Retirement Done Right w/ David & Pat

David Rath, CMT, CFA & Patrick Kalish, CFP®
  • 5.0 (1)
  • Investing
  • Updated Weekly

Retirement Done Right is the podcast for smart, proactive retirees and pre-retirees who want to maximize their wealth, time, and lifestyle. Hosted by David Rath, CMT, CFA and Patrick Kalish, CFP® from Continuum Wealth Advisors, LLC, this show dives deep into retirement planning, investing, Social Security strategies, tax-efficient withdrawals, healthcare costs, and more—so you can retire with confidence. Each episode delivers practical financial strategies, expert insights, and real-world advice to help you navigate the transition from career to retirement without stress. Whether you’re wondering how to create a reliable retirement paycheck, optimize your investments, or make the most of your golden years, Retirement Done Right has you covered. 🔹 New episodes every other week 🔹 Subscribe now to stay ahead on the latest retirement strategies🔹 Leave a review to help others find the show! Retirement isn’t the end—it’s just the beginning. Let’s make sure you do it right.

  1. 4d ago

    Retirement Cash Strategy: How Much to Hold and Where to Put It

    How much cash should you keep in retirement? Most retirees hold too much, or hold it in the wrong place, and quietly lose money to inflation and taxes. In this episode of Retirement Done Right, David Rath, CFA, CMT and Pat Kalish, CFP break down how much cash retirees actually need, where to keep it, and how the interest you earn on it can push up your tax bill.  In this episode you'll learn:  - The rule of thumb for cash: 3–6 months for pre-retirees, 12–24 months for retirees, and why most people think in round numbers instead. - Why cash is one of the few "investments" almost guaranteed to lose purchasing power  - How Social Security and pensions reduce the amount of cash you need  - Where to keep cash: checking vs. high-yield savings vs. CDs vs. money market funds vs. Treasury bills  - Why T-bill interest is exempt from state and local income tax  - How taxable interest can increase Social Security taxation and trigger Medicare IRMAA surcharges  - Using a home equity line of credit (HELOC) as a backup emergency fund  - A simple 5-step cash review you can do this year  QUICK ANSWERS  How much cash should a retiree keep? A common guideline is 12–24 months of expenses, but the right amount depends on how much of your income is guaranteed (Social Security, pensions) versus coming from your portfolio, and how much cash you need to sleep at night.  Where should retirees keep their cash? Keep a minimal amount in checking for bills, your emergency fund in a high-yield savings or money market account, and money for known expenses 6–12 months out in CDs or Treasury bills.  Is interest on cash taxed? Yes. Bank and money market interest is taxed as ordinary income, which can raise your bracket, make more of your Social Security taxable, and increase Medicare premiums. Treasury bill interest is federally taxable but exempt from state and local tax.  CHAPTERS  00:00 Welcome back, Pat  01:13 How much cash should a retiree keep? Rules of thumb  02:27 Pros and cons of holding cash (the inflation problem)  04:20 The "head on a pillow" strategy  05:31 How Social Security and pensions change your cash needs  08:19 Why cash decisions can't be made in a silo  10:41 Where to hold cash now that it pays interest  13:51 Checking vs. high-yield savings vs. emergency fund  14:54 Treasury bills: state tax benefits and price fluctuation  17:09 Online banks vs. brick-and-mortar banks  18:45 Hidden fees and withdrawal limits on savings accounts  19:55 Taxes on cash interest: Social Security, IRMAA, Roth conversions  22:17 Using a HELOC as a safety net  25:40 Give every dollar of cash a job  26:22 Your 5-step retirement cash checkup  🌐 Learn more: https://contwealth.com  ABOUT THE HOSTS David Rath, CFA, CMT is CIO at Continuum Wealth Advisors. Pat Kalish, CFP is a financial planner at Continuum. Continuum is a fee-based fiduciary RIA in Saratoga Springs, NY, helping people within a few years of retirement make it work.  Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

  2. Sep 15

    Breaking Down The Bond Market News

    The Treasury Department wants long-term interest rates lower. The Federal Reserve appears headed toward higher short-term rates to fight inflation. That tension has real consequences for retirement portfolios. In our latest commentary, Continuum Wealth Advisors breaks down what the Treasury's long-dated bond purchases and Fed Chair Kevin Warsh's Jackson Hole remarks could mean for bond investors — plus why rising federal interest costs (nearly 20% of tax revenue) are shaping the conversation. As a fee-based fiduciary RIA in Saratoga Springs, NY, we help retirees and pre-retirees understand how shifts like these affect their income plan. Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

  3. Sep 15

    The Fed's Decision That May Impact Your Retirement

    A few weeks back we walked through a Treasury Department announcement about increased bond purchases and what it might be signaling. This is the follow-up — and the story has moved in a direction worth sitting with. The Treasury raised its stated purchases again, and this time the bond market didn't like it. Where the first increase was taken as a sign of willingness to support the market, the second seems to have been read as something closer to necessity. Yields have climbed to levels not seen since 2007, which is a comparison nobody makes casually, though we want to be clear we aren't predicting a repeat of what followed that year. The detail we keep returning to isn't the purchase figure at all. Incremental increases are small against the size of the bond market. What matters more is the roughly $1 trillion reportedly sitting in the Treasury's general account and available if needed — the difference between a signal and an actual capability. Meanwhile, rising yields serve as a live test of whether the stated willingness to buy is genuine. From there we step back, and this is where the conversation becomes useful well beyond the news cycle. From 1981 to 2021, exactly forty years, bonds were in a sustained bull market that carried rates from double digits down to near zero — and in parts of the world, below zero, where investors effectively paid for the privilege of lending. Anyone whose adult financial life took shape inside that window absorbed a particular sense of what normal looks like. Rates bottomed five years ago, and the direction since has been the opposite. We stop short of declaring a long-term bear market in bonds, but the evidence is accumulating. We also work through something many investors find genuinely confusing: how the Federal Reserve and the Treasury can end up pulling opposite ends of the same yield curve in opposite directions, since one influences long maturities and the other sets short-term rates. We close on perspective, which is really the point of the whole discussion. You won't remember any particular market day twenty years from now. What determines outcomes over time is portfolio structure and major trends, not individual announcements — which is why we diversify across investment styles rather than just investments, and why we treat uncertainty as a permanent feature to build around rather than a temporary condition to wait out. We prepare and react. We don't predict. Resources: Visit contwealth.com for more articles, guides, and tools to help you build a confident retirement. Disclaimer: The information provided is for educational and informational purposes only and does not constitute investment advice and should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor. Continuum Wealth Advisors, LLC ("Continuum") is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure. Past performance is not indicative of future results. All investments involve risk, including the potential loss of principal. Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

  4. Aug 3

    The Shift From Saving To Spending

    In this episode of Retirement Done Right, hosts David Rath and Pat Kalish explore a powerful quote from a real retiree: "The first year was terrifying—worrying about running out of money and what I was going to be doing with my life. But I've settled in nicely, year three." This episode unpacks the two biggest challenges retirees face: the financial fear of running out of money and the emotional struggle of losing your identity. In this episode, we cover: • Why retirement anxiety hits even financial professionals who "know" they have enough • How to shift from thinking about assets to thinking about income (and why it matters) • The importance of creating a structured retirement paycheck • Why you need to retire to something, not from something • The hidden threat of sequence of return risk in your early retirement years • The most common regret: "I wish I did it sooner" Whether you're years away from retirement or already there, this episode will help you understand the emotional and financial transition—and how to navigate it with confidence. Resources: Visit contwealth.com for more articles, guides, and tools to help you build a confident retirement. Disclaimer: The information provided is for educational and informational purposes only and does not constitute investment advice. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor. Continuum Wealth Advisors, LLC is a registered investment advisor. Past performance is not indicative of future results. All investments involve risk, including the potential loss of principal. Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

  5. Jun 23

    The Biggest Mistakes Retirees Make (And How to Avoid Them)

    The biggest mistake retirees make? Not having a tax plan. By not having an appropriate tax strategy, it could cost you hundreds of thousands of dollars over a 30-year retirement. From an investment standpoint, complacency is the enemy—being a buy-and-hold investor is easy during a bull market, but try it when the market's down 35%. The early years of retirement create a window for Roth conversions and 0% capital gains that many miss. Have a plan before things go south. Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

  6. May 26

    Does Retirement Mean A New Financial Advisor?

    In this episode of Retirement Done Right, hosts David Rath and Pat Kalish tackle a question most people don't think to ask: Should you change your financial advisor when you retire? The skills that helped you accumulate wealth—growing your nest egg, making deposits, riding out market ups and downs—are not the same skills needed to safely generate a retirement paycheck, minimize taxes, and coordinate Social Security and Medicare. In this episode, we cover: • Why the "descent" (decumulation) is more dangerous than the "ascent" (accumulation)—and what that means for your money • The critical questions every retiree should ask their advisor (and the red flags to watch for) • Why tax strategy is an investment, not just a cost—and how to avoid surprise tax bills • The devastating impact of sequence of return risk on a retirement portfolio • Why coordination between your advisor and CPA is essential (and what happens when it's missing) Whether you're years away from retirement or already there, this episode will help you evaluate whether your current advisor is truly equipped to guide you through the next phase of your financial life. Resources: Visit contwealth.com for more articles, guides, and tools to help you build a confident retirement. Disclaimer: The information provided is for educational and informational purposes only and does not constitute investment advice. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor. Continuum Wealth Advisors, LLC is a registered investment advisor. Past performance is not indicative of future results. All investments involve risk, including the potential loss of principal. Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

  7. Mar 27

    Market Volatility & Your Retirement

    5 Key Takeaways: Everything Is Connected: Oil prices, interest rates, gold, and stocks don't move in isolation. Understanding how they interact (intermarket analysis) is essential for navigating volatile periods.Don't Let Headlines Drive Decisions: Emotional reactions to breaking news are the fastest way to make costly investment mistakes. Have a plan before markets get rocky.Gold Isn't a Simple Inflation Hedge: In the short term, rising interest rates increase the opportunity cost of holding gold (a zero-yield asset), which can pressure prices even during inflationary times.Risk Is Unavoidable—But Manageable: You can't eliminate risk, only transform it. A 60/40 portfolio still lost over 35% in 2008. A proactive risk management strategy aims to limit drawdowns so retirees don't have to cut spending during downturns.Prepare, Don't Panic: The best time to review your risk tolerance and portfolio structure is beforevolatility hits. Once markets are in turmoil, stick to your process and avoid making emotional changes.Disclosure: The information provided is for educational and informational purposes only and does not constitute investment advice and should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor. Continuum Wealth Advisors, LLC ("Continuum") is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure. Past performance is not indicative of future results. All investments involve risk, including the potential loss of principal. Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

  8. Mar 13

    Can AI Replace Financial Advisors & Portfolio Managers?

    Q1: Can AI tools like ChatGPT or Gemini build a better retirement portfolio than a human advisor? A1: Not yet. While AI can generate a solid, textbook 60/40 portfolio using low-cost Vanguard funds, it lacks the ability to understand your personal situation, ask follow-up questions, or provide the ongoing guidance needed during market stress. Q2: What happened when you asked four different AI models to build a portfolio for a 62-year-old retiree? A2: The results were surprisingly similar—all recommended broadly diversified portfolios of 50-60% stocks and 40-50% bonds, with a strong bias toward Vanguard index funds. The differences were minor, like whether to include a small allocation to emerging markets. Q3: What are the biggest risks of relying on AI for investment advice? A3: AI can't ask clarifying questions about your risk tolerance, tax situation, or life goals. It also has a high error rate in multi-step processes—one study found AI was incorrect 85% of the time in complex scenarios. Trusting your life savings to a tool that misattributes quotes is risky at best. 5 Key Takeaways: AI Gives Textbook Answers, Not Personalized Plans: Every model produced a standard 60/40 portfolio using Vanguard ETFs—a fine starting point, but not tailored to anyone's unique financial life.The Human Element Matters: A computer can't ask why you panicked in 2008 or how market volatility feels when you're actually taking distributions. Those conversations shape truly appropriate portfolios.Risk Tolerance Is More Than a Multiple-Choice Question: True risk assessment comes from understanding your behavior during past market stress—something AI simply cannot replicate.AI Hallucinates—A Lot: In multi-step processes, AI tools can be wrong up to 85% of the time. Even simple tasks like sourcing quotes required double-checking. Your retirement isn't worth that gamble.Coordination Is Key: Investing is just one piece of the puzzle. A human advisor coordinates your portfolio with tax planning, Social Security, Medicare, and distribution strategies—all of which AI ignores.Follow Us YouTubeLinkedInOur Home Base Continuum Wealth AdvisorsDisclosure The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.  Continuum Wealth Advisors, LLC (“Continuum”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Continuum and its representatives are properly licensed or exempt from licensure.

See All (25)

Ratings & Reviews

About

Retirement Done Right is the podcast for smart, proactive retirees and pre-retirees who want to maximize their wealth, time, and lifestyle. Hosted by David Rath, CMT, CFA and Patrick Kalish, CFP® from Continuum Wealth Advisors, LLC, this show dives deep into retirement planning, investing, Social Security strategies, tax-efficient withdrawals, healthcare costs, and more—so you can retire with confidence. Each episode delivers practical financial strategies, expert insights, and real-world advice to help you navigate the transition from career to retirement without stress. Whether you’re wondering how to create a reliable retirement paycheck, optimize your investments, or make the most of your golden years, Retirement Done Right has you covered. 🔹 New episodes every other week 🔹 Subscribe now to stay ahead on the latest retirement strategies🔹 Leave a review to help others find the show! Retirement isn’t the end—it’s just the beginning. Let’s make sure you do it right.

Information

  • Creator
    David Rath, CMT, CFA & Patrick Kalish, CFP®
  • Years Active
    2023 - 2026
  • Episodes
    25
  • Rating
    Clean
  • Copyright
    © 2026 Retirement Done Right w/ David & Pat
  • Show Website
    Retirement Done Right w/ David & Pat