Retire Early Podcast

You’ve worked hard, saved diligently, and finally reached retirement, or you’re nearly there. But it can feel hard to shift from saving to truly enjoying your money. In this episode, Sam Benson and Linwood Fraher dig into the real-life questions and anxieties that keep retirees from booking bucket-list trips, updating their homes, or enjoying the things they've dreamed of for decades.

They discuss how even those with million-dollar portfolios can feel paralyzed when it's time to spend. You’ll learn why the financial industry’s old “4% rule” can be both helpful and limiting, and what actually happens to your spending needs as you journey through retirement, from the energetic go-go years to the gradual slowdown, and finally into your later decades.

00:00: Understanding Retirement Withdrawals

03:50: Personalizing Your Retirement Plan

09:06: Discussing retirement spending strategies

13:04: Assessing and strengthening financial plans

15:13: When to travel vs. save

17:57: Planning for market downturns

Learn more about working with Sam Benson and Linwood Fraher at www.martinwealth.com

Retiring at age 55 can significantly affect your future Social Security benefits, since official benefit estimates assume you will keep working and earning at your current level until retirement. Stopping work early introduces zero-income years into your record, which can reduce your calculated payout.

In this episode of the podcast, Sam Benson and Linwood Fraher explain how Social Security benefits are calculated and how early retirees can strategically plan around potential benefit reductions. They cover important topics like understanding your online Social Security statement, bridging early-retirement income gaps, and leveraging lower-income years for tax planning.

00:00 — Does retiring at 55 change your Social Security statement?

01:47 — Understanding your online SSA statement

03:45 — How Social Security is calculated: The 35-year rule and zero-earning years

05:10 — Retiring early vs. claiming early

06:28 — Strategies for delaying Social Security to offset early retirement reductions

07:13 — Managing the multi-stage income gap from age 55 to 70

08:27 — Key questions when building an early retirement income plan

11:42 — The Rule of 55 and alternative early withdrawal options

13:42 — Recreating your paycheck by blending income sources and protecting baseline expenses

14:16 — Tax planning opportunities: Using lower-income years for Roth conversions

Learn more about working with Sam Benson and Linwood Fraher at www.martinwealth.com

A 401(k) with its complex rules and withdrawal limits can often leave early retirees feeling restricted. Managing it unprepared means navigating strict government regulations, taxes, and penalties right when you want to access your funds for retirement.

In this episode of the Retire Early Podcast, Sam Benson and Lynwood Freyer discuss why 401(k) accounts have strict rules and how early retirees can navigate them. They break down three critical questions around 401(k) access, rolling over funds, and generating retirement income to help you avoid costly mistakes and unlock your savings.

00:00 — Introduction: Why a 401(k) feels like wearing handcuffs

01:47 — Why 401(k) accounts are designed to restrict early access

03:45 — Accessing funds early: The Rule of 55, loans, and hardship withdrawals

05:10 — The cost of early withdrawals: Income taxes and the 10% penalty

06:28 — Should you leave your 401(k) or roll it over to an IRA?

07:13 — Analyzing plan fees, expense ratios, and fund quality

08:27 — Why rolling over can ruin Rule of 55 access or backdoor Roth strategies

11:42 — How to convert 401(k) funds into sustainable retirement income

13:42 — Tax planning considerations and managing withdrawal strategies

14:16 — Sequence of return risk and shifting from accumulation to decumulation

Learn more about working with Sam Benson and Linwood Fraher at www.martinwealth.com

Receiving a large inheritance can completely change your financial picture—but it can also create new risks, tax considerations, family complications, and emotional pressure.

In this episode of Retire Early, Sam Benson and Linwood Frayer discuss how to prepare for a potential inheritance before it arrives and what to do after receiving it. They explain why you shouldn’t reduce your savings or increase your spending based on an expected inheritance, how different inherited assets can carry very different tax implications, and why major financial decisions are often best postponed while you’re grieving. They also cover some of the biggest mistakes people make with inherited wealth—including treating principal like income, becoming overly conservative with the money, and becoming too generous too quickly.

Topics Discussed:

00:00 — Preparing for a potential inheritance

01:00 — The emotional side of inherited wealth

03:00 — Planning for an inheritance without depending on it

05:00 — Why emotion can lead to costly decisions

05:30 — Don't save less or spend more because an inheritance is coming 06:15 — Why an inheritance doesn't automatically mean you can retire 07:00 — How long-term care can dramatically reduce an expected inheritance

08:00 — Understanding the tax implications of inherited assets

09:00 — Inherited IRAs and distribution planning

10:00 — Modeling different inheritance scenarios

11:00 — Wills, trusts, beneficiaries, and professional relationships

12:30 — Why you should keep an inheritance private

13:15 — Having inheritance conversations with your parents

15:00 — Creating an estate and asset checklist

16:00 — What to do once the inheritance arrives

17:00 — Avoiding major financial decisions while grieving

18:00 — What needs immediate attention—and what can wait

19:00 — Understanding exactly what you've inherited

20:00 — The risks and expenses of inherited real estate

21:00 — Build the financial plan before the investment portfolio

23:00 — Mistake #1: Treating principal like income

24:00 — Mistake #2: Becoming too conservative

25:00 — Mistake #3: Becoming too generous too quickly

26:00 — Assigning specific goals to inherited money

27:00 — Updating your own estate plan and slowing down

Connect with Sam and Linwood at www.martinwealth.com

One of the most common and difficult questions anyone nearing their target retirement date faces is, “Should I wait just one more year to retire?” Retirement is a major life transition, and working an extra 12 months can profoundly affect both your financial security and your personal life.

In this episode of Retire Early, Sam Benson and Lynwood Freyer discuss the pros and cons of delaying retirement by just one year. They discuss how a final year of employment can boost your retirement savings, increase your Social Security benefits, and allow you to pay down remaining debt. On the flip side, they explore the non-financial trade-offs, explaining why spending your time on earth, avoiding workplace burnout, and enjoying your health while you still have it are compelling reasons to hang it up now.

00:00 — Introduction: Should you work one more year before you retire?

01:15 — The financial pros: Maximizing your 401(k) and retirement savings

02:18 — How an extra year affects your Social Security calculations and monthly benefits

03:40 — Evaluating employer benefits: Keeping quality health insurance before Medicare

05:10 — Using a final working year to become completely debt-free

07:13 — Portfolio impacts: Reducing the timeline and size of your retirement withdrawals

09:04 — Treating your final year as a "practice year" to test your retirement budget

12:11 — The cons of working longer: Recognizing that time in retirement is finite

13:39 — Factoring in physical health, mental health, and unexpected life events

15:22 — Dealing with workplace burnout and high-stress environments

16:41 — Avoiding regrets and missed milestones with friends and family

19:53 — Final thoughts and how to weigh the data for your own retirement timeline

Learn more about working with Sam Benson and Lynwood Freyer at martinwealth.com

One of the biggest questions facing anyone who wants to retire before age 65 is simple: What do you do about health insurance?

Leaving your job often means leaving employer-sponsored health coverage behind — but Medicare may still be years away. That gap can become one of the largest expenses in an early retirement plan.

In this episode of Retire Early, Sam Benson and Linwood Fraher break down three major ways to cover healthcare before Medicare: ACA Marketplace insurance, COBRA, and employer-sponsored coverage. They discuss the tradeoffs between premiums and benefits, why your income and healthcare needs matter, and why simply choosing the cheapest option can expose your retirement plan to significant risk.

00:00 — The healthcare challenge when retiring before Medicare

Learn more about working with Sam Benson and Lindood Fraher at martinwealth.com.

The decisions you make with your investments as you approach retirement can have consequences that last for decades.

In this episode of the Retire Early Podcast, Certified Financial Planners Sam Benson and Linwood Fraher discuss three of the biggest investment mistakes they see people make heading into retirement, and how planning ahead can help you avoid them.

The conversation begins with the story of an investor who watched the market fall during COVID while preparing for retirement. Fear took over, and he moved his investments into CDs. Years later, he regretted the decision.

Sam and Linwood explain why retirement investing isn't simply about avoiding market losses. You need a strategy for turning your portfolio into a paycheck, managing taxes, maintaining enough long-term growth to keep pace with inflation, and preparing your plan for the unexpected.

For decades, your employer provides a paycheck. In retirement, that responsibility shifts to you and your portfolio.

Without an income distribution strategy, retirees can end up taking money from the wrong accounts at the wrong time, overspending, or unexpectedly increasing their tax bill. Sam explains how something as simple as taking a large IRA distribution for a vehicle could potentially push someone into a higher tax bracket.

The goal is to understand how much you'll need, where the money will come from, and how your different accounts can work together to recreate a dependable retirement paycheck.

Market volatility becomes much more intimidating when retirement is close.

That fear can lead investors to abandon the market entirely for CDs, Treasuries, savings accounts, and other conservative investments. While those assets can have an appropriate role in a retirement strategy, moving everything to short-term investments creates another risk: your money may fail to keep pace with inflation and your long-term spending needs.

Sam and Linwood discuss investors who sold during major downturns—including the 2008 financial crisis and the COVID crash, and then remained on the sidelines during the recovery.

A retirement plan shouldn't only work when everything goes right.

What happens if investment returns are lower than expected? Inflation runs higher? Social Security benefits change? Spending increases? A major home repair arrives? Or one spouse dies earlier than anticipated?

Stress-testing a retirement plan means deliberately modeling difficult scenarios to identify its weak points before those problems actually happen.

The goal isn't to predict the future. It's to build enough flexibility into the plan that unexpected events don't automatically derail your retirement.

00:00 — A Retirement Decision He Regretted

01:00 — The 3 Biggest Investment Mistakes Near Retirement

02:00 — Mistake #1: No Retirement Paycheck Plan

03:00 — Taking Money From the Wrong Accounts

04:00 — How Much Can You Actually Spend?

05:00 — Mistake #2: Getting Out of the Market

06:00 — The Hidden Problem With "Safe" Investments

07:00 — Spend Your Retirement While You Can Enjoy It

08:00 — Recovering From Emotional Investment Decisions

10:00 — Why COVID Felt Different

11:00 — Mistake #3: Failing to Stress-Test Your Portfolio

12:00 — Preparing for Major Retirement Expenses

13:00 — What Happens When the Plan Goes Wrong?

14:00 — The 3 Mistakes to Avoid

15:00 — Where to Start

In this episode of the Retire Early Podcast, financial advisors Sam Benson & Linwood Fraher of Martin Wealth Solutions address a common question among people approaching retirement: Should I retire now or work one more year?

Sam and Linwood explain how an additional year of work could affect several parts of a retirement plan. Working longer may provide another year of income, retirement account contributions, employer benefits, and potential investment growth while also reducing the number of years your portfolio must support you. However, the decision is not purely financial.

They also discuss the importance of evaluating healthcare coverage, Social Security timing, retirement income, current expenses, and whether the additional year would meaningfully improve the strength of your plan. The episode encourages listeners to weigh the financial benefits of continuing to work against their health, family priorities, personal goals, and the value of their time.

For anyone standing at the edge of retirement, this conversation offers a helpful framework for determining whether one more year is necessary—or whether you may already be ready to begin the next chapter.

http://retirewithmartin.com/ ← Learn about working with us

www.planwellretirehappy.com

00:00 Introduction: Should you work one more year?

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

In this episode of the Retire Early Podcast, financial advisors Sam Benson & Linwood Fraher of Martin Wealth Solutions discuss why many early retirees end up paying more in taxes than necessary—and what they can do to avoid it.

Sam and Linwood explain that retirement creates unique tax planning opportunities, but without a strategy, retirees can unknowingly increase their tax bill. They discuss how different account types are taxed, why withdrawal sequencing matters, and how careful income planning can help reduce lifetime taxes. They also cover common mistakes involving Social Security, Required Minimum Distributions (RMDs), Roth conversions, and Medicare premium surcharges, showing listeners how proactive planning can keep more money working for them instead of going to the IRS.

Whether you're planning to retire early or are already enjoying retirement, this episode highlights practical tax strategies that could make a meaningful difference over the long term.

http://retirewithmartin.com/ ← Learn about working with us

www.planwellretirehappy.com

00:00 Introduction to today's topic

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties' informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

In this episode of the Retire Early podcast, financial advisors Sam Benson & Linwood Fraher of Martin Wealth Solutions discuss the warning signs that may indicate you are not quite ready to retire.

Retirement readiness involves more than reaching a certain age or account balance. Sam and Linwood explain why retirees also need a dependable income plan, a clear understanding of their expenses, a strategy for healthcare, and a plan for how they will spend their time after leaving work. They also address the risks of carrying too much debt, relying on unrealistic investment returns, or making a retirement decision before both spouses are on the same page.

The episode encourages listeners to identify potential gaps before submitting their retirement notice. With proper planning, many of these warning signs can be addressed, helping you approach retirement with greater clarity, confidence, and flexibility.

http://retirewithmartin.com/ ← Learn about working with us

www.planwellretirehappy.com

00:00 Introduction: Are you truly ready to retire?

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.