Think Your Retirement Is Safe? Watch This First.

In this episode of the FMI Podcast, financial advisor Marlana Lancaster and founder David Elmore explore what it really means to retire well. They discuss why retirement requires purpose beyond work, common mistakes people make with 401(k)s, how to create sustainable income from retirement savings, and the hidden tax traps that can devastate long‑term plans. The conversation also covers Social Security taxation, withdrawal strategies, estate planning, the financial impact of helping children and grandchildren, managing fear and market volatility, and why thoughtful planning is essential as people live longer and retirement years stretch further than ever before.0:00 – What Retirement Really Means0:45 – The Importance of Purpose After Retirement2:29 – Baby Boomers and the Retirement Wave3:14 – What to Do With Your 401(k) at Retirement3:58 – Why Cashing Out a 401(k) Is a Major Mistake4:34 – Rolling a 401(k) Into an IRA Explained6:14 – Creating Retirement Income Without Running Out7:18 – The 5% Income Rule in Retirement7:46 – Taxes and Social Security in Retirement9:10 – Using Multiple “Buckets” of Retirement Money10:24 – What Is Bracket Creep?11:55 – Estate Planning and Updating Beneficiaries13:42 – How Children and Grandchildren Can Impact Retirement15:27 – Travel, Lifestyle Choices, and Budgeting in Retirement16:48 – Fear, Market Volatility, and Protecting Your Money18:18 – Inflation and the Risk of Sitting in Cash19:41 – Why a Written Financial Plan Matters20:25 – Living Longer and Planning for 30+ Years of Retirement