Retirement Strategies – Ideas By Mike™ Podcast

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Conversation with Tom Hegna: Proven Formula for Retirement Income, Wealth & Peace of Mind (Ep. 32)

By Ideas by Mike | September 5, 2025

Tom Hegna retirement income strategies are some of the most researched, proven methods to retire with security, peace of mind, and lasting wealth. In this episode of the Ideas by Mike™ Podcast, Mike Milligan, CFP®, sits down with Tom Hegna—renowned author of Paychecks and Playchecks and Don’t Worry, Retire Happy—to uncover his formula for creating guaranteed lifetime income, reducing taxes, and protecting family wealth. #TomHegna #RetirementIncomeStrategies #ideasbymike

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👤 About Our Guest: Tom Hegna

Tom Hegna is a world-renowned retirement income expert, economist, and author widely known as the “Retirement Income Guru.” With decades of experience as a financial industry executive, retirement strategist, and keynote speaker, Tom has helped thousands of individuals and advisors understand how to retire happy and secure.

👉 Follow Tom Hegna:

YouTube – https://www.youtube.com/@UCZLVr1-144LsPDrWR1cyqWQ

LinkedIn – https://www.linkedin.com/in/tomhegna/

Website – https://tomhegna.com/

💡 In this Episode 32, you’ll learn how to:

– Why annuities must play a foundational role in retirement income.

– The truth about fake fiduciaries—and how to spot them.

– Strategies for Roth conversions and cash value life insurance.

– How to build a wealth floor with life insurance for your family.

– Why guaranteed income leads to happier, longer retirements.

– How to prepare for the long-term care crisis with hybrid solutions.

– The balance between short-term liquidity and long-term stability.

This conversation with Tom Hegna is packed with insights that every retiree and pre-retiree should hear. This conversation is a masterclass in building a plan that actually works—covering income, taxes, legacy, investments, and healthcare.

📖 Episode Chapters:

00:00 – Tom Hegna Retirement Income Strategies (Intro)

02:22 – Tom’s Journey into Financial Services

06:02 – From New York Life to Bestselling Author

07:19 – Golf Lessons & Financial Planning

09:49 – What Are Fake Fiduciaries?

11:28 – Hybrid Retirement: Redefining Work-Life Balance

14:10 – The Rising Tax Problem & Roth Conversions

16:19 – Life Insurance & Roth for Tax-Free Income

17:45 – The Coming Long-Term Care Crisis

19:21 – Annuities Myths vs. Reality

20:57 – How to Decide if Annuities Fit Your Plan

22:59 – Safe Withdrawal Rate vs. Lifetime Guarantees

24:14 – Building a Wealth Floor with Life Insurance

25:56 – Creating a Comprehensive Financial Plan

27:38 – Short-Term vs. Long-Term Balance in Retirement

28:53 – Which Tom Hegna Book to Start With

**We’d love to hear your thoughts! Subscribe for more Tom Hegna retirement income strategies, proven tax tips, and financial planning insights that help you build wealth and peace of mind.**

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Resources:
Tax Incentive Programs For Wealth Building You Probably Didn’t Know Of | (Ep. 31)

Connect with Mike Milligan, CFP®:

Do you have any financial inquiries you need answered?
Send us an email – mike@mikemilligancfp.com
Or Call/Text “PODCAST” to (757) 909-7151

Intro and Outro Music: “Podcast Interview Background Music” by Ievgen Poltavskyi (HitsLab) via Pixabay

#ideasbymike #moneymanagementpodcast #wealthbuilding #retirementplanning #financialplanningpodcast #careerjourneypodcast #clientservices #worklifebalance #impactfulcareers #personalizedfinance #communityengagement #financialliteracypodcast #podcast #podcastforfinancialliteracy #financialmanagementpodcast #financialplanningguide #financialliteracymatters #financialtips #financialhelp #financialstrategies #socialsecuritytips #federalbenefitsconsultant #cfp #TomHegna #RetirementIncomeStrategies #ideasbymike

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How to Live a One-of-a-Kind Life (Ep.21)

By Ideas by Mike™ | March 19, 2025

Ever faced a mountain and thought, “I can’t do this?” This episode serves as a way to combat this thought.

As the calendar turns to 2025, Mike Milligan recounts an incredible journey to Peru’s Rainbow Mountain and draws parallels to the journey of retirement planning. Learn how each individual step, supported by a trusted guide, can lead you to breathtaking highs in your financial life.

Mike shares the importance of personalized financial planning, exploring the value of having an experienced guide in crafting your unique financial path. With stories of breathtaking adventures and overcoming limits, he ties these experiences back to helping you achieve the retirement of your dreams.

Key discussion points include:

The significance of taking small, consistent steps in retirement planning (10:00)
Understanding how personalized plans can lead to unique financial experiences (14:59)
Get to know the team behind Ideas By Mike™ and how they contribute to crafting individualized plans (16:30)
The power of asking “What makes you one of a kind?” in developing a personal financial strategy (19:00)
And more!