Sweating the Small Stuff:
Lessons from an 85 Degree Seminar

Retirement is supposed to be the best part of your life. However, with market volatility and rising healthcare costs, many people feel more anxious than excited.

On this episode of Retire Well, Josh Bretl shares a story about a workshop where everything went wrong and explains how those same lessons apply to building a resilient retirement plan.

Finding Connection in the Heat

Josh recently hosted a Social Security workshop in Wheaton that tested his patience. Between a failing HVAC system that left the room at 85 degrees and a laptop that ran out of battery, the presentation was anything but polished.

Yet, when he stopped trying to fix the technology and simply sat down to talk with the people in the room, the experience became oddly satisfying.

He sat next to a woman who had lost her husband a year earlier and felt completely lost. In that five minute conversation, Josh realized that retirement planning is about more than numbers: it is about providing clarity and support during life’s most difficult transitions.

Even when things go wrong, a personal, authentic relationship can make all the difference.

The Retirement Confidence Gap

Recent surveys show that 39% of American workers report they do not feel confident in their retirement. This lack of confidence is often fueled by the noise of the market and the constant political fighting seen on the news.

Many retirees watch their investments grow but worry that the growth is not sustainable or real.

Josh notes that a primary reason for this uncertainty is a lack of a true, holistic plan. People worry because they do not understand how volatility impacts their specific situation.

Without a retirement focused strategy, even those with substantial savings can fear running out of money before they run out of life.

Social Security and the Tax Trap

There is significant concern that Social Security benefits could be cut by 24% as early as 2032. While Josh believes Congress will ultimately find a way to fund the system to avoid bankrupting an entire generation of voters, he expects the rules of the game will change.

The real threat is often the taxation of those benefits. Between Medicare surcharges (IRMAA) and taxes on 401k withdrawals, many retirees pay much more to Uncle Sam than they anticipated.

The Wellment Way focuses on income diversification, helping you structure your withdrawals so you can look poor on your tax return while remaining wealthy in your bank account.

Managing Your Must Haves and Nice to Haves

Retirement planning is fundamentally cash flow planning. At Wellment Financial, we help families break down their spending into two categories:

• Must Haves: These are the essential bills that come in every month, like housing, food, and basic healthcare. We aim to secure these expenses for 12 to 15 years using a conservative income bucket.
• Nice to Haves: This includes the trips, the new cars, and the fun experiences that make retirement meaningful. Once your essentials are secured, you have a permission slip to let your growth assets work for these goals.