2 years ago

Alabama financial guru: Do you have a plan to cover the necessities in life DURING your retirement?

Birmingham, Alabama-based financial guru Jeff Roberts, who was recently named one of the top private wealth advisors in the nation by Barron’s®, came on Yellowhammer Radio to lay out the facts so people can decide for themselves.

The full conversation with Mr. Roberts can be heard on the Yellowhammer Radio podcast or in the video above, and a lightly edited transcript of his interview with Yellowhammer’s Andrea Tice can be read below.

Subscribe to the Yellowhammer Radio Podcast on iTunes. Learn more about Jeff Roberts’ private wealth advisory practice at JeffRobertsAndAssociates.com.

Andrea Tice:

Welcome back to Yellowhammer Radio. On the show with us today is local financial guru, Jeff Roberts. Jeff is the founder of Jeff Roberts & Associates, and his team of seven advisors can help simplify your complex wealth management needs. They are exceptional financial advisors who have provided sophisticated financial planning and advice to high-net-worth clients for a combined number of years, 131 combined years. We’re going to have him on the show. The seven people, Jeff, are you there?

Jeff Roberts:

I am indeed.

Andrea Tice:

Yeah, hey, Jeff.

Jeff Roberts:


Andrea Tice:

I just noticed that the seven advisors you have on your staff matches up with the seventh award you received recently from Barron’s Top 1,200 Advisors for 2017, so that’s a nice matching there. I think so.

Jeff Roberts:

It is coincidental, but wonderful. Those are the very people that help us to serve clients extremely well and to be recognized by Barron’s, in addition to the tremendous team that we’ve got of client support staff. The new one we brought in today, his name is Courtney. I’ll give a shout out to for-

Andrea Tice:

Oh, okay. Her first day?

Jeff Roberts:

Being on our team and serving our clients well.

Andrea Tice:

That’s great. That’s great. Hi, Courtney. Glad to have you on board, too. Last week, you introduced the 3-Minute Confident Retirement check that was found on your website. Everybody has three minutes to spare, so it was good that you pointed that out for people who want to find out where they are in the future for retirement. I know you planned to drill down today on the Confident Retirement approach, so you want to start out with that?

Jeff Roberts:

Absolutely. Absolutely. The Confident Retirement approach is kind of an exclusive tool that we use when trying to help clients who are trying to get that word “confidence” and weave that into their life when they think about their future retirement plans, or even while in retirement. It gives us a straightforward framework to create a sound retirement plan, it provides an income for a lifetime, and it’s composed essentially of four components. If you think about the Confident Retirement approach, the easiest way to do it is, I want you to think of the four components, and in your head, I want you to picture a triangle. If you break the triangle into four horizontal layers, if you will.

The widest layer sits on the bottom of the triangle, and that’s the section that we call covering essentials. That is necessities in life that we simply have to cover. The next layer up is going to be ensuring lifestyle, and that’s lifestyle expenses that include the goals that you have for retirement like travel, and dining out, and hobbies, and that sort of thing. The next layer up is going to be the unexpected things that pop into retirement where we’re preparing for the unexpected. Those are the things like accidents or disability, and making sure that you’ve built into your sound retirement plan, the unexpected. The last tip of the iceberg, so to speak, the tip of the triangle is leaving a legacy. That is passing to survivors, families, charities, and causes that are important to you the wealth that you’ve been able to accumulate.

What we’ve found is if you break down those four basic areas of if can make sure that you can cover essentials, you assure that you have income to provide for your lifestyle, prepare for the unexpected, and leave a legacy, if you tackle those four things, then you simply will have confidence in planning toward retirement or in retirement. So it’s a framework.

Andrea Tice:

Yeah. I remember seeing that on your website when you directed us to that page where you start the 3-Minute Confident Retirement check. Let me ask you this. Let’s drill down a little bit more on just that first initial base, that foundational base of the triangle where it’s covering essentials. Can you give us examples for people who are listening to understand what is an essential expense.

Jeff Roberts:

Yeah. The first thing, and I figured over the next couple weeks, we would tackle each one of these layers of the triangle.

Andrea Tice:


Jeff Roberts:

The first one being covering essentials, which, if you think about it, any foundation of retirement strategy, it starts with covering all the essential expenses that are considered predictable and recurring. These are the ongoing essential necessities in life. Because financial markets are uncertain, we believe that essential expenses should be covered by solutions that are guaranteed and provide stable income. Virtually everybody in retirement has already accumulated one or maybe multiple forms of a guaranteed income or stable income that they have in place, notably for example, social security. Some people might have a defined benefit plan sometimes called a pension. Those are components that provide a guaranteed income to cover the expenses that we know are going to be there no matter what every single month.

Andrea Tice:

Okay. You’re mentioning these stable income sources that you’re going to use to cover the essentials, and we could go down a long road for a long time on even just one, but you want to just quickly give us some of the complexities of just one that you have to deal with?

Jeff Roberts:

Yeah. Let me start with a couple just to breakdown the expenses themselves that are common. For example, we see expenses as things like mortgage payments that people might have for a period of time in retirement, if they still have a debt for a period of time. That’s going to be something that’s there every month. Home maintenance expenses, those are going to be there pretty much regularly. Food, you’re going to have a grocery bill regularly. Medical expenses, you’re going to have that systematically, too. Utility costs, real estate taxes, insurance premiums. Clothing expenses, probably not as much in retirement as essentials, but some. Taxes, regular federal and state taxes. Those are things that when you get up every single month, you’re going to have those expenses that have got to be covered. Those are examples of the expenses.

To your point on incomes, we believe that there should be certain sources of incomes that we set aside to tackle just the essentials. For example, we mentioned social security being one. That can be a fixed guaranteed income. Some people have a pension. It’s going to be fully covered or insured pension that will provide some income as well. If you don’t have that income source, you might consider things like an immediate annuity or a variable annuity that includes a Living Benefit Rider for life. You can have a certificate of deposit that’s FDIC guaranteed, or face-amount certificates where the principle’s guaranteed. U.S. Federal Securities. Those are all examples of vehicles that can provide a guarantee of income to where people in retirement can know no matter what I do, no matter how much I screw up myself financially, I have these guarantees that are going to cover those essential expenses.

Andrea Tice:

Wow, that’s great. You clearly have a lot of options in your portfolio to advise people about in getting that one level, that base level established and on its way, so that’s really-

Jeff Roberts:

And you make a good point when you ask that question a second ago. Well, if we pick one of those and drill down any one of those, what are some of the questions or things that we might need to be considering just for one of those different sources? I could pick one like, say, social security. Remember, there’s so much complexity to all of this, and we try and make it easy for folks, but just to give you an example.

If you’re just trying to focus on the easiest and most guaranteed of incomes in retirement social security, there’s a whole litany of questions that you’ve got to ask, like how old will you be when you retire? Because that significantly impacts how much your social security retirement check is. Will you take social security early, at full retirement age, or let it grow 8% per year after that all the way to age 70? Your health, how is your health? That is going to determine your social security or whether you might want to take it now or not. Your spouse’s health might have an impact on when you take social security. Will you work after age 62? That will determine some impact on your social security. Will you make more than the $16,920 earnings limit while being in retirement and having social security?

Those are, I don’t know, six or seven questions that dramatically impact just one decision of taking social security, and if you’re looking at multiple pieces all on this one level of covering essentials, you can realize there’s a lot to take into consideration.

Andrea Tice:

Wow, yeah. If anything, Jeff, you’re the man who provides the questions that need to be asked, and then the answers.

Jeff Roberts:

That’s the goal. That’s the goal.

Andrea Tice:

Yeah. If anyone has an interest in getting help or they want to be more confident towards their retirement, what should they do?

Jeff Roberts:

The easiest way is reach out to us at (205) 313-9150, and we’re happy to arrange a time to talk or get together. A couple tools, you can go on to jeffrobertsandassociates.com, and if you’ll scroll down, you’ll find very easily a 3-Minute Confident Retirement check, which is a tool that will help you to figure out where you are in terms of your own level of confidence in planning for retirement. We’re happy to help any way we can with folks.

Andrea Tice:

All right. Yes, I have been on the website. We did it last week. It was very simple, very nicely done, easy to access. For those who are interested in going through that checklist, you can do that. There’s no problems with that. They’re not necessarily going to get a call just by going on the website. They’re just going to go through-

Jeff Roberts:

No, no, no. That’s a great point. If you go to the website, it’s just an online tool. You have the ability when you complete the 3-Minute Retirement check, if you want to pass that on …

Andrea Tice:

Did I just lose him? I think I just lost him. Are you there, Jeff?

Steve West:

I think we’ve lost him.

Andrea Tice:

Uh oh. I’m still on the air, right?

Steve West:

Oh, yeah.

Andrea Tice:

Okay. All right. Jeff, I’m so sorry. We lost you, and we’re about to head into a break, so let me just wrap it up.

If you need to call Jeff, Jeff Roberts & Associates, (205) 313-9150 is the number. Then, like he said, you can go to the website, which I’m going blank on, jeffrobertsandassociates, that’s right. Look it up on the internet, and you can get to Jeff Roberts & Associates that way.

Also, we just covered the four parts of a Confident Retirement. We’re going to do the next three in the next three weeks. The first one he just covered was covering the essentials, and there’s a lot to consider there. He asked a lot of questions. It’s very thorough, and he drills down because it’s so important to cover the essentials and to have a stable income in your retirement that will cover the essentials. So if you need help with that, call Jeff Roberts.

2 hours ago

Tuberville backs Alabama legislator’s bill making murder of on-duty first responder a capital offense

Former Auburn University head football coach Tommy Tuberville is backing HB 59, the bill passed by the Alabama Senate on Thursday that would make killing an on-duty first responder a capital offense.

The bill as amended and passed by the Senate names the proposed law in honor of slain Auburn Police Department Officer William Buechner, who was shot and killed in the line of duty on Sunday night.

Sponsored by State Rep. Chris Sells (R-Greenville), HB 59 passed the House previously. The amended version goes back to the chamber for expected concurrence next week.

In a statement to Yellowhammer News, Tuberville applauded the legislature for the bill, especially thanking the Senate for the amendment in Buechner’s memory, which was put onto the legislation by State Sen. Tom Whatley (R-Auburn).


“I commend the Alabama Senate on their bill which makes the murder of an on-duty first responder a capital offense,” Tuberville said. “Murdering a first responder in Alabama should be classified as a capital offense. Not just police officers are covered in this bill all first responders are covered!”

The bill adds on-duty first responders to the list of murder victims that constitutes a capital offense. State law already makes the murder of an on-duty law enforcement officer or prison guard a capital offense.

Note the difference between a Class A felony murder charge and a capital murder charge: capital offenses in Alabama are punishable (unless the defendant was under the age of 18 at the time of the crime) by life in prison without the possibility of parole or death. Class A felonies are punishable by 10-99 years in prison, with stricter guidelines for offenders with prior criminal convictions.

Sells’ bill would also add on-duty law enforcement officers, prison guards and first responders as victims in the list of aggravating circumstances to a capital offense. This would make the death penalty more likely in the sentencing phase of this kind of capital offense.

In HB 59, first responders are defined as emergency medical services personnel licensed by the Alabama Department of Public Health and firefighters and volunteer firefighters as defined by existing state law.

Lee County District Attorney Brandon Hughes has said he will seek the death penalty if the man charged with Buechner’s death is convicted on a capital murder charge.

Tuberville’s vocal support for the bill came the same day as Buechner’s funeral.

“Today, as Officer William Buechner is laid to rest, we celebrate his heroic life and the ultimate sacrifice he made to protect our citizens,” Tuberville emphasized.

On Friday, Tuberville also visited Auburn Police Department Officer Webb Sistrunk, who was critically wounded in the shooting that killed Buechner.

(T. Tuberville/Facebook)

“It was such an honor for me to visit with Webb Sistrunk, one of the brave Auburn police officers who was shot earlier this week,” Tuberville shared.

Tuberville with Mark Sistrunk, the officer’s father (Contributed)

Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn

2 hours ago

‘Our hero’: Slain Auburn officer’s neighborhood lights up blue to honor him

Neighbors of murdered Auburn Police Department Officer William Buechner are backing the blue in a very visible way, honoring the fallen hero’s life of selfless service.

As reported by WSFA, the Opelika subdivision that Buechner and his family lived in is showing their solidarity en masse.

In a moving tribute, many of the neighborhood’s homes have replaced their regular porch lights with blue lights, shining proudly in Buechner’s memory.

Tracy McDaniel is among those neighbors paying tribute to the officer and beloved community member.


Tracy McDaniel’s home, as contributed by her. (Sally Pitts/Facebook)

McDaniels’ home is far from the exception. One photo shows an entire street the neighborhood turned blue to honor the fallen officer.

Photo by Samantha Xaysombath Smith (WSFA/Twitter)

“William was a lot of great things. A great man, friend, husband, and father, police officer, neighbor, the list goes on,” Smith explained. “His son will grow up to learn that his daddy was a hero, and we will forever remember that he was our hero too.”

Another woman in the neighborhood, who asked to remain anonymous when speaking with WSFA, said she was aware of at least 15 homes participating in the special tribute but expected that number to increase.

“We all have rallied to find each other more lightbulbs,” the woman said, “and contact those who have been out of town or may need assistance reaching their fixtures. It’s been a true team effort.”

The lights are reportedly expected to remain on at least through Saturday, the day after Buechner’s funeral.

Buechner is survived by his wife of three years, Sara; son, Henry; and step-daughter, McKenna.

“This village we speak of, he knows we will take care of Sara and the family,” Smith added. “After all, it does take a village. We back the blue.”

There has been a GoFundMe set up for Buechner’s family.

Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn

3 hours ago

Palmer introduces bill to stop federal funding of anti-ICE ‘sanctuary airports’

Congressman Gary Palmer (AL-06) is taking a major stand against airports in liberal strongholds that try to subvert federal law.

Palmer’s office on Thursday announced that the Birmingham-area congressman has introduced the PLANE Act, the Prohibiting Local Airports from Neglecting Enforcement Act (H.R. 2955).

In April, an airport in Seattle, Washington, banned flights known collectively as “ICE Air,” which included flights that deported illegal immigrants or transported detainees to the appropriate detention center.

If passed, the PLANE Act would withhold federal grants from airports that violate grant agreements by attempting similar action, such as imposing unreasonable conditions or restrictions on airplanes operating under ICE or other contracted government agencies.


“Airports that refuse to cooperate with ICE should not receive federal grants,” Palmer said in a statement.

“The rule of law must not be thwarted by so-called ‘sanctuary airports,’ especially when they potentially delay the removal of people accused of crimes like human trafficking and rape,” he added. “Political posturing cannot be permitted when an airport has agreed to cooperate with law enforcement in exchange for federal funds.”

Palmer is now serving as the chair the Republican Policy Committee, which is the fifth highest ranking leadership role amongst Republicans in the United States House of Representatives.

Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn

4 hours ago

Rumors and Rumblings, 2nd Ed. Vol. VIII

“Rumors and Rumblings” is a regular feature on Yellowhammer News. It is a compilation of the bits and pieces of information that we glean from conversations throughout the week.



1. Hey Arnold! State Rep. Arnold Mooney (R-Indian Springs) caused a bit of a stir this week when he introduced a request to censure State Rep. John Rogers (D-Birmingham) for comments Rogers made during the chamber’s debate of the abortion bill. Numerous GOP House members were upset by the move, not so much for the substance of the request as much as for the timing — and the perceived motivation behind it.

The request came as the body was attempting to address a “ten-minute” calendar of bills. The aim of a ten-minute calendar is to quickly dispose of some of the more mundane pieces of legislation with the idea being that each member gets ten minutes to pass their bill or else the House moves on to the next item. As soon as Mooney introduced his letter of censure, the environment in the chamber became hostile, resulting in an adjournment and the end of the calendar. Dozens of members lost the opportunity, at that point at least, to pass their individual pieces of legislation, including an anti-human trafficking bill and legislation to help feed needy children in the state.

Some members wondered why Mooney waited nine days to introduce his letter. His letter was dated May 13 and not introduced until May 22. This event came on the heels of Mooney previously sending out a campaign letter to supporters questioning the ideological bearings of his fellow Republican legislators. When asked if Mooney had expressed any of these concerns to the GOP caucus at-large prior to his candidacy for the U.S. Senate, one member responded, “No. He had not.”

2. A tale of two cities. As Mooney spent the week trying to burnish the type of outsider credentials attractive to Club for Growth, another one of his colleagues spent his week in D.C. trying, presumably, to lay a similar foundation. State Rep. Will Dismukes (R-Prattville) was boots on the ground in the nation’s capital this week. Dismukes has let it be known that he was contemplating his own run for the U.S. Senate. He has done a fair job of keeping those cards close to the vest, although his trip to Washington would lend to the notion that he continues to have interest in a federal office.

The mathematical side effect of Dismukes’ absence nearly reached a heightened level of consequence. Consideration of any legislation prior to the passage of both budgets requires a 3/5 vote of those in the body voting. The lottery failed this week because it did not receive the required 3/5 threshold of those voting. In Dismukes’ absence from the state, someone voted his machine on his behalf as an abstention rather than simply not voting at all. He was the only legislator to vote to abstain. This still raises the threshold of required votes.

There were 90 total members that voted — which means the lottery needed 54 votes to proceed. It only received 53. Had someone not voted Dismukes’ machine and 89 members had voted, the lottery would still have needed 54 votes but by a much slimmer margin since 3/5 of 89 equals 53.4. That’s how close the lottery came to advancing to full consideration by the House.

3. Is broadband really a priority for members of the Alabama House? While the state legislature’s budget negotiations have been relatively smooth so far this session, there is one major issue that has seemingly popped up at the last minute.

Senate President Pro Tem Del Marsh (R-Anniston) and Senate Finance and Taxation Education Chairman Arthur Orr (R-Decatur) put $30 million in the Senate-passed Education Trust Fund Budget for the state’s rural broadband grant program established last year by State Senator Clay Scofield’s (R-Guntersville) landmark legislation.

As the legislature continues to work on beefing up last year’s legislation through Scofield’s SB 90 this year, the House is now seemingly set to slash the broadband funding approved by the Senate. The House Ways and Means Education Committee this week approved an education budget that cut the broadband funding by 73%, dragging the total down from $30 million to only $8 million.

Proponents of the larger number have said that there is not a better use of one-time money than to expand broadband services across the state. Will Chairman Bill Poole (R-Tuscaloosa) and the House at-large work with the Senate and restore the important broadband funding?

4. Art of the Deal. Senator Richard Shelby (R-AL) once again proved his master negotiating skills this week, securing a crucial disaster relief package deal against seemingly insurmountable differences between the increasingly polarized factions in Washington, D.C.

This package will provide much-needed aid to many in the Yellowhammer State, including those in southeast Alabama devastated by Hurricane Michael.

Shelby bridged the gap between Republicans and Democrats in Congress, while even managing to get President Donald Trump to drop his demands to include non-disaster related earmarks in the package — a concession that was key to getting enough votes in the Senate and House. The legislation quickly passed the Senate 85-8 Thursday before a lone House member objected to its unanimous passage on Friday. The House can take the legislation up after Memorial Day on Tuesday, when it is expected to overwhelmingly pass that chamber and then be signed into law.

One keen observer told Yellowhammer News that this type of achievement will not make nearly the number of headlines it should back at home, but once again Shelby has delivered for his state as he continues to cement his legacy as “Alabama’s greatest statesman.”

4 hours ago

Alabama legislature passes bill to ensure accuracy in meat labeling

MONTGOMERY — The Alabama Senate on Thursday took steps to ensure that the definition of “meat” when applied to food labeling should only apply to products sourced from livestock on farms and ranches and harvested through processing; the bill clarifies that laboratory-grown products may not be labeled as meat, protecting Yellowhammer State consumers from potentially misleading packaging.

In a unanimous vote, the Senators passed HB 518, sponsored by State Rep. Danny Crawford (R-Athens) and State Sen. David Sessions (R-Grand Bay). The bill was previously passed by the House 97-2 and now heads to Governor Kay Ivey’s desk.

“This is proactive legislation to ensure clarity in food labeling. Around the country, there are more and more companies trying to market lab-grown products as meat, which is misleading since they aren’t derived from actual livestock production,” Sessions said in a statement.

Sessions pointed out that the nutritional and safety risks of foods developed in labs from animal cell cultures are still unknown.


“These new lab-produced foods are, at best, synthetic meats, and their nutritional effects are unknown right now. Let’s see how the science develops through further research, and make a clear distinction between meat that is farm-raised on the one hand, and lab-based products on the other,” he advised.

The beef cattle industry represents a $2.5 billion industry in Alabama and is the number two agricultural commodity in the Yellowhammer State, with over 20,000 cattle farms. Beef continues to be a favorite protein among consumers worldwide, with exports of American beef representing an $8 billion industry by itself.

“The Alabama Cattlemen’s Association represents over 10,000 members across the state. As alternative proteins enter the marketplace in coming years, we think it is imperative that the integrity of all meat labels are protected and clear for consumers when they go to the meat case,” Erin Beasley, executive vice president of the Alabama Cattleman’s Association, commented.

She concluded, “The passage of this bill is a win-win for the consumers who love to buy beef, and the cattlemen who work hard to produce a high-quality product. We would like to thank the Alabama Legislature for the support of this bill, and especially Senator David Sessions and Representative Danny Crawford for carrying the bill.”

Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn