Episode Transcript
[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:27] Speaker B: Welcome to Retirement your Way with Amerilife of Central Florida, the show that puts you in control of your financial future. Your hosts, Bradley and Madison Hardin, are a trusted husband and wife team dedicated to helping you design a retirement that fits your lifestyle, your goals, and your vision for the years ahead. From smart income strategies and Social Security planning to protecting your wealth and living life on your own terms, this is the place where financial clarity meets coastal confidence. Whether you're just entering the retirement red zone or already enjoying your golden years, Bradley and Madison are here to guide you every step of the way. This is retirement your way. Let's build the future you deserve.
[00:01:12] Speaker A: Hello and welcome to another edition of Retirement your Way with Amerilife of Central Florida. I'm Matt McClure here alongside Bradley Hardin with Amerilife of Central Florida. Of course. Hey there, Bradley. How's it going?
[00:01:25] Speaker C: I am doing well. Matt, good morning. Good to see you. How are you?
[00:01:28] Speaker A: Good to see you as well. I'm doing very, very well. I appreciate it and as always, of course, appreciate all of the expertise and the knowledge and the wisdom that you bring to the show each and every time.
You and of course, Madison, who is your, your wife, who is not joining us on this particular episode but is always there with you working, helping people make their retirements what they really want and have it their way really is what they what, what the deal is with you guys and what you all do each and every day. And we're going to cover a lot of that on the show today, how you help people sort of retire once and retire right.
They don't have to retire again, in other words. A lot of Americans, though, are worried that they'll have to return to work. But we'll talk about that and we'll talk about what to do about it. But before we kind of get into sort of the meat of the show, I did want to say a big thank you to all of our listeners who are tuning in. Whether you're tuning in on the radio across the great state of Florida or whether you are tuning in to the podcast and you can find us wherever you get your podcast, just subscribe. We'd appreciate that. Leave us a good rating and a comment and recommendation and all of the things tell your friends and tell, tell your family, tell everybody about retirement your way. Just search for that show title there in your podcast apps. Also on YouTube, you can see different YouTube videos and highlights from the show. Just search for retire your way there. And also do not hesitate one more second to reach out to Bradley and Madison at A Mere Life of Central Florida. They can help you sort through any questions that you may have about your retirement plan. Do you have retirement income? Do you have enough money to last the rest of your life? Have you figured out your Social Security strategy just yet? How do you maximize or really optimize that? Go to plan retirement your way dot com. That's plan retirement your way dot com. You can get that free consultation scheduled or give them a call. 386-977-9684. That's 386-977-9684. And so on today's show, as I said, we're going to talk about that fear of unretiring and why Americans really are rethinking what retirement means.
We'll also talk about lifetime income, how to build that, how to create that paycheck that doesn't retire.
Give you a bit of a market update. We'll also talk about the government shutdown and how it could affect your bottom.
Well, so a lot to get to here during this half hour of the show.
First, though, let's get a little inspiration for our conversation, shall we? We'll do that with our quote of the week.
[00:04:12] Speaker B: And now for some financial wisdom. It's time for the quote of the week.
[00:04:19] Speaker C: Yes. And so the quote of the week this week comes from none other than Warren Buffet himself.
And he said someone sitting in the shade today because someone planted a tree a long time ago.
So again, someone is sitting in the shade today because someone planted a tree long time ago.
So it's, it's just about thinking ahead, planning for retirement. And you know, like Matt said, today's episode is going to be revolved around the fear of unretiring. So we see people retire and then things come up in their life, unexpected expenses and they may seek a part time job or and sometimes it's not for money, sometimes it's for enjoyment or connection to other people. But again, if you truly do want to retire, it's about thinking ahead, planting that tree and having that shade.
[00:05:14] Speaker A: Yeah, it really is. I mean, if you want to be able to sit in the shade, you know, the best time to have planted that tree was 20 years ago. Because if you plant a tree this week and you want to sit in the shade next week, you. That's not a lot of shade for you. So, you know, you got to plant the tree, you got to take care of it, you got to fertilize it, make sure it gets the sun, the water, make sure that it gets all the things that it needs to grow and to thrive. Same thing with your retirement plan. You got to nurture it, you got to take care of it so that you don't have to un. Retire.
When it comes right down to it, you know, a lot of people are afraid that that's really what they are going to have to do. And we want you to be in a situation where you can go back to work if that's something that you want to do, not something that you have to do. But, you know, there was this Newsweek article that basically said, you know, retirement kind of used to be seen as this time of rest and reward. Right. You know, you worked hard, you stopped working, you lived comfortably off of your savings and your Social Security, maybe a pension as well. But that vision of retirement has really been changing, and it's changing pretty fast these days.
This Newsweek article highlights data from the U.S. bank 2025 Wealth Report. A lot of Americans no longer confident that they'll stay retired once they are retired. There's a growing number who fear they'll need to unretire and return to the workforce just to make those ends meet.
Share some of these key stats and the findings from this survey with us, Bradley.
[00:06:45] Speaker C: Right. So they surveyed 5,000 U.S. adults in this 2025 U.S. bank Wealth Report, and it does paint a worrying picture. So of the people surveyed, 63% say they do expect to return to work after retiring.
And that 61% believe their retirement could last 15 years or more.
But only 58% feel their money will last that long.
So again, in previous episodes, and a lot of our conversation is outliving your money, which is what's causing people to potentially have to go back to work is that fear of running out and say an 81 say that retiring today is harder than it was for their parents.
So again, you guys out there that are retiring are facing new challenges than your parents and your grandparents did.
[00:07:43] Speaker A: Yeah. And that the 19 left over are just wrong. No, I'm just kidding.
But no, that is a huge, huge number. 81% saying that it is harder to retire now than it was for their parents. And it's really reshaping that. That sort of anxiety that all of these numbers spell out here is really reshaping how Americans either plan or don't for life after work. So what really did we see here that that's driving this fear?
[00:08:15] Speaker C: So one of the main factors driving that fear is employers shifting to self funded retirement plans rather than your pension.
Right. So if I knew I was getting a pension and Social Security, which your parents and grandparents, they, they may had, that's one of the reasons why they may have had an easier time retiring. Whereas the, our clients today, they retire with Social Security benefits as their only stream of guaranteed income and are trying to figure out what to do with this 401k or IRA or whatever Alphabet you have this retirement plan.
And in trying to come up with a strategy to overcome inflation, the rising costs and market volatility, those have contributed to Americans feeling more financially insecure.
[00:09:11] Speaker A: Yeah, it's a lot of different aspects that are leaving or leading rather to that fear.
You know, we talked about on a recent show longevity risk, you know, that, that living longer than you're saving is also a major factor. You talked about how you've got some clients that are pushing 100 and I bet those clients feel a lot better pushing 100 after having worked with you all to come up with a plan for themselves to make sure that they don't outlive that money. And then there's also, you know, a psychological element here. A lot of retirees just sort of emotionally struggle with drawing down that savings that, that they've been in, you know, sort of that accumulation phase that we talk about. They've been in that accumulation phase for so long, taking themselves and sort of adjusting that mindset to the drawdown phase or the decumulation phase, taking income off of what they've saved. That can just be a real sort of mind bender for them. And they're just like, I don't know what to do with this now.
[00:10:16] Speaker C: Right. And we've said we sit with a lot of people who have enough in retirement savings and income. And as long as we have the right plan, we sit with plenty of folks that have enough to be able to sustain their ideal retirement for the next 20, 30, 40 years.
But until we met with them, they were scared, right. They didn't know the numbers, how everything was going to work out. And so part of our, our planning is eliminating that worry that well, I'm going to draw down these accounts and be dependent again. I don't want to be dependent, I want to be independent.
[00:10:52] Speaker A: And you know, there's a reality versus versus a perception sort of concept here with this whole topic as well as you know, is Unretiring is going back to work actually that common?
I think a lot of times we'll find that with just human nature, we'll, we'll fear things that may or may not be the most rational for us to fear or at least like proportionally, you know, the amount of fear that we should have to the chances that this will actually become our reality, that's just out of balance. And so this is essentially what we see here. I mean, that truly unretiring, returning to full time work for income, according to this article anyway, is rare.
But a lot of retirees believe that it's likely.
But the more common thing they say is sort of cycling into something else. Right. Like maybe a part time job, maybe doing consulting gigs, gig work of whatever sort of nature and doing that, as we say, because you want to or for. To give yourself some purpose and some structure and not just for the money aspect of things. Right, right.
[00:12:05] Speaker C: No, I agree. And, and you know, there's a personal finance expert, Bobby Rebel notes that many older adults crave connection and contribution and not necessarily another paycheck. Right. So as you mentioned, Matt, some of our, our clients are going back into the workforce simply to connect with other people and to not feel alone or be alone and maybe, maybe their spouse passed away at an unexpected age and, and they want to get out. And you know, that's not going to be everybody. But, you know, still the data does show a clear shift that 19% of Americans age 65 and older are still working, which has doubled from the share from just 35 years ago.
[00:12:52] Speaker A: Yeah, and, and a lot of that, you know, could have to do as well with the longevity piece here because people are living longer, so they're working longer. But it still is a clear shift that more people over that age of 65 are still working.
So what do we do then? Briley, I know, I know this is, this is probably a fear that at least I would imagine you and Madison have had to calm for a lot of people over, over the years.
So how do you kind of calm that fear for folks?
[00:13:24] Speaker C: Right. So the first thing that we always go through is figuring out what our budget is. So what are, and I like to call them, our mandatory minimums. Right, Your health care, taxes, insurance, gas, food. So we need to get all that out on a chart, figure out what our income is so we can really, truly identify a budget.
And then next we would stress test that plan against different inflation rates, market drops, healthcare shocks, potentially needing long term care, and the last few years of life and we, we try to use conservative assumptions, right? We want to plan to live longer, we want to build in potentially higher healthcare costs and prepare for volatility because over preparing is never a bad thing. So if you over prepare, right, and then it comes up short where that just means you're going to have plenty of extra money to leave behind or spend or use. And so we want to assume the worst, hope for the best, plan for the worst, if you will.
And lastly is visiting and monitoring that plan on a regular basis and making adjustments as we need to.
[00:14:37] Speaker A: Yeah, that's the thing. It's not a set it and forget it kind of a thing. You've got to make sure that you check in on it. Make sure that you're getting the performance that you need and want from whatever you have invested or saved for your retirement years and just making sure that it's still working for you as hard as you have worked for it to save it up over the years and to invested over the years.
And it's not just a one time event. That really is the bottom line here. And the fear of unretiring does reflect deeper sort of economic realities, but it doesn't have to define you and your future folks. You know, we got to have that strong income plan. You got to have diversified savings, realistic assumptions about longevity and inflation. You can actually retire with confidence instead of anxiety.
And I would encourage you to call Bradley and Madison Hardin with Amerilife of Central Florida so that they can help you get a plan in place that's going to account for all of those things that's going to accomplish those goals that you need to get accomplished. And it's very easy to get a hold of them for that. No obligation consultation, just go to planretirementyourway.com it's planretirementyourway.com or give a call to AmeriLife of Central Florida, 386-977-9684. That's 38697 9684.
So you know, I mean we talk about this, you know, sort of concept of, you know, you, you go into retirement, you are used to getting a paycheck every week or every couple of weeks, maybe once a month, whatever your, your cycle, your pay cycle was during that time you retire. And that just really kind of doesn't happen anymore except for maybe Social Security. That's kind of that check that comes or that direct deposit that comes these days.
But you know, you've got to have peace of mind. And I think one of the great ways to have peace of mind is to sort of replace that paycheck that was coming in your working years.
Because that Social Security. Yeah, that deposit is going to come, but it's not going to replace all of that income that you had when you were working.
So let's talk here a little bit, Bradley, about how you all go about working with folks to create a paycheck that doesn't retire. You know, I mean, that you may retire, but your paycheck doesn't, right?
[00:17:02] Speaker C: No, and I agree, Matt. And it's about, you know, understanding that Social Security was not intended to be your retirement plan. Right. It was intended to replace 35 to 40% of those working wages. So we want to make a plan to overcome as much as we can of that deficit.
So by blending annuities, pensions, and Social Security, we want to make sure we cover those essentials and reduce the fear of running out of money.
So, you know, three ways to build lifetime income. Well, one way would be through a pension.
So you do have the opportunity to create a personal pension through an annuity contract that says, we will pay you lifetime income no matter what.
So an example, and this is just a round, easy example, is, let's say maybe a $200,000, you know, deferred annuity could provide a thousand or more dollars per month when you go to turn that on. And, and we can set those personal pensions up to be single payout, joint payout.
We're going to add beneficiaries on there in case you pass away early. The value of that annuity would then pay out to your beneficiaries. And so we had a show where, you know, it's not your grandfather's retirement, and the contracts that are available today are certainly not your grandfather's annuity contracts either.
Second way would be Social Security optimization.
Now, for those that may be able to see the video on the YouTube channel, you may or may not see this, but we hold our RSSA designation, which stands for Registered Social Security Analyst.
So that gives all of us here on the, on the program today the ability to run road maps for people and help optimize those benefits.
So sometimes waiting until age 70, as opposed to age 62, can boost that benefit up by 76%.
And when we do spousal planning, we also take into consideration deferring that benefit to potentially be the benefit that your spouse will receive.
And so, all in all, it's a blended approach.
So we use annuity contracts, Social Security payments, and a blend of distributions from the balance of those retirement accounts to really hone in on the foundation of your paycheck that will not retire.
[00:19:40] Speaker A: Yeah, and that's the thing is it's got to be, you know, really customized for you.
There was actually a study as well out of MSU Denver where university employees there were under saving, they didn't have guaranteed income options. And by adding lifetime income choice and lowering plan costs just a bit, they gave employees more efficiency and more security there. So it's just kind of a real life example of how that worked in one particular group of people because their retirement readiness scores jumped 122% in just one year. And that really proves the point that this blended plan of guarantees and growth can really dramatically improve outcomes. So chances are you, you don't have that workplace that's doing those things that is going to actually take and make those moves.
Chances are if you are working in the private sector, you got a 401k and that's kind of it. Chances are if maybe you're a federal employee, you've got that TSP and that's kind of it.
You know, let's get you those other sources that you can turn into income for the rest of your life to make sure that you've got that Social Security planning in place so that you know when you're going to get the maximum benefit, not just for you, but maybe for you. And if you're married, your spouse, if you, even, even if you have an ex spouse, that, that could be a potential situation where if you have not remarried, then you could take advantage of that spouse's Social Security benefit.
As far as the dollar amount goes, you could be eligible for up to 50% of that if they were the higher earner. So it's, there are a lot of different options and different aspects to take into consideration here.
And so, you know, get those, those paychecks, the paychecks and the playchecks to make the life that you really want and need in your retirement and make it all work for you again. Give a call to Bradley and Madison Hardin with Amerilife of Central Florida, 386-977-9684. The number once again, 386-977-9688. You can also go online to planretirementyourway.com that's plan retirement your way.com and Bradley, I want to just take a second here as I just mentioned, the phone number and the website and of course we'll give those again as we go out through, on through the show here.
The Listeners, of course, can, can give you a call. Can you go to the website, schedule that consultation, start working with you today, give just a little bit of an overview of what that process is like when people reach out and get started.
[00:22:28] Speaker C: Right. So initially when you guys reach out, we get that information and it only comes to Madison and I. So you don't have to worry about putting in your information and it being farmed out to a different agent or somebody else within the Amerilife umbrella. No, those all come directly to us.
And what I do initially is I simply call you. Hey, this is Bradley. You heard us on the radio.
And the first objective is to schedule that in person visit.
Right. So it's a chance for us to meet one on one, sit down, review your current situation, identify some goals and then we, we never really give advice on that first visit. That first visit is just getting to know each other.
Then Madison and I will go back home, build a plan, try to help achieve those goals, meet with you a second time and kind of go over what we've discussed and established in the meantime. So that's what you guys can expect. Again, you're not putting in your information for it to be farmed out. It does come directly to us and we schedule those visits here locally.
[00:23:36] Speaker A: Very good. And it's plan retirement your way.com that is the website. Plan retirement your way is the way to reach out there. And of course, we'll get the contact info again before we're done here in just a few minutes. First though, we're going to talk about a bit of a market update here with some political uncertainty in the last month or so, really leading people to seek safety in their 401ks. And Bradley, you know, it looks like a lot of people. There was a CNBC article here that we were looking at that shows a lot of people invested in 401ks really played it safe. In September, according to new data, more people moved their retirement money out of stocks into cash and bonds. And that's a sign really, that nervousness is creeping back after some rocky weeks on Wall Street.
[00:24:25] Speaker C: Right, right, I agree. And there are some people that say the market right now is, is really overvalued and at some point it, there's going to be a big correction. Now again, we know recently we had a tariff conversation, S and P was down a few points, but generally that did come back in for the most part. But people who are nearing retirement and getting ready to, you know, hang up their working hat, they, they don't want to suffer another 2008, another 20, 22, just to name a few.
So they're, they're shifting to more safety, which makes sense, right? Because if I may only have six months, 12 months a year, two or three years left to go in my work career, I just simply can't afford to have a 20 or 30% hit to my portfolio because that then I now run the risk of having to extend my working career.
And, and we didn't circle that day on the calendar as a joke. We circled that day because we're going to hit it.
[00:25:27] Speaker A: That's right. That's right. I mean, we want it, we want to hit that date. We don't want it to hit us in the face and us not be ready for it. That's kind of what, what we want. And so, and what we need. And that's the thing a lot of people are seeking more safety. Another thing just before we run here, Bradley, that we're keeping an eye on is this government shutdown big, you know, happenings in Washington or I guess lack of happenings in Washington with the government shutdown and what that means for your money. Congress unable to reach an agreement on federal budget spending before the latest deadline. The showdown over the shutdown here is really over Affordable Care act subsidies and Medicaid funding cuts. And those are going to be some big flashpoints heading into next year's midterms.
The, the kind of takeaway here, at least for me, Bradley, is the shutdowns. They really happen more often than people think.
And I think the thing that we can look at too, in these numbers that we found or actually that Morgan Stanley found and published, was that it's not a huge economic impact usually.
[00:26:34] Speaker C: Right. No. And, and some say that, you know, the, the economists say that the economy actually grew by about 2.2% on average during past shutdown quarters. So in the markets do respond quickly back during these types of events. And you know, the S P has actually risen an average of 4.4% during previous shutdowns.
Now, the bond markets may see a little volatility, but treasury yields typically fall as investors seek safety.
So again, it's about that shift, you know, whether it's during the shutdown or those couple years before retirement of where's a safe place? Where can I go where I'm not going to be too affected by what's going on in the news cycles in the economy.
And again, if you're feeling like that or you are looking for some alternative solutions to help overcome that fear, then as Matt will say just give us a call.
[00:27:35] Speaker A: Yeah. And the number is 3869-7796-8438-6977, 9684 or go to planretirementyourway.com all right Bradley, that's going to do it for this edition of the show. It has once again come and gone quickly. But thank you sir for everything that you bring to the table every week and we'll do it again next time.
[00:27:56] Speaker C: You're welcome Matt. Happy to be be here. Happy to educate the public and looking forward to seeing those people in person. Take care now.
[00:28:03] Speaker A: That's right. And you listening out there. Thank you as well. We'll see you again for another edition of the show.
[00:28:08] Speaker B: Thanks for joining us for Retirement your way with AmeriLife of Central Florida. Our goal is to bring clarity and confidence to your retirement journey. Remember, Bradley and Madison Hardin are here to help you create a personalized plan for the future you deserve.
If you'd like to schedule a no cost, no obligation consultation, give the team a call at 386-977-9684 or visit planretirementyourway.com and don't forget to tune in next week, same time, same place for more strategies, insights and support to help you live retirement your way. Investment Advisory Services offered through Brookstone Capital Management, llc, bcm, a registered investment advisor. BCM and Amerilife are separate companies but are affiliated through Common Ownership Insurance. Products and services are not offered through VCM, but are offered and sold through individually licensed and appointed agents not affiliated with the United States Government. Bradley and Madison Harden do not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations. Opinions expressed are subject to change without notice. These opinions are not intended to predict future performance of any product. All information provided is believed be to to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. This information is intended to be educational in nature and does not provide a guarantee or specific result. All copyrights and trademarks are the property of their respective owners. Amerilife assumes no responsibility or liability for the content of this message. The information contained herein is provided on an as is basis with no guarantees of completeness, accuracy, usefulness, timeliness, or the results obtained from the use of this information.
[00:29:42] Speaker A: Bradley Hardin and Amerilife of Central Florida are not affiliated with or endorsed by the Social Security Administration or any other government agency.
