In this March 2026 episode of the One of a Kind Financial Show Daily, host Mike Milligan debunks six common retirement‑investing myths that many Americans still believe. He explains that relying solely on 401(k)s or IRAs is incomplete without tax diversification across taxable, tax‑deferred, and tax‑free accounts, and clarifies 2026 contribution limits and required minimum distribution ages. Milligan stresses that retirement is not an end‑of‑work phase but a multi‑decade period where many people continue part‑time work, consulting, or entrepreneurship, requiring a shift from accumulation to distribution, inflation protection, and risk management. He warns against the “invest once the money is left over” mindset, urging automatic, escalating contributions as income grows. He critiques the myth that timing the market improves outcomes, emphasizing that time‑in‑the‑market beats timing. Milligan differentiates fiduciary financial advisors from those who operate under a suitability standard, urging listeners to verify their advisor’s duty to act in the client’s best interest. Finally, he outlines a comprehensive retirement plan that includes tax diversification, an income strategy, long‑term‑care coverage, and a legacy component, arguing that saving alone is insufficient. Throughout, he intersperses promotional calls‑to‑action for the One of a Kind Financial Plan, provides contact numbers, and ends with a disclaimer that the content is educational and not personalized advice.
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It's Tuesday, and this is the One of a Kind Financial Show Daily with your host, Mike Milligan. Investing for retirement isn't complicated because it's hard. It's complicated because there's so much bad advice floating around. Your coworker, your brother-in-law, and that guy on social media with the rented Lamborghini— probably not Real fiduciaries. Today on the Financial One of a Kind Financial Show Daily, we're going to clear up some of the biggest retirement investing misunderstandings of 2026. We did that on the One of a Kind Financial Show on the radio this past weekend, and I wanted to bring this segment from that show to you today. Enjoy your Tuesday. You are one of a kind.
Okay, so every day in America, roughly 11,000 people turn 65, and that pace will continue through the end of the decade, according to U.S. Census projections, we're still riding the peak 65 wave. Yet despite decades to prepare, many retirees admit they feel unprepared, not necessarily because they didn't save, but because they misunderstood how retirement investing actually works. We're gonna clear up a few myths here, Mike. Here's the first one. All my savings should be in my 401 or my IRA. What do you think?
That's not wrong, it's just incomplete. Uh, in 2026, contribution limits are $23,000 for if you're under 50, $30,000 $25,500 if you're 50 or older, and there's higher catch-up provisions if you're over 60, 63. And by the way, I may have just given you 2025 numbers there. I think they've actually gone up a little bit in 2026. Tax-deferred accounts are powerful though, guys. Um, but just remember, tax-deferred is not tax-free.
Nope.
Every dollar withdrawn later is taxable income, and required minimum distributions begin at age 73 or 75, depending on when you were born. And most people don't need more income at that point in their life. Smart retirement planning today is about tax diversification, having money in taxable, tax-deferred, and tax-advantaged buckets. If all of your money is locked up in a qualified plan, you may have built a retirement account, but not necessarily a retirement strategy.
Absolutely. Retirement means I'm done. That's the next statement we want to make. What do you think? I don't think so.
Yeah, you used to get, used to get a gold watch for being at the same employer, got a pension check and got a rocking chair and you just sat there.
Yeah, there you go. You went out the door.
That's right. And, uh, you know, you, you and your wife would go to an early bird special at 3:30 at the, at the Golden Corral.
Nothing wrong with that.
I mean, you get the buffet for $3.99.
Exactly.
Well, now, now retirement is often a 25 or 30-year chapter or multiple chapters of your complete book of life. Labor force participation for Americans 65 to 74 remains Far higher than it was 20 years ago. There's many people listening here today that are in that age range, 65 to 74, who are still working. Maybe not full-time, but they are working part-time. Many retirees consult, start businesses, serve on boards, or even work part-time for that income, not because they have to, because they want purpose. And here's the reality: a healthy 65-year-old couple today has a strong chance of one spouse living into their 90s. Retirement isn't the end of investing; it's the shift from accumulation to distribution or the return on investment to the return of your investment. And portfolios still need growth, inflation protection, and risk management.
Yes, indeed. How about this one? I'll just invest once whatever's left over. Yikes.
Whoa. That's, uh, that's how retirement savings become accidental and not intentional. Savings should increase as your income increases. If income doubled over the past decade, uh, but your retirement contributions didn't, Your future lifestyle math may not add up. It just may not work. Automation makes this easy in 2026. Annual contribution increases, catch-up provisions, even scheduled adjustments to increases. Remember, folks, you have to pay yourself first. Your future self will be grateful that you did.
Yes, absolutely. This show is the one-of-a-kind financial show. We want you to get that one-of-a-kind financial plan that Mike talks about. Starts by picking up the phone and dialing this number. Mike's gonna be on the phone this weekend himself. 800-748-1838. 800-748-1838. Or text the word ideas to 600-700. 800-748-1838. Or text the word ideas to 600-700. I'll start investing later. Later, later never comes.
Well, if you have— if, uh, we all know that if you have a problem and you delay the problems, the problems only get bigger.
Yep.
People delay for every reason imaginable. I don't make enough money yet. I'll start after the kids are out of the house. I'll start when the market goes down in value. See, the market really never settles down. There's always volatility. There's always ups and downs. There will always be elections or conflicts or rate hikes or recessions or headlines or kids that come back home when you know they shouldn't.
Yes.
The biggest investing advantage isn't time, timing, it's time in the market. Waiting doesn't make investing safer, it just makes catching up harder.
All right, here's one that I know is not true. All financial advisors are the same. Definitely not true, Mike.
I want to ask everybody here who has a financial advisor, if you're listening to me right now, what is your financial advisor doing this weekend? They're playing golf. They're out doing things. I'm here with you educating you on the weekend. I'm here every weekend. I show up, I give you advice that matters. See, all financial advisors are not different because Monday through Friday I meet with my clients just like your financial advisor does. But then I come on the weekend and I educate you. See, some, but there's even more differences in financial advisors though, because some operate under a fiduciary standard. which is legally required to act in your best interest, others opt in a suitability standard, meaning the recommendation simply must be appropriate. In a world of evolving tax laws, SECURE Act updates, changing Social Security projections, and estate planning shifts, clarity matters. So ask your financial advisor this question directly. Are you acting as a fiduciary at all times when managing my assets? I'm going to answer that question for you right now. Mike Milligan and the team at One Oak Financial, We answer yes to that every time. Clear expectations prevent costly misunderstandings, and we're on your side as a fiduciary firm to be able to help you build a one-of-a-kind financial plan.
All right, we got a minute or so left. Saving is the plan.
Saving is just a tool. It's a phase of the whole plan. Distribution is phase 2. You, you can spend decades accumulating wealth and undo it with 5 poorly timed withdrawal years. Sequence of return risk, tax bracket creep, Medicare IRMAA surcharges, Social Security tax. These are real retirement realities in 2026. A retirement plan without a distribution strategy is like climbing Mount Everest and forgetting you have to come back downhill.
Exactly. All right, up against the clock, Mike. Tell us again about the one-of-a-kind financial plan.
Well, guys, retirement investing in 2026 isn't about chasing trends or listening to the loudest voice in the room. It's about building a plan based on diversifying taxes, a retirement income strategy that keeps pace with inflation, investments that is aligned with the risk that you want to accept now, a long-term care plan, and a legacy plan that says, I love you to the next generation. See, retirement isn't a savings contest, folks. Your financial planner who only does investments is not a financial planner. They're an investment manager. You need an income plan. You need a tax plan. You need a long-term care plan, and you need a legacy plan. And when you do that, the puzzle pieces will line up perfectly. And, uh, in our plan, the One of a Kind Financial Plan, the puzzle pieces allow you to live a one-of-a-kind life.
This is your chance to benefit from the One of a Kind Financial Plan. Call right now. We have a limited number of availabilities on our calendar this week. And remember, The consultation is offered at no cost and no obligation. Here's that phone number: 800-748-1838. One more time on the number: 800-748-1838. Or text the word IDEAS to 600-700.
This is Mike Milligan. That has been the One of a Kind Financial Show Daily for today. I appreciate the continued listenership that you, you bestow on us by coming back daily to hear retirement investing, legacy, emotional psychology tips, psychological tips when it comes to your money. If this brings value to you, I'd love for you to comment what value that brings. I'd also love for you to check out the other media that we put together, the Ideas by Mike podcast, where just this week we launched an episode with Deidre Van Nest. Our recent guests have been Casey Shoen on tax strategy, Uh, Jill Schulman on the science of being brave, and Adam Dale, how fee-based financial planning works in this, the next leg, the next quarter century from 2026 to 2050. Um, and just as a reminder, Ideas by Mike, doing business as One Oak Financial, is an unaffiliated entity of Advisory Alpha LLC, where I am an investment advisor. Representative. All opinions expressed by me and Gary on the One of a Kind Financial Show and on this daily podcast, the One of a Kind Financial Show Daily, are just those. They're my opinions. This is for educational purposes only. Please do not use this to make education or to make financial or investment decisions on your own without consulting a financial professional. Thanks again for listening, and we will talk to you soon.
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