Welcome to another episode of the Stay Wealthy Retirement Show. I'm your host Taylor Schulte,

and every week I tackle the most important financial topics to help you stay wealthy in retirement.

And now on to the episode.

Hey everyone. Recently, I had the pleasure of joining my good friend and fellow financial planner

Adam Schmela on his podcast, 2020 Money. While Adam specializes in retirement planning for

private practice optometry owners, hence the name of a show, 2020 Money, what we covered is relevant

to anyone approaching retirement or already living it. We dive into how retiring can trigger a genuine grieving process,

why responsibility and community often matter more than money,

and how to think differently about Monte Carlo simulations,

taxes, and cash management in retirement.

So if you're already retired or thinking about retiring in the next decade,

this conversation will challenge common assumptions and give you a helpful perspective on this

major life transition. Without further ado, here is my conversation with Adam Schmela.

So when I say biggest blind spots that you as a retirement focused advisor have seen,

is there anything that is, whether it be a specific action that somebody takes or even just a

theme, what comes to mind?

So I had the pleasure of chatting with Nick Majuli yesterday. I had Nick Majuli on my podcast, had a long conversation with him. For those who don't know Nick, he writes at of dollars and data.com. He is a data nerd in the personal finance world. He wrote the book Just Keep Buying, which is phenomenal. And he's got a new book coming out, coming out called The Wealth Ladder.

It'll be out by the time this episode publishes.

So go check it out if you like any part of today's conversation.

But I bring him up because I got a sneak peek of his book.

And there's a quote in there that I want to read from President Richard Nixon.

I think the quote is from like 1970, 1972.

...