The Christian Retirement Show

How much net worth do you actually need to be considered middle class, upper-middle class, affluent, or rich in retirement?

 

In this video, Eric Schrum, CFP® professional and owner of Schrum Private Wealth Management, breaks down the net worth ranges for Americans age 65 and older, including the median retiree net worth, the top 10 percent, and the top 1 percent.

 

More importantly, Eric explains why your net worth percentile may have very little to do with whether your retirement is actually secure.

 

You will learn:

 

• The net worth of the bottom 25 percent of retirement-age Americans

If you are retired or within 10 years of retirement and have more than $1 million in investable assets, schedule a complimentary 10-minute introductory call using the link below:

• The median net worth for Americans age 65 and older

• What it takes to be considered upper-middle class in retirement

• The net worth required to enter the top 10 percent

• The approximate threshold for the top 1 percent

• Why home equity can make net worth figures misleading

• Why spending, income, taxes, and lifestyle matter more than comparison

• The questions retirees should be asking instead of, “Am I rich enough?”

 

A retiree with a larger net worth is not always in a stronger financial position. Retirement security depends on how much income you receive, how much you spend, where your assets are held, how much debt you carry, and whether your financial plan can support the life you want to live.

 

At Schrum Private Wealth Management, we help pre-retirees and retirees manage their investments, retirement income, spending, and tax strategy so they can live the lifestyle they feel called to live without constantly worrying about running out of money.

 

 

📅 Work with Eric

Want an honest, second opinion on the investments in your retirement portfolio? Eric offers complimentary consultations for those approaching or in retirement with $1M or more in savings.

Book Complimentary Consultations Here: https://calendly.com/meeterics/free-10-minute-intro-call

Email Here: eric@schrumpw.com

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

We're back with Part 2 of the CFP® Investment Rankings series. This time, Eric Schrum grades individual stock picking, diversified stock portfolios, Universal Life Insurance, alternative investments (hedge funds, private equity, VC), and gold — including a warning about the predatory gold companies specifically targeting retirees.

 

Missed Part 1? Watch it here: https://youtu.be/1--a3FNe9NQ — we covered Mutual Funds, ETFs, Variable Annuities, and Life Insurance.

 

As always, these are general rankings. Your situation is unique. But this gives you a smart framework for evaluating what you're being offered in retirement.

 

🔑 Key Takeaways

• Individual stock picking is closer to a coin flip than a skill — most investors learn this the hard way
• A strategically diversified portfolio of individual stocks is a different story — but requires real expertise to execute well
• Universal Life Insurance has the same core problem as Whole Life: mixing insurance and investing rarely benefits the buyer
• Alternative investments can be excellent for non-correlated exposure and strong returns — but you must be an accredited investor and vet the fund carefully
• Gold can serve as a legitimate hedge — but predatory gold companies specifically target retirees using fear tactics to get into your IRA and 401(k)
• Know what you're buying, what a reasonable allocation looks like, and who is selling it to you before committing

 

📅 Work with Eric

Want an honest, second opinion on the investments in your retirement portfolio? Eric offers complimentary consultations for those approaching or in retirement with $1M or more in savings.

Book Complimentary Consultations Here: https://calendly.com/meeterics/free-10-minute-intro-call

Email Here: eric@schrumpw.com

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

Are the investments you're being pitched actually good for YOU — or good for the person selling them? CFP® Eric Schrum cuts through the noise and gives honest, no-nonsense grades on 5 investments retirees commonly encounter: Mutual Funds, Variable Annuities, ETFs, Whole Life Insurance, and Term Life Insurance.

This is Part 1 of an ongoing series. Every retiree's situation is unique, but this gives you a strong foundation for evaluating what you're being offered — and what to watch out

 

🔑 Key Takeaways

• Always check the fee share class on mutual funds — lower fees matter more than most people realize

• Variable annuities are often loaded with hidden fees, surrender penalties, and long lock-up periods — approach with caution

• ETFs offer low costs, tax efficiency, and broad options for both passive and active investors

• Mixing life insurance and investing (whole life) typically benefits the seller more than the buyer

• If you need life insurance, level-term is almost always the cleaner, more cost-effective choice

• Retirees should ask whether they still need life insurance at all — or if savings can serve as self-insurance

 

📅 Work with Eric

Want a personalized review of the investments in your retirement portfolio? Eric offers complimentary consultations for those approaching or in retirement with $1M or more in savings. Book Here: https://calendly.com/meeterics/free-10-minute-intro-call

Email Here: eric@schrumpw.com

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

⚠️ Miss this IRS deadline and you could owe a 25% penalty on your own retirement money. In this video, CFP® Eric Schrum breaks down exactly what Required Minimum Distributions (RMDs) are, when they kick in, how much they could cost you if you ignore them — and the strategies you can use right now to take control before the IRS does.

Whether you're approaching retirement or already in it, this is one of the most important retirement planning concepts you need to understand.

 

🔑 Key Takeaways

• RMDs begin at age 73 (age 75 if born in 1960 or later) from traditional IRAs, 401(k)s, and other tax-deferred accounts
• Missing your RMD triggers a 25% IRS penalty (reduced to 10% if corrected within 2 years)
• Roth IRAs and taxable brokerage accounts are NOT subject to RMDs
• Taking your first RMD in the year you turn 73 avoids a double-RMD year
• Roth conversions, QCDs, and IRMAA management are powerful strategies to reduce your RMD burden
• QCDs allow up to $111,000/year per person in charitable gifts directly from your IRA — tax-free and RMD-satisfying

 

📅 Work with Eric

If you have $1M or more in retirement savings and want to understand how RMDs will affect your specific situation, schedule a complimentary consultation: https://calendly.com/meeterics/free-10-minute-intro-call

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

 

Most retirees budget carefully for everything — except the Medicare bill that quietly adds $5,000 or more to their annual expenses. It's called IRMAA, and if you have a substantial retirement portfolio, there's a good chance it's coming for you.

In this episode, I break down exactly what IRMAA is, why it catches so many high-income retirees completely off guard, and — most importantly — four strategies you can use right now to reduce or eliminate it before you retire.

 

📅 Book a Free 30-Minute Retirement Readiness Call — For investors with $1M+ within 10 years of retirement → https://calendly.com/meeterics/free-10-minute-intro-call

 

In this video:

✅ What IRMAA actually is (and why nobody warns you about it)

✅ The 5 IRMAA surcharge tiers — real 2025 dollar amounts

✅ The two-year lookback rule that blindsides new retirees

✅ Why a single high-income year can cost you for years after

✅ How Roth conversions can dramatically reduce your IRMAA exposure

✅ The little-known appeal process if you've already been hit

✅ How to plan your retirement income around the IRMAA thresholds

 

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

 

Most people don't find out about Required Minimum Distributions until it's too late — and by then, they're already facing a tax bill they never planned for. In this video, I break down exactly what RMDs are, when you're required to start taking them, how to calculate yours, and the smart strategies retirees are using right now to minimize the tax hit.

 

If you have a 401(k), Traditional IRA, SEP-IRA, or 403(b) — this episode is for you.

 

📅 SCHEDULE A FREE INTRO CALL https://calendly.com/meeterics/free-10-minute-intro-call

 

📌 IN THIS EPISODE

✅ What a Required Minimum Distribution is — and why the IRS requires them

✅ The current RMD starting ages: 73 or 75 depending on your birth year

✅ How the SECURE Act and SECURE 2.0 changed the rules

✅ The step-by-step RMD calculation using the IRS Uniform Lifetime Table

✅ Why Roth IRAs don't have RMDs (and why that matters)

✅ The Qualified Charitable Distribution (QCD) strategy most retirees overlook

✅ Why taking two RMDs in one year can create a surprise tax spike

✅ What happens if you miss an RMD — the 25% penalty explained

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

Are you actually ready to retire, or are you just chasing a number that may not even fit your life?

 

One of the biggest mistakes people make when planning for retirement is fixating on an arbitrary portfolio goal like $1 million, $2 million, or more, without ever asking a better question: How much do I actually need to live the life I want in retirement?

 

In this video, I walk through a more practical way to think about retirement readiness by starting with your income needs, not a random investment target. Once you know how much income you’ll need each year, you can begin backing into what your portfolio actually needs to produce and whether you may already be closer to retirement than you think.

 

I also cover a few major retirement planning mistakes people often miss, including taxes, inflation, and expenses that may fall away later like a mortgage payment.

 

If you want more clarity around whether you have enough to retire, this video will help you think about it the right way.

 

If you want help turning your portfolio into a structured retirement paycheck: 👉 Apply here: https://calendly.com/meeterics/free-10-minute-intro-call

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

If you're between 30 and 50, you're sitting on one of the greatest wealth-building windows of your life — but only if you make the right moves. As a CFP professional with over 10 years in the wealth management industry, I'm breaking down the 5 things I'd focus on right now to build serious wealth in your 30s and 40s.

Whether you're just starting to get serious about money or already earning well but not sure where to go next — this episode is for you.

 

In this episode:

 

✅ Why budgets aren't just for beginners (and the shocking NFL stat that proves it)

✅ How to automate your savings so wealth-building happens on autopilot

✅ Why cutting your Starbucks habit won't make you rich — and what actually will

✅ The lifestyle inflation trap that keeps high earners broke

✅ The most common (and costly) investing mistakes to avoid at all costs

💡 The person who has $3 million is the same person who didn't spend $3 million.

 

If you want help turning your portfolio into a structured retirement paycheck: 👉 Apply here: https://calendly.com/meeterics/free-10-minute-intro-call

 

 

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

 

If you want help turning your portfolio into a structured retirement paycheck:

👉 Apply here: https://calendly.com/meeterics/free-10-minute-intro-call

 

When should you claim Social Security? Should you take it at 62, wait until full retirement age, or delay benefits? In this video, I walk through 3 common Social Security mistakes that can cost retirees thousands of dollars over time.

 

We cover:

• Claiming Social Security too early just because it’s available
• Making a Social Security decision without coordinating it with your overall retirement income plan
• Ignoring the effect Social Security claiming decisions can have on a spouse or surviving spouse

 

If you are planning for retirement and want to understand how Social Security fits into a retirement paycheck strategy, this video is for you. The goal is not just to maximize a Social Security check in a vacuum. The goal is to make better decisions about retirement income, taxes, withdrawals, and long-term financial security.

#SocialSecurityMistakes #SocialSecurity #RetirementPlanning #Retirement #FinancialAdvisor

The content Provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy investment product or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principle. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC registered investment advisor.

 

In this episode, we break down what the latest Iran developments could mean for the stock market, oil prices, inflation, and investors.

Geopolitical headlines can move markets fast, but not every headline matters equally. In this conversation, we talk through what investors should actually pay attention to, where higher oil prices could show up first, what parts of the market may be helped or hurt, and how long term investors should think when volatility rises.

If you’ve been wondering what the Iran situation means for your portfolio, this episode will help you think through it in a calm, practical way.

In this episode, we cover:

• What matters most to markets when Iran escalates

• How much of this year’s volatility is tied to Iran versus normal market forces

• Where higher oil prices hit consumers and investors first

• Which parts of the market tend to perform better or worse in this kind of environment

• What long term investors should do instead of reacting emotionally

If you want help turning your portfolio into a structured retirement paycheck: 👉 Apply here: https://calendly.com/meeterics/free-10-minute-intro-call

 

 

The content provided is for general information and educational purposes only and should not be considered a recommendation of any particular strategy, investment product, or investing advice of any kind. Content is not intended to be and should not be construed as legal or tax advice and or a legal opinion. Please consult a financial professional for your specific situation. Investing involves risks, including the loss of the entire principal. Past performance does not guarantee future results. The views and opinions expressed here are of the author and do not necessarily reflect the opinion of Schrum Private Wealth Management, LLC. Investment Advisory services offered through Schrum Private Wealth Management, LLC. An SEC-registered investment advisor.