The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

In this episode, we talk about one of the most overlooked retirement risks: the loss of purpose. Many people spend decades building a career, a routine, and a sense of meaning through work.

Then retirement arrives, and what looked like freedom starts to feel strangely empty. We cover why this happens, why financial security alone is not enough, and how to think about purpose, rhythm, contribution, and meaning in retirement. If you are asking questions like: What will I do after I retire? How do I find purpose in retirement?

Why do some retirees feel lost even when they have enough money? How do I prepare emotionally and practically for retirement? This episode will help. Subscribe for more conversations on retirement planning, retirement income, and building a life that works both financially and personally.

📅 Work with Eric

Want an honest, second opinion on the investments in your retirement portfolio? Eric offers complimentary consultations for those approaching or in retirement with $1M or more in savings.

Book Complimentary Consultations Here: https://calendly.com/meeterics/free-10-minute-intro-call

Email Here: [email protected]

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

📅 Work with Eric

Want an honest, second opinion on the investments in your retirement portfolio? Eric offers complimentary consultations for those approaching or in retirement with $1M or more in savings.

Book Complimentary Consultations Here: https://calendly.com/meeterics/free-10-minute-intro-call

Email Here: [email protected]

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

We're back with Part 2 of the CFP® Investment Rankings series. This time, Eric Schrum grades individual stock picking, diversified stock portfolios, Universal Life Insurance, alternative investments (hedge funds, private equity, VC), and gold — including a warning about the predatory gold companies specifically targeting retirees.

Missed Part 1? Watch it here: https://youtu.be/1--a3FNe9NQ — we covered Mutual Funds, ETFs, Variable Annuities, and Life Insurance.

As always, these are general rankings. Your situation is unique. But this gives you a smart framework for evaluating what you're being offered in retirement.

🔑 Key Takeaways

📅 Work with Eric

Want an honest, second opinion on the investments in your retirement portfolio? Eric offers complimentary consultations for those approaching or in retirement with $1M or more in savings.

Book Complimentary Consultations Here: https://calendly.com/meeterics/free-10-minute-intro-call

Email Here: [email protected]

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

Are the investments you're being pitched actually good for YOU — or good for the person selling them? CFP® Eric Schrum cuts through the noise and gives honest, no-nonsense grades on 5 investments retirees commonly encounter: Mutual Funds, Variable Annuities, ETFs, Whole Life Insurance, and Term Life Insurance.

This is Part 1 of an ongoing series. Every retiree's situation is unique, but this gives you a strong foundation for evaluating what you're being offered — and what to watch out

🔑 Key Takeaways

• Always check the fee share class on mutual funds — lower fees matter more than most people realize

• Variable annuities are often loaded with hidden fees, surrender penalties, and long lock-up periods — approach with caution

• ETFs offer low costs, tax efficiency, and broad options for both passive and active investors

• Mixing life insurance and investing (whole life) typically benefits the seller more than the buyer

• If you need life insurance, level-term is almost always the cleaner, more cost-effective choice

• Retirees should ask whether they still need life insurance at all — or if savings can serve as self-insurance

📅 Work with Eric

Want a personalized review of the investments in your retirement portfolio? Eric offers complimentary consultations for those approaching or in retirement with $1M or more in savings. Book Here: https://calendly.com/meeterics/free-10-minute-intro-call

Email Here: [email protected]

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

⚠️ Miss this IRS deadline and you could owe a 25% penalty on your own retirement money. In this video, CFP® Eric Schrum breaks down exactly what Required Minimum Distributions (RMDs) are, when they kick in, how much they could cost you if you ignore them — and the strategies you can use right now to take control before the IRS does.

Whether you're approaching retirement or already in it, this is one of the most important retirement planning concepts you need to understand.

🔑 Key Takeaways

📅 Work with Eric

If you have $1M or more in retirement savings and want to understand how RMDs will affect your specific situation, schedule a complimentary consultation: https://calendly.com/meeterics/free-10-minute-intro-call

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

Most retirees budget carefully for everything — except the Medicare bill that quietly adds $5,000 or more to their annual expenses. It's called IRMAA, and if you have a substantial retirement portfolio, there's a good chance it's coming for you.

In this episode, I break down exactly what IRMAA is, why it catches so many high-income retirees completely off guard, and — most importantly — four strategies you can use right now to reduce or eliminate it before you retire.

📅 Book a Free 30-Minute Retirement Readiness Call — For investors with $1M+ within 10 years of retirement → https://calendly.com/meeterics/free-10-minute-intro-call

In this video:

✅ What IRMAA actually is (and why nobody warns you about it)

✅ The 5 IRMAA surcharge tiers — real 2025 dollar amounts

✅ The two-year lookback rule that blindsides new retirees

✅ Why a single high-income year can cost you for years after

✅ How Roth conversions can dramatically reduce your IRMAA exposure

✅ The little-known appeal process if you've already been hit

✅ How to plan your retirement income around the IRMAA thresholds

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

Most people don't find out about Required Minimum Distributions until it's too late — and by then, they're already facing a tax bill they never planned for. In this video, I break down exactly what RMDs are, when you're required to start taking them, how to calculate yours, and the smart strategies retirees are using right now to minimize the tax hit.

If you have a 401(k), Traditional IRA, SEP-IRA, or 403(b) — this episode is for you.

📅 SCHEDULE A FREE INTRO CALL https://calendly.com/meeterics/free-10-minute-intro-call

📌 IN THIS EPISODE

✅ What a Required Minimum Distribution is — and why the IRS requires them

✅ The current RMD starting ages: 73 or 75 depending on your birth year

✅ How the SECURE Act and SECURE 2.0 changed the rules

✅ The step-by-step RMD calculation using the IRS Uniform Lifetime Table

✅ Why Roth IRAs don't have RMDs (and why that matters)

✅ The Qualified Charitable Distribution (QCD) strategy most retirees overlook

✅ Why taking two RMDs in one year can create a surprise tax spike

✅ What happens if you miss an RMD — the 25% penalty explained

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

Are you actually ready to retire, or are you just chasing a number that may not even fit your life?

One of the biggest mistakes people make when planning for retirement is fixating on an arbitrary portfolio goal like $1 million, $2 million, or more, without ever asking a better question: How much do I actually need to live the life I want in retirement?

In this video, I walk through a more practical way to think about retirement readiness by starting with your income needs, not a random investment target. Once you know how much income you’ll need each year, you can begin backing into what your portfolio actually needs to produce and whether you may already be closer to retirement than you think.

I also cover a few major retirement planning mistakes people often miss, including taxes, inflation, and expenses that may fall away later like a mortgage payment.

If you want more clarity around whether you have enough to retire, this video will help you think about it the right way.

If you want help turning your portfolio into a structured retirement paycheck: 👉 Apply here: https://calendly.com/meeterics/free-10-minute-intro-call

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

If you're between 30 and 50, you're sitting on one of the greatest wealth-building windows of your life — but only if you make the right moves. As a CFP professional with over 10 years in the wealth management industry, I'm breaking down the 5 things I'd focus on right now to build serious wealth in your 30s and 40s.

Whether you're just starting to get serious about money or already earning well but not sure where to go next — this episode is for you.

In this episode:

✅ Why budgets aren't just for beginners (and the shocking NFL stat that proves it)

✅ How to automate your savings so wealth-building happens on autopilot

✅ Why cutting your Starbucks habit won't make you rich — and what actually will

✅ The lifestyle inflation trap that keeps high earners broke

✅ The most common (and costly) investing mistakes to avoid at all costs

💡 The person who has $3 million is the same person who didn't spend $3 million.

If you want help turning your portfolio into a structured retirement paycheck: 👉 Apply here: https://calendly.com/meeterics/free-10-minute-intro-call

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.