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# Rubino & Liang Wealth Partners

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## Posts
- [Love, Money and Retirement – Why “We’re Fine” Isn’t a Plan](https://rlwealthpartners.com/love-money-and-retirement-why-were-fine-isnt-a-plan/): Loving relationships aren’t built on assumptions.
- [Why Net Worth Alone Doesn’t Determine Retirement Success](https://rlwealthpartners.com/why-net-worth-alone-doesnt-determine-retirement-success/): Many pre-retirees assume hitting a certain savings number guarantees a successful retirement.
- [The $150,000 “Curveball” Coming For Your 401(K)](https://rlwealthpartners.com/the-150000-curveball-coming-for-your-401k/): Every year brings new tax rules, and 2026 is no exception.
- [The $10k Per Month Retirement Spending Trap Nobody Warns You About](https://rlwealthpartners.com/the-10k-per-month-retirement-spending-trap-nobody-warns-you-about/): The ten thousand dollars a month retirement spending trap that no one warned you about. In today's video, we'll be revealing the dangerous ten thousand dollars a month retirement spending trap that destroys financial security for retirees who don't understand the savings requirements behind this lifestyle. Through working with hundreds of clients who fell into the spending trap, we've discovered most people assume they can spend ten thousand dollars per month in retirement without understanding they need three million dollars in savings, plus additional income sources to make this sustainable. That's exactly why we're making this video, to expose the ten thousand dollars monthly spend in travel, to show the real financial requirements behind this lifestyle, and to reveal how people destroy their retirement security by spending without a proper foundation. Let's get right into it. So what are the actual financial requirements to safely sustain ten thousand dollars in monthly retirement, especially when considering the significant impact of taxes? The numbers are often far larger than people expect for their net spending needs. Let's consider our case study. You have John and Sarah Johnson. They are aged sixty two and sixty respectively, nearing retirement here in Massachusetts, and believe they'll need roughly ten thousand dollars per month to maintain their desired lifestyle. That's one hundred and twenty thousand dollars per year. Now, if you're primarily withdrawing from tax deferred assets like traditional 401Ks, IRAs, that one hundred and twenty thousand dollars will be considered taxable income. Depending on their other income deductions and filing status, a significant portion could go to federal and state income taxes. So for illustrative purposes, let's assume their effective combined federal and state tax rate on that one hundred and twenty thousand dollars could be around fifteen to twenty percent after various deductions and credits. That means they could lose eighteen to twenty four thousand dollars of that one hundred and twenty thousand dollars to taxes, leaving them with only ninety six thousand to one hundred and two thousand dollars in net spending power. So, if the Johnsons actually need ten thousand dollars per month to live their desired lifestyle, their gross withdrawals would need to be much higher to cover taxes first. To net one hundred and twenty thousand after a fifteen to twenty percent effective tax rate, they'd actually need to withdraw closer to one hundred and forty one thousand, one hundred and fifty thousand annually from their portfolio. Now, if we apply the generic four percent withdrawal rule to that gross amount needed, using that one hundred and forty one thousand annually, they would need a staggering three point five million in retirement savings. That's just to support the income their portfolio needs to generate before considering other income sources. And here's a critical point most people overlook. This three point five million plus assumption, it typically assumes you already have additional stable income sources, such as Social Security, ABM pension, covering a portion of your living expenses. Without those additional income streams, the amount you need from your portfolio alone would skyrocket, often requiring far more than three point five million dollars to safely sustain ten thousand dollars in monthly spend without depleting a nest egg prematurely. Most people drastically underestimate the true savings required for these kind of high spending retirement lifestyles, especially once taxes are factored in. This is where understanding your portfolio income needs becomes absolutely essential. It's not just about a raw savings number, but what that number needs to produce for your specific net lifestyle needs after taxes. This fundamental misunderstanding leads to retirement plans that sadly are mathematically destined to fail within the first few years. If you need help understanding your portfolio income needs number, click on the link in the description below and fill out the questionnaire. Now, understanding the initial savings requirements is shocking, but the income source trap creates even more dangerous assumptions. How do inadequate income sources make ten thousand dollars in monthly spending financially impossible for many? The reality is most retirees today don't have generous defined benefit pensions. They rely primarily on Social Security, supplemented by the withdrawal on their personal retirement savings. So let's return to John and Sarah Johnson. They plan to claim Social Security early at age sixty two. For a healthy couple claiming early, their combined Social Security income might be for example around three thousand five hundred dollars per month or approximately forty two thousand dollars annually. Remember the Johnson's believe they need one hundred and twenty thousand dollars gross annually. If forty two thousand dollars is covered by Social Security that leaves a massive seventy eight thousand dollars that must come directly from their tax deferred savings just to meet their gross spending target. And as we just learned, to net ten thousand dollars a month, they may need to withdraw closer to one hundred and forty one thousand dollars If so, then one hundred and forty one thousand dollars gross minus forty two thousand dollars from Social Security still leaves ninety nine thousand dollars that needs to be pulled from their savings each year. The Johnsons currently have one point eight million dollars saved. If they need to pull out ninety nine thousand dollars annually, that's almost a five point five percent withdrawal rate. Now while five point five percent is better than ten percent, it's still significantly higher than the widely accepted four percent rule, safe withdrawal rate, especially if they are relying solely on this for all income beyond Social Security. We frequently see individuals with five hundred dollars to one million dollars attempting to maintain a ten thousand dollars monthly spending goal, creating an even more mathematical certainty of failure due to extremely high withdrawal rates. Why does this income source gap destroy retirement security for high spenders? Because insufficient income sources force them into dangerously high withdrawal rates. Again, if you only have say one point eight million saved and need to pull out ninety nine thousand annually, that's nearly a five point five percent withdrawal rate. These excessive withdrawal rates are unsustainable, and people end up burning through their hard earned savings at an alarming pace, desperately trying to maintain unsustainable spending levels, only to face dramatically reduced lifestyle later in their retirement years. This problem is compounded by what we call the retirement spending smile. This concept illustrates that spending is often highest in retirement. As people travel and pursue new hobbies, it then tends to dip in the middle years as pace of life slows, but often rises again significantly in later retirement primarily due to escalating health care costs. If you're pulling a high unsustainable percentage from your portfolio in the early SMILE years, you're depleting your funds precisely when you might need them most for longevity and for unforeseen health expenses down the road. Income source problems are severe, but the health care cost explosion makes ten thousand dollars a month spending even more unrealistic. How do health care costs destroy the sustainability of ten thousand dollars monthly retirement spending plan? Health care is undoubtedly one of the largest and most unpredictable costs for many retirees and is consistently underestimated and planted. You need to think far beyond just basic Medicare premiums. You'll need to factor in additional insurance like Medigap or Medicare Advantage plans, prescription drug coverage, and a significant reserve for unexpected medical needs deductibles, co pays. For a couple like John and Sarah, even with Medicare, these costs can easily consume one thousand dollars to two thousand dollars monthly out of pocket expenses. For more complex health situations or if you retire before Medicare eligibility, those figures can easily climb to three thousand dollars or more monthly. Why do health care costs increase, make ten thousand dollars a month spending plans unsustainable over the long term? Because medical inflation typically exceeds general inflation, meaning your health care expenses will likely grow faster than other costs, putting increasing pressure on your budget. A healthy sixty five year old couple could see health care costs rise by nearly six percent annually. That means what costs ten thousand dollars today could cost eighteen thousand to twenty thousand dollars just a decade later. Furthermore, the specter of long term care needs is a major concern. Assisted living facilities or in home care can cost anywhere from five thousand to ten thousand dollars or even more monthly. Numbers that can completely decimate even well funded spending plans if not proactively addressed. Medicare, as many discover, doesn't cover all these costs, leaving significant out of pocket expenses. Ultimately, health care emergencies can force retirees into agonizing choices between critical medical care and maintaining any semblance of their desired spender. Now that you understand these spending trap dangers, fill out the questionnaire in the description, and we'll send you a video analyzing your specific situation and show you how to optimize your retirement plan as a whole. How does lifestyle inflation lock retirees into unsustainable ten thousand monthly spending patterns? People often assume they can maintain their pre retirement lifestyle without truly considering the significant reduction in income and the change in financial dynamics that retirement brings. For a couple like John and Sarah, who are accustomed to high end dining, frequent travel, and perhaps a new car every few years from their working years, income of, say, two hundred thousand annually, their housing, travel, and entertainment expenses don't automatically adjust for retirement reality. In fact, for many, the initial period of retirement sees a spike in spend as they fulfill long held dreams those first big trips they promised themselves. Social pressure, keeping up with the peers, and sheer habit make it incredibly difficult to reduce spending once retirement begins. This creates a psychological trap where people continue spending beyond their means, often dipping into their principal far too early. Why does the lifestyle inflation trap prevent people from making necessary spending adjustments? Often it's because people view spending reduction as a sign of failure rather than smart adaptive financial management. They assume they deserve high spending after decades of work and saving, making it emotionally challenging to pull back. They fail to understand that retirement isn't just about accumulating a number. It requires fundamentally different spending strategies than your working years. This fixed mindset prevents the flexibility needed to make retirement savings last through unpredictable markets and rising costs. For the Johnsons, realizing their current lifestyle will likely require more than ten thousand dollars a month could be a significant hurdle. Okay, now that you understand all these spending traps, let's make sure you can create a realistic retirement spending strategy. How do you create sustainable retirement spending strategies that avoid the ten thousand monthly trap? It starts by diligently calculating your actual guaranteed income sources, like Social Security, pensions, and then determining realistic, sustainable withdrawal rates from your personal savings. This involves understanding your portfolio income needs, how much your investments must generate to cover your specific net lifestyle needs after taxes. For John and Sarah, this means moving from a vague ten thousand gross target to a precise understanding of their post tax realistic monthly budget. Next, you must match your spending expectations to your actual financial resources. Rather than stubbornly clinging to a desired lifestyle that your portfolio can't support. This means taking a hard look at your budget. Explore lifestyle adjustments that allow your savings to last longer without feeling deprived. Finally, work with professionals who can stress test your spending plan. This includes running scenarios against rising health care costs, persistent inflation, and your own longevity, ensuring your plan holds up over twenty, thirty, even forty years, depending on the age you wish to retire. This comprehensive analysis ensures your plan is built for your specific situation. What ensures your retirement spending strategy provides long term security rather than short term comfort? Build flexibility into your spending that allows for reductions during market downturns or unexpected expenses without panicking or jeopardizing your core needs. Focus on essential versus discretionary spending to identify clear areas for potential cost savings and adaptable budgeting, allowing you to strategically cut perhaps five thousand to ten thousand dollars annually from flexible categories if needed. Proactively plan for health care cost increases and potential long term care needs. Understanding their significant impact on future budgets, which easily could be two thousand to three thousand dollars monthly. And regularly review and adjust your spend based on portfolio performance, inflation, changing personal circumstances, and keeping your portfolio income needs aligned with reality. This includes continuous tax optimization of your withdrawals. Now that you understand the ten thousand dollars monthly retirement spending trap and the massive financial requirements behind this lifestyle, you can create realistic spending strategies that provide long term security rather than a short term comfort followed by financial disaster. If you want help developing a sustainable retirement spending strategy that matches your actual financial resources and goals, fill out the questionnaire in the description and we'll send you a video analyzing your specific situation to show you the optimal way to plan your dream retirement. We'll see you in the next video.
- [This Simple 401(k) Move Could Make Your Money Last 10 Years Longer](https://rlwealthpartners.com/this-simple-401k-move-could-make-your-money-last-10-years-longer/): In this video we're gonna show you the simple four zero one k withdrawal timing strategy that can extend your portfolios longevity by a decade, and how starting small systemic withdrawals during low income years helps you avoid the high bracket withdrawals that force many retirees to draw their savings faster than they expected. You see most people assume their biggest retirement risk comes from the stock market, inflation or choosing the wrong investments, but in reality the risk that affects more retirees than any of those factors is withdrawal timing. This isn't about loopholes or complicated maneuvers, it's about understanding how taxes, required minimum distributions, and the market risk interact with each other once you stop working and how one misunderstood timing decision can quietly shorten a retirement by years. And that's exactly why we're making this video today, to show you the withdrawal timing mistake that silently shortens retirement, the early withdrawal strategy that extends longevity, why early withdrawals can actually improve long term growth, and the comprehensive framework that ties it all together. Let's get right into it. Before we talk about what to do, you need to understand the invisible mistake that quietly shortens more retirements than market volatility, inflation or bad investment choices. For decades, the standard advice has been delay taking money from your tax deferred accounts for as long as possible. Let the balance grow, avoid paying taxes now and wait until the IRS forces your hand. It sounds logical and it sounds responsible but for many retirees, this approach leads to an outcome that they never intended and often don't realize until it's too late. You see when you delay tax deferred withdrawals until age seventy three, those accounts often reach their largest balances at the exact moment the IRS begins requiring you to take those distributions and because those required distributions are calculated as a percentage of your tax deferred balance, the result is forced withdrawals that are far larger than most retirees anticipate. For households with one to two million or more in tax deferred savings, initial RMDs commonly fall between fifty to a hundred thousand dollars per year depending on balance size and market performance. But these withdrawals are not optional, they don't adjust because the market's down, they don't adjust because you're trying to manage your tax brackets and they don't adjust because you have other sources of income. They are required and they have to be taken. The Financial Planning Association highlights the volatility of RMD driven withdrawals because RMDs fluctuate year to year based on market performance, retirees may be forced to withdraw more during periods of poor returns, a pattern that sharply increases their risk of early portfolio depletion. Delaying tax deferred withdrawals until age seventy three or your RMD age doesn't just postpone taxes, it concentrates them. It creates income spikes, it pushes retirees into higher marginal tax brackets and it forces large withdrawals during market downturns when selling can be most harmful. This is why retirees who follow the wait as long as possible approach might see their portfolios run out eight to twelve years earlier than they would if they had a proactive early withdrawal strategy. So if deferring tax deferred withdrawals until seventy three creates the problem, the next question is obvious right? What should you do instead? And this is where most people are shocked by the answer. One of the most effective ways to extend the life of a retirement portfolio is simply to just start withdrawing from your tax deferred accounts earlier, typically sometime between the ages of sixty and seventy two, even if you don't need that income yet, and we'll get into need in a moment here. Again not large withdrawals, not irregular withdrawals, just small steady systematic withdrawals in the range that could typically fall between twenty to forty thousand dollars a year depending on your income and tax situation, right. Why does this work? These early withdrawals begin to reshape your tax deferred balance before you get to that required minimum distribution age. Again, you know not to reduce your savings but to reduce the amount of required distributions that the IRS is going to impose later, and research from Schwab highlights this approach as an effective way to reduce future RMD pressure and lower lifetime taxes, particularly during these low income retirement years. For many retirees that early to mid sixties represent a tax of valley years, It's a period where employment income has stopped, Social Security income may not have started, pension income can be deferred and your RMDs have not begun. These low taxable income years are a strategic window that often goes unused and to be clear starting early withdrawals doesn't mean that you're increasing your spending, in many cases retirees simply reposition these dollars, building cash reserves, reinvesting in taxable accounts or using that window for potential Roth conversions. The purpose here isn't to spend more money than you need but to recognize income in a more controlled tax efficient way over the length of your retirement. By drawing modest intentional amounts from tax deferred accounts during this time you keep yourself in lower tax brackets, reduce the size of future RMDs, smooth or flatten your lifetime tax rate, and avoid a massive income spike at age seventy three. But the tax impact is what amplifies the benefit and that tax advantage is what most retirees never hear about, it's the part of the strategy that makes the biggest long term difference here. When most people think about retirement income, they focus on where the money comes from. Just as important and sometimes more important is when that income appears on your tax return. Starting withdrawals before your RMD age allows you to intentionally fill lower tax brackets now so you don't get pushed into higher ones later. So if you wait until age seventy three or your RMD age, Social Security benefits are already turned on, other income sources may be active and the IRS is adding a large RMD on top of that. This combination doesn't just push retirees into higher tax brackets, it frequently triggers two additional problems. Number one, more of your social security becomes taxable. Large RMDs increase combined income often causing retirees to have up to eighty five percent of their social security benefits taxed, even though nothing about their actual lifestyle spending has changed. And two, it could trigger higher Medicare IRMA surcharges, Crossing IRMAA thresholds due to large RMD driven income spikes increases your premiums for Medicare's Part B and D. These surcharges reduce your net income and create expenses that many retirees never actually planned for. Both of these tax consequences reduce your net retirement income while still accelerating depletion of your tax deferred accounts. This is why early withdrawal bracket management is so powerful because it flattens your lifetime tax curve, prevents bracket creep, and it reduces the compounding impact of Social Security taxation and IRMA penalties. Morningstar, Schwab, and the Financial Planning Association all highlight that same principle. Retirees who recognize income intentionally during these low income years often see a dramatic improvement in long term withdrawal sustainability. So if you're hearing this and you're wondering the best way to structure your withdrawal strategy, click the link below and request a personalized retirement video created specifically for your situation. Going back to bracket management, that's only half of the benefit here right, the other half affects the one thing that retirees fear most, being forced to withdraw more than they need. The IRS doesn't care about your market conditions, tax planning goals or how much income you actually wanna take, they calculate your RMDs based on a formula, a percentage of your tax deferred balance, and those RMDs need to be taken every single year once you hit your retirement age. This creates a problem that retirees often underestimate. RMDs can force you to withdraw more than your portfolio can safely support. When RMDs are large, retirees are required to sell investments even when the markets are down. That forced selling accelerates depletion, locks in losses and shrinks the base that future growth depends on. This is the heart of sequence of returns risk, it's not volatility itself that causes the permanent damage, it's withdrawing too much during periods of poor performance. Here's the advantage of reducing your RMDs early, when you take small controlled withdrawals between those ages of sixty and seventy two, you are gradually reducing the size of your future distributions. A smaller balance at age seventy three means a smaller dollar amount of RMDs for every year that follows and the benefits compound, that's less forced selling, lower income spikes, reduced tax exposure, less risk of triggering higher social security taxation, better protection during down markets and a more stable long term withdrawal path. By proactively drawing down tax deferred balances before age seventy three, it can materially reduce the size of future RMDs, which again gives you more control over those taxes and market exposure. And here's where almost every retiree gets blindsided. That surprising part, withdrawing earlier can actually lead to more long term growth. Let me explain why. Most people assume that taking money out earlier automatically reduces growth potential and that's a reasonable assumption but it doesn't account for how retirement distributions truly affect long term performance. Growth in retirement isn't determined only by how much you keep invested, it's determined by whether you're able to keep your investments working through recovery years, when compounding historically has some of the largest impact. Large forced RMDs disrupt this. If you have to withdraw a fixed percentage of your balance each year, you might be forced to sell investments at precisely the wrong time. During downturns locking in losses and reducing the number of shares that participate in the recovery but early withdrawals help prevent this by reducing future RMD spikes allowing more of your portfolio to remain invested when markets rebound. This isn't just theoretical, Morningstar, Vanguard and the Financial Planning Association all highlight versions of the same principle. Retirees who avoid large force withdrawals during down markets tend to maintain higher equity exposure through the recovery periods, which is one of the primary drivers of long term retirement success. Schwab's data aligns with this as well, showing that smoothing out future withdrawals allows greater participation in market recoveries and reduces sequence of returns risk. Across many planning scenarios, avoiding forced withdrawals during down years results in a twenty to thirty percent more total lifetime wealth, largely because more of the portfolio remains invested through the most productive compounding periods. Once the timing advantages are clear, the next step is applying them through a structured repeatable withdrawal framework. This is where people run into trouble, not because the concepts itself is complicated individually but because you have to work together with everything in the right sequence. The framework starts with understanding your portfolio income needs or your PIN as we like to say and that's the amount of income required each year to support the lifestyle you need minus any guaranteed expenses, so this is what you have to pull out of your portfolio. And every withdrawal decision needs to be coordinated around this number. From there the strategy is evaluated each year to find out where you should be taking that income from, again tax ABOA accounts, tax free accounts, or tax deferred accounts. Once the annual positioning is identified three ongoing disciplines guide implementation. Number one, annual tax modeling, this includes evaluating bracket space, IRMA thresholds, Social Security timing and whether partial Roth conversions fit this year's income profile. The goal is to avoid unintended tax bracket jumps that quietly increase your lifetime taxes. Number two, RMD projection tracking, again this involves forecasting required distributions from now through age ninety to ninety five to confirm whether your early withdrawals are meaningfully reducing your future RMD pressure, or if other adjustments are needed. And three, market based adjustments, in strong market years that framework may call for slightly larger withdrawals to lock in some gains. In weak years it might call for reducing or pausing some discretionary withdrawals to avoid selling during downturns. This is also the point where decisions are made about where early withdrawal dollars should go. Some retirees use this income to build cash reserves for future stability, others reinvest it through taxable accounts so that the dollars remain invested and for others the early retirement window becomes the most effective time for partial Roth conversions because income is lower and tax bracket space is available. Again the goal isn't to increase spending, it's to structure income recognition, tax efficiency and RMD reduction in a way that increases flexibility, protects compounding and helps retirement savings last longer overall. And when these elements work together, again your pin calculation, your framework, tax modeling and your RMD projections, the result is a withdrawal strategy that consistently supports an extra ten to fifteen years of additional portfolio sustainability in real world scenarios. Remember retirement success isn't just about investments, it's about coordinating income timing, tax efficiency, RMD control, and your ability to stay invested through the most productive years of market growth. If you want clarity on how these strategies apply to your retirement situation, you can request a personalized retirement video created specifically for your situation. Simply click on the link below and request your video. Till next time, take care.
- [What 1,000 Retirees Regret About Waiting For $1 Million](https://rlwealthpartners.com/what-1000-retirees-regret-about-waiting-for-1-million/): What one thousand retirees regret about waiting for one million dollars In today's video, we're going to reveal the biggest regret shared by over one thousand retirees, and how it all comes down to one simple truth: They never stopped to run the numbers. Many retirees delay their freedom by chasing a one million dollars retirement goal, a number that felt safe, but turned out to be arbitrary. When we sat down with them, did the math, and looked at their real situation, one thing became clear. They could have retired earlier. They didn't need more money. They simply needed a plan. Over the years, we've helped people break free from the one million dollars myth by walking through their numbers line by line. And what we found shocked even us. People were sacrificing years of good health, time with their families, and meaningful life experiences, all because they were chasing a number that wasn't even necessary. So today, we're going to walk you through what we've learned from those conversations and show you how to determine whether you already have enough to retire confidently without waiting another year. So let's get into it. Let's start with the myth itself. Somewhere along the line, one million became the magic number, the golden ticket to retirement security. But is it really? According to Fidelity, only about twelve percent of Americans actually retire with one million dollars saved. And yet, thousands retire each year with far less. And they're doing just fine. In twenty twenty three, Vanguard reported the median four zero one ks balance for those over sixty five was just two hundred and thirty two thousand. That's not even a quarter of a million dollars. Yet, these retirees made it work. We started running the numbers with real people, and here's what we found out. Let's say you need four thousand a month in retirement, forty eight thousand a year. If Social Security covers twenty five hundred a month or thirty thousand a year, you only need to pull roughly eighteen thousand dollars annually from your savings. Over twenty five years, that's four hundred and fifty thousand, not a million. The media doesn't tell you this. Financial rules of thumb don't consider where you live, what you spend, or whether you have other income. Retirement is not one size fits all, and when we've helped people realize that, they often found out they could have retired years earlier. After running the numbers, most people said the same thing. I wish I'd done this sooner. Because while they waited to accumulate one million dollars their health was quietly slipping away. Healthline and CDC data report that the average American develops their first chronic condition around age sixty seven. By the time many retirees hit their target, their bodies weren't up for the adventures that they had planned for. In fact, studies from Health Affairs and Harvard show people who retire at sixty two get an average of seven more healthy years than those who wait until age sixty eight. That's two thousand five hundred and fifty five days of better energy, more freedom, and stronger relationships. We ran the numbers with Dave, who delayed his retirement until age sixty eight. He earned an extra two hundred and forty thousand dollars but lost years in his prime. His wife, Sally, developed Parkinson's, and the trip to Italy they saved for? Gone. When we looked at his health timeline against his finances, he realized too late that his wealth came at the cost of wellness. What if he retired at sixty two with less money but more life ahead of him? Run of the numbers didn't just reveal financial clarity, it brought emotional clarity. A twenty twenty two Transamerica Center for Retirement Study survey found fifty eight percent of retirees regret not spending more time with their family during their health issues. And that regret doesn't go away, it deepens. We sat down with a client who delayed retirement for five years, hoping to earn an extra two hundred thousand dollars towards their retirement. But in that time, his granddaughter went from a toddler to a preteen in the window to bond with her closed. He told us, I never ran the numbers. I just assumed I needed more. Before he met with us, another client told us he had been planning a fishing trip with his father for years, but he wanted to postpone retirement for one more bonus cycle so he could reach a specific number in his retirement portfolio. Sadly, his dad ended up passing away just before they could go on that trip. And when we looked at his finances, he broke down. He could have actually retired two years earlier. He just didn't know. These are the regrets that never show up in a spreadsheet. But when we run the numbers and look at what's really at stake, they hit the hardest. And that's the kind of the twist the people who reach a million dollars often still don't feel secure. Take Mike. He retired with one point one million dollars He thought he was golden. But when we sat down and ran the numbers, we uncovered a problem. Mike lives in California. His monthly expenses were about seven thousand dollars per month. He had two thousand two hundred dollars a month from Social Security, meaning he was drawing four thousand eight hundred dollars a month from his savings around fifty seven thousand dollars a year. Do the math one point one million dollars divided by fifty seven thousand dollars equals about nineteen years. But that's before inflation, market drops, or unexpected expenses. At that pace, and the way his assets were allocated, his money would have been gone by the age of seventy eight. We helped Mike restructure his plan through our three sixty five Retirement Planning Framework, resulting in more guaranteed income, lower early withdrawals, and a flexible spending strategy. He told us, I realize now I didn't need more money. I just needed a plan. That's the lesson we've seen over and over again. One of the biggest surprises from running the numbers, how often people give up chasing just a bit more money. Let's say you work three extra years to earn an additional hundred and fifty thousand. On paper, that sounds like a win. But when we map that against lost experiences, missed time, lost vitality, stalled passions, it often wasn't worth it. In fact, one client told us, I worked those three years to feel safer, but those were the exact years I wanted to write my book and travel with my partner. Now I'm too tired to even start. Think about it. Working three years nets you an extra one hundred and fifty thousand dollars But what if that delay caused you to miss thirty six months of your best and healthiest years? All those mornings of sleeping in, taking hikes, visiting grandkids gone. When people see the trade off in time versus money, the regret hits hard. They realize that what they will lose is freedom, fulfillment, purpose that isn't something they can buy back later. Running the numbers also opened retirees' eyes to something else, how their choices affected their families. We met people who worked into their 70s thinking they were doing it for the family. One client broke down, and when we showed him how he could have afforded to retire three years earlier. He missed his grandson's early childhood. Memories and experiences he can't get back. We also ran the numbers with couples who didn't realize the stress of work and long hours was damaging their marriage. Time together was constantly postponed. When they saw that retirement had been an option all along, it changed everything. Not just for them, but for their entire family dynamic. So how do you know if you're really ready? You need to run the numbers. That's what we did with Mark and Linder. They had six hundred and eighty thousand dollars saved, a modest pension, Social Security of three thousand two hundred dollars per month, Their lifestyle costs five thousand dollars per month. We plugged everything in their expenses, the guaranteed income, inflation adjustments, market scenarios. What we found? They didn't need a million dollars. They had enough. We showed them how to safely withdraw what they needed and still preserve their long term security. They retired at sixty three, and they haven't looked back. Here's how you can do the same. List your monthly retirement expenses. Add up all your guaranteed income, Social Security, pension, any annuities. Subtract the expenses from income to find your shortfall. Multiply the annual shortfall by the years you'll need to fund, and then factor in growth. And then adjust based on location, health, and lifestyle goals. You might already be closer than you think. Don't wait for an arbitrary milestone. Do the math, run your numbers, and if you need help, fill out the questionnaire in the description. We'll send you a personalized video walking through your retirement plan. We'll see you in the next video.
- [The “Wake Up Call” Reshaping Retirement Thinking](https://rlwealthpartners.com/still-working-past-59-heres-my-brutally-honest-advice/): Nearly half of retirees stop working earlier than they planned, not because they're financially ready but because life forces that decision. Could be healthcare changes, family responsibilities or company downsides. So if you're still working at age fifty nine or sixty understanding whether you need to stay in the workforce has never been more important because the real risk isn't retiring too early, it's being pushed into retirement before you've had the chance to build the plan that supports the lifestyle that you want and the surprising part is this, most people working past age fifty nine aren't doing it because they lack savings, they're doing it because they're missing clarity. After helping hundreds of families in this stage of life, we here at Rubino and Liang Wealth Partners can tell you that many people who think that they're not ready to retire actually have far more options than they realize. The problem usually isn't a lack of savings, it's a lack of structure. So in this video I want to share some brutally honest advice about what it means to keep working past age fifty nine and how to figure out whether you're doing it by choice or by fear. Let's get right into it. If you're somewhere around age fifty nine maybe age sixty, you're in a strange spot, you're not quite ready to retire but you've been saving and working toward it for decades and you've probably caught yourself wondering, shouldn't I feel more confident about this by now? Most people at this stage, again they don't lack savings, they lack clarity because thirty to forty plus years, everything's been about accumulating, right? Putting money into accounts but around this age, the question starts to change, you stop asking how much do I need or how much do I have and you start asking well how do I start actually using this without running out of it? And that's the moment when most people realize there's no clear playbook for this next phase of life. According to Fidelity's twenty twenty four retirement mindset study almost two thirds of workers between age fifty nine and sixty four say that they don't know when they can afford to retire even though most have been saving for decades. And that's not a money problem, that's a planning problem because what worked in your forties and your fifties saving, deferring, accumulating, it isn't the same approach that gets you through retirement. At age fifty nine you're standing at a hand off point where the goal shifts from building wealth to building income. You go from how much do I have or how much do I need to how long will it last and how do I use it wisely. And this is the part that no one really teaches you in your working years and once you understand that shift you can start turning that confusion into confidence. But even when people begin to understand the shift, many pull back on that one familiar idea to feel safe. Right? I'll just work a few more years and sounds reasonable but for a lot of people in the early sixties that assumption is exactly where things start to go sideways. Most people in their late fifties or early sixties tell themselves that same thing, I'll just work a few more years, build up my savings, play it safe And on paper that sounds reasonable, you stay employed, you keep benefits, you delay withdrawals, what could go wrong right? But work doesn't always cooperate with the timeline that we imagine. Again, health changes, employers restructure and sometimes we just get tired. According to a twenty twenty four report from the Employee Benefit Research Institute, nearly half of retirees said that they left work earlier than planned and the top three reasons weren't financial. They were health, caregiving responsibilities and company downsizing. And that's a wake up call because even though working longer feels like a financial decision, it's oftentimes not your decision to make and that's where the emotional side of planning starts to show up. People just assume that retiring early is risky but in many cases the bigger risk is not being prepared if work stops earlier than you expected it to. And this is why we always tell our clients retirement planning isn't about quitting work, it's about having the option to stop on your terms. You see when you reach a point where work becomes optional you regain control over your time, stress and choice even if you choose to keep working. So this stage of life isn't just about saving a few more dollars, it's about shifting your plan from earning security to owning it. Now once people begin to feel that sense of ownership, the next challenge isn't investments or taxes, it's understanding what life actually costs and this is the part that catches more fifty nine year olds off guard than anything else. If you ask most people how much they need to retire, they'll throw out a round number, one million maybe two but the real question isn't how much you've saved, it's how much life actually costs. That's where most retirement plans start to fall apart. Not because of bad markets but because people never stop to measure what their lifestyle really requires. If you're in your late fifties or early sixties, you've likely built habits that feel normal. Right? Certain travel, helping kids, home maintenance, eating out, gifts, small comforts, all these things that make up the rhythm of your life but when the paycheck stops those habits still cost money and according to the Employee Benefit Research Institute's twenty twenty four spending patterns study, the average retirees household expenses only drops by about fifteen percent in the first ten years of retirement which is far less than most people expect and that's a wake up moment because if you're playing around the idea that spending will automatically go down, you could underestimate your real income needs by thousands of dollars each year. This is where the concept of Portfolio Income Needs or PIN becomes essential. Instead of chasing a big round number focus on what your portfolio needs to produce to cover your lifestyle. Your portfolio income needs or your PIN is the amount of income that your investments need to generate after social security, after pensions and after any other fixed income sources are considered. It's not an overly complicated formula, it's simply your annual lifestyle costs right separated into essential expenses and discretionary expenses minus your guaranteed income which leaves you with the income net again so after taxes that your portfolio must produce that year. That one number forms the basis for almost every retirement decision. Most people have never calculated it but once they do they finally see whether they're working because they want to or because they're afraid of a number that they've never actually calculated. Knowing your PIN also reveals whether your current savings already can support your lifestyle or whether some adjustments are needed. And once you understand what your lifestyle really costs, another question naturally comes in. How do you turn your savings into income that you can count on even when the market doesn't cooperate? And that's the part that most people never get taught but it's what makes retirement feel stable. Once you understand what your life costs, the next question becomes where will that money reliably come from each month? And for decades, your paycheck handled that automatically, right? Now that your portfolio has to take over that role, that's a big psychological shift. Most people worry about what the market will do next but the real question isn't what the market does, it's which parts of your plan depend on it. Here's how to think about that. Every retirement income plan can be divided into three layers what we like to call the Income Planning Pyramid. At the base are your essentials, the non negotiables like housing, groceries, healthcare, insurance. Those should be funded by income sources that are as steady as possible whether that's social security, pensions, annuities or other predictable distributions. That middle layer is your lifestyle, like the things that make retirement worth living. Flexible parts of your budget like travel, dining out, hobbies, helping the kids or grandkids. These layers can come from things like investment withdrawals, dividends or part time income. Sources that can fluctuate a little but are manageable. Manageable. In the top layer is legacy or long term goals, right future gifts, charitable giving or maybe inheritances. Money earmarked to this can stay invested for growth since they're meant for later. So when your income plan is structured this way you can live your life without constantly checking the market. Your essentials are secure, your lifestyle has flexibility and your future still has room to grow. If you want to get a feel for where you stand try this simple exercise tonight. Take out a notepad and make two columns. On the left is your list of monthly needs. On the right is your wants. Then right next to each need which source of income would cover that. If there's a gap where a need has no reliable income source yet, that's where your planning should focus. The goal isn't to predict every market swing in retirement, it's to make sure that your paycheck or however you define it keeps showing up even when the markets don't cooperate. Now once you understand how your income is structured, there's a factor that most people overlook and it has nothing to do with the market, it's taxes and they can shrink a retirement plan faster than volatility ever will. People assume that the big threat to retirement is market volatility but taxes have a much bigger impact especially once you start taking withdrawals because in retirement taxes don't disappear they just change shape. Most people think their taxes will go down when they stop working but for many retirees that doesn't happen. When income shifts from paychecks to withdrawals, every dollar from a traditional IRA, four zero one ks or pension is still fully taxable as ordinary income. Add social security and investment income on top of that and it's easy to push yourself into a higher tax bracket without even realizing that. And according to JP Morgan's guide to retirement, more than seven in ten retirees pay more in taxes in their first five years of retirement than they did in their final five years of working. That's mostly because of poor withdrawal coordination and that is why strategy matters. Think of your retirement assets as being held in three different tax buckets. There's tax deferred like your traditional IRAs, 401Ks, 403Bs, this is money that you'll pay taxes on when you withdraw from them. There's tax free which are like Roth IRAs or Roth 401Ks, that's money that's already been taxed so future withdrawals are tax free. And then there's taxable accounts which is a brokerage account or an after tax account like a savings account. These investments generate capital gains or dividends each year. Most people focus on how much they withdraw but where you withdraw from and in what order often makes a bigger difference. If your withdrawals aren't coordinated across tax brackets and tax buckets you could lose thousands sometimes tens of thousands over the course of your retirement. The Fidelity twenty twenty four Retirement Income Study found that retirees who review their tax plan each year pay ten to fifteen percent less in lifetime taxes simply because they can control when and where they take that income. It's not about avoiding taxes, it's about avoiding surprises. If coordinating your tax buckets or mapping out your tax brackets feels complicated, you're not alone here. You can use the link below and walk through it with our team to make sure that your process feels a little bit more manageable And once you understand how income and taxes interact, the next challenge is something that no one can really escape, and that's time. And this is where even strong retirement plans can start to drift unless you update them. Your financial life isn't a finish line, it's a system that needs feedback. The biggest misconception about retirement planning is that it's one and done. Retirement isn't a five year plan, it's a twenty five to thirty year journey and your needs will change throughout that time. Your spending will shift, your health might change, your tax situation evolves, your goals may adjust, even a solid retirement plan can drift off track if it isn't revisited regularly. Durability in retirement isn't about having the perfect plan on day one, it's about adjusting your plan so that it stays relevant and supportive as your life unfolds. Every few years or any time life changes, ask yourself, how is my income plan performing against what I actually need? Instead of tracking market performance, track income performance whether or not your portfolio is still producing what your life requires. If your plan is falling short that's not necessarily failure it's just a signal. Maybe you need to strengthen your income sources, adjust your withdrawals or realign investments towards stability. If your plan is strong that's confirmation, keep reinforcing what's working. If your plan is already ahead, you might look for ways to sharpen it by reducing taxes, improving efficiency or building a more flexibility for the future. This kind of diagnostic approach turns longevity risk into a manageable process. You're no longer guessing whether you'll have enough, you're measuring progress against what matters most, your lifestyle. Now when your plan evolves with you, your confidence doesn't just depend on the market, it depends on your ability to adapt and durability is important but it only works if you turn it into a habit and that's where the final step comes in. Creating a rhythm that you can rely on each year. By now you've seen how all the pieces fit together. Knowing what life costs, creating reliable income, managing taxes efficiently and keeping the plan sustainable. This final step is about implementation, turning strategy into rhythm because a plan only works when it's lived. Start with an annual check-in. Once a year, down and ask, has anything changed in my spending or my lifestyle? Have my income sources shifted and am I still on track to meet my income needs? These are simple questions but they keep you engaged with your plan instead of just guessing about it. Then revisit your income testing, recalculate your PIN and see how your income sources align with your current tax brackets and goals. If your income plan shows strain, again tight margins or rising withdrawals, that's your cue to address any underlying needs. If it is steady, just reinforce what's working. This diagnostic rhythm is what keeps your retirement adaptive for years to come. Again you're not trying to predict the future but your retirement plan shouldn't be like an Atlas, want to think of it more like a GPS guide. Always looking for potential traffic or roadblocks and calculating the best route forward and you don't have to do this alone. Working with professionals who understand the full retirement transition not just accumulation, they can give you clarity that generic calculators cannot. A good financial advisor can help you coordinate income, taxes, healthcare and investments into one clear system that supports your life. Retirement confidence doesn't come from having all the answers, it comes from having a process that helps you find them again and again. If you're fifty nine or older and you're wondering whether you're still working out of choice or out of habit, this is the perfect time to get clarity. If you want help running those numbers or understanding your options, click the link below where you can schedule time to talk with our team. We'll go through your situation together and guide you through the process to see the bigger picture clearly. Until next time, take care.
- [Fidelity Just Exposed The Hidden Flaw In Most Retirement Plans](https://rlwealthpartners.com/fidelity-just-exposed-the-hidden-flaw-in-most-retirement-plans/): Fidelity recently published a retirement healthcare estimate that shocked a lot of people, but the real problem isn't the number, it's what that number accidentally exposed. Because if your retirement plan assumes healthcare costs behave predictably, there's a good chance your plan is quietly broken even if everything looks fine on paper. That's why in today's video, I wanna show you the hidden flaw this reveals and why it's causing even well prepared retirees to struggle. Let's get right into it. Most people who hear that fidelity number don't panic, they nod because they've planned, they've saved, they've worked with an advisor and their projections already show that they should be fine but this is where the unease starts because even retirees with solid plans often feel like something still doesn't quite add up. Not because the math is wrong but because retirement doesn't behave the way that the math assumes that it will. Healthcare is the clearest example of that disconnect. People get anxious because it's unpredictable and when a retirement plan is built on predictability even one variable that refuses to behave can quietly undermine everything else. That is why Fidelity's estimate matters, not as a headline but as a warning sign of a deeper planning flaw. When Fidelity released its estimate that a couple retiring today may need roughly a hundred and seventy, a hundred and seventy two thousand dollars to cover healthcare expenses in retirement, it grabbed attention for a reason, it's a big number and it sounds alarming. Fidelity did a great job carefully researching this topic and the information is directionally useful and the real problem is how most people interpret Because when retirees hear that number, they tend to think in totals. How much do I need to save? Will my portfolio cover that? What gets missed here though is how that number is built. Fidelity's estimate is based on averages, it assumes relatively smooth increases in healthcare costs over time. It spreads expenses across decades of retirement and it presents them as a predictable planning input you can use and that's where the disconnect begins. Real retirement healthcare costs don't arrive smoothly, they come in waves, they vary dramatically from one household to the next and they change based on health events, policy shifts, longevity and timing, not neat annual planning assumptions. So while the total number gets headlines, the variability inside that number is what actually causes anxiety. A retirement plan built on an average healthcare estimate might look perfectly fine on paper but it's still fragile in practice because it isn't designed to handle when and how those costs show up. That's why Fidelity's estimate isn't just a cost warning, it's a signal. It reveals a deeper flaw in how many retirement plans are built. Treating healthcare like a predictable line item instead of a dynamic variable that needs flexibility around it. And once you see that, it becomes clear why healthcare so often becomes that pressure point that exposes the limits of static retirement planning. The hidden flaw Fidelity's estimate exposes isn't about care specifically, but it's about how most retirement plans are built, right? Traditional plans are static by design, they rely on fixed assumptions, average returns, steady inflation, predictable spending, and clean annual adjustments that behave the same way year after year after year. Again, that structure works reasonably well when life is stable and income is consistent, but retirement doesn't operate that way does it? In retirement, income sources shift, spending changes year to year, markets move in unpredictable sequences, healthcare costs arrive unevenly, and tax rules, premiums, and benefits evolve over time. Yet most plans treat all of this variability as if it can be smoothed out and averaged away. On paper that creates confidence but in real life that creates fragility because when a plan is built on predictability, it doesn't fail all at once, it starts to fail quietly. A retiree may feel fine during strong market years only to discover later that early withdrawals magnified losses that they didn't anticipate. Healthcare expenses may look manageable in the long term projection but a few high cost years in the wrong order can force withdrawals that can ripple through the rest of your plan. Taxes may appear reasonable on average until required withdrawals or premiums spike unexpectedly and it pushes income into a higher tax bracket at the worst possible time. Individually none of these events feel catastrophic, but combined and compounded they create stress, second guessing and uncertainty. This is why so many retirees with good plans will still feel uneasy once retirement begins, Not because the plan was careless but because it wasn't designed to adapt. Again, static plans assume stability. Retirement does not have that, it delivers variability and when those two collide, healthcare concerns often become that pressure point that exposes the the mismatch first. Not because it's the largest expense but because it's the least predictable. That is the real flaw that Fidelity's number reveals. Not the size of the estimate but the planning assumptions sitting underneath it. This is where retirement planning stops being theoretical and starts to feel personal. Because most retirees don't experience this flaw as a spreadsheet problem, they experience it as a feeling, a quiet uncertainty about whether their plan can really handle what lies ahead. Many retirees did everything that they were supposed to, right, they saved consistently, planned ahead, they made thoughtful decisions along the way. So when an ease shows up, it gets confusing. They're not reckless spenders, they're not ignoring reality but something still doesn't feel settled and that discomfort usually isn't about how much things cost, it's about not knowing when or how costs will show up and whether that plan can absorb them without forcing trade offs. Healthcare intensifies this feeling because it sits at that intersection of money, health and control. You can plan carefully for markets, you can adjust spending habits and you can manage taxes deliberately but healthcare doesn't always follow intention and when a plan treats it as predictable, retirees are left carrying that uncertainty emotionally. That's why anxiety often rises in retirement even when the numbers look okay. Not because retirees suddenly become irrational but because they sense that their plan isn't equipped to respond dynamically when life deviates from the model or the plan. And when a plan can't explain what happens next if a condition changes, confidence quickly erodes. This is the moment many retirees start second guessing decisions, delaying plans or becoming overly cautious. Not because they lack resources but because they lack clarity and clarity is exactly what static plans fail to provide. So what should retirees do instead? The goal in retirement isn't to predict every outcome, it's to be prepared for change. That means shifting away from plans that try to lock in certainty and toward strategies that can create flexibility. Retirees who navigate this well don't eliminate risk, they just design around it, they focus on building a plan that can respond when those variables change, instead of just assuming that those variables will behave. Practically, that starts with clarity. Understanding how much income your lifestyle actually requires, how discretionary your spending really is, and which expenses are non negotiable versus negotiable, creates a foundation for better decisions. From there the focus shifts to adaptability rather than relying on a single projection, a dynamic approach evaluates multiple paths showing how markets, healthcare costs, taxes and spending patterns interact over time. When conditions are favorable the plan takes advantage of that, when conditions tighten the plan adjusts early before these small pressures become major problems. This approach changes how retirees experience uncertainty, Instead of reacting emotionally when something unexpected happens, they know what levers exist and how adjustments affect the bigger picture. Health care costs don't just disappear but they stop feeling like a looming unknown. Market volatility doesn't go away but its impact is understood and managed. Taxes don't become simple, they just become coordinated with income decisions instead of just catching retirees off guard. What this ultimately provides isn't a perfect forecast but a direction, a sense that no matter how retirement unfolds, there's a clear process for deciding what to do next and that shift from prediction to preparation is what restores confidence when retirement stops behaving like the plan assumed that it would. And again this is where clarity starts to replace guesswork. For many retirees uncertainty persists because they don't have a clear reference point for what that retirement actually needs to support, and that's where portfolio income needs or PIN comes in. Portfolio income needs isn't just a calculation, it's a decision anchor, it represents the amount of reliable income required to support your lifestyle after accounting for essential expenses, discretionary spending, and the realities of how retirement actually unfolds. When retirees understand their pin, decisions stop feeling abstract. Instead of asking can I afford this, they ask how does this decision affect my income needs and my ability to sustain them? Healthcare variability fits directly into this framework, rather than guessing how a medical expense might impact a long term projection, portfolio income needs helps retirees see how changes in healthcare spending affect their income that their plan has to produce, and where adjustments can be made without jeopardizing other things. This changes behavior, a retiree facing higher healthcare costs may decide to temporarily reduce discretionary spending instead of drawing more aggressively from investments. Another may shift income sources to cover a higher cost year without permanently increasing withdrawals. Others might time larger non urgent healthcare expenses around tax efficient income strategies so that the impact is absorbed more smoothly. Again, understanding your portfolio income needs doesn't eliminate trade offs but it makes them visible and visibility is what restores confidence Because instead of feeling like every decision could unknowingly break the plan, retirees understand which choices matter most and which adjustments are temporary and how today's decisions will ripple into the future. And that's what turns a retirement plan from a static document into a living guide, right? One that helps retirees navigate uncertainty without losing control. When flexibility begins to narrow. There's a reason this conversation matters most before retirement officially begins. Between roughly ages fifty five and sixty four retirees are in their most flexible planning phase. Income is still adjustable, tax strategies are fluid and healthcare decisions still offer meaningful choices and timing remains a lever not a constraint. But once retirement fully begins that flexibility starts to narrow. Medicare enrollment introduces fixed rules, Social Security decisions create long term consequences, required minimum distributions eventually lock in taxable income and healthcare costs become less optional and more reactive. At that point planning doesn't stop but the range of available moves shrinks. Decisions made earlier determine how much room there is later. A plan built before retirement has the opportunity to create buffers, build flexibility into income sources and prepare for variability. A plan adjusted only after retirement begins might have fewer levers to pull and this is why healthcare planning feels so different on either side of retirement. Understanding this shift isn't about rushing decisions, it's about recognizing when flexibility exists and using it intentionally. Because the most resilient retirement plans aren't the ones that predict the future perfectly, they're the ones that preserve options before the rules narrow them. Let's take a moment to talk about HSAs. Health savings accounts are often discussed as a niche benefit for a secondary planning tool, but in reality they play a much larger role in retirement healthcare planning than many people realize. At its core, an HSA is designed specifically for healthcare expenses and it comes with a unique set of tax advantages, contributions go in pre tax, growth is tax deferred and qualified healthcare withdrawals are tax free. That combination alone makes HSAs powerful, but what makes them especially valuable in retirement is how they interact with healthcare uncertainty. Unlike many retirement accounts, HSA funds can be used at any age for qualified medical expenses without triggering penalties or required distributions. They can cover premiums, out of pocket costs, prescriptions and other healthcare related expenses that inevitably arise over time. Because HSAs aren't subject to required minimum distributions, they give retirees another pool of assets that can be accessed strategically without forcing taxable income at inopportune times. That matters when healthcare costs spike, instead of increasing withdrawals from a taxable or a tax deferred account, retirees can use HSA funds to cover healthcare expenses directly, helping preserve other income sources and reducing pressure on the rest of your plan. HSAs also offer flexibility in timing, qualified expenses can be reimbursed long after they occur as long as proper records are kept. This allows retirees to decide when to take distributions not just whether to take them. For retirees navigating unpredictable healthcare costs that flexibility can make a meaningful difference not because HSAs eliminate healthcare risk but because they give retirees a dedicated tool built specifically to handle it more efficiently. And if this is making you think differently about how health care costs fit into your retirement plan, you're not alone. For many retirees this uncertainty doesn't come from the size of the numbers, it comes from not knowing how those numbers interact with everything else. So if you'd like clarity on how healthcare expenses, income needs, and flexibility actually work together for your specific situation, there's a link below where you can request a personalized review of your retirement plan. It's not about replacing what you've done, it's about understanding where your plan is resilient and where you might need to adapt before those decisions are harder to change. Again, click on the link below and request your personalized review. Let's move on to the comprehensive healthcare planning framework, how it all actually works, right? A comprehensive healthcare plan in retirement isn't built around a single number or a one time estimate, it's built around a process. The first step is stress testing healthcare costs inside the broader retirement plan, not in isolation. Instead of assuming one smooth path, your plan needs to look at multiple scenarios. Years with average costs, years with elevated expenses, and years where healthcare becomes a dominant variable. This helps identify where pressure shows up first and how much flexibility exists before lifestyle adjustments are required. Next, healthcare costs should be coordinated with income sources, rather than just increasing withdrawals automatically your plan should evaluate where income should come from in those higher cost years, taxable accounts, tax deferred accounts, or dedicated healthcare assets like an HSA. This prevents short term healthcare needs from permanently increasing long term withdrawals. From there taxes are layered in, higher healthcare spending often coincides with higher taxable income through distributions, premiums or surcharges. A dynamic framework monitors those thresholds so income decisions don't unintentionally trigger higher tax brackets or additional costs. Timing plays a role as well, some healthcare expenses can be anticipated, others can't. That plan should have checkpoints to reassess assumptions as health, coverage and policy rules will evolve over time and throughout the process everything should be anchored back to your portfolio income needs. Healthcare planning doesn't exist on its own and it needs to be evaluated through the lens of how much income that plan must reliably produce and how changes can affect your sustainability. When healthcare costs rise the plan doesn't panic it responds, Adjustments are made, trade offs are visible, and decisions are intentional. That's the difference between planning for healthcare and planning around healthcare. One treats it as an expense and the other treats it as a variable that has to be managed inside of a living retirement strategy. When Fidelity published its healthcare estimate, it wasn't trying to expose a flawed retirement planning, but it did. Not because again the number was shocking, but because it highlighted how many plans are built on assumptions that don't hold up in retirement. Healthcare doesn't suddenly become expensive, it became unpredictable and unpredictability is exactly where static plans struggle. Most retirement plans aren't fragile because they're poorly constructed, they're fragile because they're built to explain an average future, not navigating a changing one. And healthcare simply makes that weakness visible sooner. It arrives unevenly, it interacts with taxes, income and timing and it forces decisions at moments when flexibility matter the most. That's why so many retirees feel confident at first and then uncertain later, not because they planned incorrectly, but because their plan wasn't designed to adapt. So if you're within five years of retirement and you are ready to stop guessing and start understanding how your retirement plan actually holds up under real world conditions, click the link below where you can book a meeting with us to go over your situation and your concerns. Again, a good retirement plan is designed to help you see how healthcare costs, income needs, and flexibility interact in your situation, and where your plan may need to adapt before those choices become harder to change. Because the goal isn't to have a perfect projection, it's to have a plan that can respond when retirement doesn't follow the script. So until next time, take care.
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- [63 With $2.5 Million, Why Can’t We Retire?](https://rlwealthpartners.com/63-with-2-and-a-half-million-why-cant-we-retire/):  
- [How Much Do You Need To Retire In 2025?](https://rlwealthpartners.com/how-much-do-you-need-to-retire-in-2025/): (Click here to learn more about calculating Your Portfolio Income Needs {PIN}, discussed in the video)
- [The Key To Long-Lasting Retirement Wealth? A Smarter Withdrawal Plan](https://rlwealthpartners.com/the-key-to-long-lasting-retirement-wealth-a-smarter-withdrawal-plan/): (Click here to learn more about the 365 Retirement Plan, discussed in the video)
- [Fidelity Are Wrong! Use This Savings Rule Instead](https://rlwealthpartners.com/fidelity-are-wrong-use-this-savings-rule-instead/): {Click here to access the questionnaire mentioned in the video}
- [Why Everything About Retirement Changes After THIS Age](https://rlwealthpartners.com/why-everything-about-retirement-changes-after-this-age/): ::Click here to get started on the 365 Retirement Quiz referenced in the video::
- [What Should You Do With This Inherited Money?](https://rlwealthpartners.com/what-should-you-do-with-this-inherited-money/): Questions? Click here to get started with your complimentary consultation.
- [Why Retirement Changes After You Save $500k](https://rlwealthpartners.com/why-retirement-changes-after-you-save-500k/): Out of our thousands of hours of consultations with clients, we always got one question more than any other:
- [What To Do If You Think Your Retirement Isn’t On Track](https://rlwealthpartners.com/what-to-do-if-you-think-your-retirement-isnt-on-track/): Feeling off track financially for retirement? 
- [9 Retirement Goals To Achieve Before 65](https://rlwealthpartners.com/9-retirement-goals-to-achieve-before-65/):  
- [Things Rich Retirees Do That Poor Retirees Don’t](https://rlwealthpartners.com/things-rich-retirees-do-that-poor-retirees-dont/):   <click here to get started on addressing your retirement plan concerns>
 
Overview
This document summarizes the key differences in financial planning and behavior between wealthy and less wealthy retirees, as discussed in an interview featuring Ryan Marsten of Rabino and Laying Wealth Partners. The core idea is that rich retirees employ specific strategies and have a long-term mindset that poor retirees often lack, leading to significant differences in retirement outcomes.
 
Key Themes and Concepts
Efficient Tax Strategies: Description: Wealthy retirees are proactive about minimizing taxes throughout their retirement, focusing on a mix of pre-tax, after-tax, and tax-free savings vehicles (Roth IRAs, 401ks, taxable accounts, etc). They understand the tax implications of each account type. Quote: "Efficient tax strategies can mean a few different things, right? It can be the way you're saving for retirement, whether it's pre-tax, after tax, taxable, or tax-free." Key Insight: It's not just about saving; it's how you save and how you withdraw that significantly impacts your tax burden and overall wealth in retirement. A 5% difference in taxes can translate to a 5% increase in earnings. Poor Retiree Tendency: Often have most assets in pre-tax accounts, leading to a larger tax liability later. Optimal Order of Withdrawals: Description: Rich retirees strategically withdraw funds from different accounts based on their tax implications. They might start with taxable accounts to manage taxes, potentially converting pre-tax assets to Roth accounts during lower tax years. Quote: "If you're trying to make your plan or retirement the most efficient way possible, one of the strategies might be to draw some of the taxable money for current cash flow." Key Insight: This involves understanding the tax brackets and Required Minimum Distributions (RMDs) to maximize tax-free growth and minimize taxes over the long term. Poor Retiree Tendency: Withdraw from pre-tax accounts, facing full income tax liability and potentially larger RMDs later. Optimize Health Insurance: Description: Wealthy retirees carefully choose health insurance plans that best suit their health needs, looking beyond just the cheapest premium. They consider the long-term cost, including medication and potential health events. Quote: "You really want to explore, as opposed to just picking one at random... it might be most expensive or this is the least expensive one, and I'm going to save premium money." Key Insight: A cheaper premium doesn't always equate to lower overall health expenses, especially considering the high probability of health events in retirement. Poor Retiree Tendency: Often choose the cheapest plans without considering their specific needs, potentially leading to higher out-of-pocket expenses. Overfunding Emergency Fund Description: Rich retirees maintain a robust emergency fund to handle unforeseen expenses like home repairs, car replacements, or medical bills. This prevents dipping into retirement accounts, which can create additional tax liabilities. Quote: "You know, making sure you have a comfortable emergency fund for, you know, a good period of time to cover the unforeseen circumstances that seem to come up on, like, a yearly basis." Key Insight: Emergency funds provide a buffer so unexpected costs don't become a huge financial setback. Poor Retiree Tendency: Might not have sufficient emergency funds and rely on withdrawals from tax-deferred retirement accounts for unexpected costs leading to penalties and further reducing their retirement funds. Purchase Timing (Choosing Debt): Description: Wealthy retirees are strategic about when they make large purchases, understanding the impact of interest rates. They will strategically use debt to finance things, at optimal times. Quote: "Being cognizant of the rate market... looking at the current rate market is crucial." Key Insight: They take a long-term view, weighing whether delaying a purchase for better rates can save money long-term. Poor Retiree Tendency: May make purchases without considering the interest rate market, leading to higher debt costs. Optimizing Insurance Policies Description: Rich retirees regularly review their life insurance policies to make sure they still serve their intended purpose and are still needed. They avoid paying premiums on coverage that is no longer necessary or financially advantageous. Quote: "Optimizing insurance policies is making... reviewing your life insurance policies, making sure... the reason you took out those insurance policies is still the reason you're continuing those life insurance policies." Key Insight: They understand that insurance policies can become inefficient as circumstances change, and they adjust to optimize resources for other financial needs. Poor Retiree Tendency: Might keep unnecessary policies due to a lack of awareness or not thinking to do a regular review, resulting in wasted premium payments. Avoiding Unnecessary Spending Description: Rich retirees actively avoid unnecessary spending and understand that major spending decisions can have long-term repercussions on retirement funds. Quote: "Avoiding unnecessary spending... can have kind of, like, a ripple-down effect, right?" Key Insight: They are not driven by immediate gratification and are disciplined in their spending habits in retirement. Poor Retiree Tendency: May have a less disciplined mindset toward spending. Mindset and Behavior Differences Long-Term vs. Short-Term Focus: This is the biggest differentiator. Rich retirees focus on long-term tax implications and the overall effectiveness of their retirement plan, whereas poor retirees often prioritize immediate needs and short-term gains. Quote: "Are they short-term focused with a long-term focus? I think that's the biggest, biggest thing that they're they're doing." Financial Knowledge: Wealthy retirees are generally more knowledgeable about tax rules, investment strategies, and the impact of their financial decisions. Quote: "... having some sort of financial knowledge, at least at a basic level, is important." Proactive vs. Reactive: Rich retirees are proactive about planning, while poor retirees may be more reactive, making decisions without fully considering the long-term impacts. Understanding Withdrawal Rates: They understand the impact that larger withdrawal rates can have on their retirement portfolio, versus conservative withdrawal rates. Can Behavior Be Changed? The interview suggests that individuals with a short-term mindset can change their behavior by being educated on the long-term impact of decisions. Seeing how changes affect their plan’s probability of success can be a motivating factor. Small changes over time are more effective than drastic, short-term changes. Advice Regarding Financial Advisors Anyone, regardless of their financial situation, can benefit from working with a financial advisor. Fear of being told one cannot retire should be a motivator to seek financial advice sooner rather than later. A good advisor should not just say "yes" or "no" to retirement but should work with clients to find ways to improve their financial position, whether that’s working an extra year, reducing expenses, or other strategies. Conclusion
The differences between wealthy and less wealthy retirees boil down to proactive planning, a long-term view, and a commitment to financial knowledge.
By adopting a long-term perspective and implementing some of the strategies discussed, individuals can improve their chances of a more secure and comfortable retirement.
*Registered Investment Advisors and Investment Advisor Representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interests of our clients and to make full disclosure of any conflicts of interests. Please refer to our firm brochure, the ADV 2A item 4, for additional information*
- [Will My Social Security Benefits Be Reduced?](https://rlwealthpartners.com/will-my-social-security-benefits-be-reduced/): Claiming Social Security benefits can be one of the more complicated topics that you will address when nearing retirement. There are a multitude of rules that can have a significant and lasting impact on your future income stream and overall financial picture.
- [Why Are Americans So Afraid To Talk About Their Finances?](https://rlwealthpartners.com/why-are-americans-so-afraid-to-talk-about-their-finances/):            7:33Click for sound
- [4 Uncomfortable Retirement Truths No One Talks About](https://rlwealthpartners.com/4-uncomfortable-retirement-truths-no-one-talks-about/): In this video we discuss four uncomfortable retirement truths no one talks about.
- [65 With $1.5 Million in Savings, Why Can’t We Retire?](https://rlwealthpartners.com/65-with-one-and-half-million-in-savings-why-cant-we-retire/): 
- [The Simple 3-Step Medicare Guide](https://rlwealthpartners.com/the-simple-3-step-medicare-guide/): When, Why, and How to Choose a Plan That’s Right For You
- [The Dangers of Investing FOMO](https://rlwealthpartners.com/the-dangers-of-investing-fomo/): When you see headlines like, “Nvidia becomes world’s most valuable company…”5
- [Why Are Retirees So Afraid To Spend In Retirement?](https://rlwealthpartners.com/why-are-retirees-so-afraid-to-spend-in-retirement/): The fear of running out of money is so real that many retirees don’t spend and perhaps aren’t enjoying their retirement like they could.
- [The Three E’s Of A “Good” Retirement Plan?](https://rlwealthpartners.com/the-three-es-of-a-good-retirement-plan/): It’s been asked a million times: “What are the three most important financial goals you’d like to achieve with your investment portfolio?”
- [Risk Tolerance Vs. Risk Capacity: How Psychology Can Ruin Your Retirement Plan](https://rlwealthpartners.com/risk-tolerance-vs-risk-capacity-how-psychology-can-ruin-your-retirement-plan/): In the realm of investing and retirement planning, two crucial ideas are frequently interchanged, but possess separate definitions - risk tolerance and risk capacity.
- [5 IMMEDIATE Opportunities to Lower Your Taxes…](https://rlwealthpartners.com/5-immediate-opportunities-to-lower-your-taxes/): Taxpayers have plenty to be concerned about in 2024…
- [The Terrible Twos & Framing Expectations For Success In Retirement](https://rlwealthpartners.com/the-terrible-twos-framing-expectations-for-success-in-retirement/): “I do it MYSELF!” 
- [The Cycle of Fear, Greed, and Shrinking Returns](https://rlwealthpartners.com/the-cycle-of-fear-greed-and-shrinking-returns/): $100 is on the table, and you have a choice.
- [Unlocking Financial Opportunities: Is an In-Service Distribution Right for You?](https://rlwealthpartners.com/unlocking-financial-opportunities-is-an-in-service-distribution-right-for-you/): Properly implemented, an in-service distribution could be a worthwhile money move to consider, allowing you financial flexibility rarely associated with most retirement accounts. But how do you know if this financial strategy is right for you?
- [Knowing Your Monthly Budget Needs In Retirement](https://rlwealthpartners.com/knowing-your-monthly-budget-needs-in-retirement/): In this episode of After The Paycheck, Sam and Adam discuss:
- [How A Tax Planning Strategy Today Could Help Maximize Income In Retirement](https://rlwealthpartners.com/how-a-tax-planning-strategy-today-could-help-maximize-income-in-retirement/): When over 250 recent retirees were asked, in terms of expenses, what the biggest surprise was in retirement, do you know what the number one answer was? 1
- [Is a new recession warning flashing?](https://rlwealthpartners.com/is-a-new-recession-warning-flashing/): You've probably heard us say that consumers (like you and me) are the backbone of the U.S. economy.
- [The Best Method To Withdraw From Your Accounts In Retirement?](https://rlwealthpartners.com/the-best-method-to-withdraw-from-your-accounts-in-retirement/): Have you considered these factors to understand how much you'll need in retirement:
- [Are You Poised To Lose A Popular Tax Deduction In 2024?](https://rlwealthpartners.com/are-you-poised-to-lose-a-popular-tax-deduction-in-2024/): Currently, those who are age 50 and older can make catch-up contributions in their 401(k) accounts each year, with eligible workers allowed to put an extra $7,500 into their accounts, for a total of $30,000, this year.
- [The ‘Perfect Cocktail’ Strategy Used by Wealthy Investors](https://rlwealthpartners.com/the-perfect-cocktail-strategy-used-by-wealthy-investors/): What is it about your favorite cocktail that makes it perfect for you?
- [Unlock The Hidden Power Of Your Goals By Asking 3 Daring ‘Whys’](https://rlwealthpartners.com/unlock-the-hidden-power-of-your-goals-by-asking-3-daring-whys/): “If you aim at nothing, you will hit it every time.” – Zig Ziglar
- [Time-Weighted Rate of Return vs. Money-Weighted Rate of Return](https://rlwealthpartners.com/time-weighted-rate-of-return-vs-money-weighted-rate-of-return/): Understanding Performance Metrics for Informed Investment Decisions
- [Is ‘Greedflation’ Becoming A Reality?](https://rlwealthpartners.com/is-greedflation-becoming-a-reality/): While inflation has been cooling off from the craziness we saw in 2021 and 2022, it is still well above the Fed's targeted range of 2-3%.
- [The Common Mistakes Most Investors Make & How The Wealthy Act On It](https://rlwealthpartners.com/the-common-mistakes-most-investors-make-how-the-wealthy-act-on-it/): Will a recession arrive in 2023, and how bad will it be?
- [Your Tax Savings, Threatened? (How Wealthy Americans Unlock Hidden Uncertainty Tax Opportunities)](https://rlwealthpartners.com/your-tax-savings-threatened-how-wealthy-americans-unlock-hidden-uncertainty-tax-opportunities/): It can feel like the floor is about to fall out from under you when thinking about tax law changes. With each news release about what they’re considering, questions swirl through your mind like:
- [Five “Hidden” Tax Opportunities To Take Advantage of Before They Go Away](https://rlwealthpartners.com/five-hidden-tax-opportunities-to-take-advantage-of-before-they-go-away/): Have you been making good use of the recent tax code changes to legally reduce the amount of taxes that you pay each year?
- [5 Powerful Money Lessons You Didn’t Learn In School (But Essential In Life)](https://rlwealthpartners.com/5-powerful-money-lessons-you-didnt-learn-in-school-but-essential-in-life/): What's the hardest lesson you've ever had to learn about money?
- [Two Ways Time May Be Your Enemy In Retirement](https://rlwealthpartners.com/two-ways-time-may-be-your-enemy-in-retirement/): Time is your friend when you are accumulating and saving for retirement.
- [New Laws Could Change IRA Contributions and Withdrawal Rules for High Net Worth Individuals](https://rlwealthpartners.com/new-laws-could-change-ira-contributions-and-withdrawal-rules-for-high-net-worth-individuals/): Congress' Ways and Means Committee recently released the first draft of a major tax bill that could change the rules for IRA Contributions.
- [The Social Security Administration Announces 2022 COLA](https://rlwealthpartners.com/the-social-security-administration-announces-2022-cola/): 5.9% is the biggest COLA increase in decades.
- [How About A ‘Gap Year’ Before Your Retirement?](https://rlwealthpartners.com/how-about-a-gap-year-before-your-retirement/): For generations, teens in Europe have opted for a year off to adventure and see the world before starting their university educations – an interim commonly referred to as a "gap year". It turns out some American seniors are also taking a "gap year" between full-time work and retirement, but instead of avoiding campus, they are using the transition to take advantage of expanded adult education at our own colleges.  There are some trends encouraging this, and one will not surprise you. The COVID-19 pandemic, according to a 2021 AgeWave study, has led an estimated 68 million U.S. seniors to adjust their exit dates from their careers, professions, and businesses.
- [Supply Chain Kinks May Grinch the Holidays](https://rlwealthpartners.com/supply-chain-kinks-may-grinch-the-holidays/): October isn’t normally considered the hub of the Christmas shopping season.
- [Will You Receive A Step-Up In Basis For An Inherited Property?](https://rlwealthpartners.com/will-you-receive-a-step-up-in-basis-for-an-inherited-property/): In most cases, there is a step-up in basis when property is transferred from a decedent.
- [How Do Insurance Policies Effect Your Retirement Plan?](https://rlwealthpartners.com/how-do-insurance-policies-effect-your-retirement-plan/): Your life and health insurance policies are a key part of your overall financial plan. It’s important to review your policies each year to ensure that you have the coverage you need and/or implement proper coverage.
- [The Inevitable Drop](https://rlwealthpartners.com/the-inevitable-drop/): Market Watch says it’s not only possible – it’s probable – that you’ll see one-or-more market crashes over the course of your retirement.
- [Is Your Brain Sabotaging A Successful Retirement?](https://rlwealthpartners.com/is-your-brain-sabotaging-a-successful-retirement/): If you had to really think about EVERY POSSIBLE THING when making a decision, it would take a lot of time to make even the simplest choice. 
- [Will You Have To Pay Tax On The Sale Of Your Investment? (Flow Chart)](https://rlwealthpartners.com/will-you-have-to-pay-tax-on-the-sale-of-your-investment-flow-chart/):  
- [4 New Tax Proposals That Could Shake Your Retirement Plan](https://rlwealthpartners.com/4-new-tax-proposals-that-could-shake-your-retirement-plan/): Several of the suggested proposals in Biden’s tax plan could significantly affect retirees and how those nearing retirement build efficient retirement income plans.
- [Old 401k Options & The Pros/Cons Of Each](https://rlwealthpartners.com/old-401k-options-the-pros-cons-of-each/): When you change employers or enter retirement, you likely have four choices of what to do with your retirement account. Most of these steps will be the same whether your retirement account is a:
- [The Role Dividend Paying Stocks Play In Your Retirement Portfolio](https://rlwealthpartners.com/the-role-dividend-paying-stocks-play-in-your-retirement-portfolio/): The notion of using dividends in retirement, either as a way to complement other financial assets, or perhaps rely on them for an even larger percentage of income, is drawing plenty of interest these days.
- [Should You Consider A Roth Conversion? (Flow Chart)](https://rlwealthpartners.com/should-you-consider-a-roth-conversion-flow-chart/): Avoid paying unnecessary taxes in your retirement accounts.
- [Creating A Retirement Income Drawdown Strategy](https://rlwealthpartners.com/creating-a-retirement-income-drawdown-strategy/): Starting your social security withdrawals before full retirement age could result in THOUSANDS of dollars of reduced potential retirement income FOR THE REST OF YOUR LIFE.
- [Myths of Conventional Financial Wisdom](https://rlwealthpartners.com/myths-of-conventional-financial-wisdom/): In this episode Ryan and Adam cover five common phrases/rules of thumb often repeated on the topic of retirement planning, and explore reasons why/when that phrase may or may NOT be a great fit for your retirement planning situation:
- [3 Unexpected Challenges You May Face Heading Into Retirement](https://rlwealthpartners.com/3-unexpected-challenges-you-may-face-heading-into-retirement/): You may have heard this before, but if you think your retirement situation will be similar to that of your grandparents or parents, you may be in for a rude awakening.
- [Should Bonds Still Have A Role In Your Retirement Plan?](https://rlwealthpartners.com/should-bonds-still-have-a-role-in-your-retirement-plan/): Often considered The “rock” when the stock market is going haywire, bonds are like "an I.O.U. between the lender and borrower that includes the details of the loan and its payments."1
- [Market Update: Strong Data](https://rlwealthpartners.com/market-update-strong-data/): (Published Feb. 22nd, 2021)
- [Healthcare Options In Retirement](https://rlwealthpartners.com/healthcare-options-in-retirement/): One of the major considerations you'll need to take into account in retirement is figuring out your health insurance options. 
- [Market Update: Cruising Oil](https://rlwealthpartners.com/market-update-cruising-oil/): (Published Feb. 17th, 2021)
- [JDLTM – What Is The Color Of (Your) Money?](https://rlwealthpartners.com/jdltm-what-is-the-color-of-your-money/): Each week host Randy Cook interviews either Sam Liang, John Conley, or Ryan Marston to discuss issues and challenges that matter most to those planning for retirement or who are already retired.
- [Market Update: More Stimulus](https://rlwealthpartners.com/market-update-more-stimulus/): (Published Feb. 8th, 2021)
- [Would A Market Correction Affect Your Retirement Portfolio?](https://rlwealthpartners.com/would-a-market-correction-affect-your-retirement-portfolio/): Randy: we all worry about the market: is it going to continue to go up, or is it going to pull back? There's people who are optimistic about this year, but they say, you know what, the market does what the market does. This is Joe Fahmy, he's talking to the people over at Yahoo! Finance.
- [Market Update: Market Mayhem](https://rlwealthpartners.com/market-update-market-mayhem/): (Published Feb. 1st, 2021)
- [Market Update: Housing Continues To Soar](https://rlwealthpartners.com/market-update-housing-continues-to-soar/): (Published Jan. 25th, 2021)
- [You’ve Inherited Money, Now What Should You Do?](https://rlwealthpartners.com/youve-inherited-money-now-what-should-you-do/): If you’ve recently inherited money, you might be feeling a lot of emotions.
- [Market Update: Retail Takes Another Hit](https://rlwealthpartners.com/market-update-retail-takes-another-hit/): (Published Jan. 19th, 2021)
- [JDLTM: Are You In Your Second Financial Awakening?](https://rlwealthpartners.com/jdltm-are-you-in-your-second-financial-awakening/): The Just Don't Lose The Radio Show discussion from January 17th, 2021:
- [Market Update: New All Time Highs](https://rlwealthpartners.com/market-update-new-all-time-highs/): (Published Jan. 11th, 2021)
- [JDLTM: What To Consider For Your Retirement in 2021](https://rlwealthpartners.com/jdltm-what-to-consider-for-your-retirement-in-2021/): {{ script_embed('wistia', '01v10o6a53', '', 'inline,height=200px,width=389.908px') }}
- [Audio: 2020 Year End Checklist](https://rlwealthpartners.com/audio-2020-year-end-checklist/): In this episode of the Just Don't Lose The Money Radio Show, Sam and Randy go over a 2020 Year End Checklist, which discusses tax, retirement, portfolio, and estate planning needs!
- [Is Your Retirement ‘Check Engine Light’ On?](https://rlwealthpartners.com/is-your-retirement-check-engine-light-on/): In this episode of the Just Don't Lose The Money Radio Show, Randy and Ryan discuss:
  Is Moving Out Of State A Good Way To Avoid Paying Taxes In Retirement?
When/Should You Consider Converting Your 401(k) To A Roth IRA?
When Is The Appropriate Time To Talk About Retirement With A Financial Advisor?
From Business Owner To Retirement: The Tricky Task Of Taking The Assets You’ve Built With A Company And Convert Those Assets To A Retirement Nest Egg.  
- [Where To START When Thinking About Retirement And Your Income](https://rlwealthpartners.com/where-to-start-when-thinking-about-retirement-and-your-income/): Earlier this year we shared a post about The "Ostrich effect", which refers to the psychological tendency to avoid negative financial information by simply ignoring it (referring to how an ostrich sticks its head in the sand when it senses danger, thinking that this will prevent it from getting hurt).
- [Six Financial Actions To Take Before The End Of The Year](https://rlwealthpartners.com/six-financial-actions-to-take-before-the-end-of-the-year/): If you feel like someone took 2020 and tossed it in a blender, pressed start, and threw everything into chaos, you’re not alone.
- [Has Your Financial Literacy Been Declining?](https://rlwealthpartners.com/has-your-financial-literacy-been-declining/): Studies show that Americans think of themselves as financially savvy, but in actuality, financial literacy has been declining.
- [Unexpected Risks To Your Retirement Plan](https://rlwealthpartners.com/unexpected-risks-to-your-retirement-plan/): What comes to mind when you imagine something wiping out your retirement savings? A personal tragedy? A natural disaster? Maybe a recession?

## Pages
- [Retirement & Income Tax Snapshot](https://rlwealthpartners.com/retirement-income-tax-snapshot/): At Rubino & Liang Wealth Partners, we specialize in retirement income and tax planning for individuals age 55+ preparing for or living in retirement.
- [PIN 15 Min. Meeting Request – TY](https://rlwealthpartners.com/pin-15-min-meeting-request-ty/): Based on your answers, this 15-minute Snapshot should be useful. Choose a time below and we’ll come prepared.
- [Why 95% Of Retirees Still Struggle Even With Great Financial Plans](https://rlwealthpartners.com/why-95-of-retirees-still-struggle-even-with-great-financial-plans/): Most retirees don't fail at retirement because they planned poorly, they fail because their plan wasn't built for the world they're actually retiring into. People save diligently, follow advice, work with professionals, and look at projections that say everything should be fine, yet deep down something inside still feels uncertain and that feeling is justified because real retirement doesn't behave the way financial plans assume. Markets don't grow in straight lines, inflation doesn't stay steady, healthcare costs don't rise predictably and real spending doesn't follow a neat and tidy chart. So even highly prepared retirees can suddenly find themselves feeling stressed, confused or wondering whether their plan can truly hold up because the plan wasn't wrong, it was incomplete. That's why we're making this video to show you why even great financial plans can fail for most retirees and how building plans around retirement's real dynamic variables delivers the added security that static projections never could. Let's get right into it. Most financial plans are built on clean predictable assumptions, steady returns, modest inflation and a spending pattern that rarely changes. On paper, it all looks organized and reassuring but retirement doesn't behave that way, right? Markets fluctuate wildly from year to year, inflation rises unevenly across different categories of spending, healthcare costs can accelerate without warning, and people don't spend in straight predictable lines. This gap between how plans are built and how retirement actually unfolds is the root cause of why so many retirees struggle, even when their plan looked perfectly sound at the start. Static plans assume a stable environment, but retirement it's anything but stable, right? Research from the Society of Actuaries has shown that many traditional planning models use assumptions that don't reflect real world volatility, spending variability or behavioral changes. Which means the plans look solid on paper but aren't designed for actual retirement conditions. Without a framework that adapts to real life variability, retirees end up navigating unexpected market drops, shifting expenses, tax surprises, and changes in income needs, all with the plan that wasn't designed to move with them. And no static projection no matter how detailed can prepare someone for the impact of a volatile market sequence once withdrawals begin. That brings us to the next failure most plans overlook, how market volatility in early years of retirement can quietly undermine even the strongest portfolios. Most financial plans assume that markets will grow at a steady average rate, maybe six, seven or eight percent per year. But markets don't deliver returns in averages, they deliver them in sequences. And the sequence you retire into matters more than the average return you earn over time. If you retire during a period of strong early returns, your portfolio can grow even while you're withdrawing from it. But if you retire during a downturn or even a few flat years, the damage can be permanent even if long term averages eventually recover. That's because withdrawals amplify losses. When you're taking income from a declining portfolio, you're forced to sell more shares to generate the same amount of spending income. Those shares are then gone forever which means that they're not there to participate in the eventual market recovery. This is what derails so many retirees, not because they're investing or invested poorly but because their plan never accounted for the timing of returns. Morningstar has published multiple studies showing that this sequence of returns risk, the order in which gains and losses occur is one of the biggest drivers of whether a portfolio survives retirement. Traditional projections smooth out volatility and hide that risk, real retirement puts it front and center and once a retiree is withdrawing from a portfolio in a volatile market, the margin for error disappears quickly, setting the stage for the next major pressure most plans underestimate, the accelerating cost of healthcare. But if you're already wondering how vulnerable your current plan might be to this kind of market timing risk, this is exactly what we help retirees and those nearing retirement evaluate. If you'd like to take a deeper look at how your plan holds up under real world conditions, click the link below where you can request a personalized retirement analysis. Back to healthcare, it is one of retirement's biggest wild cards and one of the most underestimated. On paper, most plans assume a neat predictable increase each year but real life rarely follows that pattern. Data from Employee Benefit Research Institute shows that healthcare spending in retirement is highly variable and often increases faster than general inflation which is why so many retirees end up spending far more on it than their original plan projected. Premiums rise faster than expected, medications get more expensive, specialist care becomes more frequent and a single diagnosis can change both your lifestyle and your financial needs in an instant. Even with Medicare retirees still face premiums, deductibles, supplemental plan costs, prescription expenses and out of pocket spending that add up quickly and rises steadily over time. This creates a growing gap between what retirees expect to spend on healthcare and what they actually spend. And when that gap widens, retirees are often forced to make tough decisions, cutting back on travel, delaying home projects, reducing discretionary spending or withdrawing more from their savings than they initially planned. But the financial side is only half the story. Healthcare shocks and the uncertainty around them can deeply affect how retirees feel, behave and make decisions. And those emotional pressures often collide with another critical element most financial plans ignore, which leads us to one of the most misunderstood factors in retirement planning, the psychological and identity shifts that come with leaving the workforce. Retirement changes more than just your schedule, it changes your identity. For years work provides structure, purpose and a sense of contribution but when that disappears the emotional transition can be surprisingly difficult even for people who are financially confident. Some retirees cope by spending more than they planned trying to recreate the stimulation and fulfillment that work once provided and others might withdraw becoming overly cautious and spending far less than their plan allows because they fear running out of money. Neither pattern is captured in a traditional financial plan. Most plans assume spending will follow a neat curve and assume that emotions won't interfere with any decisions. They assume retirees will respond rationally to that uncertainty. But retirement is a deeply human experience, it's filled with new freedom and also new fears, questions and pressures. This is exactly why you need more than a traditional financial plan, you need a structure that supports both the financial and emotional side of retirement. This is why part of retirement planning isn't just about money, it's about building a framework for your lifestyle, your identity, and your emotional well-being. Part of navigating this shift is giving yourself clarity around what your days will look like, where your sense of purpose will come from, and how you're spending aligns with the lifestyle you genuinely want, not the one that you feel obligated to maintain. Money is the how you get to build your ideal lifestyle in retirement but money should not be the why. Retirees who thrive often build new routines, strengthen social connections and define what fulfillment looks like in this phase of their life. Their financial plan isn't ignored but it's used as a guide to support those decisions not restrict them and that's where a dynamic planning approach makes such a difference. It gives you guardrails, flexibility and ongoing checkpoints so you can make confident decisions instead of reacting emotionally when uncertainty shows up. If a plan doesn't account for this emotional shift it's incomplete because financial security alone doesn't guarantee a fulfilling retirement. Now that you understand what plans miss from the emotional perspective, let's look at a comprehensive dynamic framework that actually delivers added retirement confidence. So if traditional plans fall apart because they're built on fixed assumptions, then a plan built for real life has to do the opposite right, it has to evolve with you. And that begins with clarity, defining your portfolio income needs or your pin as we like to say. The number that represents what a fulfilling sustainable lifestyle will actually cost you each year. It isn't a generic benchmark, it's not a rule of thumb, and it's not a random number, it's a real number. And how do you assess your portfolio income needs? If you can confidently write down your monthly expenses, clearly separating your essential needs from your discretionary wants, if you can, you can calculate your portfolio income needs by taking that number, turning it into an annual needs amount, subtracting any guaranteed income sources like a pension or social security, and start to determine if you could withdraw that amount on an annual basis from your portfolio for an extended period of time. As we noted a moment ago, your spending over the years is going to vary, but understanding that you have those essential expenses covered can really help you psychologically feel more confident in your readiness for retirement. From there a dynamic plan evaluates every moving part of your retirement, market cycles, tax brackets, social security timing, required minimum distribution projections, and income sources that will shift over time. But what makes it dynamic isn't just the data that attracts, it's how you adjust for it. Here's how that actually works in practice. A dynamic plan is reviewed regularly not to reinvent your strategy but to make small course corrections as life unfolds. When markets are strong, you actually might reduce withdrawal percentages or use it to capture gains in the market. When the markets are weak, you might shift to more stable income sources to protect your portfolio. When spending patterns change your plan adapts to maintain its sustainability, and when tax laws shift you can adjust your withdrawal sequence or your Roth conversion strategy. Or as your healthcare needs evolve your spending plan adjusts without derailing the rest of your retirement. Individually each adjustment is small, but when they all work together, they help you to avoid that compounding mistake that can cause so many retirees to run into trouble. And what makes this approach so effective, is not just the financial side, it's how it changes your day to day experience in retirement. A dynamic retirement plan acts like an ongoing guide, instead of wondering whether you're still on track, your plan shows you clearly where you stand. Instead of guessing what your market drop means, your plan recalculates your income path in real time. Instead of being surprised at tax time, your plan helps you anticipate what's coming and adjust before that becomes a problem. This gives retirees something traditional plans can't provide, confidence that is rooted in feedback, not just a wing and a prayer right? Because real retirement is fluid, your lifestyle, your health, your spending, your priorities all shift over time, retirement today operates under a new set of rules and you need a strategy that's fluid enough to move with those ebbs and flows of real life, not the assumption of static projections and numbers. And this is where working with the financial advisor becomes essential because a modern wealth plan should work more like a Jeep's guide. Constantly monitoring your path, recognizing when conditions change and recalibrating your route when needed. If there's trouble up ahead, your plan should automatically reroute to keep you on the right path with as few bumps in the road as possible. This kind of planning gives retirees something far more valuable than a projection, the ability to adapt, make informed decisions year after year and stay secure no matter how retirement unfolds. It transforms retirement from something you hope will work, into something that you can actively manage with confidence. Retirement today demands more than a traditional financial plan right? Again, most retirees don't struggle due to lack of preparation, they struggle because their plan wasn't built to handle the real challenges of retirement. Market swings, healthcare shocks, tax law changes, emotional transitions, and the unpredictability of life after work. If you want help creating a comprehensive retirement plan that accounts for real world variables, click the link below to schedule a call where we will review your situation and show you exactly how our three sixty five retirement planning process works, which helps to create a plan designed to work every day of the year, so you don't have to. Okay, click on the link below and get started. I hope this breakdown brought clarity to your planning process, and until next time take care.
- [Is One Million Dollars Still Enough To Retire At Age 60?](https://rlwealthpartners.com/is-one-million-dollars-still-enough-to-retire-at-age-60/): Out of our thousands of hours of consultations with clients, we always got one question more than any other:
- [Why I’m Not Waiting Until $1.5M to Retire – Don’t Wait](https://rlwealthpartners.com/why-im-not-waiting-until-1-and-a-half-million-to-retire-dont-wait/): Out of our thousands of hours of consultations with clients, we always got one question more than any other:
- [365 Retirement Plan Intro Call – TY](https://rlwealthpartners.com/get-started-ty/): You've just taken one of the most important steps you can take with your retirement situation — deciding to get clarity.
- [Once You Understand This, You’ll Want To Stop Working Past 58](https://rlwealthpartners.com/once-you-understand-this-youll-want-to-stop-working-past-58/): Out of our thousands of hours of consultations with clients, we always got one question more than any other:
- [Get Started – 2025](https://rlwealthpartners.com/get-started-2025/): There are three really important things about our firm that separate us from others:
- [Why Retirement Changes After You Save $500k – LP](https://rlwealthpartners.com/why-retirement-changes-after-you-save-500k-lp/): Out of our thousands of hours of consultations with clients, we always got one question more than any other:
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- [365 Retirement Plan – How Much Do You Need To Retire?](https://rlwealthpartners.com/365-retirement-plan-quiz-2025-2/): Gain clarity and confidence in your retirement situation with our 365 Retirement Assessment.
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- [Nearing Retirement?](https://rlwealthpartners.com/nearing-retirement-case-study/): With a realization of the variety of investment accounts - including 401ks from former employers, stock options, and multiple brokerage accounts - that accumulated over her years as a medical researcher, Debbie began thinking about retirement.
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- [WealthGuard](https://rlwealthpartners.com/wealthguard/): We are a provider of WealthGuard™, an incredibly simple, yet powerful, early warning system that monitors all your investment accounts daily, so you can invest with the added confidence that there’s a plan in place to help protect your investments in all market conditions. Providing you with added peace of mind, WealthGuard™ securely tracks all your accounts in one place, including asset allocation and overall performance, and will alert client and advisor so that a specific plan of action can be initiated to help protect your accounts while keeping you focused on your long-term investment goals.
- [Retirement Income Planning](https://rlwealthpartners.com/services/retirement-income-planning/): Did you know that only about 20% of the retiring workforce have pensions anymore? That means that now, more than ever before, planning your income in retirement is crucial for pursuing a successful future. The retirement landscape is constantly changing, with emerging technology, changes to the economy, different political settings, and even how we choose to spend and invest our money.
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