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I was watching the newest season of Penn & Teller: Fool Us the other night. If you haven’t seen it, the premise is simple: magicians perform an act, and if they can fool Penn & Teller—two guys who have seen everything—they win the coveted FU Trophy and bragging rights for life.
It’s a great show because it reminds you of something important:
Some things look like magic… until you know how they’re done.
And while I was watching a performer pull off some seemingly impossible trick, I couldn’t help thinking about the “financial magic acts” I see all over social media lately.
You know the ones.
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“Do a Roth conversion and NEVER pay taxes again!”
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“Guaranteed retirement income with an IUL — no risk!”
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“Here’s a one-page retirement plan. Done in 5 minutes!”
It’s like scrolling through a never-ending talent show of financial illusions.
And I’ll admit: some of them are really
good at what they do.
But just like on Fool Us, the question isn’t “Is it impressive?”
The question is “What’s actually happening here?”
The Social Media “FU Trophy” of Finance
Let’s be fair: short videos and bold claims are built for attention. Social platforms reward the punchline, not the process. Nobody goes viral for saying:
“Well, it depends. Let’s look at your tax brackets, future income, Medicare IRMAA thresholds, estate goals, liquidity needs, and sequence-of-returns risk.”
And yet… that’s the truth.
Because the real world of retirement planning is less like a 30-second magic trick and more like rehearsing a full show. The “wow” moment is still there—if the setup is right.
Roth Conversions Aren’t Magic. They’re Math + Timing + You.
Roth conversions can be incredibly powerful. Done well, they may:
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reduce lifetime tax burden
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help manage future required distributions
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create more flexibility for spending
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improve estate outcomes for heirs
But the internet version often goes like this:
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Convert everything.
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Pay no taxes.
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Ride off into the sunset.
That’s… not how taxes work.
In real life, Roth conversions require planning around things like:
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your current and expected future tax rates
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how much “room” you have in a bracket this year
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Social Security timing
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Medicare premium cliffs
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charitable giving strategies
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large one-time income events
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portfolio allocation and cash flow needs
The same conversion that’s brilliant for one person can backfire for another.
Roth conversions aren’t a commodity.
They’re a custom fit.
If TikTok financial advice says everyone should do the exact same conversion strategy, it’s basically a magician saying:
“Don’t worry, this trick works on every stage, in every lighting condition, with any audience.”
Sure, pal. Let me get my stopwatch.
“Guaranteed” Retirement Income and the Fine Print Trapdoor
Another big one is the “guaranteed retirement income” pitch, especially from IUL (Indexed Universal Life) content.
Insurance products can absolutely play a role in retirement planning—sometimes a very good one. But the social media version often makes them sound like a financial perpetual motion machine:
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market upside
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no downside
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tax-free forever
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guaranteed income
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no tradeoffs
In reality, every product has:
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costs
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caps/spreads/crediting methods
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policy design requirements
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funding rules
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surrender schedules
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performance limitations
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suitability considerations
None of that makes IUL “bad.”
It makes it specific.
The trick isn’t the product.
The trick is pretending the product is one-size-fits-all.
The One-Page Retirement Plan: The “Pick a Card” of Planning
Look, I love a clean summary as much as anyone. A one-page plan can be a great output.
But if someone is handing you a one-page plan as the entire process, that’s like a magician saying:
“For my next illusion, I will simply write ‘TA-DA’ on this note card.”
A real retirement plan isn’t long because we enjoy paper.
It’s long because your life is nuanced.
A good plan helps answer:
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When can I retire—not just if I can?
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What happens if markets disappoint early in retirement?
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How do taxes change through each phase?
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What’s my best Social Security strategy?
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How do I fund healthcare gaps before Medicare?
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How do we plan for long-term care risks?
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How do we align this with my spouse’s goals?
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What do I want to leave, and to whom?
That’s not a worksheet.
That’s your future.
The Difference Between a Trick and a Plan
Here’s the heart of it:
Financial “tricks” sell simplicity.
Financial planning delivers clarity.
And clarity takes work.
Not boring work. Not mysterious work.
Just honest, careful, customized work.
At our firm, we’re not trying to win an “FU Trophy” by fooling anyone. We’re trying to do something harder:
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show you what’s real
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explain what’s possible
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measure tradeoffs
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and build a plan that fits you
Sometimes that includes Roth conversions.
Sometimes insurance.
Sometimes both.
Sometimes neither.
The point is:
You don’t need a magic act. You need a blueprint.
If It Sounds Like Magic, Ask One More Question
Next time you see a flashy financial claim online, try this:
“Is this a strategy… or a performance?”
Because retirement isn’t a stage trick.
You don’t get a redo if the smoke clears and the numbers don’t work.
And the best plans don’t rely on illusion.
They rely on:
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good data
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good modeling
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good judgment
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and a strategy shaped around your actual life
That’s not viral.
But it’s valuable.
And unlike a trophy on a shelf…
it’s something you get to live with for decades.
Mike
Mike Mickels is the President and Chief Compliance Officer of CochranMickels Retirement Specialists, LLC, and an avid sporting clay competitor. Our firm provides personalized planning and investment services to individuals approaching and in retirement. Disclaimer: This content is intended solely for informational purposes. CochranMickels Retirement Specialists, LLC and its representatives are only authorized to offer advisory services where properly licensed or exempt from licensure. Investing carries risks, including potential loss of principal capital. Our firm does not endorse external links, nor is it responsible for third-party content