In this episode of the One of a Kind Financial Show Daily, host Gary Nolan interviews financial planner Mike Milligan about why disciplined savers often feel uneasy about retirement despite having saved diligently. Milligan explains that the retirement landscape has become more complex, shifting the focus from accumulation to distribution. He highlights five hidden risks that can make a seemingly "safe" retirement feel fragile: longevity (people living 25‑30 years post‑retirement), inflation (gradual erosion of purchasing power), tax uncertainty (future rates, tax‑deferred balances, and required minimum distributions), market volatility (impact on withdrawal strategies), and liquidity/mortality considerations. Milligan outlines strategic tools to mitigate these risks, such as income smoothing, Roth conversions, careful sequencing of income sources, and using forecasting software for RMDs. He emphasizes the need for a customized, "one‑of‑a‑kind" financial plan that translates account balances into reliable income streams, reduces anxiety, and prepares clients for various economic scenarios. Throughout the conversation, the hosts repeatedly invite listeners to schedule a free, no‑obligation strategy session with One Oak Financial, providing phone and text contact information. The episode concludes with a disclaimer that the content is educational and not investment advice.
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Be one of a kind with Mike's plan.
It's the One of a Kind Financial Show Daily with your host, Mike Milligan. Uh, this past weekend on the One of a Kind Financial Show, Gary and I had a great conversation. See, you worked hard, you saved, you followed the rules, so why does retirement still feel uncertain? We unpack the hidden risk most savers never plan for. And address those in a segment of the show. So for the next 7 minutes, sit back, get your coffee, and enjoy that conversation of how to uncover the hidden risks that retirees face today in 2026 and how you can address that. We'll talk to you soon.
Today we're talking about something I hear more and more often. It sounds like this: I did everything right, so why does retirement still feel uncertain? Maybe that's you. You built a stable career, you contributed to your 401 or at TSP. You stayed disciplined during market downturns. You avoided major financial mistakes. You followed the rules. And yet inflation is rising. Markets move unpredictably. Tax laws feel uncertain and retirement feels, well, fragile. To help you unpack this, I'm joined by Mike Milligan. Mike is back with us. Of course, he's the founder of One Oak Financial and author of The One of a Kind Financial Plan. Mike, let's start here. Why are so many responsible, disciplined savers still feeling uneasy?
Gary, first, I think it's important to say this clearly. If you've worked hard and saved consistently, you did not fail. What happened is not a personal, personal shortcoming. It's a shift in complexity. The retirement landscape today is dramatically different than it was a generation ago. People are living longer, healthcare costs are rising, tax policy is uncertain, and markets react faster to to global events than ever before. So even if someone accumulated a healthy nest egg, they may not have a coordinated strategy to manage these evolving risks.
So it's not about how much someone saved, it's about how much they prepared for and what comes next, right, Mike?
Exactly. Accumulation is one phase of life. Distribution or deaccumulation is another. Most people were taught how to save. Far fewer were taught how to strategically withdraw, manage taxes annually, and adjust income in response to market conditions. They often— this is often where uncertainty creeps in.
So let's take a moment. Let's talk about longevity. Seems like a blessing, but it's also, it's a planning challenge with people living a lot longer, Mike.
Yeah, it absolutely is. Because if someone retires at 62 or 65 years old, there's a very real possibility guarantee that their retirement can last 25 or even 30 years. According to data from the Social Security Administration, a 65-year-old today has a meaningful probability of living into their 80s or beyond. That means retirement may last nearly as long as someone's working career. When income has to stretch across the length of time, small miscalculations can compound. That's why sustainable income modeling matters.
And then inflation gets layered on top of that, Mike. We can't forget about inflation.
Oh my gosh. We've experienced this tremendously. We feel this almost every day, every time we go to the grocery store. But inflation over a long period of time is subtle. It doesn't usually feel dramatic year to year. But over time, it can significantly erode purchasing power. If someone needs $75,000 or $80,000 per year today, that That number may need to grow meaningfully over a 20 or 30-year retirement, depending on inflation trends. We can't predict inflation, but we can stress test plans under different assumptions.
The show is the One of a Kind Financial Show with Mike Milligan. I'm Gary Nolan, your host. Let's get you on the calendar, all set up with that comprehensive plan. There's no cost, there's no obligation. The folks at One Oak Financial and Mike himself standing by this weekend. Ready to get that phone call from you. 800-748-1838. 800-748-1838. Or text the word ideas to 600-700. You deserve a more confident plan to retire. Want to be stress-free, peace of mind, sleep well at night? However you want to say it, the fact of the matter is Mike and the team cannot help you unless you pick up the phone and dial that number. One more time on the number before we get back to the show. 800-748-1838. Or text the word ideas to 600-700. What about taxes? That's another area that seems to create a lot of anxiety, Mike.
Well, taxes are a major unknown. Well, see, we've been told for the bulk of our life, our tax rate will go down in retirement. But many retirees have the bulk of their savings in tax-deferred accounts like traditional 401s, traditional IRAs, or the Thrift Savings Plan. Those accounts defer taxes. They don't eliminate them. Future tax rates are subject to legislative change. And with our current economic environment and our fiscal policy in the United States, Many expect taxes will go up in the future. See, it doesn't necessarily mean, or there's no guarantee of these rate increases, but man, that certainty exists because of how we're spending money. And then there's required minimum distributions that come later in life, and that increases taxable income unexpectedly because most people don't plan for those RMDs. Strategic planning means asking, What, when does it make sense to withdraw or possibly Roth convert? How do we manage bracket exposure? And how do we sequence income sources thoughtfully?
You can help with RMDs, don't you? You do that all the time, helping them figure that out, don't you, Mike?
Yeah, we, we, we have, we have tools, we have spreadsheets and planning software that actually will forecast based off growth rates on what RMDs will be. And then we like to practice something called income smoothing, Gary. Income smoothing tries to keep your tax bracket the same. throughout your whole life, even into your death, and, and for your beneficiaries.
So if someone's listening, they're thinking, I've got a decent balance, but I don't know how it translates into income. What's that, the core issue there?
Well, see, that's often the heart of it, is a retirement account balance is not the same as a retirement income strategy. Confidence doesn't come from a number on a statement. It comes from understanding Where income will come from first. How much flexibility do I have? How taxes will be managed. What happens if the stock market goes down? And how to adjust if circumstances change. When those questions are answered thoughtfully, uncertainty decreases.
So in other words, people did everything right. They just haven't shifted from savings mode to the strategy mode. Am I right, Mike?
That's correct. And that's part of like what having a conversation with me and the team at One Oak Financial is about. The initial meeting that we have together is a strategy session. It's where we ask you, why is money important to you? It's where we try to build the vision and the job description for retirement. And then we start trying to eliminate risk in your life. Those risks are inflation, market, tax, liquidity, longevity, and mortality. Those are just a big— a bunch of big words.
Yeah.
That really mean we help reduce fear and anxiety and take the stress out of retirement. We do that by building the one-of-a-kind financial plan, something that will— we build that plan almost like a builder will build a house to withstand a hurricane, or an engineer will design a bridge to take collision, right? So it doesn't fall and put people at risk. That plan is your safety net. It's your written simplistic version We take the complex and make it simple. It's your simplistic plan that you'll literally leave our office with that will help you execute, will help you monitor it, and then will help you through the rest of your life, ensuring that these risks are mitigated. See, we built these one-of-a-kind financial plans to weather all storms. And at the end of it, we do that so you can go live a one-of-a-kind life.
Folks, advice like this shows you how important it is to meet with a financial coach, to meet with Mike and the team. They understand the ins and outs of the financial world. Take advantage of this opportunity right now. There's no cost, there's no obligation. Here's that phone number: 800-748-1838. 800-748-1838. Or text the word ideas to 600-700. Mike and the team at One Oak Financial standing by this weekend, ready for your phone call. One more time and the number before we take our next break: 800-748-1838. Or text the word ideas.
800-748-1838.
Here's the 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, Jill Schulman on the science of being brave, and Adam Dale, how fee-based financial planning works. this the next leg, the next quarter century from 2026 to 2050. 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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