The Retirement Risk No One Warns You About

Christine Mathieu, B. Msc. Christine Mathieu on February 9, 2026

I recently read a Wall Street Journal article titled, “The Retirement Crisis No One Warns You About: Mattering.” As someone who works closely with individuals navigating the transition into retirement, the message felt deeply familiar.

Not because of market uncertainty or longevity planning, but because of something far more human: Mattering.

Retirement is often framed as a financial milestone. But in reality, it is one of the most significant identity shifts a person will ever experience. While many people plan carefully for their wealth and health, far fewer prepare for what the article describes as their “mattering span,” or the need to continue feeling valued, useful, and connected in daily life.

Why Retirement Can Feel Unsettling Even When the Numbers Say You Can

Many retirees are surprised by how disorienting retirement feels. Even those who retire “on plan” often describe an unexpected loss of structure, relevance, or purpose.

In my conversations with clients, I frequently hear:

  • “I thought I’d feel more at peace.”
  • “I didn’t realize how much my work grounded me.”
  • “I’m financially fine, but something feels missing.”

This isn’t a personal shortcoming. It’s a natural response to the sudden removal of roles that once provided meaning, purpose, and connection. Work quietly answers questions like, “Who needs me?” Or “Where do I belong?”

As the end of that chapter approaches, those questions don’t disappear. They often get louder.

What it Means to Matter

The WSJ article outlines four components of mattering: feeling significant, appreciated, invested in, and depended on. What stands out is that none of these is guaranteed by financial independence alone.

You can have ample resources and still feel invisible.
You can have freedom and still feel unneeded.

The retirees who thrive are rarely the busiest. They are the ones who find ways to carry a thread of their former identity into their next chapter, not by recreating their careers, but by re-expressing their strengths in new ways.

Why Lifestyle Planning Means Just as Much as Financial Planning

Research cited in the article shows that lifestyle planning is a stronger predictor of retirement satisfaction than financial preparation alone. That finding aligns closely with what I see in practice.

The most fulfilling retirements are shaped by intentional conversations before work ends. We have conversations about meaning, contribution, relationships, and identity.

Questions like:

  • What parts of your work give you energy?
  • Where do you feel most useful?
  • Who depends on you today, and how might that evolve?
  • What would make your days feel purposeful, not just full?

These questions deserve a seat at the retirement planning table.

Redefining Success in Retirement

The article invites a powerful shift from “How long will I live?” to “How will I continue to matter while I do?“

When retirement is viewed as a transition vs an ending, it becomes an opportunity to intentionally reallocate time, talent, and attention toward what truly matters.

Financial security creates the freedom to ask these questions.
Clarity and purpose are what turn that freedom into a fulfilling life.

As a wealth coach, my role is to help people navigate this human side of retirement so that the next chapter isn’t just financially sound, but deeply lived. If you’re approaching retirement and want to talk, click the button below.

Book a Discovery Call

Christine Mathieu

As Western New York’s only Certified Money Coach (CMC®), Christine partners with our financial advisors to bring clients the best of both worlds: the technical expertise of financial planning and the transformational insight of wealth coaching. She helps individuals uncover limiting beliefs, align financial choices with what matters most, and move toward clarity. Connect with her on LinkedIn or schedule an introductory call.

Retirement Plan Best Practices Webinar

Heather Ryan on January 28, 2026

Hand holding phone

Beginning this year, higher-earning participants may be required to make catch-up contributions on a Roth (after-tax) basis. Roth catch-up contributions are taxed now but grow tax-free, giving participants a different way to plan their retirement tax strategy.

Join Angela Hall, CFP® from Note Advisors, for an educational webinar to talk about these 2026 catch-up contribution changes. This webinar is designed for business owners, HR professionals, plan sponsors, and individuals who want a clearer understanding of how these changes may affect retirement planning and plan administration.

What We’ll Cover:

  • What catch-up contributions are and what’s changing in 2026
  • New Roth catch-up contribution requirements for higher earners
  • Expanded “super” catch-up contributions for individuals ages 60–63
  • What plan sponsors should be thinking about now
  • Common questions and practical next steps

RESERVE YOUR SPOT

Catch-up Contribution Changes

Angela Hall, MBA, CFP Angela Hall on January 26, 2026

What You Need to Know

Saving for retirement is getting a boost in 2026, especially for older workers. New IRS rules are expanding catch-up contribution opportunities while also introducing important changes around Roth catch-up contributions.

Whether you’re a plan sponsor or a participant, understanding these updates can help you make smarter retirement planning decisions and avoid surprises.

What Are Catch-Up Contributions?

Catch-up contributions allow participants age 50 and older to contribute more to employer-sponsored retirement plans—such as a 401(k), 403(b), or 457(b)—beyond the standard annual limit.

These contributions are designed to help individuals who:

  • Started saving later in their careers
  • Took time away from the workforce
  • Want to accelerate retirement savings as retirement approaches

For 2026, catch-up contribution limits have been adjusted for inflation and expanded for certain age groups.

Roth Catch-Up Contributions: A Major Change in 2026

One of the most impactful updates affects how catch-up contributions are taxed for higher earners.

Beginning January 1, 2026:

  • Participants with prior-year FICA wages from the same employer above the IRS threshold (approximately $150,000 for 2026) must make catch-up contributions as Roth (after-tax) contributions
  • Participants earning below the threshold may continue to choose between pre-tax or Roth catch-up contributions, depending on their plan’s provisions

Why Roth Catch-Up Contributions Matter

Roth contributions are taxed today but grow tax-free, and qualified withdrawals in retirement are also tax-free. While Roth contributions may reduce current take-home pay, they can provide meaningful tax flexibility in retirement, especially for participants who expect higher future tax rates.

Super Catch-Up Contributions for Ages 60–63

For workers nearing retirement, the IRS has introduced an enhanced saving opportunity known as the “super” catch-up contribution.

In 2026:

  • Participants aged 60, 61, 62, or 63 may contribute up to $11,250 in catch-up contributions
  • This is higher than the standard catch-up limit of $8,000 for participants age 50 and older

These expanded limits are designed to help late-career employees take advantage of peak earning years and close potential retirement savings gaps.

What These Catch-Up Contribution Changes Mean for Employers

The 2026 catch-up contribution rules affect more than just participants. They also create new administrative considerations for plan sponsors.

Employers should:

  • Review plan documents to confirm whether Roth and super catch-up contributions are permitted
  • Coordinate with payroll providers and recordkeepers to ensure systems can apply Roth requirements correctly
  • Communicate these changes clearly so participants understand their options and potential tax impact

Final Thoughts on Catch-Up Contributions in 2026

Catch-up contributions have long been a powerful retirement planning tool, and the 2026 updates make them even more impactful, especially for workers approaching retirement. At the same time, new Roth requirements add complexity, making education and planning more important than ever.

If you have questions about how catch-up contribution changes affect your retirement plan or personal savings strategy, let’s connect.

Schedule a Call

Angela M. Hall, Ph.D., CFP® is Note’s Senior Financial Advisor and head of the Retirement Planning division at Note Advisors. Angela works closely with business owners who need retirement plan options for their employees. As a Certified Financial Planner®, her mission is to guide you in achieving your most ambitious life and business vision by developing and maintaining custom wealth and retirement plan strategies. Connect with her on LinkedIn

How Your Mindset Affects Financial Decisions in Retirement

Shawn Glogowski, CFP®, EA Shawn Glogowski on January 14, 2026

retired couple

How fear and habits can hold retirees back, and how a financial planner can help you spend with confidence.

A recently retired client told me they were finally ready to take the trip they’d been talking about for years.

As we discussed flights, they casually mentioned they’d fly economy to save on airfare. It wasn’t hesitation, but habit.

I pulled up their plan and walked them through the numbers. They had saved. They had prepared. They had done exactly what they were supposed to do.

So I said, “You can take the trip. And you can fly first class.”

They laughed at first. Then they paused.

Because for many people, the hardest part of retirement isn’t understanding the math.
It’s trusting yourself to spend after decades of saving.

Money Is Emotional Whether We Admit It or Not

We like to think financial decisions are purely logical, but money is shaped by far more than numbers.

It’s influenced by years of habits, responsibility, and the stories we tell ourselves about safety and security. For most of adulthood, the goal is simple: save, be careful, and prepare for the future.

When retirement arrives, the rules quietly change. The paycheck stops, but the saving mindset doesn’t. And that’s where many people get stuck. The goal in retirement is to be able to spend the money you worked so hard to earn.

The Fear That Follows Us Into Retirement

Even with a solid plan in place, a common question surfaces:

What if I run out?

This fear can influence decisions in subtle ways by choosing discomfort over ease, delaying experiences, or living more cautiously than necessary. Not because the numbers demand it, but because the mindset hasn’t caught up.

When fear drives decisions, retirement can look responsible on paper while feeling smaller in real life.

Aligning the Plan and the Person

The goal of financial planning isn’t just to make money last.

It’s to help people live well with the money they’ve earned.

That means aligning the plan with the person. It’s helping clients shift from accumulation to intention, and from caution to confidence.

My role as an advisor goes beyond building a plan. It’s helping clients trust it when it’s time to live it.

Because you didn’t save all these years just to get by.
You saved so you could live comfortably and enjoy life to the fullest.

Sometimes the most meaningful part of hiring a financial planner isn’t just preparing for the future. It’s having someone give you the peace of mind to help you step into the future with confidence.

Shawn C. Glogowski, CFP®, is Principal and Co-Owner at Note Advisors, LLC, where he serves as a CERTIFIED FINANCIAL PLANNER™. He works closely with clients to design, implement, and oversee comprehensive financial plans tailored to their unique goals. Shawn is passionate about meeting clients where they are and providing clear guidance on investment, tax, retirement, and estate planning strategies to help them make confident decisions for their future.

Connect with Shawn on LinkedIn for insights on financial planning topics.

New York Secure Choice Is Coming

Angela Hall, MBA, CFP Angela Hall on December 17, 2025

What New York State Business Owners Need to Know

New York is taking a major step to expand access to retirement savings, and it has real implications for business owners across New York State.

With the rollout of the New York Secure Choice Retirement Savings Program, private employers with 10 or more employees that don’t currently offer a retirement plan will soon face new registration requirements. This will be the first time retirement benefits have moved from a “nice to have” to a legal mandate.

Let’s dive into what New York State business owners should know and how the right planning approach can turn this mandate into an opportunity.

Which New York Employers Are Affected

Under Secure Choice, private employers will be required to take action if they:

  • Have been in business for 2 or more years
  • Employed 10 or more employees in the previous calendar year
  • Do not currently offer a qualified retirement plan already

New York employers that meet these criteria will need to either register for the state-sponsored Secure Choice program or offer an eligible private retirement plan and claim an exemption.

Registration deadlines will be phased in beginning in 2026, based on employer size.

How We Help New York Businesses Implement the Right Retirement Plan

At Note Advisors, we work closely with New York State business owners to help them choose the plan best for their business and their employees. Our support includes:

  • Custom plan design
    Tailored retirement solutions aligned with your business goals
  • Employee education & engagement
    Ongoing financial education to drive participation and retention
  • Certified Financial Planners
    Expert guidance to minimize administrative burden and stay compliant

Turning a Mandate Into an Opportunity

With Secure Choice deadlines approaching in the Spring of 2026, now is the time for New York State employers to review their retirement plan strategy. Early planning provides more flexibility, avoids last-minute compliance pressure, and allows businesses to implement a plan that supports growth and employee financial well-being.

If you don’t currently offer a retirement plan and would like guidance, I’m here to talk through your options and help you determine the best fit for your business. If you have questions or need help moving forward with confidence, let’s connect.

Schedule a Call

Angela M. Hall, Ph.D., CFP® is Note’s Senior Financial Advisor and head of the Retirement Planning division at Note Advisors. Angela works closely with business owners who need retirement plan options for their employees. As a Certified Financial Planner®, her mission is to guide you in achieving your most ambitious life and business vision by developing and maintaining custom wealth and retirement plan strategies. Connect with her on LinkedIn

Why Every Retiree Needs a War Chest

Avatar photo Mario Riccadonna on December 3, 2025

Murphy’s Law is the adage that “Anything that can go wrong, will go wrong,” and usually at the worst possible time.

There’s a retirement version of this, too: “The day you retire, the market will drop 20–30%.”

It’s not always literally true, but ask anyone who retired in 2000, 2008, or early 2022, and they’ll tell you that it sure felt like it. After decades of saving, the moment you finally start spending, the markets seem to turn against you.

That fear is real. But instead of trying to time the market (which no one can), the solution is to prepare for downturns with what we call a retirement war chest.

What is a War Chest?

A war chest is a 5–7 year bucket of cash and bonds that you maintain throughout retirement.

Think of it as a self-funded pension. No matter what the stock market does, you know you can cover your expenses for the next several years.

Why 5-7 years? History shows that’s usually enough time for markets to recover from even the worst downturns.

Take 2008. The S&P 500 lost nearly 37% that year. Painful. But what if you had 5 years of living expenses set aside in cash and bonds? You wouldn’t have been forced to sell stocks at the bottom.

By 2012, were we out of it? Yes… for the most part. While the market didn’t reach its pre-crash peak until early 2013, by 2012 the S&P 500 had climbed back significantly. In fact, from the March 2009 bottom through 2012, the S&P 500 gained over 100%.

In other words, by 2012, we were through the thick of it. A retiree with a war chest could have safely lived off that bucket while letting their stock portfolio heal.

Here’s a 5-year chart from that time period from Bloomberg as a reference:

So, how do you build a War Chest?

  1. Figure out your spending needs
    Example: $100,000 per year
  2. Multiply by 5-7 years
    That means setting aside $500,000-$700,000 in a mix of cash, CDs, and bonds
  3. Keep the rest invested for growth
    Your remaining portfolio stays in the stock market, giving you the growth needed for a decades-long retirement
  4. Replenish as you go
    In good years, refill the war chest by trimming gains from your stock portfolio. In bad years, let the bucket carry you until the markets recover.

The Psychology Bonus

This isn’t just about numbers, it’s about peace of mind. When you know your next 5–7 years of income are covered, market downturns feel less scary. You don’t feel forced to sell at the wrong time. You don’t panic. And you give your long-term investments the time they need to bounce back.

The Bottom Line

You don’t need to predict when the next downturn will happen. You need to be prepared for it. By building and maintaining a 5–7 year war chest, you can retire confidently—even if Murphy’s Law shows up on your first day of retirement.

The goal isn’t just financial security. It’s peace of mind so you can stop worrying about market headlines and start enjoying the retirement you’ve worked so hard to create.

Ready to build your War Chest?

Schedule a call

No portion of this commentary is to be construed as the provision of personalized investment, tax or legal advice.  Please consult with the appropriate professionals for advice that is specific to your situation.  Note Advisors, LLC can assist in determining a suitable investment approach for a given individual, which may or may not closely resemble the strategies outlined herein.

How to Take Money Out of Your IRA Completely Income-Tax Free

Avatar photo Mario Riccadonna on November 13, 2025

The Power of Qualified Charitable Distributions

When you’ve saved diligently for decades, the last thing you want in retirement is to watch your hard-earned nest egg get eaten away by taxes. If you’re charitably inclined, there’s a powerful tax planning tool available to retirees that can allow you to support the causes you care about and reduce your tax burden: the Qualified Charitable Distribution (QCD).

Let’s unpack what it is, why it matters, and how you can use it to take money from your IRA completely income-tax free.

What is a Qualified Charitable Distribution (QCD)?

A QCD allows individuals aged 70½ or older to donate directly from their IRA to a qualified charity. Instead of taking money out of your IRA, paying taxes, and then writing a check to charity, the funds go directly from your IRA to the nonprofit.

  • Age requirement: You must be at least 70½.
  • Annual limit: Up to $100,000 per year, per person, can be donated.
  • Eligible accounts: Traditional IRAs (not 401(k)s or other plans, unless rolled into an IRA first).
  • Qualified charities: Must be 501(c)(3) organizations (not donor-advised funds or private foundations).

The key benefit? The amount distributed is not reported as taxable income on your return.

Why QCDs Are So Valuable in Retirement

At first glance, you might think, “Well, I already donate to charity, why not just deduct it?” But here’s why QCDs can be much more powerful:

They Work Even If You Don’t Itemize:
Most retirees take the standard deduction. If that’s you, a QCD gives you tax credit for charitable giving that you wouldn’t otherwise receive.

They Reduce Required Minimum Distributions (RMDs):
Depending on your birth year at age 72, 73, or 75, the IRS requires you to start withdrawing from your IRA. These withdrawals are fully taxable as ordinary income. QCDs count toward your RMD, but they’re excluded from taxable income.

They Lower Adjusted Gross Income (AGI):
Unlike a normal charitable deduction, which reduces taxable income only if you itemize, a QCD reduces your AGI directly. Why does that matter? Lower AGI can reduce:

-The taxable portion of your Social Security benefits.

-Medicare IRMAA surcharges (the extra premium charges on Parts B & D).

-Phaseouts for other deductions and credits.

The Power of a QCD in Action

Let’s look at an example of how this works. Let’s say you’re 74 years old with $2 million in a traditional IRA. Your RMD for the year is about $78,000. You also typically give $20,000 a year to your church and a local hospital foundation.

Option 1: Traditional Giving

  • You withdraw the $78,000 RMD.
  • You owe income tax on the full $78,000 (let’s say ~24%, or $18,720).
  • You write a $20,000 check to charity.
  • Since you take the standard deduction, you don’t get any tax benefit for your giving.

Option 2: Using a QCD

  • You direct $20,000 of your RMD to the charities as a QCD.
  • That $20,000 never hits your tax return as income.
  • You only report $58,000 of taxable income instead of $78,000.
  • That lower AGI could potentially reduce and shadow tax (i.e. Medicare premiums or the amount of your Social Security subject to tax)

Result: You supported the same charities, but you saved $4,800 in taxes simply by changing how the gift was made.

Common Mistakes to Avoid with QCDs

  • Don’t withdraw first. The money has to go directly from your IRA custodian to the charity. If you take possession, it’s taxable.
  • Don’t wait until December 31st. Processing times can get messy, and if it’s not completed in the calendar year, it doesn’t count.
  • Don’t use QCDs for donor-advised funds or private foundations. They don’t qualify.

Don’t forget to tell your tax preparer. IRA custodians report distributions on Form 1099-R without showing which were QCDs. If you don’t flag it, your return may show the full distribution as taxable.

Who Should Consider QCDs?

QCDs are especially valuable if:

  • You’re charitably inclined and already give annually.
  • You’re 70.5 or older.
  • You want to reduce Medicare IRMAA surcharges or taxes on Social Security.
  • You take the standard deduction and wouldn’t otherwise benefit from charitable contributions.

Final Thoughts

Qualified Charitable Distributions aren’t just about giving, but about giving smarter. They allow you to align your wealth with your values, while also reducing one of the largest expenses in retirement: taxes. If you’re over 70½ and have a traditional IRA, QCDs could be one of the most tax-efficient strategies available to you. Whether you’re giving $5,000 or $100,000, it pays to be intentional about how you give.

Learn more about how to save on taxes before year-end by scheduling a call with us!

Schedule a call

No portion of this commentary is to be construed as the provision of personalized investment, tax or legal advice.  Please consult with the appropriate professionals for advice that is specific to your situation.  Note Advisors, LLC can assist in determining a suitable investment approach for a given individual, which may or may not closely resemble the strategies outlined herein.

What 401(k) Plan Sponsors are Focusing on

TJ Conway on November 3, 2025

Here’s what every plan sponsor should know as we head into a new year

 As 2026 approaches, 401(k) plan sponsors are prioritizing three key areas: expanding financial wellness, ensuring regulatory compliance, and reducing plan costs.

Expanding Financial Wellness Programs

About 39% of sponsors are focusing on programs that help employees manage day-to-day finances and plan for the future. These programs go beyond retirement savings to include budgeting, emergency funds, debt management, and college savings, helping reduce financial stress and improve productivity. At Note Advisors, we provide this support to all plan participants by offering a one-on-one meeting with our Certified Financial Planners to address these topics outside the scope of their 401(k) plan, helping to enhance overall financial wellness.

Ensuring Regulatory Compliance

SECURE Act 2.0 introduces several changes for 2026, including Roth treatment of catch-up contributions for high earners, gradual increases in required minimum distribution ages, access for long-term part-time employees, and enhanced automatic enrollment rules. Sponsors need to update plan documents, payroll systems, and communicate clearly with participants.

Reducing Plan Costs

Around 70% of sponsors are exploring cost-saving strategies such as plan design changes, vendor evaluations, and multi-employer plan structures. Many are also using outsourcing and technology to simplify administration and manage fiduciary risk efficiently.

In 2026, sponsors aim to improve employee financial well-being, comply with new regulations, and manage costs. These priorities help ensure their retirement plans are effective, efficient, and supportive of participants’ long-term goals.

The Value of Professional Guidance

Research shows that individuals who work with a financial advisor tied to their retirement plan feel more confident in their decisions. They tend to contribute more regularly, invest in ways that better align with their goals, and report greater peace of mind. Having a trusted professional walk alongside you can turn confusion into clarity and uncertainty into action.

TJ Conway, CFP® APMA™ is a Financial Advisor and Retirement Planning Associate at Note Advisors. TJ works closely with plan sponsors and participants to support retirement plan enrollment, conduct ongoing plan reviews, and help align investment strategies with long-term financial goals. As a Certified Financial Planner® and Accredited Portfolio Management Advisor℠ (APMA®), TJ is committed to providing client-focused, high-quality financial advice. Connect with him on LinkedIn

Retirement Income Guardrails: Spend Without Fear

Avatar photo Mario Riccadonna on October 24, 2025

Rethinking the question most people ask as they approach retirement.

When most people approach retirement, the big question they ask is:
“How much can I safely spend each year without running out of money?”

It’s a fair question. But it’s the wrong one.

A better question is:
“How do I set up a system that lets me spend confidently today, while giving me permission to adjust when—not if—markets (or life) throw me a curveball?”

That’s where retirement income guardrails come in.

What are retirement income guardrails?

Think of guardrails on the highway. They don’t dictate the exact lane you have to drive in—but they keep you from veering too far off course.

Retirement guardrails do the same thing for your spending. Instead of sticking to a rigid number year after year (say, the famous “4% rule”), guardrails allow you to take, on average, a higher withdrawal rate—so long as you make small adjustments when needed.

This flexibility is powerful because retirement isn’t a straight, predictable road. Markets go up and down, expenses change, and unexpected events happen. Guardrails help you adjust without losing your overall sense of direction.

Guardrail rules in practice

One of the best-known systems comes from Jonathan Guyton and William Klinger, who studied “dynamic withdrawal strategies.” Here’s the gist:

  • You start with a base withdrawal rate (say 5.4% of your starting portfolio).
  • You increase that withdrawal for inflation each year—unless the market gives you a reason not to.
  • Guardrails kick in when your withdrawal rate drifts too far from the original target.

For example:

  • If withdrawals climb above 6.5% of your remaining portfolio, you cut back.
  • If withdrawals drop below 4.3%, you give yourself a raise.

It’s not about following a strict formula—it’s about setting clear boundaries. Guardrails only work when the underlying portfolio is built and managed correctly. A portfolio that is too conservative won’t generate enough growth to recover when markets rebound. On the other hand, a portfolio that is too aggressive won’t provide a large enough “war chest” of stable assets to carry you through downturns—potentially forcing you to sell equities at the worst time.

Dynamic vs Static Withdrawals

Static Withdrawal Strategy = “Set it and forget it.” You pick a number (like 4% of your initial balance) and keep spending it, regardless of what markets do. Simple, but it can leave you with too much unspent money—or risk running out if markets turn south early.

Dynamic Withdrawal Strategy = “Adjust as you go.” You spend freely in good years and tighten up in tough ones. The tradeoff? Slightly less predictability, but much more security and flexibility.

Which one feels more like real life? (hint, hint: Dramatic)

A $2 Million Portfolio Example

Scenario 1: 4% (Pre-tax) Withdrawal Rate

  • That’s about $80,000 annually from a $2M portfolio.
  • With inflation adjustments and normal market conditions, research shows this level of spending is very sustainable. But can we achieve the same outcome (not running out of money) while spending more?

Scenario 2: 5.4% (Pre-tax) Withdrawal Rate

  • That’s about $108,000 annually from a $2M portfolio—$28,000 more per year than the standard 4% rule.

Can it work? Yes—with the proper portfolio structure and management 

  • In a recession, you might cut back to $97,200 (a 4.86% withdrawal rate). Notice that’s still higher than the 4% rule based on the starting portfolio.
  • When markets are strong, you have the opportunity to give yourself a raise. For example, if your $2M portfolio grows to $2.5M, you could increase withdrawals to $118,800.

The real danger isn’t starting at $108k. The danger is insisting on that number no matter what happens.

Income Guardrails Sample strategy showing portfolio income potential

The Behavioral Side: Why this Works

Retirement isn’t just math—it’s psychology.

One of the biggest fears retirees face is running out of money. Ironically, that fear often leads to underspending. Many sacrifice enjoyment in their 60s and 70s—when they’re healthy and active—just to preserve a cushion for their 90s.

Guardrails solve this problem because they give retirees permission to spend:

  • You know what your “lane” is.
  • You know you have room to go faster when markets are kind.
  • You know you’ll slow down when things get rocky.

That flexibility builds confidence. Instead of feeling like you’re walking a tightrope, you feel like you’re driving with a sturdy guardrail system in place.

The Bottom Line

Instead of obsessing over the “safe withdrawal rate,” focus on creating a guardrail system that works for you.

  • Start by figuring out your initial withdrawal rate.
  • Build in guardrails that trigger adjustments if spending drifts too far.
  • Make sure your portfolio is structured appropriately. Guardrails don’t work for every portfolio. If you’re unsure whether your portfolio is set up to support a higher dynamic withdrawal rate, please reach out to us—or your financial professional—for guidance.
  • Give yourself permission to enjoy the wealth you’ve worked so hard to build.

Because retirement should feel less like a tightrope walk and more like a road trip where you know the path is safe, even if you need to steer around a few potholes along the way.

Feel like you could use sturdier guardrails before you retire?

Schedule a call

No portion of this commentary is to be construed as the provision of personalized investment, tax or legal advice.  Please consult with the appropriate professionals for advice that is specific to your situation.  Note Advisors, LLC can assist in determining a suitable investment approach for a given individual, which may or may not closely resemble the strategies outlined herein.

Smart Strategies for Medicare & Retirement Planning

Heather Ryan on September 19, 2025

Join us on Thursday, October 9th, for an informative joint webinar hosted by AAA Medicare and Note Advisors designed to help you navigate two of the most important aspects of your future: Medicare and retirement planning.

In this session, we will cover topics such as:

  • Key Medicare basics and recent updates you need to be aware of
  • How healthcare costs can impact your retirement strategy
  • Working past 65 and enrollment periods
  • Retirement income planning and Social Security
  • Tax strategies for retirement
  • Estate planning strategies

Whether you’re approaching retirement or simply planning ahead, this webinar will give you the knowledge and tools to make confident, informed choices.

Who should attend?

Anyone nearing Medicare eligibility, preparing for retirement, or interested in optimizing their long-term financial plan.

Presented by:

AAA Medicare – David Kamholz, Licensed Insurance Agent

Note Advisors – Mario Riccadonna, CFP®, EA

Register Here