Retire Overseas: Cost, Culture, and Considerations

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Have you ever thought about living somewhere else

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in the world in your retirement?

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Where should you live?

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Let's talk about that on this Something More

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with Chris Boyd.

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Welcome to Something More with Chris Boyd.

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Chris Boyd is a certified financial planner, practitioner,

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and senior vice president and financial advisor at

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Wealth Enhancement Group, one of the nation's largest

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registered investment advisors.

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We call it Something More because we'd like

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to talk not only about those important dollar

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and cents issues, but also the quality of

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life issues that make the money matters matter.

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Here he is, your fulfillment facilitator, your partner

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in prosperity, advising clients on Cape Cod and

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across the country.

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Here's your host, Jay Christopher Boyd.

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Welcome to Something More with Chris Boyd.

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I'm Chris Boyd, and I'm here with Russ

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Ball.

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We are both of the AMR team with

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Wealth Enhancement.

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Glad to have you with us.

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I came across an article over the last

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few weeks with the topic of the best

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global retirement havens for Americans in 2026.

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It caught my eye.

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I thought, would I want to live there?

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Some of these choices, and then other ones.

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I was like, I might want to live

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there.

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I thought it might be a fun topic,

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capture the imagination as we think about where

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would you want to live as you think

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about all these interesting places around the world?

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Where is there a good cost of living

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trade-off?

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There might be some financial incentive, and how

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does it work for a visa and so

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forth?

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Is it good healthcare?

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I don't know.

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What are the things you might think about?

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This article, by the way, we'll have it

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in the show notes, might be a good

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resource to look at, but a lot to

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think about.

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I thought it was a fun subject to

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tackle as we start a new year again

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and thinking about planning.

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Let your imagination wander.

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What would you want?

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What excites you about the future?

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Maybe it's foreign travel or living somewhere else.

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For some people, that might have no appeal.

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It might be something else, but whatever it

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is that gets you excited about the future,

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this is a time to be thinking about

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planning and preparing.

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This might be one of those things that

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helps motivate you as you plan for tomorrow.

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Maybe you're in that stage of life where

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this could be your today.

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Some things that might be helpful to think

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about.

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Where should we begin, Russ?

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Do you have a thought?

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This list that you found is pretty interesting.

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Why don't we go through the list and

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tell everyone what their choice of the top

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10 locations around the world that might be

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of interest to Americans to live in other

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locations.

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You want to just rattle off the list

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a little bit?

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Sure.

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I don't know what the order here is

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or if it's just random.

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I don't think it's a Dave Letterman thing

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where we go number 10, number one choice.

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I mean, we could do that.

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I'll just start rattling them off.

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Greece, Panama, Costa Rica, Portugal, Mexico, Italy,

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France, Spain, Thailand, and Malaysia.

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Interesting.

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I think one thing I sense a theme

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through these is largely warm climates.

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You think of Greece, you think of white

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sandy beaches, maybe.

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I don't think I want to head straight

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to Athens, though, maybe.

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I guess it depends on where you're thinking.

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Right.

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Now, that personally doesn't appeal to me as

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a place to live, but it'd be a

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fun place to visit, I think.

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One of the things that this article gave

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thought to were a variety of considerations.

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Among them were the cost of living.

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All of these, maybe not all, several of

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these, one of the variables that were attractive

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about it was, was it more affordable to

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be able to live in these destinations?

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Of the first several, I don't think I'm

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eager.

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I'm just going to voice my own opinion.

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You can talk about your opinion.

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I would like to visit Greece, Panama, Costa

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Rica.

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These are all places I'd like to visit.

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I'm not sure whether I'd want to live

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there.

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Of course, I haven't been to these places

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yet.

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That might be a factor in my thinking.

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I've been to Portugal, and I found that

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to be a very hospitable destination.

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I gather there are a lot of Americans

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making their way to retire in Portugal.

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I think they've made it very appealing to

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make it manageable.

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Mexico, interestingly, is another destination.

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I remember talking with a Holy Cross alum

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who lived in Mexico in his retirement, an

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attorney.

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It does not appeal to me at all.

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I think it's, again, it's a matter of

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where you might be that you think of

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as where would I want to be.

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Because I think of Mexico, I think, oh,

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would I be safe?

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That kind of thing.

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Whereas, maybe if you know where in Mexico,

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you might have a different view of that

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sort of thing, right?

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Italy sounds appealing.

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I don't think I'd be very healthy there

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because I'd probably eat so much.

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But also, and the wine, right?

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You think of Italy as all these great

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food and drink, but also the culture.

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I could see the appeal of that.

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France, same thing.

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Lots of food, lots of drink.

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Sounds pretty good.

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Spain, I haven't been there.

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I'd like to investigate Spain.

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Thailand, that's a destination I'd like to visit.

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I'm not sure about living there, though.

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Some of these places, like I know Portugal,

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it was very easy to speak English and

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find people who communicate effectively.

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I think you'd have that in places like

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Panama and Costa Rica as well.

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I assume Mexico.

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But, you know, I don't know.

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Would Thailand or Malaysia be as much that

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way?

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Well, you might have to stretch yourself a

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little and learn a different language.

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Yeah, well, I think that's probably true of

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anywhere you live with a different language.

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You'd have to become more adept at the

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local language, which could be fun, too.

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But what would you focus on?

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I mean, I was pretty surprised to see

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France and Italy on here.

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I wouldn't have thought of those as, you

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know, like cost-effective destinations.

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Well, I think they're saying in more rural

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areas.

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You know, with like France, they specifically said

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in more rural parts of the countryside, perhaps.

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But I mean, that sounds great.

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I don't know that you're going to live

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in Paris and find that.

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But yeah, that does sound pretty nice.

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Wine country in France?

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That sounds pretty good.

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Yeah, I could live with that.

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Bordeaux or something, yeah.

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And the other piece, I mean, I think

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of some of these like, yeah, for example,

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Mexico.

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You know, my fiance's family is from Mexico

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and your retirement dollar can go a lot

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further.

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Well, that's a great point.

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Yeah, in a country like Mexico, where the

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cost of living is just significantly less.

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And some of these on the list have

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significantly lower cost of living.

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And that was one of the points of

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the article, right?

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So yeah, that was kind of interesting.

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I mean, Thailand, for example, extremely low cost

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of living.

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Yeah.

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Well, that's the end of some fabulous beaches

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in Thailand, too.

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I don't know if you've heard that.

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Yeah, but let's just go through this.

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Greece, they said lower cost of living.

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Housing is affordable.

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When it came to health care, private insurance

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for two people around $300.

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Wow.

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I mean, imagine that here, right?

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The costs are much different.

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One of the things you have to think

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about here is the challenges of residency.

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There's different rules in every country as to

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how that works.

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So I don't think we'll get into a

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great deal of depth on that here.

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The article is very helpful, though, in kind

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of paring out some of the issues to

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consider.

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With Panama, they said it's about 60%

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less than the cost of living in the

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United States.

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Wow.

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That's pretty meaningful, as you were saying, with

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perhaps Mexico also very low.

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And some familiar stores, I said, like some

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of the things, you know, Walmart, Costco.

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That's funny.

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Costa Rica, moderate cost of living and potential

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property rights.

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So you could essentially own property there.

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Let's see, they have and they said they

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have a very good health care system.

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I think that's a theme that keeps popping

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up right in this list is the cost

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of health care being relatively affordable compared to

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health care needs potentially in the United States.

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Well, you don't know what the quality of

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care is.

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We tend to complain about our health care

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system a lot.

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And yet it is also one of the

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best health care systems in the world.

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So it's a challenge to maybe as you

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think about in retirement, because these are retirement

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destinations.

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Health care is one of those things you

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do have to give some consideration to what

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would be the quality and benefit.

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Certainly it's a cost, but how will you

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be cared for?

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And just because the costs are lower in

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a different country might mean you have to

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wait to get that health care.

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Yeah, exactly.

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Something to that effect.

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Yeah, exactly right.

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So that can be a challenge.

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On the other hand, in other parts of

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the world, sometimes the health care system is

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much more affordable in terms of the way

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it's structured or built into their tax system.

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In any case, I think that was kind

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of the theme of most of these locations

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was that you could potentially find places where

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the cost of living could be notably lower

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than what we might typically find in the

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United States.

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Not necessarily in all parts of these countries,

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as you pointed out, in like France, maybe

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it's in Spain, you might not always find

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that it's the cheapest.

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Not across the board.

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But it depends on what you're doing.

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But in any event, I found this really

276
00:11:50,410 --> 00:11:52,190
interesting because it was a good way to

277
00:11:52,190 --> 00:11:57,630
think about you've got cost of living, health

278
00:11:57,630 --> 00:12:01,010
care considerations, and what's required of you.

279
00:12:01,110 --> 00:12:05,650
What's the ease of the visa process?

280
00:12:07,210 --> 00:12:08,830
So it was a good article to think

281
00:12:08,830 --> 00:12:09,150
about.

282
00:12:09,690 --> 00:12:13,250
Big picture, if you're thinking of living overseas,

283
00:12:13,250 --> 00:12:15,770
there's a lot of variables to think about.

284
00:12:17,420 --> 00:12:21,190
I think we hear people who are politically

285
00:12:21,190 --> 00:12:25,610
disgruntled say, that's it, I'm leaving the country.

286
00:12:26,010 --> 00:12:28,610
But how many people really do?

287
00:12:28,950 --> 00:12:31,290
And then when you think about it, where

288
00:12:31,290 --> 00:12:32,230
would you really go?

289
00:12:33,150 --> 00:12:35,310
And some people do like the idea of

290
00:12:35,310 --> 00:12:41,130
just the thrill of going somewhere for years,

291
00:12:41,670 --> 00:12:45,070
just to expand their horizons.

292
00:12:45,470 --> 00:12:48,810
And some people split their year up.

293
00:12:49,190 --> 00:12:51,630
I have family who have done this actually

294
00:12:51,630 --> 00:12:55,310
with Portugal, where a family member spent half

295
00:12:55,310 --> 00:12:57,210
the year in Portugal and half the year

296
00:12:57,210 --> 00:12:59,310
back home in New York.

297
00:13:01,670 --> 00:13:04,150
And I'm sure there's complications that come up,

298
00:13:04,310 --> 00:13:07,670
but for a specific period of time, that

299
00:13:07,670 --> 00:13:08,810
might make a lot of sense.

300
00:13:09,430 --> 00:13:13,510
The other is, I have another extended family

301
00:13:13,510 --> 00:13:15,830
member that is doing, him and his wife

302
00:13:15,830 --> 00:13:18,650
are doing basically a tour of the United

303
00:13:18,650 --> 00:13:18,950
States.

304
00:13:19,070 --> 00:13:20,290
They've been doing it for years in an

305
00:13:20,290 --> 00:13:20,570
RV.

306
00:13:21,330 --> 00:13:24,370
And they don't have an actual home.

307
00:13:25,170 --> 00:13:27,770
That sounds very difficult, but very fun.

308
00:13:27,910 --> 00:13:29,630
Yeah, well, I guess it suits them.

309
00:13:29,970 --> 00:13:33,250
And they've seen every corner of the United

310
00:13:33,250 --> 00:13:35,430
States and probably at least twice.

311
00:13:36,570 --> 00:13:37,870
Would you ever do that?

312
00:13:37,870 --> 00:13:39,890
I don't think it'd be for me.

313
00:13:40,190 --> 00:13:42,910
I definitely would like the idea of traveling

314
00:13:42,910 --> 00:13:45,610
abroad and doing an extended period.

315
00:13:46,990 --> 00:13:48,350
Kristen's talked about that too.

316
00:13:48,470 --> 00:13:51,470
She would love the idea of some little

317
00:13:51,470 --> 00:13:52,490
village somewhere.

318
00:13:53,290 --> 00:13:54,950
Just a different experience.

319
00:13:55,770 --> 00:13:58,570
I love the travel aspect when you're traveling.

320
00:13:58,770 --> 00:14:00,090
It's like, you got to fit it all

321
00:14:00,090 --> 00:14:01,830
in, got to do everything in a short

322
00:14:01,830 --> 00:14:02,330
amount of time.

323
00:14:02,730 --> 00:14:04,210
And then you're back and you're like, wow,

324
00:14:04,230 --> 00:14:06,070
I wish I could have appreciated this town

325
00:14:06,070 --> 00:14:07,350
or that town or that experience.

326
00:14:07,350 --> 00:14:08,430
The nature of the experience.

327
00:14:08,670 --> 00:14:08,770
Yeah.

328
00:14:08,950 --> 00:14:10,290
So having it drawn out a little bit

329
00:14:10,290 --> 00:14:12,330
more, that would definitely be very appealing.

330
00:14:12,510 --> 00:14:14,930
I can see the appeal of that, but

331
00:14:14,930 --> 00:14:15,550
not forever.

332
00:14:15,870 --> 00:14:16,850
Like, I wouldn't...

333
00:14:16,850 --> 00:14:17,690
You don't have a home base.

334
00:14:18,250 --> 00:14:18,810
Well, yeah.

335
00:14:21,030 --> 00:14:23,150
Well, it's, of course, what you know, right?

336
00:14:24,210 --> 00:14:25,310
But I'm American.

337
00:14:25,490 --> 00:14:26,150
I love my country.

338
00:14:26,230 --> 00:14:27,070
I want to live here.

339
00:14:27,070 --> 00:14:27,230
Yeah.

340
00:14:27,810 --> 00:14:33,130
But at the same time, the appeal of

341
00:14:33,130 --> 00:14:37,450
far off lands and the culture and the

342
00:14:37,450 --> 00:14:40,790
food and the history and so forth, all

343
00:14:40,790 --> 00:14:41,870
of these things are intriguing.

344
00:14:42,210 --> 00:14:44,010
And I can see the appeal of an

345
00:14:44,010 --> 00:14:50,730
extended experience and how that's different to experience

346
00:14:50,730 --> 00:14:53,270
the culture in a way that you wouldn't

347
00:14:53,270 --> 00:14:54,190
on a trip.

348
00:14:54,190 --> 00:14:54,470
Yeah.

349
00:14:55,630 --> 00:14:57,130
Similarly to your...

350
00:14:57,130 --> 00:14:57,990
Oh, you look like you're...

351
00:14:57,990 --> 00:14:59,670
Yeah, I was just going to say, in

352
00:14:59,670 --> 00:15:02,630
theory, this all seems so...

353
00:15:02,630 --> 00:15:03,590
Like, it seems great.

354
00:15:03,750 --> 00:15:06,110
Why wouldn't everyone do this, right?

355
00:15:06,730 --> 00:15:09,710
But then, for example, I have a friend

356
00:15:09,710 --> 00:15:12,230
who, within the last several years, moved to

357
00:15:12,230 --> 00:15:12,530
England.

358
00:15:14,070 --> 00:15:15,710
And he's a US citizen.

359
00:15:16,030 --> 00:15:17,930
He got married in England.

360
00:15:18,070 --> 00:15:19,890
And now he's talking to me about all

361
00:15:19,890 --> 00:15:23,390
the different financial implications of moving to a

362
00:15:23,390 --> 00:15:26,210
different country and the tax situation.

363
00:15:26,410 --> 00:15:28,130
And how is it, like, is it double

364
00:15:28,130 --> 00:15:29,990
tax, the US and UK?

365
00:15:30,450 --> 00:15:33,730
And inheritance tax that's, you know, in the

366
00:15:33,730 --> 00:15:37,130
UK, much higher than anything here.

367
00:15:37,910 --> 00:15:40,010
So it's just, there are a lot of

368
00:15:40,010 --> 00:15:42,950
nuances that, you know, when you're thinking about,

369
00:15:43,090 --> 00:15:44,890
wow, I would love to live a couple

370
00:15:44,890 --> 00:15:46,270
of years in Portugal or something.

371
00:15:47,090 --> 00:15:48,270
There are a lot of things that you

372
00:15:48,270 --> 00:15:50,130
need to consider and think about, not to

373
00:15:50,130 --> 00:15:52,770
put a damper on it, but there are...

374
00:15:52,770 --> 00:15:55,390
It's not always as, you know...

375
00:15:55,390 --> 00:15:56,630
As easy as hopping on a plane and

376
00:15:56,630 --> 00:15:58,970
planning down...

377
00:15:59,370 --> 00:16:02,170
And that extended vacation imagery that you have.

378
00:16:03,130 --> 00:16:04,050
That's a good point.

379
00:16:04,570 --> 00:16:08,170
You know, you also talked about living in

380
00:16:08,170 --> 00:16:08,630
the RV.

381
00:16:10,230 --> 00:16:12,290
And we also have a client who is

382
00:16:12,290 --> 00:16:17,230
planning to buy a yacht and travel the

383
00:16:17,230 --> 00:16:19,550
world by boat.

384
00:16:19,550 --> 00:16:19,830
Yeah.

385
00:16:21,270 --> 00:16:24,550
And sail from one continent to the next.

386
00:16:24,870 --> 00:16:25,490
Basically around the world.

387
00:16:25,630 --> 00:16:25,790
Yeah.

388
00:16:27,270 --> 00:16:28,230
Sounds interesting.

389
00:16:28,470 --> 00:16:28,930
Sounds fun.

390
00:16:29,030 --> 00:16:32,170
Sounds scary as hell to me, but it's

391
00:16:32,170 --> 00:16:33,030
an adventure, right?

392
00:16:33,070 --> 00:16:34,510
And you can see the appeal of that.

393
00:16:34,610 --> 00:16:35,490
That's definitely an adventure.

394
00:16:36,770 --> 00:16:40,330
But in my case, the idea of driving

395
00:16:40,330 --> 00:16:42,910
across country or, you know, an extended road

396
00:16:42,910 --> 00:16:45,770
trip, I think sounds appealing.

397
00:16:46,290 --> 00:16:47,930
I'm not sure I really want to do

398
00:16:47,930 --> 00:16:51,230
the RV thing because, you know, I can't

399
00:16:51,230 --> 00:16:53,890
imagine Kristen and I driving together in a

400
00:16:53,890 --> 00:17:00,970
big, behemoth vehicle and not getting on each

401
00:17:00,970 --> 00:17:03,290
other's nerves like that for driving.

402
00:17:03,890 --> 00:17:06,910
But even driving, you know, in a regular

403
00:17:06,910 --> 00:17:10,490
car seems like it would be tough and

404
00:17:10,490 --> 00:17:11,190
difficult for us.

405
00:17:11,190 --> 00:17:13,990
But I really do like the appeal of

406
00:17:13,990 --> 00:17:14,290
that.

407
00:17:14,710 --> 00:17:17,089
Just going from one place to the next,

408
00:17:17,329 --> 00:17:25,650
seeing the country in that way would be

409
00:17:25,650 --> 00:17:28,570
intriguing to me and seeing some amazing sights

410
00:17:28,570 --> 00:17:29,250
along the way.

411
00:17:29,590 --> 00:17:30,990
So I like the idea of that as

412
00:17:30,990 --> 00:17:31,250
well.

413
00:17:31,390 --> 00:17:33,450
A little off topic from this subject.

414
00:17:33,990 --> 00:17:38,670
But yeah, I think when it comes down

415
00:17:38,670 --> 00:17:43,110
to it, you know, whatever is your dream

416
00:17:43,110 --> 00:17:45,610
of this, all of it's possible.

417
00:17:45,990 --> 00:17:51,650
It's a question of planning, really, and knowing

418
00:17:51,650 --> 00:17:53,910
the details, you know, to your point about

419
00:17:53,910 --> 00:17:57,250
some of the consequences of these implications.

420
00:17:59,370 --> 00:18:04,010
And similarly, when it comes to the preparations

421
00:18:04,010 --> 00:18:05,530
involved, it takes time.

422
00:18:05,650 --> 00:18:06,310
It takes planning.

423
00:18:06,550 --> 00:18:07,270
It takes deliberation.

424
00:18:09,650 --> 00:18:12,010
You should be thinking about this as it

425
00:18:12,010 --> 00:18:14,610
relates to your plan for your financial plan.

426
00:18:15,290 --> 00:18:18,270
What's your mind's eye, the ideal?

427
00:18:18,530 --> 00:18:23,290
What is that, whether it's living abroad or

428
00:18:23,290 --> 00:18:25,870
maybe it's something else, what would really have

429
00:18:25,870 --> 00:18:30,730
that sort of dream someday of achieving?

430
00:18:31,530 --> 00:18:34,490
And or maybe it's within your grasp.

431
00:18:35,110 --> 00:18:39,530
Having a financial plan in place can help

432
00:18:39,530 --> 00:18:43,490
you to give some merit to what can

433
00:18:43,490 --> 00:18:43,890
I afford?

434
00:18:43,990 --> 00:18:44,790
How would I do this?

435
00:18:44,850 --> 00:18:45,490
How would it work?

436
00:18:46,750 --> 00:18:50,210
In some cases, there's an expectation this might

437
00:18:50,210 --> 00:18:54,090
actually be a cost savings, which could have

438
00:18:54,090 --> 00:18:54,490
appeal.

439
00:18:55,010 --> 00:18:57,210
In other instances, it could be, oh, we

440
00:18:57,210 --> 00:18:59,270
still keep in the house, but we're living

441
00:18:59,270 --> 00:19:00,730
away for six months or something.

442
00:19:01,150 --> 00:19:02,310
So it's an added expense.

443
00:19:02,950 --> 00:19:05,790
But whatever that is, do some planning.

444
00:19:06,030 --> 00:19:08,110
And if we can be a resource, your

445
00:19:08,110 --> 00:19:12,090
financial planner for you, for our clients, or

446
00:19:12,090 --> 00:19:14,290
for someone who doesn't have someone to work

447
00:19:14,290 --> 00:19:16,670
with, we can probably be a resource to

448
00:19:16,670 --> 00:19:16,910
you.

449
00:19:18,790 --> 00:19:20,230
Let's maybe just talk about some of our

450
00:19:20,230 --> 00:19:23,890
great planning resources, Ross, before we kind of

451
00:19:23,890 --> 00:19:25,190
wind down this episode.

452
00:19:25,570 --> 00:19:27,530
Yeah, I'll definitely touch on that.

453
00:19:27,630 --> 00:19:30,030
One thing I wanted to mention is a

454
00:19:30,030 --> 00:19:31,950
lot of clients that come to see us

455
00:19:31,950 --> 00:19:35,270
are maybe nearing retirement or they start thinking

456
00:19:35,270 --> 00:19:35,890
about retirement.

457
00:19:36,070 --> 00:19:37,930
And that's the kind of the impetus behind

458
00:19:37,930 --> 00:19:39,250
seeing a financial advisor.

459
00:19:39,370 --> 00:19:40,930
It's like, do I have enough money to

460
00:19:40,930 --> 00:19:41,210
retire?

461
00:19:41,390 --> 00:19:43,490
And what is that going to look like

462
00:19:43,490 --> 00:19:44,470
for me in retirement?

463
00:19:46,510 --> 00:19:49,350
But so many people are chasing that retirement.

464
00:19:49,630 --> 00:19:50,750
All right, that's the marker.

465
00:19:50,970 --> 00:19:52,010
All right, that's why I get to stop

466
00:19:52,010 --> 00:19:52,430
working.

467
00:19:53,210 --> 00:19:53,630
Someday.

468
00:19:54,070 --> 00:19:57,130
Well, that, but it's like, there's not much

469
00:19:57,130 --> 00:19:59,210
thought of, all right, what is my retirement

470
00:19:59,210 --> 00:19:59,810
going to be?

471
00:19:59,890 --> 00:20:01,030
Like, what is it going to look like?

472
00:20:01,530 --> 00:20:02,910
How am I going to live my life

473
00:20:02,910 --> 00:20:06,010
and, you know, enjoy the experiences that I

474
00:20:06,010 --> 00:20:08,970
want for myself or for a family, right?

475
00:20:09,250 --> 00:20:10,970
Yeah, fulfillment, right?

476
00:20:11,070 --> 00:20:13,050
So rather than just being like, okay, this

477
00:20:13,050 --> 00:20:14,250
is the point at which I don't have

478
00:20:14,250 --> 00:20:16,090
to worry and then it's just a forever

479
00:20:16,090 --> 00:20:16,690
vacation.

480
00:20:17,030 --> 00:20:18,710
But we talk about this all the time.

481
00:20:19,850 --> 00:20:21,870
It's, you know, it's different than a forever

482
00:20:21,870 --> 00:20:22,170
vacation.

483
00:20:22,390 --> 00:20:24,750
It's just at some point it becomes, oh,

484
00:20:24,810 --> 00:20:28,310
now the vacation is extending and extending and

485
00:20:28,310 --> 00:20:28,590
extending.

486
00:20:28,710 --> 00:20:29,750
And what else do I want to do?

487
00:20:29,810 --> 00:20:31,530
What do I want to do that's going

488
00:20:31,530 --> 00:20:32,170
to bring me fulfillment?

489
00:20:32,570 --> 00:20:35,650
And yeah, I just feel like that's an

490
00:20:35,650 --> 00:20:37,250
important thing to think about if you're in

491
00:20:37,250 --> 00:20:38,130
that stage of life.

492
00:20:38,350 --> 00:20:41,130
You know, what does that retirement picture look

493
00:20:41,130 --> 00:20:41,750
like to you?

494
00:20:41,750 --> 00:20:43,990
Because that can really inform the planning process.

495
00:20:44,510 --> 00:20:45,890
And then to your point about some of

496
00:20:45,890 --> 00:20:48,330
the planning software and the planning that we

497
00:20:48,330 --> 00:20:49,730
can do and the analysis we can do.

498
00:20:50,710 --> 00:20:51,910
We basically run...

499
00:20:52,690 --> 00:20:55,210
Just before you jump into that, what you

500
00:20:55,210 --> 00:20:59,070
just said, we've talked with Dr. Roger Landry

501
00:20:59,070 --> 00:21:00,390
a couple of times on the show.

502
00:21:01,650 --> 00:21:04,430
He mentioned to us recently, he and his

503
00:21:04,430 --> 00:21:06,330
wife took like, I think it was like

504
00:21:06,330 --> 00:21:10,770
a six week tour of around parts of

505
00:21:10,770 --> 00:21:11,070
Europe.

506
00:21:11,750 --> 00:21:15,270
And he talks about, you know, what's that

507
00:21:15,270 --> 00:21:19,830
retirement experience, being in motion, moving towards something,

508
00:21:19,970 --> 00:21:22,970
having goals and objectives and all that.

509
00:21:23,250 --> 00:21:24,630
But this was one of the things they,

510
00:21:25,230 --> 00:21:27,550
he and his wife did recently was this

511
00:21:27,550 --> 00:21:28,470
extended trip.

512
00:21:29,090 --> 00:21:31,730
And it was like experiencing things in a

513
00:21:31,730 --> 00:21:34,350
different way than you might otherwise, a slow

514
00:21:34,350 --> 00:21:36,410
process through their travels.

515
00:21:36,870 --> 00:21:38,810
Yeah, that's one of the nice things about

516
00:21:38,810 --> 00:21:39,190
retirement.

517
00:21:39,190 --> 00:21:40,990
It kind of affords that amount of time

518
00:21:40,990 --> 00:21:43,510
that you can have to do those kinds

519
00:21:43,510 --> 00:21:44,650
of unique experiences.

520
00:21:45,130 --> 00:21:46,030
So I took you off track.

521
00:21:46,490 --> 00:21:47,010
Yeah.

522
00:21:47,150 --> 00:21:50,110
So just from the financial planning side of

523
00:21:50,110 --> 00:21:52,410
things, you know, we start with taking a

524
00:21:52,410 --> 00:21:56,290
look at a client's financial picture, basically all

525
00:21:56,290 --> 00:21:56,910
encompassing.

526
00:21:56,970 --> 00:21:59,810
We look at everything, all the investments, savings,

527
00:22:00,090 --> 00:22:02,850
you know, some estate planning as well.

528
00:22:03,050 --> 00:22:05,570
We enter that all into some software that

529
00:22:05,570 --> 00:22:08,650
we have to create some projections for what

530
00:22:08,650 --> 00:22:11,850
is based on your expenditures, based on your

531
00:22:11,850 --> 00:22:14,090
income, based on your projected income in retirement

532
00:22:14,090 --> 00:22:16,270
through Social Security, your pensions and that sort

533
00:22:16,270 --> 00:22:16,610
of thing.

534
00:22:17,130 --> 00:22:18,270
How does it all shape out?

535
00:22:18,850 --> 00:22:21,890
When we look into retirement, we set a

536
00:22:21,890 --> 00:22:27,350
longevity assumption and, you know, we kind of

537
00:22:27,350 --> 00:22:28,090
stress test that.

538
00:22:28,210 --> 00:22:29,670
We see if it, you know, what if

539
00:22:29,670 --> 00:22:30,190
you live longer?

540
00:22:30,230 --> 00:22:32,010
What if you don't live as long?

541
00:22:32,390 --> 00:22:34,590
And we can run these forecasts to really

542
00:22:34,590 --> 00:22:37,490
get a good sense of what that's going

543
00:22:37,490 --> 00:22:39,450
to look like for you in retirement and

544
00:22:39,450 --> 00:22:41,450
how much we should be pulling, where should

545
00:22:41,450 --> 00:22:42,950
we be pulling from for liquidity?

546
00:22:43,630 --> 00:22:45,670
All those sorts of questions can usually be

547
00:22:45,670 --> 00:22:49,110
answered, at least from an initial perspective at

548
00:22:49,110 --> 00:22:50,550
the first planning offset.

549
00:22:50,650 --> 00:22:52,230
And then we dive deeper from there.

550
00:22:53,670 --> 00:22:58,070
So there's a lot to consider and making

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00:22:58,070 --> 00:23:01,090
sure you have the resources at your disposal.

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00:23:01,350 --> 00:23:03,450
We have some great resources to be a

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00:23:03,450 --> 00:23:04,610
help in the process.

554
00:23:05,290 --> 00:23:08,390
But if you're finding it's a new year,

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00:23:09,090 --> 00:23:12,050
it's that time when you think about the

556
00:23:12,050 --> 00:23:15,290
future a little bit more, look back, look

557
00:23:15,290 --> 00:23:19,050
ahead kind of thing and start thinking about

558
00:23:19,050 --> 00:23:22,850
what that might be for you, we have

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00:23:22,850 --> 00:23:24,750
some resources to be helpful to you.

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00:23:24,810 --> 00:23:27,990
And we offer a complimentary consultation and welcome

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00:23:27,990 --> 00:23:30,690
you to consider reaching out to us if

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00:23:30,690 --> 00:23:33,610
you'd like some help in your process.

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00:23:34,610 --> 00:23:38,570
That can involve not only the portfolio and

564
00:23:38,570 --> 00:23:43,190
making sure you're investing well and sufficiently or

565
00:23:43,190 --> 00:23:46,050
if you're at that stage where you're on

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00:23:46,050 --> 00:23:48,510
the cusp of retirement or maybe well into

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00:23:48,510 --> 00:23:51,350
retirement, making sure you're taking the right amount

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00:23:51,350 --> 00:23:54,070
of risk for your needs, planning your cash

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00:23:54,070 --> 00:23:57,810
flow effectively, having the appropriate amount of reserves.

570
00:23:58,450 --> 00:24:00,770
Sometimes people have too much, sometimes they have

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00:24:00,770 --> 00:24:01,250
too little.

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00:24:01,810 --> 00:24:03,730
We can help you navigate that a little

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00:24:03,730 --> 00:24:04,030
bit.

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00:24:04,030 --> 00:24:06,850
And then putting it all into the context

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00:24:06,850 --> 00:24:09,470
of how does this all fit together?

576
00:24:10,090 --> 00:24:12,430
What are some of the tax considerations?

577
00:24:12,750 --> 00:24:14,790
What are some of the estate planning considerations?

578
00:24:15,390 --> 00:24:18,570
How do we plan in an integrated way

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00:24:18,570 --> 00:24:22,910
where we are deliberate and thoughtful and try

580
00:24:22,910 --> 00:24:25,370
to put together a structure that will work

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00:24:25,370 --> 00:24:27,710
for you now and in the future?

582
00:24:27,710 --> 00:24:31,710
So wherever you're at on your journey, if

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00:24:31,710 --> 00:24:34,210
you could benefit from a second set of

584
00:24:34,210 --> 00:24:37,810
eyes, that's what we offer as this time

585
00:24:37,810 --> 00:24:40,490
of year in particular as a complimentary consultation.

586
00:24:41,050 --> 00:24:42,550
It's a two-step process.

587
00:24:42,790 --> 00:24:44,310
We start with an initial meeting.

588
00:24:44,730 --> 00:24:46,990
Really, we get to know you, your resources,

589
00:24:47,310 --> 00:24:50,630
your priorities, your family dynamics, and so forth.

590
00:24:51,210 --> 00:24:53,810
And then from there, we take all the

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00:24:53,810 --> 00:24:56,650
information, maybe send you off to do a

592
00:24:56,650 --> 00:24:59,150
little homework, get a few things together for

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00:24:59,150 --> 00:24:59,450
us.

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00:25:00,030 --> 00:25:01,570
We then do some analysis.

595
00:25:02,090 --> 00:25:05,650
We put together a presentation for you and

596
00:25:05,650 --> 00:25:08,190
a proposal for you to say, how would

597
00:25:08,190 --> 00:25:10,210
this work if you were to follow our

598
00:25:10,210 --> 00:25:11,970
guidelines, our guidance?

599
00:25:12,510 --> 00:25:15,250
And if you should decide it's a good

600
00:25:15,250 --> 00:25:16,770
fit, you can always come back and work

601
00:25:16,770 --> 00:25:17,150
with us.

602
00:25:17,630 --> 00:25:20,630
And if not, you'll hopefully find you've gotten

603
00:25:20,630 --> 00:25:22,090
value from the experience.

604
00:25:22,710 --> 00:25:25,150
We'll share our information as we close out

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00:25:25,150 --> 00:25:25,690
the show.

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00:25:26,230 --> 00:25:27,030
Give us a call.

607
00:25:27,150 --> 00:25:27,870
Send us an email.

608
00:25:28,670 --> 00:25:30,530
We'd be happy to speak with you.

609
00:25:31,110 --> 00:25:34,090
Russ, thanks for your participation and thoughts.

610
00:25:34,470 --> 00:25:37,750
Until next time, everyone, keep striving for something

611
00:25:37,750 --> 00:25:38,030
more.

612
00:25:38,790 --> 00:25:41,130
Thank you for listening to Something More with

613
00:25:41,130 --> 00:25:41,830
Chris Boyd.

614
00:25:42,150 --> 00:25:44,310
Call us for help, whether it's for financial

615
00:25:44,310 --> 00:25:48,230
planning or portfolio management, insurance concerns, or those

616
00:25:48,230 --> 00:25:50,270
quality of life issues that make the money

617
00:25:50,270 --> 00:25:51,350
matters matter.

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00:25:51,710 --> 00:25:55,030
Whatever's on your mind, visit us at somethingmorewithchrisboyd

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00:25:55,030 --> 00:25:55,590
.com.

620
00:25:55,690 --> 00:25:59,790
Or call us toll free at 866-771

621
00:25:59,790 --> 00:26:01,890
-8901.

622
00:26:01,990 --> 00:26:05,750
Or send us your questions to amr-info

623
00:26:05,750 --> 00:26:07,710
at wealthenhancement.com.

624
00:26:07,870 --> 00:26:09,810
You're listening to Something More with Chris Boyd

625
00:26:09,810 --> 00:26:10,650
Financial Talk Show.

626
00:26:10,790 --> 00:26:13,270
Wealth Enhancement Advisory Services and Jay Christopher Boyd

627
00:26:13,270 --> 00:26:15,590
provide investment advice on an individual basis to

628
00:26:15,590 --> 00:26:16,130
clients only.

629
00:26:16,290 --> 00:26:18,270
Proper advice depends on a complete analysis of

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00:26:18,270 --> 00:26:19,450
all facts and circumstances.

631
00:26:19,690 --> 00:26:21,550
The information given on this program is general

632
00:26:21,550 --> 00:26:23,590
financial comments and cannot be relied upon as

633
00:26:23,590 --> 00:26:25,170
pertaining to your specific situation.

634
00:26:25,170 --> 00:26:27,350
Wealth Enhancement Group cannot guarantee that using the

635
00:26:27,350 --> 00:26:29,350
information from this show will generate profits or

636
00:26:29,350 --> 00:26:30,470
ensure freedom from loss.

637
00:26:30,690 --> 00:26:32,830
Listeners should consult their own financial advisors or

638
00:26:32,830 --> 00:26:34,930
conduct their own due diligence before making any

639
00:26:34,930 --> 00:26:35,710
financial decisions.