Nearly half of retirees risk running out of money before they run out of retirement. In this episode, Dave Hall traces how retirement planning quietly became a "do-it-yourself" project — from the creation of Social Security in 1935, through the era of employer pensions, to the 1974 IRA and 1978 401(k) that shifted the responsibility for retirement income onto individuals. Dave explains why accumulating money for retirement is relatively simple, but spending it down safely is a different skill entirely, and walks through the four areas where self-directed retirees most often run into trouble: tax coordination and required minimum distributions, income and liquidity planning, healthcare and Medicare decisions, and legacy planning.

Whether you're managing your own 401(k) and IRA or just want to understand where retirement plans tend to break down, this episode covers the decisions that matter most once you shift from saving to spending.

In this episode:

• How Social Security, pensions, and the 401(k)/IRA shaped today's "do-it-yourself" retirement model
• Why nearly 46% of Americans are at risk of running out of money in retirement
• The difference between accumulating assets and living off them (and why it's a much harder problem)
• Tax coordination: required minimum distributions, Roth conversions, and why portfolios often outgrow tax brackets
• Income planning: liquidity, sequence of return risk, and why a 5-year liquid asset bucket matters
• Healthcare planning: Medicare Advantage vs. Medigap, and the real cost of long-term care
• Legacy planning: making sure your assets go where you want them to, not where probate sends them
• The "tunnel vision" mistake that causes otherwise careful retirees to miss bigger risks

Learn more:
Visit retirementriskadvisors.com for educational tools, webinars, Dave's books, and to schedule time to talk through your own retirement plan.

Investment advisory services offered through AlphaStar Capital Management LLC, an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC, nor does it indicate the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Retirement Risk Advisors, and AlphaStar Capital Management is not involved with the offer, recommendation, sale, or management of commission-based fixed insurance products. AlphaStar Capital Management and Retirement Risk Advisors are separate and independent entities. This content is for informational purposes only and is not intended as legal, tax, or investment advice or a recommendation of any particular security, investment product, or investment strategy.

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The 60/40 portfolio was the retirement gold standard for decades — so why is it failing so many retirees today? In this episode of the Retirement Risk Show, host Dave Hall breaks down where the 60/40 portfolio came from, why it worked so well for previous generations, and the 5 specific problems causing it to fall short for retirees now.

Dave traces the 60/40 portfolio back to Harry Markowitz's 1952 Modern Portfolio Theory, then walks through why bonds no longer provide the protection they once did, how sequence of returns risk can cost you 15+ years of retirement income, and why a single "one-size-fits-all" portfolio can't handle everything your money needs to do across a 20-40 year retirement. He also covers the bucket strategy approach to structuring retirement portfolios, how taxes quietly erode a 60/40 portfolio's returns, the real lesson behind Warren Buffett's wealth timeline, and a quick update on Trump accounts for kids and grandkids.

Whether you're actively planning for retirement, already retired, or just want to understand whether your current portfolio can support a multi-decade retirement, this episode breaks down what's changed and what to look at instead.

In this episode:

(1:14) The history of the 60/40 portfolio and Modern Portfolio Theory

(4:03) Problem #1 — Your portfolio has to do more jobs than it used to

(5:41) Problem #2 — Bonds aren't the hedge they used to be

(6:43) Problem #3 — Longevity risk and 20-40+ year retirements

(8:27) Problem #4 — Sequence of returns risk

(9:50) The bucket strategy — why one portfolio isn't enough

(11:07) Problem #5 — Taxes and portfolio inefficiency

(13:50) Portable retirement accounts and policy changes

(15:07) What Warren Buffett's wealth timeline really teaches us

(16:58) Trump accounts for kids and grandkids

(18:24) Risk tolerance vs. risk capacity

Want help applying this to your own retirement plan? Visit retirementriskadvisors.com for free tools, our blog, our email newsletter, on-demand webinars, and a no-fee consultation where we'll review your goals and help you figure out what your portfolio should actually look like.

New episodes of the Retirement Risk Show cover the risks, mistakes, and planning strategies that matter most as you approach and move through retirement — subscribe so you don't miss the next one.

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Investment advisory services offered through AlphaStar Capital Management, LLC, an SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC, nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Retirement Risk Advisors, and AlphaStar Capital Management is not involved in the offer, recommendation, sale, or management of commission-based fixed insurance products. AlphaStar Capital Management and Retirement Risk Advisors are separate and independent entities. This episode is for informational purposes only and is not intended as legal, tax, or investment advice, or a recommendation of any particular security, investment product, or investment strategy.

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How do the ultra-wealthy actually plan for retirement? In this episode, CPA and retirement risk advisor Dave Hall reveals 6 things the ultra-wealthy do differently in their retirement and wealth planning — and how you can apply the same strategies to protect your own retirement.

Drawing on years of experience as a CPA working directly with billionaires and high-net-worth individuals on tax planning, Dave breaks down the pattern he saw again and again: the ultra-wealthy aren't smarter or luckier with money — they're following a different system than most Americans ever get access to.

In this episode, you'll learn:

- Why the ultra-wealthy focus on outcomes, not just financial products
- How "family office" style coordination between advisors leads to better retirement outcomes
- Why they obsess over taxes — and why taxes may be the single largest expense of your retirement
- The difference between liquidity and safety, and why chasing one without the other can quietly cost you
- Why they think in generations instead of planning only for themselves
- Why they build a complete retirement system instead of just a portfolio

Whether you're already retired or getting ready for retirement, these six shifts can help you avoid the irreversible mistakes that quietly derail retirement plans in the second and third decades of retirement — long after most people think they're in the clear.

This episode is part of an ongoing series on navigating risk in retirement. To learn more or schedule a meeting with our team, visit https://retirementriskadvisors.com.

If you found this episode helpful, please follow the show and leave a rating or review — it's the best way to help other retirees and pre-retirees find this content.

Investment advisory services offered through AlphaStar Capital Management LLC, an SEC registered investment advisor. SEC registration does not constitute an endorsement of the firm by the SEC, nor does it indicate the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Retirement Risk Advisors, and AlphaStar Capital Management is not involved with the offer, recommendation, sale, or management of commission-based fixed insurance products. AlphaStar Capital Management and Retirement Risk Advisors are separate and independent entities. This episode is for informational purposes only and is not intended as legal, tax, or investment advice, or a recommendation of any particular security, investment product, or investment strategy.

Topics: retirement planning, retirement risk, ultra wealthy retirement strategies, family office planning, tax planning in retirement, generational wealth, legacy planning, retirement income

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