June 23, 2025

Retire Smart: The First-Year Retirement Checklist

25 minutes

In this episode, financial advisors and retirement planners Jim Martin & Casey Bibb of Martin Wealth Solutions reveal the five critical moves every new retiree should make in their first year. From building a retirement paycheck and spending plan to evaluating tax strategies and updating estate documents, Jim and Casey offer practical steps to help retirees transition with confidence and clarity. Plus, they share powerful client stories, emotional insights, and tips for creating purpose and joy in your new lifestyle. If you're newly retired—or getting close—this episode is your roadmap for year one.

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00:00 Welcome and Episode Intro

01:18 Replacing Your Paycheck with Purpose

03:10 How to Build a Tax-Efficient Retirement Paycheck

06:04 Planning for the Surviving Spouse

07:55 Creating a Spending Plan in Retirement

10:45 Understanding Fixed, Flexible, and Fun Expenses

13:18 Client Story: From One Cruise to Two

16:03 Avoiding Overspending in Year One

17:50 Evaluating Your Tax Strategy

21:22 The Power of Roth Conversions and RMD Planning

24:01 Estate and Healthcare Planning in Retirement

27:48 Why End-of-Life Planning Is a Gift

30:11 Retirement Isn’t Just Financial—It’s Emotional

33:17 Finding Purpose and Passion Post-Retirement

36:04 Client Story: From Boredom to Fulfillment

38:15 Listener Q&A: Social Security and Overspending

41:12 The Value of Flexibility and Having a Guide

43:00 Final Thoughts and C.S. Lewis Wisdom

44:02 Thanks for Listening and How to Connect

Disclaimer:

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.

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