The Christian Retirement Show

The Christian Retirement Show

By Eric SchrumBusinessReligion & SpiritualityChristianityInvesting
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The Christian Retirement Show episodes

  • Average 401(k) Balance by Age: How Do You Compare?

    What’s the average 401(k) balance for people your age, and is that even the right number to compare yourself to? For ages 55–64, the average is $305,006, but the median is just $107,269. In this episode, Eric Schrum, CFP® Professional, walks through the 2026 numbers by age and by income, and explains why your balance matters less than what it can reliably pay you in retirement.

     

    In this episode: - Average vs. median 401(k) balance by age (2026 data) - Why the average is almost 3× the median for people near retirement - Why the 65+ numbers are misleading (the rollover effect) - How income changes the comparison more than age does - Turning a balance into a retirement paycheck

     

    📅 Wondering where you stand? Schedule a complimentary discovery call: https://calendly.com/meeterics/free-10-minute-intro-call?month=2026-05&date=2026-05-27

     

    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.

     

    #401k #RetirementPlanning #RetirementSavings

     

     

    12 min
  • 5 Reasons You’re Not Ready to Retire (Even If You Have the Money)

    Having enough money saved and being ready to retire are two different things. Here are 5 gaps that don’t show up on a balance sheet — but can derail retirement anyway.

     

    In this episode, I walk through five signs your retirement plan might have a gap your account balance doesn’t show — from having no real spending plan, to a misalignment with your spouse, to a risk almost nobody checks for before their first year of retirement: sequence-of-returns risk. If you’ve hit your number but still feel unsure, this episode is for you.

     

    Want a real readiness review — not just a number check? Schedule a complimentary conversation with our team: https://calendly.com/meeterics/free-10-minute-intro-call?month=2026-05&date=2026-05-27

     

    Questions? Reach us directly: [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.

    11 min
  • Is Your Social Security Check Above Average? (Social Security Checks Ranked)

    The “average” Social Security check is $2,085.98 — but averages hide a lot. Here’s the real percentile breakdown, from the 25th to the 90th, so you can see exactly where you stand.

    Most people compare their Social Security check to one number: the average. But that number blends every earner, every career length, and every claiming age into a single figure — and it’s not the same as “typical.”

     

    In this episode, I break down the actual distribution of Social Security checks using the SSA’s own percentile data: the 25th, 50th (median), 75th, and 90th percentile benefit amounts. You’ll see where the average really falls inside that range, the three things that determine your own position on the ladder, and how much a single claiming decision can shift you.

     

    📌 KEY TAKEAWAYS

    • The average Social Security check is $2,085.98/mo (SSA, July 2026) — but the median is closer to $1,990/mo.
    • The realistic range for most retirees runs from about $1,370/mo (25th percentile) to about $3,290/mo (90th percentile).
    • Three things move you along that range: years worked, lifetime earnings, and claiming age.
    • Claiming age is the one factor you control — it can shift a benefit by two full percentile rungs on its own.
    • The maximum possible benefit ($5,181/mo) is a ceiling almost no one reaches.

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      🔗 GET YOUR PERSONAL NUMBER

      Create a free account at ssa.gov to see your actual projected benefit at 62, full retirement age, and 70.

       

      📅 WANT A CLAIMING STRATEGY BUILT AROUND YOUR HOUSEHOLD?

      Book a complimentary discovery call with Schrum Private Wealth Management: https://calendly.com/meeterics/free-10-minute-intro-call?month=2026-05&date=2026-05-27

       

      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.

       

       

       

      11 min
    • How RMDs Can Secretly Raise Your Medicare Bill (IRMAA)

      You did everything right with your retirement savings — then your Medicare premium jumps. Here's the real reason RMDs and Medicare costs are connected, and what you can do about it.

      In this episode, I break down how Required Minimum Distributions (RMDs) can push your income high enough to trigger IRMAA — the Medicare surcharge most retirees have never heard of until it hits their premium. I cover the 2026 IRMAA thresholds, why it works as a cliff rather than a slope, and four strategies retirees actually use to plan around it: Roth conversions, Qualified Charitable Distributions, withdrawal sequencing, and Form SSA-44.

      Want to see how RMDs and IRMAA line up against your own numbers? Schedule a complimentary conversation with our team: https://calendly.com/meeterics/free-10-minute-intro-call?month=2026-08


      Questions? Reach us directly: [email protected]

       

      Video Deeper Dive into RMDs: https://www.youtube.com/watch?v=6cUsWwLT_ls&t=150s


      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.

      13 min
    • 5 Reasons to Take Social Security at 62 (Not 70)

      This decision depends on your health, your other income, your marriage, and what you actually want the next ten years to look like. Here are 5 real, math-supported reasons why filing at 62 might be the stronger move for you.

       

      In this video, I walk through five specific situations where claiming Social Security at 62 is a legitimate strategy — not a compromise, not a desperation move — including how it fits for married couples, what it means for your legacy, and the one profile where I'd tell you to do the opposite and delay as long as you can.

       

      Want to see this against your own numbers? Schedule a complimentary conversation with our team: https://calendly.com/meeterics/free-10-minute-intro-call?month=2026-08

       

      Questions? Reach us directly: [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.

       

      20 min
    • Average Retirement Income by Age — How Do You Compare

      Half of all retired households in America live on less than $56,680 a year. Here's the full breakdown by age, by percentile, and where the money actually comes from.

       

      Most retirement income articles quote the average — around $87,260 — and that number is technically true and practically useless. A small number of very high earners pull the average up and away from the reality most retirees live in. In this episode, I walk through the most recent federal data available, using medians instead of averages, so you can see where you actually stand.

       

      But I also want to make an argument: the benchmark is the wrong target. Comparing yourself to the median American retiree tells you almost nothing about whether your own plan works. I'll show you the three questions that matter more.

       

       

      WHAT YOU'LL LEARN

       

      • Why the median and the mean are $30,000 apart — and which one to trust
      • Median retirement income for ages 65–74 vs. 75 and older
      • The full percentile ladder, from the 10th to the 90th
      • Where retirement income actually comes from — Social Security, assets, pensions, and work
      • What retirees actually spend, and why a gap isn't automatically a crisis
      • The three questions worth more than any national benchmark

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        WORK WITH ME

         

        Schrum Private Wealth Management is a fee-only fiduciary firm. If you'd like to walk through your own numbers with someone, schedule a no-obligation conversation here: https://calendly.com/meeterics/free-10-minute-intro-call?month=2026-08

         

         

        RELATED EPISODES

         

        How Much Net Worth Makes You Rich in Retirement → https://www.youtube.com/watch?v=MK96wBvLQlY&t=3s

         

        Why RMDs Don't Matter as Much as You Think → https://www.youtube.com/watch?v=NCS0s0UwBoA

         

         

        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.

        14 min
      • Why RMD’s Don’t Matter for YOU (Probably)
        Everyone's terrified of Required Minimum Distributions — but for most retirees, the fear is way overblown. In this video, I break down real RMD numbers on $2M and $5M portfolios, show you the actual tax impact using 2026 brackets, and reveal the one RMD mistake that actually costs people money.

         

        In this video:
        • What RMDs actually are (and why the government requires them starting at 73)
        • Real RMD dollar amounts and withdrawal rates on a $2M portfolio at ages 73, 77, and 85
        • The same breakdown for a $5M portfolio
        • Why your marginal tax bracket matters more than the total RMD dollar amount
        • How the standard deduction and 2026 tax law changes affect what you actually pay
        • The one RMD risk that's actually worth worrying about — and the penalty for missing it

          •  

          If you're within 10 years of retirement or already retired with $1M+ saved, we help clients build a withdrawal plan that satisfies RMDs automatically — no guesswork, no missed deadlines. Schedule a complimentary discovery call: 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.

          13 min
        • The Hidden Retirement Risk No One Sees Coming (And 5 Ways to Fix it)

          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.

          11 min
        • How Much Net Worth Makes You Rich in Retirement?
          How much net worth do you actually need to be considered middle class, upper-middle class, affluent, or rich in retirement?
           
           
          In this video, Eric Schrum, CFP® professional and owner of Schrum Private Wealth Management, breaks down the net worth ranges for Americans age 65 and older, including the median retiree net worth, the top 10 percent, and the top 1 percent.
           
           
          More importantly, Eric explains why your net worth percentile may have very little to do with whether your retirement is actually secure.
           
           
          You will learn:
          • The net worth of the bottom 25 percent of retirement-age Americans
          • The median net worth for Americans age 65 and older
          • What it takes to be considered upper-middle class in retirement
          • The net worth required to enter the top 10 percent
          • The approximate threshold for the top 1 percent
          • Why home equity can make net worth figures misleading
          • Why spending, income, taxes, and lifestyle matter more than comparison
          • The questions retirees should be asking instead of, “Am I rich enough?”
            •  
            A retiree with a larger net worth is not always in a stronger financial position. Retirement security depends on how much income you receive, how much you spend, where your assets are held, how much debt you carry, and whether your financial plan can support the life you want to live.
             
            At Schrum Private Wealth Management, we help pre-retirees and retirees manage their investments, retirement income, spending, and tax strategy so they can live the lifestyle they feel called to live without constantly worrying about running out of money.
             
             

            📅 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.

            14 min
          • CFP® Professional Ranks 5 More Investments for Retirees — Part 2 (Stocks, Gold & More)

            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

            • Individual stock picking is closer to a coin flip than a skill — most investors learn this the hard way
            • A strategically diversified portfolio of individual stocks is a different story — but requires real expertise to execute well
            • Universal Life Insurance has the same core problem as Whole Life: mixing insurance and investing rarely benefits the buyer
            • Alternative investments can be excellent for non-correlated exposure and strong returns — but you must be an accredited investor and vet the fund carefully
            • Gold can serve as a legitimate hedge — but predatory gold companies specifically target retirees using fear tactics to get into your IRA and 401(k)
            • Know what you're buying, what a reasonable allocation looks like, and who is selling it to you before committing

              •  

              📅 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.

              7 min

            About The Christian Retirement Show

            From the publisher's feed

            On the Christian Retirement Show, CFP® professional Eric Schrum talks about all things regarding Retirement Planning, Investing, and stewardship.