The majority of Americans are now retiring without traditional pensions, relying instead on their own savings, primarily 401(k)s, which were designed for saving, not for generating steady retirement income. This shift has left many retirees worried about making their money last. The episode discusses the transition from saving to spending in retirement, the effects of the "One Big Beautiful Bill" of July 2025—which locked in current tax rates but increased the importance of tax management—ongoing risks like inflation and market volatility, and offers a step-by-step guide to creating a personal pension plan. The goal is to help retirees turn their savings into reliable income for a secure retirement.
Bob & Tyler, a father-son duo, talk about all things retirement. For more information about New Horizon Wealth Management, go to NHWealth.biz.