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Do you remember the iconic Toys 'R Us jingle from the 1980s and 90s?
The one with the catchy chorus, "I don't wanna grow up, I'm a Toys 'R Us kid"? Fun fact: that jingle was co-written by legendary best-selling author James Patterson back when he worked as an advertising executive!
While we can all relate to not wanting to grow up, many adults face a similar mental block when approaching their financial futures: I don't wanna plan! It’s a completely normal feeling, but procrastination has a steep price. According to the National Financial Educators Council, financial illiteracy costs Americans a staggering $243 billion. Shockingly, only 36% of Americans have a written financial plan!
If you read our recent 2026 kick-off blog about New Year's Resolutions, you know how deeply we believe in our Retirement Education Process (REP). Step 1 of that process is always Training Through Education. Today, we're putting that education into action by sharing key insights from Chapter 6 of our book, The Wells of Wealth System.
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Missed the other chapters? Not to worry! Check them out now:
- Introduction: Where’s the Beef? Why Your 401(k) Is "All Bun and No Income"
- Chapter 1: Got Risk? The Math of Retirement and Top Reasons People Run Out of Money
- Chapter 2: Have It Your Way: 5 Steps to Planning Your Retirement Income
- Chapter 3: Time to Make the Dough-nuts: How to Avoid Running Out of Money in Retirement
- Chapter 4: Don’t Lay a Finger on My 401(k): Tax Planning in Retirement
- Chapter 5: The Hidden Cost of Living a Little Longer: Healthcare and Longevity Risk in Retirement
Jump to:
- Why Your Accumulation Strategy Isn't Enough
- Real-Life Planning: The Wells of Wealth System in Action
- Test Your Financial Advisor
- Taking The Next Step
- TL;DR / Quick Q&A Section
- You're Not Alone
- Disclosures
Why Your Accumulation Strategy Isn't Enough
You've worked hard to save your money and made sacrifices to tuck it away, so it's tempting to think your current investment strategy is enough. Unfortunately, today's retirement system is rigged against the uninformed.
Once you transition from saving (the Accumulation Phase) to spending (the Decumulation Phase), the rules of the game change entirely. To ensure you don't run out of money, your income planning must be connected to the Seven Pillars of a Holistic Plan:
- Income Planning
- Taxes
- Investments
- Insurance
- Social Security
- Healthcare and Medicare
- Legacy Planning
Ignoring these pillars can devastate your family's financial future. Just look at the tragic Fruehauf Legacy: August Fruehauf invented the semi-truck and built a Fortune 500 company, but by the third generation, the family trust was entirely gone due to a lack of personal financial education.
Real-Life Planning: The Wells of Wealth System in Action
Instead of hoping for the best, you need a strategy that can weather economic storms. Take Bill and Mary, a couple whose dream was to spend winters working as ski patrol in Utah and summers teaching sailing in the Caribbean. They had invested aggressively in the stock market, but when the Great Recession hit, their big dream was threatened.
By taking them through the Planning Phase using our Wells of Wealth time-segmentation strategy, we helped them allocate a sustainable pool of income into a Conservative Well for the first 11 years of their retirement. This meant that even if the stock market became volatile, they wouldn't have to cancel their sailing expeditions or sell their dream car.
Test Your Financial Advisor
Are you working with the right professional to help you navigate this transition? You can test your current advisor by asking a few pointed questions:
- What is your experience with the Decumulation Phase? You need an advisor trained to coordinate your investment decisions with the seven pillars of a holistic retirement to ensure your money lasts your entire lifetime.
- Are you trained to give advice on filing for Social Security? Look for professionals with specific designations, such as the National Social Security Advisor (NSSA®) or Certified in Social Security Claiming Strategies (CSSCS).
- How do you get paid? Understand whether they receive commissions on products, a percentage of assets under management, or flat fees for certain services.
Getting the right help pays off. Did you know that Americans who work with a financial advisor can retire, on average, two years sooner than those who don't?
Taking the Next Step: Your No-Cost Mini-Plan
In our REP process, Step 3 is receiving your No-Cost Mini-Plan. If you are ready to evaluate your financial picture and gain confidence in your future, we offer a no-obligation mini-plan that includes:
- A custom Social Security Maximization Report
- A Tax and Portfolio Audit
- An analysis to see which Wells of Wealth your money is currently allocated into
TL;DR / Quick Q&A
TL;DR: Transitioning into retirement requires moving from an accumulation mindset to a decumulation mindset. Only 36% of Americans have a written financial plan, and failing to coordinate the seven pillars of retirement can put your life savings at risk. Getting a holistic, written plan helps ensure you can remain a kid in retirement without worrying about financial issues!
Q: Can I change my Social Security claiming decision if I made a mistake? A: Yes, you are allowed a "Social Security do-over," but strict rules apply. You can only do this once, and you must withdraw your application within 12 months of filing for your benefits.
Q: What is the "Deeming Rule" for Social Security? A: The Deeming Rule dictates that if you are entitled to receive more than one type of benefit (like your own benefit plus a divorce benefit), the Social Security Administration will automatically pay you the larger amount. However, this rule does not apply to survivor benefits, meaning you could be missing out on money you are owed if you don't proactively plan for it.
Q: Where can I get started? A: You can visit our Learning Center to continue your education, or schedule a call and start the process to receive your complimentary mini-plan!
You’re Not Alone: Next Steps to Financial Confidence
Transitioning from the accumulation phase to the decumulation phase of your financial life can feel overwhelming, but you don't have to figure it out on your own. Just like we discussed in our New Year's blog, true financial confidence comes from Getting Your REPs in!
If you are ready to move from Step 1 (Training Through Education) into personalized strategy, we invite you to take advantage of our No-Fee Mini-Plan. This isn't a generic printout; it is a custom evaluation of your unique financial picture that includes three critical reports:
- A Social Security Maximization Report: We analyze your data to uncover filing strategies designed to optimize your benefits and prevent you from leaving money on the table.
- A Tax and Portfolio Audit: We evaluate your current portfolio to identify your risk level and potential tax liabilities.
- A Wells of Wealth Report: We show you how time-segmentation can help protect your income during those critical early years of retirement, ensuring you aren't drawing from a declining bucket.
Want a free guide to help you along the way? Click here to schedule a 20-minute strategy call with a retirement educator. When you call, be sure to request your complimentary copy of Don Chamberlin's book, The Wells of Wealth System!
Not quite ready to talk? That is completely fine! Our goal is to help you get smarter so that you will not be caught unprepared. We invite you to visit our Learning Center to access dozens of on-demand webinars, podcasts, and educational videos so you can continue building your knowledge base at your own pace.
Even if you’re not quite ready to take that step, we still want you to feel knowledgeable and empowered as you move that direction. Check out the Learning Center on our website for videos and blog posts that will help you understand the different factors at play in a holistic retirement plan and how you can start making small changes today that will have a big impact tomorrow.
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More From Our Book (and What's Up Next!)
- Introduction: Where's the Beef? Why Your 401(k) is "All Bun and No Income"
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Chapter 1: Got Risk? The 3 Biggest Reasons Why People Run Out of Money
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Chapter 2: Have It Your Way: 5 Steps to Planning Your Retirement Income
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Chapter 3: Time to Make the Dough-nuts: How to Avoid Running Out of Money in Retirement
- Chapter 4: Don’t Lay a Finger on My 401(k): Tax Planning in Retirement
- Chapter 5: The Hidden Cost of Living a Little Longer: Healthcare and Longevity Risk in Retirement
- Chapter 6: “I don’t wanna plan!”: Putting Your Education Into Action
- Chapter 7: Wrapping It All Up (Coming in September)
In the meantime...
Disclosures
Comments regarding a particular client’s experience may or may not be the same as another client’s experience, and is not an indication that any client or prospective client will experience the same or a higher level of future success or performance.
This commentary reflects the personal opinions, viewpoints and analyses of The Chamberlin Group. It does not necessarily reflect the views of Foundations Investment Advisors, LLC (“Foundations”) and is provided for educational purposes only and the contents are solely maintained by and the responsibility of the applicable 3rd party. The 3rd party content is subject to change at any time without notice, and does not represent an express or implied opinion or endorsement of any specific investment opportunity, investment strategy or planning strategy. Foundations in no way deems reliable any statistical data or information obtained from or prepared by third party sources in this commentary, nor does Foundations guarantee its accuracy or completeness. No legal or tax advice is provided or intended.
Any reference to free or complimentary services/products does not obligate a prospective client to engage the firm or its representative for any future services.
As of the writing of this book and blog post, the author is an investment adviser representative and supervised person of Foundations Investment Advisors, LLC (“Foundations”), an SEC registered investment adviser. The opinions and assertions expressed in this book are solely those of the author and do not necessarily reflect the views of Foundations. Foundations’ involvement with this book has been limited to performing a high-level compliance review. No compensation related to this book will be directly or indirectly shared with or remitted to Foundations.
This book includes, among other things, general concepts about investment strategies, including retirement-focused strategies, some of which are explained in the book through the use of case studies and examples. Nothing in this book is intended to provide any specific or targeted investment, financial, tax, or legal advice. Individuals are strongly encouraged to consult with their own investment, financial, tax, and legal professionals regarding these matters.
The use of brand names and mention of specific commercials herein is for educational purposes only and does not constitute or imply endorsement from Wendy’s, McDonalds, Burger King, the California Milk Processor Board, the National Milk Processor Education Program (MilkPEP), Dunkin’ Donuts, Butterfinger candy bar, Big Red gum, Toys "R" Us or any other company or brand.
The stories and characters in this book are purely fictional or are based upon real-life events that have been both anonymized and modified. Each story combines facts and circumstances that have been redacted or modified to highlight the subject matter of each chapter. These facts and circumstances are not intended to represent any one client, either in part or in whole, and they are included solely as educational tools. No story should be interpreted as applying to any reader's or person’s individual situation or circumstances or be construed as personalized investment advice. Always consult with your tax professional, attorney, and financial adviser regarding such matters.
Any statistical data or information included herein has been obtained from third-party sources believed to be reliable; however, neither Foundations nor any third-party has independently verified such data and information. Foundations does not guarantee its accuracy or completeness, and neither Foundations nor the author has any obligation to, nor will they, update information that is later determined to be inaccurate for any reason (including becoming stale or outdated).
A Roth conversion may not be suitable for your situation. The primary goal in converting retirement assets into a Roth IRA is to reduce the future tax liability on the distributions you take in retirement, or on the distributions of your beneficiaries. The information provided is to help you determine whether or not a Roth IRA conversion may be appropriate for your particular circumstances. Please review your retirement savings, tax, and legacy planning strategies with your legal/tax advisor to be sure a Roth IRA conversion fits into your planning strategies.
This is not endorsed or affiliated with the Social Security Administration or any U.S. government agency.