Martha Shedden

Social Security remains the starting point for many client conversations. It takes a lot of work to stay current with the changes in rules. Martha Shedden, Co-founder, President at NARSSA, joins us today to talk about the tools agents can use. In addition, we cover answers to many common retirement questions that clients are asking today.

Links mentioned:https://www.linkedin.com/in/marthashedden/https://narssa.org/

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Episode Transcript

The discussion is not meant to provide any legal, tax, or investment advice with respect to the purchase of an insurance product. A comprehensive evaluation of a consumer’s needs and financial situation should always occur in order to help determine if an insurance product may be appropriate for each unique situation.

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[paul_tyler]: hi this is paul tyler and welcome
to another episode of that annuity show bruno

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[paul_tyler]: welcome

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[bruno_caron]: thank you

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[paul_tyler]: okay i’m glad

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[martha_shedden]: m

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[paul_tyler]: you’re you’re now an official co host
and look forward to have you on a

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[paul_tyler]: lot

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[bruno_caron]: yeah

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[paul_tyler]: of these discussions adding your perspective

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[bruno_caron]: ah

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[paul_tyler]: you’re coming to

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[bruno_caron]: it’s

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[paul_tyler]: us

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[bruno_caron]: a

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[paul_tyler]: from

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[bruno_caron]: pleasure and an honor

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[paul_tyler]: and you’re coming to us from canada
correct

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[bruno_caron]: correct

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[paul_tyler]: okay

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[bruno_caron]: correct

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[paul_tyler]: so what

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[bruno_caron]: recently

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[paul_tyler]: yeah new job new role same same

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[bruno_caron]: m

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[paul_tyler]: local correct

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[bruno_caron]: correct correct recently moved and very excited
about my en you roll in of course

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[bruno_caron]: it’s very topical for

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[paul_tyler]: yeah

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[bruno_caron]: for the pot so

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[paul_tyler]: yeah

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[bruno_caron]: i’m very excited about that

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[paul_tyler]: yeah well ramsen forcing couldn’t be on
here he’s actually traveling he’s been driving a

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[paul_tyler]: lot so this is one of the
few episodes in a long time that he’s

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[paul_tyler]: missed but hopefully have im on back
next next next week um today listen we

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[paul_tyler]: got a really great guest for you
and our guest is martha she any may

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[paul_tyler]: have heard of her and i actually
got to know her as

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[bruno_caron]: m

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[paul_tyler]: she was kind enough invite me on
as a guest of her podcast and

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[bruno_caron]: m

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[paul_tyler]: martha’s got a really interesting you know
life story you know where she was how

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[paul_tyler]: she got into this business and currently
she is co founder and president of narsa

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[paul_tyler]: martha did i say that narsa

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[martha_shedden]: refer to yes

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[paul_tyler]: yeah yeah and so tell us about
it tell us about your your organization tell

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[paul_tyler]: us about who your what what do
you do

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[martha_shedden]: well we in a short and a
short statement we educate and train financial professionals

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[martha_shedden]: on social security

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[paul_tyler]: oh

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[martha_shedden]: and claiming

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[paul_tyler]: yah

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[martha_shedden]: rules and strategy so that they

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[paul_tyler]: h

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[martha_shedden]: can help their clients make optimal claiming
decision and i can back up a little

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[martha_shedden]: bit about how i got

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[paul_tyler]: yeah

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[martha_shedden]: started back in yeah i have

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[paul_tyler]: how did

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[martha_shedden]: a

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[paul_tyler]: you

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[martha_shedden]: kind

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[paul_tyler]: end up

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[martha_shedden]: of

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[paul_tyler]: in this crazy world of ours

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[bruno_caron]: uh

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[martha_shedden]: it is crazy

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[bruno_caron]: uh

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[paul_tyler]: yeah

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[bruno_caron]: ah

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[martha_shedden]: but the story is crazy

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[bruno_caron]: ah

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[martha_shedden]: i

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[paul_tyler]: yeah

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[martha_shedden]: trained as a civil engineer

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[bruno_caron]: oh

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[martha_shedden]: i was working as

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[paul_tyler]: yeah

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[martha_shedden]: a civil engineer back in two thousand
and eleve

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[bruno_caron]: m

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[martha_shedden]: and i did that for about thirty
two years and a financial

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[bruno_caron]: m

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[martha_shedden]: advisor

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[paul_tyler]: ye

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[martha_shedden]: that i know here locally asked me
to help him with a a project he

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[martha_shedden]: had on social security i started

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[bruno_caron]: oh

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[martha_shedden]: reading

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[paul_tyler]: oh

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[martha_shedden]: books and researching i’m right in the
middle

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[paul_tyler]: yeah

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[martha_shedden]: excuse me of the baby boomers and
i was

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[paul_tyler]: oh

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[martha_shedden]: so

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[paul_tyler]: oh

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[martha_shedden]: shocked at what i didn’t know what
i didn’t understand

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[bruno_caron]: m

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[martha_shedden]: how much money is at stake for
our lifetime

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[paul_tyler]: yeah

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[martha_shedden]: amounts and i became quite

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[paul_tyler]: yes

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[martha_shedden]: fanatical about it

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[bruno_caron]: oh

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[martha_shedden]: and i decided to go through the
chartered retirement planning councillor program

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[paul_tyler]: oh

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[martha_shedden]: i had the opportunity to teach a

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[bruno_caron]: oh

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[martha_shedden]: online course on the basics of

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[bruno_caron]: yeah

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[martha_shedden]: social security which led to further courses
and that was for mostly for c p

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[martha_shedden]: as so i did that through three
different providers and that’s how i met my

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[martha_shedden]: current co founder and business partner michael
rosedale who’s a c p a in new

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[martha_shedden]: york and i’m in california and we
founded narsa in

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[paul_tyler]: m

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[martha_shedden]: two thousand seventeen he saw the need
excuse me he saw the need and he

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[martha_shedden]: saw the opportunity for

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[bruno_caron]: oh

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[martha_shedden]: tax professionals to use this as an
addition to their services because the way i

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[martha_shedden]: i had started my own business and
what i was doing was offering client analyses

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[martha_shedden]: for a fixed fee and that seemed
to deal well with the tax profession as

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[martha_shedden]: another service they could offer and it
has expanded beyond that so we

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[paul_tyler]: oh

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[bruno_caron]: ye

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[martha_shedden]: created the five module training corps um
we are very unique in that the fifth

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[martha_shedden]: module is training using our software to
do the client analysis so someone who goes

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[martha_shedden]: through the course passes the final exam
then is an r s s a register

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[martha_shedden]: so security analyst

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[bruno_caron]: oh

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[martha_shedden]: and they are equipped to with our
support to help their clients with that claiming

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[martha_shedden]: decision

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[paul_tyler]: got it and just since you’re so
focused on this and question around trajectories for

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[paul_tyler]: client conversations and please correct me if
i’m wrong you know were in the middle

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[paul_tyler]: of medicare openrolment we sell medicare supplement
surance so we’re starting those calls

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[bruno_caron]: oh

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[paul_tyler]: and and there clearly is part of
the population that sort of starts that retirement

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[paul_tyler]: conversation with health care because people or
work until they’re

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[martha_shedden]: yes

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[paul_tyler]: sixty five then they must file and
that sort of triggers

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[bruno_caron]: yeah

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[paul_tyler]: a lot of decisions they haven’t made
um some think in advance some retire early

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[paul_tyler]: need to

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[bruno_caron]: m

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[paul_tyler]: start with retirement early or your

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[martha_shedden]: oh

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[paul_tyler]: planners social security seems like very critical
track the other direction is housing you know

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[paul_tyler]: i got this big house my kids
moved out

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[bruno_caron]: oh

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[paul_tyler]: where do i live that sort of
says well what are my expenses what the

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[paul_tyler]: how do i cut my costs what
do you do with my house where i

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[paul_tyler]: put the money are those the three
primary

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[bruno_caron]: m

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[paul_tyler]: you

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[bruno_caron]: yeh

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[paul_tyler]: victors for retirement

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[bruno_caron]: oh

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[paul_tyler]: planning where does social security fit is
that the social security the starting point for

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[paul_tyler]: eighty percent of decisions ninety do you
have a sense

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[martha_shedden]: you know

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[bruno_caron]: m

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[martha_shedden]: i strongly feel personally it should be
the very first decision

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[bruno_caron]: oh

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[martha_shedden]: um m

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[bruno_caron]: m

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[martha_shedden]: we’re eligible at age sixty two with
the technology we have

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[bruno_caron]: oh

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[martha_shedden]: we can help people start planning

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[bruno_caron]: oh

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[martha_shedden]: for retirement in their fifties

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[paul_tyler]: oh

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[martha_shedden]: um so security

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[bruno_caron]: m

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[paul_tyler]: oh

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[martha_shedden]: to me

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[bruno_caron]: oh

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[martha_shedden]: is like an annuity it is a
guaranteed monthly amount with a cost of living

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[martha_shedden]: adjustment we’ve been paying into that program
all of our working lives and um m

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[martha_shedden]: that is something we can build all
the other retirement pieces around there’s not too

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[martha_shedden]: many other unless you have defined benefit
pensions but it is smart to get that

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[martha_shedden]: set and then if you’re trying to
delay collecting what other funds what other

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[bruno_caron]: m

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[martha_shedden]: assets can you use um m so
it’s a puzzle bruno and i were talking

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[martha_shedden]: about that it is

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[bruno_caron]: oh

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[martha_shedden]: a very very tricky puzzle to um
set up those lifetime income streams and so

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[martha_shedden]: that you are withdrawing from your funds
possibly using equity in your home paul like

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[martha_shedden]: you you mentioned m to create the
most tax efficient um

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[bruno_caron]: yeah

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[martha_shedden]: m level of of finances people people
are looking for that security that that monthly

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[martha_shedden]: check and that security that they’re going
to be okay throughout the retirement years that’s

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[martha_shedden]: i feel it’s really the starting point

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[bruno_caron]: wonderful i mean if you were to
start let’s say with a very basic case

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[bruno_caron]: sixty five year old couple they want
to retire they have assets and to paul’s

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[bruno_caron]: point i mean they all you know
think about their housing health care and and

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[bruno_caron]: all of those other very important buckets
how do frame social security in terms of

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[bruno_caron]: the big considerations you mentioned money you
kind of leave on the table you know

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[bruno_caron]: that inflation protection what are those those
major considerations or in other words how do

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[bruno_caron]: you frame the problem for them in
terms of you now making that the decision

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[bruno_caron]: on when to elect so security

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[martha_shedden]: yeah well i think a lot of
people um do not realize how much money

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[martha_shedden]: is at

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[bruno_caron]: oh

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[martha_shedden]: stake over their lifetimes that

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[bruno_caron]: yeah

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[martha_shedden]: was

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[bruno_caron]: yeah

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[martha_shedden]: the biggest thing that

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[bruno_caron]: yes

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[martha_shedden]: hit me when i first started learning
about it i mean the average recipient this

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[martha_shedden]: year we’ll receive about twenty thousand a
year they live another twenty or thirty years

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[martha_shedden]: it’s three to five hundred six hundred
thousand

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[bruno_caron]: oh

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[martha_shedden]: we commonly

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00:08:56,325 –> 00:08:56,569
[bruno_caron]: oh

212
00:08:56,327 –> 00:08:57,429
[martha_shedden]: work with couples who are

213
00:08:57,403 –> 00:08:57,465
[bruno_caron]: ah

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00:08:57,489 –> 00:09:04,495
[martha_shedden]: collecting in the millions so this is
it should be thought of as an asset

215
00:09:06,034 –> 00:09:14,680
[martha_shedden]: it is many people’s it’s the bulk
of many retires income and retirement and it’s

216
00:09:14,921 –> 00:09:23,589
[martha_shedden]: often more than they may even have
currently in their investment portfolios so um that

217
00:09:23,789 –> 00:09:27,676
[martha_shedden]: claiming age especially with couples uno you
mentioned that

218
00:09:28,179 –> 00:09:28,695
[bruno_caron]: hm

219
00:09:28,537 –> 00:09:37,174
[martha_shedden]: couples need to plan this decision together
because there are opportunities for spouses m if

220
00:09:37,434 –> 00:09:45,267
[martha_shedden]: one has significantly lower based benefit amount
they would be collecting based on their spouses

221
00:09:45,387 –> 00:09:51,097
[martha_shedden]: earnings rather than their own they would
collect the higher of the two their all

222
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[martha_shedden]: spouses are eligible to collect the spousal
benefit that’s up to fifty percent of your

223
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[martha_shedden]: spouses

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[bruno_caron]: oh

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[martha_shedden]: p i a their base amount so
the other critical aspect for or couples and

226
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[martha_shedden]: this comes into life insurance is that
survivor benefit the survivor of a couple inherits

227
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[martha_shedden]: larger of the two benefits so really
critical for people

228
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[bruno_caron]: m

229
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[martha_shedden]: approaching

230
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[bruno_caron]: m

231
00:10:22,917 –> 00:10:23,077
[martha_shedden]: their

232
00:10:22,980 –> 00:10:23,000
[paul_tyler]: a

233
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[martha_shedden]: sixties to plan for this i can’t
emphasize how you need to plan for it

234
00:10:27,865 –> 00:10:34,619
[martha_shedden]: early it’s commonly you know the full
retirement age is between six and sixty seven

235
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[martha_shedden]: but as you probably understand a lot
of people think their full retirement age

236
00:10:39,975 –> 00:10:41,085
[bruno_caron]: oh

237
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[martha_shedden]: when they would get one hundred per
cent of their benefit is sixty five because

238
00:10:44,424 –> 00:10:49,751
[martha_shedden]: they equate that with with medic care
um but the most you get is not

239
00:10:49,851 –> 00:10:56,076
[martha_shedden]: until seventy so there’s there’s a lot
of decision making that that can allow you

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00:10:56,137 –> 00:10:57,602
[martha_shedden]: to optimize that income

241
00:10:59,212 –> 00:11:02,017
[paul_tyler]: martha how do you feel about factoring
and health care

242
00:11:02,205 –> 00:11:02,225
[bruno_caron]: m

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00:11:02,618 –> 00:11:07,446
[paul_tyler]: or say say health span use somebody
else’s language health

244
00:11:07,284 –> 00:11:07,446
[martha_shedden]: oh

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00:11:07,746 –> 00:11:15,013
[paul_tyler]: health span of a cup when timing
the one they take retirement when the

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00:11:15,144 –> 00:11:15,285
[martha_shedden]: well

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00:11:15,295 –> 00:11:15,436
[paul_tyler]: yeah

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00:11:15,325 –> 00:11:15,486
[martha_shedden]: that

249
00:11:16,770 –> 00:11:17,118
[paul_tyler]: oh

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00:11:16,904 –> 00:11:18,807
[martha_shedden]: that’s a really good question paul because

251
00:11:18,885 –> 00:11:19,111
[bruno_caron]: oh

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00:11:18,927 –> 00:11:26,602
[martha_shedden]: the and we consider maximum life expectancy
so we work with our clients to really

253
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[martha_shedden]: zero

254
00:11:27,855 –> 00:11:27,875
[bruno_caron]: m

255
00:11:28,021 –> 00:11:30,365
[martha_shedden]: in on you want

256
00:11:30,435 –> 00:11:30,636
[bruno_caron]: oh

257
00:11:30,505 –> 00:11:31,467
[martha_shedden]: to plan

258
00:11:31,604 –> 00:11:31,725
[bruno_caron]: yeah

259
00:11:31,607 –> 00:11:36,355
[martha_shedden]: for the maximum age you can live
you don’t want to run

260
00:11:36,219 –> 00:11:36,240
[paul_tyler]: m

261
00:11:36,435 –> 00:11:42,936
[martha_shedden]: out of money from any of your
sources that longevity risk is what you’re trying

262
00:11:43,057 –> 00:11:48,211
[martha_shedden]: to you know watch out for and
so

263
00:11:49,365 –> 00:11:50,715
[bruno_caron]: yeah

264
00:11:49,914 –> 00:11:52,017
[martha_shedden]: the analysis we provide

265
00:11:52,005 –> 00:11:52,605
[bruno_caron]: yeah

266
00:11:52,677 –> 00:11:54,780
[martha_shedden]: takes into account it can look at

267
00:11:55,140 –> 00:11:55,401
[paul_tyler]: oh

268
00:11:55,380 –> 00:12:01,708
[martha_shedden]: it can examine many different combinations of
life expectancy

269
00:12:01,785 –> 00:12:01,805
[bruno_caron]: m

270
00:12:01,848 –> 00:12:10,399
[martha_shedden]: for couples and it’s not it’s not
average you don’t you don’t want to underestimate

271
00:12:10,110 –> 00:12:10,311
[paul_tyler]: yeah

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00:12:10,419 –> 00:12:12,261
[martha_shedden]: your life expectancy you may not

273
00:12:12,264 –> 00:12:12,285
[bruno_caron]: m

274
00:12:12,501 –> 00:12:15,045
[martha_shedden]: die when you think you’re going to
die so

275
00:12:15,372 –> 00:12:16,594
[paul_tyler]: and if i die how long

276
00:12:16,605 –> 00:12:16,625
[bruno_caron]: m

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00:12:17,055 –> 00:12:19,419
[paul_tyler]: do i plan to stay dead yes

278
00:12:19,305 –> 00:12:19,685
[bruno_caron]: yeah

279
00:12:19,354 –> 00:12:22,198
[martha_shedden]: oh yeah

280
00:12:23,486 –> 00:12:23,626
[paul_tyler]: you’re

281
00:12:23,524 –> 00:12:23,726
[martha_shedden]: yeah

282
00:12:23,686 –> 00:12:24,267
[paul_tyler]: right martha

283
00:12:23,947 –> 00:12:26,846
[martha_shedden]: i you know a lot

284
00:12:26,834 –> 00:12:26,895
[bruno_caron]: uh

285
00:12:26,886 –> 00:12:27,307
[martha_shedden]: of people

286
00:12:27,825 –> 00:12:27,845
[bruno_caron]: m

287
00:12:28,110 –> 00:12:28,890
[paul_tyler]: oh

288
00:12:28,349 –> 00:12:28,830
[martha_shedden]: they want

289
00:12:28,734 –> 00:12:28,755
[bruno_caron]: h

290
00:12:29,011 –> 00:12:29,953
[martha_shedden]: a break even

291
00:12:29,895 –> 00:12:30,057
[bruno_caron]: oh

292
00:12:30,390 –> 00:12:30,831
[paul_tyler]: oh

293
00:12:30,935 –> 00:12:33,381
[martha_shedden]: we’re struggling with this on our software
because

294
00:12:33,825 –> 00:12:34,068
[bruno_caron]: yeah

295
00:12:34,380 –> 00:12:34,683
[paul_tyler]: oh

296
00:12:35,214 –> 00:12:38,239
[martha_shedden]: you know you see those charges for
if i start at sixty two i’m going

297
00:12:38,279 –> 00:12:42,806
[martha_shedden]: to get this for this long i’m
started seventy it’ll be this but that’s not

298
00:12:42,926 –> 00:12:51,124
[martha_shedden]: really an accurate decision making point for
so security that’s only one person one lifetime

299
00:12:51,030 –> 00:12:51,414
[paul_tyler]: yeah

300
00:12:51,244 –> 00:12:51,885
[martha_shedden]: for couples

301
00:12:51,615 –> 00:12:51,902
[bruno_caron]: oh

302
00:12:51,985 –> 00:12:57,330
[martha_shedden]: there’s so much more involved um and
i haven’t even mentioned you know couples with

303
00:12:57,410 –> 00:12:59,673
[martha_shedden]: a younger spouse there there

304
00:12:59,520 –> 00:13:00,510
[paul_tyler]: oh

305
00:12:59,753 –> 00:13:03,478
[martha_shedden]: are ple where one spouse is may
be ten years younger and they may have

306
00:13:03,558 –> 00:13:09,979
[martha_shedden]: minor children when they retire so there
are so many personal rules and strategies that

307
00:13:10,059 –> 00:13:11,322
[martha_shedden]: affect that decision

308
00:13:11,640 –> 00:13:11,820
[paul_tyler]: yeah

309
00:13:11,985 –> 00:13:13,065
[bruno_caron]: yeah

310
00:13:12,201 –> 00:13:15,128
[paul_tyler]: martha i know a few people in
that category not

311
00:13:15,195 –> 00:13:15,375
[bruno_caron]: um

312
00:13:15,348 –> 00:13:16,150
[paul_tyler]: thankfully not me

313
00:13:16,136 –> 00:13:18,068
[martha_shedden]: he oh

314
00:13:18,444 –> 00:13:18,465
[bruno_caron]: m

315
00:13:18,816 –> 00:13:19,177
[paul_tyler]: thankfully

316
00:13:19,176 –> 00:13:19,216
[bruno_caron]: a

317
00:13:19,217 –> 00:13:19,397
[paul_tyler]: not me

318
00:13:21,975 –> 00:13:29,728
[bruno_caron]: so you mentioned longevity risk which you
know is definitely a topic that comes up

319
00:13:29,928 –> 00:13:37,801
[bruno_caron]: on many of our many of our
our episode um how how do you how

320
00:13:37,841 –> 00:13:42,349
[bruno_caron]: do you view this how do you
explain that to you know to individuals or

321
00:13:42,829 –> 00:13:49,981
[bruno_caron]: couples who are in the midst of
free tiring and explaining that whole that whole

322
00:13:50,682 –> 00:13:55,871
[bruno_caron]: longevity risk and that longevity aspect because
you just you just mentioned that you know

323
00:13:56,071 –> 00:14:00,599
[bruno_caron]: a return on investment is one way
to look at it but that’s that’s that’s

324
00:14:00,679 –> 00:14:04,746
[bruno_caron]: not necessarily the dynamic here there’s an
unknown

325
00:14:04,617 –> 00:14:04,637
[martha_shedden]: h

326
00:14:04,926 –> 00:14:09,915
[bruno_caron]: element how do you deal with that
and how do you explain that to two

327
00:14:10,879 –> 00:14:12,527
[bruno_caron]: your clients and other retires

328
00:14:13,664 –> 00:14:19,695
[martha_shedden]: well it’s all it’s all about showing
them the numbers and that’s

329
00:14:19,515 –> 00:14:19,740
[bruno_caron]: oh

330
00:14:20,236 –> 00:14:24,643
[martha_shedden]: one of the aspects that i love
so much i’m such a number person and

331
00:14:24,723 –> 00:14:34,105
[martha_shedden]: such a problem solver and there is
nothing more satisfying than helping helping people make

332
00:14:34,165 –> 00:14:42,118
[martha_shedden]: this large financial decision with the software
and the analysis and the charts and tables

333
00:14:42,219 –> 00:14:48,114
[martha_shedden]: our software creates we can show them
they can ask us any question at if

334
00:14:48,335 –> 00:14:52,451
[martha_shedden]: i live this long and my spouse
dies at this age what does that look

335
00:14:52,551 –> 00:14:58,079
[martha_shedden]: like we can show them the difference
in lifetime amount the difference in annual and

336
00:14:58,139 –> 00:15:06,245
[martha_shedden]: monthly amount and they and those comparisons
then they’re able to make that decision is

337
00:15:06,325 –> 00:15:12,868
[martha_shedden]: this worth it to me is it
worth it too to wait so i feel

338
00:15:13,049 –> 00:15:20,066
[martha_shedden]: like the visual and the review of
the output from the analysis is what really

339
00:15:20,166 –> 00:15:25,439
[martha_shedden]: really brings that home because they can
see it in dollars in today’s dollars

340
00:15:25,875 –> 00:15:26,359
[bruno_caron]: he’s in

341
00:15:26,444 –> 00:15:31,481
[martha_shedden]: and they can ask themselves how much
does that matter to me is it worth

342
00:15:31,562 –> 00:15:31,622
[martha_shedden]: it

343
00:15:37,095 –> 00:15:39,045
[bruno_caron]: oh

344
00:15:38,241 –> 00:15:39,624
[paul_tyler]: we we as an industry martha are

345
00:15:39,555 –> 00:15:39,761
[bruno_caron]: oh

346
00:15:39,664 –> 00:15:46,125
[paul_tyler]: always kind of focused on and people
to delay retirement have you ever recommended to

347
00:15:46,185 –> 00:15:48,948
[paul_tyler]: file early maybe you tell us a
story or two if you if you have

348
00:15:49,008 –> 00:15:49,329
[paul_tyler]: done that

349
00:15:52,246 –> 00:15:57,518
[martha_shedden]: yes there are often that’s a really
good question there are many many people who

350
00:15:57,639 –> 00:15:59,062
[martha_shedden]: need to file early

351
00:15:59,190 –> 00:15:59,313
[paul_tyler]: ye

352
00:16:00,435 –> 00:16:06,628
[martha_shedden]: they are not able to keep working
they may have helped real health issues that

353
00:16:07,002 –> 00:16:07,164
[paul_tyler]: ah

354
00:16:07,069 –> 00:16:14,654
[martha_shedden]: do indicate a shorter life span so
that’s why we talk about making the optimal

355
00:16:14,734 –> 00:16:21,439
[martha_shedden]: decision it’s not all about maximizing your
lifetime income it’s making the optimal decision for

356
00:16:21,519 –> 00:16:31,415
[martha_shedden]: your circumstances um m so it’s i
don’t know that i’ve ever recommended it but

357
00:16:31,758 –> 00:16:41,255
[martha_shedden]: it’s it’s all about understanding your personal
circumstances don’t just claim early because you’re neighbor

358
00:16:41,656 –> 00:16:46,009
[martha_shedden]: your cousin you know people said take
the money invest it you can get more

359
00:16:45,870 –> 00:16:46,112
[paul_tyler]: yeah

360
00:16:46,089 –> 00:16:51,531
[martha_shedden]: on your returns if you take the
money and invest i mean become educated and

361
00:16:51,671 –> 00:17:01,327
[martha_shedden]: know what your now what your personal
rules and options are i think i

362
00:17:01,425 –> 00:17:01,607
[bruno_caron]: oh

363
00:17:01,447 –> 00:17:08,660
[martha_shedden]: just read yesterday that over half of
retires collect before their full retirement age which

364
00:17:08,740 –> 00:17:19,103
[martha_shedden]: is sixty six to sixty seven and
um m i think quarter of men collect

365
00:17:19,184 –> 00:17:19,948
[martha_shedden]: at sixty two

366
00:17:20,979 –> 00:17:21,000
[paul_tyler]: m

367
00:17:21,764 –> 00:17:25,889
[martha_shedden]: that fifty percent a quarter of the
men collected sixty two and about a third

368
00:17:25,969 –> 00:17:31,289
[martha_shedden]: of the women collected sixty two now
that’s changing it as people become more and

369
00:17:31,330 –> 00:17:36,672
[martha_shedden]: more aware they’re waiting but still only
i think five percent of men and seven

370
00:17:36,712 –> 00:17:42,460
[martha_shedden]: percent of women actually wait till seventy
but many many can’t many can’t afford to

371
00:17:42,540 –> 00:17:42,761
[martha_shedden]: wake

372
00:17:43,300 –> 00:17:43,321
[paul_tyler]: a

373
00:17:45,024 –> 00:17:45,045
[martha_shedden]: o

374
00:17:45,321 –> 00:17:50,951
[paul_tyler]: those those are really interesting stats so
you know we’ve got a society

375
00:17:50,745 –> 00:17:50,967
[bruno_caron]: yes

376
00:17:51,812 –> 00:17:51,832
[paul_tyler]: i

377
00:17:51,855 –> 00:17:52,078
[bruno_caron]: oh

378
00:17:51,912 –> 00:17:58,710
[paul_tyler]: know bruno collectively making the optimally bad
decision um martha i mean how many what

379
00:17:58,770 –> 00:18:03,982
[paul_tyler]: percent do you think are correctly making
that early option to early making early

380
00:18:03,904 –> 00:18:04,534
[martha_shedden]: yeah

381
00:18:04,022 –> 00:18:10,889
[paul_tyler]: decision what per cent just don’t understand
and then what per cent just got bad

382
00:18:10,949 –> 00:18:11,349
[paul_tyler]: advice

383
00:18:13,964 –> 00:18:19,595
[martha_shedden]: i think the majority i mean we’ve
there statistics that show that ninety six percent

384
00:18:19,755 –> 00:18:21,779
[martha_shedden]: of retires have not made the

385
00:18:21,864 –> 00:18:21,885
[bruno_caron]: m

386
00:18:21,880 –> 00:18:25,785
[martha_shedden]: optima claiming decision only about four per
cent have

387
00:18:25,558 –> 00:18:26,445
[bruno_caron]: m m

388
00:18:26,446 –> 00:18:29,069
[martha_shedden]: meaning that they’re they’re leaving money on
the table

389
00:18:29,055 –> 00:18:29,300
[bruno_caron]: oh

390
00:18:29,189 –> 00:18:31,171
[martha_shedden]: an average of over a hundred and
ten

391
00:18:31,155 –> 00:18:32,175
[bruno_caron]: oh

392
00:18:31,271 –> 00:18:40,605
[martha_shedden]: thousand dollars per household over their lifetimes
um m o i that is that’s one

393
00:18:40,665 –> 00:18:45,230
[martha_shedden]: of my biggest passions is to get
the word out there that there is help

394
00:18:45,471 –> 00:18:49,719
[martha_shedden]: to be had for this we not
only train advisors

395
00:18:49,425 –> 00:18:49,445
[bruno_caron]: m

396
00:18:50,140 –> 00:18:55,169
[martha_shedden]: to help their clients but we also
have in house r s sas to do

397
00:18:55,250 –> 00:19:03,212
[martha_shedden]: analysis and it it’s so much worth
your time and effort to

398
00:19:03,795 –> 00:19:04,097
[bruno_caron]: yes

399
00:19:04,214 –> 00:19:09,741
[martha_shedden]: reach out and and have find someone
who’s you know educated on social

400
00:19:09,585 –> 00:19:09,605
[bruno_caron]: m

401
00:19:09,781 –> 00:19:10,763
[martha_shedden]: security to help you

402
00:19:13,036 –> 00:19:18,184
[bruno_caron]: at makes that makes perfect sense and
it gets me to my kind of next

403
00:19:18,264 –> 00:19:25,937
[bruno_caron]: topic which is very very current is
is inflation and think that a lot of

404
00:19:27,500 –> 00:19:35,854
[bruno_caron]: you know a lot of lot of
the headlines are around inflation and in trance

405
00:19:35,914 –> 00:19:44,248
[bruno_caron]: carriers are a little shy of hovering
any lifetime income that is inflation protected or

406
00:19:44,889 –> 00:19:51,399
[bruno_caron]: has some some inflation feature which led
just to you now as individuals probably the

407
00:19:51,520 –> 00:20:00,595
[bruno_caron]: only lever or mechanism that we or
option available is is social security how do

408
00:20:00,655 –> 00:20:04,463
[bruno_caron]: you how do you view this how
do you address this and how do you

409
00:20:04,804 –> 00:20:08,070
[bruno_caron]: how do you strategize this for for
individuals

410
00:20:10,374 –> 00:20:16,324
[martha_shedden]: um well you’re you’re so correct it
is really the one of the few that

411
00:20:16,464 –> 00:20:21,071
[martha_shedden]: is still inflation adjusted and there’s a
good and the bad side to that i

412
00:20:21,132 –> 00:20:22,033
[martha_shedden]: mean as we just saw

413
00:20:22,065 –> 00:20:22,226
[bruno_caron]: yah

414
00:20:22,153 –> 00:20:23,436
[martha_shedden]: that week the current

415
00:20:23,214 –> 00:20:23,235
[bruno_caron]: h

416
00:20:23,816 –> 00:20:29,969
[martha_shedden]: the new upcoming cost delivering adjustment is
eight point seven cent but that means inflation

417
00:20:30,069 –> 00:20:32,484
[martha_shedden]: is going up and um

418
00:20:32,505 –> 00:20:32,727
[bruno_caron]: yeah

419
00:20:33,085 –> 00:20:37,411
[martha_shedden]: and there are you know there are
those that don’t feel the way that cost

420
00:20:37,511 –> 00:20:45,091
[martha_shedden]: of living adjustment is calculated accurately reflects
the costs of retiring but given all of

421
00:20:45,151 –> 00:20:51,586
[martha_shedden]: that it’s still better than nothing and
i will

422
00:20:51,420 –> 00:20:52,230
[paul_tyler]: oh

423
00:20:51,707 –> 00:20:58,546
[martha_shedden]: take advantage of that question bruno to
to make a clarification that people misunderstand about

424
00:20:58,586 –> 00:21:06,447
[martha_shedden]: that cost of living adjustment um m
that was released last week and it will

425
00:21:06,547 –> 00:21:13,098
[martha_shedden]: start applying to individuals benefits in january
of twenty twenty three now that does not

426
00:21:13,198 –> 00:21:17,676
[martha_shedden]: mean you should race to start collecting
so you miss out on it

427
00:21:18,548 –> 00:21:18,568
[bruno_caron]: h

428
00:21:18,794 –> 00:21:19,576
[martha_shedden]: in reality

429
00:21:19,674 –> 00:21:19,695
[bruno_caron]: m

430
00:21:19,957 –> 00:21:25,030
[martha_shedden]: once you turn sixty two the cost
of living adjustment is applied to

431
00:21:25,095 –> 00:21:25,336
[bruno_caron]: oh

432
00:21:25,150 –> 00:21:29,882
[martha_shedden]: your base benefit every year whether you
are collecting or not

433
00:21:30,285 –> 00:21:30,570
[bruno_caron]: oh

434
00:21:30,824 –> 00:21:32,265
[martha_shedden]: don’t use that

435
00:21:32,424 –> 00:21:32,947
[bruno_caron]: m yeah

436
00:21:33,286 –> 00:21:34,147
[martha_shedden]: that desperate

437
00:21:33,885 –> 00:21:33,905
[bruno_caron]: m

438
00:21:34,207 –> 00:21:37,251
[martha_shedden]: you know and then i’m going to
take advantage and get that eight point seven

439
00:21:37,291 –> 00:21:39,213
[martha_shedden]: per cent you will get that eventually

440
00:21:38,715 –> 00:21:38,957
[bruno_caron]: yeah

441
00:21:42,045 –> 00:21:42,368
[martha_shedden]: waiting

442
00:21:42,677 –> 00:21:42,882
[bruno_caron]: yeah

443
00:21:43,294 –> 00:21:44,988
[martha_shedden]: as well as collecting now

444
00:21:45,082 –> 00:21:46,705
[paul_tyler]: so it’s interesting

445
00:21:46,635 –> 00:21:46,856
[bruno_caron]: oh

446
00:21:47,386 –> 00:21:50,171
[paul_tyler]: at least the last i think martha
you’re

447
00:21:49,935 –> 00:21:50,257
[bruno_caron]: oh

448
00:21:50,191 –> 00:21:55,379
[paul_tyler]: the expert i think the last five
or ten years of c p i adjustments

449
00:21:55,560 –> 00:21:55,900
[paul_tyler]: ave been

450
00:21:55,815 –> 00:21:56,016
[bruno_caron]: oh

451
00:21:56,201 –> 00:21:56,842
[paul_tyler]: related to

452
00:21:57,165 –> 00:21:57,945
[bruno_caron]: yeah

453
00:21:57,643 –> 00:22:02,271
[paul_tyler]: or driven i believe by health rising
health care cost which is going to really

454
00:22:02,311 –> 00:22:02,872
[paul_tyler]: hit seniors

455
00:22:02,715 –> 00:22:02,959
[bruno_caron]: oh

456
00:22:03,152 –> 00:22:09,583
[paul_tyler]: right so and immediately you know you
got one or two percent increase your midicare

457
00:22:09,623 –> 00:22:13,349
[paul_tyler]: premiums went up the same okay what
it really matter this time this time it

458
00:22:13,389 –> 00:22:20,180
[paul_tyler]: sounds like medicarepremiums are going to stay
flat um because inflations hitting other parts of

459
00:22:20,200 –> 00:22:23,404
[paul_tyler]: the economy do you think this is
going to wash out is still neutral for

460
00:22:23,484 –> 00:22:26,306
[paul_tyler]: seniors or do you think it’s it’ll
actually

461
00:22:26,115 –> 00:22:26,135
[bruno_caron]: m

462
00:22:26,387 –> 00:22:28,629
[paul_tyler]: will be a little bit of a
benefit here

463
00:22:29,965 –> 00:22:36,244
[martha_shedden]: i think i think most retires are
going to see this it’s quite significant now

464
00:22:37,888 –> 00:22:38,008
[martha_shedden]: over

465
00:22:37,995 –> 00:22:38,075
[bruno_caron]: oh

466
00:22:38,068 –> 00:22:39,732
[martha_shedden]: the last forty years i mean when

467
00:22:40,785 –> 00:22:41,047
[bruno_caron]: oh

468
00:22:40,964 –> 00:22:43,992
[martha_shedden]: i’ve been working in this field for
about twelve years

469
00:22:43,995 –> 00:22:44,399
[bruno_caron]: oh

470
00:22:44,092 –> 00:22:50,284
[martha_shedden]: and there were several years of zero
cost of living adjustment but m to that

471
00:22:50,404 –> 00:22:56,615
[martha_shedden]: topic specifically you know last year the
medic are premiums went up so high and

472
00:22:56,655 –> 00:23:05,457
[martha_shedden]: that was basically based on one individual
drug that was over wasn’t calculated quite correctly

473
00:23:06,138 –> 00:23:06,739
[martha_shedden]: this year

474
00:23:06,915 –> 00:23:07,116
[bruno_caron]: oh

475
00:23:07,080 –> 00:23:09,934
[martha_shedden]: the premium is going down and i’ve

476
00:23:09,840 –> 00:23:10,860
[paul_tyler]: yeah

477
00:23:10,014 –> 00:23:16,101
[martha_shedden]: never heard of that happening before so
not only are retires getting that cost of

478
00:23:16,161 –> 00:23:23,427
[martha_shedden]: living adjustment from sol security their medic
are premiums are usually deducted from their

479
00:23:23,307 –> 00:23:23,451
[bruno_caron]: yeah

480
00:23:23,587 –> 00:23:29,572
[martha_shedden]: socurity benefit so that’s going to increase
to because it went down instead of up

481
00:23:29,673 –> 00:23:36,817
[martha_shedden]: this year but yes the health care
costs that’s the biggest unknown

482
00:23:36,840 –> 00:23:37,500
[paul_tyler]: yeah

483
00:23:36,957 –> 00:23:39,482
[martha_shedden]: for retires and that’s the scariest

484
00:23:40,020 –> 00:23:40,261
[paul_tyler]: yeah

485
00:23:40,484 –> 00:23:48,802
[martha_shedden]: topic talk to deal with so whatever
you can do to get that guaranteed income

486
00:23:49,424 –> 00:23:55,180
[martha_shedden]: i mean we we look at all
kinds of different avenues for that you mentioned

487
00:23:55,882 –> 00:24:03,603
[martha_shedden]: m real estate paul and m we’re
partner with the national reverse mortgage lenders association

488
00:24:03,764 –> 00:24:13,405
[martha_shedden]: because i have a good friend and
those two go hand in hand i reverse

489
00:24:13,485 –> 00:24:14,668
[martha_shedden]: mortgages or home

490
00:24:14,685 –> 00:24:14,705
[bruno_caron]: m

491
00:24:14,808 –> 00:24:22,520
[martha_shedden]: equity conversion mortgages are another topic that
retiring should be educated on it

492
00:24:22,575 –> 00:24:22,797
[bruno_caron]: oh

493
00:24:22,620 –> 00:24:25,568
[martha_shedden]: could be a wonderful option

494
00:24:25,610 –> 00:24:25,651
[bruno_caron]: h

495
00:24:25,708 –> 00:24:26,471
[martha_shedden]: for many people

496
00:24:26,364 –> 00:24:26,385
[bruno_caron]: h

497
00:24:26,571 –> 00:24:30,502
[martha_shedden]: with the rising costs and the equity
that many people have in there

498
00:24:30,867 –> 00:24:30,969
[bruno_caron]: ah

499
00:24:31,264 –> 00:24:32,232
[martha_shedden]: their homes and there’s

500
00:24:32,204 –> 00:24:32,265
[bruno_caron]: ah

501
00:24:32,292 –> 00:24:35,037
[martha_shedden]: a lot of ways to to use
that equity

502
00:24:38,665 –> 00:24:43,613
[bruno_caron]: no thank you that that makes that
makes perfect sense and i think on on

503
00:24:43,753 –> 00:24:45,176
[bruno_caron]: that note on the whole

504
00:24:45,630 –> 00:24:45,951
[paul_tyler]: yeah

505
00:24:46,137 –> 00:24:48,261
[bruno_caron]: you know he heal care expense

506
00:24:48,079 –> 00:24:48,219
[paul_tyler]: yeah

507
00:24:48,341 –> 00:24:54,832
[bruno_caron]: is i think we i agree it’s
a it’s a major unknown for four retires

508
00:24:55,673 –> 00:25:00,241
[bruno_caron]: um and i really want to underscore
one of

509
00:25:00,450 –> 00:25:00,714
[paul_tyler]: oh

510
00:25:00,722 –> 00:25:05,810
[bruno_caron]: the things you just said in your
ens was that because of that unknown you

511
00:25:05,870 –> 00:25:07,914
[bruno_caron]: want to maximize that

512
00:25:08,104 –> 00:25:08,325
[martha_shedden]: yeah

513
00:25:08,575 –> 00:25:11,740
[bruno_caron]: lifetime income or that income from from
social security

514
00:25:11,370 –> 00:25:12,390
[paul_tyler]: yeah

515
00:25:12,514 –> 00:25:12,534
[martha_shedden]: m

516
00:25:12,702 –> 00:25:12,885
[paul_tyler]: yes

517
00:25:12,962 –> 00:25:13,283
[bruno_caron]: which is

518
00:25:14,640 –> 00:25:15,300
[paul_tyler]: yeah

519
00:25:15,552 –> 00:25:23,585
[bruno_caron]: sometimes other advisers or other professionals would
use lifetime income the other way around where

520
00:25:23,725 –> 00:25:27,211
[bruno_caron]: you would say you know lifetime income
is not liquid therefore it’s

521
00:25:27,150 –> 00:25:27,840
[paul_tyler]: yeah

522
00:25:27,311 –> 00:25:32,740
[bruno_caron]: not good for for health gave but
i really like the way you portrait it

523
00:25:32,820 –> 00:25:37,809
[bruno_caron]: and you put it out there is
you know the more income you have h

524
00:25:38,049 –> 00:25:41,855
[bruno_caron]: ou know the more you can deal
with health care expenses and not just that

525
00:25:42,216 –> 00:25:46,723
[bruno_caron]: one health care expense but health care
expenses through the rest of your life and

526
00:25:46,804 –> 00:25:47,144
[bruno_caron]: on top

527
00:25:47,137 –> 00:25:47,321
[martha_shedden]: right

528
00:25:47,204 –> 00:25:47,525
[bruno_caron]: of that

529
00:25:47,901 –> 00:25:48,084
[paul_tyler]: yeah

530
00:25:48,306 –> 00:25:52,112
[bruno_caron]: having more income allows you to rely
less on

531
00:25:52,080 –> 00:25:52,282
[paul_tyler]: ye

532
00:25:52,753 –> 00:25:58,024
[bruno_caron]: the rest of you portfolio to know
so that when you know when when that

533
00:25:59,186 –> 00:26:06,460
[bruno_caron]: catastrophe happens you’re in a bed and
position to to deal with it um so

534
00:26:07,802 –> 00:26:13,071
[bruno_caron]: do you want to expend a little
more on you know value on income within

535
00:26:13,171 –> 00:26:16,503
[bruno_caron]: that health care expend context

536
00:26:17,194 –> 00:26:25,267
[martha_shedden]: yes it’s it’s so critical that’s i
think that’s most retire is biggest fear and

537
00:26:25,327 –> 00:26:30,956
[martha_shedden]: it’s what our clients worry about so
much and so like you just stated anything

538
00:26:31,016 –> 00:26:39,387
[martha_shedden]: you can do to maximize that monthly
dream of income i mean remember we’re just

539
00:26:39,448 –> 00:26:46,831
[martha_shedden]: talking about it’s like an annuity um
m there are ole planning for retirement should

540
00:26:47,974 –> 00:26:50,356
[martha_shedden]: looking for all avenues

541
00:26:50,025 –> 00:26:50,230
[bruno_caron]: oh

542
00:26:50,476 –> 00:26:55,521
[martha_shedden]: that they can they can use for
that many people don’t have long term care

543
00:26:55,701 –> 00:26:57,803
[martha_shedden]: medic hair doesn’t doesn’t cover that

544
00:26:58,680 –> 00:26:58,700
[paul_tyler]: m

545
00:26:58,764 –> 00:27:03,710
[martha_shedden]: ah and it’s just a horrible thought
to reach you know the end of our

546
00:27:03,830 –> 00:27:05,333
[martha_shedden]: years and be faced with

547
00:27:05,850 –> 00:27:07,059
[paul_tyler]: oh yeah

548
00:27:07,306 –> 00:27:09,792
[martha_shedden]: extremely high costs in

549
00:27:10,224 –> 00:27:10,245
[bruno_caron]: m

550
00:27:10,794 –> 00:27:16,067
[martha_shedden]: be thinking ahead where can i where
can i turn if i need that at

551
00:27:16,107 –> 00:27:19,472
[martha_shedden]: that time and that’s why i that’s
why i kind of veered off track and

552
00:27:19,532 –> 00:27:26,564
[martha_shedden]: mentioned that home equity conversion workes because
there are ways to plan for these really

553
00:27:26,684 –> 00:27:31,633
[martha_shedden]: extraordinary health you know and medical costs
that could hit us later

554
00:27:32,350 –> 00:27:32,532
[paul_tyler]: yeah

555
00:27:32,924 –> 00:27:34,595
[martha_shedden]: it’s very it’s very scary

556
00:27:35,700 –> 00:27:41,049
[paul_tyler]: i was at a risk management medi
offsite yesterday it was interesting i don’t know

557
00:27:42,151 –> 00:27:42,391
[paul_tyler]: there’s

558
00:27:42,615 –> 00:27:42,898
[bruno_caron]: oh

559
00:27:42,952 –> 00:27:45,416
[paul_tyler]: there’s a downer of meeting now

560
00:27:46,185 –> 00:27:47,835
[bruno_caron]: oh

561
00:27:47,179 –> 00:27:47,740
[paul_tyler]: this is it it’s

562
00:27:48,465 –> 00:27:48,485
[bruno_caron]: m

563
00:27:48,601 –> 00:27:54,291
[paul_tyler]: re living in some very unique times
and i may butcher the statistics but something

564
00:27:54,371 –> 00:28:00,102
[paul_tyler]: like i think this is one of
three years in the last hunt or hunter

565
00:28:00,162 –> 00:28:08,163
[paul_tyler]: plus where stocks equities down hundred i’m
trying to think that what was stock i

566
00:28:08,203 –> 00:28:10,225
[paul_tyler]: guess it was a stock market hundred
years ago sure

567
00:28:12,375 –> 00:28:12,637
[bruno_caron]: yeah

568
00:28:12,687 –> 00:28:12,807
[paul_tyler]: the

569
00:28:12,828 –> 00:28:12,849
[martha_shedden]: i

570
00:28:13,368 –> 00:28:14,429
[paul_tyler]: this is like one of the

571
00:28:14,895 –> 00:28:15,180
[bruno_caron]: oh

572
00:28:15,410 –> 00:28:20,058
[paul_tyler]: three years where both stocks and bonds
have gone down at the same time wait

573
00:28:20,098 –> 00:28:24,265
[paul_tyler]: a second you know you know we’ve
been telling our clients everything about our retirement

574
00:28:24,325 –> 00:28:28,211
[paul_tyler]: planning most of it comes down to
not stock comes down as a location

575
00:28:28,395 –> 00:28:28,597
[bruno_caron]: yeah

576
00:28:28,552 –> 00:28:31,016
[paul_tyler]: seventy ve don’t know seventy

577
00:28:30,914 –> 00:28:31,055
[martha_shedden]: yeah

578
00:28:31,076 –> 00:28:32,098
[paul_tyler]: thirty sixty forty

579
00:28:31,965 –> 00:28:31,985
[bruno_caron]: m

580
00:28:32,138 –> 00:28:32,959
[paul_tyler]: what is it that’s the big

581
00:28:32,925 –> 00:28:33,106
[bruno_caron]: yeah

582
00:28:33,059 –> 00:28:38,629
[paul_tyler]: paul s the biggest decision you can
make um arguably you know one camp can

583
00:28:38,709 –> 00:28:46,802
[paul_tyler]: say look inflation is today we’re experiencing
it’s it’s caused by two unique exogets events

584
00:28:46,882 –> 00:28:48,966
[paul_tyler]: we had this worldwide pandemic and now
we’ve got this

585
00:28:48,885 –> 00:28:48,905
[bruno_caron]: m

586
00:28:49,046 –> 00:28:54,393
[paul_tyler]: crazy country you know trying to like
blow you know bomb a country out of

587
00:28:54,433 –> 00:28:56,374
[paul_tyler]: existence okay and shut down the oil

588
00:28:56,235 –> 00:28:56,397
[martha_shedden]: right

589
00:28:56,454 –> 00:29:02,701
[paul_tyler]: fields there’s another campesisyou know the supply
chain crisis is big

590
00:29:02,595 –> 00:29:02,615
[bruno_caron]: m

591
00:29:03,623 –> 00:29:03,823
[paul_tyler]: you know

592
00:29:03,855 –> 00:29:04,082
[bruno_caron]: oh

593
00:29:03,863 –> 00:29:09,773
[paul_tyler]: we have a lot of demographic changes
across the world where people are retiring out

594
00:29:09,813 –> 00:29:18,024
[paul_tyler]: of critical positions and inflation continue m
what point martha do you start to reset

595
00:29:18,204 –> 00:29:24,094
[paul_tyler]: your the calculus behind those optimizational factors
like does this have to persist six months

596
00:29:24,174 –> 00:29:28,984
[paul_tyler]: twelve months eighteen months before you say
you know i did these plans for you

597
00:29:29,024 –> 00:29:32,857
[paul_tyler]: bruno but let’s let’s re think your
plan

598
00:29:35,154 –> 00:29:37,640
[martha_shedden]: well that’s a really good question and
again

599
00:29:37,496 –> 00:29:37,577
[bruno_caron]: oh

600
00:29:37,720 –> 00:29:45,777
[martha_shedden]: that comes back to the ability to
do these analysis as i mentioned we work

601
00:29:45,837 –> 00:29:50,496
[martha_shedden]: with people in their fifties to plan
the best security

602
00:29:50,130 –> 00:29:50,393
[paul_tyler]: oh

603
00:29:50,797 –> 00:29:52,624
[martha_shedden]: and tax strategy withdrawal

604
00:29:52,170 –> 00:29:52,950
[paul_tyler]: yeah

605
00:29:52,745 –> 00:29:53,387
[martha_shedden]: strategies

606
00:29:54,930 –> 00:29:55,174
[paul_tyler]: oh

607
00:29:55,405 –> 00:29:56,656
[martha_shedden]: and then

608
00:29:57,249 –> 00:29:57,270
[paul_tyler]: m

609
00:29:57,855 –> 00:30:05,005
[martha_shedden]: we can re evaluate that very very
easily along the way until they reach whatever

610
00:30:05,165 –> 00:30:11,449
[martha_shedden]: age it is they’re going to start
collecting and so an advisor out there who

611
00:30:11,770 –> 00:30:17,204
[martha_shedden]: takes this really listic comprehensive view

612
00:30:17,085 –> 00:30:17,347
[bruno_caron]: oh

613
00:30:18,086 –> 00:30:23,454
[martha_shedden]: a retirement plan it’s not a one
time deal it’s something you do at least

614
00:30:23,695 –> 00:30:33,945
[martha_shedden]: annually if not more given today’s circumstances
and you able to it no go in

615
00:30:34,005 –> 00:30:41,717
[martha_shedden]: a slightly different direction if you need
to so it’s um m the financial professionals

616
00:30:41,878 –> 00:30:43,801
[martha_shedden]: out there who understand

617
00:30:43,665 –> 00:30:43,867
[bruno_caron]: yeah

618
00:30:44,342 –> 00:30:51,829
[martha_shedden]: how complicated retirement financial planning is and
are taking this on are those who can

619
00:30:52,130 –> 00:30:56,989
[martha_shedden]: really really help their clients and give
them that peace of mind i think um

620
00:30:57,703 –> 00:31:02,391
[martha_shedden]: m stay with them you know along
the way it’s not a one of one

621
00:31:02,451 –> 00:31:02,972
[martha_shedden]: shot deal

622
00:31:03,707 –> 00:31:06,969
[bruno_caron]: yeah as opposed to social security election

623
00:31:07,380 –> 00:31:07,882
[paul_tyler]: uh

624
00:31:07,690 –> 00:31:08,171
[bruno_caron]: that that

625
00:31:08,063 –> 00:31:08,083
[paul_tyler]: h

626
00:31:08,291 –> 00:31:09,833
[bruno_caron]: is you know a one

627
00:31:09,744 –> 00:31:09,906
[martha_shedden]: yeah

628
00:31:09,894 –> 00:31:11,156
[bruno_caron]: shot deal and

629
00:31:11,619 –> 00:31:11,640
[paul_tyler]: h

630
00:31:12,057 –> 00:31:18,987
[bruno_caron]: hence you know the value of your
your services where i mean you have to

631
00:31:19,487 –> 00:31:23,491
[bruno_caron]: you know you have one chance you
have to think about all of those things

632
00:31:23,571 –> 00:31:31,373
[bruno_caron]: through before you elect how do you
how do you go about you know explaining

633
00:31:31,453 –> 00:31:34,501
[bruno_caron]: that the dynamic to to your clients

634
00:31:35,794 –> 00:31:36,034
[martha_shedden]: well

635
00:31:36,015 –> 00:31:36,035
[bruno_caron]: m

636
00:31:36,134 –> 00:31:43,687
[martha_shedden]: there’s there’s actually two options bruno where
if someone and this is particularly

637
00:31:43,665 –> 00:31:43,846
[bruno_caron]: oh

638
00:31:43,847 –> 00:31:49,189
[martha_shedden]: pertinent given the last couple of years
in the pandemic and end shift in everyone’s

639
00:31:49,395 –> 00:31:49,621
[bruno_caron]: oh

640
00:31:50,985 –> 00:31:51,647
[martha_shedden]: employment

641
00:31:51,330 –> 00:31:51,572
[paul_tyler]: oh

642
00:31:52,128 –> 00:31:55,577
[martha_shedden]: and how we’re all working now so

643
00:31:55,905 –> 00:31:56,126
[bruno_caron]: oh

644
00:31:56,399 –> 00:31:57,062
[martha_shedden]: once you when

645
00:31:57,094 –> 00:31:57,195
[bruno_caron]: yeah

646
00:31:57,122 –> 00:31:58,546
[martha_shedden]: you first claim

647
00:31:58,590 –> 00:31:59,550
[paul_tyler]: yeah

648
00:31:59,088 –> 00:32:06,216
[martha_shedden]: and you start collecting you have twelve
months to withdraw that application if something changes

649
00:32:06,297 –> 00:32:12,716
[martha_shedden]: or you change your mind you pay
back what you’ve received but without any interest

650
00:32:13,559 –> 00:32:20,783
[martha_shedden]: and then you get the slates wipe
clean you can claim later at any time

651
00:32:20,655 –> 00:32:20,856
[bruno_caron]: oh

652
00:32:21,684 –> 00:32:23,367
[martha_shedden]: um i have a really

653
00:32:23,370 –> 00:32:23,673
[paul_tyler]: oh

654
00:32:23,407 –> 00:32:23,587
[martha_shedden]: good

655
00:32:23,526 –> 00:32:23,546
[bruno_caron]: h

656
00:32:23,748 –> 00:32:25,030
[martha_shedden]: story about that

657
00:32:24,834 –> 00:32:24,855
[bruno_caron]: m

658
00:32:25,110 –> 00:32:26,052
[martha_shedden]: that i’ll share but i

659
00:32:26,055 –> 00:32:26,255
[bruno_caron]: oh

660
00:32:26,172 –> 00:32:29,138
[martha_shedden]: want to touch on this second option
that people don’t know

661
00:32:29,445 –> 00:32:29,686
[bruno_caron]: oh

662
00:32:30,161 –> 00:32:32,948
[martha_shedden]: is if you claimed early between sixty

663
00:32:32,805 –> 00:32:33,106
[bruno_caron]: oh

664
00:32:33,028 –> 00:32:36,598
[martha_shedden]: two and your full retirement age and
you reach your full

665
00:32:36,585 –> 00:32:36,605
[bruno_caron]: m

666
00:32:36,658 –> 00:32:37,621
[martha_shedden]: retirement age

667
00:32:38,325 –> 00:32:38,570
[bruno_caron]: oh

668
00:32:38,744 –> 00:32:41,894
[martha_shedden]: you can you can voluntarily ask the
social

669
00:32:41,715 –> 00:32:41,735
[bruno_caron]: m

670
00:32:41,954 –> 00:32:44,562
[martha_shedden]: security administration to suspend your benefit

671
00:32:44,355 –> 00:32:44,658
[bruno_caron]: oh

672
00:32:45,424 –> 00:32:46,967
[martha_shedden]: and it will start growing

673
00:32:46,815 –> 00:32:46,977
[bruno_caron]: oh

674
00:32:47,108 –> 00:32:51,659
[martha_shedden]: from those delayed retirement credits we haven’t
gotten into many of the details about slow

675
00:32:51,820 –> 00:32:55,606
[martha_shedden]: security but your benefit our benefits increase

676
00:32:55,485 –> 00:32:55,686
[bruno_caron]: oh

677
00:32:55,826 –> 00:32:56,607
[martha_shedden]: every month we

678
00:32:56,854 –> 00:32:56,955
[bruno_caron]: yeah

679
00:32:57,187 –> 00:32:58,068
[martha_shedden]: wait to claim

680
00:32:57,825 –> 00:32:58,067
[bruno_caron]: yah

681
00:32:58,228 –> 00:32:59,610
[martha_shedden]: and from full retirement age

682
00:32:59,683 –> 00:32:59,805
[bruno_caron]: yah

683
00:32:59,750 –> 00:33:00,731
[martha_shedden]: to seventy that

684
00:33:00,765 –> 00:33:01,147
[bruno_caron]: oh

685
00:33:01,171 –> 00:33:02,913
[martha_shedden]: totals up to eight per cent a
year

686
00:33:03,585 –> 00:33:03,605
[bruno_caron]: m

687
00:33:04,064 –> 00:33:07,096
[martha_shedden]: someone who claimed at sixty two spends

688
00:33:06,765 –> 00:33:06,966
[bruno_caron]: yah

689
00:33:07,196 –> 00:33:08,241
[martha_shedden]: at their full retirement

690
00:33:08,274 –> 00:33:08,295
[bruno_caron]: h

691
00:33:08,341 –> 00:33:09,948
[martha_shedden]: age and is able financially

692
00:33:09,405 –> 00:33:09,627
[bruno_caron]: oh

693
00:33:10,029 –> 00:33:11,554
[martha_shedden]: to do that they can

694
00:33:11,985 –> 00:33:12,427
[bruno_caron]: oh

695
00:33:12,136 –> 00:33:15,163
[martha_shedden]: potentially get a thirty two to twenty
four per

696
00:33:15,255 –> 00:33:15,536
[bruno_caron]: oh

697
00:33:15,263 –> 00:33:18,290
[martha_shedden]: cent increase in their benefit by waiting
to collect

698
00:33:18,315 –> 00:33:18,335
[bruno_caron]: m

699
00:33:18,370 –> 00:33:19,232
[martha_shedden]: again til seventy

700
00:33:19,644 –> 00:33:19,665
[bruno_caron]: m

701
00:33:20,094 –> 00:33:21,004
[martha_shedden]: um m

702
00:33:21,165 –> 00:33:21,447
[bruno_caron]: oh

703
00:33:21,384 –> 00:33:22,766
[martha_shedden]: i have a group of women

704
00:33:23,003 –> 00:33:23,145
[bruno_caron]: yeah

705
00:33:24,069 –> 00:33:24,750
[martha_shedden]: that i’m friends

706
00:33:24,495 –> 00:33:24,778
[bruno_caron]: oh

707
00:33:24,813 –> 00:33:24,916
[paul_tyler]: ah

708
00:33:24,850 –> 00:33:29,117
[martha_shedden]: with and one of them had started
collecting she heard me talking about

709
00:33:29,004 –> 00:33:29,025
[bruno_caron]: m

710
00:33:29,198 –> 00:33:30,901
[martha_shedden]: all the nuances of

711
00:33:30,915 –> 00:33:31,316
[bruno_caron]: oh

712
00:33:31,081 –> 00:33:36,704
[martha_shedden]: spousal and there was a rule at
sed

713
00:33:36,675 –> 00:33:36,855
[bruno_caron]: oh

714
00:33:36,865 –> 00:33:39,633
[martha_shedden]: out but she met the age requirement

715
00:33:39,345 –> 00:33:41,295
[bruno_caron]: oh

716
00:33:39,713 –> 00:33:44,928
[martha_shedden]: for that rule and she withdrew her
application

717
00:33:45,795 –> 00:33:45,815
[bruno_caron]: m

718
00:33:45,984 –> 00:33:51,033
[martha_shedden]: she was collecting on her own benefit
paid back the money that she had collected

719
00:33:51,755 –> 00:33:57,438
[martha_shedden]: and was able to collect a spousal
benefit based on her husband’s earnings for four

720
00:33:57,598 –> 00:34:05,328
[martha_shedden]: years and due to a combination of
waiting and the delay credit and the work

721
00:34:05,409 –> 00:34:11,619
[martha_shedden]: that she’s doing now she has her
own coffee business her benefit is going to

722
00:34:11,839 –> 00:34:20,256
[martha_shedden]: increase threefold from what she it’s getting
when she first started that’s those are the

723
00:34:20,276 –> 00:34:21,661
[martha_shedden]: kind of things that are just so

724
00:34:22,272 –> 00:34:22,434
[bruno_caron]: yes

725
00:34:22,644 –> 00:34:23,545
[martha_shedden]: misunderstood

726
00:34:23,175 –> 00:34:23,195
[bruno_caron]: m

727
00:34:23,646 –> 00:34:27,033
[martha_shedden]: and so hidden that that we try
to help people with

728
00:34:27,495 –> 00:34:27,779
[bruno_caron]: oh

729
00:34:28,001 –> 00:34:32,087
[paul_tyler]: i have two last questions for you
and one for from an advisor perspective

730
00:34:31,764 –> 00:34:31,785
[bruno_caron]: m

731
00:34:32,168 –> 00:34:38,037
[paul_tyler]: one from a i guess client perspective
from advisor sectiveyoue got an interesting practice martha

732
00:34:38,097 –> 00:34:42,704
[paul_tyler]: so you’ve got a podcast right got
an association you do a lot of training

733
00:34:43,205 –> 00:34:50,678
[paul_tyler]: you have a team behind you if
i’m trying to really focus on being a

734
00:34:50,738 –> 00:34:54,085
[paul_tyler]: social security expert in this field what
should i do to be

735
00:34:54,045 –> 00:34:54,226
[bruno_caron]: oh

736
00:34:54,125 –> 00:34:55,788
[paul_tyler]: successful over the next five years

737
00:34:57,914 –> 00:35:04,740
[martha_shedden]: well we’re trying to make that as
easy as possible for our analyst because many

738
00:35:04,800 –> 00:35:10,501
[martha_shedden]: people go through our course they become
an r s s but like i was

739
00:35:10,561 –> 00:35:15,592
[martha_shedden]: saying to bruno before it’s a full
time effort to stay up on this topic

740
00:35:16,264 –> 00:35:18,588
[martha_shedden]: and to know all the nuances and
be

741
00:35:18,654 –> 00:35:18,675
[bruno_caron]: m

742
00:35:18,668 –> 00:35:19,349
[martha_shedden]: doing the

743
00:35:19,395 –> 00:35:19,415
[bruno_caron]: m

744
00:35:19,610 –> 00:35:22,876
[martha_shedden]: analysis so we offer a back office

745
00:35:22,905 –> 00:35:22,925
[bruno_caron]: m

746
00:35:22,996 –> 00:35:29,358
[martha_shedden]: support not only to our analyst but
to any inancial professional out there who wants

747
00:35:29,459 –> 00:35:30,040
[martha_shedden]: help with their

748
00:35:29,925 –> 00:35:30,146
[bruno_caron]: oh

749
00:35:30,120 –> 00:35:32,816
[martha_shedden]: clients so security cases

750
00:35:33,165 –> 00:35:33,915
[bruno_caron]: oh

751
00:35:33,624 –> 00:35:35,951
[martha_shedden]: and we do that we partner with

752
00:35:36,675 –> 00:35:36,695
[bruno_caron]: m

753
00:35:37,274 –> 00:35:44,597
[martha_shedden]: advisers in any way that makes the
most sense financially and you know just if

754
00:35:44,657 –> 00:35:51,298
[martha_shedden]: they want us to actually um working
with the client individually if they want to

755
00:35:51,358 –> 00:35:54,924
[martha_shedden]: be involved they’re not so and then
for our analysts

756
00:35:55,082 –> 00:35:55,183
[paul_tyler]: ah

757
00:35:55,084 –> 00:35:59,712
[martha_shedden]: who are registered members the annual fee
includes our

758
00:35:59,850 –> 00:36:00,070
[paul_tyler]: oh

759
00:35:59,852 –> 00:36:01,222
[martha_shedden]: software and clouds

760
00:36:02,025 –> 00:36:02,267
[bruno_caron]: oh

761
00:36:02,154 –> 00:36:02,835
[martha_shedden]: resources

762
00:36:02,239 –> 00:36:02,280
[paul_tyler]: ah

763
00:36:02,915 –> 00:36:05,701
[martha_shedden]: continuing education marketing tools

764
00:36:05,325 –> 00:36:06,315
[bruno_caron]: oh

765
00:36:07,394 –> 00:36:09,940
[martha_shedden]: podcasts the know so just

766
00:36:11,445 –> 00:36:11,465
[bruno_caron]: m

767
00:36:11,927 –> 00:36:14,200
[martha_shedden]: we’re trying to make it a one
stop shop

768
00:36:14,895 –> 00:36:15,177
[bruno_caron]: oh

769
00:36:15,134 –> 00:36:18,091
[martha_shedden]: or anyone advisors and clients

770
00:36:17,805 –> 00:36:17,825
[bruno_caron]: m

771
00:36:19,376 –> 00:36:23,472
[martha_shedden]: are consumers i should say anybody who
needs help so security

772
00:36:24,180 –> 00:36:27,826
[paul_tyler]: okay then just sort of got advice

773
00:36:27,724 –> 00:36:27,744
[martha_shedden]: m

774
00:36:28,367 –> 00:36:28,587
[paul_tyler]: okay

775
00:36:28,695 –> 00:36:28,715
[bruno_caron]: m

776
00:36:29,389 –> 00:36:31,873
[paul_tyler]: to people who like my wife

777
00:36:32,025 –> 00:36:32,895
[bruno_caron]: oh

778
00:36:32,073 –> 00:36:35,739
[paul_tyler]: opened the for one case statement say
what happened

779
00:36:35,346 –> 00:36:35,446
[bruno_caron]: so

780
00:36:36,642 –> 00:36:37,484
[paul_tyler]: call fidelity

781
00:36:38,595 –> 00:36:38,839
[bruno_caron]: uh

782
00:36:38,787 –> 00:36:40,912
[paul_tyler]: final what went wrong

783
00:36:40,960 –> 00:36:40,981
[bruno_caron]: h

784
00:36:40,992 –> 00:36:41,213
[paul_tyler]: here

785
00:36:41,454 –> 00:36:44,115
[bruno_caron]: m oh oh

786
00:36:44,284 –> 00:36:50,934
[martha_shedden]: that’s don’t panic it’s hard it’s difficult
then i’m

787
00:36:50,985 –> 00:36:51,206
[bruno_caron]: oh

788
00:36:50,994 –> 00:36:58,797
[martha_shedden]: right there with with her i mean
it’s and i just i’m grateful for the

789
00:36:58,857 –> 00:37:04,937
[martha_shedden]: understanding i have of the options i
have personally it just makes me even more

790
00:37:05,137 –> 00:37:05,658
[martha_shedden]: desperate

791
00:37:05,655 –> 00:37:05,675
[bruno_caron]: m

792
00:37:05,799 –> 00:37:10,649
[martha_shedden]: to spread the word of making the
most of your self security

793
00:37:12,285 –> 00:37:14,925
[bruno_caron]: oh

794
00:37:12,393 –> 00:37:19,065
[martha_shedden]: looking at other financial instruments you can
use like we said my fall back is

795
00:37:19,125 –> 00:37:23,550
[martha_shedden]: the equity in my home i mean
i’m in california and i know that years

796
00:37:23,630 –> 00:37:30,855
[martha_shedden]: from now if i need that i’ll
have that so that gives me comfort being

797
00:37:30,945 –> 00:37:31,815
[bruno_caron]: oh

798
00:37:31,015 –> 00:37:36,690
[martha_shedden]: educated and informed takes away a lot
of the anxiety we have such a sense

799
00:37:36,910 –> 00:37:43,838
[martha_shedden]: of relief and appreciation and just you
know people know what they’re going to collect

800
00:37:43,879 –> 00:37:51,740
[martha_shedden]: from social security they can move on
from there um it’s a very very powerful

801
00:37:52,664 –> 00:37:55,412
[martha_shedden]: decision that they’re making and that we’re
helping them with

802
00:37:56,744 –> 00:37:58,994
[paul_tyler]: bruno any final thoughts final questions

803
00:38:00,100 –> 00:38:08,113
[bruno_caron]: no other than an thank you i
think the entire aspect on on income probably

804
00:38:08,133 –> 00:38:10,256
[bruno_caron]: you mentioned it oh my wife’s opening
my

805
00:38:10,260 –> 00:38:10,963
[paul_tyler]: oh

806
00:38:10,557 –> 00:38:16,046
[bruno_caron]: four one case statement what’s going on
here and you know how much you have

807
00:38:16,266 –> 00:38:16,747
[bruno_caron]: how much you’re

808
00:38:16,710 –> 00:38:17,012
[paul_tyler]: yes

809
00:38:16,867 –> 00:38:17,148
[bruno_caron]: worth

810
00:38:18,360 –> 00:38:18,541
[paul_tyler]: yeah

811
00:38:18,590 –> 00:38:24,755
[bruno_caron]: that’s one side of the story how
much ink does that generate that’s n now

812
00:38:25,095 –> 00:38:30,264
[bruno_caron]: that’s an aspect as if not more
important than how much how much you have

813
00:38:30,384 –> 00:38:38,820
[bruno_caron]: and how do you juggle the two
are extremely extremely it’s extremely important so so

814
00:38:38,941 –> 00:38:42,630
[bruno_caron]: no definitely appreciate the discussion martha

815
00:38:43,110 –> 00:38:44,051
[paul_tyler]: yeah martha

816
00:38:43,885 –> 00:38:44,026
[martha_shedden]: oh

817
00:38:44,292 –> 00:38:47,837
[paul_tyler]: we’ll put the show put the show
on you now links is but where should

818
00:38:48,318 –> 00:38:52,185
[paul_tyler]: people want to reach out to advisors
want to reach out to learn about more

819
00:38:52,445 –> 00:38:54,208
[paul_tyler]: about your offering

820
00:38:54,094 –> 00:38:54,318
[martha_shedden]: oh

821
00:38:54,408 –> 00:38:55,995
[paul_tyler]: or follow what’s the best way

822
00:38:58,105 –> 00:39:01,213
[martha_shedden]: well i’ll give you three emails

823
00:39:01,575 –> 00:39:01,779
[bruno_caron]: oh

824
00:39:02,155 –> 00:39:03,879
[martha_shedden]: if you want to reach out to
me personally

825
00:39:03,405 –> 00:39:03,425
[bruno_caron]: m

826
00:39:04,179 –> 00:39:06,765
[martha_shedden]: it’s martha nara

827
00:39:06,885 –> 00:39:07,905
[bruno_caron]: my

828
00:39:07,026 –> 00:39:09,391
[martha_shedden]: dot org n a r f

829
00:39:09,645 –> 00:39:09,867
[bruno_caron]: oh

830
00:39:09,752 –> 00:39:13,040
[martha_shedden]: a dot org and then for information

831
00:39:12,690 –> 00:39:12,890
[paul_tyler]: yeah

832
00:39:13,240 –> 00:39:15,099
[martha_shedden]: on our course as

833
00:39:15,479 –> 00:39:15,660
[paul_tyler]: yeah

834
00:39:15,555 –> 00:39:15,756
[bruno_caron]: oh

835
00:39:15,796 –> 00:39:24,437
[martha_shedden]: um imply in fo at r s
s a dot com and for help with

836
00:39:24,577 –> 00:39:31,686
[martha_shedden]: client cases that’s help r s s
a dot com um you can go to

837
00:39:31,767 –> 00:39:37,356
[martha_shedden]: narcadotorg or r s s a dot
com and learn a lot more there’s a

838
00:39:37,436 –> 00:39:38,378
[martha_shedden]: lot of resources

839
00:39:37,905 –> 00:39:38,127
[bruno_caron]: oh

840
00:39:38,538 –> 00:39:40,762
[martha_shedden]: on their frequently ask questions

841
00:39:41,205 –> 00:39:41,486
[bruno_caron]: oh

842
00:39:42,535 –> 00:39:46,460
[martha_shedden]: just reach out to us whatever questions
or information you need

843
00:39:46,800 –> 00:39:46,981
[paul_tyler]: okay

844
00:39:47,625 –> 00:39:47,826
[bruno_caron]: oh

845
00:39:47,664 –> 00:39:49,975
[paul_tyler]: excellent look at the notes will have
the links to click on

846
00:39:50,835 –> 00:39:52,755
[bruno_caron]: oh

847
00:39:52,630 –> 00:39:55,875
[paul_tyler]: no thank you martha thanks so much
enjoyed

848
00:39:55,695 –> 00:39:57,378
[bruno_caron]: m oh

849
00:39:57,618 –> 00:40:00,603
[paul_tyler]: enjoyed being on your show and thank
you for coming and joining us

850
00:40:00,585 –> 00:40:00,807
[bruno_caron]: oh

851
00:40:01,064 –> 00:40:03,889
[paul_tyler]: and again thank our listeners for you
know all your

852
00:40:03,984 –> 00:40:04,005
[bruno_caron]: m

853
00:40:04,149 –> 00:40:09,404
[paul_tyler]: support feed back keep it coming and
join us again next week for another episode

854
00:40:09,465 –> 00:40:11,525
[paul_tyler]: of that annuity show thanks

855
00:40:13,224 –> 00:40:13,591
[martha_shedden]: thank you

856
00:40:13,955 –> 00:40:14,238
[bruno_caron]: thank you