11.11.22: Audio automatically transcribed by Sonix

11.11.22: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Producer:
Investment Advisory Services are offered through Foundations, Investment Advisors, LLC, Foundations and SECC Registered Investment Advisor. The content provided is intended for informational and educational purposes only. The views, statements and opinions expressed herein are those of the individual speakers and not necessarily those of foundations and its affiliates. The information contained herein does not constitute an offer to sell any securities or represent an express or implied opinion or endorsement of any specific investment opportunity offering or issuer. Any discussion of performance or returns is not indicative of future results. Each individual investor situation is different and any ideas provided may not be appropriate for your particular circumstances. Foundations only transacts business in states where it's properly registered or is excluded or exempted from registration requirements. Registration as an investment advisor is not an endorsement of the firm by securities regulators and does not mean the advisor has achieved a specific level of skill or ability. No legal or tax advice is provided. Always consult with a tax professional.

Producer:
Welcome to Rest Assured Retirement with your host, Jeff Holmes. Jeff is a licensed fiduciary and financial advisor who always places his client's needs first. Jeff works hard each day to educate Americans like you on how to reach the financial freedom they've worked so hard for. And he can help you too. So now let's start the show. Here's Jeff Holmes.

Jeff Holmes:
Welcome everyone to the Rest Assured Retirement show. I'm Jeff Holmes, a certified retirement counselor and certified financial fiduciary. And what all that means is I do retirement planning. I'm joined here by Matt McClure, our producer. Say hello, Matt. Hello, Matt. I love that.

Producer:
You know, I do what I can to bring the laughs on a Sunday afternoon.

Jeff Holmes:
Yes, exactly. Yeah. So as we are this, by the way, this is being prerecorded. So, yes, I did go to church and and we're probably having Sunday brunch like many of you are. So that's that's where we're at there. So we're glad you've joined us. And you probably either are out driving around, going to like a lot of people around here, they go to the grocery store or go to Lowe's or Home Depot, hopefully. Guys, I hope you're not going to Home Depot or Lowe's. I know what that means. And it's a four letter word called work. So that that's what that's all about. So if you would like to get in touch with us or set up that free consultation, you can book that complimentary consultation at Rest Assured Retirement dot com or you can and listen in obviously to our podcast on that website or wherever you listen to your podcast. Or if you just have some a few questions, you can call in at our number, which is 480 454 9191. So we love hearing from you so you can please give us a call and we'll go go from there and see what we can do to help you out.

Jeff Holmes:
Now, it is Medicare's annual enrollment period right now that started October 15th, going through December seven. So there's less than the month that remains in this year's enrollment period. And please let us know how we can help with your Medicare needs. We have an expert in house. Her name is Jesselyn, and she will go through and help you with your Medicare needs or you just need a second opinion to find out maybe what you don't know about those Medicare plans. And it's also very good to save money on that. So don't hesitate to give us a call today. So what we're going to go through the show this week is one that's near and dear to my heart. It's called the accumulation phase. And we are going to go through that. And it's a very important it is something that you understand is one of the most important things about retirement planning that is out there. So a little bit of an overview of what this be about. The what we're going to go through here is I'm so excited here math, I can't hardly go through it all.

Producer:
So I thought I thought it was the first day with a new tongue.

Jeff Holmes:
So here we go. Yeah, this is the overview. First off, we'll go through what we call an inflation demonstration. Food prices Update for Thanksgiving How to manage your accumulation Phase. Avoiding the number one mistake we see people make when preparing for retirement. And if you've been listening to the show, you'll have a good idea of what that could be. And one of our favorites is the quote of the week. And then cost cutter how to reduce your tax tax risk and kick the IRS out of your plan. Now, this is one we're going to spend a lot of time on this today. I've got a lot of notes here. I'll be going through some articles. If we don't make it through, we will continue on in the next show on the following Sunday. So first thing I want to go through here is full retirement plan consultations that we offer to all our listeners. And when I was teaching classes at different community colleges and universities, we provided these because obviously when we're going through this, it's more general in nature and it's a way to for you to find out specific things about your own retirement plan, get your questions answered. We provide these comprehensive consultations at no cost to our listeners, and there's absolutely no obligation. You will only work with us if we can do a better job for you. We will analyze your specific and unique situation and everyone's is that specific and unique. We will discover exactly how much you're paying in fees and help you cut unnecessary costs in your IRAs and 401. Case and other retirement savings accounts. So please get in touch with us. We'd love to answer your questions and your specific situation and help you maximize your Social Security benefits. And we went through that a little bit last week.

Producer:
Want to know where your hard earned money is going. It's time for an inflation demonstration.

Jeff Holmes:
This is one where you may want to be setting down for what is going on here. So there's a couple of articles, one from NBC News and the USA Today, the NBC News articles called Expect to pay a lot more for Thanksgiving this year thanks to food inflation. And the USA Today article is inflation and Thanksgiving. You can expect to pay for turkey and all the trimmings. So let's get into that a little bit. In September, the American Farm Bureau Federation announced that families can expect to pay record high prices at the grocery store for Turkey. So. And that ain't no turkey, folks. That's that's what that is. So the retail price for fresh, boneless, skinless turkey breast reached a record high of $6.70 per pound in September. That's 112% higher than than last year. At this same time, when prices were only at $3.16 per pound. And these articles go through. What foods have increased in price. And these are the largest annual increases ever. And that's something to keep in mind. Look for the sales. And some of the things that we found here is like butter and margarine is increased by 32%. And this is over the United States, any of you in the Phoenix area and Arizona. We have had higher inflation than what they're talking about here. I know that for a fact, because one of the areas is meats, poultry, fish and eggs, they say, has gone up 9%, according to the Consumer Price Index.

Jeff Holmes:
Of course, when I was going to the store and there was other guys that were and if you're a guy shopping at the story is kind of like search out and find it and get out, if you know what I mean. I see how fast you can get out of the store and got to the egg section. And there was three guys standing looking at the eggs and one just piped up and said, You have got to be kidding, because the eggs were in the seven and $8 range. And a year ago I know it was less than $3. So quite a bit of difference. So that was definitely is definitely been 100% increase in love stores. I've seen you've got all the flowers and mixes that are 24% increase of frozen bakery products is up 20% canned fruits is up 18.6%. Frozen vegetables is up 16%. So lots of increases there. And all these numbers have come from the Bureau of Labor. So they are average numbers. But of course, here in the Phoenix area, I think you're going to see higher numbers. So that's a little bit on. Now, just I know I just made your Sunday when you're going to the store here. And so like I say, I'd be looking for the the sales. So the first topic we're going to go through today is how to manage your accumulation phase.

Jeff Holmes:
Now, what does the accumulation mean? And I'm from New Mexico. For all of you from New Mexico, that's when you quit saving and start taking money out. So that's what that process is. You shift your focus from that, all those savings, and it's now time for your assets to generate necessary income that you will be needing in retirement. So a good example that came about in the article and this came from BlackRock. The name of the article is the Accumulation Challenges and Potential Solutions is they show people farming. They're basically developing, you know, all their plants or hoeing and setting up the garden or the farm, whatever the case may be. And there's a cash value contribution and a focus on asset growth and long term investment horizon. So how long does it take to plant the crop? Well, a lot less time than it does to grow the crop now. The next phase of that is getting down now. Coming from where I came from, they had always a. At the time where they had to do the harvest. And one of the things that happened during that harvest is they always hope for good weather. If it rained a lot. It is hard to get the equipment out into the the farm there and and and and harvest the crops. So very, very important that we have good weather through that time. Now, what happens during that time is there's a net cash drawdown.

Jeff Holmes:
Focus on your retirement return certainty and shorter investment horizon that you have. And the reason they say now there's a question here on this that you're probably asking yourself between accumulation and the cumulation and the long term investment horizon that you have in accumulation is obviously going to be 30 or 40 years. Now, why is it a shorter term investment horizon when you get into retirement? Simple question need to ask yourself. Why is that? Well, the main reason is because you're going to need to take money out in a very short time. And that's what that is all about. So it's a completely different situation when you are saving into your 41k or your retirement accounts. You did something that was called dollar cost averaging. And what that means is when you put the money in and you saw the market go up in value, you bought less shares. And when it went down, you found that you were buying more shares. So what happens in that situation? You will find that you have higher returns during the accumulation phase. Now, we'll be getting into the accumulation phase here right after the break. And remember, if you want to get in touch with us and set up that free consultation, please go to Rest Assured Retirement dot com or you can call in at 480 454 9191. And we'll be back in a few.

Producer:
You're listening to Rest Assured Retirement. To schedule your free no obligation consultation with Jeff visit restassuredretirement.com.

Jeff Holmes:
Hello, everyone. This is Jeff Holmes, certified retirement counselor and certified financial fiduciary. We just started our first section of the show today on how to manage your accumulation phase. We just went through the accumulation phase and how that works in reference to dollar cost averaging, which is a very great way to save for retirement. But when you're in retirement, dollar cost averaging can work against you. And how does that happen? Well, first off, if the market is going down and you're having to pull out the money at that point, you have. Two situations. One, the percentage that the market has gone down. Like, for instance, what we've seen here this year of around 20%. And let's say you're doing the good old 4% rule and pulling out 4%. Now, you have to ask yourself, are you down? Only 20%. Are you down 24%. So, yes, you're down 24% in one year. So that will raise a concern for many people. And the way that you pull money out of the market is very, very important. So getting back to the article that is from BlackRock, the accumulation challenges and potential solutions for that are the soaring number. Number of baby boomers entering and approaching retirement is leading to a major shift in the focus from accumulation to retirement savings to accumulation and retirement income. What's the problem here? Most of people are approaching retirement today and are uncertain how they will manage their retirement assets and generate consistent income without outliving their money, which, by the way, is the number one fear for most retirees. And they also say that a BlackRock survey found only 36% of Americans are confident they will have enough income.

Jeff Holmes:
They need in retirement, while 55% are concerned about outliving their savings and retirement. Without thoughtful, trusted guidance and planning. This could have a dire consequence for the next generation seeking income to sustain a consistent standard of living. So. For retirees today, living longer in a historically low interest environment. Obviously, we're seeing a change now. Could lead to a gap between your current savings that you can generate and retirement income that you need to live on. Now, are you going to be pulling money from bank accounts or are you going to be pulling money from. The market. That's where the question comes up. Retirees need retirement income solutions that can provide spending, confidence for essential spending needs and discretionary discretionary wants. And what discretionary means is something that is like a trip you want to take, go visit the grandkids, go visit the kids, those fun things that you want to enjoy and have a very nice lifestyle in retirement. All that you work so hard for, for all the years that you were working. Now most people you're wondering why Why are most people, 55%, concerned about outliving their savings? In retirement. Well, there's a software out there, and I have one of those softwares as an investment advisor. And what they do is they basically do something called the Monte Carlo simulation. Now. You have to think about that for a second. Where do they get the name Monte Carlo from? Yeah, I had a car loan.

Producer:
I had a friend who had a monte Carlo. I think it was a Chevrolet.

Jeff Holmes:
Oh, yeah? Yeah, that's. Maybe there was a risk to driving that vehicle. Right.

Producer:
I think maybe so. That may have been one of the ones that they had on. Was it Dateline or something? The exploding cars back in the day.

Jeff Holmes:
Not. Not good. Not good. So luckily enough, when I was working overseas, I did get to visit Monaco and Monte Carlo, and there was two things I noticed about that area. One is there are a lot of very expensive cars there, quite a few cars that are very expensive. And there were more than a few casinos. So the software that does these Monte Carlo simulations, that's where the name came from. So they will do things that they call a probability. And they'll typically use 95% probability of success in retirement. And one of the things that you have to ask yourself, I'm going to reframe this. You may want to just think of this a little differently. Just imagine you're getting on a flight. To go visit the grandkids or the kids or go visit some place you've never been. And. The pilot comes on and this is called Sleepless Nights, Retirement Airlines and Sleepless Night Retirement airlines. The pilot there says, okay, folks, we want to let you know we're going to run into some headwinds and two or three places along the way. And it looks like we have. And this is a little disclosure we want to let you know about that you have a 95% chance of us making it there. Unfortunately, there are no place to land and refuel. So that's where we're at. And my question is to you. How many of you are going to stay on that plane when there's a 5% chance it's not going to make it?

Producer:
I'm getting the heck out of Dodge myself.

Jeff Holmes:
How fast can we clear out that overhead bin with our luggage and out the door? That's exactly what you need to think about as far as your retirement. If you're getting a monte Carlo simulation, then you've got a 95% probability that's going to work for you. You also have to remember there's also a 5% chance it's definitely not going to work for you. So that's very important to remember when you're doing your planning for retirement. So what is the accumulation solution to all of this? Research from the Stanford Centre on Longevity looked at ways investors could potentially access and combine a mixture of investments and insurance products. Against different retirement income goals. They evaluated systematic withdrawal plans for investment portfolios and annuities against the following criteria. Amount of income, excess of savings, pre and post retirement protection. That's very important. We'll get into that more in a second. Inflation protection. And a lifetime guarantee. One of the key findings from this research was that from a purely financial perspective, annuities often provided a higher yearly income as compared to systematically withdrawing from investment assets. Just like we talked about before on the Monte Carlo simulation. Now you have to keep in mind that software may be not. It's not called that. And there's many ones that have different names that do that that they'll always find there's a probability of success. So what do you need to do in that situation is maybe look at something a little different where you can eliminate a probability of success and you may want to just go ahead and call in at 480 454 9191. And if you have any questions on this, feel free to also you call in or go to our website Rest Assured Retirement dot com and you can ask the question there or basically set up a free consultation be glad to go that through that with you so we'll be back in a few.

Producer:
You're listening to Rest Assured Retirement with Jeff Holmes visit restassuredretirement.com

Producer:
You're listening to Rest Assured Retirement.

Jeff Holmes:
Welcome back, everyone. This is Jeff Holmes with the Rest Assured Retirement. And so and I'm a certified financial fiduciary and certified retirement counselor. And I almost forgot what I was there for a second. So I my mind is racing through this accumulation solution. And that is like I'm saying, it's one of the things that excites me because I know there are solutions out there and I know there's people out there that could use them. And that's the purpose of this show, is to help other people also learn how they can have a safer flight, as we talked about in the last section there. So what's next here? What we're going to get into next is what we call the listener call out to what if you are in the retirement red zone now, what is the retirement red zone? It's a little different than the red zone. In football and football. You have the red zone and that's when the offense, the team that is on offense is within the 20 yard line from the end zone, and that means they're pretty close to scoring. And that's what that the red zone means there. And I know the cardinals have the red zone there in the stadium and that gives you an idea what that basically means as you're getting close.

Jeff Holmes:
And that is what the red retirement red zone is. And that's if you are within five years of retirement or that you have been retired for five years. So please call us so we can test the strength of your plan. And when you're going through that, have you when you've done your retirement planning, We just talked about the probability of success of retirement and using the Monte Carlo simulations that a lot of software out there uses, where your probability is always based on a 95% situation for success. So do you have have that type of planning going on right now? And if you do, has your planning giving you a stress test to if something doesn't work in the future? So it's very important that you go through the type of planning that does what we call a stress test. As an engineer years ago, what we did is when we were pouring concrete, we also poured a cylinder and then that was later tested at seven days and at 28 days to find its strength. If it failed, guess what? The concrete had to come up. Not a fun job if that was the case.

Jeff Holmes:
So you always knew that who was mixing the concrete was going to make that stronger than what the foundation needed to be, what the minimum requirements were. Have you done that for your retirement plan? Making sure it's better and will meet those needs. Have you looked at if you're married, one spouse or two pass away? How's your retirement look then? Have you looked at. Long term care situations that could happen. And have you looked at market downturns happening two or three times during retirement, maybe more? Have you looked at those situations? Have you stress tested your retirement versus doing the old way of doing the Monte Carlo simulation and expecting a 95% probability of success? Know it doesn't. That's the crazy thing about it. It doesn't even include that part of it. And that's the part that that analysis we did over the sleepless night airlines, you know, they basically could run out of fuel and you have a 95% chance of making it like we talked about in the earlier section there. And that didn't even include any mechanical failures. And that's what we're talking about there. That's how to reframe how you think about these things and how important they are.

Producer:
And now of awesome financial wisdom, it's time for the Quote of the Week.

Jeff Holmes:
Matt, if you'd be so kind to go through that, it's.

Producer:
Of course, of course, we love sharing these words of wisdom with everybody. And, you know, I always like sharing other people's words of wisdom because they're generally much more wise than I am to begin with. So here we go with the quote of the week this time around. And it comes from David Bailey, who said, quote, To get rich, you have to make money while you sleep. And I love that. And there are actually ways to do that. I at least I've heard I don't know for a fact myself, but I've heard.

Jeff Holmes:
Yes. And that's important. Keep your money working for you. Why you sleep is very important. So that's a great quote, as always. And what we're going to do now is we'll come back and we'll get into how not to make the number one mistake people make when planning for retirement. So we'll be back here in a few at the Rest Assured Retirement show.

Producer:
You're listening to Rest Assured Retirement

Producer:
Are you interested in protecting your assets from market volatility, rising taxes and economic uncertainty? Then tune in to Rest Assured Retirement with Jeff Holmes to learn how you can protect and grow your hard-earned money. Rest Assured Retirement Sundays at 1:00 PM right here on 960. The Patriot. Protect your hard-earned money today and schedule a free no-obligation consultation now at restassuredretirement.com

Jeff Holmes:
Welcome back, everyone. This is Jeff Holmes at the Rest Assured Retirement Radio. And I'm a certified financial fiduciary a certified retirement counselor. And what we're doing today is we're talking about the topic of accumulation. Our next section is don't make the number one mistake people make when planning for retirement. Very important one. Too many people believe retirement is about accumulation and saving enough money to reach that one big magic number. And you have to ask yourself, how many times have you seen a commercial on that very subject from more than one company?

Producer:
Yeah. Then there was a famous one, right where they're like walking around and the their numbers like floating over people's heads as they walk by. That's the one that comes to my mind.

Jeff Holmes:
Yes. Yeah. So like a lot of things that TV does, which is kind of crazy, this comes to mind that you have been programmed, by the way, from those many commercials because you I mean, how many times you see a commercial during a game you're watching or and those are those are one of the sponsors. They're you. I can't count how many times I've seen that. And they're talking about that one big magic number. Well, guess what? There is no one big magic number, of course. Well, maybe there is. And there was a quote by Groucho Marx, basically relating to money doesn't make everyone happy, but it sure makes misery a lot better off. And that's that's not the exact quote that Groucho came up with, but that's basically what he said. And and the thing about Groucho Marx, he's very, very wise and a lot of his comments there.

Producer:
So it's very true.

Jeff Holmes:
Now, we recommend that you start focusing more on the strength of your. Plan in the size of your nest egg. Lifestyle is more about income than total assets. And that is a very, very true statement. People have come in the door to our office and they have been told by another advisor using the 4% plan and the Monte Carlo simulation analysis that this is all they can retire on. And they're going, that's not enough. We're going to have to work longer. Well. When you get shown how to set up a proper retirement income plan. But many of those people found is that, oh, we can retire right now. And it's going to be way more successful than where we're at. And that is why we offer the free consultation. And. Answer questions that may be relating to your retirement plan. Obviously, if you need those questions answered, go to 480 454 9191 and call in and we'll be glad to answer any of those questions you may have. Now, the next section I'd like to go through is the part that was mentioned in the article that we went through here from BlackRock and they mentioned annuities and they found that that was a good solution. Now when you get into annuities, there's going to be some confusion if you've never had an annuity and even if you may have an annuity.

Jeff Holmes:
There still may be some confusion because what you have is what you think everyone has. And I've seen that over and over again. Now, the different types of annuities that are out there and I'm going to go through those. First off, you have variable annuities. Those tend to be linked, tend to have high fees, I should say, and linked more than linked in the market. And those annuities can lose money. So what's the difference between that and having all your money in the market? In almost all cases, the only difference is, is your money may be growing tax deferred and it may have some other options. But they are very, very expensive in most cases. There's also immediate annuities, and single premium annuities aren't the best option either for growing your money. Actually, there is really no growth, hardly any growth to those, because what they do is they focus on paying you your money back. And what many pensions are based on is. These types of annuities, the older types of pensions that people could live on, they knew the money was going to last happen to be coming from annuity backed pensions. So that is how those work.

Jeff Holmes:
So what other options do you have? There's also deferred income annuities. There's also something called a fixed annuity, which is like a CD with an insurance company. And then there's also fixed indexed annuity annuities that are out there. And if you plus if you plan to invest in a series of annuities, we recommend that you look at the fixed indexed annuities because those are linked to a market and will give you a reasonable rate of return to help you keep up with inflation and the rising cost of living. And they will also have something called an income rider which can provide you income. So they are kind of like a Swiss army knife, you know, where they have all these different tools that you can use within one product. So those are very good solution for maybe the annuity side of a retirement plan. And that's if you depending on your situation that you and whether you have annuities already or not or have pensions, these may work for you. So very important to take a good hard look at that and understand the pluses and minuses behind all annuities and understand how they work. And we have a very simple way to show you that where it makes it much easier to understand.

Producer:
Here's the cost cutter of the week.

Jeff Holmes:
As far as the cost cutter thought of the day to day is implemented. Roth Conversion to reduce your test tax Risk saving on taxes by deleting the IRS as the partner during your retirement years. And that's the question you have to ask yourself about your IRA or your 401. K, who is your partner on that? And it's not anyone in your household. It is your friends at the at the IRS because they're going to become wanting their money and they have changed the. Time when you're required to take money out from your traditional IRAs, your 401. Case, those types of thing, thanks to age 72. And everybody thinks, well, that's great. We can wait. But when they change those regulations in their favor or your favor. You have to always ask yourself that question. So is waiting at age 72 of y situation tax wise, if you have all of your money in IRAs and for one case, you may want to know that. Also, if you qualify for setting up a Roth IRA by using after tax dollars and are moving some of your traditional IRA into a Roth IRA may be a great way to go that way. That plan provides tax free income and growth within the account that is also tax free. A Roth ladder conversion is a conversion where the funds from the IRA go to your Roth IRA over a period of multiple years in hopes of reducing the amount of taxes you pay on each conversion. If latter correctly, and this is a key term here correctly, IRA owners can keep their tax rate at or below 25% in most cases and dramatically reduce the taxes they will pay over 30 plus years. The question is all of this is do you think taxes are going to stay the same or go up in the future?

Producer:
You know the answer to that one. That's what everybody says. Hey, they're going up.

Jeff Holmes:
Yeah, yeah, yeah. 31 trillion in debt. I wonder if they're going to be going up. So do you love the RS so much you're willing to give them more of your time and dollars potentially than you give to your own children, our grandkids? Please don't underestimate the importance of having some tax planning for your retirement plan and you can get in touch with us and we can start helping you with this on your own plan today. So what happens when you do call in and go through that free consultation? What are some of the things that will be provided? One is a retirement income gap analysis. Have you ever done that? Financial plan to you and your spouse is 9500 year. Old birthday, whichever you prefer. We like to go to age 100 because people are living longer. And I always have people that will come in say, I'm going to live to 85. Well, they show up in their 87. They said, I never thought I'd make it this long. So just imagine planning to run out of money and using your last dollar at 85 may not have worked out real well there. So consider your longevity risk, how long you plan to live. No one knows. So you need to plan on living longer. It's better to have it and not need it and need it and not have it. Okay.

Jeff Holmes:
Hope you understand that one. A tax efficient plan for withdrawals from the retirement nest egg. We can set you your savings correctly with whatever needs to be happening there. There's many different ways to do that. You can do it through life insurance or Roth ladder conversion or both. We provide a Social Security maximization plan that includes a break even analysis and shows you the benefit of waiting to age 70 or maybe taking it out earlier, depending on your situation. Now, we believe this is a smart idea because market conditions cannot guarantee 8% growth, which is what you get by delaying your Social Security between your full retirement age and age 70. That's a nice increase, and I've never seen anything that does that. An 8% growth per year other than Social Security, which actually works like a an income from an annuity. So very important to realize that that is some of the things that we need to look at as far as that consultation. Of course, you can call us at 480 454 9191 or go to Rest Assured Retirement dot com and set up that free consultation. We'll be glad to go through that with you. Now we're getting into the end of the show here, and we have a very interesting week in history this week. And the first one is on November 11th. That one is November 11th this year.

Producer:
November 11th. Let's see what's today. Sunday. November 11th. Was this past Friday?

Jeff Holmes:
Yes, that's right. That was. Veterans Day, of course. Yes. And on that day, 1918, World War One came to an end. Thank God. Because an estimated 9 million people were killed, marking it as the deadliest conflict in history. Huge number. The war officially came to an end. And this is interesting. At 11:00 am, on the 11th hour, on the 11th day of the 11th month. So Veterans Day is a very special day. Be sure and thank all those that have served our country. And obviously, a lot of people lost their life for our freedom. Very important day. Now, another historical moment. November 12th is on this date. In 1954, Ellis Island closed its doors and Ellis Island was considered many to the gateway to America. The island was closed after processing 12 million immigrants into the United States. Now. I used to think that was a large number. Until we see what's going on in our country today as far as number of people coming into our country now, this was legal immigration. Big difference. During its busiest year of operation in 1907, Ellis Island saw 1 million people processed into America. Pretty large number. Close to 40% of all current US citizens can trace at least one of their ancestors to Ellis Island. A few notable people who have passed through Ellis Island include psychologist Karl Young and Sigmund Freud, as well as silent film star and comedian Charlie Chaplin. So a little bit some tidbits there to finish up our show today. Glad you're with us and have a great rest of your Sunday as we sign up.

Producer:
Thanks for listening to Rest Assured Retirement, you deserve to work with an experienced and licensed expert who will strategically work to protect and grow your hard-earned assets. To schedule your free no obligation consultation with Jeff. Visit RestAssuredRetirement.com Or pick up the phone and call 480 305 5661.

Producer:
Assured Financial is an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom-suit their needs and objectives. This material has been prepared for informational and educational purposes only and is not intended to provide and should not be relied upon for accounting, legal tax or investment advice. Advisory services are offered through foundations Investment advisors and says. Registered Investment Advisor Certified Financial Fiduciary. Cff is issued by the National Association of Certified Financial Fiduciaries. Cff is reserved for financial professionals who have successfully completed a certification and training process established by the NACFF and the AFIA.

Producer:
A Roth conversion may not be suitable for your situation. The primary goal in converting retirement assets into a Roth IRA is to reduce the future tax liability on the distributions you take in retirement or on the distributions of your beneficiaries. The information provided is to help you determine whether or not a Roth IRA conversion may be appropriate for your particular circumstances. Please review your retirement savings tax and legacy planning strategies with your legal or tax advisor. To be sure, a Roth IRA conversion fits into your planning strategies. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not in any way refer to investment advisory products, rates and guarantees provided by insurance products and annuities are subject to the financial strength of the issuing insurance company, not guaranteed by any bank or the FDIC.

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