Build A Successful Retirement Lifestyle With Powerful Planning
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By Tony Kalinowski, CFP®
March 19, 2025
For over 30 years, I’ve helped families navigate their financial futures, and the number one fear I hear from retirees is simple: Will I have enough?
It’s a valid concern, and new data suggests the answer for nearly half of Americans is no.
According to a study by the Employee Benefit Research Institute (EBRI), 45% of U.S. households risk running out of money in retirement. The risk is even greater for single women, 55% of whom are projected to deplete their savings. For single men, that number is 40%, and for couples, 41%. These numbers aren’t just statistics. They reveal a growing crisis that many Americans are not prepared to navigate.
Retirement security is not just about how much you save. It’s about how well you plan. Many people assume that working with a financial adviser means they’re getting the best guidance, but the truth is, not all advisers are required to put your interests first.
The Fiduciary Difference: Not All Advisers Are Created Equal
I’ve seen it too many times. A retiree works with a financial professional for years, assuming they’re receiving the best advice, only to realize their investments were structured in a way that primarily benefited the adviser, not them.
If a financial adviser offers fancy dinners, lavish offices, or big promises, be cautious. High overhead costs often mean higher fees and hidden commissions passed on to clients.
Too many retirees assume they are in good hands, only to realize their adviser was more focused on selling products than securing their future. Many advisers operate under a suitability standard, recommending products that are "suitable" but not necessarily the best fit. A fiduciary, however, is legally bound to act in the client’s best interest.
This is why I always tell people to work with a Certified Financial Planner™ (CFP®). CFP® professionals undergo rigorous education, adhere to strict ethical standards, and are fiduciaries by law. No hidden fees. No conflicts of interest.
According to the Certified Financial Planner Board of Standards, 84% of consumers who work with a CFP® professional report being extremely or very satisfied, and 71% feel more confident about their finances. That confidence ensures they have a plan they can trust, not just a collection of investments. Financial security isn’t just about numbers on a balance sheet. It’s about having the freedom to make choices that bring fulfillment in retirement.
Diversifying Retirement: Work With Purpose
For many retirees, stepping away from a lifelong career doesn’t mean they stop working entirely. Some do it for financial reasons, but many do it for purpose and structure.
A great friend of mine spent years in our industry and was highly successful. After retiring, he realized he still wanted to be active, so he took a part-time job at Lowe’s. It wasn’t about the paycheck. It was about staying engaged, maintaining a sense of purpose, and doing something he enjoyed. He loved hands-on home projects, making it a perfect fit.
This is a reality for many retirees. Some choose to consult in their former field, work in non-profits, or take on roles that align with their interests. Others find ways to diversify their income streams through investments, real estate, or part-time work. A great financial plan doesn’t just protect assets. It gives people the flexibility to do what they love without financial stress.
Three Steps to Take Now for a Secure Retirement
Find a Fiduciary Adviser
Work with someone legally required to act in your best interest. Ask how they are compensated and if they operate under a fiduciary standard.Know Your Retirement Risks
Assess your savings against expected expenses. Healthcare, longevity, and lifestyle choices all impact financial security.Schedule an Annual Financial Checkup
Just like a doctor’s visit, finances need a regular review. Plans should adjust as market conditions and personal goals evolve.
The Bottom Line
Retirement should be about freedom, not fear. Too many Americans are heading into their later years without a clear plan. My suggestion: Start planning now, work with a fiduciary, and take control of your financial future.
A strong retirement plan isn’t just about avoiding risk. It’s about creating opportunity. With a solid plan, retirement becomes a time of freedom, growth, and new possibilities.
About the Author
Tony Kalinowski is the President of RBF Wealth Advisors and Host of The Retirement Insiders Podcast. A Certified Financial Planner® (CFP®) with over 30 years of experience, Tony specializes in helping clients build wealth, navigate retirement, and create financial security.
He began his career with Smith Barney in 1987, later serving as Managing Director in the St. Louis market before joining RBF Wealth Advisors in 2010. He earned his CFP® certification in 2013, reinforcing his commitment to ethical and client-focused financial planning.
Beyond his work, Tony is actively involved in St. Louis Legacy Builders, Urban K-Life, ReThink315, and several other charitable organizations. He and his wife, Terri, enjoy discovering great wines, sunny beaches, and sharing time with family as well as friends.
Connect: Tony Kalinowski
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Podcast Producer: David Alexander