The Retirement Income Coach
Steve Selengut is the retirement income coach. He has a different approach to retirement income, so if you are nearing that age, listen up!
Summary of the Podcast
Retirement income coach
- Steve, Kevin, and Graham discuss retirement planning and investment strategies.
- Steve shares his approach of focusing on generating consistent income from a diversified portfolio of high-quality income-producing securities, rather than chasing market growth.
- He explains the benefits of this approach, including being able to sleep well at night regardless of market fluctuations.
Closed-end funds as investment vehicles
- Steve describes his use of closed-end funds as the core of his retirement income strategy.
- He highlights their advantages, such as consistent dividend payments, diversification, and professional management.
- Then he discusses how he vets and selects the funds to build a portfolio tailored to his clients’ needs.
Profit-taking and reinvestment
- Steve emphasises the importance of regularly taking profits on investments that have appreciated.
- This is rather than holding on in hopes of further gains.
- He explains how this allows him to reinvest at lower prices and grow his income stream over time.
- It’s a strategy that has provided a more stable and reliable source of retirement funds.
Challenges with traditional financial advice
- Steve critiques the traditional investment advice model
- That’s where financial advisors are incentivised to grow assets under management rather than focus on generating consistent income.
- He contrasts this with his approach of prioritising income and profit-taking to better serve his clients’ retirement needs.
Retirement income coaching business
- Steve discusses his transition from managing money for clients to now coaching and mentoring other financial professionals on his income-focused investment approach.
- He explains how he helps them implement his strategies and provide similar services to their own clients.
Potential impact on homelessness
- When asked about what change he would like to make in the world, Steve expresses a desire to see an end to homelessness.
- If he could he would use his wealth and influence to address this issue if he had the means to do so.
Recap and next steps
- The hosts, Graham and Kevin, summarise the key insights from the discussion and express their interest in learning more about Steve’s retirement income strategies.
- Kevin wanted to get his book “Retirement Money Secrets.”
Clips from the Podcast
The Whole Thing
Designed Portfolios
