Protecting Your Assets with Steve Shyman
Oct 9, 2026 · 51 min · 34 segments
In this episode, Steve Shyman from WilSave Financial discusses essential retirement planning strategies. These strategies include the four percent rule, Roth conversions, and managing cash reserves…
Steve ScheinmanHost
Morgan PatrickHost
Uh, and any time of year, it's, it's a perfect time to talk about just the importance of being proactive, having a plan in place, and we get into a lot of different topics, and the 4% rule is something that we-
... because now that you said that, you remind me, a client came in yesterday-
And, uh, they've got some safe money with me and quite a bit of risk money with another advisor.
And the husband, he's 77, and the wife is about five years younger, and, uh, he's got a lot of money in the market.
And he says to me, "Steve, what do you think about the market?" And I said, "Well, it's been going up.
We h- hope it keeps going up and we hope it doesn't go down." And he says, "That's exactly my plan, Steve.
I hope it keeps going up." And I said to him, "Well, you know what? Hope, it's not a plan."
I said, "At your age, if you lose a boatload of money, you simply just don't have the time to make it back." And in the meeting, they were bringing up a lot of concerns like, "Well, what about long-term care? What are we-
... gonna do if one of us gets sick?" And I said to him, "Well, you know, you've got to have plans for these things.
And just having the money at the Wall Street casino table and just hoping it keeps on going up, it doesn't turn south, is not a plan for retirement success." In fact, my dad, who was so good at investing his whole life long, um, he got overzealous in the last five years of his life, and before the tech bubble burst in 2000, he went all in in a big way, and when that happened, he lost 90% of his life savings.
And you know, Morgan, at, at some of my seminars, I'll raise my hand, like, "Who thinks..." I'll, I'll ask a question.
I'll ask people to raise their hand, like, "Who thinks the market's gonna keep on going up?" And very few people raise their hand.
"And how many people think that the market's, uh, in store for a big correction?" And everybody, let's say 80% of the room, raises their hand.
I said, "Let's just say that all of a sudden we lost 50% in the market again.
Uh, and any time of year, it's, it's a perfect time to talk about just the importance of being proactive, having a plan in place, and we get into a lot of different topics, and the 4% rule is something that we-
... because now that you said that, you remind me, a client came in yesterday-
And, uh, they've got some safe money with me and quite a bit of risk money with another advisor.
And the husband, he's 77, and the wife is about five years younger, and, uh, he's got a lot of money in the market.
And he says to me, "Steve, what do you think about the market?" And I said, "Well, it's been going up.
We h- hope it keeps going up and we hope it doesn't go down." And he says, "That's exactly my plan, Steve.
I hope it keeps going up." And I said to him, "Well, you know what? Hope, it's not a plan."
I said, "At your age, if you lose a boatload of money, you simply just don't have the time to make it back." And in the meeting, they were bringing up a lot of concerns like, "Well, what about long-term care? What are we-
... gonna do if one of us gets sick?" And I said to him, "Well, you know, you've got to have plans for these things.
And just having the money at the Wall Street casino table and just hoping it keeps on going up, it doesn't turn south, is not a plan for retirement success." In fact, my dad, who was so good at investing his whole life long, um, he got overzealous in the last five years of his life, and before the tech bubble burst in 2000, he went all in in a big way, and when that happened, he lost 90% of his life savings.
And you know, Morgan, at, at some of my seminars, I'll raise my hand, like, "Who thinks..." I'll, I'll ask a question.
I'll ask people to raise their hand, like, "Who thinks the market's gonna keep on going up?" And very few people raise their hand.
"And how many people think that the market's, uh, in store for a big correction?" And everybody, let's say 80% of the room, raises their hand.
I said, "Let's just say that all of a sudden we lost 50% in the market again.
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