Katie, 99%, Keith discussed on Guaranteeing Your Retirement with David Graham


A bunch of emails. Katie, don't wait. We sure do. The first one is from grace in Siesta key, she says. My three kids who are all in their forties, want me to join them and buying a vacation house that they could all share together isn't about idea since real estate. It's so high right now. That's a good question. I think online. We have one of our senior advisors. Mr Keith, Poland. Are you there by any chance? Hey, Good morning. Good morning. You're always the man behind the curtain. How are you doing this Sunday? What do you think I want to lead off with that one. I'm sorry. Were you wanna lead off with that first question? Oh, okay. Yeah, sure. Um, I think there's a lot of variance going on. You know? How much would it be? Um, Is there going to stress out your retirement savings? And not only now, but in the future. You know, we have to take inflation in consideration. Um, does a couple of the points I would Would think about before purchasing this property. Yeah, that's that's very, very true. Do you feel like guess, Grace, you have to ask yourself. Can you afford it? Okay, Number one. Can you afford it? If he can. Sometimes the best things you can do is when you share things with your kids like taking that annual family vacation, that kind of thing. One of the benefits you might have. If you can't afford it is someday simply leave your share of the house to the kids is happening. Your trust. It's a simple transfer of wealth to your kids. So Something to think about. Good question. What else you got there? Kitty Kallen Largo wrote in and said he has a pension from a previous job in a different state. That's just been sitting there for years. He has the option to take a lump sum and invest the money himself. Should he do that, or just leave it where it is and get a monthly pension when he retires. Well, what I have seen is that study after study after study always says the same thing. Always take the lump sum always take the lump sum. Not only are the fees less, but you're gonna be able to invest it more properly for retirement. And also you're gonna get a higher rate of return. So it's really kind of a no brainer. Now unless you have you know, we re run it through software when you come into our office is just to make sure one of the 10 times will find that find out that you're better off just leaving it there. But 99% of the time. It's really it's in your best interest detective lump sum and go to somebody that's gonna work as a producer, ready to invest it for your properly not worrying about being part of the system any longer where they're going to be investing your money in mutual find this where you can't even control what goes on until the end of the day. So my suggestion is definitely take the lump sum. What's your take on that, Keith? Yeah, I totally agree. You know not only doing the director all over to a C F p or certified financial players or they'll have more options to invest that money in then the pension will if you're still looking for lifetime income. That certified financial planner will show you avenues or instruments that will give you that. The best thing about it is most of these instruments that I'll give you. A lifetime income will also give the beneficiary. Whatever's left in the face value some of these pensions, you know, Once you're past away, that's it. There's no beneficiary proceeds or anything. There you go. It's very good point. What else you got there, Katie? I have Angelina Atlanta Lakes who wrote in and said for years, she's had half of her money with one broker in half with someone else. They're both really nice guys, and she thought it would be good to get advice from two different people. But now it just seems confusing. Is she better off to have it all in one place rather than two different people? Well, actually, I mean, it's the number one it z gonna be much easier. It's probably gonna be safer for sure. It's probably not even cost your last by simply going with one adviser. But the main thing is now to make sure that they understand retirement planning. If you go to a banker At your local bag. He's going toe. Put your money into everything that the bank owns. It's usually going to be different kinds of investments more often than not mutual funds. You don't want to be paying front load some back loads when you don't have to. When you can get an E T f. It's just gonna do the same thing as a mutual fund. So again. You know you're better off. I think in my mind going to somebody that specializes in retirement, That's what you're looking at right now and not just investing. You know, you're in the what's called the wealth preservation stage of life, not the wealth accumulation stage. So my suggestion is just to go toe one adviser Keith, What's your Take on that? Yeah, I totally agree. Let's make it easier, especially when you're getting into retirement. If you still like that one guy compared to the other, go with him, But yeah, I would consolidate. Make it easy on yourself. There's a lot of almost they know what they're doing more than anything else, because again you always hear me say this that any time you go to somebody that I on their business letterhead, it's the name of the bank. Insurance company, a brokerage house. Yes. What I don't work for you. They work for that company, and they have to satisfy the needs of that company before they get to you. Before they get to you. They also satisfy their own needs, Whatever way they have to do it, So that's why you want to go to somebody. That's a producer. Very good question..

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