How to Create Rhythm and Predictable Income in Retirement

Be one of a kind with Mike's Plan.

Welcome back to the One of a Kind Financial Show Daily with your host, Mike Milligan. It is Thursday, October 16th. You know, every day in retirement, uh, seems like Saturday according to our good friend Tom Hegner. But you know, if you don't have a plan in place, right, or a rhythm to life, Mapped out for what retirement is, every day is going to feel like that famous movie Groundhog Day, right? Where you wake up, you do the same thing, and it may not give satisfaction. And so, uh, recently on the One of a Kind Financial Show, Gary and I talked about how to create rhythm, how to reduce anxiety, how to provide direction, and more. Enjoy this segment from the One of a Kind Financial Show. And again, I look forward to helping you live a one of a kind life.

Thank you, Mike.

We all love to talk about dream trips, the grandkid visits, the golf course, but those are exceptions, not the rule. Retirement isn't one long vacation. It's made up of hundreds of ordinary Tuesdays. The Tuesday test asks, what does your normal day look like? Because you can make a regular day feel fulfilling, joyful, and secure. That's the real retirement success. Our first question, are you designing for thrills or for rhythm, Mike?

Well, retirement isn't just about the bucket list. It's about the daily joy. What does— so, our clients, right, who we just had almost 100 clients over at our office to celebrate like the relaunch of One Oak Financial from Ideas by Mike. And the interesting thing is that we have a rhythm with our clients. The rhythm of our clients are, We talk about tax planning in October. We do a tax projection with them in February. We do legacy reviews in July. But here's the thing about the weekly rhythm of our clients is we see that they find something to do, whether it's like a Tuesday morning Bible study or a walking club that they're going on on Wednesdays. Or going out and playing dominoes with a set of friends or some other card game. And so rhythms, especially when it's a social rhythm or some kind of meaningful routine, it's a whole lot better than staring at the wall. And that's one of the things that we talk about when we talk about retirement chi, having that vision for your retirement, is that the rhythm of your life has to continue. And you have to find a community where you are going to be happy, content, and challenged. But you're also going to have that sense of belonging.

You know, interesting, Mike, when I was working between jobs, radio jobs, I worked at the casino. And I was doing security. And I was up front checking people's IDs. And every Tuesday at a certain time around 9 o'clock in the morning, 3 elderly gentlemen, probably close to 80, would all come in. And that was their social thing for the day, for the week. They'd go to the casino, have a little fun, then grab some lunch. And I'd see them a couple hours later leaving, and they seemed happy and they seemed content and something they enjoyed doing together.

And I imagine they weren't there to try to prop up their retirement income.

Nope.

They were going in for the camaraderie and the community. And just the, you know, the, the money they were donating to the charity at the end of all that was just the price of that camaraderie in that community.

And they've—

and I'm sure they loved it. I'm sure they loved it.

Yeah, they did. It was their entertainment money that they did. All right. So how can your income support your lifestyle without anxiety? That's important.

Well, peace of mind comes from predictable income, right? Think about the biggest, the biggest anxiety or fear that you ever had in your life. We have many federal employees over the last couple of weeks who have, because the government has been shut down, have had like, they know they're going to have income coming back again in the future, or they hope that they're going to have income coming back into the future. But boy, they are stressed right now because there's a lapse in the every other week Friday paycheck coming into their bank account. See, that's the kind of anxiety that we help retirees relieve. Because if you don't have steady, predictable cash flow coming in during retirement, you are— you know, how do you know how to go buy groceries or when to go on a date night and do those guilt-free? And so, steady, predictable income that's guaranteed to last and ultimately is cost of living adjusted over that time is how you could support the rhythm in the lifestyle you want to live.

The show is the One of a Kind Financial Show. Mike Milligan is going to talk about the One of a Kind Financial Plan in just a couple of minutes. Let's get you on the calendar, all set up with that comprehensive plan. There's no cost, there's no obligation. 800-748-1838. 800-748-1838. Or text the word ideas to 600-700. The folks at One Oak Financial standing by, ready for your phone call this weekend. A couple of minutes left in this segment. Are couples aligned or drifting in different directions? That's interesting.

Well, yeah, because relationship changes— or I'm sorry, retirement changes relationship dynamics. One of the interesting things about retirement is when you hear people at retirement parties, Gary, they'll start saying, oh, it's going to give us a chance to spend more time together, something we've already wanted. And I hear that from people who've been married 50 years, 30 years, 20 years, 5 years. It doesn't Matter. But the interesting thing about working years is you wake up in the morning, maybe have a cup of coffee, maybe go on a walk, read a book, then you separate for 7, 8 hours a day and go work. Then you come back at the end of the day and you have dinner and talk about your day, maybe go on a walk, and then you go to bed and it's a routine. Retirement though, if one person in a relationship thinks that retirement's going to be about 10:00 AM deep thought or deep thinking, deep communication where it's basically a therapy session with each other and the other person doesn't want to do that, it creates a lot of challenges to people in retirement. So, when you go in retirement, you've got to create that rhythm. We talked about it earlier, but the rhythm of your working has to continue. What's made your relationship strong and healthy has to continue in retirement because a sudden shift in your relationship dynamics Good call, stress and retirees. We've talked many times about gray divorce on the radio show.

Oh, we have, yes.

About how those rates are going up and they continue to go up. And so, you have to be aligned and you have to build a vision together about what retirement's going to look like and what you're going to do together to make sure each other individually is moving forward so that relationship has continued strength and stability. Because the last thing you want to do is, is try to hit those dating sites when you're 70 years old. Yeah, I can only imagine.

Yeah, exactly. All right, we're up against the clock, Mike. Tell us about the one-of-a-kind financial plan that you do for our listeners.

Well, you know, Gary, this has been a segment really about creating a vision for retirement, how to create rhythm, how to have an income without anxiety, you know, how to stay aligned in your relationships. Because without vision, Right? Chaos is present. And so, we build in the One of a Kind Financial Plan a vision for retirement. That's called Retirement Chi. It helps you build a community, focus on your health, and an impact. And once that vision is built, yes, we can move to the financial, which is solving for the biggest expense you have in your life, which are taxes. We can then look to guarantee retirement income so that you don't feel adrift or have anxiety because you don't know When your next paycheck's coming. We can talk about the investment portfolio that's more aligned to where you are, right? So, the fees that are worthy and align your investments to the real retirement allocation, which is income you need, income you want, your legacy, and your long-term care, which then allows us to build into that a long-term care strategy and a legacy plan. Guys, the one-of-a-kind financial plan is, uh, is one of the top-selling books on Amazon right now for a reason. A lot of 5-star reviews because people know the movement that this is causing. So if you haven't gotten the One of a Kind Financial Plan book, you may want to go find it on Amazon. But if you want the one-of-a-kind financial plan driven by us, call us because we can help you build a one-of-a-kind financial plan for your one-of-a-kind life.

This is your chance to benefit from a personalized retirement income plan The one-of-a-kind financial plan that Mike was just talking about. Call right now. Limited number of availabilities on our calendar this week. And remember, the beauty of this whole thing is the consultation is offered at no cost or no obligation. 800-748-1838. 800-748-1838. Or text the word ideas to 600-700.

One last message from our compliance team. As a reminder, Mike Milligan, Certified Financial Planner, is an investment advisor representative of Advisory Alpha, LLC, an SEC-registered All opinions expressed by me, Mike, or any podcast guests are solely our opinions and do not reflect the opinions of Advisory Alpha. This recording is for informational purposes only, should not be relied on solely for investment, tax, or legal decisions, and it's in no way intended to communicate or guarantee specific performance or suitability of any security instrument or product as we may have discussed. Investment advisory and financial planning services offered through Advisory Alpha LLC, a registered investment advisor. Insurance products are provided by Ideas by Mike, a licensed agency located in Norfolk, Virginia. Virginia, and licensed to do business in all 50 states. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Please consult with your tax or legal professional prior to making decisions related to these issues. If you want us— an appointment with Ideas by Mike or One Oak Financial, please reach out via our website. This podcast is produced in conjunction with Mike Milligan, LLC.

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