it'' s difficult to let go of your old ego and also that you were as well as your identification right up until you recognize the new one right you need to do that or you end up investing a life in a neutral zone right as well as you wear'' t wish to really concentrate on what ' s gone you wish to focus what you have currently as well as where you are now [Music] he puts his trousers on one leg at a time simply like every various other individual currently i know you'' ve heard that before'i ' ve heard it as she she all right she puts her pants on does she use trousers yes okay however here'' s the point we ' ve heard it'before and it ' s utilized in referring to an individual of a raised social standing like a celeb or a film celebrity or a celebrity athlete or perhaps even a person with an inflated feeling of prevalence of themselves somebody with possibly a huge ego like a corporate exec and you know most of us have egos as well as egos are essential since it assists us with our self-worth as well as our self-importance as well as we want and needs to really feel good regarding ourselves however but what happens what takes place when our vanity is connected right into our professions and also after that you retire possibly you had accessibility to the company jet or a substantial expense account or possibly a business automobile a corner office the list goes on when those perks that were part of your identification as well as ego go away you can feel vacant pointless inconsequential yeah as well as it feels poor and it occurs it occurs to everyone since you do go with this transition yet today we'' re going to speak about means and also something that you can do regarding it because we had we had good successful careers we did and as well as we both dealt with vanity in time and it was the cause of much of our conflicts despite having each other that'' s best i functioned for a ton of money 200 business as well as mark was the owner of his own organization you know my vanity was driven by title and success and rising as well as involvement with my team and the size of my team and also my wage my perks like the business jet and also expenditure accounts yeah jeez i miss out on a great deal of that currently you'' re believing regarding it you were the huge cheese now you was just one of the senior execs in a big firm as well as yeah and i liked it you were you enjoyed it as well as you functioned really difficult to arrive for me it was a little bit different i was an entrepreneur you recognize it was a much smaller business you understand 50 workers yet it was it was a family name i was a fourth generation proprietor i was the chief executive officer as well as i i had a great income i had excellent advantages stats standing in the business area right and our company was 105 years of ages when we marketed it to ensure that'' s both of us had a great deal at stake we had a great deal left we had a great deal of the company vanity as well as as well as wear ' t obtain me incorrect we additionally had some individual ego which i believe everyone shares appropriate success as a mom or a father as a spouse or a spouse connection success with buddies as well as roles in your area non-profits boards you remained on you recognize all of that belonged to vanity on the personal side but right here'' s things what takes place when you leave your company since it occurred to us does your ego get deflated it most likely does and what does it seem like it doesn'' t really feel wonderful so today we desire to talk to you a little regarding some means to obtain around that because really when we left our occupations a few things occurred to us very swiftly we right away felt unimportant and we entered a little an identity crisis you know what is my title when people ask me what i do what do i say i put on'' t have a card i wear'' t have a corporate sort of training course persona i just have who i am today plus we'likewise you understand we'' re not that claiming we ' re not obtaining any kind of more youthful we'are obtaining older and possibly we ' re also old to learn'new skills so well undoubtedly we ' re not because we ' re doing this currently i imply going from being an insurance policy broker chief executive officer to this significant life change big abilities we had to discover yet our vanities obtained an excellent kick in the butt as well as today we'' re going to offer you strategies to change your business or profession vanity out and concentrate much more on your personal or your retired self-ego since you still need that currently there'' s a couple of youtube episodes we wish to reference to you as well as they'' ll be in the links down below one is creating a brand-new identification in retirement it ' s a terrific episode and afterwards we have the three-step series on retiring five to 10 years out the change and then the last year at the workplace they'' re both terrific um youtube videos to watch so let'' s delve into the 6 techniques to transition your ego and also'let ' s begin with top produce a technique of self-affirmation that could sound extremely basic to you but if you start to write down what i call everyday ims you start to think it it enters into your mantra your interior discussion in your head relocates to i'' m a fantastic mommy i ' m an excellent partner i am not a fantastic chef but mark is so this this concept of creating these ims it was new for us three years ago however we both every day do that it'' s component of our early morning journaling since to enhance that you are in a positive way really really helps a lot you recognize it as well as the list expands as you expand your identity and your area in retirement you know you can move from kind of that you are to what you'' re contributing as well as include those as several of your everyday iams now the second method to service this is actually your identification we discussed that earlier and also we speak about this a lot in our your retirement tactical plan due to the fact that it is a huge process that you'' re mosting likely to experience in this terrific publication we reference the means of change by william bridges there'' s three stages you undergo in a shift first stage is letting go the 2nd stage you'' re in this neutral zone and afterwards the 3rd stage is when you identify that the new you is and also that'' s so important to do it'' s a terrific book'it ' s a terrific read however it ' s difficult to allow go of your old ego and who you were as well as your identification right until you understand the brand-new one right so you require to do that or you wind up spending a life in a neutral area right and you wear'' t wish to really focus on what ' s gone you wish to focus what you have currently and where you are now points like possibly you recognize say goodbye to corporate jet but i ' ve worked to a place where i can constantly fly company or extraordinary no more firm automobile however did you like driving the 4 doors you know you know you could have you want yeah liberty to purchase the auto that you want so the third technique that we'' re chatting about today is to surrender your need for control during your occupation you might have been in fee making all the decisions all day long large ones children all of them allow others begin to choose and also this can be a huge modification for you and we both really fought with that we did and i assume that i would certainly say to be fair and to be honest you battled with it extra yep right here we go you didn'' t desire me to do particular points around your house since you were utilized to doing yourself however the thing right here is to interact regarding it so when you start letting go you need to allow go yet you allow a person catch it i imply it'' s like that thing where you claim i'' ll go to the grocery shop as well as then you call me 9 times from every aisle that'' s i i ' m you enabled to promise on youtube no that'' s such bs it is not it is so the fourth technique this is what jody requires to invest even more time doing is to delight in silent moments with yourself to look internal at who you are and also how you treat your husband appearance silent minutes with on your own are necessary as well as it can be hard at first since silencing your mind takes job it'' s amusing to think that we both meditate it'' s a it ' s a great device to use but it ' s tough to learn how to do it we both utilize uh headspace an excellent app there are a couple of other ones yet that a person we have a tendency to both use and it'' s a good location to start you'know as well as and also if you ' ve seen our new year ' s resolutions uh youtube you understand journaling is an excellent place to begin also as well as that'' s something i need to devote to and also we both enjoy to view the sunlight turned up or the sunlight drop and often that means you'' re up at 5am to see it however it'' s a good time to be quiet right and also simply to assume the 5th method is to truly begin a mindful initiative of practicing thankfulness there are a lot of manner ins which you can do this you can do it before you go to bed at night you can consider the one point that you'' re grateful for you can do what mark does as component of his early morning ritual and write three thankfulness on a daily basis or you recognize simply make a technique of telling a person every solitary day what you'' re grateful for as well as what you ' re grateful for regarding them you understand living a grateful life enables you to be much more humble you really feel more to life it'' s much easier to like other individuals as well as honestly it'' s much easier to be liked the sixth technique is to volunteer and also we bring offering up a lot in the wisdom sharing classification as well as definitely in the year retirement strategy there'' s nothing more enjoyable than assisting a fellow human and also this concept of wisdom sharing and retired life it'' s truly as we ' re going through this and getting deeper and dealing with even more customers it'' s such an excellent method to immediately feel relevant again to really feel required and to feel like you'' re making a difference as well as truly it'' s feeding that retired vanity that retired self-ego currently we hope these six methods will certainly help you with this procedure of producing a new ego not focusing on what you'' ve shed however who you are today you know better recognize what your vanity was during your career but let you know that you can release that and change and also much more importantly and also most significantly what you can become currently listen if you enjoyed this please show your good friends and likewise please subscribe by clicking the subscribe button below don'' t forget to join our complimentary facebook community the web link is below also jody as well as i are in there each week going live taking your concerns is a various degree of communication so please do that many thanks for listening and we look forward to seeing you again soon
[Songs] welcome back to the retired life earnings show i'' m mark elliott along with the chief executive officer and also founder of oak harvest finance team a plus rated by the much better organization bureau of houston situated at 920 memorial city means straight off i-10 and shelter hill you can constantly most likely to the website to discover out more oakharvestfinancialgroup.com i think it'' ll be one of the more excellent internet sites you'' ve ever before seen a financial team have in location undergoes every one of the staff member speaks about a whole lot of different locations of retirement a great deal of fantastic details there you can always look for troy'' s 100 plus videos on youtube simply look for troy sharp and also oak harvest you will certainly locate that on youtube too any kind of concerns you intend to take a seat and also chat with the team below'' s my situation below ' s my problems tax obligations i think are rising what do you think i need to do i'' ve obtained a million bucks sitting in my ra none of that ' s been strained yet i think i'' ve got some concerns what ought to i do that'' s a fantastic location to start 800-822 no cost to talk with the group they ' re here to help simply don ' t recognize if they can till they hear your'scenario 800-822-6434 we ' ve been speaking about the total planning approach called the retired life 360 procedure at oak harvest and also you know troy we ' ve spoke about this prior to in different areas you'' ve got the earnings strategy the investment plan tax obligation plan health insurance plan uh the estate plan social protection ' s income component medicare ' s in the healthcare component that ' s a great deal of relocating components many people go into retired life thinking it ' s all about their financial investments as well as that ' s absolutely important which is why you start keeping that in the retired life 360 process yet the various other four locations are incredibly essential as well it'' s every little thing ' s looped'it ' s like you ' ve obtained a terrific violation in football your protection is no great well it ' s going to be an obstacle yet if you ' ve obtained a terrific violation great defense as well as you ' ve got great unique groups need to have a respectable year so it ' s about putting all of it together and also your group kind of does that you ' ve got a fantastic team around you at oak harvest you'' ve constructed this team you'' ve remained in houston because 2010 and truly have actually developed i assume a business that'' s constantly evolving always growing to the improvement of your clients at oak harvest so the procedure when somebody does call what occurs we understand they speak with honest is it a one phone call and also we'' re a customer is it two months later on i'' m a customer how does that all it'' s extremely sharp monitoring there mark due to the fact that you'' ve been with me currently doing this radio reveal it'' s been 4 years 5 years you recognize as well as we wear ' t ever speak about this but a little off air occasionally you understand you ' ll i ' ll discuss to you a few of the adjustments that we'' re production and where we'' re going and also what we ' re doing as a company as well as um you understand the reality of the matter is we absolutely have to do with constantly improving making our future larger than our previous making our future larger as well as much better for our clients than their past and also the vision from oak harvest financial group originates from my experience that i had with my grandparents so i ended up university and i had a financing degree the only factor i got the finance degree though is due to the fact that i didn'' t recognize what i wished to do in university i really started as a communications major as well as i quickly located out that was not for me i thought for a 2nd regarding being a lawyer my youth desire was naturally to play expert sporting activities when i realized that wasn'' t mosting likely to happen i considered being a sporting activities representative as well as i figured fine legislation institution could not be a negative point yet i reached university and also made a decision to transform from the communications significant went right into the service college got a financing degree because i said you understand what that'' s a strong structure i can get a good task and also i can make some cash fine i can provide some security for myself and it'' s i ' m not going to go the the double art significant uh course so i inform i tell youngsters constantly whether i'' m doing uh often i'' ll get worked with to do public speaking or speak in front of groups or whatever it is when i talk with young people i inform them look the initial large financial investment choice you'' ll ever before make is to determine what you'' re going to significant in in university since you'' re going to spend not just the cash but you'' re mosting likely to spend your time that'' s two years in your major and also the student loan loaning that you'' ll do that money plus the outrageous passion prices which are expensive about the rates of interest environment it'' s all a big scam it ' s all a large huge joke and also anyways it at 19 20 years old you have to make the among the largest to that factor probably financial investment decision of your life exactly how are you mosting likely to spend your time exactly how are you mosting likely to spend your money and what is the awaited return once you venture out into the workforce on that particular investment so if you graduate in something that set you back a hundred thousand dollars but you'' re going to obtain out of university and anticipate to make 40 000 a year wear'' t be surprised if you spend the next 10 to 15 years straddled in the red disturbed angry as well as simply typically not happy it'' s due to the fact that somebody didn'' t inform you what i ' m telling you now so if you have youngsters that are approaching secondary school please inform them that and also or approaching university let them know that it'' s a large huge investment decision fine so getting back to a retired life 360 process or excuse me i was discussing my grandparents so oak harvest and the vision for oak harvest originated from my grandparents so i ended up college and also i still don'' t recognize what i intend to perform with my life but my my grandparents that implied the world to me they made every sacrifice for me maturing i dealt with my mother for the very first ten years or so but my mom was not the most groom most definitely some ups and also downs in those years as well as my grandparents took me in and my grandpa marketed his organization sold his residence he was a very simple man he uh had a junkyard basically he purchased trashed autos and also offered the parts he had some mechanics as well as did you know fixed cars and trucks up as well i'' ll never ever bear in mind always remember as a little youngster seeing my grandfather every year would give away vehicles to the regional fire division and i'' d remain there and also what the fire department would do is they bring the jaws of life as well as they practice emergency life-saving techniques with the jaws of life obtaining people out of the damaged vehicles so i remember as a youngster simply sitting there enjoying and it was just one of the coolest points ever before so they suggested a whole lot to me they actually i wouldn'' t'be where i am allow ' s claim that 100 for certain if it wasn ' t for my grandparents so he sells his business offers the home they obtain two million bucks as well as my grandfather never ever completed sixth grade all right he was the earliest of a number of children his dad died young as well as he he quit sixth grade went to function had you recognize it'' s a familiar tale to many of you out there um held back numerous tasks he was the male of your home at what is that 12 13 years old in fee of caring for not just his older or more youthful brother or sisters but also his mom so never believed they'' d have that sort of money market the home sell the business 2 million bucks they retired in murphy north carolina tiny little town on the southwestern border of tennessee there um gorgeous community as well as they claim troy all we intend to do is enjoy the sunlight increase and also watch the sunlight established they were assuming concerning getting a recreational vehicle doing a little bit of traveling i increased to visit them as quickly as they got the residence and also retired and also claimed grandma grandpa congratulations you gained it thank you for everything you'' ve provided for me i finished university at that point so they had actually done their work to ensure that that i did finish institution the first individual in my family members to to complete college as well as concerning 5 or 6 weeks later on come xmases time december 26 2003 my grandfather has 2 aortic aneurysms obtain a phone call from grandmother i'' m pull back i remained in florida at the time i mosted likely to institution at florida state as well as thrill up there jump in the truck i think had to do with a 7 or 8 hour drive and also two aortic aneurysms he'' s in the in the in the doctor ' s space really we most likely to the doctor'' s room because he isn ' t feeling well that ' s where you figure out he has the aortic aneurysms he takes his tee shirt off and you could see it i remained in there with him 2 huge palpitations in his chest is boom boom boom boom the doctor considers him and claims larry you have 2 days to live troy go tell your grandma what'' s going on we ' re mosting likely to prep larry for flight gon na hop onto a helicopter as well as we'' re airlifting him to chattanooga tennessee a group of experts are mosting likely to carry out a procedure the odds of survival are 50 percent and it'' s regarding a nine hour treatment so i go back i inform grandma what'' s taking place it ' s one of the most tough point i ' ve ever performed in my life approximately that factor we'' re crying we state a little prayer you understand god please deal with you know grandfather during the surgical treatment you recognize give us the strength and you understand the courage to survive this and i hop in the auto drive over to tennessee get to the hospital he'' s in a coma for five weeks basically uh throughout this moment they wear'' t turn him in the bed sufficient they put on ' t tell me what to do i ' m there each and every single day 8 a.m they didn ' t stretch his arms as well as legs they didn ' t turn him in the bed so degeneration it set into his arms and his legs throat muscles as well couldn'' t talk couldn'' t consume couldn ' t drink after the coma had stage four bedsore in his coccyx which is the lower part of the back just a problem 64 years of ages and the part i was most distressed concerning was no one at that health center i was there every day 8 a.m every day on the dot no person informed me that i could be helping that i can be extending his arms and also legs that i could be providing him this sort of physical treatment i can be grabbing the bed sheets and also lifting them up and also transforming him onto a side every pair of hours maybe we could have stayed clear of all that he likewise endured hypoxia which is a lack of oxygen to the mind so long tale brief and as well as i'' ve turned this right into a lengthy tale however it'' s important due to the fact that it ' s important that you comprehend that i am why we do what we do as a firm and also obtaining back to what you stated mark oak harvest proceeds to constantly seems to be progressing to be growing to be improving and that is since the vision when i first began this firm was to be a company where if my grandparents when they had actually retired simple people fine they'' re not sophisticated they put on'' t understand finances they put on'' t understand cash i desired to be a firm where my grandparents could have gone through those doors with that said 2 million dollars rested across the table from somebody they unequivocally trusted that would always without an uncertainty watch out for their finest interest as well as placed a plan with each other that assisted them feel safe that shielded the money that they had functioned their entire life for offer it gave them a possibility to expand the money however my grandparents weren'' t threat takers they wouldn'' t have actually intended to take a great deal of threat they wanted it shielded and also they were delighted at 4 or five percent have a tax strategy i saw exactly how much cash was lost due to the fact that they had no tax plan regarding the the benefits that they might have taken um or the benefits they might have made the most of as well as just have an extensive plan yet even more importantly have actually a trusted companion as the years proceeded right into retirement that they can go as well as take a seat with and also they recognized that that person that knew far a lot more than they would certainly ever before know or ever liked understand that they would be watching out for them and they would certainly have that connection as well as aid them obtain via retirement which'' s why we started oak harvest economic group that'' s why we ' ve grown the company to to near 30 individuals today from the financial investment team to the preparation group to the tax obligation group to the experts we as you can tell are very confident what we do but however our greatest strength as well as our most important possession is the foundational concept in in the objective that i'' ve set which is to look after our clients like they'' re your parents or grandparents that ' s it that is what we do 1-800-822-6434-1800 give us a telephone call oakharvestfinancialgroup.com we anticipate collaborating with you in your retirement troy you stated a new publication and also you offer us yeah review yeah so i so this is what i do i did this with a youtube network i also do this with uh specific points that uh for me can be very easy to hesitate so i do enjoy writing however i have to break it down so i'' m i enter into things and i obtain right into them hard all right yet i'' ll obtain worn out also so i'' ve found out in time just i ' ve discovered myself so long tale brief i'' ve been informing people the book will certainly be done by the end of the year and also if i tell individuals i'' m mosting likely to do something i will certainly do it that ' s one of the points my grandfather absolutely taught you recognize your word is your honor you understand if you state you'' re mosting likely to do something you do it so i will certainly have it done by the end of the year it ' s going to need to go through manufacturing and also conformity and advertising etc we'' re going to have a nationwide book launch possibly around february hopefully i think perhaps march of following year so yeah it'' s mosting likely to be retired life 360
. it ' s going to be every little thing we talk regarding on the radio the youtube network condensed in an easy to check out style it'' s mosting likely to be developed to offer as much worth to you the viewers as possible whether you function with us or otherwise we want you to be a lot more educated more enlightened make better decisions as well as have a far better retirement so that is returning if you'' d like to talk with the group you you wish to take troy up on his deal no cost to come in and also see what troy and also the team create when it concerns your retired life 360 process 800-822-6434 is the number 800-822-6434 you can locate out extra on the web site oakharvestfinancialgroup.com and obviously the workplace located at 920 memorial cityway i10 as well as shelter hill and naturally you can always look for troy'' s youtube videos just look for troy sharp and oh karvas troy appreciated it delight in the remainder of the weekend break have a fantastic week we'' ll do it once more following week good noises good mark hit him well this weekend financial investment advisory services provided with oak harvest financial team llc okava'' s monetary team is an independent financial solutions company that aids individuals create retirement methods utilizing a variety of insurance policy as well as investment products investing involves danger consisting of the loss of major any kind of referrals to protection benefits or lifetime revenue usually referred to fixed insurance coverage products never ever securities or financial investment products insurance policy as well as annuity product warranties are backed by the monetary stamina as well as asserts paying ability of the providing insurance provider okarvis monetary team llc is not permitted to offer and also no declaration made during this program shall make up tax obligation or lawful advice you need to speak with a qualified expert prior to making any kind of choices about your individual circumstance we are not affiliated with the u.s federal government or any type of governmental firm this radio show is a paid placement [Songs] youRead More
have you ever wondered what does it look like if I were to go and work with a financial planner and how would that whole process work well today we're talking about implementation of the financial planning process in particular the one that we use and our goal is this by the end of the video you're going to have a very clear understanding of what it looks like to work with an advisor like with like us and how you would put all that into practice we hope you enjoy this episode to learn more about how to secure your retirement and all the different elements you need to know please subscribe to our Channel and hit the Bell so you'll be notified when we release episodes every Monday we have helped hundreds of our clients gain Clarity and get on the path to a great retirement now it's your turn let's dive in welcome to secure your retirement podcast we are excited today we are going to continue a conversation that we had last month we have our guests back with us we have Nick heimensen and Taylor Wolverton and we are going to break down the financial planning process part two so Morgan can you kind of bring us up to speed with where what what our episode today is going to be about sure so just to recap our last episode on the retirement planning process which if you didn't catch it it's episode 199 if you want to go back to watch it or you can also read it on the blog page but first of all we we talked about how to prepare for an introduction meeting with our team how you would uh gather the data and the accounts that you'd be submitting in regards to your assets your income information and your expense information to the extent that you're comfortable whatever you're comfortable submitting and that we're able to submit that securely and then in between that first visit and the second visit it's all us we do all the work so we prepare for the second meeting and then there we present you we walk through each step of retirement planning process and at the end of that meeting we can give you that information we can either print it out for you or send it over to you and then on the third visit that would be considered the strategy meeting we take some at the time and we come back for the third meeting which is all about the strategy we talked about the bucket sheet on the last episode and it really breaks everything down into three different buckets cash which is the amount that you that you're going to be holding some people that's going to be on a different Comfort level some people want to have a lot of cash and others don't then there's also the safety bucket which includes a few different products that will include safe and reliable income during retirement and then finally the third bucket is growth money that's in the growth buckets will grow during retirement due just what it says and then the funds in this bucket will be liquid but the goal is to avoid touching this money as much as possible so that will all be discussed during the third visit or the strategy meeting and then at this point of course when you decide to become a client how do we move forward after that Merce yeah so there's there's already been some time spent on both sides of the table the team has done some work to present uh the the client has taken some time out of their schedule to get to know us so now they know everything about us how we operate how do we take care of our clients a uh some form of a recommendation has been met made and now the client says guys I love everything I want to work with you and so Nick um there's obviously there's a bunch of different steps that we Implement especially in the first year to get everything transitioned and transferred over in a comfortable manner so what it what is Step number one after a client says yes I want to work with you guys yeah so step number one for us is is really getting together and figuring out what information do we have and what information white might we need to get all the paperwork together and all the data um to be able to fill in everything that we need to be able to open an account um the first step is putting together beneficiary information dates of birth um addresses phone numbers contact information making sure we have all of that information that pertains to the specific person and um getting that all that information together and creating an account so that process looks like basically us filling in this documentation with your personal information Charles Schwab requires all of the information that we ask for to be able to open that account in in the client's name um so from there once a lot of that paperwork is signed well typically that's when our team will take that paperwork and submit it to Charles Schwab um that process for them to open the account takes typically uh one to three business days depending on um depending on the type of account and how many accounts we're opening up and that's when transfers will take place that's when I will reach out on um on accounts being opened and making sure that everyone is easily able to access the account and figuring out making sure that they have the actual access on the website on the Charles Schwab app and making sure it's all set in stone so that you're comfortable and able to access the new account and what if your account is already with Charles Schwab what if you're already there if you're already with Charles Schwab that makes it um a whole lot easier so in the case that there um there's an already account at Charles Schwab it's a lot less documentation so they already have all that personal information so it's really one form to add peace of mind as being able to access the account um I'm sorry I just wanted to mention here real quick just so everybody who's listening because obviously there's there's people that might have Accounts at multiple locations just so they understand the structure of of this idea of Charles Schwab so Charles Schwab just everyone knows for us and for many people uh many advisors we don't work for Charles Schwab we're not connected to Charles Schwab when it comes to any kind of financial relationship they don't pay us we're not dictated by them they are simply a custodian and a custodian could be Fidelity it could be TD Ameritrade not very much longer because Charles Schwab bought them it could be Charles Schwab it could be Vanguard any place that you have your accounts our relationship though for us to have our custodian is with Charles Schwab so that's why Nick is saying we're going to get the accounts open there uh one other little caveat though that if you could just speak on uh Nick as far as what if somebody says hey I've got all these things do you have to sell everything that I've got over at Vanguard or sell everything I have over at Fidelity to get it to Charles Schwab mm-hmm so if someone asks that question the answer is no we don't have to sell anything um what happens is um that during the transfer process it's called in kind so all of the Securities all of the holding stocks bonds mutual funds or everything that is held at the other firm whether that be a TD Ameritrade a Fidelity a Vanguard that is all going to transfer in kind so exactly what it's currently in over to Charles Schwab and then Charles Schwab will hold those exact funds um over in the new account so nothing there changes until we come up with a strategy around the Investments and so that occurs afterwards yeah and I think that's important uh particularly on uh non-ira accounts where where a sale can result in a taxable impact so it makes it nice and easy for us as the advisor to bring the asset over without any taxable type of impact and then have a good conversation to evaluate a strategy around a potential liquidation strategy or a hold strategy or something like that so um because sometimes people worry about well do I have to sell everything and that's not the case uh Nick another common question that we do get is someone says hey I'm over at Vanguard and I want to work with you guys but I have you know I have a monthly distribution that's set up for a thousand dollars a month every single month or are you guys going to be able to replicate that for me yeah so in that case really it's just one additional form we can do the same exact thing over at Charles Schwab um and what it is is linking the bank account to the new Charles Schwab account um and so one additional form there will be able to have the your bank account linked to your Schwab account and then we'll also be able to set up recurring withdrawals or recurring distributions to your bank account um from your new Schwab account so exactly like it was at the other firm or at the other custodian it can be replicated right at Charles Schwab yeah so we've talked in in this is right here now so far Nick you've kind of explained this idea of somebody moving a brokerage account to a brokerage account meaning same account to same account or moving an IRA or a Roth IRA or anything like that a trust account we're moving all of those things and we talked about being able just to move that money electronically but the steps are just a little bit different for something that is what is called a a company plan make like a 401k 403 b 457 any of those kind of plans how how is that process just a little bit different than moving Ira to Ira yeah so in that scenario um we will have one less form so it won't be a transfer in this case if it's from a 401k what's going on is really we're calling over likely together to the 401K company and they are required they can't send anything electronically so they're required to um cut a check um for the benefit of um Charles Schwab or for two Charles Schwab for the benefit of you as the person who's the account owner um and so that check after the phone call is made is usually cut and sent either to your address um the person's address who's the account owner or we can send it straight to straw Schwab for them to deposit it right into your account and so the process is a little different there and it depends on typically how fast that that 401k company cuts the check um but in that case it's not electronic it's more of a physical check that's going either to your address or as the account owner or straight to Charles Schwab and I think something that's uh important to point out here is that anytime someone hears the word I'm getting a check uh and a lot of times it's 401K money that we're talking about 403b money that's talking we're talking about which is all pre-tax dollars and if it's done right which we always do it right if we're working together it's done as a trustee to trustee transfer transfer which is similar to a rollover all that to say it's that it's not a taxable event so even though there is a physical check that is mailed from your 401k plan if it's done properly it's not a taxable event so I think that's important to point out too so we've covered a lot there as far as the getting the accounts kind of set up and then we understand there's going to be more steps there as well but that process like you gave us a nice timeline there but there's another aspect of things than just the accounts there's kind of the things that we're going to help folks with on tax planning uh so so I'm gonna ask Taylor Taylor could you kind of walk us through what we're going to try to accomplish at least in the first few months uh when and what would be the steps for us to be able to do that analysis when it comes to taxes yeah so we'll want to start by collecting your most recent tax return that you have filed and we'll take a copy of that tax return and look over it for opportunities to do things like potentially Roth conversions if that's beneficial for your situation we'll do an analysis on that and we can have a conversation about the possibility of doing Roth conversions with you if it makes sense and then there's other tax planning strategies that we could use like if you qualify for qualified charitable distributions we can talk about that and help you set those types of transfers up and then also we could talk about in the way of charitable donations we could also set up a donor advice fund if that's something that you're interested in and something that would benefit your situation just looking for any opportunity to lower your taxable income and consequently lower the amount of taxes that you're going to pay in future years as part of your holistic financial plan in retirement yeah I think what's really nice about this this tax um scenario that we run through is that it gives us the ability to start playing around with your your your overall tax situation and and Taylor can go and manipulate the numbers and say Hey what if we did do a Roth conversion of 20 000 this year what's it really going to cost us or even as simple as sometimes and I think it when when we're talking about people that are withdrawing on their their IRAs and having cash flow coming in the door a lot of times we are using withholdings federal and state withholdings uh to start paying the taxes as we take those withdrawals and sometimes we're way off on our guess as to well how much should I withhold I think a lot of times when I'm talking to someone on the phone and setting this up they say well I have no idea just withhold something well with what what Taylor can do in this software is that we can actually kind of look at where are you falling in your tax bracket and then as some and and it gives us a much better idea rather than just taking a you know a guess in the dark as far as how much should I withhold we have numbers behind that again a simple conversation but it's a really nice um uh part of one of the tools that we have in place here yeah and just could you speak a little bit too about the idea because we talked about moving things in kind whether or not we would sell something that maybe had a gain or do a Roth conversion um of of how you look at this idea of especially for somebody who might be affected with any kind of Irma problems and explain what that means I'll let you handle the Irma part yeah so for our clients who are paying medicare premiums currently over the age of 65 or about to be eligible for Medicare that's something that we want to look at because once you're adjusting gross income goes over a certain level then there's possibilities where your medicare premiums can start increasing and so that's something that we're definitely looking for as well you can kind of look at it as an extra tax that you have to pay or extra medicare premiums so when we're looking at using these strategies especially Roth conversions where we're adding in taxable income in a certain year we want to make sure we're not pushing your income into a space where your medicare premiums are going to go up and it's going to negate the benefits of the Roth conversion so we're definitely looking at it's Irma irmaa which stands for income related monthly adjustment amount and that's related to medicare premiums so and I was really hoping I was like I said man if Morgan asked us what Irma stands for I said I'm going to be so nervous I was going to make up something really good but I'm glad you had the right answer there hey real quick uh oh go ahead go ahead sorry I was gonna say another thing I was going to add too just in the way of tax planning is that for our clients who work with us for our tax preparation services then we'll make sure you're onboarded with one of our CPAs that we work with and we can also help you gather the tax forms that you have for the accounts that we manage for you so making sure you're getting all of your 1099s that you need and not leaving out any of those documents so that you can get those over to your CPA and make sure that your return is filed on time so lots of moving parts that I'm just sitting here listening to it and um and it just makes me go wow this is a lot now I'm on this side and I can imagine a client who's on the other side and they're thinking man all this stuff is happening it's their life savings so Nick what is it that you try to do so that the client is not having to sit and worry has this been done yet is this moving where's this at in the whole process like what do you do to make sure that the client is completely understanding everything yeah so um what I try to do is is communicate as much as I can so whenever I have an update whether that's um an account has opened um I'm usually I'm typically sending out an email letting you know that um or giving you a call um so I'm making sure that you have access to that account and then after that I'm also what Charles Schwab does is they give us an estimated completion date for the transfer um and this is when it's going from another custodian to Charles Schwab um so in that case I will let you know when that is uh that transfer is expected to be completed and then when it's actually has been completed sometimes it's a day or two off and so I will let you know that either by phone or email and then answer any questions along the way whether that's personal information that you'd like to get added to the account getting logged in Where to view your accounts um where to see when the funds come in where to look for it um and then from the 401K process it looks a little different because we don't have an estimated completion date for that um but we do see if it the check has been sent straight to Charles Schwab we do see when they deposit it into the account and then I will be basically letting you know exactly when that happens um or if the check is going straight to your address we're typically communicating just to make sure that that gets put straight into your account so during the whole entire process from account opening from really signing the documentation to account opening to getting the funds moved we're communicating pretty frequently just to make sure that everything's in place set up and really helping you go through the process and then answering any questions for you hey merge could you I thank you so much Nick for explaining that and Taylor but so now here we are we've kind of gotten this this process started where the client is pretty much you know we've gotten the counts open we've gotten some tax information that we're looking at and analyzing and then our our next step once we've kind of are moving along this because we're trying to do piece by piece as we have what we have called because it typically works out that we can do it in this time frame we call it a 45-day meeting can you kind of just like maybe take a little bit Mercer and talk a little bit about that 45-day meeting and what that's designed for yeah so the 45-day meeting is ideally by then all the assets have transferred uh and we've got everything back in in-house in the sense of we've we have everything done from the moving part perspective and now we're getting back together for a couple different reasons one uh to answer any questions so just double take uh take a step and take some time to check in and say hey have you been able to log into Schwab are you able to see everything there have you gotten any mail from Schwab that you have questions on and just take some time to answer questions because it's for a lot of our clients it's a new custodian they use Fidelity for years they use Vanguard for years they were very comfortable with that setup and now they're looking at a different one while they are all very similar they all have their tiny little nuances so it's getting used to something different so we take time to do that the other part of what we're going to do is uh finalize if if there has is anything left to talk about on the investment strategy or deliver the rest of the investment strategy to them so Morgan mentioned the uh what we talked about in the last podcast around this topic was a bucket sheet it's not a technical technical term but we call it a little a bucket sheet that breaks down how we have allocated the accounts to cash safety and growth and so we're finalizing that and giving that to the client so they have a nice one-page document that says hey here's how things are laid out and and going over any questions around that another important piece that we do in this visit is at this point we know a lot about you and we know a lot about things that may or may not need to be updated one that is very common in this visit is we're starting the process for updating that estate Plan a state plan typically means we're either going down the path of setting up a brand new will which which comes with power of attorney documents HIPAA documents and and other important pieces there or we could be going down the route of setting up a trust for our clients all just depends on the conversations that we're having there and that that process we set it up uh because of our relationship with the partner firm we actually have the ability to take care of the cost of that for our clients and um and so that I would say is the next big step in a in a year-long process of getting things fully aligned as far as goals go as far as desires go that that setting up the estate plan is the next big step that we talk about in that 45-day meeting yeah so I think that uh you know at this point uh we've spent uh you know 20 minutes or so just kind of walking through all these different events that occur um but what we want to really have come across here is that uh the client the person that's that's doing this they don't they're not having to worry are these things being taken care of we have a great team here that's just really making sure all of these different things all these different moving parts are taken care of now I will tell you kind of as we close out just so you kind of know we understand this is a lot so the first year we're going to meet quite a bit more but then even ongoing we meet with our clients uh in the first part of the year uh we are going to meet uh all the to make sure that the financial plan is working properly that there if there's any tweaks that need to be done second part of the year is all about taxes and making sure that we're making that we are on the tax planning part of things so we want you to know that this process while it sounds a little bit daunting maybe uh it's not that bad it actually works very very smooth but you also get a sense of all the work that's going on behind the scenes so we hope this has been helpful just to kind of help you see how this whole process works um Morgan you did a great job of the opening and I was hoping you would have a lot of questions you guys are so good at explaining things thank you again Taylor and Nick for coming on and then and walking through all the things you do for us again we hope this has been helpful we know we went through a lot there's a Blog that's written on this that kind of lays all of these steps out so you can just go to our website which is pomwealth.net go to the blog page you'll see it all there uh super easy to be able to navigate thank you very much have a great day we'll talk to you again next Monday we hope this video has given you some confidence and clarity as you plan for a worry-free life in retirement but what else do you need we have created a complimentary video course called three keys to secure your retirement this video walks you through step by step what you need to do to get ready for retirement you can also check out our podcast called secure your retirement you can subscribe below for more retirement tips check out these videos also if you find them valuable please subscribe to our YouTube channel and give us a like
to make sure that'' s this one type of command.
that keeps appearing in action to my videos it'' s the whole oh you take care of.
rentals ah you'' re still working you ' re not retired or oh you make YouTube videos.
you'' re still working no you ' re not retired it ' s not such as the retirement police you know I. suggest clearly to these people around retirement strictly means no more working no more require to.
generate income and also for some surprisingly it'' s even age bound obviously to be retired I obtained ta be 60.
plus [Music] I imply to be sincere I believe this is simply a foolish argument over semiotics right because.
well you can call it whatever you like we'' re delighted living the means we live We'' re not gon na alter.
anything just because of YouTube comments right yet I likewise really feel obliged to point out that for.
these individuals believing retired life strictly implies no extra functioning normal earning money they''
re. in fact really mistaken it ' s a sight that ' s type of just separated from truth completely and also.
the most frightening thing is that if you stick to this belief you may never ever retire look I understand the.
origins of the suggestion that retirement equates to regular work I grew up because period as well that era where.
you will work 40 plus years in this one stable task retire at 65 and after that Tada Grand exit with.
this golden wall gold watch as well as your pension or you understand Singaporean case you know cpaf and afterwards.
off to the golf program you go now historically if you check out the context this was developed in the.
supposed gold years of the post-world War II full work right currently these days quite.
evident life work every little thing has substantially transformed considering that not least reason for Automation and.
digitalization work are no much longer the stable thing it used to be rather now it'' s very volatile.
I mean take a look at what took place during the pandemic and afterwards since the pandemic is over it'' s the. technology discharges as well as increasingly fantastic news with the breakthroughs in AI decreases are disappearing.
completely the middle course is vanishing they claim the abundant are getting richer the bad are.
getting poorer so job these days currently looks so various from what it used to be 30 years ago.
so why on Earth would any individual anticipate retirement to stay the like prior to I imply the fact.
is that it doesn'' t for one it ' s obtained'a whole lot much more pricey we ' re living
a lot longer these. days Medical Care has actually also obtained increasingly pricey housing prices maintain Climbing so expensive.
Climbing inflation not enough wage growth the amount of cash the specialists maintain claiming you need.
for a comfy retirement keeps Rising however allow'' s just take a reasonable number for the minimum.
advised amount of financial savings for retired life in the United States evidently that would have to do with 555 000 US.
bucks or 10 times the U.S mean earnings however then one more study reveals that typically retired people have.
simply somewhat over a hundred as well as seventy thousand bucks saved for retirement some retirees.
apparently just have absolutely nothing zero and even in Singapore one of the wealthiest countries in the.
globe over 60 percent of pre-retired singaporeans are stating they'' re out track to retired life. either so then what do you believe all these people across the world both pre-retirement and also already.
retired are doing so this is what they'' re doing this is simply what pops right up if you do.
a quick Google online incidentally according to Wikipedia everyone'' s default Expert.
on all points in deep space if you take a look at Wiki'' s page on retired life in the US as you mature you.
have 6 way of life options as well as out of the six 4 includes some type of work permanent or part-time.
the truth appears to be that whole lots of retirees are around side rushing or freelancing or setting.
as the end however as a brand-new chapter of Life thingy which entirely makes good sense right since we'' re all. living longer and also early retired life is obtaining a lot more preferred so retired life isn'' t simply that 5
to. 12 year period anymore yet possibly 20 to 40 plus years certainly most retired people aren'' t back to the. full time nine-to-five dissatisfied Daily Work there'' s many differing levels of job after retired life. there'' s like semi-retirement you understand going back to work part-time that'' s freelancing Consulting.
what some individuals call opportunistic functioning in some cases they just do stuff like offering.
or contributing any way they enjoy but appears like it'' s a standard that numerous retirees are.
out there working or making cash or simply getting this established routine in their retirement feeling.
purposeful engaged and also rather happy it'' s in fact a lot around just evolving past that stage in life.
where your work is so consolidated paying the cost of you and your family'' s presence that numerous.
individuals stick with doing bad work they actually do not like just to endure I believe that urging.
that retired life should be a Perpetual vacation without any type of work or making money whatsoever it'' s. actually just rather a naive idea that valued Timeless vacation vision is not even a lasting.
point in reality I indicate check out all the anecdotal evidence from all individuals out there you recognize.
they'' re stating that that Infinite getaway phase of retired life it really lasts practically one.
two years on ordinary Max prior to one obtains tired as well as dispirited which feeling of loss as well as being.
shed sets right in it'' s an entire cycle evidently you rest you obtain bored ultimately you discover.
brand-new Pursuits and also involvement money making or not and after that you get delighted once more up until the.
end to ensure that'' s the four stages of retired life so this man discusses it in this video clip it makes.
overall feeling you seem like you can check that out but essentially moral of the tale at whatever age.
or stage of Life maintaining active having objective and involvement an excellent regular feeling included.
really feeling financially protect it'' s healthy and balanced and also it makes people satisfied on the other hand if you.
remain to firmly insist retirement you should indicate no even more job ever before because that'' s just how you'believe
you ' ll. more than happy until your end although the evidence factors otherwise then you recognize that trashful.
amount of retirement cost savings is only ever going to keep moving continually greater as well as to hit it.
you'' re probably going to wind up functioning that additional much more years it'' s already taking place official.
retired life ages across the globe maintains boosting and state eventually happily you actually take care of to.
arrive you retire you'' re sigh greatly relax right into your beach chair and that dream.
come to life Perpetual trip circumstance and after that one two years later bam on time.
it'' s lost disaster as well as your sphere lonely shed maybe wondering where everything went pear-shaped.
You pedal through some more ears and also allow shed the bottom setting and also after that you'' ll locate on your own. perhaps aged 70 and yet lacked cost savings due to the fact that you didn'' t work right in between and also after that you.
finish up being one of those people around Googling how to locate a job at 70.
you really need to that'' s obtained ta suck so rather right here'' s my tip rather of clinging onto this.
outmoded idea of retired life I believe it'' s way extra productive to spend your time identifying what'' s. possible now for you and also your ability you might hang out reasoning of how you can potentially take.
control as well as redefine job as well as retirement in your life on your own because if you wear'' t job as well as. retired life is being redefined for you by culture and government anyway whether you like it or otherwise.
and after that you'' re simply going to be adhering to along you can consider how you can possibly decouple.
the job you do from the price of your existence as well as then perhaps even far better you can think of.
whether you can locate some means to decouple generating those presence calls from the direct.
input of your time and I assume this is all truly important if you wear'' t intend to be stuck on the.
grind till you'' re concerning like I don ' t understand 120 years of ages due to the fact that it'' s coming for everybody.
that time in your life where you can'' t make the exact same cash at your task as you could when you.
were more youthful or had even get a decent paying work whatever that might be when you require one since.
of like ageism and also all those things you understand most Monetary advice around they say that.
commonly for any of us to retire pleasantly we require about 75 to 80 percent of our pre-retirement.
revenue to proceed our current criterion of living so below'' s the circumstance when I was still.
in the workforce myself running that corporate hamster wheel so I worked I was so done busy.
simply functioning so I can hang on to that work it was my only resource of cash so my entire presence.
was you recognize dependent on that income and also as quickly as heck was not believing to myself regarding just how I.
can redefine work for myself or if someday if I quit working just how I can still produce 80 of.
that income monthly so my existence wouldn'' t have to considerably modify I mean sure you can do.
like what we did currently appropriate you recognize downgrade your way of living maybe relocate overseas to a less costly area.
end up being a lot less high upkeep in retired life so you put on'' t requirement 80 of your pre-retirement income.
Maybe you'' ll still require what 30 40 percent and also if right currently your only revenue generation.
is with that work that salary you got no Investments no various other abilities no side hustles.
no absolutely nothing when that job retires you at that obligatory age or because of some other circumstances.
God forbid then what are you mosting likely to do I believe that'' s the honest truth for many working.
grownups out there still particularly extra so if you actually obtained wed and begun popping out.
kids you understand time simply vaporizes extremely rapidly at this phase of life currently so I believe most of us.
require this tip you recognize to seek out from our service you know to check out the larger photo.
and attempt to regulate where we'' re all headed in the direction of if you'' re still seeing this video at this point.
then I wish this functions as that pointer for you anyhow if you'' re considering your ability collections.
and perhaps thinking of discovering brand-new ones you may want what today'' s video clip. sponsor skillshare needs to offer skillshare is an on the internet discovering neighborhood with thousands.
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you'' re lastly gon na explore new career or side rush choices or possibly deal with.
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enjoy being innovative in our retired life so we create a lot right we we prepare we do art we.
do ceramic and we additionally make videos on YouTube when we initially began skillshare was where.
we found out a lot of Essentials like videography narration as well as much more so today among the.
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from mistakes and enhancing all of us only live as soon as allow'' s attempt to do it the very best that we can by this.
point I'' m sure you ' ve got a great deal to say in action whether you assume what I'' ve simply claimed is all.
bollocks or if you 2 are searching for a better way of life layout after that this typical retirement.
version which I'' ve constantly located so disappointing well you can leave me remarks below and also we.
can review I hope you enjoyed this video as normal leave a like so with any luck even more people will.
see this and also subscribe if you intend to maintain with even more of this things thank you all once again.
and allow'' s chat once more next Saturday Cheerios.
since there are lots of individuals who leave retired life with a significant sense of relief and excitement you have your life back possibly they were shocked when a month or 6 months or a year or even much longer passed as well as they ultimately hit a wall for some it sneaks up faster as well as others it hits later and also harder which you get that sensation of fine so so currently what or the sensation like everything really feels a little uncontrollable although I'' m burnt out which is kind of an unusual association today we want to concentrate on exactly how to stop dullness in this stage of life dullness is the silent killer that can finish your retired life means prematurely if you start to let the days unfold with Lila or no planning you'' re going to locate on your own with idle time which can lead down a path of self-destruction or at a minimum feel lost and a little terrified concerning what the following 30 years of your life will certainly a lot more and there is dullness brings about isolation which results in a checklist of chronic diseases such as cardiovascular disease stress and anxiety clinical depression and even more today we'' re going to give you some easy Surefire actions to see to it this doesn'' t occur to you and you'' re going to finish this video recognizing that what you can anticipate and make a plan to prevent this biggest retired life Challenge as well as stay throughout where we'' re going to provide you three very easy actions to get better if you feel bored yet prior to we go any type of better we want to present ourselves my name is Mark Rollins and I'' m Jody Rollins and also we began retirement changed not only for us but additionally for you and the 10 000 people turning 65 every day currently we put on'' t focus on the economic elements of retirement however rather way of life Health and wellness connections as well as even more if you'' re new right here please strike the Subscribe switch as well as likewise the notice switch so you'' ll obtain informed when our video clips come out okay allow'' s enter it during your career or if you are a stay-at-home uh mom or papa you were busy ideal 40 to 60 hours a week and also you had an integrated schedule you did if you had kids then that was your timetable running them from location to place organizing being involved and also you had routines and also you had routines that were commonplace perhaps you stood up at 6 there was coffee you checked emails maybe had morning meal you did a little exercise that was what our early morning resembled but it was simply automated we didn'' t even assume regarding it we had to do that right and after that in the evening in the evening we would uh return uh open a bottle of red wine cook some dinner as well as put an additional bottle have one more container of a glass of wine watch some television and nearly hectic Beyond hectic in truth we made hectic a thing in our house yeah during the week it was it was type of Controlled Turmoil yeah so often it was just disorder weekends for us was remainder catching up doing chores doing washing going completely dry cleaners having a good time with buddies yet after that as well as they landed that'' s right you land in retired life as well as there'' s this massive alleviation that currently you ' re cost-free to commit and also do whatever you wish to do without a schedule as well as you'' re devoid of your from you ' re devoid of being Secured to your profession with all of those duties as well as time commitments that'' s right and it opens up I remember our initial Monday after retired life we retired at the end of 2018 on a Friday at three in the afternoon we went out of the office with our boxes with our boxes and also I remember that Monday the weekend break was type of great but I bear in mind Monday we still rose at 6 due to the fact that our bodies were used to it we still had the coffee we still viewed the information but after that we had a lot more coffee a lot more information as well as we claimed hi there we'' ve never actually had the ability to enjoy the early morning shows let'' s do that all of an abrupt it was 10 30 and also we ' re checking out each various other like now what do we do well and also after that if you consider it on that particular Monday where the blues were just starting to sink in we made a decision to shower and also pursue lunch right as well as what we didn'' t truly click right into was most restaurants were shut on Mondays that we would go to so we got back when we made a listing of duties we needed to do around the home well wait a 2nd what we were mosting likely to do you made a checklist of duties I required to do around your home which wasn'' t really fair but that ' s not true you wished to maintain me active well and afterwards Mark will certainly say points like let'' s go to Residence Depot and also prior to I understand it we'' re at like nine various other quits and also we finally get to Home Depot well we additionally chose let'' s start a Netflix series which we had never ever actually gotten into no so suddenly it'' s six o ' appear the afternoon and we hadn ' t done anything besides made a listing went to Home Depot watched 3 hours of television and also now it'' s time to prepare supper and also after that prior to we understood it Tuesday looked like that Wednesday appeared like that Thursday looked like that as well as Bam there we are with a board retirement which was humiliating to state boredom had actually established in and we we didn'' t also wish to state to every other but there it was best it existed so we got to function we did we dug ourselves out of that sensation as well as invested some real time in figuring out just how would certainly we fill our days you know perhaps you had a different experience due to the fact that there are lots of people that leave retired life with a big feeling of alleviation and exhilaration you have your life back maybe they were shocked when a month or six months or a year and even much longer passed and also they lastly struck a wall surface for some it approaches sooner and also others it hits later as well as harder as well as that you obtain that feeling of all right so so now what or the feeling like everything really feels a little unmanageable although I'' m burnt out which is kind of an odd association today we intend to concentrate on how to stop monotony in this stage of life so the initial thing you require to do is you require to do some preparation now I recognize I recognize what you'' re reasoning and also you'' ve heard us claim this before you'' ve heard us claim this before but there'' s no chance you experienced a 30 or 40 year career without intending so you require to prepare in retired life also due to the fact that you intend to intend on exactly how to load this brand-new located 40 plus hours of free time that come your means and it'' s mosting likely to ensure you contend least one task daily to look ahead to you understand it'' s additionally mosting likely to open up you know possibility for you to make some commitments yes you recognize we had a client Deborah that ended up making a commitment to her College roommates after she retired that she was going to do 52 brand-new things a year that was one brand-new point each week for a year in some cases alone in some cases with her good friends however that'' s the various other point concerning this stage publication sometime with your pals most likely to a health club play golf with a close friend simply go have a mug of coffee or take time for your companion Jody and I carve out a great deal of time throughout the week for each and every various other as well as I would certainly say likewise particularly as a prior recouping operating executive mom workaholic maybe you know sculpt time out for simply yourself what is it that you want to do yet once more by preparing you'' re mosting likely to open up your schedule and you'' re going to be able to make these commitments so morning time yeah our coffee we sit and also talk no TV we just it'' s funny since we enjoy we did the entire thing in the start with the Netflix series as well as binging we'' ve actually stepped far from television we put on'' t do it'that much if it ' s a stormy day as well as we get the desire possibly yet our coffee time is rather sacred I assume that'' s crucial it is and also you'recognize we don ' t even really turn on the information any longer since there ' s so many ways that we obtain news right so news comes at us via our phones and also our laptops and you recognize YouTube and all these various other people besides the planning that we do when we'' re having coffee we simply have great conversations we talk concerning the children and also things we'' re mosting likely to do or supper strategies or opportunities each people might have been offered for the week as well as we also speak about what we'' re happy for yep now a great deal of individuals say fine we heard you claim that however what do you fill your days with well we clearly have this company however you likewise require to discover something for for ourselves a leisure activity workout reading research study go to the collection when was the last time you remained in the collection and got lost in some research study on a hobby or a or anything that you wished to find out something concerning or hang out with a friend you know having an area in retired life is really vital I likewise think this is a wonderful time you recognize I recognize for me weekend breaks were full of tasks when I was functioning since that was the only time I had a possibility to do them however they were constantly the emergency chores well there are likewise chores that like type of overloaded me due to the fact that I had to get it all done now you know I can room out you recognize I can clean a wardrobe I can cleanse a cabinet I can organize part of the cellar I can take a lots of things to a charity you know so you recognize including a job or something like that to do every day really makes it a little bit extra fun and a whole lot much less stress you understand the other point that we'' ve found is that we retired with storage rooms loaded with job clothing that we haven'' t put on in years we'' ve already removed twice best truly give severe thought to removing your work garments to ensure that somebody else can wear them you understand I assume that'' s truly really crucial you recognize I believe'it ' s crucial to keep in mind that building each day with a plan begin with your plan it'' ll do marvels for your boredom it nearly negates the possibility for boredom to get in plus I assume it'' s fine at the end of the day when we ' re having supper whatever to examine in as well as see how did we do today right what was it what was the very best point that we did today and what are we expecting tomorrow right you recognize if you stick to this timetable with the early morning preparation making commitments as well as activities and loading your days placing in some down time also you'' ll really feel much less bored as well as much more excited regarding what tomorrow brings so the last thing we desire to show to you to see to it dullness does not sneak into your retired life is to secure your weekend breaks we did discuss that a little exactly how weekends were so essential to us throughout our profession however they'' re actually crucial currently also we truly like our weekend breaks we do and you recognize we we deal with that desire as well as we battle that wave and also we really deal with some clients on the reality that they say shouldn'' t everyday be a Saturday now that I ' m retired however our weekends we still do enjoyable weekend breaks ideal and also our reaction is no you understand shield your weekend Enjoy your weekend break still make Saturday Saturday plus you do intend to intend some points we did an additional video clip on this we desire you intend to plant some points so you know what day of the week it is appropriate you don'' t intend to just feel like everyday is a Saturday however we do certain points on Mondays and Wednesdays and also Fridays as well as all of that but the various other aspect of weekend breaks is a great deal of our buddies are more youthful as well as they still function right so we intend things to do on the weekend break with them because they'' re more readily available yeah I mean even if it'' s dinner out or a farmer'' s market or morning meal or you understand an excursion to a to a town nearby we prepare that on the weekends actually enjoying that weekend time you understand what you don'' t wish to do is be a weekend break homebody due to the fact that since there are groups you understand it'' s okay nowadays to venture out you know bring your very own crowd into the weekend break bring your very own energy into the weekend break so we'' re big follower of weekend breaks so make your weekends enjoyable okay we'' re at the end and we desired to offer you three actions to get unstuck if you seem like you'' re bored very first point is as quickly as you feel burnt out do something fun on your own do not rest there in your sadness work with the leisure activity review for an hour call a number of pals just get your phone as well as call your pals don'' t simply rest there and also lament that you'' re bored you know something very easy you can do is to simply activate some music loud music dance sing I like loud music Mark doesn'' t a lot however I transform on songs when I feel that boredom creeping in the 2nd point is spend time preparing a trip Fantasize a Little Google some fun puts pick some wonderful resorts or Resorts make it a task that when you have time you really feel that you can work on it obtain a folder include children wear'' t consist of children consist of one more pair talk to your partner where do you intend to go and also just how can you dream there'' s in fact science around the truth that you get better oh yes when you'' re planning a getaway in contrast to even just taking place the holiday so yes if you obtain better planning your day if you just sit there and intend your day even if you don'' t do whatever it gets interesting right all right ideal you'' re sensation tired below ' s the 3rd thing you can do leave your house and stroll fresh air if it'' s drizzling if it ' s snowy it doesn ' t issue gown for the weather most likely to a coastline as well as walk along the coastline or stroll in the in the timbers on a route the Japanese call that Woodland bathing if you'' re burnt out get out and also relocate you understand sensation bored is not a fellow feeling and also it'' s not an alternative for you in retirement if it continues for an extended period of time it can be incapacitating when it begins change and also do something to get you out of this funk currently if you wish to learn more concepts on having a good time in retired life check out this video right below we just posted a while earlier and also it provides you a great deal of fantastic ideas and if you appreciated this please show your friends and additionally please subscribe by clicking the Subscribe button listed below and also lastly join our cost-free Facebook Neighborhood the link is likewise in the notes listed below many thanks for being with us today and we'' ll be back once more soon
you know solo retirement can be tough and also we most definitely obtain that we'' re lucky because we have each other however we'' ve trained several solo retired people as well as have many pals that are thriving because space and also they'' re thriving because they ' re placing in the effort living a life alone can be hard and also retiring alone only compounds that sensation of maybe solitude throughout your occupation you recognize we all had integrated communities we had associates we had consumers all kinds of people in our life yet when you leave that behind you require to find methods to rebuild that area or develop a brand-new one as well as you know if you don'' t restore that neighborhood or locate new neighborhoods you may finish up on the slippery slope of being lonely you understand 12 million adults over the age of 65 actually live alone and that is 27 percent of the population the majority of them are women so you'' re not alone those numbers are surprising aren'' t they it actually is unbelievable when we located that out yet today we'' re going to walk you via 5 methods that you can build neighborhood and also grow in retirement as a solo retiree we did another video on solar retirement seven pointers to ward off isolation as well as we'' ll placed that link below yet today it'' s all up and positive and locating brand-new methods in which you can prosper as well as really today we'' re going to provide you our leading five i think uh leading five ways to flourish as a solo retiree as well as you understand it ' s funny we had the opportunity to fulfill to meet a woman in old saybrook really and also she was informing us exactly how she prospers as a solo retired person you recognize she was an ex-executive at a banks relocated far from where her task was i believe boston she did she had a fantastic profession bordered by a lot of individuals a great deal of community wound up choosing a gorgeous place in old say creek and came down as well as her initial 52 weeks of the year she made a selection and a powerful selection to do something brand-new weekly yeah she still 52 news she did treking cycling i don'' t know if she did basket weaving however i understand what possibly not yet she did she she called a friend for dinner she tried new dining establishments aware effort to do something brand-new something every huge or tiny every week kept the listing examined it off as she did it she did some points with the exact same pals like they did restaurants together however it really showed a significant dedication on her part to place herself out there to put herself out there to not just state well i'' m alone now and also i ' ll just be alone it takes work and also it takes effort but she'' s crushing it yeah so today we wish to speak to you a bit about some of the ideas that you can do to truly grow at in this time of your life you recognize the very first one and for those of you who have actually watched us prior to you might relax and also say below we go again but the initial one is practices and routines you recognize throughout your profession you had integrated routines in retired life you recognize you may be simple to glide right into sleeping a little late or waking up at different times or getting up and right away especially as a solo retired person you recognize transforming on the television simply so there'' s much more noise in your home and possibly seeing the information over and also over as well as over once again which we have done we have we did that during our profession but it'' s it ' s having different and also better habits and regimens are going to aid'you so right here ' s an idea it is a terrific system to begin rising at the same time each day so if you get up and also incidentally it doesn'' t need to be 4a no i ' m stating if you rise at 7 or 8 or 9 or 7 30 or 6 30 whatever pick a time so you know what tomorrow i'' m setting my alarm for 7 30.
if you obtain it prior to that great however if you wear'' t you begin rising each day at 7 30 as well as if that'' s a comfy time after that do that as well as the other point you require to combine keeping that is you require to get your seven or 8 hrs of sleep so you need to see to it you go to bed the evening before at a good time and at a constant time and also you do that really well you recognize after that when you have your time as well as you'' re prepared to get up for the day have a strategy as well as some discipline around your morning possibly claim to on your own i'' ll do one mug of coffee see a little bit of news and afterwards i'' m going for a stroll or i'' m going to work out'i ' m mosting likely to prepare my day i'' m going to call a close friend i ' m mosting likely to write in my journal but truly put some activity afterwards first mug of coffee or tea or whatever in fact the very first thing you need to do is drink a glass of water 8 ounces of water that'' s a great deal well but the idea right here is to obtain some regular regimen in area right um you know think of while you'' re having your coffee rather than watching television telephone call one of your children if you have children or call a friend but primarily we want to obtain you away from getting connected on tv for three or four hrs due to the fact that we have pals and clients that do that as well as it'' s a hard habit to damage right so to ensure that ' s the first one truly discovering that comfy time to wake as well as to go to bed as well as after that begin with some activity which leads really terrific right into the second one which is workout we can not emphasize enough just how much workout requires to be a component of your retired life for your wellness i know mark discussed that but this really requires to enter into your day-to-day regular and also your trip we state it once more due to the fact that solo individual it'' s tough though it is it ' s difficult to get on your own in your home what do you do it ' s self motivating you know and advising on your own that you deserve this you are worthy of to really feel well you deserve to feel the endorphins as well as the energy and you recognize can be as easy as signing up with a local gym or ymca or yeah because i imply i press yoga classes well you do and also and yoga exercise is excellent because you'' re in and out yet if you join the neighborhood ymca or a health club you recognize it'' s not that pricey as well as there are elderly price cuts however the important things is you can discover classes in there you can find area you can you recognize it'' s it ' s an actually great way to instantly have a brand-new neighborhood really feel better about on your own begin perhaps shedding weight that knows however if you'' re exercising daily you'' re simply gon na feel much better and also it'' s funny you state that i really think this phase of life for me as well as'i ' d be happy for individuals to leave remarks listed below yet it'' s less concerning losing the weight i seem like i lived my whole life this way this stage of life my exercise is for neighborhood as well as wellness and peace and self-motivated right it really feels very various to you rather than getting on a diet you'' re just on the rest of your life trip to feel excellent to really feel better to have to construct muscular tissue and also all of that so it'' s wonderful so the 3rd method solo retirement is to really think of locating a pastime a constant hobby that you can weave right into your week i understand we discuss this fairly a bit and you might claim to on your own i put on'' t have one but you know try this go through a neighborhood craft shop see if they have any kind of classes reflect in your life and also what were several of the leisure activities you liked but you didn'' t have time for i know for me it was repainting which we you have all the material as well you simply have we need to fit that in somehow i did constantly wish to repaint i did i did so you know registering for a painting course or even a food preparation class but below'' s the important things around leisure activity due to the fact that we hear people deal with this at all times you'' ve obtained to decide yes i'' m going to find a leisure activity and also be intentional regarding your search you recognize you remember how you just how you search for a job do you keep in mind just how tough you dealt with that job at the workplace treat this concept of locating a leisure activity simply like that treat it as a project you'' re not going to do it in 10 mins yet work on it everyday and if you desire find a friend and also state hi allow'' s start doing something with each other whether it'' s crafting or whatever yet deal with it with a good friend and put a strategy in area to keep servicing this ahead up with a hobby there are hobbies google uh most preferred leisure activities something will certainly pertain to you absolutely that you can get on the 4th idea to flourish as a solo retiree is volunteering i know you'' ve heard this from us before yet we want you to stop as well as really assume concerning this alright so rationale regarding volunteering is it gives you something to do and also you'' re assisting others however you likewise get something back if you think of some of the reasons that are vital to you whether it'' s politics we have a buddy that volunteers a great deal all over the nation to obtain prospects chosen that'' s what she does she services twitter for them for totally free and also she seems like she'' s doing something if you love kids you could review at the general public library or if you love pets volunteer at the neighborhood sanctuary i think an actually good point concerning discovering those points you feel truly highly concerning in this idea of creating neighborhood you are also placing on your own with people that really feel truly strong and also passionate about those exact same causes you understand possibly an illness is your enthusiasm you recognize the list can certainly go on and also on but just make the initiative as well as take the action to state yes i will try to find a company yeah you will certainly get instantaneous neighborhood the fifth suggestion how to flourish in solo retired life is to begin a book club or a conversation group and it'' s more difficult than you think well it is wear'' t say that lightly we tried it no well and we as well as we had some success a publication club a regular disc regular monthly discussion group or or i believe we discuss cooking you recognize we chatted about that as a method to do but start little get one friend meet them for coffee and claim hi this was enjoyable let'' s each bring another pal next month and also it doesn'' t simply have to be for coffee you could do it for dinner you understand i adhere to oprah'' s publication club and also reese witherspoon ' s book club as well as on facebook there'' s a huge team called renee'' s reviewing which is likewise an actually great book club it simply offers me inspiration to look for various authors and also to try to find things that could be truly fascinating to read and also you put on'' t need to purchase the publications you know your public libraries in each of the neighborhoods are still a wonderful source for current you recognize literary works without a doubt you understand in our retirement were since we'' re around during the day we'' re not in the office working i notice specifically in the early morning these teams of men having coffee and when we remained in florida over the wintertime i saw a whole lot of that and i stated to jody you understand possibly i'' ll do that so i began having breakfast with one buddy that i recognized from up up in New York City down in florida as well as we you know for a pair of months we had breakfast as well as we discussed connections we discussed we talked regarding publications talking about publications and also our children as well as we said well why put on'' t we why put on ' t we develop this out so the last time we fulfilled back in might we had um i think we had 12 guys at this breakfast as well as it'' s an immediate group and also we don'' t all settle on whatever yet we have neighborhood to share suggestions which actually actually has been helpful right you recognize the other thing that'' s kind of fun is occasionally after occasions morph after your book club you recognize like perhaps a couple of people then want to join you at a food preparation course or maybe a buddy of your own is an excellent cook and also will show the team so i think the suggestion is really simply putting on your own available yeah yeah currently um we did a video on how to make food preparation a lot more satisfying we'' ll placed that link listed below because food preparation actually is a terrific i'' d call it a leisure activity for us now right but how to make it more enjoyable to make sure that web link will will definitely be down listed below you recognize solo retirement can be difficult and we most definitely obtain that we'' re fortunate since we have each other however we'' ve coached lots of solo senior citizens and also have several buddies that are thriving because room and also they'' re growing because they'' re putting in the initiative they'' ve obtained their morning routines and also routines they volunteer they exercise each day they'' re living a satisfying meeting retirement and also you can actually do the exact same point also pay attention if you'' ve appreciated this please share with your pals and likewise please subscribe by clicking the subscribe switch many thanks for listening and also we expect being with you once again quicklyRead More
In 2015 451 thousand by 2050 this is a pew research study by the way 3.6 million individuals estimated to be over the age of 100. That'' s over a 500 000 or so change in an approximated finishing equilibrium and also a hundred thousand plus in additional taxes paid what'' s cool down around this software is it separates whatever else other than your distribution technique just how much are you taking from the individual retirement account how much are you taking from the non-ira are you doing any type of roth conversions so being able to isolate everything else as well as just looking at those variables reveals us very plainly that the tax obligation preparation and also revenue preparation part for this couple in this circumstance john and also jane is extremely essential it'' s the distinction separating every little thing else between ending up with regarding a hundred and also seventy thousand estimated or six hundred and sixty thousand so as you can see income intending tax obligation planning play a really vital part in the general retired life plan this software that we looked at over right here this one is assuming what we call a traditional wisdom circulation technique now this software program is that'' s the software application ' s weak point this does not do an excellent task tax preparation however when we overlay the tax preparation software application with the financial planning software application right here when we obtain the 87 percent and also we get it all done this obtains it up to 90 95 96 99 a great deal of times the large takeaway below is that retired life is not just regarding your investments it'' s concerning having a plan that looks at your investments and manages threat but also generating revenue tax obligation preparation as well as health treatment planning along with estate preparation estate planning is extremely vital if it matters to you what occurs to your possessions when you'' re gone so we constantly keep a web link in the summary if you want to get to out to us set an assessment have a phone telephone call and also see if this type of planning is suitable for you it might not be proper for you you may not be an excellent fit for what we do and also that'' s fine with any luck we still can offer value and aid you end up being a terrific have a higher understanding of retired life but if you do want to talk to us there'' s a web link below you can set up a consultation as well as of program share this video clip with a close friend or household participant hit that subscribe switch as well as thumbs up if you liked it as well as if you don'' t like it hit the thumbs down that'' s fine too as well as if you leave a remark we'' re gon na make an effort to deal with those remarks in one large video clip of course we can'' t react to every solitary comment or give individualized monetary guidance yet really feel totally free to comment listed below that helps you to understand that there'' s interaction with this video clip and they'' ll assistance share it with others so they can learn