Optimized Advisor Podcast

Unlocking Retirement Success: The Fifth Option with Walter Young

Episode Summary

Scott was joined by Walter Young in the virtual studio for a discussion on retirement income strategies, focusing on Young's book "The Fifth Option," which explores innovative approaches to retirement planning that go beyond traditional methods, such as utilizing actuarial science and investments to create a predictable and efficient income stream.

Episode Notes

Walter C. Young ,MBA, RICP, is a dynamic financial expert, national speaker, Industry panelist and Amazon best-selling author of The 5Th Option. Walter helps his audiences learn about the challenges retirees face in a modern economic environment and post pension society. His blend of stories, humor and financial planning theory keeps audiences entertained while learning the very latest academic research in retirement income planning. He earns rave reviews and guests often stay long after his presentation has ended to continue conversations.

With over 20 years of experience in the financial services industry, Walter has become a thought leader in economic-based financial planning theory, helping clients develop strategies to achieve their retirement goals.

Walter holds the prestigious Retirement Income Certified Professional (RICP) designation from the American College of Financial Services and a Master's in Business from Seattle University and is a member of the exclusive Forum 400.

In this episode you will learn the following:

The "Fifth Option" in retirement planning, which challenges traditional financial planning strategies by integrating actuarial science and investments to recreate the stability once provided by pensions and Social Security.
The shortcomings of the traditional three-legged stool of retirement (pension, Social Security, and personal savings) and emphasizes the importance of creating a sustainable cash flow strategy, especially in the absence of pensions.
The "Beat the Bear" strategy, which involves using non-correlated assets like cash value life insurance to protect against market downturns, and the "Bucket Strategy," which segments assets into now, soon, and later buckets to manage risk and income flow over time.
The need for individuals to rethink retirement planning by focusing on creating predictable, risk-managed income streams using innovative financial products and strategies, aiming for a more efficient and confident retirement experience.

Connect with Scott on LinkedIn
Connect with Walter on LinkedIn

For more on The Optimized Advisor Podcast click here
For more on The 5th Option and to purchase the book click here