Finishing Well: Level Up

Hi this Roy Jones man talk radio podcast are missing is to break down the walls of recent nomination, your chosen truth radio broadcast will be starting in just a few seconds. Thank you. This is the Truth Network welcome to finishing well brought to you by Cardinal guy, certified financial planner belonged to Schild, best-selling author and financial planner helping families finish well for over 40 years of finishing well will examine both biblical and practical knowledge to assist families in finishing well, including discussions on managing Medicare IRA long-term care life insurance and investments and taxes. Now let's get started. Finishing well, finishing well is a general discussion and education issues facing retirees guide.com no advisors on Schild CFP some insurance this show does not offer investment products or investment advice some really cool episode of finishing well today was certified financial planner or will: Mr. advisor Cardinal advisor and style as if he had one of our listeners write them a letter of Mr. Cardinal, advisor, or maybe somebody from your YouTube channel wasn't constant YouTube channel Mr. Cardinal advisor.

What I want to ask you in a very good way of being smart now.

I love it.

If that's exactly who you are, so that the neat thing about today's episode working to collect finishing well level is like anybody's ever played a video game knows that the ideas to level up or maybe in life.

The idea is to level up. If you listen to us many times you realize that we often talk about water seven worries or seven categories that we discussed and Hans going go and haul that in the minute. But it's interesting to me. I find it actually beautiful that God loves the cycle of seven for many people realize that the seven is a complete number like God finished making the world in seven days. What's really neat is there's a level up above seven and if you look at the hundred 19 Solomon is just a beautiful thing that King David wrote talking about what's the next level. After seven so if you look at the hundred 19 Psalm next time you look at it.

Look at the eight verse in each of the sections on each of the letters and see there is a chance to level up on the other seven and that level up is adding to start a divine quality, like this divinity that that's above everything else is about and finishing well today. Yes, we have the seven categories River talked about like we talked about here in a minute will go over those, but the beautiful thing is God's got in.

If you take that number eight and you turn it on its side and see its infinity and sources like here's the divine aspect. I've heard it put this way. I love the wages the Jews described this that we do everything we possibly can do in order to finish well.

But then God is the one that pushes you over the finish line with the stuff you didn't know you needed so leveling up today on finishing well sorted first to better these seven what we call seven worries only because we don't want you to worry about them okay but there are actually seven categories and Hans going describe those force so want to come here and picking congregants started looking at the taxes.

One is Medicare worker, not yet 65 but you're gonna retire or your spouse in the health insurance. I that would be health insurance or individual health insurance or continuing a cobra artist Medicare and how you supplemented. I sign up for how you receive it. The third one is long-term care and this is one that overlooked many times or if you met when I bring it up with a lot of denial and one talk about it but hope to have have a plan and to need long-term care where I want to receive that. How would I want to receive it for the fourth one is really a category all by itself is IRA and 401(k) and generally retirement money money that unless it's a raw money you have not paid taxes on yet.

You will so that has its own category because we really need to plan that money out in the special way we plan out the taxes.

We also plan out the distributions in such a way that you still have money left you or your spouse living near the 90 you need to make sure that that's going be long-lasting then retirement income, which is the whole area of living off your savings and the supplementary amount on top of social security and all the issues around that is really one and then the six is having to do with estate planning and life insurance is what happened to your after you passed away after you die, and most importantly, how is your spouse to be cared for and supported the view and then you pass away one of you passes away how how well is the one that lives on and be taken care of and I know that they're going to go from one post to cells. Check one and then the one is income taxes and I put that last because I don't like and financial planning to start with tax you do that if usually people start with your strongest case for taxes and they want to lower eliminate taxes and that it blinds you and many times is because you did make or investment decisions were financial planning decisions when you're so guided by tax like we don't bring it up in the issue of the other six, but we really have the category we bring it up last in the seven right and send it. The cool thing that is you point out in this YouTube video that that's actually coming out is that it's the combination of all these seven that drilling is opportunity for you to provide the guidance to help people to level up in general. In it seems almost obvious that the decision to delay and take.

Lady nearly that's the case so we go through in advance on people wishes their desire for money, but as soon as we arrive okay for a start. Because my spouse is then we got moved to the issue of taxes and yet we have how much taxes then you cancel your that's controlled by your other income now or in a couple three more categories of time you make a decision in one of the seven areas are one of the seven categories. It affects two or three other areas and we go over there and know that is in this area is affected not make smart decisions there and all mixed together like distraught. All these ingredients in the seven things around the wheel and what you is the client to live with the result. So I need to be a good a lot of things I like about this soup that the teacher describing insensitive subcategories of estate planning for some people you know they want the church to receive all the money. For example, an, and they may have another idea for the for the children for other people, you know they their children are the issue. But, in other words, the flavor soup that that you're stirring up has to do it outside of custom-made right. I try to get there early new client that I really wanted to find out I just tell people, story about other clients without so many of the people are like the most important thing is that I want my children to inherit the farm. This house work. I want this child to inherit that I want to leave this money and band is really the most important and most people a lot of time to listen to them, but then come with competing objectives as they need.

Some of this money sell so you got the people in Nola called a screen that the most important thing is when you have the people that are like okay so this money is for and for our retirement and for our living and then, but we still want something to go to market and then we want whatever flat land. The whole thing around that being of our people who really just want now takes over the you know we have different reasons for this, but I want to find all the early and then then I want to have a couple generally not the same places I have one of them, drawing their thoughts. Dan is a bully and I think I pick up the other one doesn't exactly agree with that, you know, a lot of them are more than the science but we need to arrive places that that place is different for a lot of people. That's part of the idea of leveling up has to do with that there an individual planet and having the experience. Obviously the gods given in working with so many different people in so many different areas and one of the things that I think is a highlight as people assume that your Centura CFP in a financial planner that really it starts there with how you're working on their investments and and that's really one small part of the equation. I will people think all I do it. I'm good at predicting the market not just to write.

I think that all we really do is manage money, manage risk and that kind of thing, to do and that's certainly one thing that we do and it might be that they have a large amount of savings that that's a very important thing that would be more like we can figure out what they need to live on one of taxes, how they want their healthcare take care of long-term care how we want to receive that at home or living place they want to be in what part of the all away around the wheel. There are so many decisions to make and then that Starscream demands on that money and then we start talking about what their money.

What can you afford to lose what what working you stomach losing because anytime work on for return. There's a possibility of loss and a lot of folks it seemed that in the last couple years with confidence concerns a Calvin and and all those kind of things. But the beauty of it bad that I've seen. As we talked about this over the couple years we been doing the show is that really figure out ways to to provide income without without the risk. It is a big part of what you do. And so that's why they call him Mr. Cardinal advisor because we want to remind you that the chefs brought deep but cardinal guy.com.

And of course Hans's book the complete cardinal guide to planning for living in retirement, which has the seven worries that were taken by that we don't want you to worry about. The categories were talking about today are all in his book the complete cardinal guide to planning is all very cardinal guy got.com and so we come back tomorrow, leveling up on well Hans and I would love to take our show on the road to your church and Sunday school Christian or civic group. Here's a chance for you to advance the kingdom through financial resources and leveraging Hans expertise and qualified charitable contributions veterans aid and attendance IRA Social Security care and long-term care.

Just go to cardinal guy.com and contact Tom to schedule a live recording of finishing well at your church, Sunday school or civic group contacts on cardinal guide back that's cardinal guide.com welcome back to finishing well today show, leveling up on the seven categories and seven worries that are in the Hans book the complete cardinal guide to planning for and living in retirement.

As we talked about. There is a place it's above all seven were trying to reach and that were to go back over the seven just get somebody else up to just tuning in those seven worries of the seven categories returned by the gospel story about what I put Scott's number one social security to Medicare. Three. Long-term care for IRA retirement plan, 401(k), etc. five retirement income retirement savings and investment. Number six is estate planning and life insurance number seven is income taxes for retired and I wrote the book really for me first mythic that's funny� True as I tend to be all over the place and have studied this stuff my whole life and so I get a conversation and beyond and it's all over the place to talk about all the subject and more that will and so I needed a track for me to run on about 10 years ago when I started writing a book writing the financial plan so I really came up with the seven worries seven categories just so I could be organized and I could have a checklist in my mind make sure I cover all 70 with all the people we talked about Social Security, Medicare, but that's only time income on Vanessa. People would think that's your main job description, but nonetheless, it still isn't an important category. People now have retirement 401(k) have world treat be a work for the school system or a hospital. They have IRA and they have many people have substantial money in those pensions and this used to be. This would work somewhere for a long time and then you retire and you reject in your pension and people back then really didn't have a lot wealthy people now average people have maritime substantial savings because they change jobs a few times or even if they work somewhere along time. They just built the big savings spell and now they get to retirement or their anticipating retirement or maybe there are a they do not necessarily want to do. First of all their thinking. It's just the investment that's what they been doing all along what I have invested much as I can to make me with her worried about is losing market correction.

Perhaps they feel like they're in the wrong things and invest in the wrong thing whatever reason, and so now more at retirement were adding to the fact that you make contributions every year. Write a check makes it look like the investment performance on that thing was better than you have investment performance and editions.

Now when you get retired and I will be adding still subject to market correction and then start withdrawing and letting them in your plan and that's one of the things that we do right and in actually rethinking in today's world for me personally, you know, when I look at retirement incomes, you know, I have no intention of stopping working yet. I do have intention of taking my Social Security and I do have intention of working on Medicare and so you know that that's really fits into this particular category as well been why.because of me when you get to 70 you're still working and then we start that largest social security check and then we also increase your spouse's. Check because it will be based upon your social courier half and then that can be so right off the bat. You can start saving more money at 70 unless it is time to start that I would be asking you as a financial planner when you want faithful you can come up with something. I think okay to start enjoying it again when you're kicking drank it well that question. I think it's so critical to so many things in life that we don't stop and ask the question why am I doing this.

What is the you know God, what are you want to see happen in this area you know is is you bring him along that you know from my standpoint in order to level up to get that divine push, we need to make sure he he he wanted to cross that finish line. I think in praying about my client. Over time, and one of them in the next week to week and then notes related. I need to call in the next week.

Just what was on my heart this morning is going over to see one of my long-time client and she had a lot of money with me and part of his IRA money. Part of it is not our money that she is able to accumulate an which is not happy about his. She doesn't seem to be making as much money as an she is 70 and that's really the question that came to my mind. I asked her with this money for Undersecretary cut no answer for a while with it really for me this is purely extra money because she's making a lot of money still work. I got on you as one of these people in her 70s is still working and making a lot of really get current leader to think about what money really for you and me. I don't know the organ arrived at a really good answer and I think we need to get there because you were not happy with the investment performance then because we clearly could give her more investment performance is by taking more risk, but I just don't think it's appropriate unless you fully understand what risk is and that is think it goes actually down so we have or investigator can serve and but I still think that we define real well with the money for me to her credit, which is really cool is she takes her minimum distribution every year and she does it is a PCD's church.

We help any substantial so we could to save a IRA is for the church and if we can arrive at that one and that I might even encourage or give more than the minimum you should now if she ultimately doesn't see the IRA for now and then a call for the money, that's not what that yet. We could end up with in a place where well when she's not working or she can't run it at some point. Maybe there is maybe shook it up and enumerating still be working and earning an income of that really then I guess this money is to give a gift, you might begin to the church but anyhow I just got put that on me this morning when I was thinking about her getting ready for the day that I really gotta focus on what my and when out that she's very fortunate that she has the money that she had the luxury of really defining the a lot of people is really easy. I mean with my money a minute for us to live on. Once I stop working or if I die is that simple.

This lady has a bit of a luxury with that which is the least confinement to do a good job and not what I love about the categories in seven categories that we talked about in every cell.

It is, is to an extent that was thing about this is seven days a week. You know how much work would we get done if we only work to write because we we left out all the other categories.

However, or if we left out the Sabbath and we never rested or sat there and analyze what all this is for you know which is, God had in mind on the Sabbath that they were missing the boat thereto, so combining these into making this soup hasn't to do with paying some attention to each of the categories correct all one and that people want me to come to me right now you doing planning for on the radio show, but I'm just thinking she has address long-term care yet your talking about before, but for some out and gotten done so, but I don't want to go in there calendar. You need to make this money for long-term care guy I really want to lead her to that on her own but will more often than we address that And then we got really where we may end up as on the estate plan, then it might not or anything for your lifestyle.

Then going to have the how can we make that happen later donated to the church. I know she likes this real encouragement. There that I don't want to describe this lady and no salvation or banter on any of those things really cool. Every year when we do talk about that next week the end that's what she does that every year which the whole idea to CD now involves at least three categories of taxes and at the same time. No estate planning in all it's really it's really beautiful thing is you begin to realize that these cycles are are softball something that's coming together to make this soup of finishing well and what would be like to have God push over the finish line in the way you never thought possible, which is an announcer that ate the level work or talk about today. Once again we want to point out you can get all that information on all seven categories seven worries and hunts his book the complete cardinal guide to planning for living in retirement as well as lots and lots of shows and videos that there are carnal guide.com YouTube channel is no by ORS 80 DIS, ORS 100 and some videos that are out there just thinking the radio show on any of the podcast at the passion. YouTube is really one of those videos just went over 130,000 views last night and it's only eight months old.

Pretty impressive how absolutely beautiful. Well, thanks again for listening you're so we really really appreciate you taking time with us and thank you hunts FAQ finishing well is a general discussion and education of the issues facing retirees cardinal guide.com cardinal advisors upon trial CFP some insurance this show does not offer investment products more investment advice. We hope you enjoyed finishing well brought you by cardinal guide.com visit cardinal guide.com for free downloads of the show or previous shows on topics such as Social Security, Medicare and IRAs, long-term care and life insurance, investments and taxes as well as constant best-selling book the complete cardinal guide to planning for and living in retirement and the workbook once again for dozens of free resources past shows when you get Hahn's book of cardinal guide.com if you have a question, comment or suggestion for future shows. Click on the finishing well radio show on the website and send us a word. Again, that's cardinal guide.com cardinal guide.com this is the Truth Network