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Best In Wealth Podcast

Best In Wealth Podcast

著者： Scott Wellens
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This is the best in Wealth podcast – A show for successful family stewards who want real answers about Retirement and investing so we can feel secure about our family’s future. Scott's mission is simple: to help other family stewards build and maintain their family fortress. A family steward is someone that feels family is the most important thing. You go to your job every day for your family. You watch over your family, you make sacrifices for your family, you protect your family. I work with family stewards because I am one; I have become an expert in the unique wealth challenges family stewards face. Scott Wellens is the founder of Fortress Planning Group - an independent, fee-only, registered investment advisory firm. Fortress Planning Group is dedicated to coaching clients toward a holistic view of wealth and family stewardship. Scott is a certified financial planner, a fiduciary and has been quoted in the industry’s leading websites including Forbes, Business Insider and Yahoo Finance. Scott is also a Dave Ramsey Smartvestor Pro in the greater Milwaukee and Madison areas.Copyright 2026 Scott Wellens 人間関係 個人ファイナンス 子育て 経済学
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  • Avoiding the 5 Biggest Retirement Pitfalls, Ep #271

    Avoiding the 5 Biggest Retirement Pitfalls, Ep #271
    2026/07/17
    Retirement is the beginning of a new chapter, full of opportunity, challenges, and critical decisions about your financial future. Protecting your retirement means understanding and proactively managing the most significant risks you will face. On the show this week, I explore the five biggest risks to a secure retirement and outline strategies to help you and your family prepare for the road ahead.Outliving Your MoneyMost people underestimate how long their retirement might last. According to Social Security actuarial data, a 65-year-old man has a 50% chance of reaching age 84; for women, it’s 87. For couples, there is an even chance at least one partner will live past 90, and a one-in-five chance one will reach 95. Planning for “average life expectancy” is not enough—by definition, half of retirees will outlive that average. Structure your retirement plan and savings to last up to 30 years.Market & Sequence of Returns RiskFuture investment returns are unknowable, especially as you near retirement. The sequence of those returns—the order in which market ups and downs occur—can determine whether you run out of money. A retiree who encounters a bear market early in retirement is far more vulnerable than someone hit with poor returns later on. I recommend you:De-Risk Your Portfolio Before Retirement: Gradually shift to safer assets in your final working years.Build a Cash Buffer: Maintaining three years of living expenses in cash or similarly stable assets lets you weather bear markets without selling investments at a loss.Stress Test Your Retirement Date: Can you still retire if the market drops 30% the year before retirement?Adopt a Flexible Withdrawal Plan: Use guardrails—predefined spending increases or cuts—to respond to market conditions.Health and Long-Term Care RiskHealthcare costs are one of the largest and least predictable components of retirement expenses. About 70% of people turning 65 will need some form of long-term care, which can cost upwards of $75,000–$130,000 per year, depending on the type of care. Critically, Medicare does not cover most long-term care needs. Evaluate whether you can self-insure or if you need to purchase long-term care insurance. Your decision window closes in your 50s and early 60s.Decision and Fraud RiskThe risk of making poor decisions—especially under stress—or falling victim to fraud is rising. Cognitive decline can begin well before it is noticeable, and with the rise of AI, scams are more convincing than ever. Put defensive measures in place, maybe add trusted contacts to your accounts, update power of attorney and beneficiaries, and set a family code word to combat scams involving cloned voices.Inflation RiskOver a 30-year retirement, even a modest inflation rate can erode your purchasing power by half. At 3% inflation, today's $60,000 lifestyle will require $120,000 in just 24 years. We all need to plan for rising costs, so periodically review and adjust your projections and spending patterns as prices change.Outline of This Episode[05:41] Optimizing Social Security Strategy[09:52] Managing Retirement Portfolio Risks[13:08] Planning for long-term care costs[14:47] Assessing long-term care options[19:20] Preparing family financial safeguards[21:50] Preparing for future challengesResources MentionedCost of Care Report | Carescout Connect With Scott WellensSchedule a discovery call with ScottSend a message to ScottVisit Fortress Planning GroupConnect with Scott on LinkedInFollow Scott on TwitterFortress Planning Group on FacebookSubscribe to Best In WealthAudio Production and Show Notes byPODCAST FAST TRACKhttps://www.podcastfasttrack.comPodcast Disclaimer:The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.*******************************************************************************************************
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    24 分
  • The Four Keys to a Truly Satisfying Retirement, Ep #272

    The Four Keys to a Truly Satisfying Retirement, Ep #272
    2026/08/14
    Most of us equate a satisfying retirement with achieving a specific savings goal. We dream of the day when the work alarm clock is silenced, the 401(k) is plump, and we can finally enjoy life on our terms. But recent research challenges this traditional thinking, revealing that while money matters, it’s far from the only factor—sometimes not even the most important one. Why Half of Retirees Aren’t Truly HappyOnly about half of retirees say their retirement is “very satisfying,” with most others falling into the “moderately satisfied” category and about 10% not satisfied at all. This leaves a pressing question—what separates those beaming with contentment from those just “okay” or unhappy after leaving the workforce?There is a tendency to assume money is the main culprit. Yet new research suggests a much smaller role for finances than is commonly believed, especially compared with other often-overlooked factors.Four Pillars of Retirement SatisfactionSavings:Your total nest egg, everything you’ve saved apart from your home.Lifetime Income:The predictable, recurring payments you’ll receive for life—think Social Security and pensions.Health:How you rate your physical condition.Social Connections:The strength and depth of your relationships, measured by how connected and supported you feel.I talk about how these four pillars interact, and—most importantly—how none alone can compensate for a shortfall in another. For instance, having vast savings won’t make up for a lack of social connections or poor health.The Surprising Power of Lifetime Income and Social ConnectionWhile retirees with over $1 million in savings and high lifetime income are the most satisfied (77%), those with far less in savings but significant guaranteed income (like Social Security) closely trail in happiness (73%). The reliability of a regular paycheck in retirement can be more psychologically satisfying than simply having a large pile of assets.But the single strongest predictor of retirement satisfaction, after controlling for all factors, was not money at all—it was social connection. Having a strong circle of friends was associated with higher satisfaction than having a seven-figure bank account.Positive social connections can even offset the effects of deteriorating health. Retirees with fair health but strong friendships are nearly as satisfied as those with excellent health but few friends.The Weakest Link: Why All Four Factors MatterThese factors stack rather than substitute. You can’t out-save your way out of loneliness, nor can vibrant health buy your way out of financial insecurity. Satisfaction is governed by your weakest link—so maximizing all four areas is key.So, how can you prepare for a truly satisfying retirement? Strengthen Social Ties: Identify work-based friendships at risk of fading after retirement, and make efforts to integrate them into your new routine. Join clubs or volunteer—even before you retire—to lay strong social foundations.Prioritize Health: Invest in your well-being through activities that blend exercise and social engagement (think pickleball or group classes).Maximize Lifetime Income: Consider strategies like delaying Social Security to increase your guaranteed monthly income.Develop a Holistic Plan:Don’t just focus on your “magic number.” Plan for your daily life—how you’ll spend your time and with whom—after the paychecks stop.Your “Retirement Number” Isn’t EnoughIn the end, financial security is essential, but it’s only half the equation. To enjoy the best years of your life, cultivate health and meaningful relationships, and find purpose beyond work. Start addressing your weakest pillar today, and you’ll build not just a wealthy retirement, but a happy one.Outline of This Episode[04:10] Understanding retirement satisfaction[07:41] Different types of retirement money[10:26] Explaining the Income Lab tool[14:45] Importance of health and connections[17:05] Balancing life priorities[20:31] Work as social infrastructure[23:41] Importance of holistic retirement planningResources MentionedHealth and Retirement StudyIncome LabWHO Commission on Social ConnectionOur Epidemic of Loneliness and Isolation: The U.S. Surgeon General’s Advisory on the Healing Effects of Social Connection and CommunityDavid Blanchett Connect With Scott WellensSchedule a discovery call with ScottSend a message to ScottVisit Fortress Planning GroupConnect with Scott on LinkedInFollow Scott on TwitterFortress Planning Group on FacebookSubscribe to Best In WealthAudio Production and Show notes byPODCAST FAST TRACKhttps://www.podcastfasttrack.comPodcast Disclaimer:The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. ...
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    26 分
  • Preparing Your Retirement Portfolio for a Grizzly Bear Market, Ep #270

    Preparing Your Retirement Portfolio for a Grizzly Bear Market, Ep #270
    2026/06/12
    Are you ready for the next grizzly bear?—not the animal, but a major market downturn. He discusses the history of market corrections, bear markets, and the rare but devastating grizzly bear markets, illustrating why it is crucial to evaluate your portfolio’s risk level during strong market conditions—not during times of crisis. Whether you are approaching retirement or still in your wealth-building years, this episode will prompt you to reconsider your risk tolerance, portfolio diversification, and readiness for inevitable market storms.Outline of This Episode[03:34] Importance of communicating about conflict before it arises [06:27] Discussing market downturns and returns[10:16] Understanding Market Corrections[11:31] S&P 500 correction frequency[16:51] Assessing portfolio risk levels[18:01] Understanding risk and portfolio deviations[24:03] Preparing for market downturns[25:11] Preparing for market downturnsThe Importance of Talking About Risk—Before the DownturnMuch like in relationships, it is best to address potential conflicts before they arise; investors address risk before markets turn volatile. Re-evaluating your comfort with risk and your portfolio's construction when things are calm puts you in the driver’s seat. Waiting until a downturn hits can leave you reactionary and vulnerable to poor decisions—like panic selling when it hurts the most.Understanding Corrections, Bear Markets, and Grizzly Bear MarketsI break market volatility into three categories:1. Corrections – The Baby BearA correction is a market drop of at least 10% from its recent high. While the news can make a big fuss about corrections, they are common and, historically, have historically recovered relatively quickly. The S&P 500 has seen 28 corrections since 1969—that is about one every two years. The best move during a correction is strategic rebalancing, not panic.2. Bear Markets – The BearBear markets are drops of 20% or more. Since 1969, they have happened eight times—about once every seven years. Bear markets are more serious than corrections and can be emotionally challenging, but they are still a normal part of the investing cycle. If you are lying awake at night during a bear market, it probably means your portfolio risk was not suited to your comfort level before the downturn.3. Grizzly Bear Markets – The Real ThreatA grizzly bear market is a severe drop of 30% or more, and these are rare but devastating. Since 1969, only three have occurred: during the oil and stagflation crisis of the ‘70s, the dot-com bubble in the early 2000s, and the 2008 financial crisis. These markets can take years to recover—some up to 91 months for a portfolio invested solely in the S&P 500.Diversification and RebalancingWhat separates those who weather grizzly bear markets from those who do not? Preparation and portfolio construction. A diversified 60% stocks/40% bonds portfolio has historically fared much better during grizzly bear markets—experiencing smaller drawdowns and much faster recovery times than a pure stock portfolio. By owning more than one asset class and maintaining an “airbag” of bonds and cash, retirees can draw on their safer reserves during downturns, giving stocks time to recover.The Questions Every Investor Should Be AskingIf you are living off your investments, in or near retirement, now is the time to ask:Is my plan set up for the next grizzly bear?Can I withstand a major downturn?Do I have the right mix of stocks, bonds, and cash?Has my advisor “back-tested” my plan against worst-case scenarios?Grizzly bear markets, though rare, are inevitable over a long investing life. The pain is real—but so are the solutions. Assess your risk now, diversify, prepare your cash and bond airbags, and ensure your plan has been rigorously tested for rough times. Addressing risk in your portfolio now leaves you sleeping soundly—no matter what the market throws your way.Connect With Scott WellensSchedule a discovery call with ScottSend a message to ScottVisit Fortress Planning GroupConnect with Scott on LinkedInFollow Scott on TwitterFortress Planning Group on FacebookSubscribe to Best In WealthAudio Production and Show Notes byPODCAST FAST TRACKhttps://www.podcastfasttrack.comPodcast Disclaimer:The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.
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    28 分
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