Your Money Has No Job: Why “Good Enough” Portfolios Still Fail in Retirement

Most people think they have a retirement plan. In reality, they have a collection of accounts—investments, tax-deferred savings, and disconnected decisions that were never designed to work together. In this episode of Cover Your Assets, Logan Marcus and Don Spini break down the difference between having a portfolio and having a plan—and why that gap becomes expensive over time. They explain how money without a defined purpose underperforms, why lack of coordination between investments, taxes, income, and estate planning creates hidden inefficiencies, and how those gaps can quietly cost more than any visible fee. They also address one of the most overlooked risks: the absence of a true income strategy. Selling investments when you need cash is not a plan—it is reactive, market-dependent, and exposes you to risks most investors never see. Because if everything is not working together, you do not have a plan—you have pieces.