How to Build a Retirement Plan That Lasts with Bruce Elfenbein

What does it really take to retire with confidence?

In this episode of the South Florida Leaders Podcast with Brian Fay, Brian sits down with Bruce Elfenbein, a Certified Financial Fiduciary and owner of The Retirement Company in Hollywood, Florida.

Bruce explains why retirement planning is about much more than saving money. You also need to protect what you have built and create income that can support the life you want to live.

Bruce breaks retirement into three stages: the “go-go years,” the “slow-go years,” and the “no-go years.” Each stage can bring different financial needs, which is why planning ahead matters.

Brian and Bruce also discuss the difference between simply choosing a suitable financial product and working under a best-interest standard. Bruce explains why understanding fees, risk, taxes, inflation, Medicare costs, and other financial factors can make a big difference over time.

For business owners, Bruce shares another important lesson: before focusing only on building more wealth, make sure the wealth and business you already have are protected.

One of Bruce’s biggest messages is simple: start planning as early as you can. Time and compound interest can be powerful tools. But if you are getting a late start, Bruce says that does not mean you should give up. The best time to start may simply be today.

The conversation also explores what Bruce calls the “secret sauce” of retirement: guaranteed income. When reliable income can meet or exceed the cost of your lifestyle, retirement can become much easier to manage.

Bruce also discusses Social Security, pensions, annuities, retirement accounts, investing in the market, managing risk as you get older, and why retirement strategies should change as you move through different stages of life.