A new story from The Steve Holland Retirement Wealth Show

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S. forty hours and hours all my gosh I cut my work we can half okay I'm gonna make you do some math if you'd speaking of work again take that times fifty two and if you've got your your calculator made your iPhone in front of you you know that that works out to be two thousand eighty hours I was gonna say probably two thousand hours because five times wars twenty you know add a couple zeros there thousand or what you said two thousand eighty two thousand eighty yeah two thousand eighty that's a lot that's how much time you get to spend doing what you wanted to you once you retire this is pretty good to me yeah right sounds sounds like a lot of time it will it that's the other thing that's a lot of time to fill every year but I want to know this Steve how do you make sure that you can actually afford to do what you want all right right you know I used to quote this guy yogi Berra he was a baseball player and that he passed away in two thousand fifteen he had a long career but yogi Berra in addition to being famous for baseball he was famous for what people call of yogi isms he had a lot of great one liners a lot of great saying if you well he's the one who came up with the same it ain't over till it's over the future ain't what it used to be what the heck does that mean I don't know but I'm scratching my head I know what about this one when you come to a fork in the road take it and do what I don't know the flight right that's just did come to the fork in the road take it or what about this one why do you buy good luggage because you only need it when you travel all right well thank you so much yogi but here's the one that I like the most at and this is I think is most famous one with financial advisors a dining worth a nickel anymore no my gosh this is so I think that's important because one of the things I see missing all the time imprudent retirement plans comprehensive retirement plans is an inflation strategy you've gotta have inflation strategy it's it's so important because Meghan we we know that the bottom line it nothing will ever stay the same price everything slowly keeps going up higher and higher and higher as we're talking about this today I want to discuss something that I know is near and dear to you Steve you know how important this is and that is tax planning how do you approach this with the goal that your clients can spend more of their retirement dollars the way they want to well tax planning is is kind of like you know the way I look at it it's kind of like not exercising if I didn't exercise and I ate the way I because I love to eat I absolutely it's Meghan when I get up in the morning that's the first thing I think about what super breakfast and lunch for bright what is typically for breakfast sometimes it'll it'll be traditional it'll be like eggs and bacon sometimes it's maybe a bagel sometimes I I must admit I I do like those kind bars in quest bars every now and then and I get you know my my opinion of these these energy bars is if you can read all the ingredients if you actually recognize the words then most of the time you're gonna be okay but if they're with really long words in use can't even pronounce them that I would steer clear those but yeah I I I definitely like to eat but you know what if I didn't exercise I'd probably would be at least fifty to a hundred pounds heavier right now so there's an old saying if you want to lose weight eat less move more and I think that's very true now the same thing in reference to taxes if you ignore your tax structure if you ignore your tax return year after year after year after year a lot of you out there listening you've got something that is building up it's getting bigger and bigger and bigger and that is your tax deferred the tax bomb if you will you've got money in a four oh one K. you've got money in an IRA its pre tax which is great when you put in the contribution not so great trust me when you get into your seventies and into your eighties and when you some day pass away and hand off your wealth to your loved ones to a surviving spouse or to your kids so we want to make sure that we approach tax planning very very carefully we get very dearly involved in this with you every single year Magen you know what I do I tell clients look I want you to remember after Halloween we have another another holiday coming up it happens to be one of my favorite holidays in that's thanksgiving so I tell clients that come thanksgiving time in addition to having a wonderful feast in addition to being thankful that you have good health thankful that you've got a family that loves you thankful for everything that you have in life I want you to also think of one other thing and that is call Steve and call Steve's team I've got to get over to the Holland group for some year end tax planning we call we actually call these thanksgiving appointments and our clients get it they say aha makes good sense because at the end of the year I know exactly where I stand and I know exactly where I am going into the next year so the problem with tax planning is this there's nobody that's really going to change the outcome of your two thousand eighteen tax return and we all know why two thousand eighteen is over it's done but what about your two thousand nineteen tax return your twenty year twenty one you're twenty two what about the next ten years that is what we are known for here at the Holland group doing customized detail up tax planning moving forward so tax advice very very important that you have a tax adviser not only a tax preparer find out more call us here at the Holland group for your free consultation seven two seven two two eight sixty four forty nine again that's seven two seven two two eight sixty four forty nine in addition to healthcare in addition to reducing taxes and planning for inflation and making sure you have a defensive portfolio so you don't lose a ton of money the next.

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