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Retirement Money Secrets: A Financial Insider's Guide to Income Independence
Retirement Money Secrets is a book about identifying purpose and developing focus in cyclical, often volatile, securities markets. It shows you how to build a lower financial-risk foundation by selecting only high quality, well diversified, income producing securities. It teaches you to identify the ultimate purpose of each security, and fine tunes your ability to treat them all like income generating inventory on the shelves of your own private department store. Regular monthly income production, selectively reinvested and accelerated by profit taking in an income machine designed to use hundreds of interchangeable parts. Secrets will get you focused on the road to income independence.
Secrets shifts your focus from chasing market value "returns", dreading volatile markets, and spending working capital to "Income Focused Retirement Investing" that embraces market volatility and takes advantage of all stages of the market cycle. Once you have the Retirement Money Secrets process in place, you will be able make this statement
Secrets shifts your focus from chasing market value "returns", dreading volatile markets, and spending working capital to "Income Focused Retirement Investing" that embraces market volatility and takes advantage of all stages of the market cycle. Once you have the Retirement Money Secrets process in place, you will be able make this statement
- GenresFinancePersonal Finance
235 pages, Kindle Edition
Published September 24, 2023
58 people are currently reading
68 people want to read
About the author
Steven R Selengut
4 booksI have been a private investment portfolio manager for 50+ years, 44 of those managing as many as 300 individual investment portfolios around the USA and some overseas. When I sold my business in 2023, I had more than 110 million under management for around 140 clients. Of the top selling investment book authors on Amazon, only two were professional investors and NONE ever directly managed other people's money.
In fact, there aren't a whole lot of private portfolio managers out there, and fewer that can claim they will treat you differently from what they are doing for everyone else in terms of content, trading, selection criteria, income production, etc. We are in a model portfolio management, one size fits all, low-income production environment. But you don't have to stay there.
I wrote "Retirement Money Secrets" to show you how I routinely generated more potential spending money for my clients than they needed, year after year, for decades. I was able to reinvest nearly half of that income to constantly grow the next year's production. There are samples in the book, and links to people you can chat with about the process and its potential.
You can achieve income independence while still owning all the all dividend stars and market heroes that you hear so much about. But you will be using packages of securities, stocks and bonds, that in 2023, were paying nearly 10% of in-your-pocket income.
I will teach you the process and lead you step by step down a six principle road leading to financial independence. How does 9% tax free from your ROTH IRA sound to you?
How much money would stock shareholders receive if companies were required to pay them even 50% of their realized earnings? The securities you'll learn about are pass through trusts that must pay out 95% of their realized earnings! No joke. And these are not new kids on the block. They have been around decades longer than Mutual Funds and more than a century longer than ETFs.
The approach you will learn will put you in a position to say with the utmost confidence: "Neither a stock market correction, nor rising interest rates, not even a pandemic, will have a negative impact on my portfolio income. In fact, any of these conditions will present me with opportunities to grow my income even faster."
Most 401(k) programs produce less than 3% income. I'll show you how to transition to a more income productive environment. The approach you will read about in: "Retirement Money Secrets: A Financial Insider's Guide to Income Independence" will teach you how to get there regardless of what is going on with the stock market or interest rates.
In fact, there aren't a whole lot of private portfolio managers out there, and fewer that can claim they will treat you differently from what they are doing for everyone else in terms of content, trading, selection criteria, income production, etc. We are in a model portfolio management, one size fits all, low-income production environment. But you don't have to stay there.
I wrote "Retirement Money Secrets" to show you how I routinely generated more potential spending money for my clients than they needed, year after year, for decades. I was able to reinvest nearly half of that income to constantly grow the next year's production. There are samples in the book, and links to people you can chat with about the process and its potential.
You can achieve income independence while still owning all the all dividend stars and market heroes that you hear so much about. But you will be using packages of securities, stocks and bonds, that in 2023, were paying nearly 10% of in-your-pocket income.
I will teach you the process and lead you step by step down a six principle road leading to financial independence. How does 9% tax free from your ROTH IRA sound to you?
How much money would stock shareholders receive if companies were required to pay them even 50% of their realized earnings? The securities you'll learn about are pass through trusts that must pay out 95% of their realized earnings! No joke. And these are not new kids on the block. They have been around decades longer than Mutual Funds and more than a century longer than ETFs.
The approach you will learn will put you in a position to say with the utmost confidence: "Neither a stock market correction, nor rising interest rates, not even a pandemic, will have a negative impact on my portfolio income. In fact, any of these conditions will present me with opportunities to grow my income even faster."
Most 401(k) programs produce less than 3% income. I'll show you how to transition to a more income productive environment. The approach you will read about in: "Retirement Money Secrets: A Financial Insider's Guide to Income Independence" will teach you how to get there regardless of what is going on with the stock market or interest rates.
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Displaying 1 - 27 of 27 reviews
June 1, 2024
In the back of my mind, I've always known that at some point in my financial life, I'd need to switch from buy-and-hold investing to investing for income. I think I've found the switch I need in "Retirement Money Secrets."
From my youngest days and throughout most of my life, I've heard and heeded the investment advice to buy and hold. Buy quality, diversified, low-cost, tax efficient investments like index mutual funds, no-load funds, and exchange traded funds. Be patient, be consistent, and let market averages and compounding work their magic. You'll need to endure market highs and lows, but in the end, you'll come out ahead.
That buy-and-hold advice is great—up to a point. For me and many others, that point comes when we need to convert our compounded buy-and-hold investments into something that generates reliable income for retirement.
Here's the problem. Those mutual funds usually pay dividends and interest equaling two percent a year. Guidance for living in retirement says to withdraw four percent of your investments per year. Selling shares to make up the difference between two and four percent can result in a slow, or not so slow, dwindling of your investments.
Instead, "Retirement Money Secrets" teaches you to focus on quality, diversified, low-cost investments like closed-end funds that pay you six percent or more every year. That way, you can take your four percent withdrawals, reinvest the remaining two or more percent, and grow your investments instead of dwindling them.
With this income-focused approach, you'll spend a bit more time managing your investments. You may not see the same growth in share values as with buy and hold. And you'll probably pay more in capital gains tax. On the other hand, you'll have a steady and growing income in retirement without worrying about the market highs and lows. The book includes real-life examples of how this approach works.
This may sound too good to be true. Author Steven Selengut has implemented this system for himself and hundreds of clients since 1979. That means this system has worked through Black Monday in 1987, the Great Bond Massacre in 1994, the bursting of the Tech Bubble in 2000, the Great Recession of 2008-9, and the Covid-19 recession.
Now that Selengut is retiring, he wants to share this income-investing approach with as many people as possible. Why? Because it's a shame for people to struggle in retirement when they don't have to.
From my youngest days and throughout most of my life, I've heard and heeded the investment advice to buy and hold. Buy quality, diversified, low-cost, tax efficient investments like index mutual funds, no-load funds, and exchange traded funds. Be patient, be consistent, and let market averages and compounding work their magic. You'll need to endure market highs and lows, but in the end, you'll come out ahead.
That buy-and-hold advice is great—up to a point. For me and many others, that point comes when we need to convert our compounded buy-and-hold investments into something that generates reliable income for retirement.
Here's the problem. Those mutual funds usually pay dividends and interest equaling two percent a year. Guidance for living in retirement says to withdraw four percent of your investments per year. Selling shares to make up the difference between two and four percent can result in a slow, or not so slow, dwindling of your investments.
Instead, "Retirement Money Secrets" teaches you to focus on quality, diversified, low-cost investments like closed-end funds that pay you six percent or more every year. That way, you can take your four percent withdrawals, reinvest the remaining two or more percent, and grow your investments instead of dwindling them.
With this income-focused approach, you'll spend a bit more time managing your investments. You may not see the same growth in share values as with buy and hold. And you'll probably pay more in capital gains tax. On the other hand, you'll have a steady and growing income in retirement without worrying about the market highs and lows. The book includes real-life examples of how this approach works.
This may sound too good to be true. Author Steven Selengut has implemented this system for himself and hundreds of clients since 1979. That means this system has worked through Black Monday in 1987, the Great Bond Massacre in 1994, the bursting of the Tech Bubble in 2000, the Great Recession of 2008-9, and the Covid-19 recession.
Now that Selengut is retiring, he wants to share this income-investing approach with as many people as possible. Why? Because it's a shame for people to struggle in retirement when they don't have to.
February 17, 2025
This book provides a comprehensive overview on understanding and implementing investing in closed end funds meant for a DIY investor. The approach of the author differs from Steven Bavaria's Income Factory approach, but both are must reads for income focused investors. One benefit of this book is that a framework is given for selecting quality closed end funds. Tax efficiency when implementing the author's strategy in non tax-advantaged accounts was hardly addressed and even seemingly dismissed as a valid concern.
August 12, 2025
Changes Everything!
This book will help you to develop a plan to retire with peace of mind. I am in my late 50's and just gearing my portfolios toward retirement planning. I wanted to learn how to better manage things myself and get help if needed along the way. This is the way! Buy the book, read it, use the glossary, and watch a few podcasts. You will never worry about the market ruining your retirement again.
This book will help you to develop a plan to retire with peace of mind. I am in my late 50's and just gearing my portfolios toward retirement planning. I wanted to learn how to better manage things myself and get help if needed along the way. This is the way! Buy the book, read it, use the glossary, and watch a few podcasts. You will never worry about the market ruining your retirement again.
November 15, 2023
I have read approximately a dozen books so far on Closed End Funds (CEF). Basically, I read any book I can get my hands on because I want to manage my own income portfolio. Some CEF books were textbook style from the late 1980s and 1990s and then a couple informational style books written in the past decade or so. If you are in a position where your retirement portfolio can provide an income and you wish to manage it effectively, then you have to read Retirement Money Secrets and consider its merits for implementation. It is for me, by far, the easiest read for the lay person investor without getting lost in a technical trading strategy and hyper-analysis. The author offers a straightforward, comprehensive and logical explanation of a personal income investing strategy. From conjuring up a personal plan and setting goals to finally having your own golden goose (or cash cow!) funding your retirement, the author clearly and succinctly explains what needs to be done. He explains not only what matters, but why it matters. I highly recommend this read.
April 8, 2025
Clear information on how to increase your monthly income in retirement
Very clear and concise information on how to increase your income and overall returns before and during retirement and lesson worries from market volatility. The book provides tools on how to diversify and evaluate closed end funds.
Very clear and concise information on how to increase your income and overall returns before and during retirement and lesson worries from market volatility. The book provides tools on how to diversify and evaluate closed end funds.
October 27, 2025
Sleep better at night!
Highly recommended! Steven Selengut’s Retirement Money Secrets is a gem! I found this book while ordering another finance book and this was recommended reading. After looking at the reviews, I ordered the book. It’s an easy read and clearly explains the major concepts of Steve’s turbo charged dividend investing concepts:
• Learn Dividend Income Investing
• Discover how Closed End Funds are little known but provide low-risk, highly diversified investing with reliable income
• Ditch the 4% rule and sleep better at night knowing that ups and downs in the stock market are part of the normal cycle and that you can benefit regardless of the direction the market is moving.
While there are other books on CEF investing Steve’s method is the only one that includes the profit taking aspect that supercharges your income growth and moves away from just looking at the “market value” of your portfolio. His process focuses on establishing a dividend income stream that preserves and builds your principal using the concept of “working income”.
If you like what you read in the book, you can fall down the rabbit hole very quickly as Steve has been the guest on many personal finance podcasts and YT videos. I found these helpful for filling in the blanks that you might have after reading just the book.
There is also a vibrant community that has access to Steve’s insights and supports each other in the process. (and yes, it requires a monthly subscription, but if you’re like me you’re already paying more for just one of your streaming subscriptions at this point versus this subscription that delivers much more value!)
Using the methods covered in the book, my projected income for the coming year will exceed my pre-retirement income without the 9 to 5 routine. As the title of the post reads, I definitely sleep better at night and no longer worry about the markets ups and downs. Check it out!
Highly recommended! Steven Selengut’s Retirement Money Secrets is a gem! I found this book while ordering another finance book and this was recommended reading. After looking at the reviews, I ordered the book. It’s an easy read and clearly explains the major concepts of Steve’s turbo charged dividend investing concepts:
• Learn Dividend Income Investing
• Discover how Closed End Funds are little known but provide low-risk, highly diversified investing with reliable income
• Ditch the 4% rule and sleep better at night knowing that ups and downs in the stock market are part of the normal cycle and that you can benefit regardless of the direction the market is moving.
While there are other books on CEF investing Steve’s method is the only one that includes the profit taking aspect that supercharges your income growth and moves away from just looking at the “market value” of your portfolio. His process focuses on establishing a dividend income stream that preserves and builds your principal using the concept of “working income”.
If you like what you read in the book, you can fall down the rabbit hole very quickly as Steve has been the guest on many personal finance podcasts and YT videos. I found these helpful for filling in the blanks that you might have after reading just the book.
There is also a vibrant community that has access to Steve’s insights and supports each other in the process. (and yes, it requires a monthly subscription, but if you’re like me you’re already paying more for just one of your streaming subscriptions at this point versus this subscription that delivers much more value!)
Using the methods covered in the book, my projected income for the coming year will exceed my pre-retirement income without the 9 to 5 routine. As the title of the post reads, I definitely sleep better at night and no longer worry about the markets ups and downs. Check it out!
November 24, 2024
Good step by step breakdown of how income investing works. I first found some interviews featuring the author on YouTube and decided to check out his book. CEFs look scary because they have such high distribution yields and don't typically appreciate in trading price, but the author does a great job explaining how investing in these instruments can supercharge your retirement saving and income potential compared to typical stocks, bonds, and index funds. I refuse to do the 4% Rule plan where I would need to sell off my holdings, that's just silly to me. The one criticism I have is the author does not really give any ticker symbols as good or bad examples. He instead pitches curated lists for sale through his website, which I thought was a bit tacky. I suggest reading the "Income Factory" book by Steven Bavaria as well, which gives model portfolios of good holdings for different types of accounts (taxable or tax-free/deferred) and risk tolerances.
August 30, 2025
Anyone tired of the market ups and downs? Want to see your invested money produce consistent income? This is a great book!
We were very good savers throughout our working years, investing in the typical mutal funds that rode the wave of the stock market. I knew in retirement we had to change how we were investing our money when it came time to actually spending what we had saved.
This book gives a perfect blueprint on how to structure your investments to produce income, which is exactly what a retiree needs during their years of drawing on the investments. The book does a great job shifting the mind set from a saving mentality to an income producing mentality. I would highly recommend this book to anyone who is getting close to reitement age or in retirement for shifting how you invest your money to produce consistent income.
We were very good savers throughout our working years, investing in the typical mutal funds that rode the wave of the stock market. I knew in retirement we had to change how we were investing our money when it came time to actually spending what we had saved.
This book gives a perfect blueprint on how to structure your investments to produce income, which is exactly what a retiree needs during their years of drawing on the investments. The book does a great job shifting the mind set from a saving mentality to an income producing mentality. I would highly recommend this book to anyone who is getting close to reitement age or in retirement for shifting how you invest your money to produce consistent income.
November 18, 2025
This is hands-down the best investing book I’ve ever read. It’s exceptionally well-written—clear, concise, and easy to follow without any fluff.
The investment strategy Steve lays out actually works. I’ve been applying it myself for some time now and the results have been outstanding.
If you’re serious about investing, I highly recommend buying the book. And if you want to take it further, come join our online investment community—we share ideas, updates, and help each other compound wealth faster.
Since switching to this approach, my anxiety about retirement income has completely disappeared. For example: a $100k Health Savings Account is now generating about $1,700 a month in dividend income. My larger accounts are performing even better thanks to the diversified closed-end fund strategies we use.
Highly recommended—life-changing stuff. Todd H.
The investment strategy Steve lays out actually works. I’ve been applying it myself for some time now and the results have been outstanding.
If you’re serious about investing, I highly recommend buying the book. And if you want to take it further, come join our online investment community—we share ideas, updates, and help each other compound wealth faster.
Since switching to this approach, my anxiety about retirement income has completely disappeared. For example: a $100k Health Savings Account is now generating about $1,700 a month in dividend income. My larger accounts are performing even better thanks to the diversified closed-end fund strategies we use.
Highly recommended—life-changing stuff. Todd H.
November 22, 2023
Must read when nearing or in retirement
Reviewed in the United States on September 23, 2023
If you are nearing or in retirement, you should be focusing on cash flow from dividends and distributions. i.e. How will you maintain your same living standard w/o your past income?
This book, written in a very conversational style, explains in layman's terms, the value, advantages, and benefits of income investing. A good portion of the book is explaining the benefits of Closed End Funds (CEFs) and why they beat ETFs and mutual funds. The book also covers key topics such as Income-Focused Retirement Investing (IFRI); diversification; profit taking; risk pyramid; and importantly how to transition from your existing portfolio. Highly recommended!
Reviewed in the United States on September 23, 2023
If you are nearing or in retirement, you should be focusing on cash flow from dividends and distributions. i.e. How will you maintain your same living standard w/o your past income?
This book, written in a very conversational style, explains in layman's terms, the value, advantages, and benefits of income investing. A good portion of the book is explaining the benefits of Closed End Funds (CEFs) and why they beat ETFs and mutual funds. The book also covers key topics such as Income-Focused Retirement Investing (IFRI); diversification; profit taking; risk pyramid; and importantly how to transition from your existing portfolio. Highly recommended!
September 16, 2025
This is the best investment book I have ever read. It's actually really well written, to the point and easy to follow.
The investment process that Steve explains in the book, actually works. I have been using and seeing great results.
I suggest buying and if you are interested, join our investment community online and make a lot of money. My stress level about retirement income, has gone away since switching to this process.Retirement Money Secrets: A Financial Insider's Guide to Income Independence
John Crawford
The investment process that Steve explains in the book, actually works. I have been using and seeing great results.
I suggest buying and if you are interested, join our investment community online and make a lot of money. My stress level about retirement income, has gone away since switching to this process.Retirement Money Secrets: A Financial Insider's Guide to Income Independence
John Crawford
September 28, 2024
This book was an Amazon find for me, and it instantly stood out among the "me too" investing books that either never teach you anything new, or do it in such a BORING way that you find it hard to stay awake. Retirement Money Secrets is not like that. It's sooo much better, and I liked the conversational tone (it's literally framed as a conversation between the author, his wife, and they're two new friends).
I learned about some investments vehicles I had never heard of before (CEFs), concepts like "the velocity of money," and there's a helpful Q&A section at the end that has more valuable investment info than most finance books have altogether. Highly recommend!
I learned about some investments vehicles I had never heard of before (CEFs), concepts like "the velocity of money," and there's a helpful Q&A section at the end that has more valuable investment info than most finance books have altogether. Highly recommend!
September 10, 2025
This book has changed how I think of investing 100%. Steve does an amazing job in showing you that the traditional way most of us buy and hold is the wrong way to go about investing. I have converted my crypto gains ( before I lose them) in to CEFs that give you steady and secure avenues of revenue. He will help you step by step on how to create a portfolio that creates revenue from monthly dividends. He gives you a simple and strategic way of approaching the way you invest so you create cash revenue from every CEF you buy. Great book for beginner investors who want the learn the ropes without risking loosing everything. Thanks Steve. I also joined the face book group.
November 19, 2025
This book is an easy read packed with real information. I've put into practice what he's talking about for 6 months now with great results. These are simple-to-understand practices focused on income investing that most people can do. No need to do the traditional 4% spend down in retirement. Preserve and even grow your capital in retirement. It CAN be done. Find him as a podcast guest for more information or find his website. You won't be sorry. I'm an enthusiastic learner happy with the financial results I'm getting.
September 29, 2025
This or the (audio book) is the one to get. The book has completely changed how I look at investing and I no longer care what the market does. If it goes up, great! If it tanks, great I still have the dividends this strategy covers. I have compared this method to my current buy and hold investments and the dividends from my mutual funds do not compare to what I have been able to achieve in a few short months. I am no longer worried about my financial outlook when I retire.
June 3, 2025
Steven R. Selengut has opened my eyes to a path forward to retirement.
I’ve been looking for years for a comprehensive explanation of how to incorporate CEFs and the income they generate into my retirement plan.
Steven has laid out a step by step method to generate income and continually increase the amount you have invested.
I cannot recommend this book more strongly.!
I’ve been looking for years for a comprehensive explanation of how to incorporate CEFs and the income they generate into my retirement plan.
Steven has laid out a step by step method to generate income and continually increase the amount you have invested.
I cannot recommend this book more strongly.!
August 17, 2025
I don't generally read books more than once, but I have with Steve's latest book. The entertaining, easy writing style makes Retirement Money Secrets fun to read while delivering an actionable plan for investing my nest egg. Steve has provided exactly what I was looking for at exactly the right time.
September 10, 2025
Steve has created an outlet for those of us who were distraught by the 4% rule that financial advisors push you to believe this is all you can take out to live on. This book is packed with how to create a monthly income for life way above the industry standard. It's a must-read and you'll be happy you did so.
September 18, 2025
I really appreciate the way Steve lays out how to use CEFs in this book. I am sure using his methods I can manage my own accounts and create regular income vs using the regular buy, hold, and hope methods most advisors provide. The book will be a regular rescouce as I learn more and more.
Thanks Steve
Thanks Steve
September 21, 2025
Steve’s book is super straightforward. I’ve been using his process for about a year now, and honestly, it’s worked even better than I expected. It’s an easy read, very down-to-earth, and totally his style. Plus, with his background, you know the methods are solid. Pick it up, give it a try, and you won’t be disappointed.
February 4, 2024
Good book on CEF investing
Made me want to learn more about CEF’s something I knew very little about. I enjoyed the way the book was written that most can understand the topic of Closed End Funds
Made me want to learn more about CEF’s something I knew very little about. I enjoyed the way the book was written that most can understand the topic of Closed End Funds
July 9, 2025
A refreshing approach to funding retirement
This book is full of applicable advice. It is an easy read that provides motivation for a brighter future no matter how the market moves.
This book is full of applicable advice. It is an easy read that provides motivation for a brighter future no matter how the market moves.
October 25, 2025
This was an eye-opening book on how to invest for retirement. I will never think about investing the same way with what I have learned about income focused investing. I only wish I had read this book earlier. I plan to share this book with my family; the younger they are the better!
October 7, 2025
Absolutely the best investment book that I have ever read. My life just got made a lot easier by Steve Selengut. What a God Send!
November 29, 2025
I very much agree that income is the most important, but I’m not sure that I’d go for CEFs right now.
July 3, 2024
A must-read for those approaching or already in retirement mode. Steve explains his strategies in an easy-to-read format for investors of all skill levels.
His recommendations can, at first, be off-setting as they are untraditional in nature using equities that are unfamiliar. Even obscure. Yet, the history and backtesting check out. The math is sound. The maintenance is minimal once the groundwork is established.
I've been experimenting with his recommendations for about 6 months now and I've been able to watch my monthly dividend distributions, and some capital gains steadily increase with lesser risks.
I read the book. I implemented the recommendations with a good chunk of my portfolio. I've experienced success. I'm now re-reading "Secrets" again with more knowledge and experience than I had on my first pass. Applying the traditional Scientific Method to Steve's strategic recommendations is working out quite favorably. My returns in the experiment are hovering around 9%, annualized. My living needs target is 4%. Obviously - this pays my bills AND increases my net worth.
I recommend the book AND a test run of what you learn.
The author is readily available with online discussions and personal consulting if desired.
His recommendations can, at first, be off-setting as they are untraditional in nature using equities that are unfamiliar. Even obscure. Yet, the history and backtesting check out. The math is sound. The maintenance is minimal once the groundwork is established.
I've been experimenting with his recommendations for about 6 months now and I've been able to watch my monthly dividend distributions, and some capital gains steadily increase with lesser risks.
I read the book. I implemented the recommendations with a good chunk of my portfolio. I've experienced success. I'm now re-reading "Secrets" again with more knowledge and experience than I had on my first pass. Applying the traditional Scientific Method to Steve's strategic recommendations is working out quite favorably. My returns in the experiment are hovering around 9%, annualized. My living needs target is 4%. Obviously - this pays my bills AND increases my net worth.
I recommend the book AND a test run of what you learn.
The author is readily available with online discussions and personal consulting if desired.
September 7, 2025
Another valuable income source for retirees.
This is a great complement to other sources such as those on Seeking Alpha and other books like The Income Factory.
This is a great complement to other sources such as those on Seeking Alpha and other books like The Income Factory.
Displaying 1 - 27 of 27 reviews