40. Roth Friendly Annuities: What Retirees Need to Know

46. The Future of Social Security: What Retirees Need to Know | Martha Shedden

Like what you heard in this episode? 🗓️ Schedule a Retirement Income Q&A call with Dr. Amanda: calendly.com/rsf-dramanda/initial-consultation [https://calendly.com/rsf-dramanda/initial-consultation] 🎥 The YouTube version of this video is here: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] ✍🏼 The Blog Version of this video is here: www.retirementsolutionsfinancial.com/blog [https://www.retirementsolutionsfinancial.com/blog] Social Security is one of the most important sources of retirement income, yet it's also one of the most misunderstood. In this special Retirement Income School™ interview, I sit down with Martha Shedden, co-founder and president of the National Association of Registered Social Security Analysts (NARSSA), to discuss how Social Security really works and why your claiming decisions can have a lasting impact on your retirement income.  We cover the history and purpose of Social Security, claiming strategies, spousal and survivor benefits, taxation of benefits, and the biggest misconceptions retirees face today. Most importantly, we address the question that's on everyone's mind: What does the future of Social Security really look like, and should retirees be worried? Whether you're approaching retirement or already collecting benefits, this conversation will help you make more informed Social Security decisions. SHOWNOTE LINK: https://actuary.org/socialsecurity/ [https://actuary.org/socialsecurity/]  TIMESTAMPS: 00:00 – Introduction 01:10 – Meet Martha Shedden & NARSSA 02:05 – The History of Social Security 04:10 – Why Social Security Is Your Retirement Income Floor 06:15 – Full Retirement Age & How Benefits Are Calculated 09:30 – Spousal Benefits Explained 15:45 – Survivor Benefits & Divorced Spouse Rules 20:10 – Real-Life Claiming Strategy Example 22:50 – How Social Security Benefits Are Taxed 25:35 – How I Use RSSA Software With Clients 26:20 – The Future of Social Security 27:20 – Will Social Security Run Out of Money? 29:15 – Potential Changes Congress Could Make 33:20 – Should You Claim Early Because You're Worried? 34:00 – Martha's Final Advice for Retirees 34:45 – Closing & Retirement Income School™ 📅 Want to Find Out More?: Schedule a Q&A Call with Dr. Amanda [https://calendly.com/rsf-dramanda/initial-consultation] 💰 Join Us in the Retirement Income School™: www.RetirementIncome.School [https://www.retirementincome.school] 📽️ Watch Retirement Income School™ Content on YouTube: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] 💰 Watch The Guaranteed Income Blueprint™: www.retirementsolutionsfinancial.com/guaranteed-income-blueprint [https://www.retirementsolutionsfinancial.com/guaranteed-income-blueprint] 📬 Contact Dr. Amanda: Email: DrAmanda@RetirementSolutionsFinancial.com LinkedIn: @RetirementIncomeSchool [https://www.linkedin.com/company/retirementincomeschool] About Dr. Amanda Amanda Barrientez | PhD, RICP®, RSSA®, NPN #19460436 IBC Practitioner®, Ed Slott's IRA Advisor Group Member® Court of the Table Member MDRT®  Dr. Amanda is the founder of Retirement Solutions Financial™ and creator of the Retirement Income School™. After losing her father and helping her mom navigate retirement, she felt called to help others avoid the stress and confusion of planning alone. She specializes in safe money strategies using dividend-paying whole life insurance, fixed index annuities, long-term care coverage, and Social Security claiming strategy. Her mission? To help you protect your wealth and enjoy a secure, stress-free retirement with confidence. ⚠️ DISCLAIMER The information in this podcast is provided for general educational purposes only and does not constitute financial, legal, or tax advice. Retirement Income School™ and Dr. Amanda Barrientez do not provide individual investment recommendations. Always consult with a licensed advisor or tax professional before implementing any strategy discussed.

45. Why the 4% Rule Falls Short (Dr. Wade Pfau Explains)

Like what you heard in this episode? 🗓️ Schedule a Retirement Income Q&A call with Dr. Amanda: calendly.com/rsf-dramanda/initial-consultation [https://calendly.com/rsf-dramanda/initial-consultation] 🎥 The YouTube version of this video is here: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] ✍🏼 The Blog Version of this video is here: www.retirementsolutionsfinancial.com/blog [https://www.retirementsolutionsfinancial.com/blog] The 4% rule has been the cornerstone of retirement income planning for decades—but is it still the best strategy for today's retirees?  In this lesson, I'm joined by retirement income expert and bestselling author Dr. Wade Pfau, one of the world's leading researchers on safe withdrawal strategies and the safety-first approach to retirement planning. Together, we discuss the history of the 4% rule, why it may leave retirees feeling financially stressed, and how guaranteed lifetime income can create greater confidence throughout retirement. We also explore sequence of returns risk, risk pooling, spending shocks, the surprising research linking guaranteed income to greater retirement happiness, and why building an income floor may be one of the most important decisions you make before retiring. If you're looking for a smarter way to turn your savings into reliable retirement income, this conversation is one you won't want to miss. Timestamps: 00:00 Welcome to the Retirement Income School 01:18 Meet Dr. Wade Pfau 02:20 The History Behind the 4% Rule 05:45 Why the 4% Rule Falls Short Today 09:40 Understanding Safety-First Retirement Planning 14:30 Building a Guaranteed Income Floor 18:15 How Risk Pooling Makes Annuities Different 24:10 Planning for Spending Shocks in Retirement 28:45 The Research on Happiness and Guaranteed Income 33:20 Why So Many People Hesitate to Use Annuities 37:45 A Simple Retirement Income Action Plan 40:30 Final Thoughts 🔗Dr. Wade Pfau Links: Retire with Style Podcast: https://retirewithstyle.com/ [https://retirewithstyle.com/] https://retirewithstyle.com/Retirement Researcher: https://retirementresearcher.com/ [https://retirementresearcher.com/] https://retirementresearcher.com/Retirement Planning Guidebook: https://amzn.to/4vBVU3r [https://amzn.to/4vBVU3r] https://amzn.to/4vBVU3rSafety First Retirement Planning: https://amzn.to/4vBVU3r [https://amzn.to/4vBVU3r] 📅 Want to Find Out More?: Schedule a Q&A Call with Dr. Amanda [https://calendly.com/rsf-dramanda/initial-consultation] 💰 Join Us in the Retirement Income School™: www.RetirementIncome.School [https://www.retirementincome.school] 📽️ Watch Retirement Income School™ Content on YouTube: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] 💰 Watch The Guaranteed Income Blueprint™: www.retirementsolutionsfinancial.com/guaranteed-income-blueprint [https://www.retirementsolutionsfinancial.com/guaranteed-income-blueprint] 📬 Contact Dr. Amanda: Email: DrAmanda@RetirementSolutionsFinancial.com LinkedIn: @RetirementIncomeSchool [https://www.linkedin.com/company/retirementincomeschool] About Dr. Amanda Amanda Barrientez | PhD, RICP®, RSSA®, NPN #19460436 IBC Practitioner®, Ed Slott's IRA Advisor Group Member® Court of the Table Member MDRT®  Dr. Amanda is the founder of Retirement Solutions Financial™ and creator of the Retirement Income School™. After losing her father and helping her mom navigate retirement, she felt called to help others avoid the stress and confusion of planning alone. She specializes in safe money strategies using dividend-paying whole life insurance, fixed index annuities, long-term care coverage, and Social Security claiming strategy. Her mission? To help you protect your wealth and enjoy a secure, stress-free retirement with confidence. ⚠️ DISCLAIMER The information in this podcast is provided for general educational purposes only and does not constitute financial, legal, or tax advice. Retirement Income School™ and Dr. Amanda Barrientez do not provide individual investment recommendations. Always consult with a licensed advisor or tax professional before implementing any strategy discussed.

44. Will Your Annuity Cover Your RMD at 73?

Like what you heard in this episode? 🗓️ Schedule a Retirement Income Q&A call with Dr. Amanda: calendly.com/rsf-dramanda/initial-consultation [https://calendly.com/rsf-dramanda/initial-consultation] 🎥 The YouTube version of this video is here: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] ✍🏼 The Blog Version of this video is here: www.retirementsolutionsfinancial.com/blog [https://www.retirementsolutionsfinancial.com/blog] /////////////// 44. Will Your Annuity Cover Your RMD at 73? If you own an annuity inside an IRA, one of the biggest questions you'll face in retirement is whether it will satisfy your Required Minimum Distribution (RMD). The answer depends on the type of annuity you own.  In this episode, Dr. Amanda explains how RMDs work beginning at age 73 (or 75 for some retirees), how they're calculated, and how different annuities—including MYGAs, Fixed Indexed Annuities (FIAs), and FIAs with income riders—handle RMDs. You'll also learn key RMD rules, aggregation strategies, and common mistakes to avoid so you can simplify your retirement income plan with confidence. Timestamps: 00:00 – Will Your Annuity Cover Your RMD? 01:00 – What Is an RMD? Age 73 & 75 Rules Explained 02:20 – Which Retirement Accounts Require RMDs? 03:00 – IRA, 401(k), 403(b), and Roth IRA RMD Rules 06:00 – How to Calculate Your RMD Each Year 07:00 – Understanding the IRS Uniform Lifetime Table 09:00 – First-Year RMD Rules & Roth Conversion Timing 10:00 – How MYGAs Handle RMDs 11:45 – How Fixed Indexed Annuities (FIAs) Handle RMDs 12:30 – $450,000 FIA RMD Example at Age 75 14:00 – Three Ways to Take RMDs from an FIA 15:00 – How Income Riders Can Automatically Cover Your RMD 16:00 – QLACs: Delaying RMDs Until Later in Retirement 17:00 – Comparing MYGAs, FIAs & Income Riders for RMDs 18:00 – Final Takeaways & Next Steps 📅 Want to Find Out More?: Schedule a Q&A Call with Dr. Amanda [https://calendly.com/rsf-dramanda/initial-consultation] 💰 Join Us in the Retirement Income School™: www.RetirementIncome.School [https://www.retirementincome.school] 📽️ Watch Retirement Income School™ Content on YouTube: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] 💰 Watch The Guaranteed Income Blueprint™: www.retirementsolutionsfinancial.com/guaranteed-income-blueprint [https://www.retirementsolutionsfinancial.com/guaranteed-income-blueprint] 📬 Contact Dr. Amanda: Email: DrAmanda@RetirementSolutionsFinancial.com LinkedIn: @RetirementIncomeSchool [https://www.linkedin.com/company/retirementincomeschool] About Dr. Amanda Amanda Barrientez | PhD, RICP®, RSSA®, NPN #19460436 IBC Practitioner®, Ed Slott's IRA Advisor Group Member® Court of the Table Member MDRT®  Dr. Amanda is the founder of Retirement Solutions Financial™ and creator of the Retirement Income School™. After losing her father and helping her mom navigate retirement, she felt called to help others avoid the stress and confusion of planning alone. She specializes in safe money strategies using dividend-paying whole life insurance, fixed index annuities, long-term care coverage, and Social Security claiming strategy. Her mission? To help you protect your wealth and enjoy a secure, stress-free retirement with confidence. ⚠️ DISCLAIMER The information in this podcast is provided for general educational purposes only and does not constitute financial, legal, or tax advice. Retirement Income School™ and Dr. Amanda Barrientez do not provide individual investment recommendations. Always consult with a licensed advisor or tax professional before implementing any strategy discussed.

43. The 4th Bucket Strategy: Turn Home Equity into Retirement Income (with Don Graves)

Like what you heard in this episode? 🗓️ Schedule a Retirement Income Q&A call with Dr. Amanda: calendly.com/rsf-dramanda/initial-consultation [https://calendly.com/rsf-dramanda/initial-consultation] 🎥 The YouTube version of this video is here: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] ✍🏼 The Blog Version of this video is here: www.retirementsolutionsfinancial.com/blog [https://www.retirementsolutionsfinancial.com/blog] /////////////// 43. The 4th Bucket Strategy: Turn Home Equity into Retirement Income (with Don Graves) Most retirees spend decades building wealth in their 401(k)s, IRAs, investment accounts—and their homes. But when it comes time to create retirement income, many people overlook one of the largest assets they own: their home equity. In this episode of Retirement Income School, Dr. Amanda sits down with retirement housing wealth educator Don Graves to discuss The 4th Bucket Strategy and how today's FHA-insured reverse mortgage—known as a Home Equity Conversion Mortgage (HECM)—can be used as a proactive retirement planning tool instead of a last-resort financial product. You'll learn how the 4th Bucket can provide liquidity during market downturns, help reduce sequence of returns risk, support Roth conversion strategies, prepare for long-term care expenses, and create greater flexibility for retirement spending—all while dispelling many of the myths surrounding reverse mortgages. If you've never considered housing wealth as part of your retirement income plan, this conversation may change the way you think about one of your most valuable retirement assets. Don Graves Education Links: www.housingwealthmasterclass.com [http://www.housingwealthmasterclass.com]www.HousingWealthCalculator.com  [https://www.HousingWealthCalculator.com ]www.HousingWealthInstitute.com/blog [http://www.HousingWealthInstitute.com/blog] www.YouTube.com/askdongraves [http://www.YouTube.com/askdongraves] www.Housingwealthinstitute.com/contact-us [https://www.Housingwealthinstitute.com/contact-us] Timestamps: 00:00 Introduction 01:20 Meet Don Graves 02:18 What Is a HECM (Modern Reverse Mortgage)? 06:10 Understanding IJAM 09:40 Why Home Equity Is the "4th Bucket" 15:05 Using Housing Wealth as a Market Hedge 19:40 Long-Term Care Planning with Home Equity 23:15 Common Reverse Mortgage Myths 28:30 Wade Pfau's Research on Sequence Risk 31:05 Using a Reverse Mortgage for Roth Conversions 34:05 Why Every Retiree Should Know Their Housing Wealth Options 36:10 Using the 4th Bucket Alongside Annuities 38:20 Final Thoughts 📅 Want to Find Out More?: Schedule a Q&A Call with Dr. Amanda [https://calendly.com/rsf-dramanda/initial-consultation] 💰 Join Us in the Retirement Income School™: www.RetirementIncome.School [https://www.retirementincome.school] 📽️ Watch Retirement Income School™ Content on YouTube: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] 💰 Watch The Guaranteed Income Blueprint™: www.retirementsolutionsfinancial.com/guaranteed-income-blueprint [https://www.retirementsolutionsfinancial.com/guaranteed-income-blueprint] 📬 Contact Dr. Amanda: Email: DrAmanda@RetirementSolutionsFinancial.com LinkedIn: @RetirementIncomeSchool [https://www.linkedin.com/company/retirementincomeschool] About Dr. Amanda Amanda Barrientez | PhD, RICP®, RSSA®, NPN #19460436 IBC Practitioner®, Ed Slott's IRA Advisor Group Member® Court of the Table Member MDRT®  Dr. Amanda is the founder of Retirement Solutions Financial™ and creator of the Retirement Income School™. After losing her father and helping her mom navigate retirement, she felt called to help others avoid the stress and confusion of planning alone. She specializes in safe money strategies using dividend-paying whole life insurance, fixed index annuities, long-term care coverage, and Social Security claiming strategy. Her mission? To help you protect your wealth and enjoy a secure, stress-free retirement with confidence. ⚠️ DISCLAIMER The information in this podcast is provided for general educational purposes only and does not constitute financial, legal, or tax advice. Retirement Income School™ and Dr. Amanda Barrientez do not provide individual investment recommendations. Always consult with a licensed advisor or tax professional before implementing any strategy discussed.

42. Why $2M in Retirement Savings Still Feels Stressful

Like what you heard in this episode? 🗓️ Schedule a Retirement Income Q&A call with Dr. Amanda: calendly.com/rsf-dramanda/initial-consultation [https://calendly.com/rsf-dramanda/initial-consultation] 🎥 The YouTube version of this video is here: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] ✍🏼 The Blog Version of this video is here: www.retirementsolutionsfinancial.com/blog [https://www.retirementsolutionsfinancial.com/blog] /////////////// 42. Why $2M in Retirement Savings Still Feels Stressful Why do so many retirees with $2 million, $3 million, or even $5 million still feel anxious about money? In this episode of the Retirement Income School, Dr. Amanda explains why a large nest egg does not automatically create peace of mind. The real issue is not just how much you have saved - it is knowing how much you can safely spend, how to create reliable income, and how to protect yourself from market stress, tax surprises, and the fear of running out. Dr. Amanda walks through the four biggest retirement fears she sees most often, why tax-deferred accounts can make your net worth look larger than your true spendable wealth, and how building an income floor with guaranteed income sources can help create more confidence in retirement. She also shares a practical example showing how a couple can turn part of their IRA into predictable lifetime income while keeping the rest invested for growth. Timestamps: 00:00 Why $2M in retirement savings can still feel stressful 00:42 The real question your nest egg does not answer 01:23 Why net worth can be misleading in retirement 02:18 The IRA tax trap and the "IOU to the IRS" concept 03:27 Fear #1: Outliving your money 04:09 Fear #2: Market volatility controlling your spending 04:50 Fear #3: Not enjoying the money you saved 06:01 Fear #4: The stress of spending down assets 07:53 The real cause of retirement anxiety: no income plan 08:42 Why predictability matters more than a bigger portfolio 09:12 What an income floor is and why it matters 09:42 The essential expenses your income floor should cover 10:34 The 3 sources of guaranteed retirement income 11:23 How annuities can fill an income gap 12:04 Research on why annuity owners feel less stressed 12:43 Case study: Sam and Sally's $2 million IRA 13:44 Using $600,000 to create guaranteed income 14:17 How delaying income can increase monthly payouts 16:15 How annuity carrier options change over time 17:18 Enhanced income payments and long-term care features 18:07 Example: $67,883 per year in guaranteed income 19:20 Why this payout is higher than a 4% withdrawal strategy 20:36 How lifetime income helps protect against longevity risk 21:16 Understanding the doubler and income rider features 22:07 Fees, transparency, and death benefit basics 23:51 Addressing the concern that kids get nothing 25:15 Creating a personalized pension with part of your IRA 26:11 Why an income floor helps you ignore market swings 27:03 The biggest takeaway: retirement confidence comes from a plan 27:35 How to take the next step in building your income floor 28:34 Educational disclaimer 📅 Want to Find Out More?: Schedule a Q&A Call with Dr. Amanda [https://calendly.com/rsf-dramanda/initial-consultation] 💰 Join Us in the Retirement Income School™: www.RetirementIncome.School [https://www.retirementincome.school] 📽️ Watch Retirement Income School™ Content on YouTube: www.youtube.com/@RetirementIncomeSchool [https://www.youtube.com/@RetirementIncomeSchool] 💰 Watch The Guaranteed Income Blueprint™: www.retirementsolutionsfinancial.com/guaranteed-income-blueprint [https://www.retirementsolutionsfinancial.com/guaranteed-income-blueprint] 📬 Contact Dr. Amanda: Email: DrAmanda@RetirementSolutionsFinancial.com LinkedIn: @RetirementIncomeSchool [https://www.linkedin.com/company/retirementincomeschool] About Dr. Amanda Amanda Barrientez | PhD, RICP®, RSSA®, NPN #19460436 IBC Practitioner®, Ed Slott's IRA Advisor Group Member® Court of the Table Member MDRT®  Dr. Amanda is the founder of Retirement Solutions Financial™ and creator of the Retirement Income School™. After losing her father and helping her mom navigate retirement, she felt called to help others avoid the stress and confusion of planning alone. She specializes in safe money strategies using dividend-paying whole life insurance, fixed index annuities, long-term care coverage, and Social Security claiming strategy. Her mission? To help you protect your wealth and enjoy a secure, stress-free retirement with confidence. ⚠️ DISCLAIMER The information in this podcast is provided for general educational purposes only and does not constitute financial, legal, or tax advice. Retirement Income School™ and Dr. Amanda Barrientez do not provide individual investment recommendations. Always consult with a licensed advisor or tax professional before implementing any strategy discussed.