Turning Your IRA/401K into a Lifetime Pension: A Cardinal Guide


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In the world of retirement planning, one of the biggest fears retirees face is the dread of outliving their savings. With traditional pensions becoming a rarity, the security that once came with retirement seems to be a relic of the past. However, Hans Scheil and Tom Griffith of Cardinal guide you through transforming your lump-sum retirement savings into a steady, pension-like income stream, ensuring financial stability through your golden years.

The Disappearance of Pensions and the Rise of Personal Retirement Planning

Pensions provided our parents and grandparents with a sense of security, a guaranteed income for life that is becoming increasingly uncommon. Today, most retirees are left to manage their retirement savings, often accumulated in IRAs and 401Ks, navigating how to distribute these funds throughout their retirement without the risk of depletion.

Addressing the Fear of Running Out of Money

The concern of running out of money is paramount among retirees. Hans and Tom delve into strategies that mitigate this fear, focusing on safe withdrawal rates and the utilization of annuities to create a consistent income that you cannot outlive, whether you’re single or part of a couple.

Annuities: The Key to Creating a Personal Pension

The guide discusses the role of annuities in retirement planning, emphasizing how they can secure a stable income for life. By exploring different types of annuities and providing examples, Hans and Tom illustrate how retirees can use these financial instruments to mimic the reliable cash flow once offered by traditional pensions.

Customizing Your Retirement Plan

Understanding that everyone’s financial situation is unique, the guide outlines how to tailor these strategies to individual needs. Whether you have $300,000 or $900,000 in your retirement account, the principles discussed can be adapted to fit your specific circumstances, ensuring your retirement funds are optimized to provide a lifelong income.

Ensuring a Secure Financial Future

Beyond just surviving retirement, the goal is to thrive. Hans and Tom stress the importance of integrating these strategies into a broader financial plan, taking into consideration factors such as taxes, estate planning, and the psychological aspects of spending down retirement savings.

A Guide Tailored to Your Retirement Needs

This blog serves as a comprehensive manual for those navigating the complexities of retirement planning. With detailed insights, practical examples, and a focus on creating a secure, pension-like income, Hans and Tom offer a roadmap for achieving a worry-free retirement.


We invite you to dive deeper into the strategies and examples discussed by downloading the show notes or reaching out for a personalized consultation. Whether you’re nearing retirement or planning for the future, it’s never too early or too late to explore how to secure your financial wellbeing in retirement.

Remember, planning for retirement is about ensuring peace of mind and financial security. Let Hans Scheil and Tom Griffith guide you through the process, transforming your retirement savings into the steady income you deserve.


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