-blown financial plan. Now, we’ve seen others charge up to $1,000 or more for similar features or offers, but we’re going to do this at no cost, no obligation if you call in right now and schedule your appointment. Most importantly, the Right Track Retirement System is really designed to help take the mystery out of financial planning. By helping you map out where you are right now, and where you need to go. Literally giving you turn by turn directions will run a free report for you. Help you untangle what it’s costing to work with your current plan or advisor will run a tax analysis show you how you could possibly reduce taxation. We’ll even show you how to build a customized income plan utilizing proven strategies and techniques that can turbocharge your retirement income and take the worry out of living too long. Most importantly, the Right Track Retirement System just takes all of the guesswork out of financial planning. So, for the next 10 callers who call in right now, that’s a comprehensive financial review, that we’re going to give away complimentary with no obligation
800-656-8616 Get that comprehensive financial review right now, you’ll see where you are, of course, but more importantly, you’ll walk out with a roadmap, a guide that can help really, really help get you to where you need to be when it comes to retirement. 800-656-8616 again, 800-656-8616 you can also text Brian direct. That’s BrianQ all one word to 21000 BrianQ to 21000.
Brian Quaranta 26:47
What are radio listeners asking this week when we come back right here on Retirement You Radio, we’re gonna go over your questions and more right after this short break.
And we are back on Retirement You Radio increasing your financial IQ with BrianQ. I’m consumer advocate Steve. And Brian, of course, the guy behind the Right Track Retirement system. We’ve been talking about it all day to day, Brian and you know, you’ve really kind of found something that makes a lot of sense for folks.
Brian Quaranta 27:20
Well, we’ve really identified the five key areas that everybody really needs to understand going into retirement. And that’s number one, most importantly is they need to understand income. Because when you retire and you stop working, the paycheck is going to stop. But bills, taxes and all the things that you want to do is not going to stop and you’re going to need to generate income on a monthly basis to maintain your lifestyle. The question is, how are you going to do that? Because you know, there are models out there that could potentially keep you at a lot of risk and have a high probability of running out of money before you die, and you just don’t want to put yourself in a situation to do that. And I think the real differences, most people are used to working with people that focus on the accumulation stage of of retirement planning, not the distribution phase. You know, those of us that focus on retirement planning, true retirement planning, understand the distribution of retirement, right when we’re no longer accumulating dollars. But now, we’re actually living off of those dollars and generating income with them, there’s just a different set of rules that need to be followed. And there’s different strategies and techniques that you want to use to give yourself peace of mind and maintain a really good solid retirement, through the ups and downs that we may continue to experience with the markets in number two is making sure that your investments are positioned the right way. I can’t tell you how many people we meet, Steve, that are taking way more risk than what they need to and they’re actually not getting the rate of return that they should be for the level of risk that they’re taking. That’s a big one. I mean, if you’re gonna be taking risk with your money, you should be getting the return. And that’s something that we expose to people and show them. You know that if you’re taking this much risk, right, you should be getting this much return. And if you’re not, you know, the chips are not stacked in your favor. Number three is taxes. We talked about that earlier, because taxes can erode your wealth, simply by just tax rates going up, right? I mean, if I’ve got to take $10,000 out a month, and I’m going to 20% tax rate, I’m only going to net $8,000. But if tax rates go to 40% that same withdrawal of 10,000 has only netted me $6,000 tax planning is very important because if we can go from taxable money to tax free money. Now every time we take a $10,000 withdrawal out it doesn’t matter where tax rates are because all of that money that we’re taking out is going to be tax-free and planning for a tax-free retirement or a reduced-taxed retirement takes consistent planning. Alright, and you got to be focusing on these things about 10, 5 to 10 years out from retirement. Number four, Steve, we talked about that earlier in the show. And that’s healthcare. Right, we talked about the importance of planning for health care, because that can erode your wealth very quickly. And number five, and most important, we have not talked about this yet, but the Right Track Retirement system really dives into the strategies to use for here, but the largest beneficiary, who do you think the largest beneficiary of people’s wealth is at death, Steve?
Brian Quaranta 30:36
That is actually 100% correct. It is the IRS because they are coming after your money. Look, you know, all you got to do is look at the secure Act that was signed in the law. And at the end of 2019. The secure Act was a big money grabbed by the IRS. And if you don’t know what’s happened there, there’s a few things number one, under old, the old law, we could actually, if you died, you could actually give your IRA to your children, without them paying any taxes on it. Now, there was some rules that you have to follow, like, they would have to take out a little bit of money each year. But you know, it’s such a small amount of money that the remainder of the IRA could just stay in the account and grow. And it really provided for a lifetime benefit to the child. Now they want you to have all that money out of there within 10 years. And it’s a huge tax grab, there was a great article in Money Magazine, Steve, have a son that inherited his father’s half-a-million-dollar retirement account. You know, and when he went to go process the death claim, the 401k company sent the son, the death claim paperwork, the son fills it all out, sends it a death certificate. And the IRS or the I’m sorry, the 401k company sent this on a check for $500,000. A couple of weeks later, the son gets a 1099, showing that he took $500,000 in income. And the article went on to say that the son owed over $240,000 in taxes on his dad’s retirement. And unfortunately-
Brian Quaranta 32:13
So sad. But these things happen over and over and over again, because people don’t understand the basic fundamentals of distribution. And again, distribution is different than accumulation. But again, this is why we built the Right Track Retirement System. It’s all designed around making sure that you dot all of your i’s and cross all your t’s so, nothing’s left undone. And you make your family the largest beneficiary and not the IRS and you get the most from your monthly income, not the IRS. And these are all the things we’ll teach you how to do here at Secure Money Advisors.
So, and again, I mean, you bring up a good point and with the stretch IRA, and if you’ve had an IRA and you set it up to be that way, it’s time to take a look at that and look at the beneficiaries and make sure that you know, things are going to be the way that you really want them to be.
Brian Quaranta 33:00
That’s right. Absolutely. And understand the IRA inheriting rules and understand how to utilize those in your favor. So absolutely. All right, our Right Track Retirement System, really is what we’ve been talking about here all day today, Steve, and again, for the next 10 callers who call into the show right now, and schedule an appointment, we’re going to walk you through the right track Retirement System by providing a one page financial review that will indicate whether or not you’re in need of a full-blown financial plan. And we’ve seen others charge up to $1,000 or more for similar features. But we’re going to do this review at no cost no obligation for the next 10 callers. And the Right Track Retirement System is all designed to help take the mystery out of financial planning. It’s going to help you map out where you are and where you need to go. We’re also going to run a free report for you it will show you how to untangle what working with your current advisor or planner is costing you and to see if we can simply help protect your retirement investments and do it in a more experienced dramatic growth potential type of way will also help you perform a tax analysis show you how you can save on taxes. I’ll show you how to create a customized income plan, utilizing proven strategies and techniques that could literally turbocharged retirement, but most importantly, the right track Retirement System is all about taking the guesswork out of financial planning. And for the next 10 callers who call in right now. We’re going to give that away. Complimentary No obligation that’s a comprehensive financial review
800-656-8616 Get that comprehensive financial review see where you are today, of course but more importantly, when you walk out the door, you’re gonna have that roadmap that we talked about that guide that can really help get you to where you need to be when it comes to retirement 800-656-8616 Again 800-656-8616 or just text BrianQ to 21000 text BrianQ to 21000 Brian, as always a pleasure, and great information as always.
Brian Quaranta 34:58
Steve, it’s always good seeing you here and we’ll see you again next week right here on Retirement You Radio.
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