The Biggest Regrets For Retirees (And How to Avoid Them) with Kyle Britton – Ep 108

Retirement is often viewed as a financial milestone, but many retirees discover that their biggest challenges have little to do with money. Many wish they had retired sooner, spent more confidently, prepared for the emotional transition away from work, or started important planning conversations with their families earlier. The good news is that these lessons don’t have to be learned the hard way.

In this episode, Keith Ellis Jr. is joined by Kyle Britton to share insights gathered directly from retired clients who reflected on what they would do differently if they could start retirement over again. Together, they discuss the most common regrets they’ve heard from retirees, including delaying retirement, underspending despite having enough savings, losing a sense of purpose after leaving work, and overlooking important tax, estate, and legacy-planning opportunities.​

They also discuss why retirement planning extends far beyond investments, how a comprehensive retirement plan helps pre-retirees make more confident decisions, the value of gifting assets during your lifetime, and why having meaningful conversations with family can help preserve both wealth and relationships for future generations.

In this podcast interview, you’ll learn:

• Why many retirees wish they had stopped working sooner.
• How a comprehensive retirement plan creates confidence to enjoy your money.
• Why purpose and routine are essential after leaving your career.
• How proactive tax planning can preserve more wealth for your family.
• Why gifting during your lifetime may benefit both you and your heirs.
• How healthcare and legacy planning shape long-term retirement success.
• Why open family conversations can prevent future estate conflicts.

Inspiring Quotes

• “We really want people to spend and enjoy. And I think the biggest thing is the lack of confidence and clarity around that, where people do underspend. They hoard these assets because they really have a fear of running out of money.” – Kyle Britton

•  “People spend 30 to 40 years planning for retirement, planning the X’s and O’s, but almost nobody actually teaches you how to live in retirement.” – Kyle Britton

•  “A lot of people think, “Oh, they just wanna keep as much of your money as possible.” But we really want people to spend and enjoy. And I think the biggest thing is the lack of confidence and clarity around that, where people underspend.” – Kyle Britton

[INTERVIEW]

Keith Ellis Jr.: Welcome everybody to another edition of the Retirement Road Map, brought to you by SHP Financial. I’m Keith Ellis, along with Kyle Britton, one of the advisors here at SHP. And today, we got a really unique topic, I think. We have recently done a client event, what was it? Four or five weeks back now, and we had to spend quite a bit of time with the families, a lot of the families that we work with.

And one of the things we asked them, which was kind of a unique way to look at folks that are already retired is, what are some regrets? Or, like, what would you do different in retirement? Some of the people were recently retired maybe 6, 12, 18 months and just starting to think about things that they already would have done different, and some of the folks had been in retirement for a little while, and really had some, I think, pretty nice insight to help us, but also to help future retirees that we work with, help us push them to go enjoy life.

So, again, Kyle, thanks for joining us. And I know you went around and talked to quite a few people. I guess, maybe start us off with some of the things that you heard that kind of resonated with you.

Kyle Britton: Yeah, absolutely. Yeah, it’s funny, like Keith said, we had a great client event a couple weeks back, and it’s probably one of the ones that our clients look forward to most every year.

Keith Ellis Jr.: I would think so, yeah.

Kyle Britton: Yeah. And it’s funny because I think the big thing that we look at is, you spend 30 to 40 years planning for retirement, planning financially, planning the X’s and O’s, but almost nobody actually teaches you, like, how to live in retirement. And a lot of the questions we had, “Hey, how’s your family doing?” Great conversations with great people.

But one of the questions I was really intentional in asking was, hey, if you could go back to the beginning of retirement, turn the clock back, is there anything that you would do differently? Is there any regrets that you’d have? And it’s funny because a lot of people’s eyes kind of lit up when I asked them that, and everybody had a super specific answer, something that they could mention.

And some of the topics that we’ll cover today, the big ones that came up, everybody had an answer, the big one was retire earlier. Waiting too long to enjoy my life. Not understanding the emotional shift. This was a huge one. You go from your working years to, what’s my routine now? What’s the identity that I have? What’s my community in retirement?

Being too conservative with money, and we don’t necessarily mean, how are you invested, right? But being too conservative in the sense where I wasn’t spending or allowing myself to enjoy or utilize enough. Ignoring certain types of planning strategies. Not having purpose after work ended. Communicating goals with family. And then the last one, which is usually towards the end of life is healthcare and aging.

Keith Ellis Jr.: Yeah. It’s interesting because the one that you said resonated maybe the most was retiring, not retiring early enough and waiting too long to enjoy retirement. And I think some of that has to do with, and we see this all the time when folks come in. Folks will come in. They’ve saved, they’ve done a good job saving. One of the most rewarding things I think that we get to do is tell folks, “Hey, work is no longer a need, it’s a want.” You know what I mean? You don’t have to go to work anymore. You can stop, but if you want to continue to do that, you can.

And I think a lot of people don’t know that. And I think it’s, like, not having a plan in place. They’ve just saved and saved and saved and saved, and no one’s kind of looked at everything or wrapped their arms around their situation and showed them how this could potentially play out going forward. So, what are some of the things that people were saying in regards to that?

Kyle Britton: Yeah, that’s huge. I believe this was probably one of the biggest ones. I would say almost the majority of people.

Keith Ellis Jr.: Universal almost.

Kyle Britton: Were asking, “Oh, I wish I had retired earlier. I wish I had done one more year.” It’s probably the biggest emotional regret where I think people, they delay travel, they postpone experiences, avoid spending, they keep working one more year. I mean, you’ve been doing this for 25-plus years. Like, how many times have you sat down with a client and they come in and they say, “Oh, I’m going to do one more year”? And then you meet with them again, “I’m going to do one more year.”

Keith Ellis Jr.: Yeah, it’s amazing how many. It really is because in the back of your mind, you’re like because I learned from experience because my father passed away early. He worked his butt off and didn’t really get to enjoy any of his money. So, in the back of my mind, I’m like, “No, no, no, go enjoy.” But it’s like, they need to make that leap, so.

Kyle Britton: Yeah, that’s huge. And I think that’s, I mean, a real life example, unfortunately, it’s like life happens, right? Health changes, your parents pass away, maybe sadly, one of your spouses passes away, which we see all the time unfortunately. Mobility declines. You think about your grandchildren grow up and they get older. They’re probably not going to want to spend as much time with you anymore, or life just simply changes. I think you can kind of transition, like, out of those go-go years where you have kind of like the energy and the wherewithal to want to get out and go out the door. I think it changes a lot.

And a lot of people, they’ve saved for so long they’ve really never gave themselves permission to like fully enjoy this life, unfortunately. And that’s probably like, it’s probably the worst thing we see in our business as retirement planners is this person that can no longer do all the things that they saved their entire lives to do.

Keith Ellis Jr.: 100%. Yeah, I mean, health changes is a big one. It’s you’re never going to get back time, you’re never going to get back your health. And I think a lot of times, folks don’t realize that. We hear folks come in all the time that do travel, go enjoy their lives, and they’re like, “Hey, three, four years from now, I probably couldn’t do take that big trip because I’ve realized my health might be declining, or I might be in a different position.” And I think a lot of the times, people are often scar– I don’t want to say scared to spend money, but you’re right, they are a little bit more conservative in the way they spend because they don’t have that plan. They don’t have that confidence, and they don’t visit that plan ongoing, making the adjustments, making the proper tweaks to give them the confidence to spend, enjoy, give, participate, or whatever it is that they want to do because everyone’s goals are completely different.

Not everyone wants to retire, travel the world, go spend money. Some people want to stay local, spend time with their grandkids, do local trips, volunteer, whatever that is. But having that plan and that vision and that path to look forward allows people and empowers people to do that. So, yeah, retirement early, honestly, that’s the hardest one for me to watch, like you said, from our seat is because we’ve been doing this for so long and I’ve seen people retire, go through their retirement, health decline, and sadly pass. And you sit there in your seat and you’re like, “Hey, you can retire, I think.” But again, it’s up to them to do that. And I think it’s a lack of confidence of why people don’t, potentially.

Kyle Britton: Yeah. No, that’s huge, and I love how you keep bringing it back to the plan because the plan really has two major components to it, the first being, like, the X’s and O’s of the retirement and the financial plan, right? It’s building a plan that allows you to show, hey, your income is set, your investments, taxes, healthcare, legacy. We talk about this encompassing the five worlds of the retirement plan, and that’s what gives people the confidence, and that’s really what needs to take place first.

Keith Ellis Jr.: Agreed.

Kyle Britton: Before you can move to the psychological shift of retirement, right? You need to take care of the X’s and O’s first, and then you can dive into the emotional shift away from the financial, more to the psychological aspect.

Keith Ellis Jr.: Yeah, because think about it, you’ve been working for so long. You’ve created this routine, you have this identity, and so on and so forth, and all of a sudden, you retire and that stops. And you heard that a lot on that shift, right?

Kyle Britton: Oh, yeah. That was probably one of the biggest things is not understanding the emotional shift of retirement. Many retirees, they struggle with the loss of identity, the lack of routine, right? You’ve been working for 35, 40-plus years. You have your routine. You get up, you’re out the door. You have your community at work, your colleagues, what we like to call them.

Keith Ellis Jr.: Yeah, absolutely.

Kyle Britton: Which you might not like all these people necessarily, right? But hopefully, you have a couple of good colleagues from work. But you’re no longer around those people anymore. You don’t have that community anymore, and it’s really tough, like, transitioning to that. You’re going to be home more, spending time more with your spouse, which hopefully is a good thing, right? If they’re not kicking you out the door, right? But it’s really just having that purpose and clarity, knowing, hey, when you step out of the office for the last time, what does your routine look like? And unfortunately, I don’t think a lot of people really have that in place, like the community that they’re going to step to when they step out of the office.

Keith Ellis Jr.: I would say, yeah, you’re right, most people– there are some people that do, but for the most part, it’s an initial shock. But from my seat, it’s fun to watch people progress into retirement because they do get that routine. They do start to find that community. They do start to form that identity in that next phase of their life, and you can see their confidence start to grow. And I don’t mean confidence in, like, their confidence to enjoy retirement start to grow. It’s kind of a unique shift or transition that you see with people as you meet with them ongoing. It’s kind of fun to watch.

Kyle Britton: Exactly.

Keith Ellis Jr.: One of the other ones, and I think, you and I talk about this a lot with the families we’re working with, and I’m going to– I think we’re starting to see this a little bit more with the people that are retiring, like, right around now, and that’s being too conservative with your money. And it’s not necessarily, like you said, allocation or how you’re invested in the stock market. It’s you’ve saved quite a bit of money, and you’re spending nothing, you know what I mean? For lack of a better way, you’re not spending a lot because, again, maybe it’s a lack of confidence, nervousness as you go to this new phase. What I would say is I think a lot of the retirees now are starting to push that a little bit. What do you think?

Kyle Britton: Yeah, this is a huge one, and probably one of the more exciting topics for us to talk about where we really want to motivate families to spend and to enjoy, which might sound kind of the opposite of, like, financial planners. A lot of people think, “Oh, they just want to keep as much of your money as possible,” right? But we really want people to spend and enjoy, right? And I think the biggest thing is the lack of confidence and clarity around that, where people do underspend. They hoard these assets because they really have a fear of running out of money.

And they don’t allow themselves to really enjoy what they’ve built, and that’s why having the plan is so critical, and that’s why, like, our team does such a great job building these plans. Because we’ll sit down with a family and show them, like, “Hey, this is the base facts plan we built. You’re going to spend X amount of money each and every month. Like, you’re good to go.” But we had a family in here the other day asking about, “Well, what if we spent another $10,000, $15,000, $20,000 a year on travel? What if we started gifting X amount of money to our kids and our grandkids every year,” right? These are the things that they want to do, right? So, we built it into their plan. Come back to our team, sit back down with them again, and show them, like, “Hey, this is possible. You can absolutely do this. This is the impact long term on your plan. Like, now, it’s up to you to utilize and spend this money and use it.”

Keith Ellis Jr.: Yeah, again, providing that confidence, that forward look to say, “Hey, yes, you can do this.” How do you know, right? How do you know what you can do if you don’t have a plan? Which is why having that holistic retirement plan, building your income strategy, trying to maximize your pension, when you’re going to take Social Security, where your withdrawals are coming from and why? Why are we taking withdrawals from there?

Then revisiting your investment strategy ongoing, making sure it’s efficient, making sure it’s meeting your needs, making sure it’s meeting your income needs as well as your risk tolerance. Obviously, a huge piece of planning. Then we start to look at taxes, and here we’re looking at things like tax-loss harvesting, making sure we’re maximizing that each and every year, as well as the idea of IRA to Roth IRA conversions, addressing if there’s any– a lot of our clients have a Massachusetts tax issue. What are we going to do to solve that?

And then the healthcare, we’re going to continue to talk about that as we continue to talk here, because that was a big topic that people brought up. Do you need long-term care? Should we address long-term care? How are you addressing Medicare? Do you have the best supplements? We have the team to help with that.

And then the final thing is your estate planning, your legacy. Like, how is this all going to play out, if you’re a husband and wife, if something happens to one of you? But then once something happens to both of you, to the next generation, it’s really that holistic retirement plan. And what we call that here at SHP is the SHP Retirement Road Map. So, if you’re listening, you want to– whether you have some money saved, want a second opinion, please feel free to reach out, SHPFinancial.com. It’s a great way to contact us and a great way to get started to see what is possible in your mind. Can you do the things that you want to do in retirement? Or are you retired? And like Kyle said, living too conservatively and you want to see what is possible, that’s what we’re able to do for the families we work with. And that’s, to us, kind of the fun part of the seats because we get to live vicariously through our clients. They come back with some great pictures. That’s kind of fun, right, some of all the different things that they do.

So, again, going back to planning, ignoring certain planning strategies, I think one of the big planning strategies we’re seeing right now, and I don’t know what it is, a big shift since January 1st has been gifting. What do you think of that?

Kyle Britton: Yeah, gifting is a huge one, and this is something we talk about a lot. We use this phrase quite a bit, would you rather gift with a warm hand instead of a cold hand, right? Which kind of sounds morbid at first, but when you think about this, most people have a bucket of money, going to use some of that, right? How are you going to use it? Probably some is going to pass on to the next generation. Well, wouldn’t you want to see your family, your kids, your grandkids utilize this money more when they need it, right?

Keith Ellis Jr.: Yeah, exactly.

Kyle Britton: Like, think about it, right? If you have kids in their 20s, 30s, or 40s, they probably need money more than in their 60s or 70s.

Keith Ellis Jr.: Yeah, maybe they’re trying to start a business or put a kid through co– whatever it is, right?

Kyle Britton: Yeah, or even just vacation, like paying off debt, the mortgage, stuff like that. Like, life is expensive nowadays.

Keith Ellis Jr.: Homes are expensive, so maybe it’s that first home, right?

Kyle Britton: It’s an absolute fortune. And a lot of people don’t think about this, but it’s really expensive to live in Massachusetts. It’s even more expensive to die. There isn’t a death tax, an estate tax here, and by gifting while you’re still here actually benefits your heirs and beneficiaries more because you can lower your estate tax threshold below that minimum in Massachusetts.

Keith Ellis Jr.: Yeah, I mean, and again, that goes back to planning, taking a look at your future. How much are you spending? Where is it coming from? What is the projected rate of return? And kind of looking out, okay, when you’re 85, here’s where we project you’re going to be; 90, here’s where we project your estate’s going to be. And is there an estate tax issue? And if so, and you’re early 60s, mid-60s, late 60s or whatever it is, whatever age, if we can plan ahead and say, “Okay, we do have this potential estate tax issue, let’s start to work towards curing that today so then it minimizes the impact long-term.” How do you know that if you don’t have a plan in place, right?

Kyle Britton: Yeah, that’s a great point. Shifting back to the X’s and O’s of retirement planning, a huge issue is built around tax planning. And we preach this all the time, it’s not about what you make, what you keep, but also what your family keeps. Because what we see all the time is, folks come in, they have very large pre-tax balances. They’ve done a great job saving in 401(k) plans, 403(b)s, IRAs, deferred comp, so on and so forth, but the problem is you basically have this massive tax bomb, right? Your RMDs are going to explode down the road, which is going to impact the cost of healthcare through IRMAA, federal state taxes. Heaven forbid, your spouse passes away, you’re no longer filing as a joint tax filer, but a single tax filer.

Keith Ellis Jr.: Often overlooked, and I would say very overlooked at that.

Kyle Britton: Yeah. Nobody thinks, but your tax rate’s basically cut in half, but there’s really a sweet spot where, until you reach that RMD age or potentially beyond that, but RMD, if you’re born prior to 1960, your RMD age kicks in at 73, or after 1960 is 75. That’s really the sweet spot, and so much planning can be done because after that, you’re forced to take out these. So, maybe touch upon kind of what you’ve seen and how we address these concerns that people have.

Keith Ellis Jr.: Yeah, I mean, it is. When you map out that plan and be able to put that in front of someone and say, listen, if you do nothing, here’s this huge tax issue that you have. Okay, you’re 62 today, 63 today, 65 today, you don’t have to take your RMD, say, for 10 years, what I always say is, okay, you have this compounding tax issue, right, if you don’t do anything, and you’re kind of kicking the can down the road into the unknown. And what do I mean by that is the unknown is what are the tax rates going to be 10 years from now?

And it really comes down to, if you start to look at things like national debt, spending, things like that, at some point, rubber’s got to meet the road where we got to take control of this or start to potentially look to pay this down. And what’s the low-hanging fruit? Again, it’s required minimum distributions. You’re forced to take them. People, everyone’s saved in their 401(k)s or that’s where the massive balances are, and sadly, all it takes is the stroke of a pen for the government to take more of your money, and there’s nothing you can do about it. So, we’re trying to get ahead of it in regards to transitioning and planning, saying, hey, look, you make, for example, $100,000 a year. Here’s three or four different conversion scenarios depending how you want to handle this, and here’s the impact on your federal tax rate, here’s the impact on your state, here’s the impact on your Medicare costs, which often people forget.

One of the things I think we glossed over quick was, again, say it’s a husband and wife, right? And you have this $2 million IRA balance, million-and-a-half dollar IRA balance, and you let it compound for 10 years. Let’s just say it’s 7.5% or 7.2%. That’s going to double. God forbid something happens to one of those spouses, well, now, that single spouse is left with this– I mean, it’s a $3 million, $4 million IRA. That’s quite a bit of money. That’s great.

But the problem is now you’re forced to take these distributions at a single tax filing rate. And it’s so often overlooked, and it’s part of planning that needs to be discussed. So, I don’t want to gloss over that, but these are the things that we are looking at and trying to better position the families, that we work with, both now and the long run, and then I would also say intergenerationally.

Kyle Britton: Yeah, and two quick stories come to mind. The first, we met with a family a couple months ago, and they came into our office. They had done a great job. They had saved in, I guess, all the right places you could say, and they had been working with another financial planning firm for almost 30, 35 years. We’re not going to name any names here. So, the husband, he asked his planning team, he said, “Hey, I’ve been reading about this issue built around taxes in Roth conversion planning. Is this something I should be doing? Like, how would we address this?” And the financial planning team, they said, “Oh, you should probably check in. You should ask your CPA and your accountant.”

So, the gentleman, he goes and asks his CPA and his accountant, and they said, “Ah, you should go and ask your financial planning team,” right? So, it’s like they’re kind of pointing the finger back and forth, and it gets to the point where this family, there was almost like a catastrophic tax issue that was coming down the pike later in life. So, we sat down with them, showed them, “Hey, this is what we can do, build a plan built around X, Y, and Z, and potentially save you guys, like, hundreds and thousands of dollars in taxes.”

Keith Ellis Jr.: Yeah, absolutely.

Kyle Britton: Over the duration of their plan and add almost upwards of seven figures long-term value to their plan and to their estate and beneficiaries over time. So, that’s just one instance. The second instance, real-life example that we saw, Keith, you mentioned, if you don’t address this now, eventually, the train’s going to come down the track and there’s going to be this massive tax bomb, right? Not only that you’re going to have to pay, your spouse is going to have to pay, but the kids will have to pay. So, maybe you could touch upon briefly, kind of what we’re working with the son and the daughter right now.

Keith Ellis Jr.: Yeah. I mean, sad situation was working with a woman for about three years. She had lost her husband in early 60s, and sadly, she passed too. And they had saved extremely well. The estate was probably, with real estate, 11 million-ish in regards to overall value. And sadly, the majority of the money was saved in the IRA. And our thoughts were, early 60s, we got plenty of time to do these IRA to Roth IRA conversions to better position the assets for the kids, and then sadly Mom passes.

So, the kids inherit a $6 million IRA, 50/50, and they’re both very successful. So, as they are forced to take distributions from the IRA, because under the SECURE Act, these IRAs have to be distributed within 10 years. So, the last dollar has to be out of those IRAs within 10 years. So, each of them have $3 million in IRA sitting, inherited IRAs from mom and dad. But every year, I mean, they could not pull it, let it compound, continue to grow, but as they get more and more successful.

So, think about it, you’re making, say, $300,000 as a family, now you’re adding at least another $300,000 distribution, you’re pushing your tax rates to almost double. So, who wins in that situation? Uncle Sam, right? He’s just taking more of the money. So, ideally, when we’re planning, this is what we’re trying to plan for, this long-term strategy where we’re trying to get ahead of these types of things and really put both mom, dad, or husband and wife in the best situation long term, but then also the family in the best situation long term, so yeah.

Kyle Britton: Exactly. It’s all about preserving wealth. And I think the big thing when it comes down to a lot of this stuff is people’s biggest regrets in retirement isn’t necessarily, “Oh, I picked the wrong stock at this point,” right?

Keith Ellis Jr.: Exactly.

Kyle Britton: It’s based around so many different areas of planning, and that’s the biggest thing that we see, is we really want to just work alongside these families to make sure we’re at least looking at all these areas, taking advantage of the markets, the current tax code that, believe it or not, is actually generous right now, which is hard to believe.

Keith Ellis Jr.: People don’t realize that. It is very generous.

Kyle Britton: They don’t, right? But at some point down the road, that’s most likely to change, so it’s like, hey, let’s take advantage of the playing field that we’re given today.

Keith Ellis Jr.: Yeah. I think the last one is really, we touched on it maybe a little bit earlier, is enjoy it while you can because healthcare, aging, things like that, I don’t know if you want to touch on that or what’s some of the folks said on the boat.

Kyle Britton: Yeah. So, probably the least exciting thing of retirement planning is talking about getting older, aging, Medicare, right? Obviously, there’s a huge shift, and the biggest thing that we believe is important is looping in the families, right? Maybe not necessarily talking directly about numbers, but, hey, son, daughter, right? These are the goals. These are the wishes that I have. This is kind of what I’ve built, your mother and I, whatever the conversation is, just making sure that there’s no estate chaos or inheritance confusion at the end of the day. And we really believe that having an estate plan and a legacy plan is critically important. Not only the fact that we live in Massachusetts, but just the federal government tax code doesn’t make inheritance, really that simple to understand, and that’s why we believe it’s so important.

Avoiding those uncomfortable conversations, have that conversation, right? And again, it’s not necessarily about these exact Xs and numbers and the actual figures itself, but you just want to make sure everybody’s on the same page because unfortunately, we just see families deteriorate over money, and it’s such a sad thing. It’s such a sad thing to have happen. I mean, I’ve seen that in family members myself and close loved ones, unfortunately. So, just have those conversations, as uncomfortable they are.

Keith Ellis Jr.: Yeah, I mean, you’re absolutely right. We have clients, and I think in a good way, that really obsess about this, and they obsess about their estate plan. They obsess about their distributions. They obsess about their family and how it’s going to play out beyond them. And I think the best thing you can do without numbers is just communicate, right? Like, here’s Mom and I’s wishes, or you know what I mean? This is what we want for you. This is why we did what we did. This is why we built what we built. So, it’s clear and everyone’s on the same page, because once you’re gone, infighting can start.

Like you said, we’ve seen it too many times, and we do the best we can, and it’s because we listen to their goals. And we try to communicate to the kids, but the trusts are the trusts or the wills are the wills, and the plans are the plans. And at the end of the day, that’s how things need to go. That’s how it needs to be abided by. So, we believe communication, communication of goals, communication to your family is a big thing.

And again, it doesn’t have to be numbers. It’s just concepts and strategies. So, yeah, I mean, and like we said earlier, one of the final regrets is, I believe, people delaying, delaying too long to do the things that they want to do and then, again, regretting that they didn’t do them. So, I don’t know if anyone touched on that on the boat or not. And I keep saying boat. Can you edit that?

Kyle Britton: That’s fine, yeah.

Keith Ellis Jr.: Can you touch on that?

Kyle Britton: Yeah. It was in the middle of the thunderstorm wrapping.

Keith Ellis Jr.: Yeah, exactly. You can edit this all, right?

Kyle Britton: Yeah. And I think we’re wrapping up in a minute.

Keith Ellis Jr.: Yeah. I’ll do, like, a quick wrap at the end, so just go ahead.

Kyle Britton: Yeah, again, the big thing, so many people, they just– and don’t get me wrong, like, money is a great tool, right? But that’s really the thing is money is the tool. It’s not the goal. And unfortunately, I think people become so focused on that, right? But what I would ask people is, (a) do you have a plan, right? Do you know what’s possible? Do you want to see what’s possible? What are you postponing until retirement, right? If your health changed tomorrow, would your priorities change?

And I think these are the real-life things that people get smacked in the face with, but sometimes it’s too late, right? Are you prepared financially for retirement? A lot of people just prepare financially, which is great. We want to do that, but now you need to begin to plan emotionally. And what does an actual meaningful retirement look like to you? What gives you purpose? What gives you identity? Which is so huge.

Keith Ellis Jr.: Yeah, I think that’s one of the more, I guess, fun conversations or meaningful conversations that we have is, you have all this, what does it mean to you? Like, what do you want to do with this? And that shifts. Like, people retire at 60, 65, then it shifts at 70, 75. It shifts at 80, 85. And that’s what the beauty of having a plan, like a holistic plan, is we’re always changing, always moving with the families that we work with.

And that’s what we do at SHP Financial, is we want to build the families we work with a holistic retirement plan where we build an income strategy, build an investment strategy that meets their goals, maximize tax planning for them, their family, the next generation, look at different healthcare strategies as needed, and have a team to do so. And the final thing is how we build it all and how we wrap it all up is working with attorneys to help build that estate plan so then everything moves efficiently the way that we want to tax efficiently, generationally efficiently, as well as making sure your income’s coming to you efficiently.

So, again, best place to find us is SHPFinancial.com. That’s SHPFinancial.com. If you want to take a look at what a plan can do for you or if you’ve saved and you just want to know what’s possible, please reach out, SHPFinancial.com. Thanks again. Have a good weekend.

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