506: The Surplus Bucket Strategy: A Way to Spend More Confidently in Retirement
Retire With Purpose - The Retirement Podcast
Casey Weade
4.7 • 556 Ratings
🗓️ 20 June 2025
⏱️ 23 minutes
🧾️ Download transcript
Summary
If you're like many retirees we meet with, you may struggle to spend confidently in retirement, even when you've saved enough. Here, we explore a potential strategy: an alternative to the annuity-based "License to Spend" model.
In this episode, we discuss:
- The dynamics of underspending in retirement
- How to apply the "Funded Status Metric" and "Surplus Bucket" to your income plan
- Pros and cons of leveraging this strategy
- A refresher of the "Funded Ratio"
- How to find an income strategy that aligns with your values
Today's article is from Advisor Perspectives titled, Use the Funded Status Metric & A 'Surplus Bucket' to Increase Spending in Retirement. Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation.
Show Notes: HowardBailey.com/506
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ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process
Transcript
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| 0:00.0 | So you want to spend with confidence in retirement, but you don't want a guaranteed income annuity. |
| 0:06.2 | Today we discuss a new strategy you probably haven't considered. |
| 0:18.7 | Hey, this is Casey and welcome to the podcast where it is my mission and deliver clarity and purpose and elevate meaning in your life. |
| 0:25.7 | And you're going, wait a second, I thought this was a retirement podcast. |
| 0:29.0 | Well, it is. |
| 0:30.1 | We cover both the financial and non-financial here on Retire with Purpose. |
| 0:34.4 | If you're new to the show, I just want you to know what to expect, what to look out for. If you're really focused in on those non-financial conversations, |
| 0:41.6 | then I encourage you to look at those episodes released every other Friday with the title |
| 0:46.0 | Freedom After 50 with our very own certified retirement coach. Les McDaniel, we really focus in |
| 0:51.5 | on the non-financial. And then every Friday in between, I get together |
| 0:55.3 | with a fellow certified financial planner practitioner and close friend of mine, Marshall Johnson, |
| 1:00.4 | where we discuss more of those financial and sometimes relatively technical topics, which we're |
| 1:06.3 | going to be covering today. And a lot of these topics of discussion on Friday, they come from our weekend |
| 1:11.5 | reading for retirees email series. So every single Friday, I curate an email. It goes out every |
| 1:16.6 | Friday. And there's four articles in there on trending topics that could impact your well-being |
| 1:21.1 | in retirement, both financial, non-financial. Then we like to select one of those and take a deeper |
| 1:26.2 | dive and kind of deconstruct that for you today. |
| 1:29.5 | When you are a weekend reading subscriber, not only do you get my summaries, takeaways, those articles, but you'll also receive all other kinds of goodies in that weekly email, podcast takeaways, white paper giveaways, book giveaways, and more. |
| 1:42.5 | Get yourself signed up by just simply texting |
| 1:45.4 | us the key letters, W.R. to 888-599-4491. We'll send you a link so that you can get |
| 1:53.2 | signed up for that weekend reading email. And if you've never signed up before, we'll also send you a |
| 2:00.2 | free digital copy of my |
... |
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