Achieve Financial Success in Retirement

On today’s episode of the Wiser Roundtable Podcast, the team will be recapping our series on retirement and going over the five steps to achieve financial success in retirement.

Listen on Apple Podcasts or watch on YouTube:


1. Manage Cash Flow

When you retire, you stop having an income, so not having any payments (car loan, mortgage, etc.) is crucial. Paying off debt is almost like getting a tax-free income because it increases your disposable income in retirement. In your working years, income is typically coming from one place. In retirement, your income could come from social security, pension payments and your portfolios. This is where a Financial Advisor can come in to help you optimize those payments.

2. Build and Maintain Cash Reserves

Cash you need to have in retirement is different than what you needed in your working years. Cash reserves are a buffer in retirement that keeps you from having to go into the principal of your investments. Even in retirement, life happens. Opportunities and emergencies come up that could need cash. Keeping a 2-year cash bucket provides a safety net.

3. Maintain Investing Discipline

Our behavior is typically what derails us. Sometimes the best thing to do in a portfolio is absolutely nothing. The media sells fear and responding to a supposed market fall emotionally can cause huge losses in the portfolio. At Wiser Wealth Management, our portfolios are constructed to look beyond the events that occur from time to time in the market and have built-in long term capital market assumptions that include events that may occur. The best day of the stock market comes after the worst day of the stock market.

4. Avoid Carrying Debt

It is not uncommon for people to carry a lot of debt. Through our hourly planning program at Wiser Wealth Management, we work with a lot of clients to free up their cash flow from student loans, car payments, and credit card bills, among others. Our clients experience such relief once those debts are paid off and they are able to build up their savings. Amid Covid, we had so many clients reach out and tell us how thankful they were that they did not have to worry about any debts, including their home mortgage. The whole concept is to live your life, not the life you think you should have or that it seems like others have.

5. Maximize Social Security

The whole point here is that we want to make sure that you are getting the best from social security and are not using fear to cause you to draw too early. To be clear, you should delay your social security until 70 unless there is a good reason. This is because you get an 8% bonus every year that you wait, plus you get the inflation as well.

Coming Soon… Tax Planning Series!

Jordan Sute from Sute CPAs will be joining us for this quarter to discuss tax planning. Throughout this series, we will be meeting with Jordan and a few more special guests. We are excited for this series because now is a valuable time to talk about taxes, so that there is still time to be proactive before the end of the year and Tax Day. We encourage all of our listeners to tune in!


1:39 Manage Cash Flow

4:31 Build and Maintain Cash Reserves

7:13 Maintain Investment Discipline

13:44 Avoid Carrying Debt

19:50 Maximize Social Security

26:22 Tax Planning Series


Learn more about Casey Smith and connect with him on Twitter.

Learn more about Brad Lyons.

Learn more about Matthews Barnett.


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Learn more about the Wiser Wealth Management Roundtable podcast and access previous episodes.


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