You’ve heard us say it before: Chamberlin is an education-first company, because your plan is your education in action. We want you to have the most information you can right at your fingertips, no matter how you learn best: watching, reading, listening, or attending a class.
To that end, CEO and Certified Financial Fiduciary and Educator Don Chamberlin is excited to debut his new book, hitting shelves this spring. “The Wells of Wealth System” is a whole new look at our core philosophy of holistic planning and our proprietary Wells of Wealth retirement income strategy.
The book frames often complex and difficult-to-understand retirement topics through the lens of classic TV and radio commercials. They’re all jingles and stories you’ll remember, making this a fun, engaging way to enrich your own retirement education. The book is less than 200 pages, so it’s a quick read, but with potential to affect your finances for many years to come.
Over the next few months, we’ll break down the key concepts here on the blog, but when you schedule your no-fee, 20-minute strategy session with a trained and certified Retirement Educator, you can get a copy for your personal library at no cost to you. More on that later.
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Remember the iconic 1984 Wendy’s commercial where Clara Peller poked at a giant, fluffy hamburger bun and demanded, "Where's the beef?" It was a cultural phenomenon because it pointed out something fundamentally wrong: you can’t have a great burger without the substance.
In “The Wells of Wealth System,” Don argues that many Americans are facing a similar, "beefless" reality with their retirement. We’ve been sold a "big fluffy bun" in the form of the 401(k), but we are missing the most critical ingredient: reliable income.
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The world has changed significantly since the 1970s. In 1970, nearly 50% of the workforce had private pension plans funded and managed by employers. Those plans guaranteed income for life. Today, that number has plummeted to just 11%.
When Congress created the 401(k) in 1978, it was never originally intended to be the primary retirement vehicle for the average worker. But as the various forms of 401(k)/403(b)/IRA accounts have replaced pensions in company benefits, the responsibility for funding, investing, and managing retirement has shifted almost entirely onto you.
As Nobel laureate Robert C. Merton points out, "The thing that matters for retirement is the amount of income you get, not how big your pot is." If you have a million-dollar "pot" but no plan to convert it into a paycheck, you’re just holding a very large bun.
Don shares his own "wake-up call" from the 2000 dot-com crash and the 2008 financial crisis. He watched hardworking families lose 50% of their savings because they were told to "stay the course" in a market they couldn't control.
He realized that the "accumulation" strategies used during your working years—simply buying and holding—are the exact opposite of what you need during the "decumulation" phase (spending your money). Without a plan to protect your assets from market volatility, you risk compounding your losses just when you need the money most.
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The goal of this book is to bridge the gap between growing wealth and creating the income you need to enjoy it. Chamberlin introduces a "holistic" approach built on Seven Pillars.
The Wells of Wealth System is a proprietary retirement income strategy that organizes assets into Liquid, Conservative, and Growth categories to protect against market volatility.
By organizing your wealth into three essential "Wells" (Liquid, Conservative, and Growth), you can create a "pension" for yourself that allows you to spend with confidence, regardless of what the stock market does next Monday.
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You’ve worked a lifetime to earn your money; you deserve a system to help you stay organized while you spend it. Don’t wait for the next down market to stress-test your retirement.
Ready to see where your income will come from?
To start your planning journey and get your free copy of 'The Wells of Wealth System' book, schedule a 20-minute strategy session with a certified Retirement Educator. These members of our team aren’t licensed to sell products or make investment recommendations — they’re here to help answer your questions, understand your priorities and concerns, and determine if we’re a good fit to work together. They’ll take down your information, and at the end of the call they’ll make sure your copy of “The Wells of Wealth System” gets dropped in the mail to you as soon as possible — we’ll cover the postage and everything.
The book isn’t the only thing you’ll get from this call. Your Retirement Educator will talk through the complimentary mini-plan you’ll receive if you qualify to work with one of our holistic planners. This mini-plan includes three customized reports specifically tailored to you and your needs.
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Not sure what to ask your Retirement Educator? Here are a few questions that can help you get oriented at the start of your planning journey:
Most people focus on the total balance of their 401(k). As you approach retirement, though, your focus should shift to cash flow. How much of your wealth is liquid and reliable (your future “Liquid” and "Conservative” wells), versus how much is subject to market swings that could disrupt your monthly income?
This is a "stress test" question. Your retirement educator can explain the "Sequence of Returns" risk — the danger of the market dropping right as you start taking withdrawals, leaving you behind for your entire retirement and in danger of outliving your money. They’ll explain the importance of a "buffer" to protect your lifestyle during a downturn.
Tax rates are not static. If the majority of your money is in a traditional 401(k) or IRA, you have a "lien" on your account held by the IRS. Ask the educator how you can balance your "Growth Well" with tax-advantaged accounts (like a Roth) to ensure you aren't losing 25–30% of your future spending power to taxes.
Social Security shouldn't be viewed in a vacuum; you have to look at your retirement holistically. The goal is to find the "sweet spot" where you maximize your lifetime benefits while using your private savings to fill the gaps efficiently. When you file can have other effects on your long-term plan as well, with the formula for survivor and spousal benefits taking the timing into account.
Pro Tip: Whenever you talk to a potential financial planning partner, listen for whether they give you a "one-size-fits-all" answer or if they ask follow-up questions about your specific goals. The best strategy is always the one most tailored to you and your needs, goals and dreams.
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Chapter 1, Got Risk? The 3 Biggest Reasons Why People Run Out of Money. Keep an eye out in March!
In the meantime...
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Bureau of Labor Statistics. (2023). Employee benefits in the United States – March 2023 (USDL-23-2022). U.S. Department of Labor.
Wiatrowski, W. J. (2011). The last private industry pension plans: A visual essay. Monthly Labor Review, U.S. Bureau of Labor Statistics.
Internal Revenue Service. (n.d.). History of 401(k) plans.
Young, A. S. (2016). The birth of the 401(k). Employee Benefit Research Institute (EBRI).
Pfau, W. D. (2017). Retirement income guidebook: Understanding the role of elective investments, annuities, and social security in a retirement income plan. Retirement Researcher Media.
Milevsky, M. A. (2006). The calculus of retirement income: Financial models for pension annuities and life insurance. Cambridge University Press.
Social Security Administration. (2024). The 2024 annual report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.
Vanguard. (2024). How America saves 2024. Vanguard Institutional Investor Group.
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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.