What if your retirement plan came without additional risk? Imagine continuing to earn a monthly income throughout your retirement. Join us as we sit down with financial advisor and Executive Producer of the award-winning film The Retirement Deception, Brendan Bayron, to explore his unique approach to retirement savings.
Play the game and you will be rewarded. For the last 50 years, that’s been Wall Street’s promise about retirement.
Americans have diligently adhered to the traditional strategies of investing: purchasing stocks, index funds, and bonds. Despite the risks, it’s all about increasing the value of their nest egg.
However, the retirement years that follow are far from a walk in the park. Maintaining a stable retirement becomes dependent on the unpredictable swings of the economy, turning wealth management into a full-time endeavor.
And for those unfortunate enough to see their investments fail? Returning to work might be their only option.
This widely accepted yet problematic retirement strategy is beginning to show cracks, prompting more people to scrutinize the traditional nest egg approach. The 2023 film The Retirement Deception has significantly contributed to this shift in perspective.
To uncover the misconceptions in retirement planning and explore what a new paradigm could look like, we spoke with Brendan Bayron, a financial advisor at Rise North Capital and one of the executive producers of the film The Retirement Deception.
“Ultimately, retirement is supposed to be the time you get to enjoy the fruits of your labor,” he says. “But to get that, most people are taking on lots of risk and managing accounts on a year-to-year basis. Many feel that having the big nest egg is better than having monthly income coming in. That’s the deception.”
There are ways to create a retirement plan that’s much more secure, but those options just aren’t being presented to people. Stocks, index funds, and bonds are presented as the only way to go.
Even those who are willing to take on the risk spend a great deal of their retirement worrying. They can only watch as the health of the economy dictates their financial security and quality of life.
Bayron looks back to a time when it wasn’t like this.
“If you look back to the seventies, pensions were prominent, even in private corporations,” he says. “People loved them because that was a guaranteed income they would get in retirement—no matter what. At some point in the eighties, it became 401(k)s. America moved away from pensions because companies had too much liability, having to pay out checks to every retiree, every month.”
The pension—as we once knew it—faded away. It gave way to a new game: grow the nest egg at all costs.
As time went by, it quickly became the non-negotiable, only way to retire.
“We should be asking how to create our own pensions,” Bayron says, “by utilizing a piece of Social Security and other assets to create a guaranteed monthly income stream. Anything else can still be in the market, but it’s not money you’re relying on month-to-month.”
At Rise North Capital, Bayron assists his clients in crafting retirement strategies aimed precisely at achieving this. His goal is for clients to spend their retirement enjoying the activities they love, rather than being burdened with managing a complex nest egg.
At 25 years old, Bayron is younger than your typical financial advisor. As he works—alongside other experts involved with The Retirement Deception—to change the way Americans approach retirement, he sees his youth as a huge asset.
“If you look at the statistics of this business,” he says, “the average advisor is 50 plus. The reality for most people is that their advisors are going to retire when they’re retired as well. Would you rather be sold off as a client to someone else or have someone see you through retirement?”
Bayron developed his financial acumen from a young age, learning the ropes early on.
“When I was in high school and was making just a little bit of money,” he recalls, “my Grandmother said she was going to tell me where to put it. I figured it would just be lunch and a chat. But she brought a full binder with all these articles and info on stocks, and we spent the whole afternoon going over it. She was like, ‘all right, I’m your financial advisor now.’”
Bayron’s Grandmother passed away just before the COVID pandemic, but her gift of sharing wealth management wisdom with others lives on through the financial advisor.
This passion shines through in his work on The Retirement Deception—which he says was a great way to blend his financial acumen, drive to educate soon-to-be retirees, and the creative art of filmmaking.
“I’ve been utilizing the film a lot with my clients,” he says, “and they keep coming back with more questions. It’s been a great conversation starter, and gets people to start searching for the retirement plan that meets their needs—rather than the one that seems like the only option available to them.”Bayron starts by learning what the client wants out of their retirement. From there, he develops the strategy and picks the money managers, products, and investments that will help make that dream retirement a reality.
“We are creating security through retirement plans,” he says, “that goes beyond what you’d get from the traditional nest egg. No matter what happens in the market, my clients will be able to count on consistent income.”
If you’re curious about what your retirement plan could look like, reach out to Brendan Bayron of Rise North Capital today.
