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Give Every Asset A Job

In this episode of the Retirement Transition Podcast, host and retirement planning specialist, Carl Woolston, addresses the challenges and misconceptions faced by individuals preparing for retirement. This episode highlights the importance of giving every asset a specific job in retirement planning, moving beyond the single-minded goal of asset growth. Carl discusses a process called the Retirement Transition Blueprint, which aims to help retirees navigate the transition successfully. He discusses the seven crucial jobs for retirement assets, emphasizing that a well-thought-out approach can ensure financial security, a fulfilling lifestyle, and peace of mind during retirement.

This article summarizes much of the discussion. Listen to the audio for the complete show.



  • Protecting assets from catastrophic losses is crucial, especially for funds needed in the early years of retirement.
  • This job involves setting up a safety net to guard against significant market downturns right before retirement.


  • Generating reliable income sources is essential for financial stability in retirement.
  • This includes optimizing Social Security decisions, deciding how to withdraw from 401(k)s and IRAs, and considering additional income streams like part-time work or rental properties.


  • Budgeting for enjoyable activities and experiences is essential during the initial “go-go” years of retirement.
  • Planning for these experiences requires careful financial consideration to avoid depleting other essential funds.


  • While the primary goal may no longer be growth, continuing to invest and grow assets not needed for at least a decade remains important.
  • Understanding market volatility and having a long-term perspective is key to successfully growing assets during retirement.

Extended Healthcare:

  • Planning for potential healthcare needs is essential, whether through dedicated funds or long-term care insurance.
  • Budgeting for healthcare expenses and understanding different care scenarios can help prevent financial strain during retirement.


  • Legacy planning involves determining which assets, if any, will be passed on to loved ones and how to optimize this process.
  • It’s also about considering creative ways to enjoy and share the legacy during your lifetime, such as family vacations or experiences.


  • Managing retirement taxes is crucial for maximizing the value of your assets.
  • Strategies like Roth IRA conversions, timing decisions, and understanding how different assets are taxed play a significant role in minimizing the lifetime retirement tax bill.


To ensure a smooth transition into retirement, take action now:

Consult a retirement planning specialist who can guide you in giving every asset a specific role. By taking these steps, you can safeguard your financial future, enjoy a fulfilling retirement, and minimize stress about market fluctuations. To get started, visit the Thrive Retirement Planning website  to schedule a consultation and begin your journey to a secure and enjoyable retirement.