Retirement Answer Man

In this episode, Roger Whitney breaks down essential elements you need to consider before and during retirement. From understanding inflation risks to strategic asset reallocation, this episode offers practical advice to help you make informed decisions and craft a retirement that aligns with your values. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PODCAST (00:00) Introduction and overview of upcoming topics RETIREMENT TOOLKIT (01:49) Why inflation poses a significant risk to retirees(02:32) What is inflation and how is it measured (03:33) Causes of inflation: demand, supply constraints, and rising costs(05:20) Historical inflation rates and what they mean for your planning(06:48) How to choose a realistic inflation assumption in your plan(08:40) Strategies to hedge against inflation ROCKIN RETIREMENT IN THE WILD (12:47) Jim’s story: diversity in retirement activities and the importance of adaptability PRACTICAL PLANNING SEGMENT (16:07) Mike’s question reframed: focus on designing your retirement life first, not account tactics(17:50) Roger reviews Mike’s facts(18:56) The importance of building a feasible plan of record, estimating expenses, and creating a realistic monthly budget for retirement(23:13) Clarifying values and how they shape your retirement goals(25:20) Income side of the plan: social security, pensions, and tax considerations(30:15) Once the plan is feasible, start testing versions of the plan and planning paycheck(31:52)  401(k) and 457 decisions can wait—focus on positioning assets for income first(33:12) Consider building after-tax savings now to increase future optionality LISTENER QUESTIONS (35:50) Listener shares story about roadside cafe(36:20) Michael asks a question about ROTH conversions in a down market(38:50) Steve asks how to better time Roth conversions to avoid triggering IRMAA Medicare surcharges? SMART SPRINT (45:14) Smart Sprint: Before acting, ask yourself “what problem am I actually solving?” ON THE BOOKSHELF (46:25) Roger talks about his love of notebooks and shares book recommendations REFERENCES Submit a Question for RogerSign up for The NoodleON THE BOOKSHELF Ugmonk NotebooksTheo of Golden by Allen LeviThe Three Musketeers by Alexandre DumasNote: The opinions expressed are for informational purposes only and should not replace personalized advice from licensed professionals.

In this episode of the Retirement Answer Man, Roger Whitney explores the critical decision of when to claim Social Security benefits, weighing the pros and cons of taking them early versus delaying. Through listener questions, he delves into the impact of investment returns, health considerations, and income needs on retirement strategies. Roger also shares inspiring retirement stories and offers practical advice on managing retirement accounts and planning for the future. With insights into the psychological and financial aspects of retirement, this episode equips listeners with the knowledge to make informed decisions about their financial well-being. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Introduction: Navigating retirement decisions with confidence ROCKIN’ RETIREMENT IN THE WILD (00:42) Highlighting stories of unique retirement adventures(01:08) The non-financial benefits of enjoying freedom day-by-day(04:25) Cultural pressure to plan and set goals in retirement(06:19) Retirement dreams: taking the world's longest flight PRACTICAL PLANNING SEGMENT (07:32) Addressing the dilemma: take Social Security early and invest it?(09:22) Key facts impacting Social Security claiming strategy(12:23) Investment return scenarios (14:17) Benefits of not taking SS early: market risk, guaranteed income, simplicity(19:00) Managing uncertainty and balancing investment returns(21:23) Strategies for inherited Roth IRAs and mega backdoor Roth approaches(24:40) Inheritance, aspirational goals, and resilient plans(32:03) How to avoid fees moving 401k SMART SPRINT (36:00) Smart Sprint: Download your most recent Social Security statement  ON THE BOOKSHELF (37:19) Book recommendations from the team REFERENCES Social Security Statement – Create or access your account to view benefitsUnforgettable: The Art and Science of Creating Memorable Experiences by Phil MarshonHow the Word is Passed by Clint SmithSubmit a Question for RogerSign up for The NoodleNote: The opinions expressed are for informational purposes only and should not replace personalized advice from licensed professionals.

Explore how meaningful travel experiences, storytelling, and thoughtful planning can enhance your retirement journey. In this episode, Roger answers listener questions on managing retirement accounts, health insurance, financial literacy, and shares inspiring stories and book recommendations. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Introduction: Rock retirement with community questions and stories ROCKIN’ RETIREMENT IN THE WILD (01:39) A memorable travel story from Doug in Greece and the value of experiential travel RETIREMENT LIFE LAB (03:50) The significance of experiences over souvenirs for meaningful memories LISTENER QUESTIONS (06:15) Addressing listener questions on managing retirement accounts and consolidating assets(06:43) Handling required minimum distributions and tax considerations for late retirees (Vern's story)(09:23) Reasons to keep or roll over 401(k) assets, including inertia, access, and creditor protection(12:32) Audio question about health insurance and budgeting(18:10) Correcting misconceptions about MAGI and ACA subsidies (Michael’s feedback)(20:08) Insights on the blind spots of retirement planning software and AI’s role in financial planning(23:00) The emerging role of AI as a thinking partner in retirement planning(25:43) Managing required minimum distributions and tax planning for late retirees (Michelle’s situation)(28:08) Using professional help vs. DIY approaches for RMDs and taxes(31:24) Dan’s pursuit of a meaningful second career in financial literacy and how to prepare ON THE BOOKSHELF (35:42) Recommended bookshelf: The Art of Spending Money, Devil in the White City, Inside the Greatest Crash, and Once an Eagle SMART SPRINT (41:37) Smart Sprint: Create an experiential gift to cherish memories with loved onesREFERENCES The Art of Spending Money by Morgan HouselDevil in the White City by Erik LarsonInside the Greatest Crash by Andrew Ross SorkinOnce an Eagle by Anton MyrerAging and Healthcare Planning ResourcesConnect with Roger Whitney: Submit a Question for RogerSign up for The NoodleNote: The opinions expressed are for informational purposes only and should not replace personalized advice from licensed professionals.

Roger Whitney explores why retirement planning software—especially Monte Carlo simulations—can give a false sense of confidence if misunderstood. He explains what these tools actually measure, the hidden assumptions behind them, and why retirement is a complex problem that requires judgment, flexibility, and resilience—not just a high “success rate.” Roger shares how to properly interpret results, avoid common traps, and use software as a guide rather than a decision-maker so you can build a retirement plan that supports a great life. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but have the confidence to lean in and rock it.(00:30) Roger introduces the episode topic—why your retirement calculator’s success rate can be misleading. PRACTICAL PLANNING SEGMENT (02:50) Roger explains his perspective as a long-time practitioner and outlines his experience using Monte Carlo-based retirement tools.(05:05) Complicated vs. complex problems: why retirement can’t be “solved” like a math equation and must instead be managed over time.(09:30) Concerns about overreliance on software—from advisors scaling businesses to individuals misinterpreting results.(11:30) What retirement software actually measures.(13:25) What software does NOT measure.(14:18) Best uses of planning software.(17:40) What software should NOT be used for.(19:40) Key dangers of using retirement software.(23:00) Feasibility vs. resilience: why a plan that “works” on paper may still be fragile in real life.(24:20) The real risk:Overspending early and jeopardizing later yearsUnderspending and missing out on life(26:20) The massive number of assumptions behind every plan—and how small changes can dramatically alter outcomes over time.(38:20) How to interpret results properly.(40:55) Looking beyond the number: evaluating the distribution of outcomes and plan sensitivity.(44:43) Understanding failures:Timing (early vs. late failures)Severity (minor shortfall vs. major gap)(48:27) Best practices:Hold success rates lightlyKeep plans simpleRegularly review assumptionsAvoid over-planning and constant tweakingDefine what success actually means for your lifeSMART SPRINT (56:04) Schedule time to review the assumptions in your retirement planning software—focus on understanding the inputs rather than optimizing the output. CLOSING THOUGHTS (56:50) Roger shares an update on the merger of his firm with Tanya Nichols’ firm and the creation of a new company, Retire Agile. REFERENCES livewithroger.com — Register for Noodle Live on March 28!Submit a Question for RogerSign up for The Noodle

💬 Show Notes Wade Pfau, author of The Retirement Planning Guidebook and creator of the Retirement Income Style Awareness (RISA®) assessment joins Roger for a wide-ranging conversation on the big questions of retirement income planning. Wade breaks down why the RISA is a better fit for retirement than a traditional risk tolerance questionnaire, how to think about real estate and reverse mortgages as retirement tools, and what the research actually says about annuities — including when to buy, whether to add inflation protection, and how fixed index annuities with living benefits really work. This podcast is a replay of a recent Rock Retirement Club meetup where members were able to join live and ask questions. Outline Of This Episode Of The Retirement Answer Man (00:00) Roger previews the episode and invites listeners to register for Noodle Live — a Saturday morning Zoom on March 28 at livewithroger.comCONVERSATION WITH DR. WADE PFAU (02:00) Roger introduces Wade Pfau, author of The Retirement Planning Guidebook (04:15) RISA vs. risk tolerance questionnaires(10:45) How to use The Retirement Planning Guidebook(12:00) AI in retirement research(14:30) RRC Member Question: How does real estate fit into retirement planning?(17:00) Reverse mortgages as a retirement tool — usage trends, how the HECM line of credit works, upfront cost hurdles, and why adoption remains low(21:30) RRC Member Question: What is an effective marginal tax rate (EMR) and how does it affect Roth conversion strategy? (25:00) Navigating ACA subsidy cliffs before Medicare(28:00) RRC Member Question: Fixed vs. inflation-adjusted annuities(33:00) Annuity timing(37:00) RRC Member Question: Should we explore intentionally breaking the ACA cliff every few years?(48:00) Fixed index annuities with living benefits vs. income annuities(53:00) RRC Member Question: Is there an optimal age window for buying an annuity if it's a "nice to have" rather than a must?(57:00) Interpreting retirement planning softwareSMART SPRINT (59:00) Pick up the latest edition of The Retirement Planning Guidebook. Use it as an approachable reference guide, or read it straight through if you're really into retirement planning.REFERENCES livewithroger.com — Register for Noodle Live on March 28!The Retirement Planning Guidebook, 3rd Edition — Wade Pfau / retirementresearcher.comTake the RISA® assessment.Submit a Question for Roger.Sign up for The Noodle.

Roger Whitney dives into practical strategies for navigating health care before Medicare, sharing insights from retirees, survey results, and listener questions. Together they explore real-world solutions for coverage gaps, timing withdrawals, and managing medical expenses in early retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement but have confidence in your financial and life decisions.(00:40) Roger introduces the focus: pre-Medicare health care, survey insights, and practical strategies.LISTENER EXPERIENCES AND STRATEGIES (03:00) Roger shares experiences and questions from listeners navigating pre-Medicare coverage. They discuss timing COBRA versus ACA transitions, evaluating company retiree plans, managing risk when uninsured, and creative strategies like catastrophic insurance, health-sharing plans, and part-time work benefits. Listeners also explore using HSAs and inherited IRAs to manage costs and maximize subsidies, providing a broad view of practical approaches for early retirees.ROCKING RETIREMENT IN THE WILD (32:50) Jennifer retires at 59½, discovers watercolor painting, fitness classes, and increased spending patterns in early retirementSURVEY INSIGHTS (37:08) Roger summarizes key takeaways from over 400 survey respondents.SMART SPRINT (48:19) Action step: identify your “homies” for retirement planning. Notice how your closest relationships influence your retirement experience and take one step this week to strengthen those connections.REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

Roger Whitney shifts from financial planning to the non-financial pillar of relationships, sharing a live conversation with Harry Reis about how to feel more loved and connected in retirement. Together they explore the science behind belonging and loneliness, introduce practical mindsets for deepening relationships, answer listener questions, and close with the team’s latest book recommendations. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement but have the confidence and clarity to lean in and rock it.(00:27) Roger outlines the month ahead: a focus on relationships, an upcoming financial deep dive with Wade Pfau, wisdom from retirees navigating health care before Medicare, a candid discussion on retirement calculators, and a live Noodle hangout.CONVERSATION WITH HARRY REISS (02:00) Roger introduces Harry Reis, co-author (with Sonja Lyubomirsky) of How to Feel Loved, for a conversation recorded live in the Rock Retirement Club.(05:17) Roger asks Harry what led him down the path to study relationships and partner with Sonja Lyubomirsky for the book.(15:00) Harry talks about the loneliness epidemic and the effects of not feeling loved.(17:45) Roger and Harry talk about the obstacles and myths of being loved. (23:15) Harry introduces the sea-saw framework for relationships.(27:00) Harry shares practical mindsets for strengthening connection, including listening to learn, radical curiosity, multiplicity, and mutual vulnerability.(43:30) Roger reflects on why this is important.LISTENER QUESTIONS (45:00) Listeners share questions about one-sided conversations, vulnerability, and love languages, leading to practical discussion about compatibility, communication, and choosing people willing to “play seesaw.”WHAT’S ON THE BOOKSHELF? (58:00) The team shares recent reads.SMART SPRINT (1:05:55) Consider one relationship you want to deepen. Practice listening to learn this week. Ask one more follow-up question than you normally would and notice what happens.REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManHow to Feel Loved  by Sonja Lyubomirsky and Harry Reis

Roger Whitney wraps up the four-part series on navigating health care before Medicare by introducing a practical decision-making framework using the OODA Loop—observe, orient, decide, act—to help you avoid unforced errors and make a confident judgment call. He walks through organizing your retirement cash flow, estimating MAGI and ACA subsidy eligibility, evaluating COBRA, ACA, and private coverage options, and weighing tax optimization against simplicity and continuity of care. He’s joined by Taylor Schulte of Define Financial to discuss how professionals navigate Roth conversions, Social Security timing, ACA cliffs, and the trade-offs between optimizing for subsidies versus long-term tax planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but have the confidence to lean in and rock it.(00:30) Roger introduces the final week of the health care before Medicare series and previews upcoming episodes with Harry Reese (co-author of How to Feel Loved) and retirement researcher Wade Pfau.PRACTICAL PLANNING SEGMENT (02:30) Roger reviews the three “heads” that must be managed before Medicare- cost, continuity of care, and complexity.(03:30) Roger talks about avoiding unforced errors that could cost you money, disrupt care, or create unnecessary stress.(05:18) Roger introduces the OODA Loop—observe, orient, decide, act—as a practical way to think step by step about health coverage choices. (05:52) Observe: Build a 5-year retirement income and spending plan, estimate taxes and MAGI, identify where you fall relative to the ACA subsidy cliff, and review withdrawal sources (taxable, pre-tax, Roth) along with future RMD implications.(14:21) Orient: Clarify what matters most to help you make a decision.(20:00) Decide & Act: Choose a direction, document your reasoning, update your plan of record, and implement the distribution strategy that supports your choice. CONVERSATION WITH TAYLOR SCHULTE (22:25) Roger introduces Taylor Schulte from Define Financial(23:15) Why health care before Medicare shouldn’t automatically delay retirement and how assumptions often go untested.(26:50) Evaluating alternatives beyond ACA, including COBRA as a short-term bridge and private plans.(31:50) The tension between Roth conversions and ACA subsidies, and how Social Security timing affects MAGI.(34:20) Avoiding the “optimization trap”: sometimes paying more for simplicity still results in a resilient retirement plan.(36:40) The key takeaway is that there’s no perfect answer—retirees should explore options, make informed decisions without fear, and use healthcare planning as a tool rather than a barrier or excuse to delay retirement.SMART SPRINT (43:35) Set a reminder to review your health care strategy using a structured approach—especially if retirement or Medicare enrollment is approaching. The goal is to be intentional, not reactive. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManKaiser Family Foundation (KFF)Healthcare.govDefine Financial- Taylor SchulteStay Wealthy Retirement Show- Taylor Schulte (podcast)

Roger Whitney continues the four-part series on navigating health care before Medicare, focusing this week on controlling costs—both through everyday decisions and by understanding how the Affordable Care Act (ACA) subsidy system works now that the expanded credits have expired. He explains the return of the 400% federal poverty level “cliff,” walks through how modified adjusted gross income (MAGI) impacts premiums, shares listener experiences with inflation and subsidy loss, and explores the ethical tension around optimizing for government benefits. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but have the confidence to lean in and rock it.(00:30) Roger introduces week three of the four-part series on health care before Medicare, focusing on controlling health care costs and understanding ACA subsidies. He previews next week’s structured decision framework and conversation with Taylor Schulte of Define Financial.PRACTICAL PLANNING SEGMENT (02:35) Start with the fundamentals: staying or getting healthy through strength, cardio, mobility, screenings, and proactive chronic condition management to potentially reduce long-term costs.(04:58) Compare all available coverage options and use practical strategies like staying in-network, timing procedures, and shopping prescriptions to manage costs.UNDERSTANDING THE ACA SUBSIDY SCHEME (POST-2025 CHANGES) (08:48) Roger breaks down the Affordable Care Act’s premium subsidy scheme, designed to make health care more affordable and protect coverage for preexisting conditions. He explains how subsidies are based on income relative to the federal poverty level (FPL) and how the rules have changed over time, including expansions under the American Rescue Plan and temporary extensions during COVID.(11:55) Roger explains how the premium tax credit works, including that eligibility is based on having income between 100% and 400% of the federal poverty level, and that exceeding the threshold by even $1 eliminates any subsidies(14:00) Roger gives an example of a married couple comparing higher versus lower income, illustrating how managing income can significantly affect subsidies in the years before Medicare.(15:47) What counts toward Modified Adjusted Gross Income (MAGI) and what does not count.(18:00) Reconciliation risk: estimating income during open enrollment and potentially repaying subsidies if actual income exceeds projections.(22:30) Strategic planning opportunities: building tax diversification before retirement (taxable, Roth, HSA) to create flexibility in managing MAGI and avoiding unforced errors like unexpected capital gain distributions, RSU vesting, or inherited IRA withdrawals.(26:40) Common pitfalls that can unexpectedly reduce your health care subsidies, and why keeping a buffer below the income cliff matters.LISTENER QUESTIONS & OBSERVATIONS (30:25) Joe reflects on retiring in his early 50s and how health care costs quickly became a major factor in his retirement planning.(35:35) Clarification on ACA navigators and where to find assistance through HealthCare.gov and research from Kaiser Family Foundation.(37:00) David shares his experience navigating insurance before Medicare, highlighting how exploring different options helped manage costs.(38:36) Gene asks about handling a gap in coverage before Medicare, and Roger shares strategies to manage costs and explore available options.(45:20) Philosophical discussion on whether it is appropriate to intentionally manage income to qualify for subsidies, and how each person must reconcile financial optimization with personal values.SMART SPRINT (51:30) Choose one area of spending this week—health care or otherwise—and apply intentional cost awareness to build the habit of conscious cost control.REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManKaiser Family Foundation (KFF)Healthcare.gov

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but have the clarity, confidence, and comfort to lean in and rock it.(00:30) Roger introduces week two of the four-part series on health care before Medicare and explains why assumptions about health care costs can shut down curiosity, create false tradeoffs, and delay retirement decisions.PRACTICAL PLANNING SEGMENT (05:05) After last week’s sticker shock, Roger shifts the focus to observing health care options before tackling cost mitigation next week.(05:28) Option #1 — COBRA: how continuation coverage works, who qualifies, how long it lasts, and why it can serve as a temporary bridge despite higher costs.(12:35) Option #2 — Affordable Care Act (ACA): marketplace coverage, guaranteed issue for preexisting conditions, plan tiers, and why the system is complex but flexible.(19:46) Option #3 — Part-time employer coverage: using part-time work to access group insurance, earn income, and maintain purpose and social connection.(25:20) Other alternatives, including private non-marketplace plans and health share plans, and why they require caution.LISTENER QUESTIONS (28:19) Joni asks about creating a trust will instead of a straight will, naming her son as beneficiary, and how traditional and Roth IRAs would be distributed under SECURE Act rules.(34:42) Christine asks whether it’s possible to anticipate capital gains distributions in open-end mutual funds before year-end.(38:45) Andy shares an observation about Monte Carlo simulations.SMART SPRINT (42:20) Roger encourages listeners to identify and challenge their assumptions about health care and retirement timing.REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManKaiser Family Foundation (KFF)Healthcare.gov

Roger Whitney kicks off a month-long series on navigating health care before Medicare, introducing Cerberus—the three-headed dog of Greek mythology—as a framework for understanding the biggest challenges retirees face when leaving employer-sponsored coverage. He breaks down the three heads of Cerberus, answers listener questions about retirement planning, and shares recent book recommendations from himself and the team. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but have the confidence to lean in and rock it.(00:30) Roger introduces the Cerberus framework and outlines the four-week series on health care before Medicare.HEALTH CARE BEFORE MEDICARE: THE THREE HEADS OF CERBERUS (02:20) Roger explains why retiring before Medicare requires a strategy and introduces the three “heads” of the health care Cerberus.(03:11) “Head” #1: The true cost of health care without an employer subsidy and why it creates sticker shock in retirement, especially when paid from pre-tax accounts.(10:50) “Head” #2: Coverage challenges, including narrower networks, fewer plan options, and the potential loss of trusted doctors and specialists.(15:13) “Head” #3: Increased complexity in choosing plans, managing care, and navigating ACA subsidies based on modified adjusted gross income.LISTENER QUESTIONS & OBSERVATIONS (19:20) Roger responds to listener questions about saving discipline, the 4% rule, geographic cost differences, values-based planning, and how taxes are modeled in retirement case studies.SMART SPRINT (33:00) Roger encourages listeners to review the health care assumptions in their retirement plan, especially for those retiring before Medicare age.WHAT’S ON THE BOOKSHELF (34:14) Roger and the team share recent book recommendations, including history, personal finance, purpose, habits, and wealth.REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManKaiser Family Foundation (KFF)Healthcare.gov

As the Retirement Plan Live series wraps up, Roger Whitney shares wisdom from retirees further along the path to help Henry and Lucy think beyond the numbers. Listeners in their 50s, 60s, and 70s reflect on purpose, work, health, money, and joy—offering perspective on what really matters when retiring early. Roger closes with his own observations from decades of coaching, a Smart Sprint focused on learning from others, and listener-submitted words for the year. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but to have the confidence to lean in and rock it.(01:33) Two announcements: next month starts a healthcare-before-Medicare series and the listener survey in The Noodle is coming soon.WISDOM FROM RETIREES FURTHER ALONG (03:41) Roger reads listener reflections from retirees further along, sharing lessons on purpose, work, health, flexibility, and building a meaningful retirement.ROGER’S OBSERVATIONS  (12:54) Roger shares his observations from decades of coaching on what leads to a fulfilling retirement, including permission, projects, community, service, and avoiding distraction or scarcity thinking.SMART SPRINT (22:12) Identify one challenge you’re facing and talk with someone who has already walked that path—before turning to books or the internet.LISTENER WORDS FOR THE YEAR (25:10) Roger shares listener words for the year and the personal meaning behind them.RESOURCES Sign up for our next webinar!Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

As the Retirement Plan Live case study continues, Roger Whitney helps Henry and Lucy move from dreaming to feasibility, organizing the real financial resources available to support an early retirement in their 40s. This episode centers on trade-offs, confidence, and the reality of giving up earned income decades early. Roger and the couple walk through income assumptions, assets, and risk tolerance before closing with listener advice, a Smart Sprint, and words for the year. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but to have the confidence and comfort to lean in and rock retirement.(00:27) Roger introduces Week 3 of the Retirement Plan Live case study with Henry and Lucy.(02:15) What are Henry and Lucy giving up to retire early?RETIREMENT PLAN LIVE (05:00) Roger asks Henry and Lucy if they pick a word of the year.(06:05) Henry and Lucy reflect on why retiring even one year earlier feels uncomfortable without proof.(10:50) Review of Social Security assumptions and why it’s excluded from their base plan.(14:13) Confirmation that the plan assumes no earned income after retirement.(20:40) Overview of after-tax assets, cash buckets, and sinking funds.(26:20) Review of retirement accounts, savings rates, and long-term strategy.(31:30) Home equity, college savings, and inheritance assumptions.(33:40) Clarifying the goal for the after-tax bridge bucket.ADVICE FROM A RETIREE (38:39) Listener Bonnie shares an alternative approach using sabbaticals and flexible work.(41:10) Roger reflects on optionality, skill relevance, and maintaining professional networks. SMART SPRINT (42:30) Roger encourages listeners to organize or update their net worth statement.WORD FOR THE YEAR (43:40) Listener Alex shares his word for the year: Healing.(45:10) Listener Valerie shares her word for the year: Minimize. REFERENCES Sign up for our next webinar!Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

As the Retirement Plan Live case study continues, Roger Whitney helps Henry and Lucy articulate what they want their FIRE retirement to actually look like—starting with values, dreaming without constraint, and then translating that vision into concrete goals. Along the way, Roger shares wisdom from older retirees about purpose, productivity, and flexibility, invites listeners to reflect on their own “magic,” and closes with a Smart Sprint and listener-submitted words for the year. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but to have the confidence and clarity to lean in and rock it.(00:23) Roger previews today’s focus: Henry and Lucy’s retirement goals, advice from seasoned retirees, a Smart Sprint, and listener words for the year.(01:00) Roger explains why retirement planning should begin with dreaming big—starting with “everything” before testing feasibility.RETIREMENT PLAN LIVE (03:25) Henry and Lucy walk through their core values and how those values shape their vision for retirement.(05:55) Roger reviews and discusses Lucy’s top ten values.(09:29) Henry talks about his top values.(11:40) Roger reflects on whether retiring early means “burying” one’s gifts, and considers how purpose and contribution can take many forms beyond traditional work.(13:44) Roger talks through Henry and Lucy’s goals for retirement and their budget for a great base life.(19:47) Lucy breaks down her thought process on her great base life budget.(23:00) Henry weighs in with his thoughts on their great base life.(24:05) They review discretionary goals such as travel, a camper van, hobbies, and future family commitments.(27:55) Lucy and Henry talk about aspirational wishes.(35:00) Lucy talks about how they react during uncertain times.WISDOM FROM RETIREES FURTHER ALONG (41:41) Listener Mike shares why he chose “FILE” (Financially Independent, Living Early) instead of full FIRE, emphasizing purpose and reduced stress.(45:10) Listener Renee offers perspective on flexibility, one spouse stepping away from work, and how lower stress improved family life.SMART SPRINT (48:08) Roger encourages listeners to separately write down their own “magic” retirement goals—without self-editing—then share and discuss them with their partner.WORD FOR THE YEAR (50:07) Roger shares listener words for the year.CLOSING THOUGHTS (53:17) Roger previews next week’s episode, where Henry and Lucy’s assets and resources will be evaluated to see what is feasible.REFERENCES Sign up for our next webinar!Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

As the new year begins, Roger Whitney launches a new Retirement Plan Live case study, introducing Henry and Lucy, a couple in their mid-40s pursuing Financial Independence and Retire Early (FIRE). Roger revisits the 4% rule as a planning heuristic, explains when it can be helpful, and sets the stage for a live community analysis later this month. The episode closes with a Smart Sprint focused on updating your net worth statement and a listener’s word for 2026. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but to have the confidence to lean in and rock it.(00:30) Roger introduces a new Retirement Plan Live case study series and previews the upcoming live community meetup on January 29.RETIREMENT TOOLKIT (01:58) Roger revisits the 4% rule, explaining what it is, where it came from, and why it is often misunderstood.(04:55) Roger talks about the 25x rule commonly used in the FIRE community.(06:38) He discusses the drawbacks of using these heuristics and who they are best used for.(11:05) Roger shares how the 4% rule can help overfunded retirees move beyond scarcity and spend more intentionally.(13:55) A breakdown of FIRE- Financial Independence, Retire Early.RETIREMENT PLAN LIVE (17:41) Roger introduces Henry and Lucy.(20:01) They share how they discovered FIRE and what it means to them.(23:10) Lucy reflects on spending habits, saving, and budgeting(25:30) Henry talks about the start of their relationship.(28:12) Henry and Lucy discuss how saving impacted their lifestyle.(31:20) They discuss what drives their desire to retire early.(32:55) Roger reflects on his first impression of the FIRE Movement.(34:15) What are the obstacles of retiring so early?(38:45) Roger talks about the difference between a complicated problem and a complex problem.(40:35) Roger asks if they think about landmines that could pop up with such a long retirement.(43:57) Roger invites listeners further along the retirement path to share perspective and advice for their 40-something selves.SMART SPRINT (45:20) Roger encourages listeners to update their end-of-year net worth statement and identify trends for the year ahead.WORD OF THE YEAR (47:31) Listener Lindsay shares her word for 2026: Listen, and Roger reflects on the value of deep listening. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManLivewithroger.comThe Millionaire Next Door: The Surprising Secrets of America's Wealthy- Thomas J Stanley, Ph.D.

As the year comes to a close, Roger Whitney reflects on the power of words, walks through an important year-end tax planning reminder for retirees, shares listener stories and perspectives, and invites listeners to choose a guiding word for 2026 as a way to approach retirement with greater intention and clarity. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but have the confidence and clarity to lean in and rock it.(00:45) Roger reflects on slowing down, reclaiming meaning in familiar words, and recommitting to clearing the battlefield as we head into a new year.RETIREMENT TOOLKIT (03:22) Roger explains why estimated quarterly tax payments matter in retirement and how they can help prevent unwelcome tax surprises.(05:44) He outlines safe harbor rules and practical best practices for withholding taxes from Social Security, IRA distributions, and pensions.RETIREMENT LIFE LAB (13:33) Roger shares listener responses about corporate words and phrases people are eager to retire when they leave the workforce.ROCKING RETIREMENT IN THE WILD (19:33) Mick and Patty share reflections on fitness, travel, and meaning in retirement, including experiences shaped by history and family.FOCUSING FORWARD: A WORD FOR 2026 (21:10) Roger discusses the practice of choosing a single word to define the coming year and reads listener-submitted words for 2026.(28:40) Roger reveals his own word for 2026.SMART SPRINT (34:07) Roger encourages listeners to reflect on the season they are entering and consider choosing a word to help guide decisions in 2026.CLOSING THOUGHTS (34:55) Roger responds to listener feedback on charitable giving and enjoying retirement, emphasizing balance, generosity, and intentional living as the year ends.REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManFinancial Calculators from Dinkytown.net

In this Christmas Eve episode, Roger Whitney explores the basics of charitable giving as part of an intentional retirement plan, with a timely focus on year-end decisions. He explains how charitable deductions work, common planning mistakes to avoid, and why generosity is most effective when paired with a resilient financial plan. Roger also shares a Rocking Retirement in the Wild story from a listener who is actively living a purpose-filled retirement, reflects on the corporate language we can leave behind when we retire, and answers listener questions on retirement readiness, gifting inheritance early, and the risks of relying on high-yield bonds for retirement income. He closes the episode with personal reflections on lessons learned, reminding listeners how to keep retirement simple, resilient, and meaningful while making a positive impact on others. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but confidently lean in and rock it.(00:20) Roger introduces a Christmas Eve episode focused on charitable giving, listener stories, answering questions, and reflecting on intentional retirement living.RETIREMENT TOOLKIT (03:45) Roger walks through the basics of charitable giving, including qualified charities, documentation requirements, and how deductions work with standard versus itemized returns.(07:55) Year-end timing rules for checks, credit cards, stock transfers, and donor-advised funds.ROCKIN’ RETIREMENT IN THE WILD (09:30) A listener shares how, at 67, he backpacked 121 miles through Maine’s 100-Mile Wilderness, reconnecting with longtime friends and staying physically engaged in retirement.(12:28) Roger reflects on why rocking retirement doesn’t have to be impressive—only meaningful to the person living it.RETIREMENT LIFE LAB (13:03) Roger explores the idea of “retiring” corporate jargon in retirement and how simplifying language can help us reconnect and speak more human again.(18:21) Listeners are invited to share the words and phrases they are most looking forward to leaving behind.LISTENER QUESTIONS (19:50) Don asks why most people enter retirement with relatively little savings and what that reality means for financial and social stability.(29:25) A listener asks how to give inheritance before death without triggering taxes.(33:46) James asks whether using high-yield corporate bonds as the foundation for retirement income is a safe strategy.SMART SPRINT (42:08) In the next seven days, Roger challenges listeners to choose a single word for 2026 to serve as a guiding focus for the year ahead.CLOSING THOUGHTS (43:59) Roger shares final reflections on the lessons of the episode, emphasizing elegant simplicity, financial resilience, and showing up to help others in meaningful ways. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

In this episode, Roger Whitney walks listeners through the complexities of inherited IRAs, highlighting the impact of the SECURE Act of 2019 and clarifying the distinctions between eligible and non-eligible designated beneficiaries. He explains how these classifications affect withdrawals and tax planning, making the rules easy to understand. Roger also answers listener questions on topics like retirement team selection and funding health insurance with HSA accounts. Beyond the numbers, he shares practical strategies for creating more meaningful holiday conversations, drawing on real-life examples to show how curiosity and intentionality can help you connect more deeply with the people you care about. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you rock retirement.(00:30) In today’s episode, Roger Whitney covers the rules around inherited IRAs, explores ways to foster deeper and more meaningful conversations during the holidays and beyond, and answers listener questions. RETIREMENT TOOLKIT (01:00) Today ​in ​the ​Retirement ​Toolkit ​we're ​going ​to ​talk ​about ​the ​rules ​around ​inherited ​IRAs.(02:40) Differences between eligible and non-eligible designated beneficiaries for inherited IRAs are explained.(14:32) Roger talks about ROTH IRAs and how they work. RETIREMENT LIFE LAB (16:04) Roger explains how approaching conversations with curiosity and intentionality, especially with older family members or those with different interests, can create more meaningful and enriching interactions. LISTENER QUESTIONS (25:37) Ira asks what to ask a financial advisor’s team to understand their retirement planning services and team longevity.(37:02) Mary Jane asks if she can use Health Savings Account funds tax-free to pay for private health insurance premiums before Medicare eligibility. SMART SPRINT (38:42) In the next week, approach holiday or New Year’s gatherings with curiosity by asking questions and engaging with people you don’t see often to create more meaningful interactions. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

In this episode, Roger Whitney, a retirement planner with 30 years of experience, breaks down annual gifting limits and year-end planning. He shares practical strategies for giving that make a real impact and create meaningful experiences for loved ones. Roger also answers listener questions, providing clear guidance to help you navigate your retirement with confidence. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This podcast is dedicated to helping you rock retirement.(00:57) Today Roger talks about annual gifting limits.RETIREMENT TOOLKIT (01:45) In today’s Retirement Toolkit, Roger explores year-end planning by breaking down the 2025 annual gift exclusion.(04:05) Roger discusses giving money during your lifetime and shares the reasons why it can be beneficial.(12:05) Roger shares his observations on giving money, noting that gifts can feel most meaningful when attached to a specific purpose rather than given with expectations.(14:21) Strategies for impactful gifting are explored, including transferring appreciated assets, paying medical expenses, and covering tuition directly, showing ways to help others while maximizing meaning and efficiency.LISTENER QUESTIONS (19:00) Mary shares feedback on qualified charitable distributions (QCDs).(21:27) Lee describes his “shoulder bonus” strategy to spend excess retirement funds while staying within a safe withdrawal rate.(30:10) John asks when to switch from a general financial advisor to a retirement planner(34:19) Rick asks about gifting appreciated stocks to adult children.(35:17) Steve asks about building a resilient retirement plan at age 80.SMART SPRINT (38:13) In the next seven days: Do you want to give? Can you? How much and to whom? Can it have a purpose? Even small gifts can make a big impact.CLOSING THOUGHTS (40:00) Giving money can bring profound joy, often the greatest gift is the one you give yourself by helping others. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

💬 Show Notes In this episode, Roger Whitney kicks off a month-long series on year-end planning for retirement. He shares insights on tax loss harvesting, a technique that can help you minimize capital gains tax. Listen in as Roger explains the basics of capital gains, the importance of proactive planning, and the potential benefits of offsetting gains with losses. Plus, he introduces a smart sprint action item to help you optimize your tax strategy before the year's end! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This podcast is dedicated to helping you rock retirement.(01:07) Roger shares that he recently finished George Orwell’s 1984, his first in a new hobby of collecting classic authors. RETIREMENT TOOLKIT  (03:43) Roger breaks down the basics of tax loss harvesting, explaining capital gains, the difference between short-term and long-term gains, and how they impact year-end retirement planning.(09:17) Roger explains how to implement tax loss harvesting by estimating your realized capital gains, identifying losses in your taxable accounts, selling positions to offset gains, and being mindful of the IRS wash sale rule that prevents repurchasing the same security within 61 days.(16:50) Using losses in taxable accounts strategically can help reduce capital gains taxes. ROCKIN’ RETIREMENT IN THE WILD (18:28) Share your story of rocking retirement at askroger.me to inspire others with your confidence and passion.(19:30) Mark plans to pivot into business consulting after retiring so he can keep learning, adding value, and connecting with people while enjoying more freedom and purpose. LISTENER QUESTIONS (21:54) Richard is preparing for retirement at 67 and asks how he should handle his 401(k) and income to make his plan work best.(25:00) Kathy asked how a new bill will affect those 65+ with year-end tax planning, and Roger said he’ll provide a checklist to guide Noodle subscribers through the changes.(25:42) Karen pointed out that annuity payments aren’t inflation-adjusted and emphasized balancing them with other investments.(30:08) Dan asks: “Where should I keep the cash for living expenses and market downturns?”SMART SPRINT (33:59) Smart Sprint: In the next seven days, review your after-tax investment accounts, estimate year-end capital gains or losses, and consider selling positions with unrealized losses to offset gains while avoiding the 31-day wash sale rule. CLOSING THOUGHTS (35:18) Over Thanksgiving, Roger continued his childhood tradition of watching the Lions lose, ending up jumping in a pool after a bet with his nephew Graham, a devoted Packers fan. REFERENCES 1984- George OrwellSubmit a Question for RogerSign up for The NoodleThe Retirement Answer Man

💬 Show Notes In this Thanksgiving Eve episode, Roger Whitney encourages listeners to carry gratitude into everyday life, emphasizing the value of recognizing specific moments and taking “mental snapshots” of what matters. He also addresses common retirement questions, including how to think about traditional versus Roth IRAs and whether to use IRA withdrawals or pursue Roth conversions. It’s a clear, practical discussion to help you reflect and make informed planning decisions. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you rock retirement (00:40) Roger reflects on thankfulness and gratitude. RETIREMENT TOOLKIT (08:33) Roger gives a quick refresher on the three main types of accounts used in retirement planning and how each is treated for tax purposes. LISTENER QUESTIONS (14:16) Roger walks through how to approach the common dilemma of using a traditional IRA for living expenses versus doing Roth conversions. (26:49) Dominic asks why qualified charitable distributions can’t be used to fund a donor-advised fund, even though the donation is tax-deductible.(30:31) BB and Shell ask whether contributing to a Roth versus traditional 403(b) and 457 plans makes sense given their high current tax rate and plans to retire and move to a lower- or no-tax state. SMART SPRINT (34:35) This week’s Smart Sprint challenges listeners to make thankfulness meaningful by telling someone specifically why they are grateful for them. CLOSING THOUGHTS (35:18) Roger shares his gratitude for listeners and feedback, acknowledges the complexity of retirement planning, and emphasizes his commitment to providing actionable advice while reminding everyone it’s okay not to have all the answers. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

💬 Show Notes In this episode, Roger Whitney dives into the essentials of required minimum distributions, explaining the age thresholds, how the amounts are calculated using IRS life expectancy tables, and how to manage multiple IRAs and 401(k)s. He also answers listener questions, including whether a flexible premium deferred income annuity might make sense and how to determine how much you can safely give to loved ones or charity now. Packed with practical advice and actionable insights, this episode helps listeners navigate the rules and strategies that can impact their retirement planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you have the confidence to rock retirement. THE RETIREMENT TOOLBOX (01:18) In this Retirement Toolbox segment, we take a timely look at required minimum distributions—what they are and how they work for the accounts you own.(03:22) A quick breakdown of the current IRS rules for required minimum distributions, outlining the different start ages based on your birth year.(05:22) How RMDs are calculated using your year-end balance and IRS life expectancy tables.(08:30) When should you take your money out, and what happens if you don’t?(10:48) How to handle RMDs across multiple IRAs and 401(k)s and why long-term planning and account consolidation matter.(14:00) What are some strategies to minimize or mitigate your future required minimum distributions? LISTENER QUESTIONS (15:23) Submit your questions through AskRoger.me, and we’ll help you take a baby step toward a rock-solid retirement.(15:54) Our title question comes from Rich, who asks if a flexible premium deferred income annuity would be a good idea given his retirement savings, Social Security, pension, and minimal debt.(27:14) A listener asks how to determine how much they can safely give to loved ones or charity now, rather than leaving it as an inheritance later. SMART SPRINT (33:22) In the next seven days, estimate your future RMD—even if it’s 10 years away—assuming your IRA or 401(k) grows at a reasonable rate. CLOSING THOUGHTS (34:04) An update on the merger of Tanya Nichols’ and Roger’s advisory firms, with a new unified brand—Retire Agile—coming in 2026 and opportunities for client feedback on branding and design. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManSchwab RMD CalculatorFidelity RMD Calculator

💬 Show Notes In this episode, Roger Whitney explores the psychology of loss aversion and how it affects financial decision-making. He introduces the new Retirement Toolbox segment, offering practical, actionable tools to help you strengthen your retirement plan. We also cover the benefits of Qualified Charitable Distributions and answer listener questions on retirement planning and asset allocation. Don’t miss this insightful discussion designed to help you confidently navigate and optimize your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but rock it PRACTICAL PLANNING SEGMENT (01:00) Roger breaks down loss aversion and how it relates to retirement. THE RETIREMENT TOOLBOX (04:35) Roger launches a new segment on essential financial tools, starting with the Qualified Charitable Distribution, a timely, tax-smart way to give at year-end. LISTENER QUESTIONS (11:53) Wes asks how to build retirement reserves before retirement without triggering higher taxes.(17:12) Roger responds to John’s critique of the “Process Over Panic” episode, clarifying why a retirement plan should be treated as a living, flexible guide rather than a rigid set of rules.(22:52) Feedback from David highlights why factoring early losses in Monte Carlo simulations can boost confidence despite slight double-counting.(26:35) Thoughtful listener disagreements are welcomed as a way to deepen understanding and improve retirement planning insights.(27:43) Thomas has some questions about getting started with a retirement planner. SMART SPRINT (36:07) In the next seven days, anyone within three years of retirement should map out their liquidity and consider reallocating assets to protect against market swings in the early years, avoiding unnecessary risk if funds will be needed soon. CLOSING THOUGHTS (37:05) I've been building a personal library of classics, including fiction and nonfiction, and welcome book suggestions via The Noodle to help expand the reading list. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManThinking, Fast and Slow- Daniel Kahneman

💬 SHOW NOTES In this episode, Roger Whitney explores the art of retirement goal setting with his signature blend of practical advice and thoughtful reflection. He sits down with Cesar Aguirre, who shares how leaving a corporate career led to a purposeful and fulfilling retirement, the evolution of his book, and the importance of aligning goals with personal values rather than just chasing big achievements. Roger also addresses listener questions on planning, discretionary spending, and shifting mindsets around money, offering actionable insights to help create a retirement that’s intentional, joyful, and aligned with personal values. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but rock it(01:07) The cost-of-living adjustment for Social Security was announced. ROCKIN’ RETIREMENT IN THE WILD WITH CESAR AGUIRRE (02:05) Roger talks with Cesar about his book and how he is rockin’ retirement.(02:41) Roger introduces Cesar Aguirre, author of Retirement with Purpose: The 10 R's for a Joyful Retirement.(05:55) At 65, Cesar realized many people approached retirement without a plan, inspiring him to document his process so others could find structure and clarity in their own journey.(08:35) The pandemic slowed Cesar’s busy career, prompting him to shift from focusing on leaving work to discovering what he was retiring to.(11:35) Cesar shares how a five-year assignment abroad led to a permanent move to the U.S. in the early ’90s, marking a pivotal shift in his life and career.(12:25) Cesar reflects on cultural views of retirement, blending Mexico’s family-centered “jubilación” with the U.S. ideal of independence to create a more balanced, proactive approach to this new season of life.(14:51) There are 10 R’s in the book, starting with Review.(17:25) Roger asks Cesar how to answer the question, “What do I want?”(20:17) Cesar explains that creating his book with a service purpose removed pressure, letting him focus on making it useful, reach a broader audience, and now develop a Spanish edition.(21:56) Cesar encourages newly retired listeners to create structure, revisit plans, and embrace retirement as a journey with purpose. LISTENER QUESTIONS (24:18) In an audio question, Gary, who will retire in 2026, shares how managing “old” retirement savings feels different from spending a paycheck and asks for guidance on navigating this shift in mindset.(33:56) A listener, who chose to remain anonymous, asks how to distinguish between the essentials of a “base great life” and the discretionary spending that falls into the “wants” category.’(35:55) A listener praised Roger’s shift from chasing big goals to focusing on values and creating conditions to explore life personally and meaningfully.(38:20) Dennis asks about the Retirement Podcast Network, and Roger explains that while it’s still active, he and Taylor Schulte decided to prioritize other projects and let this one remain on the back burner. SMART SPRINT (40:01) In the next seven days, reflect on the phrase, “you can’t take it with you.” BONUS (41:03) In this wrap-up, Roger addresses listener feedback from a past episode on organic food. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManRetirement With Purpose: The 10 R's for a Joyful Retirement: A practical and thoughtful guide to rediscovering yourself and flourishing in the retirement stage.- Cesar Aguirre

💬 Show Notes  In this episode, Roger Whitney wraps up our four-week series on smarter retirement goal setting. He dives into the ideas of buoyancy and Maslow’s hierarchy of needs, showing how they play a role in planning a retirement that actually works for you. Using two relatable avatars – the Grinder and the Dreamer – Roger shares practical, real-world strategies to help navigate the twists and turns of retirement planning. Tune in for insights that will help you make your retirement not just secure, but truly rock!  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This is the last of a four-week series on better retirement goal setting PRACTICAL PLANNING SEGMENT (01:58) The first concept for today is the concept of buoyancy.(04:50) Roger talks about Maslow’s hierarchy of needs.(07:50) A look inside the Advice Lab Roger runs with his work team.AVATAR CASE STUDY- THE GRINDER AND THE DREAMER (10:10) Introduction of two avatars created by the team — the Grinder and the Dreamer.(10:58) First, Roger breaks down the Grinder.(14:27) What are triggers that might help a grinder reevaluate retirement planning?(16:57) What do Grinders crave?(18:50) How do you navigate as a Grinder or as someone in a relationship with a Grinder?(21:50) The pillars of retirement are a helpful framework when it comes to Grinders.(27:00) Next, Roger breaks down the avatar of the Dreamer.(29:30) What are the triggers that a Dreamer faces?(32:30) Roger breaks down the retirement pillars for Dreamers.(37:00) Roger reflects on how his partnership with Tanya mirrors the Dreamer and Grinder archetypes, showing how balancing vision and execution can lead to better communication and more effective retirement goals. LISTENER QUESTIONS (38:14) You can submit questions at AskRoger.me(38:40) Barbara shares thoughts on a recent episode.(42:04) Roger shares an audio clip from Tom.(44:27) One listener shares that drawing down the accounts is a mental challenge.(45:49) Rod asks what portion of a 71-year-old’s $5–6M retirement portfolio could go into low-risk private credit. SMART SPRINT (48:38) In the next seven days, reflect on where you fall between Dreamer and Grinder and consider that when setting or refreshing your retirement goals, so you can better balance your approach.REFERENCES Sign up for our next Webinar!Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManMaslow's Hierarchy of Needs

💬 Show Notes In this episode, we continue our four-week series on better retirement goal setting with Roger Whitney. This week, we delve into the dynamics of navigating retirement goals as life unfolds and the concept of opportunity cost. In the second half, Roger has enlightening discussion with Dr. Bobby, where he explores the pros and cons of organic food and its relevance to our health and finances. Discover how to align your retirement goals with your evolving self and make informed choices about your lifestyle. Tune in for practical insights that can help you rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This is week three of a four-week series on better retirement goal setting, plus Roger chats with Dr. Bobby about the cost-benefit of buying organic.(02:55) Roger encourages registration for his next live meetup at livewithroger.com. PRACTICAL PLANNING SEGMENT (03:40) Roger reflects on setting goals that will align with the current version of you and also who you are becoming.(05:44) Roger explores how goals evolve over time, the barriers that make it hard to recognize and adapt to those changes, and a simple protocol to help ensure your goals stay aligned with what matters most.(07:15) Priorities shift over time as what once mattered may lose importance and new values emerge.(10:27) Life events like health changes, family needs, or loss can rapidly reorder goals.(12:41) Common barriers to noticing change include inattention, sunk cost fallacy, and social pressure.(16:01) Regular reflection helps keep goals aligned with what’s truly important.(20:05) Review spending regularly to ensure it reflects your current priorities. CHAT WITH DR. BOBBY (23:20) Roger introduces Dr. Bobby to talk about organic foods.(25:52) What are organic foods?(29:03) Dr. Bobby breaks down the cost of organic food.(33:00) What are the benefits of organic food? Is it worth the cost?(38:15) Roger acknowledges that some people feel strongly about buying organic as a way to take control of their health.(40:57) 80% of the US population doesn't get enough fruits and vegetables.(42:16) Dr. Bobby breaks down the ROI on buying organic.(48:23) If you do buy organic, which products should you buy?(52:20) Bobby talks about his podcast and the power of positive thinking when dealing with illness. SMART SPRINT (53:13) In the next seven days, pull out your retirement plan of record and review your goals. REFERENCES  Live Long and Well with Dr. Bobby- podcastSign up for our next Webinar!Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man

In this episode, Roger Whitney continues his four-week series on retirement goal setting, focusing on the importance of building agile retirement goals. He emphasizes creating the right conditions for discovering what you truly want in retirement, rather than fixating on specific desires. Roger shares insights on self-discovery, the anatomy of goals, and the significance of establishing a solid foundation for a fulfilling retirement. Tune in to learn how to navigate your retirement journey with confidence and purpose! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This week Roger talks about building agile retirement goals. PRACTICAL PLANNING SEGMENT (03:10) The intent is to build goals that are more meaningful to you so you can rock retirement.(07:00) How do you set goals that are meaningful to you in an agile way?(07:39) You want to start with self-discovery and establishing or revisiting your values.(09:53) Focus on creating conditions to explore your values and build a life where fulfillment naturally follows. (13:43) You have to experiment to determine what is right for you.(18:30) Roger talks about the anatomy of a goal, specifically low stakes goals that maximize optionality in retirement planning.(21:08) Roger talks about high stakes goals.(25:04) Low-stakes goals help you experiment, make confident decisions, and discover what truly supports a fulfilling retirement.  LISTENER QUESTIONS (27:30) Roger answers Melissa’s questions about rolling over an IRA without penalty and whether to trust a flat-fee fiduciary firm that offers to manage her accounts. (33:06) Greg asks Roger to revisit healthcare before Medicare. (34:17) Rob asks about deferring Social Security to age 70 and whether he still receives COLA increases in addition to the 8% delayed retirement credit.(36:03) Chris asks about using only a total world stock and bond index for his portfolio.(40:20) Roger advises keeping a local contingency fund so you always have accessible cash and don’t feel “cash poor.” SMART SPRINT (43:20) Go back to your retirement goals and the plan you’ve put together. Look at them through the lens of our recent discussion RESOURCES Sign up for our next Webinar!Scarcity Brain: Fix Your Craving Mindset and Rewire Your Habits to Thrive with Enough- Michael EasterSubmit a Question for RogerSign up for The Noodle FOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode, Roger Whitney kicks off a four-week series on retirement goal setting, tackling the paradox of knowing what you want in retirement. He discusses the challenges of articulating desires for a life stage that many have never experienced, emphasizing the importance of not oversimplifying retirement goals. Tune in to explore how to set the right conditions for a fulfilling retirement and avoid the pitfalls of external scripts and societal expectations. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING (01:32) We are starting a four week series on retirement goal setting.(02:44) Why “What do you want to spend in retirement?” isn’t the right question.(05:54) Next week, we'll talk about how to be more nuanced when setting retirement goals.(09:40) The problem with following other people’s scripts(13:14) The problem of getting too detailedLISTENER QUESTIONS (16:36) Am I required to keep an Inherited IRA separate from my other IRA's or can it be combined with an existing IRA for simplicity?(19:11) Richard wants to noodle on the retirement distribution order.(23:40) I’m 3-5 years from retirement. Is now the right time to join Rock Retirement Club?(26:29) Estate preparation hint from Jane on the three passwords a family needsSMART SPRINT (28:19) In the next seven days, revisit your retirement goals.EXTRA (29:11) Shauna and I are celebrating our 35th wedding anniversary this week!REFERENCES Submit a Question for RogerSign up for The NoodleFOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

SHOW NOTES In this episode, Roger Whitney sits down with Carl Richards, a financial advisor-turned-artist, to talk about keeping retirement planning simple and meaningful. They dive into the idea of “elegant simplicity,” the importance of knowing your goals, and making decisions that actually work for you. Plus, hear inspiring stories from club members to help you rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) The ultimate goal in building a retirement plan of record is elegant simplicity CHAT WITH CARL RICHARDS (02:00) Roger introduces Carl Richards.(03:50) Carl started sketching to help explain complex financial concepts.(07:33) Roger asks Carl about his new book coming out in October.(11:00) Roger and Carl talk about the differences between simplistic and elegant simplicity in retirement planning.(17:55) How do you decide when you have enough information to make a decision?(22:19) There are many different types of decisions that need to be made- Decisions where you need a lot of research versus decisions where you already have all of the information.(26:58) Writing makes decisions tangible versus rehashing them in your brain(28:19) Carl talks about mimetic desire and figuring out what it is that you really want.(39:45) Carl says he loves the idea of experiment design.(41:40) Carl talks about living a life of meaning.(46:50) There is a deep source of identity and purpose that comes from work. When you remove that, what do you replace it with?(52:58) Carl talks about competing values.(55:00) Roger talks about the Retirement Life Lab in the Rock Retirement Club SMART SPRINT (56:43) In the next seven days, review your retirement plan and look for ways to simplify it so it’s easier to manage. CONCLUSION (57:37) Roger says that what stuck out to him from the conversation is how difficult it can be to truly know what we want and how easy it is to just grab someone else’s goals, when what we really need is to slow down and take the time to define our own so we don’t end up living a life that doesn’t fit us. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManBehaviorGap.com- Carl RichardsFOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

SHOW NOTES In this episode, we tackle the often-overlooked topic of taxes in retirement with expert Erin Coe, an enrolled agent. Discover how to avoid unexpected penalties and interest on your IRA distributions and Roth conversions. We also share an inspiring retirement success story from Lottie, reminding us of the importance of clarity and simplicity in planning. Tune in for practical advice that will help you rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today Erin Coe joins Roger to talk through penalties and interest during retirement, what those things are. ROCKIN’ RETIREMENT IN THE WILD (01:30) Lottie says she got caught up in ideas about the perfect retirement and it was getting in her way. PRACTICAL PLANNING SEGMENT WITH ERIN COE (03:31) Today we're going to talk about penalties and interest when it comes to taxes.(04:52) Erin explains the difference between a tax penalty and interest.(11:14) Roger asked Erin how to calculate an estimated quarterly tax if not doing safe harbor?(13:55) Erin shares her tips on tax returns.(16:08) Being prepared is always better than being taken by surprise when it comes to taxes. LISTENER QUESTIONS (16:40) Roger makes a correction on a past statement.(17:25) Jeff asks a question about the pie-cake explainer video.(20:30) Dave asks a question about helping his elderly mother with her finances.(26:11) Robert asks about getting two mortgages near retirement. SMART SPRINT (32:15) Over the next seven days, download the 1040 form and review how it applies to your retirement income. Decide whether you’ll handle taxes through estimated payments, safe harbor payments, or automatic withholdings from distributions. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManIRS.gov Forms FOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

💬 SHOW NOTES In this episode, we focus on empowering you to navigate retirement with confidence. We break down the process of reading a Social Security statement, examining each section and its significance. Additionally, we tackle listener questions regarding retirement strategies, second mortgages, and Roth conversions. Join us for practical insights that will help you make informed decisions as you approach this new chapter in life. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today on the show we are going to walk through how to read a social security statement.(01:10) Roger talks about doing extensive blood work every year and the similarities between the protocol of blood tests and retirement planning. PRACTICAL PLANNING SEGMENT (09:52) Sign up for the Noodle to watch a video of Roger walking through the Social Security statement.(10:30) Roger breaks down the Social Security statement section by section- go to SSA.gov to get a pdf version of your statement.(17:07) Roger reads through a few of the Important Things to Know bullet points on page two of the statement. LISTENER QUESTIONS (21:21) Jeff asks if there is any difference in retirement strategy if he decides to delay retirement until age 70.(25:22) Mary says she is going through a divorce at age 63 and recently started listening to the podcast to educate herself on retirement and asks for advice for finding a retirement planner.(29:36) Julie says her husband is looking at sudden retirement at age 59 ½. She wants to know if there are any episodes or resources Roger can direct him to to get a great overview of retirement. (32:48) Joy has a question about ROTH conversions. SMART SPRINT (34:18) In the next seven days, make sure you have your most recent Social Security statement. REFERENCES  Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManSocial Security Administration FOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode of the Retirement Answer Man, Roger Whitney sits down with Peter Lazaroff, Chief Investment Officer at Plancorp, for a thoughtful conversation on the power of simplicity in retirement planning. Together, they unpack the common traps of overcomplicating investments and the cognitive biases that often lead us astray. Peter also offers valuable insights into private equity and other complex investment strategies—highlighting when they might help, and when they might hurt. Don’t miss this episode if you're looking to build a retirement plan rooted in clarity, confidence, and peace of mind. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today Roger chats with Peter Lazaroff about bringing simplicity to retirement planning strategies.(02:44) We tend to overcomplicate everything when it comes to retirement planning.(04:09) Complexity makes us think something is better or more sophisticated.(05:35) “Anything one needs to market heavily is either an inferior product or an evil one.”- Nassim Taleb ROCKIN’ RETIREMENT IN THE WILD (06:22) Todd shares reflections on why he travels in retirement. INTERVIEW WITH PETER LAZAROFF (10:16) Think of your assets that you need to rock retirement in their own bucket, if you have excess- put it in its own bucket.(11:05) Complex investments are just active managers in a different wrapper.(11:45) Peter Lazaroff joins Roger to discuss retirement investing and private equity.(12:25) Peter discusses his books and announces that he has a new one coming out in 2026.(15:00) The core intent of retirement planning is to have core confidence that you can live the life you want now, but also when you're ninety.(15:51) Ultimately the goal in retirement planning is elegant simplicity. (20:00) Peter reflects on the business of investing.(23:02) Investing creates an illusion of control.(26:38) Peter discusses the benefit of simplicity and how it helps living heirs when it is time to settle an estate.(28:33) Roger chats about an executive order paving the way for private equity to become part of 401ks.(30:08) Peter talks about the steps of the probabilistic decision framework.(35:48) From 2020 to present, private equity has not added return over public equity.(38:30) If the yield is high and you can’t find the risk, it doesn’t mean it's not there.(42:08) Private investments are not inherently good or bad, but they are not necessary and can add complications.(42:50) Peter shares an example of complexity that he would be more welcome to.(47:25) If you don’t believe in traditional active management- you should be out on private investments. SMART SPRINT (48:00) In the next seven days, choose one area—retirement planning, investments, or any aspect of life you want to improve. Before adding anything new, ask: What can I remove or simplify first? REFERENCES Plancorp- Your Financial Life AdvocatePeterLazaroff.com: Free Book BOOKS Scarcity Brain- Michael EasterAntifragile: Things That Gain from Disorder- Nassim Nicholas TalebMaking Money Simple: The Complete Guide to Getting Your Financial House in Order and Keeping It That Way Forever- Peter Lazaroff FOLLOW US ON SOCIALS! Follow Us on FacebookFollow Us on Instagram

💬 Show Notes In this episode, we explore the intricacies of navigating Medicare in 2025 with Medicare expert Danielle Roberts from Boomer Benefits. Discover the recent changes in Medicare Advantage and Part D plans that could impact your healthcare decisions. We also share inspiring stories of individuals embracing life in retirement and discuss the importance of reviewing your Medicare options annually. Tune in for valuable insights and practical tips to ensure you make the best choices for your health coverage! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today on the show, we are going to explore how to navigate Medicare in 2025 ROCKIN’ RETIREMENT IN THE WILD (01:30) Roger shares a story from a listener who was “jolted” into action.(03:00) Jamie says she plays mahjong with a group of retired ladies and started a book club. PRACTICAL PLANNING SEGMENT (04:55) Roger introduces Danielle with Boomer Benefits to chat about Medicare(05:25) What is the state of Medicare right now?(10:25) How important is it to pay attention to the annual notice of change?(12:15) What are the key things to pay attention to when they get these notices?(17:41) Medicare Advantage is heavily marketed and people have strong opinions about Medicare Advantage versus original Medicare.(25:05) Roger talks about the company- Boomer Benefits.(26:40) What is the service level of Boomer Benefits? What kind of support do you get after you enroll? LISTENER QUESTIONS (31:26) Visit Askroger.me to submit questions.(31:46) Terri asks for reputable sources for buying health insurance after retirement.(35:40) Beth asks a question about the Affordable Care Act and putting contributions into an HSA account without an employer deduction.  SMART SPRINT (38:36) In the next seven days, put a date on your calendar for October to review your healthcare coverage BONUS (39:30) Roger shares about what he has been doing in Colorado for the last three weeks.REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManBoomer BenefitsMedicare.govInflation Reduction ActHealthcare.gov FOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

💬 SHOW NOTES In this episode, we explore the implications of the saying 'nothing is for free' in the context of retirement planning. Join Roger Whitney, a seasoned retirement planner, as he shares a heartfelt story from a listener, David, who exemplifies the spirit of 'rocking retirement.' Additionally, Roger tackles the critical question of whether to accept a free retirement analysis from brokers, discussing the potential costs and consequences involved. Tune in for insightful advice on navigating your retirement journey with confidence! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Roger Whitney: This podcast is dedicated to helping you rock your retirement ROCKIN’ RETIREMENT IN THE WILD (01:06) David emailed in saying he and his wife are leaning into rocking retirement. PRACTICAL PLANNING SEGMENT (03:00) Our title question today came from Phil- he wants to know if it is worth going through free retirement analysis.(07:15) What are some of the cautions or things you want to understand about free retirement analysis? LISTENER QUESTIONS (13:37) Doug shares feedback about my Smart Sprint on being present.(15:11) Rick says he'd like to simplify portfolio.(19:30) Cliff sent in a question about stress testing your retirement plan.(27:09) Dave has a question about moving a 401k to an independent advisor upon retirement.(32:55) Bob asks which retirement plan should you use first: Social Security or savings. SMART SPRINT (38:10) In the next seven days, pay attention to “free” offers—whether it’s a retirement analysis, discount, or credit card perk—and notice the hidden costs or unintended consequences that may come with them. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManFOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode, Roger explores how naming and recognizing the different phases of life can bring clarity to the retirement journey. A listener’s question about inherited money sparks a conversation about direct indexing—what it is, when it makes sense, and what to watch out for. He also shares how to navigate calm, choppy, and rough waters in retirement planning so listeners can move forward with more confidence and control. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today we will talk about direct indexing and answer some more of your questions.(01:04) Roger talks about acknowledging and naming things in life.(04:19) There are four levels that Roger wants to acknowledge with clients- calm waters, choppy waters, rough waters, and change of course. ROCKIN RETIREMENT IN THE WILD (08:55) Brian says he focuses on spending time with family in retirement.(09:20) Don says electric bikes are game changers. PRACTICAL PLANNING SEGMENT (10:30) John asks a question about direct indexing.(13:17) Direct indexing is when you buy the individual stocks of an index in your own account instead of a fund, allowing for tax benefits and customization but with more complexity.(16:32) Should you do this if you are concerned about taxes? What are the benefits? The drawbacks?(20:38) Roger says exchanging traded funds has some advantages over indexing. LISTENER QUESTIONS (21:20) Scott has a follow up question about getting a mortgage in retirement.(28:45) An anonymous listener says it's too late for long term care and wants a recommendation for a low risk investment.(35:40) Our next question comes from John related to being an executor for an estate.(39:17) Dan asks a question about rebalancing. SMART SPRINT (43:46) In the next seven days, take a small step by naming the season of life you’re in—calm, choppy, rough, or changing direction—so you can better focus your energy on where to lean in right now. UP NEXT (44:40) Next week Roger chats with Tanya Nichols on the show and answers some of your questions. REFERENCES  Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManFOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode, Roger Whitney welcomes elder law expert Kathy McNair to discuss the often-overlooked but crucial topic of elder care, especially for those retiring solo. They explore what elder law really means, how it differs from traditional estate planning, and why having the right legal documents—like healthcare proxies and powers of attorney—is vital for protecting your future and legacy. Alongside practical insights on guardianships and conservatorships, Roger shares a fresh perspective on gratitude and contentment as essential mindsets for a meaningful retirement. Plus, he answers listener questions and wraps up with a special personal announcement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today on the show, we are going to start exploring elder care with an expert in the area, Kathy McNair.(01:06) Let’s talk about gratitude and contentment. ROCKIN RETIREMENT IN THE WILD (04:40) Roger and Kimberly are embracing retirement as an opportunity to live fully and give back and reconnect with things that matter most. INTERVIEW WITH KATHY MCNAIR (06:26) Roger introduces Kathy, an elder attorney and founder of seniorsolutionsinfo.com and SoloAllies.com(08:16) Kathy explains elder law and talks about her background.(10:20) What is the difference between a guardianship and a conservatorship? (12:00) Roger says one of his clients has a question about his aging mother and how to approach the situation.(17:26) Is a power of attorney enough when someone is not cognitively capable?(21:33) Kathy talks about starting SoloAllies.com.(25:35) For seniors who are aging without close family, the key is to start building your team while you’re still healthy and capable. (31:30) The hardest role to solve sometimes is the healthcare proxy role. LISTENER QUESTIONS (33:07) Submit questions on AskRoger.me.(35:45) Joe asks a question about the interview with Charles Ellis.(42:30) Joe asks “Can you explain some comments in Charles Ellis book?”(45:00) Brian says he’s thinking of doing an NUA with company stock. SMART SPRINT (49:13) In the next seven days, pick an activity and don’t listen to music or a podcast or anything. Be Present. BONUS (49:00) Roger explains that Agile Retirement Management has merged with Align Financial. REFERENCES SoloAllies.comKathy McNair- SeniorSolutions.comSubmit a Question for RogerSign up for The NoodleThe Retirement Answer Man FOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode, Roger Whitney returns after a month off, ready to help you rock your retirement! He answers listener questions on a range of topics, including the benefits of choosing between Fidelity and Vanguard, the Rule of 55 for 401(k) withdrawals, and inherited IRA distributions. Roger also chats with  discusses the importance of finding the right retirement coach. Join us for practical advice and insights to help you navigate your retirement journey! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Roger Whitney answers your retirement questions on today's show ROCKIN’ RETIREMENT IN THE WILD (01:08) Brian says he and his wife are playing pickleball during retirement. CHAT WITH KEVIN LYLES (03:30) Roger talks to Kevin Lyles about a financial advisor versus a retirement coach(06:29) How does someone determine if they need an advisor or a coach?(10:15) Define what you are looking for before finding a coach.(12:44) A good coach will listen and have good intuition about what is really going on. LISTENER QUESTIONS  (14:47) Barb says she was thinking of moving her Fidelity assets to Vanguard.(21:44) Mark has a question about the Rule of 55.(25:53) Craig asks a question about an inherited IRA(27:54) Scott says he has discovered something about TSP withdrawals.(30:53) An audio question about my Switzerland interview with Scott from a few weeks back SMART SPRINT (32:05) In the next seven days, define something you would like to do and find one person who has done this thing. BONUS (35:00) Roger reflects on how he is going to spend the next 5 weeks. REFERENCES The Retirement Collective- BookThe Retirement Coaches AssociationSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManFOLLOW US ON SOCIALS! Follow Us on Facebook!Follow Us on Instagram

In this episode, Roger Whitney welcomes Michael Easter, New York Times bestselling author of 'The Comfort Crisis' and 'Scarcity Brain.' They delve into the concept of overcoming frugality and the evolutionary mismatches that affect our resource management in retirement. Discover how short-term discomfort can lead to long-term growth, the importance of taking the stairs in life, and the psychological implications of our modern abundance. Tune in for insights that can help you not just survive retirement, but thrive in it! *Episode originally aired March 27, 2024 OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [01:04] Today we have Michael Easter, author of Scarcity Brain, on the show. PRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER [02:20] Roger introduces Michael Easter to the show[03:14] The Comfort Crisis falls into the Energy Pillar- building energy so you can show up for your life.[04:30] Roger asks Michael what his objective was in exploring the Comfort Crisis[09:40] Why is it a bad thing to be comfortable?[12:40] How do we start being more uncomfortable?[16:11] The Scarcity Brain falls into the Vision Pillar.[18:00] Why do we have a constant feeling that we don’t have enough?[25:25] Quantifying goals is not always the best thing to do.[29:01] Michael defines what the scarcity loop is. TODAY’S SMART SPRINT SEGMENT [33:21] In the next seven days, take the stairs! Do something that most people don't do.RESOURCES BOOK - The Comfort Crisis by Michael EasterBOOK - Scarcity Brain by Michael EasterStutzRock Retirement ClubFOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

In this enlightening episode, we tackle the often overlooked mental shift required in retirement: transitioning from a saver to a spender. Join us as we revisit a compelling conversation with Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisory Services. We'll explore the psychological barriers many face in letting go of frugality and how to embrace the resources they've accumulated to enhance their lives. Discover practical strategies to gain confidence in spending, overcome the fear of uncertainty, and ultimately, live a fulfilling retirement without the regret of dying with too much money. Tune in for insights that could transform your approach to retirement! *This episode originally aired March 20, 2024 OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [00:30] Overcoming frugality is a major crisis for many in retirementINTERVIEW WITH DAN CROSBY [01:19] Roger introduces Daniel Crosby.[02:50] How do we overcome frugality?[04:30] There are a lot of behavioral things that change when you leave full-time work.[09:45] How to gain confidence in the midst of uncertainty.[17:22] People are wired to avoid regret.[18:01] What are some basic things people can do to overcome frugality?[22:16] You can't undo 40 years of programming in 4 minutes- experiment with behavior and small commitments.TODAY’S SMART SPRINT SEGMENT [25:15] In the next seven days, I challenge you to examine your retirement plan and ask yourself- is there something else I should add that’s important to my life?RESOURCES BOOK - The Soul of Wealth by Dan CrosbyBOOK - The Top 5 Regrets of the Dying by Bronnie WareBOOK - Die with Nothing by Bill PerkinsRock Retirement ClubFOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

In this episode, we explore the journey of retirement through the eyes of Brad, a member of the Rock Retirement Club. Brad shares his experience of moving to The Villages in Florida, detailing his decision-making process, the community's offerings, and how it has transformed his retirement lifestyle. Join us as we uncover valuable insights and tips for anyone considering retirement living, all while enjoying the vibrant atmosphere of this unique community. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY [01:30] Roger introduces Brad and asks how he discovered The Villages Retirement Community in Florida.[09:30] Roger asks Brad what led them to explore 55+ communities.[11:35] Brad explains how The Villages community is organized.[19:14] Roger asks Brad what advice he would give to someone exploring places to retire.TODAY’S SMART SPRINT SEGMENT [22:09] In the next seven days, think about where you are going to live in retirement.RESOURCES The Villages CommunityRock Retirement ClubFOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

All of July we will be replaying some of our popular past episodes. In this episode, we engage with retirement planning expert Michael Kitces as we explore the evolving landscape of retirement planning. Discover the importance of flexibility in retirement spending and how to select the right retirement planner for your needs. We also discuss the implications of dying with too much money and the critical questions you should ask when interviewing potential advisors. Tune in for insights that will empower you to not just survive, but truly rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (0:00) The key to finding a retirement planner is to find someone that puts YOU and not your money in the center of everything.(00:45) Today we have a replay of last year's interview with Michael Kitces.INTERVIEW WITH MICHAEL KITCES (02:11) Roger introduces Michael Kitces and chats about flexibility.(13:30) Michael says as a professional, he does not want to have a client fail on his watch.(19:21) Roger says the quote that comes to mind when he thinks about retirement planning is: “You’re never going to be exonerated from uncertainty, pain, or the need to do work” Stutz(24:00) Most people understand that change is to be expected.(29:05) Michael talks about risk tolerance.(32:55) Michael reflects on the question “How do we help clients actually make better decisions?”(33:51) Tips on how to choose a retirement planner.SMART SPRINT  (45:55) In the next seven days, evaluate the quality of your process for making decisions in retirement.RESOURCES BOOK - Die with Zero by Bill PerkinsBOOK - It’s Not Complicated by Rick NasonKitces.comBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning CenterFOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

All July long, we’re featuring a special replay series of standout episodes—and this week is no exception. Join us for a special episode as we welcome Christine Benz to discuss her book, "How to Retire." In a captivating conversation in the Rock Retirement Club, we dive into topics like long-term care, the 4% rule, investing strategies, and simplification. Featuring insights from Fritz Gilbert, a member of the club and contributor to Christine's book, this episode offers a holistic view of retirement planning. Discover how to balance financial and non-financial aspects for a fulfilling retirement journey. *Episode Originally Aired December 4, 2024* OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN (00:55) We are going to play some past impactful episodes for the whole month of July  INTERVIEW WITH CHRISTINE BENZ (01:28) Today we start off the month with a replay of our interview with Christine Benz.(03:17) Roger asks about the goal for the readers of this book.(04:48) Christine: The goal was to cover retirement in a really holistic way and include as much non-financial as financial information on retirement planning.(06:10) Roger thinks the interview style of the book helped make it more approachable.(08:13) Roger asks Christine about any big, unexpected insights that came up when she was writing her book.(11:12) Fritz Gilbert says I give Christine serious kudos for the approach she took and the amount of homework she did.(12:35) Christine tells Fritz that she loves his methodical approach to dealing with the years leading up to retirement.(14:16) Marla asks Christine if she would change anything if she was writing this book today to accommodate the 2024 election results and also asks about managing portfolios on Morningstar.(18:15) Roger says when it comes to portfolio construction, it's easy to overcomplicate things(21:14) Larry asks Christine what challenges her or confounds her most about her own retirement planning.(23:35) Larry asks “Are you concerned that we may not find people to provide long term care?”(31:08) Kevin Lyles asks Christine about asset allocation in retirement.(37:55) Laura asks: When talking about high quality bond portfolios, do bond funds work?(42:00) Roger asks about indexes and broad diversification. (44:37) Roger says someone had a comment related to some of the research on small cap value and asks Christine her view on having a more diversified small cap value tilt?(48:19) Eric asks “what is the argument for using TIPS (Treasury Inflation-Protected Securities)  for retirees?” (51:28) Roger asks Fritz if he has been simplifying his portfolio or working more on optimization since retiring in 2018.(53:52) Roger says the optimization part of retirement sometimes dominates the conversation.(54:44) Roger asks Christine: Have you found in your own life a balance between making sure you don’t get too complicated in investments?(57:55) Brianna asks Christine what question she has been reflecting on after the 20 interviews?(58:45) Christine she’s been thinking more about whether the concept of retirement is flawed. BONUS (01:01:26) Roger reads an excerpt from his grandfather's WWII journal Resources Mentioned In This Episode Wade Pfau Morningstar  The Retirement Manifest- Fritz Gilbert Daughterhood.org Christine Benz Six Shot Saturday BOOKS How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement - Christine Benz Being Mortal: Medicine and What Matters in the End - Atul Gawande Keys to a Successful Retirement: Staying Happy, Active, and Productive in Your Retired Years - Fritz Gilbert Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future - Roger Whitney

💬 Show Notes This week on the Retirement Answer Man show, we kick things off with a couple of Rockin’ Retirement in the Wild stories from listeners living out their retirement dreams. Then we dive into a mini case study from a listener recently laid off who’s wondering if early retirement is on the table, we’ll walk through the numbers and stress test his plan. We wrap up our month of travel talk with a fun chat with Chris and Cathy about their retirement adventures and how they’re making the most of their freedom to explore.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) In this episode, we wrap up our travel reflections and explore a listener's question about the pros and cons of retiring at age 59.(01:40) Looking ahead, July will feature 'Best of' episodes of the Retirement Answer Man podcast and August will focus on listener questions. ROCKIN’ RETIREMENT IN THE WILD (02:50) Rock Retirement Club member, Pete, has a podcast called Retiring with Enough and that podcast just hit episode 150.(04:04) Listener, Adrianne, sent in a letter about rocking retirement. LISTENER CASE STUDY (04:45) An anonymous listener reached out to share that he’s considering early retirement after a job loss caused by the downturn in the automotive industry. Today, we explore whether he can make it work.(09:20) A breakdown of the listener’s financial situation.(13:35) We have to make some assumptions about investment and will use software to simulate different scenarios.(17:00) Let’s look at the results- a feasible plan is not necessarily resilient. (19:40) Let’s do some basic stress testing to see how your plan holds up when life throws curveballs. TRAVEL STORIES WITH CHRIS AND CATHY (24:52) Two recent retirees, Chris and Cathy, have focused on domestic travel now that work is out of the way.(29:10) Roger: What was one moment that stood out from your entire trip that stands out for each of you?(31:45) Roger: Do you two talk when you're on road trips or do you audiobook or something?(32:23) Chris and Cathy said they retired together and knew they wanted to go back to Jersey.(33:21) Roger: How did you adjust to being together 24/7?(34:55) Chris and Cathy discuss how they will approach travel in retirement. (36:17) Roger: Over a twelve month period, what percentage of time do you travel? And what is the pull to travel so much?(39:36) Roger: Do you think this three months a year travel cycle is a season or do you think this is a new identity as explorers?(42:05) Roger: What tips or suggestions would you give to others who have never traveled internationally or have never planned a big road trip?(46:55) Roger: What is it internally that travel you feel adds to your life? SMART SPRINT (48:19) In the next 7 days, confirm that you have at least two years of safe assets, cash or short-term reserves, to cover your lifestyle expenses not covered by income. Even if your plan looks feasible on paper, test its resiliency. Would it hold up if the market took a hit tomorrow? BONUS (48:55) Now that we’ve finished my grandfather’s journal, to end the show I will share things I’m geeking out on. Today: electric bikes. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManRetiring with Enough Podcast with Dr. Peter GuidryTRAVEL WEBSITES Free Range Fun Hogs- Travel Blog FOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode, we tackle the intricacies of retirement planning and the importance of trusting your financial projections. Join us as we explore the concept of 'productive paranoia' and how it can help you avoid costly errors in your retirement strategy. We'll also hear a heartfelt travel story from Scott, who shares how he embraced international travel after a significant life change. Don't miss this enlightening discussion that will empower you to take charge of your retirement journey! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN  (00:00) This show is dedicated to helping you have the confidence to rock retirement.(01:15) How do you have confidence in your retirement plan?(04:44) How do you quality check your plan?(05:07) Let’s start by talking about the concept of productive paranoia from Jim Collins’ Great by Choice—a mindset of staying hyper-aware, building buffers, and zooming out for perspective to strengthen your retirement plan even when things seem to be going well.(07:09) Quality checking a retirement plan means making sure the inputs and results align with your goals.(08:33) What are the most common unforced errors?(12:21) What are some of the obstacles to quality checking your plan?(13:30) How do we quality check a retirement plan using metacognition?(19:30) What is the benefit of reading your goals out loud?(22:45) Another tactic is running your plan through another system. INTERVIEW WITH SCOTT  (24:40) Roger continues talking about traveling in retirement.(26:20) Roger reads an email from his client Larry, an avid RV traveler.(28:30) Roger introduces Scott for a conversation about international travel.(34:30) Scott shares thoughts about both solo and group travel.(39:30) Scott talks about traveling after his wife of 30 years passed away.(41:25) Some people feel intimidated being the third wheel even when they're invited(43:50) Roger says he is really interested in the micro communities of people who are comfortable enough to travel together.(47:55) Roger asks Scott what advice he would give to people to embrace single traveling.(50:30) Roger reflects on how we often overlook the beauty of our own surroundings and asks Scott what deeper meaning travel holds for him in retirement. SMART SPRINT (53:20) In the next seven days, quality check your plan of record using some of the tools we talked about. BONUS (53:50) Roger reads the last entry in his grandfather’s WWII journal. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManBOOKS Great by Choice: Uncertainty, Chaos, and Luck- Why Some Thrive Despite Them All- Jim Collins TRAVEL WEBSITES Free Range Fun Hogs- Travel BlogRick StevesFOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode, Roger Whitney dives into the essential elements of not just surviving, but thriving in retirement. We kick off with a listener's story about the challenges of early retirement and the important questions that arise during this transition. Then, we shift gears to a practical planning segment on how to rebalance your retirement portfolio as life and market conditions change. Lastly, we hear from Karen and Shannon, two adventurous retired women, as they share their inspiring experiences traveling internationally and building confidence in their new lifestyles. Tune in for insights that can help you rock your retirement! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you rock retirement.(00:54) Next week on the show we are going to talk about how to quality check your retirement plan. ROCKIN’ RETIREMENT IN THE WILD (01:34) A listener sent in an email about her retirement experience. PRACTICAL PLANNING SEGMENT (04:50) In the practical planning segment, Roger reviews how to rebalance your portfolio in retirement.(06:30) What is rebalancing, and why does it matter in retirement?(08:30) How often should you rebalance your portfolio?(09:20) Step 1: Review your actual spending compared to your plan of record.(11:03) Step 2: Adjust or update your projected spending for the year ahead.(13:30) Step 3: Refresh your income estimates and update asset values.(15:19) Step 4: Run a feasibility check—use Monte Carlo simulations or your household balance sheet.(16:01) Step 5: Test your plan’s resilience and update your allocation strategy.(18:45) Step 6: Consider your contingency fund—how much cushion do you need, and how will you refill your 5-year income floor?INTERVIEW WITH SHANNON AND KAREN ABOUT TRAVELING IN RETIREMENT (22:51) Roger talks with Shannon and Karen about traveling internationally in retirement as single women.(31:10) You had several hurdles to overcome.(33:13) Karen says she likes traveling with a group and hiring individual guides.(37:05) Newer tours are much more curated and intimate than they used to be.(42:25) What advice would you give to someone who is single and nervous about traveling internationally alone? SMART SPRINT (47:34) ​In ​the ​next ​seven ​days,​ schedule an hour to an hour and a half during the third quarter of the year for a “retirement rebalancing meeting,” clearly outlining your plan on your calendar so you can prepare and follow through effortlessly. BONUS (48:30) Roger reads from his grandfather’s WWII journal. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer ManTRAVEL WEBSITES The History Chicks PodcastZingerman’s Food ToursRoad ScholarFOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on Instagram

💬 Show Notes In this episode, we explore the joys and motivations behind traveling in retirement. Join us as we discuss why travel is a common goal for retirees, featuring insights from Andrew Motiwala, founder of A Good Life Abroad. Discover how to enhance your retirement travel experiences and learn about the various obstacles retirees face when planning their adventures. Tune in for inspiring stories and practical tips to help you feel 'awake' and engaged in your retirement journey! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:35) Today on the show, we're going to talk about how to improve retirement travel. ROCKIN’ RETIREMENT IN THE WILD (02:26) Two quick rocking life in retirement stories. TRAVEL IN RETIREMENT (04:22) Why do we want to travel in retirement? (10:25) When we're thinking about traveling, what are obstacles?(13:11) Roger talks about types of travel to perhaps overcome some obstacles.(14:00) There are lots of travel opportunities in the United States or even regionally if International travel is too much. INTERNATIONAL TRAVEL WITH ANDREW MOTIWALA (17:22) Roger chats with Andrew Motiwala- the founder of Good Life Abroad.(20:35) The Good Life Abroad helps people live abroad in a vetted curated apartment for a month or two at a time with on the ground support.(24:00) What are the advantages to using The Good Life Abroad versus booking it all yourself?(25:33) Roger asks Andrew his opinion about why people want to travel in retirement.(30:05) Roger asks what people do that take travel to a whole new level?(31:13) What percentage of people who use Good Life Abroad are solo travelers? SMART SPRINT (32:30) In the next 7 days, go somewhere new in your own zip code. Try a new park, museum, trail, or even a local brewery. Step outside your usual routine and give your brain a spark.  BONUS (33:01) Roger reads from his grandfather’s WWII journal. REFERENCES Register for my LIVE WebinarsSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManThe Good Life Abroad FOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on InstagramShow notes created by https://headliner.app

💬 Show Notes In this episode, we wrap up our series on Process Over Panic by focusing on what truly deserves your attention in retirement planning. Plans change, life surprises us, and retirement is unpredictable. But a solid planning process — one you revisit and refine — will help you rock retirement. Join us for an insightful discussion that includes practical advice, personal anecdotes, and answers to listener questions.  SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) In this episode, we wrap up our Process Over Panic series by focusing on what truly deserves your attention in retirement planning. Inspired by Eisenhower’s quote — “Plans are worthless, but planning is everything” — we explore why your process, not your plan, is what will carry you through retirement with confidence. ROCKIN’ RETIREMENT IN THE WILD (01:50) Roger shares a heartfelt retirement message through a set of creative prompts sent by a client PRACTICAL PLANNING SEGMENT (03:40) What should you pay attention to?(04:50) When you are doing retirement planning, you are planning for the future- something totally unpredictable.(06:31) What deserves your attention in retirement planning?(08:04) What is the intent of retirement planning?(09:13) What are the obstacles to achieving our intent?(13:10) Roger talks about how his experience in retirement planning gives him confidence.(13:50) The Four Pillars of Retirement Planning help to build a flexible map for retirement.(17:58) Roger explores the concept of the “Retirement Plan of Record” as a living document—not a one-time decision. Just like in relationships, decisions made once can lose their relevance over time if not revisited and reinforced.(19:25) Roger goes back through the Four Pillars to talk about how often you should revisit them.(24:10) Real-life reactions can reveal mismatches between theory and reality.(25:06) Roger recommends compartmentalizing your retirement planning. LISTENER QUESTIONS (27:30) John says he didn’t like how Roger said “don't follow your retirement plan” in a recent episode.(29:07) Steve asks a question about asset allocation.(31:03) Steven asks which retirement certification to look for in a retirement advisor or coach.(33:02) Anonymous listener says they're looking to purchase financial management software that is secure and does good analysis.(34:41) Susan asks about Medicare penalties and health insurance while still employed after age 65. SMART SPRINT (37:30) In the next seven days, I want you to schedule your retirement planning meetings for the rest of the year. BONUS (38:33) Roger reads from his grandfather’s WWII journal. REFERENCES Register for my LIVE WebinarsSubmit a Question for RogerSign up for The NoodleThe Retirement Answer Man BOOKS The Retirement Collective: Shared Wisdom From Top Retirement Coaches- Retirement Coaches Association FOLLOW US ON SOCIALS Follow Us on Facebook!Follow Us on InstagramShow notes created by https://headliner.app

💬 Show Notes In this episode, Roger sits down with renowned investment expert Charles Ellis to explore what truly matters in retirement investing. Together, they focus on the key elements investors can actually control, the importance of maintaining cash reserves in retirement, and practical strategies to manage inflation risk. Roger and Charles also revisit timeless lessons from Ellis’s classic book, Winning the Loser’s Game, drawing on his decades of experience in investment management. The episode wraps up with thoughtful answers to listener questions on asset allocation, indexing, and rebalancing. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today the show is going to focus on investing.(01:15) Roger explains the pie-cake and says there will be a video in The Noodle this week.(02:38) What can we control and what can we not control in regards to investing?(04:55) Let’s talk about building a retirement portfolio.(06:52) What can you NOT control when building out a portfolio?(09:40) What can you control in retirement planning?  INTERVIEW WITH CHARLES ELLIS (13:24) Roger introduces Dr. Charles Ellis, author of Winning the Loser’s Game.(18:54) Roger asks Charlie about indexing and passive investing.(24:32) Dr Ellis talks about behavioral economics and recommends the book Thinking Fast and Thinking Slow.(27:20) Roger talks to Dr. Ellis about minimizing unforced errors(30:30) How do things change when you're in retirement and need to draw from assets?(35:32) Roger says for an average person, the concept of having all of their financial assets in equities would be unnerving. What advice would you give to someone who doesn’t understand the financial concepts and the kind of volatility comes with this kind of account?(38:43) Dr. Ellis talks about the current administration and the economy and how difficult times don’t last.(42:02) Roger asks Dr. Ellis about his choice to not retire.(46:34) Roger asks a question: What advice would you give me so I don’t look back with regret when I’m your age?(51:34) Dr. Ellis answers a question about fear and worry regarding the future.(54:22) Roger thanks Dr. Ellis for writing his books and helping so many. LISTENER QUESTIONS (54:52) Today's show will focus on investing questions.(55:11) Kevin says he doesn’t understand Roger’s concept of pie-cake- how to allocate your resources to fund your life.(56:28) Vince submitted an audio question about the retirement floor.(59:42) John asks for Roger’s thoughts on investing in multiple index funds versus all-in-one funds. And what is the difference between a mutual fund and an index?(01:08:07) Ben asks about rebalancing and current market conditions. SMART SPRINT (01:12:30) In the next seven days, take an assessment of the process you use when investing your assets for retirement. BONUS (01:13:28) Roger thanks listeners for their positive feedback.(01:14:13) Roger reads from his grandfather’s WWII journal. REFERENCES  Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) Books Thinking Fast and Thinking Slow- Daniel KahnemanRethinking Investing- Dr. Charles EllisWinning the Loser’s Game- Dr. Charles Ellis Show notes created by https://headliner.app

It’s a super-sized episode today—and for good reason. We spend the bulk of the show in a deep, insightful conversation with Dr. Meir Statman, a leading voice in behavioral finance. I also walk you through the four non-financial pillars of retirement: mindset, energy, passions, and relationships. We'll talk about how to manage what you can control—and how to respond when life throws you the stuff you can’t. Plus, we answer a few of your questions. There’s a lot here, but it’s worth every minute. Let’s get to it. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This podcast is dedicated to helping you survive retirement with confidence(00:34) Today on the show we are going to focus on the non-financial realm as we continue talking about process and things we can control versus what we can’t control.ROCKIN RETIREMENT IN THE WILD (02:14) Roger shares an anonymous message from a listener about her husband retiring and the confidence they have built in their retirement.PRACTICAL PLANNING SEGMENT (04:50) Sometimes in retirement planning, we tend to overemphasize the financial side of things and forget about the rest of our lives.(06:23) Roger identifies controllables and non-controllables within the non-financial pillars of retirement. (14:50) Roger talks about some examples of people who focused on things that they could control and found success.(16:19) Roger says that the Rock Retirement Club has been a source of inspiration for him.INTERVIEW WITH MEIR STATMAN (18:13) Roger introduces Meir Statman, author of A Wealth of Wellbeing.(19:34) Roger asks what motivated Dr. Statman to write his latest book.(22:10) Dr. Statman talks about his relationship with Nobel Prize winner, Harry Markowitz(25:57) Roger talks about behavioral finance and what it means from his perspective.(30:02) We talk about financial wellbeing but you also need to focus on life wellbeing.(31:06) Dr. Statman discusses a u-curve in life wellbeing.(37:25) Roger and Dr. Statman talk about accepting who you are.(39:30) Dr. Statman talks about the components of wellbeing.(41:49) Roger asks about social capital in retirement.(49:00) Starting a conversation is really important, Meir says(51:19) What is cultural capital?(57:32) Developing social, cultural, and personal capital becomes harder as you get older.(01:01:38) What is personal capital? LISTENER QUESTIONS (01:04:42) Listener Brian sends a question about generating his retirement paycheck.(01:17:52) Another listener named Brian asks about investing in annuities.SMART SPRINT (01:22:20) In the next seven days, before you get out of bed, smile and tell yourself it is going to be a great day! BONUS (01:22:48) Roger reads from his grandfather’s WWII journal. REFERENCES Nick Vujicic- Motivational SpeakerNelson Mandela Mier StatmanRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) BOOKS Man's Search for Meaning by Viktor FranklI Know Why the Caged Bird Sings by Maya AngelouA Wealth of Well-Being: A Holistic Approach to Behavioral Finance by Meir StatmanThe Second Mountain: The Quest for a Moral Life by David BrooksBowling Alone: Revised and Updated: The Collapse and Revival of American Community by Robert PutnamThe How of Happiness: A Scientific Approach to Getting the Life You Want by Sonja LyubomirskyThinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie Duke

This week, we continue our Process Over Panic theme by focusing on how to take back control in uncertain times. Learn how to shift your energy toward what you can control—and let go of what you can’t. Plus, Marcia Mantell joins us to break down the latest updates on Social Security and what they mean for your retirement plan. Tune in and take one more step toward a confident, purposeful retirement. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not just survive retirement, but rock it!(01:58) We have to focus on things we can control and manage the things that we can’t.(3:08) Today we are going to talk about social security- what we can control and what we can’t.  ROCKIN’ RETIREMENT IN THE WILD (03:52) Roger shares a “Rockin’ Retirement in the Wild” story from a listener and member of the RRC. PROCESS OVER PANIC- SOCIAL SECURITY WITH MARCIA MANTELL (06:30) There have been a lot of changes coming out of the Social Security Administration.(07:40) What is controllable with Social Security?(09:56) What are the uncontrollables with Social Security?(13:51) To help us understand the current state of Social Security, we're talking with Marcia Mantell.(15:38) Marcia says facts over fear are SO important and she is not fearful but watchful.(18:49) What changes have happened recently with social security?(23:00) There are different proposals floating around regarding Social Security to improve the implementation of the program.(25:10) Marcia discusses her thoughts on the idea that Social Security will run out by 2033.(28:55) How easy is it to create a sustainable Social Security system?(31:47) The goal of Social Security is to provide a basic income, roof over our head, and food on the table.(33:10) Over 50% of people rely on Social Security for their primary source of income.(36:10) If you are 55 or older, should you make a material change related to what you anticipate your Social Security to be? SMART SPRINT (40:56) In the next seven days, identify one thing in your retirement planning you can’t control that’s draining your energy. Then, take one small action to shift that focus toward what you can control. Awareness is the first step to rocking retirement—and life. BONUS (41:49) Next installment from missions flown by Roger’s grandfather in World War IIREFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Mantell Retirement ConsultantsSocial Security AdministrationShow notes created by https://headliner.app

💬 Show Notes In this episode, we tackle the pressing question, "Is this time different?" as we navigate the complexities of today's political and economic landscape. Join us as we explore the importance of perspective in retirement planning and discuss the basics of structured notes. We'll also introduce our upcoming events and share insights from renowned experts in the field. Don't miss this enlightening discussion that aims to help you not just survive retirement, but thrive! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) The narratives that you consume and ultimately create for yourself define your reality(00:45) Today we are going to finish up our basics with the basics of structured notes and also talk about “process over panic” regarding the current state of affairs. IS THIS TIME DIFFERENT? (04:10) Roger discusses whether the issues in the economy are different this time around then in times past. (07:40) The point of this discussion is to identify what is happening and how to respond to it.(08:40) A better question when it comes to planning is “Is this time permanent?”(10:58) Roger talks about the current markets versus historical markets.(11:46) Since 1928, there have been around 26–28 bear markets, averaging a 35% drop and lasting about 9.6 months. They tend to come around every five years—and they’ve never been permanent. (12:47) From presidential elections to battles with the Fed, these cycles may feel chaotic—but they’re nothing new and they’re not permanent.(14:31) Roger talks about “process over panic” STRUCTURED NOTES (21:34) Roger goes over the basics of structured notes.(22:17) Roger uses food as a metaphor to break down investments—organic options like stocks and bonds are simple and transparent. But structured notes? They're the Twinkies of the investment world.(25:50) Structured notes at their core are debt. (26:57) Roger compares structured notes to wine—different types, different flavor profiles, and even the same variety can vary from year to year or region to region.(28:31) What are some types of structured notes?(29:22) What should you know about your structured notes?(32:00) Each structured note has a prospectus, a legal document that investment managers are required to create, but they are very difficult to understand(34:21) Roger sees structured notes as a potential building block for a retirement portfolio but avoids them due to their complexity.  SMART SPRINT (36:35) In the next seven days, take five or ten minutes to write out your process for retirement planning. BONUS (37:44) Roger reads from his grandfather’s WWII journal. REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Thomas SowellWall Street JournalClaude AIChatGPT

💬 Show Notes In this episode, we dig into fixed annuities and U.S. Treasuries—how they can bring stability and income to your retirement. We’ll also discuss Social Security risks and how to stress-test your plan so you can retire with confidence. Let’s get you one step closer to rocking retirement! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today we talk about the basics of fixed annuities.(00:59) Roger continues the discussion on navigating retirement planning during uncertain times.(02:06) Listener, Christina, asks Roger to consider stress testing including Social Security for the average potential retiree.(07:17) Roger defines fixed annuities and how they fit into the retirement planning process.(07:54) Roger evaluates the similarities and differences between CDs and fixed annuities.(10:08) What are the negatives of fixed annuities?(12:27) How are the rates of annuities determined?(14:08) What are the primary uses of fixed annuities?(15:12) Roger goes through an example of optimization using fixed annuities. LISTENER QUESTIONS (19:38) Listener, Barbara, asks Roger to educate listeners about the basics of treasuries. SMART SPRINT (24:36) In the next seven days, I want you to shift the way you approach your retirement planning. Think of yourself as a scientist—you're on a mission to discover and understand. When we run these stress tests or feasibility tests, the goal is to uncover where potential risks might exist and where opportunities could be hiding. BONUS (25:25) Roger reads from his grandfather’s WWII Journal REFERENCES  Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Social Security AdministrationTreasuryDirectImmediate AnnuitiesBooks: The Wild Blue: The Men and Boys Who Flew the B-24s Over Germany- Stephen AmbroseShow notes created by https://headliner.app

💬 Show Notes In this episode, Roger Whitney takes on one of the biggest challenges facing retirees today: how to plan confidently when the markets are anything but steady. He’s joined by Dr. Bobby Dubois for a thoughtful conversation about building the energy and vitality needed for a meaningful retirement. Together, they share simple, practical steps to help listeners take charge of their physical well-being—so they can show up strong, not just today, but for years to come. Plus, listeners will hear an inspiring story of someone making real progress on their retirement journey. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Retirement planning is about creating a great life.(01:19) Roger celebrates team members Erin and Troy today.(02:08) Roger reflects on the messaging surrounding the current state of the markets.(04:45) What should you do to cope with the turbulent markets and economy? PRACTICAL PLANNING WITH DR. BOBBY (10:16) Today's practical planning is focused on building energy so you can show up for retirement.(11:00) Roger introduces Dr. Bobby Dubois and talks about his podcast, Live Long and Well.(12:10) Dr. Bobby talks about the basics of building energy.(13:30) The power of compounding little consistent habits over time makes a big difference.(15:20) Roger and Dr. Bobby discuss the importance of weight for overall health.(17:55) What basic things can you focus on to help with building energy?(18:05) Dr. Bobby talks about sleep and gives tips on how to improve sleep quality.(22:45) Exercise is important for building energy- focus on cardio, strength, and balance.(35:10) Dr. Bobby talks about optimal weight and two simple yet effective tips to maintain a healthy weight.(40:00) There will be links to specific episodes of Live Long and Well in our newsletter, The Noodle, this week. ROCKIN’ RETIREMENT IN THE WILD (42:28) Roger reads a note from an anonymous listener about rocking retirement. RETIREMENT ANSWER MAN LISTENER SURVEY (44:45) Roger shares some results from The Retirement Answer Man listener survey. SMART SPRINT (47:14)  In the next seven days, start by putting a few of Dr. Bobby’s ideas into action—get moving and build some momentum around your physical health. Once you’ve got a little rhythm going, shift your focus to tackling the stress that comes with market uncertainty. One step at a time—that’s how we build a more confident retirement.  BONUS (48:24) Roger reads an excerpt from his grandfather's WWII journal. REFERENCES Live Long and Well Podcast with Dr. BobbyRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) BOOKS: Tiny Habits: The Small Changes That Change Everything- BJ Fogg, PHD Show notes created by https://headliner.app

💬 Show Notes In this episode, we break down the essentials of asset allocation and time management in retirement planning. Join us as we explore why it's crucial to focus on the basics rather than getting lost in market predictions and investment products. We also share insightful listener questions and another entry from my grandfather's World War II journal. Tune in to learn how to rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This week we continue talking about the basics with asset allocation.(02:00) Time is your most precious resource.(03:36) Retirement planning is a means to an end.(05:45) We don’t want to waste time on trying to predict the future but on more important things like spending time on and in your life.(06:15) Spend time on the basic building blocks of retirement planning.(07:05) How does asset allocation fit into retirement planning?(09:10) Inflation is the natural increase in the cost of living over time.(13:52) What is asset allocation?(16:10) Part of asset allocation is a concept called diversification.(18:48) What is asset allocation best used for? (21:50) Two of the biggest determinants of where your asset allocation should be are your psychological preference and your time horizon. LISTERNER QUESTIONS (24:13) Steve asks whether they should use a single vendor for all their accounts or diversify where they have their money housed in terms of investment firms.(26:29) The next question comes from Nick related to asset allocation. (32:18) Question from an RRC member about Vanguard offering a direct conversion.(35:48) Audio question from Leah about using IRA contributions to start building out a bond ladder or a shorter term allocation.(39:50) Audio question from Patty who recently retired and needs to decide what to do with her 401k assets and how to choose an advisor. ROCKIN’ RETIREMENT IN THE WILD (49:01) James says he is overfunded for retirement even with a 10%-15% market correction but will aim to do better. SMART SPRINT (50:47) In the next seven days, think about your asset allocation and think about it within time segments. BONUS (51:33) Roger reads from his grandfather’s WWII journal.REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) Show notes created by https://headliner.app --- 🎙️ Thanks for podcasting with Headliner!

💬 Show Notes In this episode, we kick off a month-long series on retirement basics, emphasizing the crucial role of partnership in planning for retirement. We discuss why it's vital for both spouses to be actively engaged in financial conversations, ensuring that neither partner feels overwhelmed or excluded. Plus, we hear inspiring stories from a couple of listeners who are thriving in their retirement journeys! Don't miss this episode! OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN (00:38) We're starting a month-long series on retirement basics.(00:56) Today we are going to talk about what every spouse should know about their retirement plan.(01:45) It's important for each spouse to delegate responsibilities when planning for retirement.(03:00) Roger talks about the pressure of being the retirement planner in a couple and the risks of being the non-planner.  (05:00) Audio clip from our paraplanner Erin about a recent experience volunteering for Tax Aide.(07:40) What spousal participation should there be in retirement planner meetings? And what meetings need to happen?(08:07) Roger goes through the four initial meetings of building a retirement plan of record.(15:19) At least twice a year, the non-planner spouse should participate in a planner meeting to refresh all of these things.(15:30) What should the planner spouse do to help create a productive meeting?(17:45) What are the risks as the financial manager spouse?(19:29) What should non-financial manager spouses do?(22:50) Roger talks about what the non-financial manager spouses should know.(25:30) What should your advisor do if you are working with one? PUBLIC SERVICE ANNOUNCEMENT RELATED TO SOCIAL SECURITY (27:50) WEP and GPO changes are causing confusion with Social Security recipients. ROCKING RETIREMENT IN THE WILD (29:56) Listener shares about the challenges of decumulation and overcoming a lifetime of frugal habits.(32:28) Listener Kathleen talks about dog-sitting in retirement. SMART SPRINT (33:53) In the next seven days, review the time sensitive action items that may apply to you when it comes to the month of April. BONUS (35:19) Roger reads an excerpt from his grandfather's WWII journal.REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) Show notes created by https://headliner.app

💬 Show Notes In this episode, we embark on a journey of navigating retirement amidst uncertainty. Join us as we explore the importance of taking action, building confidence, and reframing our approach to financial security. Listen in as we share practical steps to manage risks, reassess spending, and make informed decisions in these unpredictable times. With insights drawn from real-life experiences and the wisdom of past challenges, this episode aims to empower you to build a resilient retirement, step by step. OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN (00:35) This week’s show stems from a number of conversations I have had with listeners to the show.(02:35) Today, we’re diving into the challenges of retiring in uncertain times, exploring common concerns, potential risks, and the essential steps you should take to secure your future.(03:12) **Political disclaimer**  Today we are going to talk about what is going on in the political world today and how it relates to us in retirement planning.(04:45) Retirement planning should remain as independent as possible from political strategies or opinions.(08:28) What are the dangers that happen during this type of environment?(14:50) The risk lies in how we respond to these dangers and act on our worries.(16:00) We start to let our convictions and opinions about the future bleed into the retirement planning realm and act on the worst fears that we have.(18:00) At the end of the day the questions are:  Am I okay? What should I do?(18:55) What you should focus on is what you can do right now to improve your situation. (19:59) First, I’ll chat with those who already have a retirement plan in place, then I’ll turn to those who haven’t gotten around to it yet and share some tips for both groups moving forward.(27:06) Now let's switch gears to listeners who don’t have a plan yet.(32:05) None of these paths that we walked through have anything to do with what the government is doing. RETIREMENT IN THE WILD (33:04) An anonymous listener shared their retirement journey, thanking the podcast for inspiring positive steps.(34:40) New listener says he started listening to your podcast about a year ago and says Roger’s philosophy from 10 years ago still rings true today(35:40) Listener asks if there is an index of episodes he can search. SMART SPRINT (36:52) In the next seven days, take some of the action steps we talked about today. BACKGROUND ON ROGER (37:30) Roger talks about his origin story and financial experience background. (39:25) Roger goes over his practical experience in the industry. BONUS (43:44) Roger reads another excerpt from his grandfather’s WWII journals. REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) BOOK The Power of Agency: The 7 Principles to Conquer Obstacles, Make Effective Decisions, and Create a Life on Your Own Terms- Paul Napper, Psy. D and Anthony Roo, Ph. D Show notes created by https://headliner.app

💬 Show Notes In this episode, we explore the importance of cultivating curiosity as a part of the non-financial pillar of retirement planning- mindset. Join us as we discuss how curiosity can enhance your mindset and well-being in retirement, along with practical tools to foster this trait. We also address listener questions about retirement strategies amidst economic uncertainty. Don't miss this insightful episode packed with actionable advice! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (01:11) Today, we're going to answer some listener questions related to building a retirement plan and focus on one of the nonfinancial pillars- mindset.(02:10) Roger says he has been doing financial planning for over 35 years and noticed that it seems that the happiest and well adjusted people have a healthy sense of curiosity.(02:55) What is curiosity?(04:50) It is easy as we age to naturally fall into indifference, apathy, and close-mindedness.(06:06) Curiosity drives learning, learning creates cognitive resilience, and cognitive resilience enables further curiosity. (07:05) Let's look at some examples of curiosity and recommend some books.(10:17) How do you build curiosity?  LISTENER QUESTIONS (19:19) Drew asks a question about gifting.(21:51) Tom asks about permissible investments in ROTH IRAS.(26:55) The next question comes from John related to building a retirement allocation for retirement using the pie cake.(32:16) Mary asks about putting money in an HSA or money market account.(37:22) Our next email is from Nick related to target date portfolios for retirement SMART SPRINT (43:05) In the next seven days, work on cultivating curiosity. BONUS (43:57) Roger reads from his grandfather's WWII journal. REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Books “Surely You’re Joking, Mr. Feynman!”: Adventures of a Curious Character- Richard Feynman How to Think Like Leonardo da Vinci: Seven Steps to Genius Every Day- Michael Gelb The Gifts of Imperfection- Brene Brown Blog Rajib Roy- The History of my Future! (First Draft!)Show notes created by https://headliner.app

💬 Show Notes In this episode, we explore the essential steps to setting up your retirement paycheck to ensure financial stability and confidence in your retirement years. Join us as we discuss the importance of tracking your cash flow, identifying spending trends, and creating a structured paycheck system that mimics the rhythm of a traditional paycheck. We also dive into listener questions about MYGAs, private equity, and inheritance planning, providing valuable insights to help you navigate your retirement journey. OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you not go bankrupt in retirement!(00:25) Today we'll talk about how to set up your paycheck ahead of retirement(01:16) Sign up for my weekly newsletter- The Noodle.(01:44) In retirement, you lose the natural pulse of income coming into your checking account so it is important to have a system setup.(03:05) What is the intent in setting up a paycheck in retirement?(07:35) Roger talks about a default paycheck structure and how to set it up.(12:30) What should you do about extraordinary expenditures? (13:14) How should you have your pretax account set up for a retirement paycheck?(17:45) Setting up a retirement paycheck helps identify trends in spending or saving.(19:22) There will be an explainer video exclusive in our weekly newsletter- The Noodle LISTENER QUESTIONS (20:00) I got an email from Bill, a demographer, giving me more insight about the question- “how long should we plan to live?”(24:00) Adam sent in a question about MYGAs- Multi-Year Guaranteed Annuities.(28:43) John sends feedback on our private equity episode.(30:32) David asks how to factor a substantial inheritance into his retirement plan. SMART SPRINT (39:35) In the next seven days, look at your payroll system and how you construct it. BONUS (40:25) Roger reads an excerpt from his grandfather’s WWII journal. REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)The Retirement Answer Man Free Worksheet Library Show notes created by https://headliner.app

  💬 Show Notes In this episode, Roger Whitney tackles the critical question of life expectancy in retirement planning. With statistics from the CDC, he guides listeners through the complexities of determining how long they should plan for their retirement. Roger addresses the cognitive bias known as the "curse of knowledge," providing clarity on how to approach life expectancy assumptions. He also shares insights on the importance of using personalized data rather than general averages, and discusses practical tools for assessing longevity. Tune in for valuable advice that can help you plan confidently for your future! OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN (00:00) What life expectancy should you use in your retirement plan?(00:39) We have a change happening to our Six Shot Saturday email.(02:18) Roger discusses the concept of ‘The Curse of Knowledge.’(03:38) Listener, D.S., sends in a question about life expectancy in retirement.(05:58) Roger discusses how to interpret the data from the Social Security Administration life expectancy calculator.(9:30)  Roger uses age 92 for a male and 94 for a female for a base assumption in retirement planning. LISTENER QUESTIONS (11:26) Thrift savings plans will allow Roth conversion starting in 2026.(12:13) Karen asks about the pie-cake and the purpose of a 6 month emergency fund.(15:35) Karen asks a second question about suggestions for saving vehicles that are not US treasury bonds.(17:27) Evan asks “How does a pension figure into a net worth statement?”(22:00) Gene asks how to look at the total allocation of your retirement portfolio.(25:00) Roger reads feedback from listener Scott about last week’s episode. ROCKING RETIREMENT IN THE WILD  (27:01) Scott has been helping federal employees think through their retirement plans. SMART SPRINT (30:42) In the next seven days, revisit the age you are going to use in your retirement plan. BONUS (31:12) Roger reads an entry from his grandfather’s WWII journal. REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)The Retirement Answer Man Free Worksheet LibrarySocial Security Life Expectancy CalculatorThe Retirement Researcher Show notes created by https://headliner.app  

In this episode, we tackle the complexities surrounding private equity in retirement portfolios. Join Roger as he navigates a listener's inquiry about the necessity and implications of investing in private equity, especially in light of recent discussions and literature on the topic. With insights from investment expert Peter Lazaroff, we explore the pros and cons, the importance of having a solid retirement plan, and whether private equity is truly a beneficial addition to your portfolio. Tune in to gain clarity and confidence in your retirement investment strategy! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Complexity is your enemy. Any fool can make something complicated. It is hard to keep things simple.-Richard Branson(00:38) Today’s episode is about private equity.(01:33) Roger reads an email from listener Dave with a question about investing in private equity.(02:28) Roger says that this episode features his opinion and judgment on private equity.(06:45) Don't think about private equity until you have a vision for what you want your retirement to look like. (10:20) Consider the second order consequence of making an investment.(12:00) Unless you are significantly overfunded and have an interest in private equity- Roger thinks private equity is unnecessary for creating a great life. INTERVIEW WITH PETER LAZAROFF (14:10) Introduction of Peter Lazaroff, author of Making Money Simple(16:39) What is private equity?(17:38) Who is traditionally invested in private equity?(26:12) When markets are under stress, private equity correlations go a lot higher.(27:49) What is the normal fee structure for investing in private equity?(31:15) What you're seeing more often these days are semi-liquid funds that offer liquidity windows.(34:30) There is no evidence to suggest that fewer companies going public is causing an issue.(40:15) We can’t predict when a bad decade of returns is going to come.(41:35) Peter: I am more concerned about implementing a bad idea than missing out on a good one. SMART SPRINT (42:39) In the next seven days, take a moment and remind yourself of the purpose of retirement planning which is to create a great life. BONUS (43:20) Roger reads an excerpt from his grandfather's WWII journal. REFERENCES Tony RobbinsPeter LazaroffWall Street JournalBook- Making Money SimpleRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday! Show notes created by https://headliner.app

💬 Show Notes In this episode, we explore the essential questions of retirement planning with financial expert Roger Whitney and guest Tanya Nichols from Align Financial. They dissect the case studies of Laura and Nick, highlighting their unique approaches to retirement and how their lifestyles influence their financial decisions. Tune in for insights on spending, confidence in planning, and the importance of resilience in your retirement strategy! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Stage one of retirement planning involves answering the central questions(00:54) Today, Roger chats with Tanya Nichols about the Retirement Plan Live case studies. DEBRIEF WITH TANYA NICHOLS (02:40) Roger introduces Tanya Nichols with Align Financial.(03:28) Roger and Tanya discuss Laura’s RPL plan.(05:25) What risks are associated with having a lean spending plan?(08:35) Once people realize they can achieve something, they pause and evaluate reality.(09:58) Roger asks Tanya how she determines how hard to push clients when they're afraid of the next step.(12:10) Tanya and Roger discuss Nick’s RPL plan.(14:50) If you have a plan that is feasible and resilient, you will likely have an inheritance even if it isn't planned for.(17:00) Roger talks about the importance of a resilient plan.(21:18) Roger and Tanya compare/contrast Nick and Laura’s plans(23:10) Roger asks Tanya how she incorporates current world events into retirement and life choices. LISTENER QUESTIONS (25:06) John asks a question about best utilizing extra income.(29:38) Edward asks a question about diversification versus safety. SMART SPRINT (38:21) In the next seven days, I encourage you to start organizing your tax documents and get them to your CPA as early as possible. BONUS (39:34) Next installment of Roger’s grandfather’s WWII journal. REFERENCES Retirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Retirement Plan Live ReplayAlign Financial Show notes created by https://headliner.app

💬 Show Notes In this episode, we tackle the essentials of retirement planning with an engaging discussion led by Roger Whitney. We explore the importance of prioritizing what truly matters in your retirement journey and how to create a resilient plan that secures your desired outcomes. Roger emphasizes that retirement planning is merely a tool to achieve a fulfilling life, not the end goal itself. Joining him is Nicole Mills, who shares insights and updates on Six Shot Saturday and reads listener questions about retirement. Don’t miss this enlightening episode! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:30) Roger says retirement planning is not that interesting, but a means to an end.(01:41) Roger challenges listeners to take action on what is talked about THIS week. PRACTICAL PLANNING SEGMENT (02:50) Retirement planning is a self-interested process.(05:28) What questions do you want to answer in a healthy way?(06:45) Now is the time to make sure you have a resilient plan.(10:54) How do we make a plan resilient?(18:30) Markets are at an all time high, don’t get overly optimistic. LISTENER QUESTIONS (20:05) Nichole Mills joins Roger on the show.(20:45) We have some changes happening with Six Shot Saturday. (22:22) Listener TJ asks about building a bond ladder as he gets closer to retirement.(28:25) Jeff asks an optimization question about withdrawals from assets in retirement.(31:37) DJ is a new retiree and asks how Roger determines whether to make withdrawals annually, semi-annually, quarterly, or monthly.(36:30) Bill says he interviewed a financial planner and asks for clarification on fiduciary and non-fiduciary advisors. ROCKING RETIREMENT IN THE WILD (39:30) Roger talks about his new segment.(40:45) Listener Jeff talks about his retirement, irrational fears of the unknown, and how his plan gave him confidence. SMART SPRINT (43:50) In the next seven days, if you are within three years of retirement, get a resilient plan of record in place. BONUS (45:40) Roger shares the next mission from his grandfather’s WWII journal. REFERENCES  Retirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!

💬 Show Notes In this episode, we explore the complexities of retirement planning amidst a rapidly changing economic landscape. Join us as we discuss the importance of having a structured decision-making process and avoiding unforced errors that could jeopardize your financial future. We also share insights on how to navigate uncertainty in the market and the significance of clarity in your retirement planning. Don't miss out on the actionable tips that could help you rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:55) In a couple of weeks Roger will talk with Tanya Nichols and do a recap of the Retirement Plan Live Series(01:49) Roger talks about not flying by feeling through retirement for the practical planning segment this week. PRACTICAL PLANNING SEGMENT (02:15) A few weeks ago we had the announcement of the Chinese AI engine- Deepseek.(03:45) The new presidential team is seemingly focused on a shock and awe strategy in changing the rules of government and economy.(05:45) Roger uses driving to Colorado as an analogy to managing an uncertain economy in retirement.(09:35) “We do not want to fly into retirement just by our gut.”(10:14) What are the causes of unforced errors in general?(13:40) What are some signs that you are not following a good process? (16:00) The process that you have should be focused on defining the true objective.(18:56) Next week Roger will talk about resilience. LISTENER QUESTIONS (19:30) Roger says all of this change is disruptive, and worrisome.(20:00) We are going to share the 2025 important numbers worksheet in Six Shot Saturday. (20:40) Listener Mary says it's better to be alone than wish you were.(21:55) Clem says he learned the hard way that you are replaceable at work.(25:40) Wade asks about managing real estate in retirement and how to find financial advisors. ACTION IN THE WILD (29:45) Roger got an email from listener Todd about the actions he has taken from listening to the podcast. SMART SPRINT (33:13) In the next seven days, write out, as specifically as possible, the pillars and steps in your retirement planning process. BONUS (35:38) Roger reads from his grandfather's WWII journal  REFERENCES  Align FinancialNational Association of Personal Financial AdvisorsRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!The Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies for Financial Freedom by Tony RobbinsShow notes created by https://headliner.app

In this final episode of the Retirement Plan Live series, we welcome back Laura and Nick to discuss their unique perspectives on investment risk and aging, particularly from the viewpoint of individuals without a traditional support network. They share their insights on how to navigate financial planning while maintaining a fulfilling life in retirement. Join us as we explore the importance of resilience and community in retirement planning, and don't miss the upcoming live events for deeper engagement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today is the last in the Retirement Plan Live series with Laura and Nick.(00:45) On this episode Roger will talk about retiring as a single person with no children. LAURA’S VIEWS (01:58) Laura says she doesn’t want to spend her retirement just managing finances.(06:52) Roger asks Laura about her experience with markets and risks in investment.(12:15) Roger asks Laura what her ideal situation would be for housing and how she plans to maintain her home as she ages.(15:50) "As we age, the current pulls us to isolation." Roger talks about Laura’s social plans in retirement.(18:25) One area that Laura is going to have more evolved skills is living alone and navigating socially as a single person.(21:19) On January 30th, Roger and Laura are going to review Laura's vision in a LIVE webinar. NICK’S VIEWS (22:36) Roger asks Nick if there is anything else that has come to mind from previous conversations on the show.(25:30) Roger and Nick talk about investing when it comes to risk in stocks and bonds.(29:05) Roger weighs in on becoming more financially conservative in early retirement.(35:52) Nick reflects on aging and maintaining his home as a single man with no children.(37:45) Nick says he lives in a multifamily home with a robust community with a senior center.(47:50) Roger talks to Nick about living in a metropolitan area and volunteering in retirement.(53:12) On February 3, Roger and Nick are going to review Nick's vision in a LIVE webinar. SMART SPRINT (55:22) In the next seven days, visit the Hartford website link that we share in Six Shot Saturday to explore the MIT Age Lab studies. BONUS (56:58) Roger reads from his grandfather’s WWII journal. REFERENCES Retirement Answer ManRegister for the Retirement Plan Live results webinars!The Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Meals on Wheels Show notes created by https://headliner.app

💬 Show Notes Join us in this episode as we celebrate a special birthday and dive into the intricacies of retirement planning with our ongoing case study featuring Laura and Nick. Discover the unique financial journeys of Laura, who built her assets in the private sector, and Nick, who leveraged his military and government service benefits. We explore the importance of understanding your resources, conducting feasibility tests, and redefining the concept of retirement. Get insights into how setting clear goals, managing assets, and maintaining health and fitness can lead to a fulfilling next phase of life. Plus, learn how to participate in our live results show and open house for the Rock Retirement Club. Tune in for a wealth of knowledge and inspiration! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Today is Roger’s birthday(00:50) Today we talk about the resources that Nick and Laura have(01:40) One thing that's critical in doing a retirement plan of record is knowing what's feasible(04:50) When you work just because you want to, you look at decisions differently. LAURA’S RESOURCES (07:11) Laura talks about care for her elderly mom.(08:00) Laura reflects on her goals and values from last week’s episode.(10:11) Roger and Laura talk about health and fitness.(13:50) Today we talk about how Laura will pay for her goals and the three sources of capital.(19:08) Roger asks about human capital and Laura’s plans.(20:23) Laura and Roger discuss financial assets.(27:05) Roger asks Laura about her house and debt.(28:35) Laura discusses end of life plans for her aging mother.(30:30) Now we need to do a feasibility study.(31:12) Laura asks Roger about taxes.(35:45) Next week we will talk about risks. NICK’S RESOURCES (36:05) Roger asks Nick how the year has started for him and asks what his word for 2025 might be.(37:55) Today Roger and Nick discuss the three sources of capital that are needed to fund Nick’s goals.(42:55) Roger asks Nick if he plans to work at all after retirement.(44:00) They discuss Nick’s financial assets and investments.(47:00) Roger inquires about Nick’s expected inheritance.(50:20) Nick discusses his current debt.(51:08) Roger asks Nick what he splurges on for himself. SMART SPRINT (54:49) In the next seven days, I challenge you to update your net worth statements. BONUS (56:16) Roger reads another excerpt from his grandfather's WWII journal. RESOURCES Retirement Answer ManRegister for the Retirement Plan Live results webinars!The Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Social Security Administration BOOKS Unreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect- Will Guidara Show notes created by https://headliner.app

Welcome to the latest episode of the Retirement Answer Man Show, where we explore the journey to a fulfilling retirement. Join us as we continue our live case studies with Laura and Nick, who share their goals and aspirations for their ideal retirement life. This episode offers insights into planning for a future that aligns with your values, including discussions on long-term care, financial independence, and the importance of self-reflection. Plus, we tackle a listener's question about retirement planning conferences and share details about our upcoming Rock Retirement Club Roundup. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:30) We are on week 2 of our LIVE case studies with Laura and Nick.(01:30) Question from listener Brad about retirement planning conferences.(03:35) We will share the agenda from the 2024 Roundup in our Six Shot Saturday email. LAURA’S GOALS FOR RETIREMENT (04:30) Laura reflects on talking about herself on the show.(08:30) Laura talks about her mom and helping her navigate old age.(12:20) This week we're going to focus on turning your values into goals.(13:35) Laura shares her estimated monthly expenses to maintain a base great life.(16:07) Laura talks about her transportation and car buying habits(18:40) Laura discusses potential home improvements in the next 10 years.(20:05) Laura estimates the cost for her moms continued care.(23:12) We estimate an annual travel expense for 15 years.(28:00) Next week, we'll examine what resources you have to pay for your life NICK’S GOALS FOR RETIREMENT (28:35) Today we're going to talk about what Nick wants for retirement(30:15) What does it cost to live the life of Nick on an annual basis?(31:24) Nick talks about healthcare costs.(33:25) We talk about other nonnegotiables for Nick.(34:20) Nick talks about travel plans in retirement.(36:33) Nick discusses his desire to be able to leave some money to his nieces and nephews.(39:40) Nick plans to leave some money for the charitable organizations he supports.(41:55) Nick talks about purchasing longterm care as he ages versus joining a continuing care community.(46:25) Are you planted community wise? Is this where you're going to be longterm?(48:17) Was there anything that you wanted to put on that lifestyle design worksheet that you didn’t? SMART SPRINT (50:55) In the next seven days, grab the retirement lifestyle workbook from our Six Shot Saturday email and start to think about what it is that you want in retirement. BONUS (51:55) Roger reads from his grandfather's WWII log. RESOURCES Retirement Answer ManRegister for the Retirement Plan Live results webinars!The Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Books Die With Zero: Getting All You Can from Your Money and Your Life by Bill PerkinsThe Five Regrets of the Dying by Bronnie WareAuthor- Arthur BrooksShow notes created by https://headliner.app

This episode explores the exhilarating concept of "rocking retirement," inspired by Hunter S. Thompson's famous quote. Join us as we dive into the stories of Laura and Nick, two people on the brink of retirement, each with unique paths and values. Discover how they plan to embrace retirement as single individuals, and learn the importance of identifying your personal values to achieve a fulfilling life. Plus, find out how to participate in our upcoming live events and gain insights into crafting your retirement journey. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (01:14) Agile Retirement Management focuses on helping people go all in on their retirementMEET LAURA (06:35) Introducing Laura(11:14) Laura is caring for her mother in addition to working full-time(13:07) Her thoughts on living alone from a social standpoint and replacing the social network of coworkers(15:07) Laura’s hobbies(16:13) Laura says she lives within her means and is very frugal(18:18) Laura’s top 10 values(20:00) Her experience and perspective on losing friends to cancer at a young age(22:46) The importance of making your own decisions, not always doing what society saysMEET NICK (29:19) Roger introduces Nick(30:26) Why Nick volunteered for retirement plan live(33:00) Nick was a budget analyst in the military for 22 years, then transitioned to civil service(34:49) Nick is ready to leave government work(39:12) What is it about a paycheck that changes Nick’s feelings about work?(41:56) Nick’s values exercise(44:41) Why is travel a common goal in retirement?(47:58) Reading the list of Nick’s values(53:00) Values direct our goalsSMART SPRINT (55:01) Grab the values worksheet and complete itBONUS (55:13) Roger’s grandfather's log from World War II Resources: Sign up for 6-Shot Saturday.Register for the Retirement Plan Live results webinars!Book - Essentialism: The Disciplined Pursuit of Less by Greg McKeownThe Retirement Answer Man Free Worksheet LibraryRetirement Podcast Network

💬 Show Notes Welcome to 2025! In this episode, we kick off the new year with Tanya Nichols from Align Financial to discuss the unique considerations of retiring single with no children. As part of our January series, Retirement Plan Live, we explore the journey of two individuals, a man and a woman, both navigating retirement alone. From planning for legacy and financial security to building a supportive social network, we delve into the complexities and opportunities faced by singles at or near retirement. Join us as we unpack the essentials of retirement planning for singles and set the stage for the month-long exploration of their stories. PRACTICAL PLANNING SEGMENT (00:00) The show is dedicated to helping you not just survive retirement, but have confidence (01:20) This January, we're focusing on two individuals facing retirement as a single person with no children. (04:02) Tanya Nichols from Align Financial discusses retirement planning for single people (05:30) 90% of the journey is the same but there are just slightly different considerations. (07:15) If you're single and facing retirement, what are some things that are overlaying on top of the normal planning process? (10:20) I think another thing that’s missing is having a thinking partner to exchange ideas and worries with. (12:35) It’s very difficult to make a new, old friend. (15:48) You have to be intentional about making connections and building a network of support. (17:32) When we think about the future, we think about long term care but one thing we don't think about as much is who is going to help with the day to day. (20:35) As you're single and retiring does this lean towards a safety first approach in terms of taking money that you have and turning on guaranteed income? (22:15) As you’re aging by yourself, sometimes you are not aware of cognitive issues. (23:30) Even if you are married, there will be a point in your life where one of you are single LISTENER QUESTIONS (24:51) Lauren asks about a new mortgage product that merges your mortgage with your personal banking. (27:31) Jim asks about tracking down old 401ks. (30:04) Greg asks a question about being the tax preparer for the family and his aging mother. SMART SPRINT (34:10) In the next seven days I want you to establish a file for year end statements from all of your accounts and any tax information you get from those providers. BONUS (35:23) Roger reads another excerpt from his grandfather's WWII journal. REFERENCES Align Financial- Tanya Nichols https://www.align.financial/tanya-nichols/ Roger Whitney https://rogerwhitney.com Book- Gospel of Wealth  by Andrew Carnegie https://www.carnegie.org/publications/the-gospel-of-wealth/ Mark's Money Mind Podcast https://marksmoneymind.com Life Changer Loan https://lifechangerloan.com Show notes created by https://headliner.app

In this special Christmas Day episode, we explore the art of reflection as we approach the end of 2024. Join us as we dive into Tanya Nichols' year-end reflection protocol and challenge ourselves to look back on our successes, failures, and lessons learned. We'll also answer listener questions on topics ranging from Roth contributions to mortgage strategies. Plus, get a sneak peek into 2025 with upcoming episodes focused on retiring single and live case studies. Don't miss this opportunity to glean wisdom and set intentions for the new year. PRACTICAL PLANNING SEGMENT  (00:45) It is a good time of year to reflect on 2024 (03:00) Today we are going to work through Tanya Nichol’s end of year 2024 worksheet. (03:47) What are some successes you achieved this year, professionally and personally? (06:15) What are some failures this year that you're not proud of? (06:56) What are some things you wish you had done in 2024? (07:27) What are things that you thought were really critical last year that are meaningless now? (08:03) The next category for 2024 reflection is what made me truly happy in 2024? (09:10) What made you deeply sad this last year? (10:00) Next category. Something new I discovered about myself this year (10:50) What did you love in 2024? (11:12) When you reflect on 2024, what seasons are ending for you? (12:15) What new seasons are coming? (14:20) My theme for 2025 is outdoors. I want to be outdoors more next year. (15:00) Our team word for 2025 is HONE.  LISTENER QUESTIONS (15:51) Bob asks about Roth contribution limits as a low earned income household for 2024 (18:11) Listener Brian has found a way to keep his brain active by attending college courses to work on his Mindset nonfinancial pillar. (21:01) Our next question comes from Jim related to paying down a mortgage (26:50) Nancy just wanted to share her gratitude as a long time listener of the show. SMART SPRINT (27:17) Grab the intention worksheet that we're going to share on Six Shot Saturday and reflect on your 2024 BONUS (28:06) Roger shares the next entry from his grandfather's WWII journal Show notes created by https://headliner.app

💬 Show Notes Join us in this episode as we delve into the complexities of retirement planning with Dr. Daniel Crosby, author of The Soul of Wealth. Discover the importance of learning what to ignore and how to trust your inner voice amidst the noise. We also explore the nuances of health management with Dr. Bobby Dubois, discussing how to tailor your health journey to your unique style. Plus, get a sneak peek into the upcoming Retirement Plan Live case study and exciting changes for the show in 2025. (00:30) Today we are going to talk to Doctor Daniel Crosby and Doctor Bobby Dubois (04:20) Retirement Plan Live starts in January. We will have two subjects this go round, both are retiring single, with no children. (05:30) In 2025, the show will be more focused on retirement. INTERVIEW WITH DANIEL CROSBY (06:20) Welcome Doctor Daniel Crosby to the show. (07:00) We are going to focus on a chapter in The Soul of Wealth, Learning What to Ignore. (08:15) Daniel: I feel like our attention is being pulled in negative ways...We live in a world where we are utterly unprepared for the amount of information coming our way. (10:35) Daniel: Going back to the top of your funnel and figuring out what you want can be deeply obscured by focusing on the wrong thing. (12:35) Daniel: The reason that we are at the top of the food chain is our ability to work cooperatively together and part of working together is benchmarking with each other. (13:20) Roger: Whatever your vision is should be a reflection of your values. (17:55) Roger: We have to know what to pay attention to when it comes to practical planning so we don't spend too much time focusing on the wrong thing. What are those filtering questions? (19:05) Question 1:  Do you have a reason to believe the accuracy of this information? (21:31) Question 2: What is the motivation of the person giving forecast or information? (26:20) Daniel: That which we obtain too easily, we esteem too lightly. (27:15) Question 3: Will I care about this in the next 5 years? (29:29) Daniel: “Given the state of everything,” is kind of how everyone feels all the time. (30:30) Last question: Does this matter to my finances or my soul? (33:40) Daniel: When people look back on their lives, they don’t care about work and money all that much. INTERVIEW WITH DR BOBBY DUBOIS (35:50) Dr. Bobby Dubois joins us to talk about energy and retirement. (36:41) Today we are going to talk about HOW we approach our health. (38:06) Bobby: One size fits all doesn't reflect our personality types. How things motivate us are not the same from one person to another. (40:02) Roger: Quote from Neal Stephenson might apply to today's longevity discussion. Most of us are too busy living our lives to think about longevity. (41:35) Bobby: There are five different health types and there's a quiz to identify them (42:11) Bobby: The first type is the holistic health hacker, wellness is front and center. (43:52) Bobby: Next is single minded achievers, they focus on one or two things and can get tunnel vision.  (45:55) Bobby: Purposeful path planners are folks who are motivated about their health but can get overwhelmed by information. (47:39) Bobby: Contentment creators have mastered the art of enjoying life. Life is front and center and health is secondary. (49:40) The last type is the smallest in my database, hopeful health seekers. They keep at it and don’t give up but they haven’t found the way toward health. (51:17) Bobby talks about Roger being a purposeful path planner. (55:36) Roger: There's a difference between deciding, indecisive, and undecided (59:40) Your health type may change over time. SMART SPRINT (01:05:42) IN the next seven days, I challenge you to use Dr Crosby’s focusing questions to strengthen the muscle around what you should pay attention to and what you should ignore. BONUS (01:06:23) All right, mission number seven and eight, July 8, 1944. Ship number 188, sortie 5th Vienna Show notes created by https://headliner.app Rational optimism ✍️ Episode References Dr. Daniel Crosby https://www.danielcrosby.com/ The Soul of Wealth https://harriman.house/books/the-soul-of-wealth/ Dr. Bobby Dubois https://www.drbobbylivelongandwell.com/ James Clear https://jamesclear.com/ Cal Newport https://www.calnewport.com/books/deep-work/ The Rational Optimist: How Prosperity Evolves- Matt Ridley https://www.amazon.com/Rational-Optimist-Prosperity-Evolves-P-s/dp/0061452068

In this episode, Roger discusses the impact of our relationship with "stuff" on our retirement journey. With the holiday season upon us, we're all about giving and receiving, but how does this accumulation affect us long-term? Michael Easter, author of The Comfort Crisis and Scarcity Brain, joins the conversation and shares insights on distinguishing between gear and stuff. Michael shares insights on the psychological and societal influences driving consumption and offers practical tips for making more mindful purchasing decisions. We also address listener questions on topics like the tax implications of campaign promises and master limited partnerships. Tune in for a thought-provoking discussion that might just change the way you view your possessions and retirement planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [01:00] Our relationship with stuff can have second and third order consequences in retirement[01:50] How watching the Buy Now documentary inspired Roger to think about possessions[03:10] The impact of clutter on retirementGEAR VS. STUFF CHAT WITH MICHAEL EASTER [05:40] How the amount of items in the average home has changed over time and why[07:36] Michael Easter defines gear and stuff [09:39] Humans evolved to get as much information as possible[12:00] Managing gear vs. stuff in holiday shopping[12:45] How ecommerce platforms have taken features from casinos to help speed purchases[14:25] Strategies to reduce needless purchases[19:50] Roger’s plan for gifts this yearLISTENER QUESTIONS [23:45] David’s comment on verse and versus[24:55] Mary on how to ask better questions[26:26] Armand asks why we aren’t discussing potential elimination of income tax on Social Security[30:41] Todd has a question about master limited partnership stocksSMART SPRINT [38:00] Be aware of your purchases this holiday season - are you buying gear or stuff?Resources Mentioned In This Episode Michael Easter Cal Newport Books: The Comfort Crisis and Scarcity Brain by Michael Easter Netflix documentary Buy Now Six-Shot Saturday

Join us for a special episode as we welcome Christine Benz to discuss her new book, "How to Retire." In a captivating conversation at the Rock Retirement Club, we dive into topics like long-term care, the 4% rule, investing strategies, and simplification. Featuring insights from Fritz Gilbert, a member of the club and contributor to Christine's book, this episode offers a holistic view of retirement planning. Discover how to balance financial and non-financial aspects for a fulfilling retirement journey. INTERVIEW WITH CHRISTINE BENZ (01:26) Rock Retirement Club welcomes Christine Benz to chat about her new book, How to Retire (02:40) Roger asks about the goal for the readers of this book. (04:00) Christine: The goal was to cover retirement in a really holistic way and include as much non-financial as financial information on retirement planning. (05:09) Roger: I was surprised that you did the book in the interview style, I think it helped make the book more approachable. (07:24) Roger: Did you have any big insights that were unexpected? (10:18) Fritz: I give Christine serious kudos for the approach she took and the amount of homework she did. (11:47) Christine to Fritz: I love your methodical approach to dealing with the years leading up to retirement (13:19) Marla asks Christine if she would change anything if she was writing this book today to accommodate the 2024 election results and also asks about managing portfolios on Morningstar. (17:28) Roger: When it comes to portfolio construction, it's easy to overcomplicate things (20:30) Larry asks Christine what challenges her or confounds her most about her own retirement planning. (22:53) Larry asks “Are you concerned that we may not find people to provide long term care?” (30:11) Kevin Lyles asks about asset allocation when you retire (30:47) Christine: My chapter on asset allocation addresses the bucket approach, which I do find very customizable. (36:56) Laura asks: When you talk about high quality bond portfolios, do bond funds work? (41:06) One question I have when we're talking about indexes is about broad diversification.  (43:42) Roger: Now someone had a comment related to some of the research on small cap value. Do you have any view on that research on having a more diversified small cap value tilt? (47:19) Eric asks “what is the argument for using tips for retirees?”  (50:24) Roger asks Fritz if he has been simplifying his portfolio or working more on optimization since retiring in 2018. (52:50) Roger: The optimization part sometimes dominates the conversation. (53:38) Roger asks Christine: Have you found, even in your own life, a balance between making sure you don’t get too complicated in investments? (56:45) Biranna asks after 20 interviews, what question now rests in your mind? (57:40) Christine: I've been thinking more about whether the concept of retirement is flawed (58:59) We're going to share a link with members offering a discount to Morningstar. (59:55) Next week on the show, we're going to chat about with Michael Easter about Gear vs Stuff BONUS (01:00:30) Roger reads an excerpt from his grandfather's WWII journal REFERENCES Wade Pfau Morningstar  The Retirement Manifest- Fritz Gilbert Daughterhood.org Christine Benz Six Shot Saturday BOOKS How to Retire: 20 lessons for a happy, successful, and wealthy retirement- Christine Benz Being Mortal: Medicine and What Matters in the End- Atul Gawande Keys to a Successful Retirement: Staying Happy, Active, and Productive in Your Retired Years- Fritz Gilbert Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future- Roger Whitney Show notes created by https://headliner.app

Welcome to another episode dedicated to enhancing your retirement journey! Today, we wrap up our series on year-end action items with a focus on charitable and family giving. Discover how strategic charitable contributions can optimize your tax plan and learn about family giving opportunities that can make a difference. We also address your questions and share essential updates, including a correction on HSA contribution limits and an exciting upcoming live case study. Plus, get ready for a December packed with insightful guests like Christine Benz and Michael Easter. Dive in and explore ways to rock your retirement with confidence! PRACTICAL PLANNING SEGMENT (00:30) Today we are going to talk about charitable and family giving. (00:53) I misquoted the HSA contribution limits in episode 565 (02:40) In January we are doing another Retirement Plan Live series. 03:50 In December we will have several great guests on the podcast including Christine Benz, Daniel Crosby, Michael Easter, and Tanya Nichols. (04:21) Today we're going to talk about charitable and family giving (05:30) There's no real impact from a tax perspective on charitable giving unless you itemize your tax return. (07:41)What are ways of giving to a charitable organization? (12:00) You can batch your charitable contributions into one year in order to have a significant impact on the tax you pay in reduction. (14:42)  Let’s talk about family giving. You can give up to $18,000 a year in family giving. (16:44) You can pay family educational expenses and medical expenses without limit as long as you are paying directly to the institution. LISTENER QUESTIONS  (18:00) I had a discussion with a member of the Rock Retirement Club yesterday about moving to a warmer state in retirement and helped analyze the feasibility of their plan in the different states. (25:14) One question related to the upside portfolio, do I have to build a whole asset allocation? (28:45) Our next question is an audio question related to rebalancing. “Hi, Roger. I have a question about the process of rebalancing your pie cake… what process should I use to refill layer two of my pie cake to continually fund the next five years of my life?” SMART SPRINT (37:55) In the next seven days review your charitable and family giving. BONUS (38:15) Roger shares another excerpt from his grandfather's WWII journal. REFERENCES Simon Sinek- Originator of Humble Pie Quotehttps://simonsinek.com/ Red Crosshttps://www.redcross.org/ Schwab Donor-Advised Fundhttps://www.schwabcharitable.org/ Fidelity Donor-Advised Fundhttps://www.fidelitycharitable.org/ Upcoming Podcast Guests: Christine Benzhttps://www.morningstar.com/people/christine-benz Michael Easterhttps://eastermichael.com/ Daniel Crosbyhttps://orion.com/thought-leader/daniel-crosby Tanya Nicholshttps://www.align.financial/tanya-nichols/ Retirement Podcast Networkhttps://retirementpodcastnetwork.com/ Six Shot Saturdayhttps://rogerwhitney.com/six-shot-saturday Show notes created by https://headliner.app

Join us in this insightful episode as we continue our series on year-end action items, focusing on optimizing your retirement planning. Today, we delve into the intricacies of withdrawing assets, discussing everything from flexible spending accounts to inherited IRAs. We also explore the concept of "gear, not stuff" with insights from Michael Easter, and how making thoughtful purchasing decisions can impact your financial health and the environment. Don't miss our deep dive into tax strategies and the importance of building a resilient retirement plan. Plus, we answer listener questions about decumulation, working with financial advisors, and more. Tune in to take actionable steps toward a secure and fulfilling retirement! PRACTICAL PLANNING SEGMENT (00:00) This week we continue to discuss year end action items to optimize your retirement planning (00:50) We are gearing up for a retirement plan live case study for January. This time we will be focusing on someone who is single with no children. (02:10) Roger shares an anecdote about having his kitchen cabinets painted and discusses gear versus stuff. (05:00) Roger discusses the importance of buying high quality items that last. (07:25) Today we're going to talk about accounts we should consider withdrawing money from before the end of the year. First up are FSA accounts. (08:14) The next accounts we are going to talk about are inherited pre-tax accounts. (09:30) If you inherited an IRA prior to January 1, 2020, your required minimum distribution is required to be taken out by the end of this year. (10:48) What happens if you inherited an IRA after 2020? (12:25) Since the Secure Act 2.0 started in 2023, the penalty for not taking the required minimum distribution is 25% of what you should have taken. (13:35) The next type of required minimum distributions we are going to talk about are those that are age related for original IRA owners. (15:03) Proactively taking qualified distributions can lower your overall tax rate in retirement. LISTENER QUESTIONS  (20:44) Next Month, we'll focus on answering some of your questions on AskRoger. (21:12) The first question comes from Scott about principal versus interest and decumulation. (28:59) Next, Joy says she needs help with retirement planning and decumulation of assets. (32:45) Mike asks about decumulation and resilience. How should pre-retirees position retirement assets as they reach the last five years or so before retirement? (39:11) Tom asks about the five year rule for Roth 401k conversions. SMART SPRINT (41:08) Take a look at the items that we talked about in terms of withdrawing assets. BONUS (41:45) Roger reads another excerpt from his grandfather's war journal. REFERENCES Ask Roger https://www.rogerwhitney.com/askroger Michael Easterhttps://twopct.com Dinkytown Calculators- specifically the 1040 tax estimatorhttps://dinkytown.net Schwab Required Minimum Distribution Calculatorhttps://www.schwab.com/ira/ira-calculators/inherited-ira-distribution-calculator Six Shot Saturdayhttps://6shotsaturday.com Show notes created by https://headliner.app

Join us as we dive into year-end financial planning strategies to optimize your retirement plan. This episode unpacks the essentials of contributing to various accounts like 401(k)s, IRAs, Roth IRAs, HSAs, and donor-advised funds before the year ends. We also discuss Roth conversions and answer listener questions about IRMAA brackets and required minimum distributions. Plus, hear a special tribute to veterans, featuring the first mission of Roger’s grandfather, a WWII bomber pilot. Don’t miss this comprehensive guide to maximizing your retirement savings and honoring those who served! SMART PLANNING SEGMENT (01:01) Rock Retirement Club is having its last open enrollment for the year. (02:26) This month the theme has been to look at year end planning items in order to optimize your plan of record. (03:40) This week we focus on contributing to assets between now and the end of the year. We will start off by discussing contributing to your 401K account. (05:30) The second thing we want to look at is contributing to an IRA or Roth IRA. (08:37) The next account you might consider contributing to is your health savings account. (10:07) Another thing you might consider contributing to is a donor advised fund or any type of charity. (15:03) The next one I’ll talk about today is 529 education plans. (17:00) Another account you might want to contribute to is your after tax investment account. LISTENER QUESTIONS (20:00) Roger talks about 51 missions that his grandfather flew during World War II in honor of Veterans Day. (21:10) Reid is concerned about IRMAA in 2026 regarding Roth conversions. (24:35) David asks a question about projected required minimum distributions for Roth conversions. (28:30) Joe asks about tax brackets and Roth conversions. (31:13) Denise says the more she reads about Roth conversions, the more confused she gets.  SMART SPRINT (35:00) If you want to try to do some optimization, grab the worksheets from Six Shot Saturday and go through the lists. IN HONOR OF VETERANS DAY (35:54) In honor of Veterans Day, I'm going to share some missions from my grandfather to thank all of our veterans. REFERENCES  Six Shot Saturday Rock Retirement Club Retirement Answer Man- FREE Resource Center Show notes created by https://headliner.app

Welcome to a transformative episode where we delve into year-end financial strategies to optimize your retirement planning. Join us as we discuss tax-loss harvesting with Erin Coe, a seasoned planner and tax expert. Learn how to strategically sell capital assets at a loss to reduce your tax burden and explore the nuances of capital gains, wash-sale rules, and more. Plus, we answer listener questions about Roth conversions and annuities. Don't miss this insightful guide to maximizing your financial health! PRACTICAL PLANNING SEGMENT (00:25) Today on the show we begin to explore year-end action items. (02:23) So now that we're into tax season, we're going to do a primer on tax-loss harvesting with Erin Coe. (03:59) Tax-loss harvesting is the act of intentionally selling capital assets at a loss (05:25) Defining what a capital loss is (08:42)The intent is to reduce taxable income and reduce taxable liability  (10:12) How do you gauge the impact of this? (13:34) Leave some buffer room to be careful on tax cliffs (15:35) The wash-sale rule means you can't sell a capital asset and claim that loss and then repurchase it within 30 days (21:27) What are some gotchas that we need to watch out for when evaluating portfolios? (22:24) Another problem is those carry forwards, you need to track it every year whether you are using it or not. (25:38) Tax loss harvesting is not just a December activity, it’s a year-round sport LISTENER QUESTIONS (28:05) Greg asks a question about Roth conversions for his older relative (34:24) Stanley says his wife has a taxable MYGA, multi year guaranteed annuity, and wants to know if he should take the lump sum or roll it into something else. (40:28) Jay asks about the pie or bucket approach SMART SPRINT (46:50) Review your after-tax accounts looking for unrealized losses and examine whether you can use them productively  Join our live event on Roth conversions at livewithroger.com or sign up for the replay at sixshotsaturday.com. REFERENCES  Dinkytown.net Turbo Tax Retirement Podcast NetworkSix Shot Saturday Retirement Answer Man

Welcome to our latest episode, where we focus on empowering your retirement journey with clarity and energy. Today, we delve into two powerful mental models, Occam's Razor and Hanlon's Razor, to simplify your retirement planning and decision-making processes. We also welcome back Dr. Bobby Dubois in our Rock Life segment, where he shares insights on living longer and more energetically. Don't miss our discussion on practical steps to enhance your life and retirement. PRACTICAL PLANNING SEGMENT (00:55) Roger will host a live online meetup on November 7 to discuss ROTH Conversions (02:30) Today we are going to talk about Occam’s Razor and Hanlon’s Razor (04:20) Occam’s Razor talks about when confronted with multiple options, the simplest is the best. Don’t overcomplicate things. (05:20) How to apply Occam's Razor in retirement planning (10:43) Hanlon's razor says never attribute to malice that which can be adequately explained by  incompetence or ignorance (12:15) Humans are messy and are usually not trying to harm or cause problems (12:50) How do you apply Hanlon’s Razor to retirement planning? INTERVIEW WITH DR. BOBBY (15:53) Today we are going to focus on building energy and discuss four different studies about inflammation. (17:00) The first study talks about how sleep impacts inflammation. (21:45) The next study discusses measures of inflammation that can be tested in the blood and what they suggest. (26:05) Third study shows exercise can improve our sleep and reduce inflammation (28:20) One study looked at five characteristics of an 80 year old to determine who was more likely to live to 100. (30:54) The takeaways are, there are things we can do that can really help us live long and well. Sleep, exercise, and diet can really make a difference in longevity.  SMART SPRINT (32:40) I want you to look for an opportunity to practice Occam’s or Hanlon’s Razor in the next seven days. Six Shot Saturday Email  Retirement Answer Man Webinar Registration Books: The Great Mental Models- Shane Parrish Podcasts: Live Long and Well with Dr. Bobby- Episode 3: Sleep

In this episode, we delve into the concept of the Circle of Competence, a key principle in the mental mindset arsenal. We also feature Karen's inspiring story of transitioning from accumulation to decumulation, redefining her retirement journey. Join us as we explore the importance of deep knowledge versus surface understanding, and how you can apply these insights to your life. Also, don't miss our upcoming live online meetup on November 7, where we'll discuss Roth conversions and introduce the Rock Retirement Club. Sign up at livewithroger.com and take the first step towards rocking your retirement! PRACTICAL PLANNING SEGMENT (00:00) This week we will talk about the Circle of Competence and decumulation  (01:05) Live online meet up 11/ 7 at 7pm central about Roth conversions and RRC Open House (04:33) The internet creates false competence and internet experts (07:05) Circle of competence says individuals should focus their efforts within areas where they have a deep understanding or expertise  (07:32) Warren Buffett is a master at staying within the Circle of Competence  (12:10) Your competence in retirement is informed by your experience and research (14:00) How do you know who is competent at some level in retirement planning? (15:10)  As competence goes up, sometimes confidence can diminish (18:40) If you’re not in your Circle of Competence, what should you do? (21:30) How do you gauge someone's Circle of Competence? INTERVIEW WITH KAREN ABOUT DECUMULATION (24:27) Karen shares her story and journey to understanding decumulation (25:20) Karen became a widow five years before she retired from pediatrics at age 62 (26:50) Karen learned from the RRC about the concept of decumulation (29:30) Second Order consequence of not touching principal  (33:00) Karen talked about a degenerative issue from a vision standpoint in your family (35:56) I asked RRC members for recommendations on where to go, what to do (38:00) Karen recaps her travels as a single elderly lady traveling alone and with groups (40:29) So I'm thinking of you in decumulation, that change in conception and seeing in detail that it’s okay to spend x amount of money on various things. SMART SPRINT (43:11) In the next seven days, I want you to think about the distinction between accumulation and decumulation. REFERENCES Great Mental Models-  Rhiannon Beaubien Shane Parrish Into Thin Air- Jon Krakauer Live Long and Well with Dr. Bobby Overseas Adventure Travel The History Chicks Podcast Road Scholars The Soul of Wealth- Dr. Daniel Crosby

Join us in this insightful episode as we explore the concept of 'The Map vs. The Territory' in retirement planning. Discover how mental models can enhance decision-making and lead to a more fulfilling retirement. Our special guest, Dr. Daniel Crosby, discusses his latest book, "The Soul of Wealth," offering profound insights into achieving soulful wealth beyond mere numbers. Learn how to balance maps and reality, and the importance of feedback loops in financial planning. Plus, get practical advice on adapting to the unpredictable nature of life and finances. Don't miss this engaging conversation on rocking retirement with agility and purpose! PRACTICAL PLANNING SEGMENT (00:30) Talking about the map versus the territory and how it applies to retirement (2:00) Personal anecdote about GPS maps  (4:00) Maps are a good abstraction to help us navigate things but understand maps are not reality (5:15) Practical example using map versus territory (07:25) Maps can be very useful in retirement planning, but they can also have limitations (9:00) If we view map as reality, it’s easy to create static rules and can reduce our ability to adapt (10:00) In the context of retirement planning, the map is the plan and comes with a lot of limitations. (12:31) There are multiple ways to deal with variability of inflation INTERVIEW WITH AUTHOR DR. DANIEL CROSBY (16:22) Dr. Daniel Crosby is the author of the newly released book The Soul of Wealth (18:25) Use a phrase called soulful wealth to describe what makes life rich (20:00) Retirement is not a spreadsheet (22:48) Martin Seligman is the father of positive psychology and the PERMA Model (29:37) You have to get very specific in what it means to have meaning in life (31:00) The Three B’s of having purpose in life- Believing, Belonging, Becoming  (35:26) What is it, especially around retirement, that creates this crisis of confidence with people? (39:25) Identify when you are lying to yourself and it becomes harder to be complacent  (40:45) Have a purpose for your money (44:55) One of the most fulfilling ways to spend money is giving it away SMART SPRINT (48:32) In the next seven days, evaluate whatever retirement plan you have in place and identify specifically what is the feedback loop to improve that plan. RESOURCES Dr. Daniel Crosbyhttps://www.danielcrosby.com The Soul of Wealthhttps://www.amazon.com/Soul-Wealth-reflections-money-meaning/dp/1804090441 Six Shot Saturdayhttps://sixshotsaturday.com Orion Advisor Serviceshttps://www.orion.com Martin Seligmanhttps://www.authentichappiness.sas.upenn.edu

Welcome to the second week of our series on improving decision-making skills with mental models to help you rock retirement! This week, we delve into the concept of second order thinking, also known as the law of unintended consequences. Learn how to think beyond immediate outcomes and explore the long-term impacts of your decisions, whether it's buying a new car or helping your child with a down payment. We'll also share insightful stories from RRC retirees who have navigated the transition to retirement, offering wisdom on what they were excited about, what they worried about, and how their perspectives have changed. Plus, we answer your questions and discuss practical applications of second order thinking in retirement planning. Join us for an episode packed with valuable insights and tips to enhance your retirement journey!   PRACTICAL PLANNING SEGMENT (00:00) This week's show focuses on improving decision making skills ahead of retirement (01:15) Revisiting inversion thinking with listener feedback (03:18) Shoutout to RRC Member Kevin (5:00) Starting our second mental model: Second order thinking or the law of unintended consequence (9:00) Reflecting on giving money productively to children using second order thinking  (12:58) Second order consequence thinking can help you tease out downstream consequences of retirement planning (13:40) Building a retirement plan of record thinking in second order consequence thinking. RRC RETIREE INTERVIEWS (15:20) Talking to our own Kevin Sebesta about retirement  (18:09) What is a fun bucket? (23:00) Talking with two-year retiree, Bob, about what his concerns were before retirement and what he was most looking forward to. (27:54) Bob talks about making indulgent purchases in retirement. (30:46) Asking Bob what advice he would have given his younger self. (33:01) Talking to five-year retiree, Becky, about her concerns prior to retirement. (36:06) When you retired, would you say you were overfunded or very constrained? (38:00) How were you comfortable with the unknown going into retirement? (39:30) How important is it to have friends who are on a similar journey? (44:57) Talking to four-year retiree, Jack, about his concerns two years prior to retirement. (48:35) Jack talks about volunteering at food pantries and food banks. (50:46) How do you avoid getting bored in retirement? (52:04) What would you have done differently when it comes to transitioning to retirement? (53:15) Talking with five-year retiree, Chip, about transitioning from professional to retiree. (55:55) A year or two before retirement, what were your biggest concerns? (56:50) “Getting laid off was probably the best thing that ever happened to me.” (59:17) It's been a journey after retirement figuring out how to manage your time (01:03:10) Looking back, is there anything you would’ve done differently? LISTENER QUESTIONS (01:05:14) Mikey asks about withdrawing social security before seventy. (01:09:23) Mike and Bonnie ask about using debt for tax management purposes (01:16:21) Dirk asks about principle protected, structured ETFs (01:17:25) What is principal protection structured ETF? (01:23:59) Tim asks about investing based on newsletters. SMART SPRINT (01:28:59) Use second order thinking to help you make low-stakes decisions REFERENCES Rock Retirement Clubhttps://rockretirementclub.com  Six Shot Saturdayhttps://sixshotsaturday.com  Roger Whitneyhttps://rogerwhitney.com Catching Up to FI Podcasthttps://catchinguptofi.com Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219

Welcome to another insightful episode where we kick off a month-long series on improving your decision-making abilities. This week, we delve into the concept of inversion, a powerful mental model that can significantly enhance your retirement planning. Learn how to avoid common unforced errors and make better decisions to ensure a successful retirement. Plus, get answers to listener questions about HSAs, security issues, and investment strategies. Don't miss this episode packed with practical advice and useful tips!   PRACTICAL PLANNING SEGEMENT (00:30) This week starts a month-long series on improving your decision-making abilities (04:38) First mental model- Inversion (10:30) Inversion in investing (12:20) Combining inversion with the vision pillar to determine what you want your life to be (15:00) Using things you don’t want to help build goals of what you DO want (15:54) Inversion with energy pillar. What do I need to AVOID to get more energy? LISTENER QUESTIONS (17:55) Jay asks about HSA and transferring funds (21:55) Questions from Connie about password website, onepassword.com, and about securing social security account. (24:55) Question about financial advisors and Dimensional Funds (30:12) Linda asks about asset allocation and optimization. BRING IT ON SEGMENT                                   (33:33) Kevin Lyles comes on to talk about identity (37:15) Identity after retirement and losing your work identity  (43:07) Identify what you got from your career identity-wise that you want to continue in retirement SMART SPRINT (52:55) In the next 7 days when faced with a decision, think about inverting the question. RESOURCES Rock Retirement Clubhttps://rockretirementclub.com Six Shot Saturdayhttps://sixshotsaturday.com Roger Whitneyhttps://rogerwhitney.com Vanguardhttps://vanguard.com Charles Ellis, Winning the Loser's Gamehttps://www.amazon.com/Winning-Losers-Game-Strategy-Investing/dp/1264257697 Bronnie Ware, The Top Five Regrets of the Dyinghttps://www.amazon.com/Top-Five-Regrets-Dying-Transformed/dp/140194065X One Passwordhttps://1password.com LastPasshttps://lastpass.com Login.govhttps://login.gov ID.mehttps://id.me Dimensional Fund Advisorshttps://us.dimensional.com Avantis Investorshttps://www.avantisinvestors.com The Retirement Collective- Shared Wisdom from Top Retirement Coacheshttps://www.amazon.com/Retirement-Collective-Shared-Wisdom-Coaches/dp/1951915186

In this episode of the Retirement Answer Man, Roger Whitney wraps up his series on the eight pillars of a great retirement plan by diving into the last two non-financial pillars: passion and relationships. Discover how your hobbies, curiosities, and social connections can significantly impact your retirement happiness. Roger also shares personal stories and practical tips on maintaining energy, fostering a growth mindset, and building a fulfilling post-retirement life. Tune in for insights and strategies to help you rock your retirement!   PRACTICAL PLANNING SEGMENT (00:26) Eight pillars are needed as a foundation for having a great retirement plan (02:50) Importance of showing up and doing the work (04:12) Having projects is a core component of living an enriching, full life (04:49) Passion is our next nonfinancial pillar, find projects you’re passionate about (07:19) What are the obstacles to pursuing passion and projects outside of retirement (08:50) Roger’s personal anecdote about digital obstacles (10:30) Plan for developing passions (11:52) Last of the four non-financial pillars is relationships (15:17) What are the obstacles of building relationships? LISTENER QUESTIONS     (18:50) Mark asks about spousal IRA (20:09) Question from Beth: Should I keep 401k or roll over to an individual IRA? (24:28) Fund choices can be a determinant of your 401K success (27:07) Simplification and consolidating your assets into an IRA (30:21) Listener feedback on losing a spouse (34:50) It only takes one account or property to force probate SMART SPRINT (37:20) Identify one thing that you are curious about and pull that thread

This week, we continue our journey through the eight pillars of rocking retirement, shifting our focus to the non-financial realm. We delve into the first two non-financial pillars: Energy and Mindset. These pillars are crucial for showing up fully in life and maintaining a growth-oriented perspective. We'll explore how to overcome obstacles like stress, injuries, bad habits, and the impacts of aging, and discuss actionable plans to boost your energy and cultivate a growth mindset. Additionally, we’ll answer your pressing questions about Roth IRA contributions, tax planning, Social Security spousal benefits, and CD investments. Join us as we build a holistic retirement plan that goes beyond finances to truly rock your retirement! PRACTICAL PLANNING SEGMENT [00:33] Focus on the non-financial aspects of your retirement planning [01:35] Sign up for Six Shot Saturday [03:20] The first pillar that we want to talk about is energy [04:15] Obstacles that we face in having energy in our life [06:05] Plan when it comes to energy [08:43] Pillar number two is mindset [09:53] Obstacles to maintaining and growing a growth mindset [12:45] What is your plan for a growth mindset? [14:17] Reflecting on my father-in-law’s mindset LISTENER QUESTIONS [16:56] Roger answers your questions on how to rock retirement [17:35] Beth: audio question about Roth contributions  [20:30] Jim talks about managing taxes in retirement  [24:38] Our next question comes from Patrick on Social Security spousal benefits [27:12] Daniel: I was wondering what your thoughts were on CD investments BRING IT ON SEGMENT [31:14] Mark Ross talks about mindset [33:30] I changed my self-talk and it changed the outcome  [37:18] Tools to change to an abundance mindset  SMART SPRINT [38:55] When you find yourself saying “I can’t,” add the word yet. “I can’t do that YET.” RESOURCES Agile Retirement Management https://www.agileretirementmanagement.com   Rock Retirement Club https://www.rockretirementclub.com   Six Shot Saturday https://www.sixshotsaturday.com   Younger Next Year [https://www.youngernextyear.com   Limitless Mind by Jo Boaler https://www.amazon.com/Limitless-Mind-Learn-Lead-Live/dp/0062851748   Spartan Race https://www.spartan.com

This month, we're revisiting the eight pillars of rocking retirement. Today, we focus on the second two financial pillars: having a resilient plan of record and optimizing the plan to enhance the journey. Many people are good at setting goals and determining feasibility, but often overlook the importance of resilience in their retirement plan. We delve into how to stress test your plan for various risks like bear markets, health care shocks, and premature death, and how to build redundancies to make your plan more robust. We also discuss optimizing your plan with tax strategies, investment implementation, and legacy planning. PRACTICAL PLANNING SEGMENT -[00:35] - Introduction to the eight pillars of rocking retirement - [04:55] Building a Resilient Retirement Plan - [10:30] Building a funding strategy for the first five years of retirement - [14:38] The fourth pillar: Optimization LISTENER QUESTIONS - [18:55] Mark asks about estimating Social Security benefits - [20:32] Mary inquires about investing in Real Estate Investment Trusts versus private crowdfunding platforms - [27:20] John seeks advice on choosing a retirement planner - [31:58] Tammy's question on whether to sell a high-value home for liquidity BRING IT ON SEGMENT - [36:37] Building relationships and the importance of micro roles SMART SPRINT SEGMENT - [42:50] Assess the resilience of your retirement plan Resources Mentioned In This Episode Six Shot Saturdayhttps://sixshotsaturday.com Jeremy Siegel's "Stocks for the Long Run"https://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514 Roger's YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Roger’s Retirement Learning Center

This September, we're doing something a bit different. We're revisiting the basics with a refresher on the eight pillars of rocking retirement—four financial and four non-financial pillars that form the foundation for a great life. Too often, retirement planning gets bogged down with too many details and the pressure to get everything right. But in my experience, focusing on the most important things gets you 90% of the way there. This month, we’ll air classic episodes to revisit these pillars, starting today with the first two financial pillars: Vision and Feasibility. The first financial pillar we are going to discuss is VISION. How do you start to figure out your vision in retirement? We would suggest reconnecting with who you actually are outside of your identity as an employee and identifying your core values. The second pillar in the financial realm is having a FEASIBLE plan. The objective is to establish a foundation of a safe path that is feasible given the resources and the choices that you are willing to make.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT - 00:28 September will focus on the eight pillars of rocking retirement - 08:00 First two pillars of rock retirement are vision and feasibility - 08:14 Vision: What do you want when you retire?  - 13:28 What are some of the obstacles to creating a vision in retirement? - 17:44 The next pillar in the financial realm is having a feasible plan LISTENER QUESTIONS - 24:10 Listener Scott has a tip about going from two to one - 26:13 Bill discusses piecake  - 27:44 Our next question is from Steve related to asset allocation in retirement - 33:53 Another listener, Steve, wants to know if a stable value fund is a good investment BRING IT ON  - 38:33 Kevin Lyles talks passion in work and volunteering in retirement  SMART SPRINT - 45:55 Think about your life as a clean slate ✍️ Episode References Six Shot Saturdayhttps://sixshotsaturday.com The Top Five Regrets of the Dying- Bronnie Ware https://bronnieware.com/regrets-of-the-dying/ The Retirement Manifesto- Fritz Gilberthttps://www.theretirementmanifesto.com/ Stocks for the Long Run- Jeremy Siegelhttps://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514

If you are exploring a unique retirement, it is important to do your research. The best way to research something is to talk to someone who has walked the walk. That’s why, on this episode of Retirement Answer Man, I chat with people who are living their own unique retirements. Press play to hear these unique stories. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN TODAY’S SMART SPRINT SEGMENT  [6:02] Identify what type of community has served you well in lifeSTORIES FROM AN EXPAT  [8:22] Meet Doug living the expat life in Thailand[15:03] How to maintain a US address[21:35] How to handle buying land in other countries[26:41] How does estate planning work?STORIES FROM A PARENT OF A DISABLED CHILD  [29:53] Navigating retirement with children with special needs[31:11] How our retirement focus is different from other retirees[38:08] How Special Sitters coordinates care in Omaha, Nebraska[44:35] How they are making sure that their children are cared for[49:49] What else you should rememberSTORIES FROM A HUB AND SPOKE TYPE OF RETIREMENT  [50:35] What Rhoda and Rob are doing in retirement [54:38] How they travel in retirement[1:04:44] How they managed their financesResources Mentioned In This Episode Special Sitters Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

Have you ever thought about retiring abroad? It seems like a fun adventure, but how do you begin?  On this episode of Retirement Answer Man, expat expert, Jane Mepham from Elgon Financial Advisors, joins me to discuss the financial and nonfinancial considerations of moving abroad in retirement. Press play to learn whether retiring abroad would be right for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIRING AS AN EXPAT  [3:46] What is the attraction of retiring to another country?[6:18] How to explore whether retiring abroad is right for you[12:01] Should you buy or rent?[14:54] How do you navigate your finances?[22:04] What other considerations should you think about?LISTENER QUESTIONS  [37:09] Is it worth selling investments and incurring significant taxes to change firms to reduce fees?[46:03] How to plan retirement without using the 4% rule [52:25] Where to put your contingency fundTODAY’S SMART SPRINT SEGMENT  [58:08] Examine the advice you’re getting and your processResources Mentioned In This Episode Elgon Financial AdvisorsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

If you have a special needs child, you know that your retirement plan will need to include plans for their future. How do you create a great retirement while honoring and caring for your child with special needs who will most likely live beyond your years? That’s what we’ll be learning today.  In this episode, Matt from Haystack Financial Planning joins me to explore this question. His practice specializes in serving the disabled community and he offers years of experience in this area. Press play to learn what you can do to take care of your children while making the most of your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLANNING WHEN YOU HAVE A SPECIAL NEEDS CHILD  [2:30] Why Matt chose this path[4:25] How to plan for your child’s needs[7:40] How to determine the costs needed[12:02] What other tools do these children have available to them?[14:38] What is an ABLE account[20:07] How to approach guardianship[22:42] Resources to helpLISTENER QUESTIONS WITH NICHOLE  [24:42] How Nichole has been doing[25:25] Maggie’s backdoor Roth conversion question[29:38] On the order of withdrawals in retirement[33:33] How much will I need to self-insure for long-term care?[40:46] How to handle finances as a newly married couple[45:55] My plans with Michael EasterTODAY’S SMART SPRINT SEGMENT  [47:39] Limit your exposure to mainstream media related to the electionResources Mentioned In This Episode Haystack Financial Planning ABLE 529 accountBOOK - The Special Needs Planning Guide by John NadwornyBOOK - Retire Secure for Parents of a Child with a Disability by James LangeRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center

Military retirees have a unique set of circumstances and opportunities. In this episode, military retiree and retirement planner Scott Sanborn joins me to explore the financial and non-financial aspects that come with a military retirement.  Over the next month, we’ll be exploring different ways of retiring. If you have special retirement circumstances, you won’t want to miss this unique retirement series. Stay tuned for episodes on retiring with special needs children, retiring abroad, and retiring with illness or injury. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MILITARY RETIREMENT WITH SCOTT SANDBORN  [3:40] Why did Scott become a retirement planner?[5:36] What it means to retire from the military[7:15] How retiring from the military is different[13:18] Understanding the healthcare benefits[17:55] Reimagining your second actLISTENER QUESTIONS  [29:40] Penny is trying to decide whether to stay or move closer to family[37:28] How to decide when and how to relocate[39:41] How to pay the tax from my Roth conversions?[41:22] Is the IRMAA surcharge calculated each year?[42:40] How should I create my retirement paycheck? By withdrawing a lump sum or smaller amounts each month?[45:20] Standard deviation and creating an N of 1TODAY’S SMART SPRINT SEGMENT  [47:55] Remember what your intent is Resources Mentioned In This Episode Scott SanbornRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

So many retirement questions have no right answers. They’re simply judgment calls. In this episode, we’ll explore whether it makes sense to switch to a Roth 401K. Don’t listen to find out the answer. Listen to learn the process to use to come up with your own answer. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:03] Does it make sense to switch to a Roth 401K[13:55] An IRMAA surcharge question[18:18] Can you use the Rule of 55 for a Solo 401K?[20:36] A backdoor Roth question[26:22] A 5-year rule Roth IRA question[28:36] An organized Social Security questionWISDOM FROM THOSE ON THE JOURNEY  [31:31] What I wish I had known from Elaine[33:27] What a 70-year-old has learned about retirementTODAY’S SMART SPRINT SEGMENT  [36:48] Relax and don’t worry about retirementResources Mentioned In This Episode My recent Forbes articleRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

You’ve got questions and we’ve got answers. On this episode of Retirement Answer Man, Taylor Schulte from the Stay Wealthy Podcast joins me to answer your retirement questions. Grab your earbuds and join us for this episode full of your questions.  Make sure to listen to the pension or lump sum question to see how Taylor and I arrived at our differing opinions on what this listener should do with his pension. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:11] Which income sources are included in the IRMAA calculation?[10:12] On the retirement podcast network[12:35] How to use home equity as a retirement resource[22:35] Which rules should be used for this inherited IRA?[23:39] Why should I do a Roth conversion if I don’t want to?[30:47] What can I do with my small annuity?[36:01] Are closed-end funds good or bad?[47:10] Pension or the lump sum?TODAY’S SMART SPRINT SEGMENT  [57:18] What have you been talking about more than doing? Take action.Resources Mentioned In This Episode Define FinancialStay Wealthy Podcast with Taylor SchulteRetirement Planning Education Podcast with Andy PankoRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

If you’ve ever searched for a financial professional you may have seen an endless string of letters after their names. Trying to figure out the financial advisor alphabet soup is exhausting. One listener threw his hands up and asked me what all those letters mean. On this episode, we’ll explore the meanings behind those designations and discuss what they mean for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [5:47] Understanding the financial advisor alphabet soup[20:24] Which designations are more important for you[22:58] Does it make sense to pay off the mortgage[31:35] On using a recast to pay off your mortgageROCK LIFE WITH DR. BOBBY  [36:08] How weight relates to health[39:40] Intermittent fasting benefits[45:41] Intermittent fasting dangers?[52:00] On understanding science news articlesTODAY’S SMART SPRINT SEGMENT  [1:00:47] Go have fun!Resources Mentioned In This Episode Live Long and Well with Dr. BobbyMark’s Money Mind PodcastRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

The moment you’ve been waiting for is here! The Rock Retirement Club has opened its doors once again. Enrollment is open until July 18, so head on over to Rock Retirement Club to sign up today. After you do that, listen to this episode to learn how to protect yourself and your data from scammers. On this episode, Pete, a cybersecurity expert, joins me to discuss ways to secure your personal information. Listen in to hear how you can defend your data.   OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [4:51] Are SMA’s the right choice for tax strategies?[10:45] On drawing down an HSA[14:01] How to get unbiased financial information[18:38] How do you define whether someone is overfunded, constrained, or underfunded?PRACTICAL PLANNING SEGMENT  [23:20] What Pete does[26:50] What you should do first[41:04] Your level two line of defense[53:05] Level 3[1:01:44] Final thoughtsTODAY’S SMART SPRINT SEGMENT  [1:03:12] Take one baby step from the list to protect your dataResources Mentioned In This Episode 1PasswordLastPassAlign.FinancialRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

The best predictor of happiness and health at age 65 is how many close relationships you have at age 45. To really rock retirement you need to build quality relationships. To do that you need to learn to be a better communicator.  On this episode of Retirement Answer Man, Super Communicators author, Charles Duhigg, joins me to discuss how to become a super communicator. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOW TO BE A BETTER COMMUNICATOR  [5:10] Relationships are key to stave off loneliness[10:42] What super communicators do[16:47] How to communicate with anyone[21:14] Understand the type of conversion you’re in [24:55] How to take away conversational anxiety[33:00] AI communicationLISTENER QUESTIONS  [36:31] How to draw money from your portfolio in a down market[47:54] When to switch to decumulation mode in your portfolioTODAY’S SMART SPRINT SEGMENT  [53:47] Practice identifying the types of conversations you are havingResources Mentioned In This Episode BOOK - Super Communicators by Charles Duhigg Michael EasterPODCAST - Deep Questions with Cal NewportRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Every one of us has a different tolerance for risk. We even have different risk tolerances at different points in our lives. In this episode, we’ll learn about Mike and Judy’s comfort level with their investments. Learn how they’ll develop an investment approach that matches their risk tolerance.  If you have been enjoying Mike and Judy’s journey crafting their retirement plans, you won’t want to miss their live feasibility test on July 8. Join us on the latest Retirement Plan Live by signing up at LiveWithRoger.com. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN MIKE AND JUDY’S PAST INVESTING EXPERIENCE  [2:30] Your investment strategy needs to match your comfort level[5:16] Contemplating Judy’s news[17:19] Their investment philosophy[23:51] What worries them most about retirement[27:59] How will they pay for retirement?ROCK LIFE WITH KEVIN LYLES  [31:30] Learning from those who have walked this path[35:33] What you can do to improve your competence in an areaTODAY’S SMART SPRINT SEGMENT  [37:04] Review the RISA pdf to learn more about your risk toleranceResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

#544 - Legal Tender: Tallying Their Resources  Planning for retirement isn’t about creating a new job for yourself, it’s about using what you have to create a great life. On this episode of Retirement Answer Man, I’ll help Mike and Judy tally up and organize their resources so they can come up with a feasible plan for retirement. Press play to hear how you can follow along and create your own plan of record. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN MIKE AND JUDY’S RESOURCES  [3:40] Some corrections from last time[8:41] Their social capital[12:34] Their estimated human capital[18:18] Their assetsLISTENER QUESTIONS  [31:33] On investing to only keep pace with inflation[38:14] Should he take his RMDs monthly or yearly[45:16] Funding later in life healthcare costsTODAY’S SMART SPRINT SEGMENT  [57:02] Use the worksheet from Six Shot Saturday to organize your resourcesResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

We all have our own dreams for retirement and today, Mike and Judy share theirs.  On this episode of Retirement Answer Man, you’ll hear Mike and Judy describe their ideal retirement, then in the Rock Life segment, Kevin Lyles will lay out the 4 pillars for a balanced life.  As a bonus, you’ll hear Mark Ross interview me about my imperfect journey and the purchases we’ve made in Colorado. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT MIKE AND JUDY WANT IN RETIREMENT  [2:42] Their values[7:27] Their base great life[15:56] Their wantsROCK LIFE WITH KEVIN LYLES  [30:33] 4 pillars for a balanced retirementTODAY’S SMART SPRINT SEGMENT  [41:35] Think about your ideal retirementMY COLORADO UPDATE WITH MARK ROSS  [42:40] Where did the Colorado idea begin?[49:50] How did Roger get to this next step?[54:47] How they ended up with two lots in Colorado[58:14] What are the plans now[1:03:28] How he’s reflecting on what he’s learnedResources Mentioned In This Episode WDW podcastRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Would you like to have the confidence to know that it is all going to be okay so that you can walk away from your career? So would Judy! In this episode of Retirement Answer Man, you’ll meet Mike and Judy, an educator and an attorney. They are both facing burnout and ready to throw in the towel, but before they retire, they want to make sure they can swing it. Join us over the next 4 episodes, to learn more about Mike and Judy’s journey to retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN MEET MIKE AND JUDY  [3:40] Why Judy wanted to join the show[6:42] A bit about Judy and Mike[10:28] What they want to accomplish[15:52] How she is helping with her dad[18:38] Mike and Judy’s ideal retirement date[24:21]Their overall objectiveROCK LIFE  [28:16] What kind of sun protection do we really need?[29:07] The types of skin cancer and what to do about it[38:06] Who is at the most risk of skin cancer[42:04] Sun protectionTODAY’S SMART SPRINT SEGMENT  [47:49] Complete the values worksheet from 6-Shot SaturdayResources Mentioned In This Episode  Live Long and Well with Dr. Bobby Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you heard of IRMAA? IRMAA can be an unwelcome surprise if you aren’t expecting her.  On this episode of Retirement Answer Man, you’ll hear what to expect from IRMAA and your Medicare costs. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:14] Recent feedback[6:57] What IRMAA surcharges areIN THE NEWS  [14:55] Structured protection ETF[25:06] What the details showLISTENER QUESTIONS  [30:23] Should we keep our life insurance policy?[34:42] Will the lack of a bachelor's degree hurt a retirement planning practice?[36:02] Where to get the materials for the Certified Retirement Counselor curriculumROCK LIFE  [37:51] Cultivating a growth mindset through curiosity[40:58] How to cultivate curiosityTODAY’S SMART SPRINT SEGMENT  [50:55] Practice asking a dumb questionResources Mentioned In This Episode International Foundation for Retirement EducationForm SSA-44Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

What is your risk tolerance? What does risk tolerance even mean? Why does it matter?  We’ll explore these questions as I answer one of our listener’s questions on getting back into the stock market with a low risk tolerance.  Listen in to learn why he may not need to follow the traditional way of doing things. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:00] How much risk to take in retirementIN THE NEWS  [19:10] The AT&T data breach[23:03] What I’m going to do about it[26:00] How are password managers safer options for keeping passwords?LISTENER QUESTIONS  [30:53] How does moving a 529 to a Roth IRA work?[33:32] How to know if Johnny should be looking for another financial plannerTODAY’S SMART SPRINT SEGMENT  [37:35] Rethink your password protectionResources Mentioned In This Episode  1PasswordRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

  Have you thought about getting a mortgage for your home in retirement? If so, have you strategized how you would pay it off? In this episode, we explore Scott’s question about pursuing a mortgage and paying it off early. Listen in to learn some different strategies you could use if you plan to get a mortgage on your home in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:08] Should Scott get a mortgage to build his retirement home?LISTENER QUESTIONS  [12:13] HSA fees can be more expensive than the interest[15:14] What should John think about when deciding on whether to get a mortgage?[19:12] On using reverse dollar cost averaging[22:07] Can we use Roth conversions to do RMDs?[25:29] Understanding investment advisory fees[29:28] Tom’s perspective on his retirementROCK LIFE  [33:41] On cultivating a growth mindsetTODAY’S SMART SPRINT SEGMENT  [35:00] Take your thought and do it in the momentResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Let’s get back to basics—addition and subtraction two ways to get to the same answer. However, we have a tendency to stick with addition. Today we’ll learn how subtraction can help you come out ahead. Why am I talking about elementary math on a retirement podcast? Listen in to find out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:12] Is scarcity really a negative thing?[6:04] Stop trying to aim for precision[11:17] Stop making retirement planning your new job[14:03] Stop optimizing for returns[17:42] Stop thinking you have to retire to something rather than from something[21:25] Stop thinking you can wait[24:16] Stop thinking you need to resign yourself to what isLISTENER QUESTIONS  [27:10] Turn off dividend reinvestment in your decumulation phase[30:00] A rucking comment[31:03] On Social Security survivor benefits[33:26] On inherited IRAsROCK LIFE WITH DR. BOBBY DUBOIS  [35:15] Movement studies[45:05] Why does movement matter?[48:51] Why the Hadza’s sedentary lifestyle is different from ours[50:55] Why vitamin D is or isn’t helpfulTODAY’S SMART SPRINT SEGMENT  [1:00:34] Find an opportunity to moveResources Mentioned In This Episode YouTube video - What You Should Know if You Inherited an IRAEpisode 532 -  How To Manage Your Scarcity Brain With Michael EasterEpisode 530 -  What Is True Retirement Planning? With Christine BenzRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you ever considered moving to a retirement community? With the freedom that retirement brings, many people begin to rethink their living arrangements.  On this episode, you’ll hear how Brad and his wife decided to move to a retirement community. Listen in to hear how they approached their decision, the research they put in on where to retire, and how they enjoy their new locale. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY  [2:40] How Brad discovered The Villages[10:55] What led them to explore 55+ communities[13:10] How The Villages are organized[20:35] How to explore places to move in retirementLISTENER QUESTIONS  [23:50] Should we consider getting I-bonds in 2024[29:50] Clarifying new catch-up rules in 2026[32:27] Charlie’s comment on systems thinking[36:18] Where to put taxes in your planning software[38:41] A suggestion for the podcastTODAY’S SMART SPRINT SEGMENT  [40:06] Think about where you are going to live in retirementResources Mentioned In This Episode YouTube video - What You Should Know if You Inherited an IRA After January 1st, 2020I BondsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Does a withdrawal strategy in retirement have to be complicated or can you simply do a reverse of dollar cost averaging? In this episode, we’ll take a look at how reverse dollar-cost averaging would work by using an example and discover who it works for. Click play to learn if this withdrawal strategy would work for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH A LISTENER QUESTION  [1:44] Is it okay to do a reverse dollar-cost average for withdrawals in retirement?IN THE NEWS  [14:30] The rules have changed for Inherited IRAsLISTENER QUESTIONS  [18:55] What should Vicky do with the proceeds from the sale of her home?[24:09] What to do with a 10-year inherited IRA[27:55] What is the best way to fund bucket #1 to prep for retirement?[35:10] A topic suggestionTODAY’S SMART SPRINT SEGMENT  [36:11] Evaluate the resilience of your planResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

We would all love to have that magic number–the exact amount we need to retire. However, since there are so many unknowns it is impossible to attain an exact number. This is why the big question of retirement is a complex one.  In this episode, I’ll walk a listener through the process of how she can learn how much she really needs to retire. Make sure to stick around to hear about the books I read in March. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [1:46] How much do I really need to retire?[20:30] A comment on the FIRE movement[22:09] How to change advisors[27:28] How to get into the decumulation state of mind[32:37] Feedback on the Michael Kitces interviewBOOKS I READ IN MARCH  [34:00] Books I read this past monthTODAY’S SMART SPRINT SEGMENT  [36:22] Revisit your feasible plan of record to see how resilient it isResources Mentioned In This Episode BOOK - Gulag Archipelago by Aleksandr SolzhenitsynBOOK - Tai Pan James ClavellBOOK - Soul of an Octopus by Sy Montgomery The State Of Retirement Planning With Michael KitcesWhat is the FIRE Movement?NewRetirement.comRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you been wondering what retirement is like for real retirees out in the wild? With the success of our Retirement Plan Live series, we decided to try mini-case studies to learn more about what retirees like you are doing to rock retirement.  In this episode, you’ll hear some feedback from Sarah who asked a question on the show about a year and a half ago. Listen in to hear how she responded to the advice I gave. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY  [2:27] Sarah’s case [8:06] What you can do for you[10:01] A plan of record is the first stepLISTENER QUESTIONS  [13:00] What should Lucas take into account as he prepares to pay off his mortgage[20:00] Investing in retirement with a pension[26:08] How Joe is incorporating the Die With Zero philosophy by giftingROCK LIFE WITH DR. BOBBY DUBOIS  [28:24] What is rucking?[29:27] Why try rucking?[40:49] How do you get started rucking?[48:44] How to measure the benefits of ruckingTODAY’S SMART SPRINT SEGMENT  [50:00] Go try rucking by walking with something on your back Resources Mentioned In This Episode  Retirement Plan Live: Their Financial Resources - listen to Sarah’s question hereGo RuckBOOK - Die with Zero by Bill PerkinsBOOK - The Power of Moments by Chip HeathRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Michael Kitces is one of the innovators in the retirement planning and financial services space. His blog and ecosystem of resources help retirees and financial advisors gain the base knowledge needed to rock retirement. On this episode of Retirement Answer Man, Michael joins me to discuss the state of retirement planning, how it has changed, and how you can live your retirement to its fullest. Listen to this interview with one of the great minds in retirement planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH MICHAEL KITCES  [5:20] Trends in retirement planning[22:40] How to avoid dying with too much money [36:51] How to choose a retirement planner[43:38] How does someone choose a retirement planning firmTODAY’S SMART SPRINT SEGMENT  [49:04] Evaluate the quality of your process for making decisions in retirementResources Mentioned In This Episode BOOK - Die with Zero by Bill PerkinsBOOK - It’s Not Complicated by Rick NasonKitces.comRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you ever wondered why it is so hard for you to spend your money? Even now after all these years of saving you know you have enough, but it’s hard to let go and untie those purse strings. Today, my friend and renowned author, Michael Easter joins me to discuss overcoming frugality from a different perspective. Click play to hear about the evolutionary mismatch that hinders you from spending your money. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:38] Clarification on the 5-year Roth conversion rule[4:36] Simple IRA rules[6:50] The tax impact of waiting to take Social SecurityPRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER  [12:00] Why Michael pursued the concept of the comfort crisis[18:32] How discomfort becomes rewarding[20:20] How we can change our decisions in small ways[24:25] How to manage your scarcity brain in retirement[33:48] We often focus too much on the numbers[36:59] The scarcity loopTODAY’S SMART SPRINT SEGMENT  [41:10] Take the stairsResources Mentioned In This Episode BOOK - The Comfort Crisis by Michael EasterBOOK - Scarcity Brain by Michael EasterStutzRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

For the past ten years, we have been exploring how to do retirement right so that you can get down to the business of living a great life.  This is why this month we have had a series of special guests. Today’s guest is behavioral investment expert and author Dan Crosby. Together we explore why it is so hard to overcome your money mindset and how you can learn to let go to enjoy the money you have worked so long and hard to save. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH DAN CROSBY  [3:38] Overcoming frugality[10:56] How to gain confidence in the midst of uncertainty[19:19] What are things you can do to overcome your frugalityLISTENER QUESTIONS  [26:52] How do people in retirement spend less money than more money?[33:44] Does it make sense to use money allocated for a 401K for a second home?[37:33] A comment on this past Retirement Plan Live[39:20] How to fund my HSA in retirement [42:13] How to look for blind spots once you have your feasible plan of recordTODAY’S SMART SPRINT SEGMENT  [47:16] Is there something else important that you could add to your life or retirementResources Mentioned In This Episode BOOK - The Soul of Wealth by Dan CrosbyBOOK - The Top 5 Regrets of the Dying by Bronnie WareBOOK - Die with Nothing by Bill PerkinsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Retirement planning has changed over the years, but has the industry evolved to keep up?  Your retirement needs are much different from those of your parents' generation. This is why it is important to focus on retirement planning in a holistic way rather than from solely a financial perspective.  Morningstar’s Christine Benz joins me today on this episode of Retirement Answer Man. This seasoned retirement journalist shares her thoughts on the state of retirement planning, long-term care, investing in retirement, and what encompasses true retirement planning. Listen in to gain more perspective as you navigate your retirement journey. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH CHRISTINE BENZ  [4:55] The state of retirement planning as a process[18:30] The state of investments for retirement planning[22:16] The state of long-term care[25:26] How to begin to plan for retirement decumulationLISTENER QUESTIONS  [30:45] About opening a Roth for a child[32:51] How to create a 5-year income floor with financial capital[37:11] On using bonds to fund the 5-year income floor[41:44] Should you keep investment accounts under the FDIC and SIPC limits?[46:30] Should I have a Simple IRA and Solo 401K?TODAY’S SMART SPRINT SEGMENT  [50:00] Understand what this year’s retirement contribution levels areResources Mentioned In This Episode BOOK - More than Enough by Mike PiperBOOK - Die with Zero by Bill PerkinsMorningstar Christine BenzThe Longview PodcastRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

This month we celebrate the Retirement Answer Man’s 10th anniversary milestone with several guests throughout the month.  Today we welcome Professor Rick Nason, author of It’s Not Complicated, to discuss complicated vs complex thinking. If that discussion didn’t Stick around for the listener questions with Tanya Nichols and Bring It On with Dr. Bobby Dubois OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN COMPLICATED VS COMPLEX THINKING WITH PROFESSOR RICK NASON  [4:20] Defining simple, complicated, and complex[9:11] Why it is important to identify whether you’re dealing with complicated vs complex[18:10] How to approach complex problems[29:30] How AI plays into the discussion of complex vs complicated thinkingLISTENER QUESTIONS  [38:50] On portfolio performance calculations[46:18] How to decide whether to stay with an advisor or move to another firm?[51:38] How to take your RMD[57:02] On the Dying with Zero book[57:31] On Don QuixoteBOOKS I READ THIS MONTH  [58:56] The books I read this monthBRING IT ON WITH DR. BOBBY DUBOIS  [1:04:02] Exploring uncertainty[1:09:53] Uncertainty in retirement[1:22:14] How to test anxiety treatmentsTODAY’S SMART SPRINT SEGMENT  [1:25:27] Please fill out our listener surveyResources Mentioned In This Episode Align FinancialThe Fog of WarTrillion Dollar BetBOOK - Horse by Geraldine BrooksBOOK -  Lessons in Chemistry by Bonnie GarmusBOOK - Life of Pi by Yann MartelBOOK - Die with Zero by Bill PerkinsBOOK - When Genius Failed by Roger LowensteinBOOK - It’s Not Complicated by Rick NasonBOOK - The Comfort Crisis by Michael EasterBOOK - The Scarcity Brain by Michael Easter BOOK - From Strength to Strength by Arthur Brooks Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Those who have FIREd like Keven Sebesta are choosing to rock life each day. In this final episode on the FIRE movement, we’ll explore what we can learn from them. Join Kevin and me to discover how you can do what FIRE is doing right. What can you learn from FIRE?  Traditional retirement planning is all about achieving the end goal. Climbing the mountain and reaching the summit. However, FIRE embraces life today. Those in the FIRE movement see life as an endless journey to explore.  Don’t wait to explore your passions and interests. Do them now. If that isn’t possible, examine how your life is structured and begin to build a life filled with intentionality. Build connections and community based on your interests.  Listen in to learn how you can create a rich life now without waiting until retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:55] When I retire I will…[5:10] Lessons to learn from FIRE movement[13:43] What financial lessons to learn from FIREd people[16:23] Planning from the inside outLISTENER QUESTIONS  [22:18] What is the payoff/penalty of using my IRA to do a Roth conversion?[30:25] Moving money from an IRA to an HSA[34:07] On refilling the pie cake [38:47] Make sure you have enough taxes withheld when doing Roth conversions[41:39] Can Gail open a Roth for her granddaughter?TODAY’S SMART SPRINT SEGMENT  [43:33] Write down one thing that you know well and question it with a mindset of curiosityResources Mentioned In This Episode Arthur BrooksCal NewportDesigning Your Dream Life with Arthur BrooksMark’s Money MindRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Over these past few weeks, we have been discussing the FIRE movement with Kevin Sebesta, a coach in the RRC who achieved FIRE some time ago and has been rocking retirement ever since.  This week Kevin helps me explore the challenges that retiring early can bring. Listen in to hear if these are similar to the issues you face in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [4:58] The challenges of leaving traditional work early[10:55] Healthcare is one of the challenges[17:28] The non-financial challenges of FIRELISTENER QUESTIONS WITH ANDY PANKO  [27:44] Which Social Security benefit should we take?[31:28] Relating to working with a bad financial advisor[36:47] What to do with an overfunded whole life insurance policy[43:07] How are IRMAA surcharges calculated?TODAY’S SMART SPRINT SEGMENT  [47:55] When you’re in a disagreement with someone, step out and reset yourself to gain perspectiveResources Mentioned In This Episode Retirement Planning Education podcastRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Now that we know what FIRE is, let’s learn the benefits. In this episode of Retirement Answer Man, Kevin Sebesta joins me to discuss the benefits of FIRE.  Afterward, Mark Ross comes aboard to noodle on why creativity is important in retirement. And finally, Taylor Schulte from the Stay Wealthy podcast helps me answer some listener questions. Don’t miss out on this informative episode! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:41] Life as a journey[3:00] Benefits of retiring earlyBRING IT ON WITH MARK ROSS  [19:09] Why is creativity important?LISTENER QUESTIONS WITH TAYLOR SCHULTE  [25:52] About the Retirement Podcast Network[28:43] How to choose between investing in a Roth 401K and a traditional investment account[33:55] Timing a reallocation of assets[39:45] A good, detailed, free retirement calculator[44:55] Why Rosie didn’t hire another financial plannerTODAY’S SMART SPRINT SEGMENT  [50:28] Define whether your decisions are hats, haircuts, or tattoosResources Mentioned In This Episode New Retirement CalculatorThe Retirement Podcast NetworkStay Wealthy PodcastDefine FinancialBOOK - Coaching Beyond Words by Anna SheatherBOOK - How to Think Like Leonardo DaVinci by Michael GelbBOOK - Atomic Habits by James ClearPODCAST - Choose FIPODCAST - Catching Up to FIBOOK - The 100-Year Life by Andrew Scott and Lynda GrattonBOOK - The Second Mountain by David Brooks Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you heard of the FIRE movement? It’s become increasingly popular in the past few years. Even if you are technically too old to retire early, there is something we can all learn from FIRE seekers.  In this episode, Kevin Sebesta, a real live FIREer joins me to discuss what FIRE is, how he achieved it, and what people who retire early do with their time.  Make sure to stick around for the Bring It On segment with Dr. Bobby Dubois to learn whether supplements are worth the time and money we spend on them. Dr. Bobby helps us develop a framework for deciding whether supplements are right for us. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I READ IN JANUARY  [2:02] Books I read last monthPRACTICAL PLANNING SEGMENT  [5:55] Meet Kevin[9:56] Defining FIRE[15:24] Who enjoys FIRE [21:23] Why FIRE has caught onBRING IT ON WITH DR. BOBBY DUBOIS  [26:12] Why are supplements important?[30:54] How should we go about exploring supplements?[39:44] What do the studies show?[44:18] What about multivitamin supplements?[48:20] What supplements does Dr. Bobby support?[52:10] The takeawaysTODAY’S SMART SPRINT SEGMENT  [53:58] Read a book!Resources Mentioned In This Episode BOOK - Scarcity Brain by Michael EasterBOOK - Moby Dick by Herman MelvilleBOOK - The Eye of the World by Robert JordanRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

How do you manage a joint cash flow with separate assets? In addition to discussing Mark and Mary’s situation, today I chat with Kay about how she and her husband handled finances with their late in life marriage. Kay gives us some insight on how to manage finances in a financially unbalanced relationship. You’ll appreciate her perspective on how to manage the household cash flow when you haven’t always been married. Make sure to stick around to hear an update from Sam, our single Retirement Plan Live case study from 2018. She’ll let us know how she’s been doing, what has surprised her about retirement, and whether her retirement plan has changed. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE  [6:40] A comment about this RPL[8:12] How to discuss uncomfortable topics with your partner[13:56] Some examples of how separate assets can work[19:03] Chatting with Kay about her relationship and prenup[25:14] How they managed cash flow after they married[31:40] How they navigated the financial challenges in their marriageCATCHING UP WITH SAM FROM THE 2018 RETIREMENT PLAN LIVE  [34:18] What Sam has been up to since we last chatted[38:01] How she has dealt with the ups and downs of the markets[42:26] Does her retirement plan look the same?[44:41] What has surprised her about retirementTODAY’S SMART SPRINT SEGMENT  [50:24] Think about how you will manage your cash flow in retirementResources Mentioned In This Episode 2018 Retirement Plan Live with Sam  219,  220,  221,  222,  223Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

We’re back with Retirement Plan Live to explore how two adults who married later in life can share their resources as they age. Last week we looked at their goals both individually and together and today we’ll do the same with their resources. Listen in to hear the different ways that older adults who come together later in life can pool their resources so they can rock retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE  [2:55] Let’s look at their resources[8:56] How can they use these resources together and separately[14:22] What to expect next weekBRING IT ON WITH MARK ROSS  [15:30] How to have a positive attitude while you age[18:02] Developing a purposeful path to aging[20:03] 3 things to considerTODAY’S SMART SPRINT SEGMENT  [22:06] Organize and refresh your financial resourcesResources Mentioned In This Episode BOOK - Who Do You Want to Be When You Grow Old? by Richard Leider and David ShapiroBOOK - The Comfort Crisis by Michael EasterRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Do you like lemonade? If so, you won’t want to miss out on the lemonade I make on today’s episode.  We’re discussing goals on this episode of the Retirement Plan Live series and we get to catch up with Lori from the 2017 Retirement Plan Live. Find out what she is up to and how to work through shared and separate goals in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE   [3:42] Mark and Mary’s differences developed into a big conversation[9:00] Mark’s values[10:12] Mary’s values[14:01] Inferring their goals[16:03] When they will retireCATCHING UP WITH LORI FROM THE 2017 RETIREMENT PLAN LIVE  [22:48] What Lori and Bruce are up to today[27:18] Has their retirement plan changed?[33:01] Their plans for the future[35:15] Her advice for new retireesTODAY’S SMART SPRINT SEGMENT  [38:12] Revisit your goals for retirementResources Mentioned In This Episode RetireAgile.comLiveWithRoger.com2017 Retirement Plan Live with Lori and Bruce  193, 194,  195, 196Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

If you’re married, do you have retirement planning meetings? If you’re single do you plan a time to meet with yourself to plan your retirement? What or whom do you use as a sounding board? In this Retirement Plan Live, we’re getting to know Mark and Mary–two lovely people who have found each other later in life. This mature newlywed couple is trying to iron out the details of their finances.  Sit back and enjoy this episode where we meet Mary and learn about her story and the financial challenges she and Mark are facing in their new marriage. As you listen to Mark and Mary’s story maybe you can use it to frame your own retirement planning conversation. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A BIT OF HOUSEKEEPING  [1:50] What is the retirement podcast network?[3:43] Books I read in December[7:00] A correction on a recent question[7:45] Some listener wisdom on what Rojo should do to retire at 60[13:43] Sign up for the results webinar!MEET MARY  [14:38] What motivated her to volunteer for RPL?[19:03] Advice for anyone navigating the online dating world[20:15] How they ended up together[23:31] Mary’s aspirations for their relationshipBRING IT ON WITH KEVIN LYLES  [37:10] The phenomenon of unretirement[43:44] What to do if you are considering unretirement[45:49] A Social Security tip if you do unretireTODAY’S SMART SPRINT SEGMENT  [46:28] Have your retirement planning meeting for the yearResources Mentioned In This Episode BOOK - One Flew Over the Cuckoo’s Nest by Ken KeseyBOOK - Name of the Wind by Patrick RothfussBOOK - The Wise Man’s Fear by Patrick RothfussRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Today you’ll meet Mark–half of our newest case study for Retirement Plan Live. Mark and Mary are a year and a half into their new marriage and are trying to figure out how to plan the rest of their lives. On this episode, you’ll learn about Mark and his aspirations and concerns for their life together.  In the next episode, you’ll meet Mary, in week three we’ll discuss their goals, the following week we’ll look at their resources, and finally, we’ll see how they manage their cash flow and learn who pays for what.  Make sure that you’re signed up for the live webinar on February 1 at 7 pm CST. In this webinar, you’ll get to see how everything panned out for Mark and Mary. To sign up, head on over to LiveWithRoger.com and mark it on your calendar. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN MEETING MARK  [3:30] What motivated Mark to volunteer for this case study[9:15] Mark loves spreadsheets[15:26] How they merged their livesBRING IT ON WITH DR. BOBBY DUBOIS  [22:54] Should you do a broad spectrum of tests?[24:10] Why you should or shouldn’t do these tests[38:10] Why I did some screenings[46:51] How to do screenings productivelyTODAY’S SMART SPRINT SEGMENT  [50:24] Organize the tests you’ve had from your doctorResources Mentioned In This Episode Function HealthBOOK - Outlive by Peter AttiaRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

One of our listeners actually has a better mortgage rate than me! However, as they begin to test their retirement budget they have found that the mortgage payment leaves that budget a bit tight. So they are wondering if they should pay off their mortgage early by withdrawing from their IRA. What would you do? Listen in to hear my response in addition to several other listener questions. We’ll also catch up with Rosie from the last Retirement Plan Live. Press play to learn if she implemented any of the things we discussed and how her retirement has been over the past year. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [3:30] Should we pay off our mortgage with our IRA?[11:27] An inherited IRA question[17:55] The order of withdrawals in retirement[25:24] The benefits of a continuing care retirement communityCATCHING UP WITH ROSIE FROM THE 2023 RETIREMENT PLAN LIVE  [27:34] How Rosie’s confidence level is now[29:00] How she implemented some financial changes this year[43:28] Her intentions for her new plannerTODAY’S SMART SPRINT SEGMENT  [51:27] Refresh your vision, your feasible plan of record, and your resilient plan of recordResources Mentioned In This Episode Retirement Plan Live with Rosie -  468,  469,  470,  471Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

It seems like no matter how much we save we always have that nagging worry about whether it is truly enough.  One of our listeners is looking for ways to reduce the chances of running out of money in retirement. My response to his question may surprise you. Listen in to hear what I have to say about improving his retirement trajectory. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:21] What can I do to ensure not run out of money in retirement[8:43] A rental property question[11:52] On Roths being separated in Fidelity[13:30] Can you roll over an old 401K into your current planCATCHING UP WITH JOELLE FROM THE 2022 RETIREMENT PLAN LIVE  [17:05] Joelle has formed a social network in her new town[19:23] How her finances have fared over the past 2 years[24:44] How a 5-year cash cushion has given her peace of mind[30:56] How Joelle has learned to let go of having one right way to do thingsTODAY’S SMART SPRINT SEGMENT  [32:38] Enjoy your familyResources Mentioned In This Episode Retirement Plan Live with Joelle - Relocation For Retirement  416,  417,  418,  419Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you ever wondered how the subjects from our Retirement Plan Live series are doing now? Did everything turn out okay for them? Find out how Emma (from 2019 RPL) is doing on this episode of Retirement Answer Man. In the listener questions segment you’ll learn about the Rule of 55, donor-advised funds, and contributing to a teen’s Roth IRA. Press play to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [4:01] Can you directly contribute from an IRA or 401K to a donor-advised fund?[9:37] A rule of 55 clarification[11:41] Can I roll over the portion I don’t want under the rule of 55 provision?[15:19] Contributing to a teen’s Roth IRA[17:09] How to navigate financial planning for a special needs adult childCATCHING UP WITH EMMA FROM THE 2019 RETIREMENT PLAN LIVE  [18:33] Having a great retirement after widowhood takes work[24:44] On finding her tribe[31:27] What’s next for Emma[32:48] Advice for othersTODAY’S SMART SPRINT SEGMENT  [36:10] Embrace the boringResources Mentioned In This Episode Retirement Plan Live with Emma episodes  289,  290,  291,  292Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

The way does not exist–there is no one correct way to do things. We are all finding our own ways in life and retirement. Working with an agile structure will help give you the scaffolding to create a retirement plan in an organized way. On this episode, you’ll hear how drafting your agile retirement plan can help you discover your unique way to rock retirement.  Continue listening to discover the books I read in November, the answers to several listener questions, and the way to create an exercise plan to boost your energy. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOKS I READ IN NOVEMBER  [2:40] The books I read in NovemberLISTENER QUESTIONS  [9:37] Books I have recommended in the past[12:25] A refilling tax buckets comment[16:50] Can you make a full HSA contribution for 2024?[19:35] A question on car loans[25:06] How do you know if your retirement plan is resilient[28:52] A book recommendationBRING IT ON WITH DR. BOBBY DUBOIS  [30:39] How to show up with energy with exercise[35:43] How to set up an exercise program[39:13] Where to start[42:14] Convert your stationary life to a life of movement[50:16] How to fuel yourself for a workout[53:18] How to build a sustainable exercise programTODAY’S SMART SPRINT SEGMENT  [57:00] Assess your process and strategy for retirementResources Mentioned In This Episode Episode 434 - Functional Health To Rock Retirement - Creating The Right Exercise PlanDoRetirementRight.comEpisodes with lists of books I’ve recommended - 138, 206, 287, 464The Retirement Answer Man GoodReads Book ClubBOOK - Die with Zero by Bill PerkinsBOOK - Be Useful by Arnold SchwarzeneggerBOOK - Total Recall by Arnold SchwarzeneggerBOOK - Only the Dead by Jack CarrBOOK - I’m Proud of You by Tim MadiganBOOK - The Road to Character by David BrooksRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you been wondering what you’re supposed to do when it comes to refilling your retirement income buckets? So has Michael. In this episode, I’ll go into further detail about how to do that. Stay tuned for the answer to Michael’s question and many others as well as a chat with Kevin Lyles on how to ease into retirement in the Bring It On segment. Press play to get started. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [4:38] How to reinvest retirement income floor[15:21] Contribute to grandchild’s Roth accounts to teach compounding[16:58] How is a non-deductible IRA contribution withdrawal handled?[19:51] The pros and cons of Everplans[24:26] On organizing booksBRING IT ON  [25:45] How to ease into retirementTODAY’S SMART SPRINT SEGMENT  [33:45] Check your liquidityResources Mentioned In This Episode BOOK - The Road to Character by David BrooksBOOK - The Second Mountain by David Brooks Everplans.comEpisode 473 -  How Is Deferred Compensation Taxed When I Receive It?Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

What would you do if your retirement planner said no when you asked them for a report? I’ll address this question and many more on this episode of the Retirement Answer Man Show. We’ll also discuss the two things you need to find happiness. Are you curious as to what they are? Listen in to find out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:13] Adding to my partial answer to a question in  episode 512[5:33] What to do when my advisor told me no to a report[11:05] On switching plans in Medicare’s open enrollment[14:41] What training someone should pursue to improve their financial education[18:10] The issues that come with trying to die with zero[21:03] Rules when you return to work[23:22] On securing long-term care insurance[25:51] Are the rules different for 457B accounts?BRING IT ON  [29:57] Building protocols to improve your agencyTODAY’S SMART SPRINT SEGMENT  [34:00] Write 5 things you are grateful for and 5 things you can do to build agencyResources Mentioned In This Episode Huberman Lab PodcastLTCI PartnersEpisode #281 - Is An Annuity Right For Retirement? The Role An Annuity Can Play In Your PortfolioBOOK - Die with Zero by Bill PerkinsEpisode #345 - How Does Medicare Work? Making Your Medicare Decision with Danielle RobertsBoomer BenefitsEpisode 512 - How Should I Pay Taxes On My Roth Conversions?Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

If you have different retirement accounts at various brokerage firms, you may wonder whether you should consolidate them. One listener asked me that very question today. I’ll answer it along with several others–don’t miss the one about my finance book recommendations.  Are you curious about how you can improve your relationship in retirement? Then, make sure to listen to Mark Ross’s suggestions in the Bring It On segment. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [5:51] Should Greg and his wife consolidate their accounts?[11:39] Using the Obsidian note-taking app[13:42] Larry’s question on RMDs and down markets[16:34] My recommendation on reading material for Sandy on money management[19:41] What is a LIRP?BRING IT ON WITH MARK ROSS  [22:12] The relationship pillar requires communication[25:16] Have a retirement plan of recordTODAY’S SMART SPRINT SEGMENT  [30:07] Review these end-of-year housekeeping tipsResources Mentioned In This Episode BOOK - The Behavioral Investor by Daniel CrosbyBOOK - 48 Days to the Work You Love by Dan MillerBOOK - Don’t Retire, Rewire by Jeri SedlarBOOK - Younger Next Year by Chris CrowleyBOOK - Stacked by Joe Saul-SehyBOOK - A Simple Plan to Wealth by J.L. CollinsBOOK - Winning the Loser’s Game by Charles EllisBOOk - The Retirement Income Guidebook by Wade Pfau The Retirement Answer Man GoodReads groupNotionObsidian note-taking appRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

“You do not rise to the level of your goals; you fall to the level of your systems.” James Clear I’ve been focusing on building up my systems lately and today I’ll provide you with an example of what that looks like for me.  In addition, in this episode, you’ll hear several questions on how to optimize your tax burden. Then in the Bring It On segment, Kevin Lyles joins me to discuss the role of leisure in retirement. Join me today to take a baby step to improve your life in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:19] Building systems LISTENER QUESTIONS  [6:31] How to pay taxes for Roth Conversions[14:44] On new rules for catch-up contributions[17:07] Can Larry contribute to his wife’s HSA?[19:26] The details on the taxes on selling a houseBRING IT ON  [22:46] The role of leisure in retirement[25:06] The 6 categories of leisureTODAY’S SMART SPRINT SEGMENT  [31:16] Look at your after-tax accounts and tally your realized capital gainsResources Mentioned In This Episode BOOK - Atomic Habits by James ClearSign up for the 6-Shot Saturday newsletter!Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Bonds are a ubiquitous part of a balanced portfolio and in recent years bond funds have become even more attractive to many investors. However, due to rising interest rates, bond funds are now losing their appeal.  One listener asks whether she should call it quits on her investment in bond funds. In this episode of Retirement Answer Man, Nichole and I will explore this and other questions from listeners like you.  Stick around to hear my conversation with Dr. Bobby Dubois about energy and our relationship with caffeine. Find out once and for all whether caffeine is as bad for you as they say. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I READ IN OCTOBER  [1:30] Books I read in OctoberLISTENER QUESTIONS  [5:01] Will it be a long way to get back to even on bond funds?[10:03] About the recommended withdrawal rate in retirement[12:12] How to figure out the net worth of a pension[14:41] A question about transferring IRA funds to HSA[16:23] Feedback on wisdom for our children[17:14] How far back should a newer listener go in the podcasts?[21:09] A comment on my YouTube video with Joe Saul-SehyBRING IT ON WITH DR. BOBBY DUBOIS  [22:20] 85% of people have caffeinated beverages each day[28:22] How much caffeine should you have each day[30:12] What happens to your brain on caffeine[39:37] What to do with this informationTODAY’S SMART SPRINT SEGMENT  [44:18] Join the Retirement Answer Man Goodreads group!Resources Mentioned In This Episode Join the Retirement Answer Man group on GoodreadsBOOK - The Count of Monte Cristo by Alexandre DumasBOOK - The Armor of Light by Ken FollettBOOK - Stillness is the Key by Ryan HolidayRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

We often try to overcomplicate finances, but simplicity is the key. That’s not to say simplistic: simple doesn’t equal simplistic. On this episode, we wrap up our Wisdom for Our Children series by exploring your advice for spending, saving, and investing. We have tons of valuable guidance for the young people in our lives. Be sure to listen to hear all the suggestions. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WISDOM FOR OUR CHILDREN  [3:38] Learn to invest in yourself[9:02] How to create wealth[12:52] Some audio adviceAN INTERVIEW WITH MARK TRAUTMAN  [21:24] Understanding compound interest[31:10] The best place for a young person to save[40:29] How to invest your long-term investmentsTODAY’S SMART SPRINT SEGMENT  [48:44] Get a book for a young person in your lifeResources Mentioned In This Episode BOOK - The Daily Stoic by Ryan HolidayBOOK - Areté by Brian JohnsonBOOK - The Simple Path to Wealth by JL CollinsBOOK - Stacked by Joel Saul SehyBOOK - Profit First by Mike MichalowiczBOOK - The Scarcity Brain by Michael EasterRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Your family and friends are the people you walk life with, so it is important to choose wisely. In this episode of our Wisdom for Our Children series, Nichole joins me to reflect on what the younger generation should keep in mind when forming these valuable relationships. Press play to hear what it takes to build meaningful relationships. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:17] What you do speaks so loudly I cannot hear what you have to say[8:15] How to love someone[16:55] Have high standards [18:52] Create boundaries with family [20:30] Comments from listenersTODAY’S SMART SPRINT SEGMENT  [26:58] Check in on someoneResources Mentioned In This Episode BOOK - The 5 Love Languages by Gary ChapmanBOOK Series - The Crucial series by Kerry Patterson and Joseph GrennyBOOK - Boundaries by Henry CloudBOOK - Necessary Endings by Dr. Henry CloudBOOK - Love Does by Bob GoffBOOK - The Power of Moments by Chip and Dan HeathBOOK - The 4 Agreements by Miguel RuizBOOK - The Courage to Be Disliked by Ichiro KishimiBOOK - QBQ by John MillerBOOK - 4000 Weeks by Oliver BurkemanRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

This month, as we meander through the different parts of life we are stopping to reflect on certain areas to pass on wisdom to our children. In this episode of the Retirement Answer Man Nichole Mills joins me to discuss career and retirement.  Do you have a young person in your life who you would like to pass on some juicy nuggets of wisdom? If so, make sure you are signed up for the 6-Shot Saturday newsletter. At the end of this series, we’ll be sending out a carefully cultivated PDF full of sagacity that you can pass on. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [3:27] Can you transfer appreciated assets in kind to a charitable giving trust? [9:45] How CDs work and when to use them[13:43] How to manage finances when marrying late in life[18:23] When are HSAs not worth the triple tax advantage?WISDOM FOR OUR CHILDREN WITH NICHOLE MILLS  [27:19] Think in 5-year increments[29:26] Build career capital[32:00] Cultivate an authentic network[35:27] Wisdom on retirement[39:43] Play by your own rules[40:21] Advice from our listenersTODAY’S SMART SPRINT SEGMENT  [48:10] Cultivate your artistic natureResources Mentioned In This Episode BOOK - Designing Your Life by Bill Burnett and Dave EvansBOOK - Linchpin by Seth Godin Cal NewportRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

It is commonly said that youth is wasted on the young. Do you ever wish you could share the wisdom and perspective you have gained with someone young enough to benefit from it? As we approach our sunset years, many of us have a spiritual desire to give back to the next generation. There is an abundance of wisdom within this community which is why over the course of the next several episodes we will collect that wisdom to pass on to our children.  Each episode will be designed around a separate area of life. This week we’ll focus on energy and mindset because without energy nothing else can fall into place. Come back next week to hear about career and retirement.  Make sure to share this one with your favorite young people. There is a wealth of resources mentioned in this episode, so make sure to scroll down to the bottom of this page for all the links. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOKS I READ LAST MONTH  [2:30] The two books I read in SeptemberWHAT WE WISH OUR YOUNGER SELVES WOULD HAVE KNOWN  [9:20] What we wish we would have known[14:43] Resources surrounding energy and mindset[16:23] Who Brian is[20:29] What does arete mean?[24:49] What Brian was like at 23[27:44] Advice Brian has for his younger self[41:54] How to gamify self-improvementLISTENER QUESTIONS  [53:54] Clarifying my answer to a previous question on HSAs[55:47] Elaborating on not retiring[58:49] Susan’s comment on my interview with the Friends Talk Money podcast[1:01:18] How to look for a retirement plannerTODAY’S SMART SPRINT SEGMENT  [1:08:48] What is one thing in each of the energy and mindset domains that you could stop doing to build a better life?Resources Mentioned In This Episode Join me October 26 or 28 to discuss The 4 Financial Pillars of a Great Retirement PlanGarrett Planning NetworkNAPFAFriends Talk Money podcastEpisode 499 - Should I Do A Roth Conversion?BOOK - Deep Work by Cal NewportBOOK - Tiny Habits by BJ FoggBOOK - The Power of Agency by Paul NapperBOOK - The Tools by Phil Stutz and Barry MichelsHeroic AppBOOK - Bright Line Eating by Susan Pierce ThompsonBOOK - The Comfort Crisis by Michael EasterBOOK - Why We Sleep by Matthew WalkerBOOK - Outlive by Peter AttiaBOOK - 4000 Weeks by Oliver BurkemanBOOK - Undaunted Courage by Stephen AmbroseRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

What is the difference between a passion and an interest? Why is it important to have a passion in retirement? In the Bring It On segment with Mark Ross, we’re discussing passions. You’ve probably heard that it is important to have a purpose in retirement, but today you’ll learn how to develop your interests and turn them into passions. You’ll also hear questions about when to stop contributing to pre-tax retirement accounts, what preferred stocks are, and whether QLACS can be used as QCDs. Press play to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [3:30] Future pre-tax contributions[13:48] What is the objective of having preferred stocks in a portfolio[17:03] Can a QLACS distribution be treated as a qualified charitable distribution?[18:54] Where should these 34-year-olds save?BRING IT ON WITH MARK ROSS  [21:28] Are passions the same as interests?TODAY’S SMART SPRINT SEGMENT  [27:00] Update your net worth statementResources Mentioned In This Episode LiveWithRoger.comBOOK - 4000 Weeks by Oliver BurkemanRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Is there an ideal mix of before and after-tax retirement accounts? If so, what is it? In this episode, we’ll find out. We’ll also explore a number of other questions that have been eating away at listeners like you.  Check out this episode to listen to these listener questions and stick around until the end to hear Kevin Lyle’s relief at no longer having to keep up with the Joneses. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:05] What is the ideal mix between before and after-tax retirement accounts?[6:46] What to do about a fee-heavy investment account[11:00] Finding a financial planner[12:09] The impact on energy levels[13:58] Saving for kids’ education[18:17] How to open a Roth with a high-incomeBRING IT ON  [21:05] Keeping up with the JonesesTODAY’S SMART SPRINT SEGMENT  [26:08] Check the way you compare yourself to othersResources Mentioned In This Episode Andy Panko’s advisor referral listGarrett Planning NetworkNAPFA BOOK - Outlive by Peter AttiaRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

What are you doing to make friends in retirement? Mark Ross and I explore this challenge in our Bring It On segment. Listen in to hear how I made a new friend this week and stick around to hear the listener questions and what you could be doing to improve your social life. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:36] What should Ronnie consider when transferring investment accounts?[14:30] Clarifying the 401K catch-up provision for high-income earners[20:12] Clarifying the 5-year rule with each conversion[22:44] Capital gains strategies for downsizing your primary residence[26:35] Will claiming a personal SS benefit early affect a spousal benefit?BRING IT ON WITH MARK ROSS  [30:40] How do we make new friends in retirement?TODAY’S SMART SPRINT SEGMENT  [37:57] Take stock of your social network to see how you could improveResources Mentioned In This Episode The Roth series 494, 495, 496, 497, 499BOOK - A Simple Path to Wealth by J.L. CollinsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Did you know that there is another way to borrow money to purchase a home that is not a mortgage? Larry is thinking about using a securities-based line of credit against his after-tax investment account to borrow to buy a house. Discover my opinion on this optimization question on this episode of Retirement Answer Man. Listen in to also hear my August reads and learn about the importance of protein to keep strong as you age. Press play now. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOKS I READ IN AUGUST  [2:58] The Wager[6:02] American Prometheus[7:12] Outlive[9:09] The Courage to Be Disliked[10:06] The Big ShortLISTENER QUESTIONS  [11:14] Should Larry use an after-tax investment account to borrow to buy a house?[21:33] Jennifer wants to hear more about pretirement[26:25] How to get the Roth clock ticking when you don’t qualify for a Roth[28:18] On discussing faith in the RRC[29:20] The costs of alcohol[30:12] Richard’s thank you on 500 episodes[31:34] Do the same (golden) rules apply to Roth 401Ks as Roth IRAsBRING IT ON WITH DR. BOBBY DUBOIS  [35:30] Building energy using protein powder[41:00] How much protein people really need[44:02] Negatives of too much protein[48:12] Do people get enough protein?[50:06] More on protein supplements[57:55] How to ensure you are getting enough proteinTODAY’S SMART SPRINT SEGMENT  [59:01] Keep a captain’s logResources Mentioned In This Episode BOOK - American Prometheus by Kai BirdBOOK - Outlive by Peter AttiaBOOK - The Wager by David GrannBOOK - The Courage to be Disliked by Ichiro KishimiBOOK - The Big Short by Michael LewisEpisode 502 - Should I Realign My 401K Now That I'm Retired? (with Kevin Lyles)Episode 500 - 500 Episodes and Still RockingA few episodes in which we discuss retirement -  183, 214, 244, 324, 430 Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

To really rock retirement you have to have the right mindset. On this episode of Retirement Answer Man, Kevin Lyles and I noodle on the power of wonder. You’ll learn why it is important to have a sense of wonder and learn three tips for digging into your own sense of wonder.  We also have plenty of listener questions to answer. Press play to hear the answers to questions from listeners like you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BRING IT ON WITH KEVIN LYLES  [3:44] The power of wonder[7:22] Kevin’s tips for experiencing wonderLISTENER QUESTIONS  [12:47] Should Liz reallocate her 401K?[23:28] Should Barry be concerned about his asset allocation?[34:45] A rule of 55 issue[36:30] Getting conflicting answers from the Social Security Administration[40:29] On dealing with FOMO and building healthy cash reserves[43:59] How to get into retirement planning as a careerTODAY’S SMART SPRINT SEGMENT  [48:40] Find some wonder in the worldResources Mentioned In This Episode RMA CertificationMaximizeMySocialSecurity.comEpisode 493 - How Can I Reverse Taking Social Security?The Huberman Lab PodcastBOOK - The Power of Wonder by Monica ParkerGet inspired by the Free Range Fun Hogs blog Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Should you use historical or projected returns in your retirement model? One of our listeners asks this question in a very eloquent way.  On this episode of Retirement Answer Man, I’ll spend some time on this question and share my thoughts on which type of model you should use. You’ll also hear the answers to several other listener questions before Kevin Lyles and I discuss tips for having successful conversations with your spouse in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [1:30] Should we use historical or projected returns?[20:11] What is the intent?[23:00] What I sound like at 75% speed[24:05] How to rank spending priorities[28:24] Insurance options before Medicare[32:14] On estimating longevity in a retirement planBRING IT ON WITH KEVIN LYLES  [35:48] Conversations to have with your spouse in retirement[38:11] Tips for successful conversations[40:42] Questions to ask each otherTODAY’S SMART SPRINT SEGMENT  [50:32] Review your capital market assumptionsResources Mentioned In This Episode Viking CruisesRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK -  Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Thank you for hanging in with me for 500 episodes! Today’s episode will veer a bit from the norm as I pause to reflect on our journey and commemorate it with this milestone episode. Listen in to hear my reflections and thoughts from listeners about observations and the meaning of these past 500 episodes. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:33] What I’m proud of from this podcast[6:21] Observations on what it takes to rock retirementLISTENER COMMENTS ON 500 EPISODES  [13:24] Jeanie has gained confidence in her retirement[16:11] Eric appreciates the word iterate[17:28] Mary Ellen appreciated the shows on the RV lifestyle[19:38] One listener appreciated the Wings for Widows link[20:53] The pretirement has helped expand John’s vision of retirement[23:48] Elaine appreciates one of my comments[24:11] Kevin’s thoughtsBRING IT ON WITH MARK ROSS  [25:06] How to navigate retirement without passionsTODAY’S SMART SPRINT SEGMENT  [30:00] Find something to celebrate todayResources Mentioned In This Episode Wings for WidowsEpisode 479 - Widowed In Retirement: Creating A New YouEpisode 442 - Can I Count On Average Returns And Inflation For Retirement? (the interview with Amy Bloom)The RV Series Episode 263, Episode 264, Episode 265, Episode 266 BOOK - Tiny Habits by BJ FoggBOOK - The Daily Stoic by Ryan HolidayRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Do you think the Roth conversion question is an essential part of retirement planning? If you do, you haven’t been paying attention to my podcasts! In this episode of the Retirement Answer Man show, we’ll work through how you can build a framework for deciding whether you should do Roth conversions. If you listened to the Roth conversion series you can’t miss this episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:30] Books I read last month[5:12] Framework for building a Roth conversion[15:42] Considerations for making a Roth conversions[22:07] How to decideLISTENER QUESTIONS  [27:21] Jeffrey appreciated the how of Roth conversions[28:05] A comment on the pro rata rule[29:15] On funding the years between retirement and pension[35:06] On HSA funding strategies in the final year of workBRING IT ON  [38:41] On shifting your mindset[42:00] What thread are you carrying on?TODAY’S SMART SPRINT SEGMENT  [42:35] Schedule a time to go through an OODA loop to decide on your Roth opportunityResources Mentioned In This Episode BOOK - Seveneves by Neal StephensonBOOK - Cryptonomicon by Neal Stephenson BOOK - Reamde by Neal StephensonBOOK - All Quiet on the Western Front by Eric Maria RemarqueBOOK - Dead Fall by Brad ThorEpisode 495 - The Rules for Roth ContributionsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Are you much of a drinker? Studies show that 60% of Americans are, and an even greater percentage of college-educated Americans are. In this episode, Dr. Bobby Dubois and I reflect on the effects of alcohol on retirement. We’ll get into everything: the good, the bad, and the ugly. Don’t worry, we’re still exploring Roths this week by answering your questions. All of our listener questions are related to Roths. If you have a question about our recent Roth series or anything retirement-related leave a voice recording or an email here. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:51] On contributing to a Roth via 401K[5:02] Getting pushback from advisors on converting a 401K to Roth[14:10] How does the 5-year rule apply to a new Roth account[17:28] On implementing a resilient plan[22:30] Clarification on the pro rata ruleBRING IT ON WITH DR. BOBBY DUBOIS  [24:17] Who drinks alcohol and how much[32:41] The good and bad of drinking alcohol [38:56] The ugly of drinking alcohol[45:21] How does alcohol affect you?TODAY’S SMART SPRINT SEGMENT  [48:52] Experiment with your relationship with alcoholResources Mentioned In This Episode Podcast - Huberman LabBOOK - Outlive by Peter AttiaRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

After listening to the past two episodes you now know how to make Roth contributions and conversions, that was the easy part.  Today we discuss the more complicated Roth rules for making withdrawals. To avoid unnecessary penalties and taxes you’ll want to make sure that you clearly understand the regulations surrounding Roth withdrawals. Listen to ensure that you don’t get caught unaware and needlessly get stuck paying avoidable taxes and fees. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:32] Building a target to work for to build healthy habits[6:20] The golden rule of Roth withdrawals[8:58] The order of withdrawals[11:08] How the five-year rule works with contributions[16:41] How the five-year rule works with conversions[19:33] How the five-year rule works with a Roth 401KLISTENER QUESTIONS  [27:11] On taking money from a 401K and moving it to a Roth IRA so that someone can manage it[31:34] How to decide whether to convert funds into a Roth IRA[35:03] Estimating Social Security income using the detailed calculator[36:01] Clarifying the five-year rule start date[38:40] Deciding whether to claim Social Security earlyBRING IT ON   [43:14] Intentions vs actionsTODAY’S SMART SPRINT SEGMENT  [46:42] Catch yourself setting intentionsResources Mentioned In This Episode Dexa ScanBOOK - Outlive by Peter AttiaRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Many of us have missed the boat on Roth contributions, but we have another tool to get into Roths: Roth conversions.  If you have been curious about all the hype about Roths you won’t want to miss this series. This month we dive deeper into Roths. In episode 494 we discussed what Roths are, last week we dove into contributions, and this week we demystify conversions. Listen in to learn how you can use Roth conversions to upgrade your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:44] I try to keep the main thing the main thing[3:49] Many of us have missed the boat on Roth contributions[7:11] How to perform a Roth conversion[8:45] How do you pay the tax on a Roth conversion?[14:05] The pros of paying from after-tax assets[16:22] The downsides of paying with after-tax assetsLISTENER QUESTIONS  [19:05] A rule of 55 clarification[22:20] What happens if my income is too high to contribute to a Roth[23:52] How to create a 5-year cash bucket in down markets[30:13] On creating a bond portfolio ladderBRING IT ON  [38:12] On relationship buildingTODAY’S SMART SPRINT SEGMENT  [43:09] Get out of your normal routine and meet new peopleResources Mentioned In This Episode Episode 494 - Roth OpportunityRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

So many economic predictions for the year have proved incorrect. Since even the brightest economists don’t have a crystal ball, planning your retirement based on economic, market, or investment predictions can lead you astray.  Instead of basing your retirement plan on wishful thinking, learn how to create a strategic retirement plan based on agency. Today, and during this entire Roth IRA series, we’ll see how you can use Roths to enhance your retirement plan. Listen to this episode to hear whether you should be making Roth contributions to help fund your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [5:48] How to make Roth IRA contributions[8:04] How backdoor Roth contributions work[13:47] The difference in the Roth 401KLISTENER QUESTIONS  [19:45] Envisioning family legacy options[28:08] Spousal Social Security benefits[31:26] Optimizing taxes and estate planningBRING IT ON WITH KEVIN LYLES  [39:20] On designing a phased retirement[45:02] Make sure your phased retirement isn’t an excuse to not retireTODAY’S SMART SPRINT SEGMENT  [47:30] Examine whether you should be making Roth contributionsResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

If you’ve been wondering how Roth IRAs work in retirement you’ve come to the right place. All this month we’ll be exploring Roth IRAs–how they work, the 5-year rule, and the differences between Roth conversions and contributions and Roth IRAs and Roth 401Ks.  My goal with this series is to level the playing field so that you can understand the opportunities that Roths provide. On this episode, you’ll learn how you can use a Roth to enhance your retirement. If you are ready to start optimizing your retirement press play. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOKS I READ LAST MONTH  [2:10] What I’ve been reading and how I readPRACTICAL PLANNING SEGMENT  [12:35] Roth accounts in retirement[16:16] What Roths are[20:56] Roth planning opportunitiesLISTENER QUESTIONS  [32:45] A tip for using the detailed calculator on SSA.gov[33:52] How to search for a financial advisor[37:17] On consolidating your IRAs[42:26] Can Kelly roll over her 401K to a Roth IRA or is there a better option?BRING IT ON WITH DR. BOBBY DUBOIS  [50:12] How to implement the tools Dr. Dubois gives us[52:32] Assessing your energy levels[59:22] How to start improving your energy[1:04:39] How to improve the mind-body connection[1:12:46] How to experiment on yourselfTODAY’S SMART SPRINT SEGMENT  [1:14:10] Update your net worth statement and your cash flow statement so you can plan the rest of the yearResources Mentioned In This Episode Episode 487 - The 8 Pillars Of Rocking Retirement: Financial - Resilience And OptimizationThe Detailed calculator on SSA.gov not My SSA.govCatching Up to FI PodcastBOOK - Call Sign Chaos by Jim MattisBOOK - Fooled by Randomness by Nassim Nicholas TalebBOOK - The Alter Ego Effect by Todd HermanObsidian note taking appRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

There are so many questions that come with retirement which is why I focus on answering questions from listeners like you. As you listen to these questions and their answers consider how they fit into your ultimate objective. Listen in to learn why intent matters. In this episode, we’ll explore how to frame retirement questions around your intent, answer listener questions, and in the Bring It On segment you’ll hear a tip about how to rebalance your emotions during stressful conversations. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [4:12] How to use your 5-year cushion[11:32] Does having a civil judgment against me apply to my accounts in other states?[15:55] Bret wants to know more about how to maximize his accumulation stage[19:35] How to reverse a decision to claim Social Security [22:05] Examples of simplifying a portfolio by using ETFs or other all-in-one funds[26:38] How to diversify an overfunded portfolio[32:59] Should I stop the automatic reinvestment of dividends?BRING IT ON  [36:00] A tip to rebalance your emotions in stressful situationsTODAY’S SMART SPRINT SEGMENT  [37:50] Reexamine your intent when making decisionsResources Mentioned In This Episode Brian CainBOOK - Call Sign Chaos by Jim MattisJeremy SiegelBOOK - Stocks for the Long Run by Jeremy SiegelRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

This podcast was created for you–not me. I’m here to help you think differently about retirement and find a concept or tool that will help you take action to rock retirement.  I do this by answering your questions and bringing you content that will open your mind and spur you to get started. If you have a question you would like me to answer, head on over to RogerWhitney.com/AskRoger to leave an audio or written question. Investing in retirement shouldn’t be that complex. The simpler you can keep it the less confusion you’ll have. One listener wonders how she can keep her investments simple in retirement. Find out how to take the complexity out of investing in retirement by listening to this episode.  Afterward, you can take action by considering how to simplify your own investments and make them retirement ready. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:20] What other listeners sayLISTENER QUESTIONS  [5:42] What is the difference between a financial advisor and a wealth planner?[12:48] The KISS concept for investing[19:35] On using direct debt lending organizations[25:00] The difference between bank CDs and brokered CDs[30:18] How to make your retirement plan resilientBRING IT ON  [39:21] On starting your own business in retirement[45:55] Steps to take to get startedTODAY’S SMART SPRINT SEGMENT  [47:37] Take action on somethingResources Mentioned In This Episode FINRA.orgRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

The oldest person is 120 years old, but they probably didn’t have a plan to live that long. Many people don’t have a plan for the decades between 60 and 120. Do you? In this episode of the Retirement Answer Man show, you’ll hear from the CEO of a venture capital firm that funds companies that help people age well, you’ll also hear the answers to several listener questions–including one correction from an incorrect answer last week, and lastly, you’ll hear about developing a learning mindset from Mark Ross in the Bring It On segment.  Can you guess which question I answered incorrectly last week? Listen in to find out and to hear it answered correctly. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN AN INTERVIEW WITH ABBY MILLER LEVY  [2:30] What it was like to start a firm in the midst of the pandemic[6:35] Examples of their investments[13:24] How to plan for decades 6-12[21:52] Integrating AI in a human wayLISTENER QUESTIONS  [25:36] I missed last week’s question - so here’s take two[32:47] How Mike is finding purpose in retirement[33:56] On self-funding long-term care by earmarking accountsBRING IT ON WITH MARK ROSS  [40:06] On adopting a learning mindset in retirement[41:18] What you can do today to develop a learning mindsetTODAY’S SMART SPRINT SEGMENT  [49:15] Stress test your plan against a long-term care eventResources Mentioned In This Episode BOOK - This Chair Rocks by Ashton ApplewhitePrimetime PartnersRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

“If you are looking for someone to believe in, believe in yourself. The only authentic authority is your own original nature.” Vernon Howard Are you ready to start believing in yourself enough to rock retirement? If you have been following this show, hopefully, you are doing the work so that you can build the confidence to lean in and really rock retirement.  On this episode, we have a guest that may help guide and empower you to do the work that you need to do to rock retirement. You’ll also hear about what I've been reading, Answers to listener questions, and how to use your toolkit to fit disease from Bobby Dubois in our Bring It On segment. Press play to feel empowered OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I’M READING  [1:38] What I’ve been reading latelyPRACTICAL PLANNING SEGMENT WITH VERONICA McCAIN  [9:12] Who is Veronica McCain?[15:07] What people are lacking in retirement[21:44] Why she wrote a workbookLISTENER QUESTIONS  [25:07] How does the 5-year rule work for Roth conversions?[29:43] Michael’s book suggestion[31:40] Focusing on the no-go years[36:27] A story on your legacyBRING IT ON WITH DR. BOBBY DUBOIS  [39:25] Our tool kit can help fight heart disease[43:10] Understanding the risk factors of heart disease[57:33] How sleep affects heart disease[59:40] Mind-body work can also improve your risksTODAY’S SMART SPRINT SEGMENT  [1:05:57] Pull one thing a day to declutterResources Mentioned In This Episode SavvyRetirementCoach.comBOOK - My Retirement My Way by Veronica McCainBOOK - Total Recall by Arnold SchwarzeneggerBOOK - Limitless Mind by Jo BoalerBOOK - The Alter Ego Effect by Todd HermanBOOK - The 12 Week Year by Brian MoranBOOK - You Learn by Living by Eleanor RooseveltBOOK - Metabolical by Robert LustigRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

It’s time to wrap up the eight retirement pillars with the final two non-financial pillars: passion and relationships.  In this episode, you’ll learn why happy people always have projects and what you can do to get started building your own passion projects. You’ll also learn why it is so important to develop intentional relationships. Discover these final two non-financial pillars for a rocking retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:15] Projects with purpose[5:43] Obstacles to creating passion projects[8:50] How to build a plan to develop your own passion[10:32] Relationships are an integral part of rocking retirementLISTENER QUESTIONS  [17:50] A spousal IRA question[19:17] Rolling over a 401K to an IRA[28:44] A note on my wording[29:28] Feedback from people on going two to oneTODAY’S SMART SPRINT SEGMENT  [36:27] Go out and take action on something that interests youResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Rocking retirement requires focusing on both the financial and non-financial aspects of retirement. In  the previous two episodes we explored the four financial areas that help build a rocking retirement, and today, we begin to examine the non-financial areas starting with energy and mindset.  After listening you’ll understand why rocking the non-financial part of retirement starts with building your energy. Learn how to improve your energy and mindset by listening to this episode of Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:30] Energy is the first pillar4:17] Create a plan to improve your energy[7:10] Develop a growth mindset[12:46] An example LISTENER QUESTIONS  [15:38] Do you have to be actively earning income to contribute to a Roth?[18:53] How doing their own taxes saved them thousands of dollars (and not only in tax preparer fees)[22:55] Will my spouse receive the COLA as well?[25:28] Are CDs a good way to invest?BRING IT ON WITH MARK ROSS  [29:51] Foster an abundance mindset[35:34] Tools to use to practice an abundance mindsetTODAY’S SMART SPRINT SEGMENT  [37:24] Be aware of the stories that you tell yourself and how they affect your mindsetResources Mentioned In This Episode BOOK - Limitless Mind by Jo BoalerRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Rocking retirement requires getting your financial and nonfinancial ducks in a row. As we work through the 8 pillars of rocking retirement this month, we’ll explore both the financial and non-financial elements of retirement. This week, we’re reviewing the resilience and optimization stages of the financial side of retirement.  If you didn’t listen to the previous episode, make sure to go back and do so first to about the first two financial pillars. In this episode, we’ll be reviewing the next two: resilience and optimization. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?  [1:40] What is the debt ceiling?[5:43] What will happen with the debt ceiling?PRACTICAL PLANNING SEGMENT  [7:55] Make your feasible plan resilient[14:10] Build a funding strategy[18:07] Now it’s time for optimizationLISTENER QUESTIONS  [22:45] Estimating Social Security using the detailed calculator[25:02] The pros and cons of investing in REITs and private funds[31:45] Choosing a retirement planner vs. a CFP[36:16] Should Tammy sell one of her rental propertiesBRING IT ON   [41:28] What micro roles can you play in various relationships?TODAY’S SMART SPRINT SEGMENT  [47:20] Assess the resilience of your retirement planResources Mentioned In This Episode SSA.gov detailed calculatorEpisode 486 - The 8 Pillars Of Rocking Retirement: Financial - Vision And FeasibilityRetirement Plan Live episodes with Rosie - 468, 469, 470, 471Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

If you don't know where you are going any path will get you there. This is why it is so important to have a vision of where you want to go–you don’t want to end up anywhere! This series is dedicated to teaching you the 8 pillars to rock retirement. In this episode, we focus on creating a vision so that you can create a feasible pathway to get you to your vision.  Listen in so that you aren’t wandering aimlessly through your retirement. Press play to learn how to visualize your goal and create a way to get there. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:52] What do you want?[6:32] What are your objectives?[8:14] What are the obstacles?[12:39] How to make your plan feasibleLISTENER QUESTIONS  [18:54] A tip about going from two to one[20:57] A pie-cake baking tip[22:22] How to consider long-term investing when you get older[29:01] Would a stable value fund be a healthy or junk investment?BRING IT ON WITH KEVIN LYLES  [34:17] How volunteering can improve your retirementTODAY’S SMART SPRINT SEGMENT  [40:38] Think about your life as if it were a clean slateResources Mentioned In This Episode LiveWithRoger.comBOOK - The Top Five Regrets of the Dying by Bronnie WareFences for FidoRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

This month we’re heading back to basics. All month long we’ll be building your foundational understanding of how to create a rocking retirement. If you’re new to the show, this is a fantastic starting point. If you are a long-time listener you’ll appreciate this review. In this episode, you’ll learn how to solve the essential problems of retirement planning: how to live a life without regret and how to balance squeezing as much out of life as possible today while ensuring that you have enough financial stability so that you won’t be a burden to others in your later years.  Listen in to learn how to build a retirement that you can be excited about. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOKS I READ LAST MONTH  [1:30] My monthly reading listPRACTICAL PLANNING SEGMENT  [8:22] My experience in retirement planning[9:38] The retirement challenges you’re facing[15:35] Problems with traditional retirement planning[19:18] 3 things you need to have hope[21:10] Why I use an agile project management approachLISTENER QUESTIONS  [27:33]Could joining the RRC help Matt help his mother-in-law?[30:05] On sharing the results of the survey[31:40] A book recommendation[33:33] How to transition to the decumulation stageBRING IT ON WITH DR. BOBBY DUBOIS  [40:33] How exposure to heat and cold can benefit you[42:02] The history of using heat and cold to relax and heal[44:20] Defining heat and cold exposure[47:08] The evidence that supports exposure[53:09] The downsides[55:13] The benefitsTODAY’S SMART SPRINT SEGMENT  [1:03:50] What is your planning process?Resources Mentioned In This Episode LiveWithRoger.com - Join me on May 11 or May 13, 2023, to learn the 4 phases of great retirement planning and to hear more about the Rock Retirement Club!BOOK - Unreasonable Hospitality by Will GuidaraBOOK - The Creative Act - Rick RubinBOOK - The Tiger by John VaillantBOOK - What Are People For? By Wendell BerryBOOK - Atomic Habits by James ClearBOOK - Tiny Habits by BJ FoggBOOK - Why Zebras Don’t Get Ulcers by Robert SapolskyEpisode 481 - I’m in My Fifties and Got Laid Off. What Should I Do?Morning Star’s The Long View Podcast - Retirement Planning Is Not Financial PlanningRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

How will Social Security benefits fit into your retirement equation? If you have a spouse, there is an added level of complexity when considering your Social Security claiming strategy.  We explore this topic and more through listener questions on today’s episode of Retirement Answer Man. Learn what to consider and how to approach the Social Security question by pressing play. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [3:49] Kathy shares Soaring Spirits International – a widows' group[4:33] Claiming Social Security strategies[9:55] Non-qualified stock options[18:39] Simplifying your investments going into retirementBRING IT ON  [32:19] Having passions or projects to drive you[35:09] Plan your days in retirementTODAY’S SMART SPRINT SEGMENT  [36:47] Declutter one thingResources Mentioned In This Episode Soaring Spirits InternationalSSA.govRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

If you are thinking about retiring in the next few years you’re probably wondering what the best tools are to help you plan. Finding the right retirement planning software can not only help you plan retirement but help put your mind at ease so that you can Rock Retirement! One listener asks my opinion on the best retirement software to use. If you are curious about my answer you’ll press play.  In this episode, you’ll also hear about the books I read in March, an interview with Steven Chen from the New Retirement Calculator, and learn the benefits of creating horizontal relationships. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOK REVIEWS  [1:30] Books I read in MarchLISTENER QUESTIONS  [5:30] Which retirement software should I use?[11:49] On using dividend investing to fund retirement[20:19] On using indexed annuities with downside protection[24:04] A recommendation for my wife, Shawna[24:55] Looking for a financial planner that is a retirement consultant STEVEN CHEN INTERVIEW ON THE NEW RETIREMENT CALCULATOR  [26:45] What New Retirement Calculator users think about[33:06] Planning for the future[38:36] What’s new with the New Retirement CalculatorBRING IT ON  [41:55] The benefits of creating horizontal relationshipsTODAY’S SMART SPRINT SEGMENT  [47:10] Revisit your allocation planResources Mentioned In This Episode NAPFAGarrett Planning NetworkNew Retirement CalculatorMoney Guide Pro EliteFinancewareBOOK - The Courage to Be Disliked by Ichiro KishimiBOOK - Make Your Bed by William McCravenBOOK - Sea Stories by William McCravenBOOK - Build by Tony FadellBOOK - Top Five Regrets of the Dying by Bonnie WareMorningstar’s The Long View Podcast - Retirement Planning Is Not Financial PlanningLiveWithRoger.com - Register for the webinar on May 11, 2023 to discover the 4 Phases of a Great Retirement PlanRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

We continue our focus on you this month as we dive deeper into listener questions. Today we have a range of questions from various aspects of the retirement process. If you have a question you want to be answered, head on over to RogerWhitney.com/AskRoger. You can type in a question or leave an audio recording–those are my favorites! Listen in to learn how to work through the decumulation phase of retirement by developing a withdrawal plan that fits your needs. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [3:32] What are the advantages or disadvantages to using bond funds to create an income floor?[9:21] How do I report a QCD on my income tax return?[14:50] Can you contribute to a Roth IRA with only a 1099 income?[16:00] On doing a series on grey divorce in the future[17:14] Where to pull money from first in the decumulation phase[23:04] Where to put your passwordsBRING IT ON  [28:20] Are we ever enough?TODAY’S SMART SPRINT SEGMENT  [31:01] Confirm that your spouse knows your passwordsResources Mentioned In This Episode Everplans1PassRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

All month long, I’ll be answering fantastic questions from listeners like you. Today, we’ll explore the steps you should take if you’re in your 50s and get laid off.  Have you ever thought about what you would do in this situation? Listen in to find out.  In the Bring It On segment, Dr. Bobby Dubois helps us understand the effects of stress and what we can do to combat stress so that we can live longer, healthier lives. You won’t want to miss his four exercises for working through everyday stressors. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:38] Who is listeningLISTENER QUESTIONS  [6:38] In my fifties and laid off. What should I do?[17:08] Is there a widows group within the Rock Retirement Club?[18:11] What can retirees do to protect themselves from the effects of the government reaching the debt ceiling?BRING IT ON WITH DR. BOBBY DUBOIS  [25:05] Another skill to keep you healthy [27:45] Defining mind-body activities[29:22] Defining stress[34:22] Stress affects many areas of our lives[38:35] What you can do to combat stress in your life[44:20] How to try stress relieving exercises to see if they work for youTODAY’S SMART SPRINT SEGMENT  [46:40] Assess your situation and do some basic triageResources Mentioned In This Episode Wings for WidowsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Reimagining life after widowhood can be challenging. In the beginning, it may seem like something that is impossible to imagine. Even if life seems insurmountable at the beginning, it is crucial to remember that someday you will be able to enjoy life again. Just not yet. Yet is an important word. Yet helps you understand that things will not always be as they are now. Today you’ll learn how to change your mindset from I can’t do this to I can’t do this yet.  On this episode of Retirement Answer Man, you’ll hear wisdom from those who have traveled this same journey. They open up and share their financial and nonfinancial experiences. You’ll hear what has helped and what hasn’t, their challenges and triumphs, and how they have learned to power through and begin to create new dreams. Listen in to hear these brave widows share their stories so you can understand that a new life after widowhood isn’t impossible. The power of yet can change your mindset and help you rebuild your dreams. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WIDOWS LIVING A GREAT LIFE  [3:20] Emma has had difficulty navigating the nonfinancial side of widowhood[9:30] It has taken time to reimagine her goals[11:20] Insights from the financial side[17:03] Mary needed time to grieve[23:00] How Mary managed the project[25:12] The nonfinancial side of widowhood[28:20] The financial side of widowhood[35:15] A new widow’s perspectiveTODAY’S SMART SPRINT SEGMENT  [42:40] Think about how you can use the word yet to envision what is yet to comeResources Mentioned In This Episode BOOK - Getting Grit by Caroline MillerEverplansRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Nobody wants to face life as a widow or widower. However, it is an unfortunate reality that many must face. Successfully navigating widowhood could be easier if you could prepare yourself in advance. In this Widowed in Retirement series, we aim to do just that.  Today you’ll learn how you can start life again on your own. Mark Trautman joins me again to discuss his experience moving forward after the death of your spouse. He touches on prioritizing actions to take, setting up a summarized retirement plan, and rebuilding your life as a single person.  While we didn’t have time for Listener Questions today, we have a bonus interview with Chris Bentley from Wings for Widows as well as a chat with Lori Mage in our Bring It On segment. Listen in to learn what you can do to rebuild your life and begin again. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT A CHAT WITH MARK TRAUTMAN  [5:16] Our time is finite - make use of it[7:42] Could people have reacted better?[10:55] What were short-term actions[18:02] A retirement plan summary document[20:39] Going forwardA CHAT WITH CHRIS BENTLEY FROM WINGS FOR WIDOWS  [23:04] How he decided to create Wings for Widows[31:52] Working with the financially illiterate [38:02] How to plan for widowhoodBRING IT ON WITH LORI MAGE  [41:02] On relationships[43:33] What Lori did to build a relationship with herselfTODAY’S SMART SPRINT SEGMENT  [50:30] When you mess up say it was a mis-takeResources Mentioned In This Episode Lori MageHeroic AppWings for WidowsFoundation for Financial PlanningBOOK - The Leadership Challenge by James KouzesBOOK - After the Death of Your Spouse by Mike PiperBOOK - Option B by Sheryl SandbergRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

If you are married, chances are you or your spouse will have to suffer through widowhood. The Widowed in Retirement series aims to help you navigate this difficult transition as best you can. Today, Mark Trautman joins me again to discuss how to work through the huge financial changes that result from losing a spouse.  There are myriad financial considerations to be aware of during this change, so this may be an episode that you want to bookmark to refer back to later or send to a friend in need. Press play to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:26] A common myth of widowhood[5:11] What changes occur when you go from two to one[9:27] Expenses don’t change[16:44] Creating a new financial plan[20:20] Tax planning[25:25] Social Security benefitsLISTENER QUESTIONS  [36:55] A 59 ½ IRA withdrawal rule question[38:52] How to calculate the 5-year rule for a Roth IRA[40:27] How to handle the cash bucket in a down market [45:03] Healthcare before MedicareBRING IT ON WITH MARK ROSS  [49:11] What is passion?[51:23] How to explore your passions[55:15] Building boundaries around your passions so they don’t become workTODAY’S SMART SPRINT SEGMENT  [58:45] Put dabble on your calendarResources Mentioned In This Episode BOOK - After the Death of Your Spouse by Mike PiperBOOK - Taking Stock by Jordan GrumetBOOK - AARP Checklist for My Family by Sally Balche HurmeBOOK - So Good They Can’t Ignore You by Cal NewportBOOK - How to Think Like Leonardo Da Vinci by Michael GelbEverplansEpisode 477 - Navigating Life ChangesRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center 

Even though it is difficult to think about it, at some point, those of us who are married will have to think about one of you transitioning from two to one.  This week we’re exploring the nonfinancial impacts of this transition with someone who has walked this journey. Rock Retirement Club member, Mark Trautman shares his personal journey through his life-changing experience.  Mark shares the challenges and the tools that have helped him get through this heartbreaking part of his life so that he can move forward and rock retirement on his own.  After the main segment, you’ll hear our listener questions and then we’ll Bring It On with Dr. Bobby Dubois. Dr. Bobby will help us understand why sleep is so important and what we can do to improve the quality of our sleep. Don’t miss out on this important episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:27] The more open you are the more you can deal[7:58] What you lose when you lose a spouse[11:38] Redefining goals after widowhood[16:23] Dealing with grief[21:33] Building community LISTENER QUESTIONS  [31:20] My response to a scathing review on Retirement Plan Live[34:54] Another Retirement Plan Live review[37:28] How to replenish funds [44:48] A question about Rosie’s HELOC loan[46:31] Insight on huzzah!BRING IT ON WITH DR. BOBBY DUBOIS  [48:41] Why is sleep so important[51:52] How to improve sleep[58:33] How to get to sleep[1:04:30] Dealing with chronic pain and sleepTODAY’S SMART SPRINT SEGMENT  [1:14:59] Use Bobby’s tips to experiment with your sleepResources Mentioned In This Episode Examine.comBOOK - Why We Sleep by Matthew Walker Leeds sleep evaluation questionnaireBOOK - Taking Stock by Jordan GrumetRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

If you have been listening to this show for a while, chances are you already know how to rock your retirement. However, this can all change with the loss of a spouse. All of your best-laid plans change in an instant. That’s why this month we are focusing on going from two to one.  Learn how to navigate your mindset–transition from this sucks, to how I will work through this, to having a great life. Press play to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [5:47] Announcements[6:44] Books I read in FebruaryLISTENER QUESTIONS  [11:46] Roth conversions and taxes[17:31] Roth conversions or capital gains?[23:10] How to create a paycheck between ages 62-72BRING IT ON WITH KEVIN LYLES  [29:12] Finding meaning and purpose in retirement [38:52] Create a mission statementTODAY’S SMART SPRINT SEGMENT  [41:05] Think about your mindsetResources Mentioned In This Episode Episode 310 - The Pie CakeAndy PankoBOOK - Traction by Gino WickmanBOOK - Be 2.0 by Jim CollinsBOOK - Rethinking Positive Thinking by Gabrielle OettingenTV SERIES - SAS Rogue Heroes on MGM streamingTV SERIES - Shrinking on Apple TVRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Life is what happens to us when we are busy making other plans. This is especially true during transitions. As I transition to adding a new segment to this show, it’s gotten a bit messy. It’s been a bumpy road and not everything has gone according to plan. Listen in to hear how this applies to retirement planning. While you’re at it you’ll hear how to decide whether to rebalance a portfolio and how to nurture relationships. Press play so that you can start rocking retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [0:39] Life is happening nowLISTENER QUESTIONS  [5:35] Should I rebalance now?[11:52] Selling rental properties[16:13] Do I take the pension or the lump sum?BRING IT ON WITH NICK KENNEDY  [21:28] The 4 quadrants of relational nutrients[29:29] Take action and be presentTODAY’S SMART SPRINT SEGMENT  [31:50] Get the relational nutrient card and practice itResources Mentioned In This Episode Pension or Lump Sum on YouTubeBOOK - People Fuel by John TownsendRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Do you ever feel like a curmudgeon when you hear about new technology? Listen in to find out what has me putting on my sourpuss hat this week. We have a variety of interesting listener questions this week. Listen in to learn about purchasing brokerage CDs and CDs on the secondary market, how to decide whether to take the pension or the lump sum, and how to determine whether to become a 1099 contractor rather than a W2 employee. In the Bring It On segment you’ll hear about what work looks like in retirement from Mark Ross. Spoiler alert: you can work in retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [4:06] Brokerage CDs and CDs on the secondary market[9:34] How to decide to take the pension or the lump sum[14:38] What does huzzah mean?[15:18] How to determine whether to become a 1099 contractor rather than a W2 employeeBRING IT ON WITH MARK ROSS  [22:31] What work looks like in retirement[24:45] How to determine whether you should work in retirement[28:49] 3 categories of work[31:00] What you can do to help you determine your work in retirementTODAY’S SMART SPRINT SEGMENT  [31:53] Download the Relational Nutrient CardResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Recently, we had the finale of the Retirement Plan Live series, so I want to share my observations on what we can all learn from Rosie’s experience. There was a lot to unpack from Rosie’s plan. Before we get to the Listener Questions segment, I’ll share my thoughts with you.  Make sure to stick around after the listener questions to hear the Bring It On segment with Dr. Bobby Dubois. You’ll hear about building energy in retirement through your emotional, cognitive, and social well-being. Learn how to use these powerful ways to live longer and stay healthier in retirement. My observations on the latest Retirement Plan LIve with Rosie  Rosie recently shared her retirement plan with all of us in our Retirement Plan Live series. This is a very public way to plan for retirement, so she was brave to put herself out there to share her situation openly. Unfortunately, Rosie’s current trajectory is not feasible and she and her husband are on track to run out of money within ten years.  Coming to this understanding while live in front of 1000+ people is incredibly difficult, but now she can correct course to get back on track. This wasn’t only a learning experience for Rosie, it was for me as well. Here are a few of my takeaways from this experience. A plan must be feasible  and resilient  Rosie retired in mid-2021 in the middle of a bull market when interest rates were zero. She was working with a financial planner, so there were projections that showed her plan was feasible. However, there was nothing done to make that plan resilient in the face of challenging circumstances.  Her withdrawal rate did not match up with the assets they have and nothing was done to compensate when the sequence of return risk reared its ugly head. Without resiliency designed into the plan, it fell apart quickly. They are now in a position where they have to make some tough decisions. A feasible plan is like a lit candle. It can burn; however, a gentle breeze will blow it out. Having a resilient plan is like having a fire. When a wind comes by it won’t go out–it may even gain more strength with the added fuel. An accumulation investment strategy doesn’t work in retirement  Going into retirement Rosie and Dwayne were invested in 75% equities. Since they were already constrained as they approached retirement, they needed to be a bit more conservative. Their monthly systematic withdrawals came directly from selling those equities and they had no decumulation strategy. The result is that they are now underfunded. There is a difference between a financial advisor and a retirement planner  Even though Rosie and Dwayne were using a certified financial planner, they still got blown off course. A financial advisor is similar to a general practitioner in medicine. They are not retirement specialists, so they may not understand how to build resiliency into a retirement plan. A retirement planner goes deeper on how to create a decumulation plan that has resiliency built in. They also understand that selling equities to meet withdrawals doesn’t work in a constrained retirement situation. Communication is crucial  It was clear that there were communication issues between Rosie and her advisor. She assumed there was safe money set aside somewhere while there wasn’t. This incongruence between what she thought and what her advisor understood has also contributed to their current situation.  While Rosie had conversations with her advisor, they were surface-level, and she didn’t pose follow-up questions to help improve her understanding of the situation. She didn’t understand the decumulation plan to create her retirement paycheck. This vital detail was missing. One year into retirement and her retirement plan fell apart. They didn’t analyze the opportunities to increase their social capital   Both Rosie and Dwayne took Social Security early so that they could try and preserve their assets as long as possible. This was always what they had planned, so they never considered anything else. Had they carefully considered a different strategy for filing for Social Security, it may have made a difference in their trajectory.  Have you listened to the latest Retirement Plan Live series? Did you attend the results webinar? If you missed it check out the replay. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:05] My observations from the Retirement Plan Live webinarLISTENER QUESTIONS  [11:40] Is deferred compensation considered earned income during the distribution period?[14:17] When can someone collect Social Security survivor benefits?[17:13] On setting aside a 5-year fund as the basis to building the pie cake[25:51] On spending psychology during the go-go yearsBRING IT ON   [30:43] On building energy in retirement through emotional, cognitive, and social well being[32:15] Your sleep, social, mind-body connection, and exposure to extreme climate can greatly affect your well-being in retirement[35:55] Why is sleep so important?[39:10] How social interaction affects your health[42:02] What do we mean by mind-body connection?[43:03] How does exposure help improve energy?TODAY’S SMART SPRINT SEGMENT  [47:33] Choose one thing to start doing to improve your energyResources Mentioned In This Episode The Retirement Plan Live replayRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

I’m excited about our newest segment, Bring It On with Kevin Lyles. The Bring It On segment will discuss mindset and other non-financial aspects of retirement.  In addition to our newest segment, today you’ll hear about the books I read in January and listener questions.  Learn how to calculate a decreased benefit when retiring early, which accounts to draw from to minimize taxes, how to manage 401Ks through a company transition, and what to consider when choosing a financial advisor.  Join me for this episode of Retirement Answer Man to explore the latest issues in retirement and beyond so that you can get ready to rock retirement. The latest books I’ve been reading  In January I had the opportunity to finish reading four books. Most are nonfiction, but I threw a fiction book in for good measure. How to Think Like a Roman Emperor by Donald Robertson - This book is on stoicism and discusses the qualms we have when contemplating our own death and aging. The fear of death and aging can make us fearful, so by bringing that touchy subject out of the shadows, we can embrace the inevitable and live more fully in the moment. Never Finished by David Goggins - Since this book was written by a Navy SEAL, it has some salty language. However, David is a living example of what you people can endure and do. We have capabilities far beyond what we can imagine. The Boys from Biloxi by John Grisham - John Grisham writes formulaic legal thrillers, but his formula works. I enjoyed the history and background that he included of Biloxi, Mississippi. The Comfort Crisis by Michael Easter - This is another book about getting outside your comfort zone. Michael Easter completed a monthlong hunt in the Arctic–far outside of his comfort zone. This book was my favorite this month–it will challenge your thinking. Michael explores the idea of stretching yourself by doing something you think may not be possible.  If you have any book recommendations for me reply to the 6-Shot Saturday newsletter. Why mindset is so important  Mindset is the attitude that you bring to your life and retirement. It drives how you respond to the challenges you face when you’re transitioning and living your life. The mindset you bring to those challenges will make all the difference in the world. There is now more data regarding mindset with the science of positive psychology. Science shows that mindset matters and affects not only how you feel but outcomes. People who seek out the bad see more bad things, those who look for the good in the world see things in a more positive light. What to expect from the Bring It On segment  In our newest nonfinancial segment, we’ll discuss several nonfinancial issues related to retirement: dealing with boredom, losing status, mindset, attitude, aging, identity, gratitude and so much more.  Think about your own attitude about retirement and aging. What are the top five words that come to your mind? Discuss your thoughts with your loved ones. Could your thoughts be improved? Do you need to change your mindset? OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:06] The books I’ve been readingLISTENER QUESTIONS  [7:42] Addressing feedback on the show[9:32] Feedback from the past Retirement Plan Live[10:36] How to calculate a decreased benefit when retiring early[15:04] Which accounts to draw from to minimize taxes[20:42] How to manage 401Ks through a company transition[22:03] What to think about when choosing a financial advisorBRING IT ON WITH KEVIN LYLES  [27:15] Why mindset is so important[32:04] How important a social network isTODAY’S SMART SPRINT SEGMENT  [35:50] Write down what comes to mind when you think of aging and deathResources Mentioned In This Episode BOOK - Flourish by Martin SeligmanBOOK - How to Think Like a Roman Emperor by Donald RobertsonBOOK - Never Finished by David GogginsBOOK - The Boys from Biloxi by John GrishamBOOK - The Comfort Crisis by Michael EasterGoRuck.comSocial Security Detailed CalculatorRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Retirement can be tricky. There are so many unknowns, so preparing yourself mentally can be a challenge.  Mental toughness is the ability to remain positive and proactive in the most adverse situations. Our Retirement Plan Live volunteer, Rosie, is having to rely on mental toughness to stay on target through an extra challenging early retirement. Join Rosie and me today as we discuss the impact that the bear market had on her finances at the start of her retirement. Rosie is trying to get her retirement back on track  Rosie and her husband Dwayne didn’t retire in the best circumstances. Inflation and market fluctuations haven’t been on their side. This sequence of returns at the beginning of their retirement is not faring well for their portfolio. Now they are trying to assess whether they are on a feasible path or whether they’ll need to make some adjustments.  Simply by walking through this process they are already being proactive. They are assessing the damage and seeing how they can shape a plan for the future to get back on track. It’s challenging to enjoy the go-go years without a safety net  While Rosie is more risk-averse, her husband Dwayne enjoys researching and investing in individual stocks. He uses about 10% of their total savings to play around in the market investing in his favorite publicly traded companies.  Rosie estimates that about 75% of their total portfolio is in stocks and this makes her feel a bit anxious especially since their portfolio is down about 20% from last year.  She would like to be enjoying her go-go years, however, without a healthy cash reserve in place, or a long-term care plan, she doesn’t have the security in place to let loose and rock retirement. Without a cash bucket set up, their $8,500 per month is coming from a systematic selling of their investments, but she’s not sure where they should go from here. Don’t miss the culmination of the past four episodes  If your retirement isn’t going to plan, it is important to acknowledge where you are now so that you can mitigate the damages and reset your course. You can’t simply ignore the situation and wait for someone to tell you that everything is going to be okay. You’ll need to understand the nuances of your financial situation to determine the best way forward.  Join us on February 2 at 7 pm CST for the grand finale of this year’s Retirement Plan Live. I’ll walk Rosie through her retirement plan and we’ll determine whether or not it is feasible. Then we’ll look for risks and opportunities. As a participant, you’ll have the opportunity to ask questions and see how the process plays out.  After the live meetup, consider joining the Rock Retirement Club. The Club was created to give new retirees a solid framework and trusted tools to use to build a feasible, resilient retirement plan that will give members the confidence to rock retirement. In addition, RRC members have created an amazing, inviting community filled with people on the same journey. Learn more by joining the live meetup. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE  [4:47] Rosie’s questions[7:12] Understanding Rosie’s annuity[16:52] Understanding the software we use[18:32] Understanding the sequence of returns risk[27:07] Rosie’s experience with advisorsLISTENER QUESTIONS  [36:36] Do you calculate using tax-deferred dollars to create a paycheck in retirement?[44:32] Using a draw-down strategy for a 401K[47:57] How to get a better interest rate from cashTODAY’S SMART SPRINT SEGMENT  [50:40] Reassess your trajectory to achieving your goalsResources Mentioned In This Episode Join the live meetup on February 2 at LiveWithRoger.comMoney Guide Pro Elite retirement toolNew Retirement CalculatorRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Take a breath, check yourself, and then observe where things are at.  That’s what Rosie and I are doing on this episode of Retirement Plan Live. After the last episode in which Rosie planned out all her hopes and dreams for retirement, today we’re taking a look at her financial picture. We’ll walk through the sources of her social, human, and financial capital to see where she and her husband stand financially.  Listen in and create your own plan as we go. Make sure to sign up for 6-Shot Saturday to ensure that you get all the worksheets to work through your own retirement plan with me and Rosie. Sign up for the grand finale on Feb 2, 2023  Have you signed up for the live webinar on February 2? This will be the grand finale to this year’s Retirement Plan Live. We’ll see if Rosie’s dream retirement is feasible with her resources. We’ll also identify potential risks and opportunities that she should watch out for. Head on over to LiveWithRoger to register. How will Rosie pay for those retirement dreams?  We can never know anything for certain, about our financial future, but we can build a solid framework to build up our confidence in our plan. Last week, Rosie laid out her retirement goals and as she did so she tied those into her values. Our goals are really just a representation of our values.  As we walk through Rosie’s finances we analyze three different types of capital: social, human, and financial. Social capital includes guaranteed payment sources. The most familiar example of social capital is Social Security. Rosie and Dwayne don’t have any pensions, but Rosie is collecting $2200 per month from Social Security. Soon Dwayne will also receive $1800 per month from Social Security as well. In about six years they will begin to receive a small annuity payment.  Dwayne is the one providing human capital with his flexible part-time work online. This work contributes between $15-20,000 per year. He plans to continue working part-time for about six more years.  Their financial capital includes $30,000 in after-tax assets, $680,000 in pre-tax assets, and $55,000 in tax-free assets. Build your net worth statement as you listen  Listen in to hear what other kinds of assets Rosie and Dwayne have as we walk through building a net worth statement. When was the last time you updated your net worth statement?  January is a great time to observe where you are financially so that you can marshall your resources to ensure that you can achieve your goals. As Rosie and I build her net worth statement you can too. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE  [4:20] Their social capital[6:30] Their human capital[7:35] Their financial capital[9:02] Their other assetsLISTENER QUESTIONS  [15:54] A Social Security error - who to call?[19:36] What can Sarah do to get closer to retirement under less than ideal circumstances?[24:00] How to know if benefits will continue to increaseTODAY’S SMART SPRINT SEGMENT  [26:56] Update your net worth statementResources Mentioned In This Episode SSA.gov - overpaymentSocial Security episodes 228, 229, 230, 231, 232Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center 

Setting big goals is great, but they have to be the right goals or else they could become a trap. Rosie joins us again today to set her retirement goals. In this episode, you’ll hear her financial goals for her needs, wants, and wishes. We’ll discuss her financial expectations for each of these categories and how her goals fit into her values.  Don’t miss out on this second episode of Retirement Plan Live. When you finish listening, head on over to LiveWithRoger.com to register for the live meet-up on February 2 where we will break down Rosie’s plan in detail and decide whether or not she’ll be able to live out her retirement dreams. Goals must be driven by values  In the previous episode, you met Rosie and learned about her situation and her values. We start each Retirement Plan Live series with values because values are what drive our goals. If you set your goals up too rigidly or shoot for the wrong goals then you are working toward something without really desiring it. Goals are important to have because they framework of what you are trying to achieve. Listen in to learn how Rosie uses her values to drive her goals. What makes a base great life?   What does it take to build a base great life? The base great life is the line in the sand that you can’t cross. It is what you need to have in place to secure a basic life worth living.  Rosie estimates that it would take about $5000 per month (excluding healthcare costs) to live her base great life. Listen in to hear what she includes in her base great life and why this doesn’t mean eating rice and beans every day. Rosie’s wants and wishes  Rosie values travel and would love to spend about $24,000 per year for the next 5 years on travel expenses. After that, she estimates that she would continue to travel but would slow down on spending but still spend around $15,000 per year for the following 8 years.  Other discretionary expenses would include $10,000 per year on eating out more frequently and spending on loved ones. Adding in these extra wants and wishes would take Rosie and her husband about $117,000 per year. Follow along and create your own agile retirement plan   This week, I encourage you to look at your retirement goals with fresh eyes so as not to limit your thinking. Really hone in on what it takes to build your base great life, then add in the layers that build up your wants and wishes. Shed away your inhibitions as you consider your wishes category. As you listen to Rosie’s journey, why not follow along for yourself? Make sure you are signed up for the 6-Shot Saturday newsletter to receive the corresponding worksheets for each episode. Every week during the Retirement Plan Live series we’ll send out a worksheet to help you work through each stage in the agile retirement planning process. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE  [4:03] What is a base great life?[10:45] Discretionary spendingLISTENER QUESTIONS  [25:33] Can Tim’s wife retire?[32:37] Can Crimaud collect Social Security without a green card?[35:25] How to work in tithing in retirementTODAY’S SMART SPRINT SEGMENT  [40:38] Revisit your needs, wants, and wishesResources Mentioned In This Episode Collecting Social Security in CanadaRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Rosie and Dwayne retired in a bear market and now they wonder if they will have enough money to rock retirement. We will explore that question all month long in this Retirement Plan Live.  Over the course of the next few weeks, you’ll learn about Rosie and Dwayne and their journey, their goals, their resources, and their investment strategy. Then we’ll wrap up this series together with a live webinar on February 2. Don’t miss out on the exciting finale, sign up at LiveWithRoger.com. Meet Rosie and Dwayne  Rosie and Dwayne live a fairly simple lifestyle. They don’t own a big house or drive flashy cars. They don’t take lavish vacations or eat at fancy restaurants. Although they live simply they do have their own retirement dreams. When Rosie retired a year and a half ago she figured the worst of the Covid debacle was behind her. She had seen the flash bear market, but since then, the markets seemed to be doing well. Unfortunately, within a year of retiring, she watched her assets decrease by 25%. Now she is left wondering if she’ll ever be able to live out her retirement dreams.  Rosie and Dwayne both worked in the IT sector before Covid hit. While Rosie was able to work from home, Dwayne was laid off and has since begun flexible part-time work. Working from home simply enticed Rosie to fully dive into retirement. What Rosie loves about retirement  Rosie loves the time freedom that retirement brings. She has plenty to do to keep busy: spending her days with her grandkids, at the pickleball court, going to exercise classes, and cooking. Rosie is a natural organizer and creates a weekly plan complete with to-do lists.  Enjoying the love of family and friends and traveling are what brings her joy and how she desires to spend her time in retirement. Rosie’s fears about retirement  With Covid and the subsequent bear market, Rosie feels that she is missing out on fully enjoying retirement. She is very aware of the passing years and understands that time is precious. She feels frustrated that she may not have enough time to do all the things that she wants to do and go to all the places she wants to go.  Her financial situation is much different than it was a year ago although that hasn’t caused her to change her spending habits. She’s trying not to let her emotions drive her decision-making.  Rosie understands that she needs a clear mind and that she should stay the course that she and her husband laid out with their financial advisor. While she understands that logically, she is still concerned about their future. Over the course of this series, Rosie is looking for more input and a better understanding of what changes she needs to make to ensure that she can live out her retirement dreams. You can follow along with Rosie by using the Agile Retirement Planning process  Follow along over the next four episodes to hear how we use the Agile Retirement Planning process to discover if she and Dwayne are really ready to live out their retirement dreams. As we work through this Retirement Plan Live series you can follow along and participate in your own retirement plan with the same helpful worksheets that Rosie is using to guide you on your way. Make sure that you are signed up for the 6 Shot Saturday email newsletter to get each week’s worksheet delivered to your inbox. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:35] Just say no to New Year’s resolutionsRETIREMENT PLAN LIVE  [6:05] Let’s meet Rosie[15:17] What Rosie thinks about retirement so far[23:56] What makes her most frustrated[26:54] How retirement has been financially[30:45] Rosie’s top ten valuesLISTENER QUESTIONS  [38:44] Is there an optimal balance among the allocation between tax categories[43:43] How to factor a whole life insurance policy into your retirement plan[47:51] The max limits to a 457 and 403B[50:42] Is it ever better to take Social Security at 62?TODAY’S SMART SPRINT SEGMENT  [54:33] Make daily resolutions to improve your energy, work, and relationshipsResources Mentioned In This Episode Morningstar The Long View podcast #186 - Roger Whitney: Retirement Planning Is Not Financial PlanningRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

This is our last episode of 2022, so naturally, there will be a bit of reflection alongside the practical planning and your listener questions. Kevin Lyles also joins me in the Coach’s Corner to discuss living your best life in retirement.  Let’s noodle on what it means to live authentically and discover the answers to some fantastic questions that will help guide you on your retirement journey. Stick around until the end of the episode to hear my word for 2023 and how I plan to review my year. Be the author of your hero’s journey  To be authentic literally means to be your own author. That’s what planning your retirement journey is all about. By building a framework to rock retirement you are writing your own story.  I’m excited to wake up each day and help give you ideas to write your retirement story. By being the author of your own life you will be authentic and live without regret. To start the new chapter of your life consider where you are on your journey. The hero’s journey framework can help you navigate so that you can figure out what is important to you. Don’t miss the call to adventure  The hero’s journey is a cycle of constant death, rebirth, and renewal. Some version of you has to die before you can become reborn into your new self.  If you haven’t retired yet then you are still in Act One of the hero’s journey. In this first act you are being called to something other than your full-time career. Being called to an adventure can be a powerful force. It is a force so powerful that oftentimes our first response is to resist the call.  However, if you embrace the call you can find mentors to help you along the way. These mentors can come in the form of books and podcasts and they can be people who are further along in their journey that you can look to answer questions along the way. Act Two requires a leap of faith  To step into Act Two you must take the leap of faith. As you journey into retirement this means stepping away from your old life and into the unknown. Along the way, you’ll face allies and enemies, but you cannot know the trials and ordeals you will encounter throughout this adventure. You’ll need a framework to help you navigate Act Three   In our Third Act of your hero’s journey, you will overcome the trials and ordeals, but only if you have a framework to help us along the way. This is where I come in. Building that framework to help you through the trials and tribulations of retirement is what this show is designed to help you do. I aim to be your mentor and ally along the way. Some version of this journey plays out in different ways throughout our lives. I’m excited to begin this new chapter with you. We’ll be focusing on building out the financial plan, but as you know, a financial plan alone isn’t the only thing you need to conquer this journey and rock retirement. I look forward to helping you build your retirement in the new year and beyond. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:24] The hero’s journeyCOACH’S CORNER WITH KEVIN LYLES  [9:01] How to live your best life in retirementLISTENER QUESTIONS  [19:07] What a yield curve is and why it matters[20:42] Should I take my pension lump sum now or later?[26:35] Ron’s experience living overseas[29:56] Use the Social Security website to help optimize[31:07] Can I take outside IRAs and roll them into my 401K?[35:22] What should Doug do to help his spouse handle finances when he passes[37:51] Whether to take small pensions now or laterTODAY’S SMART SPRINT SEGMENT  [41:08] Choose your word for 2023Resources Mentioned In This Episode Joseph Campbell The Heroic AppRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Do you wonder what you’ll do with all your free time in retirement? Planning your time by filling your days with purpose and passion can help ease the stress that comes with the sudden emptiness of leaving behind a full-time career.  On this episode of Retirement Answer Man, we’ll discuss how dabbling in a few different activities can help you find your purpose. You’ll also hear the answers to questions posed by listeners like you. Coming soon to a podcast app near you: Retirement Plan Live!  Are you ready for the next Retirement Plan Live? Beginning January 4, we’ll return to our most awaited annual series. The next RPL will feature Rosie and Dwayne, a couple that retired with already constrained assets during a bear market. While helping Rosie create her feasible plan of record, I’ll also help her understand how to handle retirement in a bear market and what she can do next to help her through this challenge.  If this will be your first Retirement Plan Live series, or even if you are a veteran RPL listener, I encourage you to listen to the entire series and join us for the live webinar at the end of January so that you can get a true sense of how the agile retirement planning process works. Filling your suddenly empty itinerary in retirement can feel daunting  I recently had a conversation with someone who was considering holding off on retirement because they didn’t know what they would do without the routine of work in their lives.  We begin our social conditioning from the time we start school. School helps to begin to define the external structures of our lives by giving us a place to go, a reward system, a social network, and a vacation structure. This system continues as we enter our working years which makes it a challenge to suddenly leave this lifelong system and venture into the unknown. Try dabbling in something new  Since retirement completely blows up the structure and rhythm of life, it can be intimidating to step out into the unknown and venture forth without a plan.  Having a purpose in retirement can help you transition into something new. However, not everyone knows what their purpose will be.  Dabbling in a few areas can be one way to try out new interests. In the way that many kids dabble in various sports and artistic activities when they are young, we can do so as well as we approach retirement. By dabbling in a few different activities you can see what fits without becoming overly invested in one particular area. Should Suzy buy out her husband’s portion of their shared rental property?  Suzy has been going through a divorce for the past several years and is ready to finally financially settle. One of their shared assets is a $4 million property that could be used as a short-term or long-term rental. The property needs about $500,000 worth of work and it would require a $2 million loan to buy her husband out, so she is trying to decide whether it makes sense financially to take on such a mortgage at this stage in her life.  To ensure that Suzy makes the best decision she can, it is important for her to consider what she wants her life to be like in the future. There are multiple pathways we can take in life so it is important to envision your future before jumping into any permanent decisions. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:18] How to rock life outside the financial realm[11:03] What to do to set yourself up for some structureLISTENER QUESTIONS  [13:25] What to do with Suzy’s rental property in her divorce[20:24] How the widow’s Social Security works[22:13] If I delay Social Security will I get the COLA increase as well?[23:55] Should I stop contributing to my 401K?TODAY’S SMART SPRINT SEGMENT  [30:10] Dabble with somethingResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Are you curious about the changes that are coming next year on the Retirement Answer Man show? Today, you’ll have a sneak peek at one of our new segments: the Rock Life segment. Bobby Dubois joins me to discuss how to ensure that you have enough energy so that you can rock retirement.  On this episode, you’ll also hear my holiday gift-buying suggestions as well as the listener questions segment. Don’t miss out on hearing what to do with a settlement, whether to file for Social Security if you are still working, and whether you should simplify your investments in retirement.  Don’t miss this episode to hear the answers to these listener questions, get a preview of what’s to come next year, and to get some fantastic gift ideas. My holiday gift guide  Buying and receiving gifts later in life can be challenging since many of us already have so much. I prefer to give experiences over anything else, but when an experience isn’t appropriate a game is my go-to gift. These are some of the games that I enjoy playing or might make great gifts for someone you love Sequence - easy enough for the whole family to enjoy  Quix - a fast-paced dice game Euchre - a midwesterner’s favorite  Left Center Right - this can actually be played with dice or cards  Ticket to Ride - a longer board game that’s worth learning  Pictionary - great for parties  Scattergories - another classic party game  Kids Against Maturity - a twist on Cards Against Humanity that might be more appropriate for the family  Play Nine - when golf meets cards  Tri-Ominos - a triangular domino game Listen in to hear what our listeners recommend. One listener has a fantastic tip for learning new games. Should James apply for Social Security while still working full-time?  James is still working and approaching full retirement age. He would like to apply for Social Security but continue to work yet he is confused by the whole process. There isn’t much information about collecting Social Security while working full time.  An added complication is that signing up for Social Security will automatically enroll him in Medicare. However, he still has healthcare coverage through his employer and would like to continue his employer’s coverage.  James is right. There isn’t much information about collecting Social Security and enrolling in Medicare while still employed full-time. And what is out there is really confusing.  You can collect Social Security at full retirement age while still working. The financial ramifications may push you into a higher tax bracket. Boomer Benefits can help you navigate Medicare’s complexities  One aspect of choosing to collect Social Security at full retirement age is that it will automatically enroll you in Medicare part A. Parts B and D can be delayed, but they must be turned on within eight months of leaving your employer-sponsored health plan. The good news is that Medicare part A will coordinate with your health insurance if you end up hospitalized.  Since there are so many difficulties in navigating this question, I recommend that anyone in this situation contact a Medicare navigator like Boomer Benefits. Boomer Benefits is a company that deeply understands Medicare and the entire enrollment process. They don’t charge the consumer and aren’t trying to sell you anything–they are simply trusted advisors. They have numerous educational resources both on their website and on YouTube. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN GIFT BUYING GUIDE  [1:34] Roger’s holiday gift buying guideLISTENER QUESTIONS  [10:30] Should James file for Social Security if he is still working?[14:10] What to do with a settlement[23:10] Whether to simplify investments[29:20] If I just retired can I still make a Roth contribution?ROCK LIFE SEGMENT WITH DR. BOBBY DUBOIS  [30:37] The 3 pillars to building energy in our lives[34:32] Intentionally observe what works for youTODAY’S SMART SPRINT SEGMENT  [45:00] Go buy a game or experiment on yourselfResources Mentioned In This Episode Cozy Earth - enter RAM at checkout to receive a 35% discount!Boomer BenefitsBoomer Benefits on YouTubeWhoopOura RingStacking BenjaminsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Is it worth investing in individual stocks or should you simply go with ETFs? Joe has recently parted ways with his financial planner and is beginning to manage his portfolio himself and was wondering about the benefits of these choices.  Tanya Nichols and I will explore Joe’s questions as well as others on this episode of Retirement Answer Man. Listen in to hear the benefits of owning ETFs vs individual stocks, how to structure your Roth conversions, and what to do about health insurance before Medicare. Making decisions is rarely a cut-and-dry process  When making decisions, we usually look for a clear answer: yes or no, do it or don’t do it, jump or don’t jump. However, judgment calls are rarely so simple. Usually, we are operating without all of the pertinent information, so we have to make assumptions about how the future will look.  The process of brainstorming is messy. There is no crystal clear way to go about making decisions, and once you do you probably won’t know if you chose correctly.  When confronted with choices you’ll want to have a framework to explore decisions in an organized way. Then you’ll want to relax and consider all the options. When you take the pressure off you’ll have more opportunities to come to a good decision. Next, dive into the process and see what comes. You may explore several different scenarios before coming upon your final decision. What I’m reading  My strategy for reading this year has been to make reading my default activity. Reading is what I go to when I’m waiting in line, have spare time at home, or when I’m taking a walk (via audiobooks, of course!). This new mindset has led me to read 33 books so far this year. Today I wanted to share with you the most recent books I have read and my thoughts on them.  Boys in the Boat by Daniel James Brown is an inspiring book that I highly recommend. It chronicles a member of a crew team in the 1920s and 30s and his life journey from childhood and then on to the 1936 Olympics.  Quit was written by Annie Duke the author of Thinking in Bets. Annie was a professional poker player turned decision-making expert. In this volume, she examines how hard it is to quit something once you have started. Put Your Ass Where Your Heart Wants to Be by Steven Pressfield is a fast read–you could finish it in a day. This is a great book that helps people work on challenging goals. This book will help you get past the resistance.  Courage Is Calling by Ryan Holiday is a book that will enrich your soul.  It Takes What It Takes was written by Trevor Moawad who was a performance coach for elite athletes. This book on mental conditioning promotes the thesis that if you want to be great at something you have to make a choice to do the things to make you great. Making the choice to be exceptional clears the path to greatness because it takes everything else off the table.  The Dichotomy of Leadership by Jocko Willink was written for leaders on the aspects of finding the virtuous mean.  If you have any great book recommendations I’d be happy to hear them. Just head on over the Ask Roger page and leave an audio suggestion or write it in. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:23] On making decisions[4:11] What I’ve been readingLISTENER QUESTIONS WITH TANYA NICHOLS  [19:33] Should Joe invest in individual stocks or ETFs[27:36] What to put in Roth conversions[32:45] What should Todd do about insurance between the ages of 58 and Medicare?[42:22] Looking for resources on the ex-pat lifeTODAY’S SMART SPRINT SEGMENT  [44:38] Treat people as they could beResources Mentioned In This Episode Align FinancialBOOK - Boys in the Boat by Daniel James BrownBOOK - Quit by Annie DukeBOOK - Put Your Ass Where Your Heart Wants to Be by Steven PressfieldBOOK - Courage Is Calling by Ryan HolidayBOOK - It Takes What It Takes by Trevor MoawadBOOK - The Dichotomy of Leadership by Jocko WillinkPhil StutzRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center 

There comes a time when retirement planning becomes retirement doing. Many people get stuck in that gap between knowing vs. doing. While it is important to learn what you can so that you can make educated decisions, you’ll want to build a foundation to give you the confidence to act. My goal is not only to teach you information but also to help you build the structure you need to go out and rock retirement. On this episode, we’ll discuss how to close the knowing vs. doing gap, answer listener questions, and check out what Kevin has to say in the Coach’s Corner. Listen in to hear a clarification on Social Security and COLA, a new perspective on whether to purchase long-term care insurance and how to find a financial advisor who will simply answer questions. Stick around until the end to hear the Coach’s Corner segment with Kevin Lyles. David is still in the wealth accumulation phase  David sounds like a younger listener since he has young children. He’s still in the wealth accumulation stage of life and has a healthy $120,000 emergency fund. He is considering whether he should use that emergency fund to go ahead and pay off his mortgage. The extra money each month could then be used to purchase a rental property or to invest. Consider the big picture  Since David still has a long financial journey ahead, it is important to step away from focusing on the financial aspect of this picture for a moment and envision what he wants his life to look like. What is he trying to accomplish? Does he want more financial flexibility? Does he want more time with his young children? Any financial question should be framed with your goals in mind. You want your goals to shape the outcome of your decision rather than the other way around. How important is financial flexibility?  By dipping into the emergency fund he takes away the financial flexibility. Having an emergency fund in place limits the number of choices a person has. Another option could be to pay the mortgage off by adding a bit extra each month to the mortgage payment over time. Paying off the mortgage early will improve the monthly cash flow, but at what cost? David needs to assess how he will pay off the mortgage and whether that increased cash flow is important enough to justify the decreased financial flexibility. Once David pays off the mortgage, then he can decide whether rentals or traditional investments would be the best option based on the financial goals he has for the future. Framing these choices within the context of the bigger picture is so important when making these types of decisions. Ask your own question  If you would like to have your questions answered go on over to the Ask Roger tab on RogerWhitney.com where you can either submit a written question or an audio question. We love to play audio questions on the show, so if you would like your question answered sooner press record to submit. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [5:38] Be wary of suspicious text messages and emailsLISTENER QUESTIONS  [7:34] Should David pay off his mortgage?[15:00] How does Social Security COLA work?[19:52] Beth’s perspective on long-term care insurance[23:31] How to find a financial advisor who will simply answer questionsCOACH’S CORNER  [26:22] On categorizing retirement plansTODAY’S SMART SPRINT SEGMENT  [33:50] Set a benchmark for things you want to accomplish in 2023Resources Mentioned In This Episode NAPFA.orgEpisode 444 - Will My Social Security Benefit Be Impacted By My Divorce? CozyEarth.com - use the code RAM to get 35% off!Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Curiosity is an important quality to nurture as you get older; it can even help you find your purpose in retirement. Today, I’ll help you explore how to use your curiosity to discover your purpose as you embark on the next phase of your life.  This episode is packed with questions that could help you rock retirement. Listen in to learn how to know if an annuity is right for you in retirement, how to apply for social security, whether you can contribute to a Roth IRA if you are an independent contractor, how to choose healthcare alternatives before Medicare, and 401K alternatives for the highly compensated employee. Curiosity can help lead you to your purpose in retirement  Finding your purpose in retirement can be one of the most daunting tasks that you undertake in your retirement planning. Going from a career and a life that is essentially planned out for you to one that is completely open-ended can even bring on a bit of anxiety. However, if you let it, your purpose will come to you. It simply takes a bit of curiosity. Pulling on the threads of curiosity will lead you down the rabbit hole to the crux of what is essential to you. Listen in to hear how you can use your curiosity to ignite your passions. There is no way to completely remove the uncertainty of retirement  Annuities are guaranteed income sources that can remove some of the uncertainty that comes with retirement planning. However, they are not without their downfalls.  Using an annuity as a guaranteed income source early on in retirement will help to smooth out sequence of return risk, but it will enhance your inflation risk later on. Buying an annuity to turn on later in life will help with longevity protection, but what if you don’t need it?  There is no way to completely remove the uncertainty that comes with retirement–there will always be the element of the unknown. How to know if an annuity is right for you in retirement  There are two ways to consider an annuity to help fund retirement: qualitative or quantitative. On the quantitative side, it is easy to use calculators like the Schwab Annuity Calculator. While this can help you predict the math, it is important to remember that the best way to maximize guaranteed inflation-proof income is to fully delay claiming Social Security. To ensure that you are making a decision that is right for you, you’ll want to build a feasible, resilient plan of record that does not include an annuity. Then build out a what-if scenario and compare the two plans side by side. This will give you the context to make the judgment call. Although you will never have a crystal clear answer, this is the best way to work through this kind of question. By using an organized process, you’ll understand what it takes to build a base great life and have the confidence to spend your money and rock retirement. Consider when to turn on the annuity  Next, comes the question of when you want to turn on the annuity. Will you want it today or later in life? Giving yourself optionality is important. As you age your priorities will change. It is important to do the research. First consider the quantitative aspects by using calculators and considering the rules, then consider the qualitative side of this decision. Then consider how much you want to go with a safety-first approach. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [6:10] How to know if an annuity is right for you in retirement[13:50] How to apply for social security[14:55] Can you contribute to a Roth IRA if you are an independent contractor?[16:17] A backdoor Roth contribution clarification[18:11] Healthcare before Medicare[23:15] 401K alternatives for the highly compensated employeeTODAY’S SMART SPRINT SEGMENT  [26:37] Pull the thread and follow your curiosityResources Mentioned In This Episode SSA.govSchwab Annuity CalculatorRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

The good life is a direction, not a destination. This is why we are so focused on the process of retirement planning. Rocking retirement is all about having an adaptable process to work through.  On this episode of Retirement Answer Man, I answer a few process-based questions. You’ll learn how to work through the steps to rebalance a bond ladder and how to analyze whether you have enough to create a sound retirement. How retirement planning is like meditation  Retirement planning has a lot in common with meditation. With meditation, the idea is to sit quietly and focus on one particular mantra or the breath. While this seems like an easy thing to do, the mind constantly wanders to other places, so the meditator has to bring the mind back to the primary focus.  Just like with meditation, retirement planning has its own primary focus. The focus of process-based retirement planning is your goals. When you get distracted by the latest problem that you heard on the news, poor market returns, or whichever new, shiny thing comes along it is important to bring your attention back to the plan. We all want to optimize our retirement to achieve the best possible outcome, but we must first see how it all fits within our process. What is a bond ladder?  A bond ladder is a great way to prefund consumption over the years. It is created by purchasing a bond portfolio with individual bonds that come to maturity over a period of time. There may be bonds that mature each year over several years. This creates an income floor in a type of stair-step fashion. As each bond comes due then you build out the next step of the bond ladder. How to rebalance a bond ladder  As each bond in the ladder comes due you may wonder how and when to reallocate your portfolio. The bond portion of the portfolio is there to help you weather poor markets, so should you sell stocks while they are down to build your bond ladder back up? That kind of defeats the point of building up the bond safety net. Creating an income floor with a bond ladder ensures that you have time to allow your stock portfolio to be successful. There are several ways that you can make this happen.  You can moderate your spending so that you lengthen the time period of the bond ladder so that it burns down more slowly or you can choose to only partly replenish it.  There is no right or wrong way to work through this. By using a process-based strategy you can create several scenarios to navigate the situation. The benefit of having a structured process is that you can test it to see what works best for you.  Think about your own retirement planning process. Do you return back to it when faced with a question or problem? Consider how you can use your planning process to help you reframe questions. You may find that answering those questions gets easier when you use your process. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [6:33] How bond ladders work[12:29] Should Rich live on dividends and interest or sell?[14:17] How to systematically analyze variables[18:40] Is there a specific set of tests to determine whether a retirement plan is sound?TODAY’S SMART SPRINT SEGMENT  [23:46] What is your mantra?Resources Mentioned In This Episode New Retirement PlanningCozy Earth use code RAM to get 35% off anything on the site!Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

When planning your retirement journey it is imperative that you fully explore and understand the options available. On this episode of Retirement Answer Man, Shane asks about the best ways to access his retirement accounts early. Taylor Schulte from Define Financial joins me in the listener questions segment to discuss Shane’s question by clarifying the rule of 55 and 72(t), the ups and downs of using his fiduciary to prepare Jay’s taxes, and how to fund the first 5 years of retirement. Don’t miss out on the answers to questions from listeners like you. Tune in to hear if Taylor’s response matches my own. Accept where you are now  “We must be willing to give up the life that we planned so as to have the life that is waiting for us.”--Joseph Campbell It is easy to look back with wonder at the plans you had for your life. Even if everything is going well, we’ve all had life plans that were interrupted by curveballs. While those curveballs can throw us off course, it’s important to understand and acknowledge where we are now. Rather than ignoring or avoiding your present situation, accept your situation the way it is.  Radical acceptance is fully accepting things as they are now. Only when you fully accept what your current reality is can you look forward to creating a fantastic life ahead. Recognize where you are starting from so that you can plan to rock retirement. What is the rule of 55?  Shane is currently planning to work until age 55. He would like to use the rule of 55 to access his 401K. The rule of 55 is an IRS provision that allows workers who leave their current job to start taking penalty-free distributions from their current employer's retirement plan upon reaching age 55.  Note that the rule of 55 does not apply to IRA accounts. It is only to be used for 401Ks. So if you think you may want to use the rule of 55, then you’ll want to make sure that you don’t roll this account over to a Roth IRA.  Although this provision seems cut and dry, there are a couple of things to look out for. First, you’ll want to be clear about whether your employer will allow you to use the rule of 55 for your 401K.  Next, you’ll need to see whether the employer will allow you to withdraw the funds on a partial basis so that you don’t have to entirely deplete the account. Lastly, you should note that the current tax filing rate for the rule of 55 is at 20%. The ins and outs of using 72(t) for qualified accounts  Shane’s backup plan in case he gets laid off is to use 72(t). Similar to the rule of 55, 72(t) allows workers to gain early access to their 401K or 403B without penalty. Typically 401K contributors cannot access their retirement savings before age 59.5 without penalty. However, the rule of 72(t) allows for 5 equally periodic penalty-free payments. These payments must be made according to the schedule laid out by the IRS. It is essential that the account holder not add or withdraw anything more during this time period.  Using the 72(t) rule is tricky and it is critical that you carefully abide by the IRS’s rules. Listen in to hear a tip on what you could do if you only want to access part of the funds in your 401K using rule 72(t). OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:01] On radical acceptance in retirement planningLISTENER QUESTIONS WITH TAYLOR SCHULTE  [6:40] What should I know before using 72T to fund retirement?[13:25] Jay wonders if there are pitfalls to having his family office fiduciary prepare his taxes[23:49] How to fund the first 5 years of retirement[30:18] Belinda’s question on whether to keep term life insurance in retirementTODAY’S SMART SPRINT SEGMENT  [37:42] Radically accept one aspect of where you are nowResources Mentioned In This Episode Taylor Schulte - Define FinancialTaylor Schulte’s Stay Wealthy podcastRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center 

If the bear market and inflation may have you worried, a bit of productive paranoia with a tinge of optimism may see you through. On this episode of Retirement Answer Man, we’ll discuss upcoming monthly themes, the next Retirement Plan Live case study, and ideas for new segments for the show. You’ll also hear answers to several listener questions. Today we’re putting our geek hats on to discuss commodity ETFs, perpetual withdrawal rates, single-pay annuities, and how to mix compounding with growth. Press play to get started. What is a commodity?  During this bear market, people are becoming curious about different types of investments. Keith would like to know more about investing in commodity ETFs that follow the indices as a way to hedge against inflation. His big question is, should he invest in commodity ETFs to fight inflation? Before we can answer that question, we need to define what commodities are.  A commodity is a hard good with economic value that is used to create products. Commodities are a capital gain type of investment that don’t produce any dividends and therefore don’t have a compounding effect.  One of the attractions of commodities is that they aren’t correlated with other types of assets. Since interest rates and inflation are rising, commodities have become more appealing. They have the added benefit of not behaving in the way that stocks behave. How to invest in commodities  There are a few ways that people can invest in commodities. They can buy the commodity directly and hold on to it. However, this creates the issue of how to store it.  Another way to invest in commodities is to buy shares in companies that manage commodities. One example is Exxon, but since Exxon is an equity as well, that means that shares of Exxon are not pure commodities.  To get more purity, people look for ways to follow the commodities’ indices. Since we can’t actually buy an index, we could buy an ETF that replicates the index to gain exposure in that market. Popular ETFs use financial instruments like futures contracts and swaps to simulate ownership Do commodities have a place in a retirement portfolio?  While I’m not opposed to having commodities as a part of a diversified portfolio, it is important to first ask yourself a few questions. Which vehicle will you use? Which commodities will you track? Make sure that you don’t just choose one. You’ll want to ensure that you have a basket of commodities even though it will add a bit more complexity.  How much do you plan to allocate? What is the right percentage? You’ll want to purchase enough so that it makes a dent in your portfolio, but it is important to recognize that commodities are volatile compared to other asset classes. Commodities can move drastically in one direction or another based on many factors. Allocating 5-10% in a growth-oriented portfolio might work, but will it really make a difference?  Understand that adding commodities to your portfolio is a long-term decision. If you do add them then stick to your decision. If you don’t, then you negate the idea of asset allocation.  It is important to find a process that is right for you and stick to it consistently. Adding commodities into your portfolio can be a useful hedge against inflation, as long as they are used as part of your long-term investment process. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [4:40] Should I invest in commodity ETFs to fight inflation?[16:06] Can using a perpetual withdrawal rate increase portfolio security?[21:57] Would a single-pay annuity help David’s situation?[29:20] Barry’s suggestion for a monthlong theme[30:03] Ryan’s correction on NUAs[30:30] Jim’s question on compounding and growthTODAY’S SMART SPRINT SEGMENT  [37:15] Grab the checklist from the 6-Shot Saturday newsletter and take actionResources Mentioned In This Episode  Cozy Earth - Enter RAM as a discount code to receive 35% offBOOK - Good to Great by Jim CollinsBOOK - Antifragile by Nassim Nicholas TalebRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center 

If you don’t qualify for a Roth IRA you may be interested in using a backdoor Roth to utilize the advantages of a Roth IRA. One listener wonders about the rules for contributing to a backdoor Roth. Today, I’ll clear up his question and answer many more.  Other listener questions in this episode cover using RMDs as QCDs, dealing with capital gains, and target date funds. Don’t miss out on discovering the answers to questions from listeners like you. Press play now to listen. Should we be optimists or pessimists right now?  Optimism can only get you so far. I tend to be an optimistic person, but that doesn’t mean that I put on rose-colored glasses. I can see that the present situation calls for something more than simply blind optimism. However, that doesn’t mean that we should reverse our stance and become pessimists. Pessimism is the tendency to see the worst aspect of things or believe that the worst will happen. It calls for a lack of hope or confidence in the future. This isn’t what we should strive for at all. So how should we view things instead? “Rather than practice pessimism, perhaps we should practice productive paranoia.” - Jim Collins  How about a dose of productive paranoia? Jim Collins, author of Good to Great, helps us understand productive paranoia by explaining that the only mistakes you can learn from are the ones you can survive. Since conditions can change rapidly it is important to build in margins of safety so that you can handle disruptions from a position of strength. This will help ensure that you can mitigate damages or take advantage of opportunities. Use your angst to build structures to help you weather the storms that the market throws at you. Learn more about the Rock Retirement Club at our live meetup  Join our live meetup tomorrow, 10/27, or 10/29 to hear how you can handle market disruptions from a position of strength by ensuring that you have an agile retirement plan in place. In the meetup, we’ll lay out how you can work through the process to develop your own agile retirement plan. We’ll also showcase the Rock Retirement Club so that you can gain a better understanding of what the Club is all about. Can backdoor Roth contributions be made throughout the year?  Scott doesn’t quite qualify for a Roth IRA, so he has been looking into a backdoor Roth. His question is if he can make backdoor Roth contributions throughout the year or if he can only do them once during the year. Yes, you can make contributions throughout the year; however, there may be a reason that you want to set that money aside and wait until the end of the year to make your contribution. Listen in to hear why. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [5:30] Can backdoor Roth contributions be made throughout the year? [9:53] Can Dennis use RMDs as QCDs?[15:03] How to deal with capital gains[23:15] Should Marie switch from target date funds to separate funds?[28:08] Do you factor in the cost of Roth conversionsTODAY’S SMART SPRINT SEGMENT  [37:43] Do something that intimidates youResources Mentioned In This Episode BOOK - Good to Great by Jim CollinsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

The latest news in retirement is that Social Security recipients are getting a raise in 2023. While that is helpful for everyone receiving their benefits, what about those who choose to delay taking Social Security? A couple of listeners have been wondering if they, too, will get inflation adjustments if they wait to file for Social Security. We’ll have the answer to that question and many others as well as feedback from recent episodes. If you have been on the fence about whether or not you should delay Social Security, you won’t want to miss out on this episode. It’s hard to be optimistic when you are in the middle of a storm  We can all be optimists on a sunny day, but what do we do when we’re in the middle of a storm? It seems we are in the middle of a storm right now. Market downturns, high-interest rates, and high inflation make it difficult to be optimistic about the economic times ahead. Things could get better, or worse, or they could stay the same for a while. Although there is no way for us to know when the economy will get better, there are things we can do to improve our situation. Focus on the micro instead of the macro  In a storm, it is important to stay calm, step back, and consider what to do next. You may have the impulse to do many things at once to do all that you can to try and survive the situation, but you’ll spread yourself too thin. Instead, it is important to focus on the micro rather than the big picture.  Don’t worry so much about optimizing interest rates and whatnot. Alternatively, identify where you have the agency to make incremental changes so that you can weather whatever the storm may bring. Consider your next baby step to creating the life that you want to live. How will you cover your expenses? You may come out a bit battered and bruised, but if you make compromises, you’ll be able to use your agency to navigate the storm so that you can rock retirement in any weather. Will you still get COLA if you wait to file Social Security?  Social Security recipients are in for a big raise again next year, so if you are planning to delay taking it, you may be wondering if you’ll eventually get that raise too. Karen is one listener that has that same question.  The answer is yes, for the most part. COLA (cost of living adjustments) are included in your future Social Security payouts. There is only one group of individuals that won’t see a COLA adjustment. Listen in to hear who they are and how COLA works in Social Security. Don’t forget to register for the upcoming webinar on October 27 and 29 where I will share the retirement plan structure I use with my clients. This simple structure will help you gain confidence in your retirement plan so that you can rock retirement. Register at LiveWithRoger.com. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:21] What to do to weather a stormLISTENER QUESTIONS  [9:17] 2 Questions on Social Security and inflation[14:01] The best use of a universal life insurance policy[18:14] Should Bill go with a smaller investment vehicle in retirement?[24:25] Retirement Plan Live case study[26:57] Feedback on how to meet people in retirementTODAY’S SMART SPRINT SEGMENT  [34:00] Set a meeting with yourself or your partner to review your planResources Mentioned In This Episode Retirement Plan Live case studies MeetUp.comLong-term care series episode 311, 312, 313, 314Hugh Calc retirement calculatorValueYourPension.com retirement calculatorRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

If you are getting close to retirement you have probably been watching the financial news to help you stay up to date with what is going on in the world. If so, you won’t want to miss out on hearing why this is not a good idea.  Today, I’ll also answer questions about bonds, charitable gifting, and how to find a financial advisor. Make sure to stick around until the end to hear about upcoming changes to Medicare with, Medicare expert, Danielle Roberts from Boomer Benefits. Keeping up with the news won't help you navigate your way through retirement  Have you read the news lately? It’s not pretty out there. Inflation, bear markets, rising interest rates, political craziness, a poor economy: it’s non-stop fear peddled 24-7. Staying up with the news will not help you navigate your retirement journey. Trying to stay on top of the news will only bring you more stress and worry. You're not going to weather this bear market by keeping up with the headlines. Instead, you’ll navigate it by getting to the bottom of things, relaxing, using a process, and making a judgment call. If you are interested in the process that we teach, join one of our live meetups on October 27 or 29. Register at LiveWithRoger.com Should I switch my bond portfolio to CDs?  When choosing which type of investments to own it is crucial to use a process and consider what the money will be used for. You’ll need to ensure that you have an emergency fund and 5 years of prefunded consumption before building your long-term income floor. You can prefund your first 5 years of consumption with individual assets that mature when you need them by using CDs, treasury bills, Treasury Inflation-Protected Security (TIPS), MYA-guaranteed annuities, or individual bonds. Build this income floor by creating an income ladder that matures at the time you will need to use it. The current market is a good example of why you wouldn’t want to use stocks and bond funds for these first 5 years of cash on hand.  Beyond the first 5 years, you’ll build a portfolio that contains a mix of stocks and bonds. At this point, rather than buying individual bonds you may want to purchase ETFs and managed index bonds. This way, as interest rates rise, the funds get reinvested back into your portfolio.  By ensuring that you won’t need these funds for 5+ years, you don’t have to worry about the markets or rising interest rates. Look out for these upcoming changes to Medicare  Medicare’s annual open enrollment period is coming up soon, so Danielle Roberts joins me to discuss the real and potential changes coming to this essential benefit. Listen in to learn about the crucial difference between the annual open enrollment period and the one-time-only initial enrollment period that occurs when you turn 65.  You’ll also hear about how recent legislation will change drug coverage for many common drugs. Danielle offers a wealth of information, so you won’t want to miss out on her expertise. Stick around until the end to hear her take on what is happening in Medicare news. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:11] Staying on top of the news will only bring you more stress and worryLISTENER QUESTIONS  [7:23] Should I switch my bond portfolio to CDs?[12:07] What to use for your middle bucket[13:48] On using charitable gift annuities in retirement planning[17:27] How to find a financial advisor to help plan retirement[21:44] Should taxable and tax-free assets be weighted differently on a net worth statement?MEDICARE NEWS WITH DANIELLE ROBERTS FROM BOOMER BENEFITS  [24:53] Changes to Medicare to look out for[37:30] What to look out for in your mailbox[45:35] Potential changes upcoming in 2023TODAY’S SMART SPRINT SEGMENT  [47:20] Stop trying to stay on top of thingsResources Mentioned In This Episode LiveWithRoger.com - Make sure to secure your spot for the live event on October 27 or 29!Boomer BenefitsRetireAgile.comNAPFA.org can help you find a fee-only, fiduciary financial advisorRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

RMD tables, bond classes, international exposure, and 1099s–we’ve got answers to your questions. First up is which account is best to begin drawing from in retirement. Listen to these answers to listener questions and take some time to reflect with me about how too much data can inhibit our ability to make good decisions. Press play to listen. Too much data can hinder your decision-making process  There comes a point where more information doesn’t help you make decisions, it can actually hurt your decision-making. A new low in this bear market recently passed taking it down 22.4% for the year. Rather than dwelling on this fact by looking up news articles, try changing your perspective. Use the data to flip the narrative. Instead of focusing on the current downward trajectory focus on the 10 years of growth that we had beforehand. When you have a feasible, resilient plan in place you won’t need to worry about this bear market. Are you curious about the Rock Retirement Club?  Have you heard me talk about the Rock Retirement Club in previous episodes but still aren’t sure exactly what it is? The RRC is a group of just under 1000 members from all over the country all within 10 years of retirement. Our focus is on how to live your best life as you make the transition into retirement. We do that with a masterclass that helps you create an agile retirement plan. This isn’t simply a class where you watch videos and take a quiz at the end. This structured masterclass walks you step by step as you build your own agile retirement plan. Once you create your plan, then, you’ll learn how to make it resilient by testing it against common risk factors. Next, you’ll optimize and enhance your plan. In addition to the master class and the camaraderie of the group, you’ll also get the experience of our team of coaches who will coach you through the financial and non-financial aspects of retirement.  Our goal is to give you the tools to create the ideal retirement plan for you and lifelines to reach out to when you need help. If you would like to learn more about the Rock Retirement Club sign up for our live meetups on October 27 or 29 at LiveWithRoger.com. Which account should I begin drawing from first in retirement?  One of the classic optimization questions is which account to draw from first. Many are often drawn to the after-tax assets first, but if you take all these away, you will only be left with tax-deferred assets. These are subject to RMDs once you turn 72, so you could be left with a situation where you have to take more out than you need. Consider taking advantage of lower tax brackets now to pay today’s low tax rate.  Listen in to hear the answer to this retirement question and many others. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:56] More data can cause you to distort your view[6:34] What is the Rock Retirement Club?LISTENER QUESTIONS  [12:42] Which account should I begin drawing from first in retirement?[16:46] What are the actual percentages of RMDs taken each year[20:10] Comments on my recent comments on international exposure[21:59] What to consider as a 1099 contractor[26:10] What is the best bond asset class to buy?[28:44] How to take advantage of NUA?[35:49] Do you need a personal financial advisor? TODAY’S SMART SPRINT SEGMENT  [39:25] Gain some perspectiveResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Many people choose to save money for their kids and grandkids in a 529 account, but one listener wonders if there is a better way to give. Learn the answer to this question and more on this episode of the Retirement Answer Man show.  Make sure to stick around until the end to hear the Coach’s Corner segment with Kevin Lyles. Kevin and I discuss growth and accepting challenges in retirement. Find out why it is so important to continue to challenge yourself in retirement. What is the best way to save money for the grandkids?  Like many people, Kathy saves money for her grandchildren in a 529 account, but she wonders if this is the best way to save for them. What if they choose not to go to college? Before analyzing the best way to save for the grandkids, consider how you should think through this issue. What are your goals in saving for the grandchildren?  What do you want to accomplish? Do you want them to graduate from college without debt? Do you want to help them get launched to give them a great start to adult life? Do you want to buy them their first car or help them put a down payment on their first house? Think about your ultimate purpose for giving. Various methods that can be used for giving  If you would like to ensure that the kids graduate without debt, then, the 529 is an excellent vehicle to accomplish this goal. It’s also important to note that by keeping the 529 in your name you can change the beneficiaries from one child to another.  Another way to save for the kids is by creating a separate account in your name that you earmark for a specific child in mind. Then later on if that child veers down a wrong path, you can choose not to support their bad decisions. This option also allows for you to have control and you ensure that you aren’t making decisions for them too early.  The Uniform Gift to Minors Act provides a way to transfer financial assets to a minor without establishing a formal trust. A UGMA account is managed by you until the minor comes of age, at which point they assume control of the account. At this point, you relinquish all control over the funds. If part of your goal is to help your kids while they raise their kids, then paying for private school or university directly is one way that you could do this. You can even pay directly for medical expenses as well. As long as you are paying the provider directly then you can give unlimited funds.  If your goal is to gift your assets as a part of estate planning, remember that you can give up to $16,000 to anyone you want each year. Before gifting anything, understanding your motivation for the gift is essential. Find purpose with action to propel yourself forward  Thinking about things is, oftentimes, an avoidance behavior. The only way we discover who we are or the things that we enjoy is by doing them.  “A sense of purpose doesn’t come from thinking about it. It comes from taking action that moves you towards the future. The moment you do this you activate a force more powerful than the desire to avoid the pain of loneliness or inactivity. We call this the force of forward motion.” Phil Stutz. Continue to challenge yourself physically, socially, and intellectually. By continually expanding you prevent rigid mindsets from setting in. Without challenge, the status quo sets in and while we may feel comfortable with our lives, before long we may discover that our lives will actually shrink without growth.  How will you challenge yourself in retirement? OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING  [1:10] Find purpose by doing thingsLISTENER QUESTIONS  [2:45] Giving to grandkids[10:44] Is there a list of the major retirement benchmarks?[15:00] Who does the RRC consist of?[17:22] Social Security claimingCOACH’S CORNER WITH KEVIN LYLES   [24:27] Try new things in retirement [31:55] Developing new routines can helpTODAY’S SMART SPRINT SEGMENT  [34:10] Do what needs to be done not what you feel like doingResources Mentioned In This Episode Rock Retirement ClubThe Retirement Manifesto blogRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Life is about events, the challenges we overcome or not, our successes and failures, but, even more, it’s about how we touch and are touched by the people we meet.  Nicole is back! She is here this week to help me answer your listener questions. In this episode, we discuss the challenges of making friends in retirement, the value of international diversification, contributing to a Roth 401K vs. a regular 401K, the 4% rule, and much more.  I created the Retirement Answer Man show to help you, not just with the business side of retirement, but also to help you build a successful life so that you can lean in and really rock retirement. This month we are answering your retirement questions. If you have a question to submit, head on over to RogerWhitney.com/AskRoger to proffer your questions. Remember, if you want to get bumped to the front of the line and use our fastpass option by recording an audio question. Check out these resources to learn more about inflation in retirement and the RRC  Have you been thinking about joining the Rock Retirement Club? If so, sign up for our updates so that you can be the first to learn about the next online open house. We’ll be opening enrollment at the end of October and plan to have a few open house opportunities between now and then. These open houses will be an informative way to for you to learn more about the club so that you can decide whether it is right for you.  Are you worried about inflation in retirement? If so, we have created a resource to help you navigate this worrisome hurdle. Check out DoRetirementRight.com to get this FREE information to help you think strategically about inflation in retirement. Trying to make friends as a single person in retirement can be a challenge  In many 55+ communities, it is pretty easy to make new friends. Everyone is a transplant from somewhere else and there are endless opportunities to join activities and clubs.  However, if you are single it may not be as easy as it is if you are married. Many retirement activities are geared toward couples so single people can have a harder time getting invitations.  Are you single in retirement? What strategies have you implemented to help you make friends? Reply to the 6-Shot Saturday newsletter with your suggestions. Why keep international equities?  Many people wonder what the point of keeping international equities in a portfolio is. It seems as though global equities fall at the time when we need them to be stable or growing, so why bother to include them in our portfolios? Traditionally, they do poorly as compared to other markets, yet including international equities is recommended as a part of having a diversified portfolio strategy.  I tend to recommend international equities, not for diversification, but for the fact that many fantastic companies aren’t based in the U.S. Think about Toyota, Mercedes, Glaxo, Novartis, and even Ikea. Rather than considering a different asset class to add to your portfolio, choose the best worldwide companies to expand your portfolio to include top-notch mid to large-cap international companies. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [5:23] On making friends[8:23] The value of international diversificationLISTENER QUESTIONS  [12:05] Should I contribute to my Roth 401K or just a 401K near retirement[16:12] Are investment advisor fees worth it?[26:00] Why haven’t I heard back from the IRS?[29:06] Where do my 401K profits go when inflation goes up?[32:33] How does the 4% rule apply to dividends?[35:22] Is 15% enough to save for retirement?[37:20] Why is there a disclaimer about indices at the end of the show?TODAY’S SMART SPRINT SEGMENT  [40:43] Be inclusive make an effort to reach out to new people you meetResources Mentioned In This Episode Rock Retirement ClubDoRetirementRight.comRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

We’re back again answering your retirement questions! On the docket for today are questions like whether should you consider taking on a mortgage in retirement, whether it’s feasible to hold only ESG investments in retirement, and if you need life insurance in retirement. In addition to answering these listener questions, I’ll also share several book suggestions that I got in response to the 6-Shot Saturday newsletter and reflect on insights I learned from my time in Colorado.  Don’t miss out on upping your retirement game. Press play to hear answers to questions from listeners like you! Dealing with inflation in retirement  Have you been worried about how you will deal with inflation in retirement? If so, you are not alone. That is why my team and I created an Inflation in Retirement Guide to help you understand and navigate inflation as you approach retirement. In this FREE guide, you’ll learn 6 tactics to consider and practical ways to help you think through the issues that rising inflation brings to retirement. 6 insights from my time in Salida, Colorado  My goal with the Retirement Answer Man show is to help you navigate not just the financial side of retirement, but also the life side. You need to have both sides in order to really rock retirement.  If you have listened to the show in the past you may know that my wife and I go to Salida, Colorado, and rent a house for about a month each summer. We love it up there which is why we purchased a lot there last year with the intention of building a home and eventually splitting our time or relocating in the future.  We just returned from our most recent trip, so I thought I would share a few insights that I gained from my time there.  Set yourself up to experience the things you enjoy. I realized that one of the reasons that I love Salida is that it sets us up to easily do the things we love to do. We love hiking and mountain biking and these activities are easily accessible as opposed to our home in Fort Worth where partaking in these activities requires more planning. In retirement, consider moving closer to the things you love to do. It’s easier to make friends in Salida. This smaller town has a slower pace and lacks the hustle and bustle of Fort Worth. People are more open to having conversations, so it is easier to make connections.Just do it! Just do the things you enjoy doing. Acting is better than (over)thinking. It is easy to think about doing things rather than acting upon them, but the only thing that will move you forward is actually doing the thing you want to do.It is harder to make decisions when your heart is involved. It is difficult to gain perspective on your own life. Oftentimes, your head goes along with what your heart wants. Listen in to hear how a recent decision backfired on me when I pulled the trigger and acted with my heart. Home is an important base to have. As much as we enjoy our yearly trips to Salida, a month in a rental never feels like home. Spend big on the important things and be ruthless about everything else. It is important to strike a balance in life, so make sure that your spending is aligned with what you care about. Should we take a mortgage to build our retirement dream house? This listener is careful with money and has been mortgage and debt free for over a decade. They are looking to build their dream home their “castle in the sky” and are considering whether they should take a mortgage out to build this home. The mortgage would only take 20% of their retirement pension. Is it worth it or should they pay cash for the home? What do you think? Listen in to hear my answer. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:30] Insights from my time in Colorado[12:38] Listener book suggestionsLISTENER QUESTIONS  [14:45] Mortgage in retirement[22:00] How challenging is it to control where your retirement investments come from?[32:03] On the necessity of life insurance in retirement[38:41] On credit in retirement[42:12] If relying on a dividend approach they need to be diverseTODAY’S SMART SPRINT SEGMENT  [45:54] Think about your affluence - are you protecting it? Resources Mentioned In This Episode DoRetirementRight.com - check out our FREE inflation guide to retirement!BOOK - Red Teaming by Bryce HoffmanBOOK - Building a Second Brain Tiago ForteBOOK - My Dear Hamilton by Stephanie DrayBOOK - Path Between the Seas by David McCulloughBOOK - All That Moves Us by Jay WellonsBOOK - Five Presidents by Clint HillBOOK - The Boys in the Boat by Daniel James BrownRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Are you nearing retirement and wondering how you should pay for large out-of-pocket expenses? Should you dip into your emergency fund, take from your retirement savings, or is there another way?  We’ll consider this question, hear how Larry is living intentionally, learn how visual aids can help when trying to discuss finances with elderly parents, and discuss dollar cost averaging a lump sum payment on this episode of Retirement Answer Man. All month we’ll be answering your questions. If you have a question that you would like to submit head on over to RogerWhitney.com/AskRoger and type in a question or use the record a question function to shorten the wait. We love audio questions so we bump those to the front of the line! Tune in to hear these listener questions plus a summary of what was on my summer reading list. Make sure that you are signed up for the 6-Shot Saturday newsletter to learn all the details about the books I read this summer. How to pay for big-ticket expenses as you approach retirement   One listener would like to know the best way to pay for large expenses as she approaches retirement. She has already retired from her career and is now working (for minimum wage) as a teacher’s aide while her husband still works. They live in a high-cost of living area, and while their home is paid for, it requires a bit to keep it up.  Digging into cash reserves for big-ticket expenses can be scary since it is a drain on the assets, so she would like to know if her husband should decrease his 401K contributions so that they can increase their cash flow.  This is a good time to ensure that you have enough cash reserves in your after-tax bucket. While you are in the middle of dealing with a large expense it can be challenging to look ahead. But while it is important to meet those immediate needs, it is also essential to plan ahead.  Take some time to map out your plans for the near future. How long does your husband plan to work? Do you plan to stay in your high-cost-of-living area? Do you plan to downsize? This way you can explore the options you have to discover how to get on a sustainable path for the future. Building a decision-making framework can empower you to improve your situation and your future.  How I approach reading  Before I share the books that I’ve been reading over the past couple of months, I wanted to share with you my approach to reading so that you can better understand my system and where I’m coming from. I try to make reading my default activity. Instead of looking at my phone or turning on the TV, if I have some extra time, I grab a book and read.The books I read vary based on my interest at the time, but I mostly read nonfiction books about business and retirement. I always have more than one book going on at a time. I generally have an audiobook and a few different physical books around the house. I learned a few years back that I don’t have to finish a book and that changed my life! Sometimes I don’t read a whole book, rather, I use certain books like reference books and pick and choose what I want to get out of them. I prefer physical books to ebooks. I also write, highlight, and underline in my books so that I can easily refer back to them. Books I’ve been reading Now that you understand how I use books and reading in my life you can check out my summer reading list. The Lost City of Z by David GrannHero of Two Worlds by Mike DuncanA Tale of Two Cities by Charles DickensOn the Shortness of Life by Lucius Annaeus SenecaThe Second Mountain by David Brooks  The How of Happiness by Sonja LyubomirskyOriginals by Adam GrantRed Teaming by Bryce G. HoffmanI’d love to hear any book recommendations that you have. You can simply reply to the 6-Shot Saturday newsletter to let me know what you have enjoyed reading this summer. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOK RECOMMENDATIONS  [3:30] How I approach reading[6:22] What I’ve been reading this summerLISTENER QUESTIONS  [14:32] On making your portfolio an all ETF IRA[20:21] How Larry is living intentionally in retirement[22:39] Dollar cost average or a lump sum[27:02] Using a visual aid to help elderly parents understand overspending[29:15] Large expenses approaching retirementTODAY’S SMART SPRINT SEGMENT  [33:54] Instead of taking big actions find tiny actions that you can do consistentlyResources Mentioned In This Episode Rock Retirement ClubThe Pie Cake episodeCal NewportBOOK - The Lost City of Z by David GrannBOOK - Hero of Two Worlds by Mike DuncanBOOK - A Tale of Two Cities by Charles DickensBOOK - On the S...

Michael Balchan from Heroic and I have been discussing how to live a heroic retirement for the last several episodes. Today, we wrap up this theme and learn to integrate the subjects we have discussed in the past 4 episodes into rocking retirement. As usual, after the main theme, I’ll answer your listener's questions. If you have a question that you would like answered on the show, now is a good time to ask since next month we’ll focus solely on answering your questions. You can submit your question at RogerWhitney.com/AskRoger. You have the option to either type in your question or leave an audio question. We love audio questions, so leaving an audio recording is like getting a fast pass to the front of the line. Rekindle your best self each morning  If you have ever been camping you understand the importance of building a campfire. This camping essential provides heat and a way to cook, however, each night you must turn it off when you go to sleep. In the morning, you rekindle the fire to warm yourself up and start the morning off right. This is just like living your best self. Each morning you must wake up and consciously rekindle your fire. By setting your intentions, you provide a way to set yourself up for success each day. Live each moment to create your best life  Since all we have is the now, each moment is an opportunity to live your best life. All you can do is show up one moment at a time to live life fully and completely. Looking back on your life you’ll see a bunch of separate great and not-so-great moments strung together to create a life.  If you are prepared to show up one moment at a time and live fully and completely you’ll find that those movements create an amazing life. Rocking retirement is about living heroically while mastering your finances  Here on this show, in my book, Rock Retirement, and the Rock Retirement Club, we talk about rocking retirement all the time. So it’s important to understand what I mean by rocking retirement. Rocking retirement is integrating the business of retirement with the act of living a heroic life.  The business side of retirement means getting the financial side of retirement correct. With agile retirement management, you’ll adjust your financial plan in a series of little changes so that you can have the confidence to weather the storms that life throws at you By living a heroic retirement, you’ll create an amazing life for yourself each day by showing up and consciously choosing to become a better person. The RRC can help you live a heroic retirement  The Rock Retirement Club helps people with both sides of their retirement journey. Marrying the two together is how to really rock retirement.  The Rock Retirement Club is a safe place both online and in person to take the baby steps to set you on your way to rocking retirement. In the club, you’ll receive a world-class education from financial and retirement experts while walking this journey with other like-minded individuals who are traveling the same path.  Our next enrollment for the RRC is at the end of October, so be on the lookout if you have been considering joining the club. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [4:38] It can be easy to beat yourself up for being human[9:52] How living your best self has to do with rocking retirementLISTENER QUESTIONS  [12:12] Does Social Security count 401K withdrawals as income[14:58] Single retirees are often struggling alone[16:30] Should we charge for the podcast?[17:37] Does it make sense to sell higher fee funds and reinvest in lower fee funds?[24:00] On balancing the portfolio in today’s marketCOACH’S CORNER WITH KEVIN LYLES  [30:45] Finding Kevin’s retirement identityTODAY’S SMART SPRINT SEGMENT  [36:00] Discover a morning ritualResources Mentioned In This Episode BOOK - Atomic Habits by James ClearEpisodes on retiring single: 210, 219, 220, 221, 222Heroic appRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center 

“You are who you are here and now” – Bruce Lee We all live life with the best intentions, yet rocking retirement is all about what we are actually doing–not intending to do. Do the things that you say are important to you now. In this episode of the Living a Heroic Retirement series, you’ll learn how you can begin to live a heroic life today. Michael Balchan and I break down what we are doing to live our best lives. We bring the macro level that we have been discussing in the past few episodes down to the micro level. Press play to learn how to embody your virtues by taking baby steps towards your goals. Life is like a game  When you are young, you going to school is like a game where you get motivation and rewards for doing well. You get to level up each year and then move on to the next stage. Work is also like a game. There are boundaries, a scorecard, and of course, more leveling up.  In retirement, you have a clean slate, but since we are already so gamified you might as well continue playing. The difference is, that now you get to decide the rules of the game you are playing. Take the game and personalize it to your own needs. How to play the game  Your virtues are how you want to play the game. Once you decide which virtues ring true to yourself then you can set targets that align with those virtues. Set 3 targets that you can do today to make sure that you are living a life that aligns with your virtues. These targets are a way to make commitments to the behaviors that you want to act upon.  When you set your intention your attention follows.  Remember that this is your own game so set yourself up for success. Listen in to hear how Michael and Roger play their games differently using the Heroic app. Why celebration is important  It is important to celebrate your wins, but many of us have a hard time doing so. Celebrating your wins can feel inauthentic, or manufactured. However, celebrating acting on your virtues use positive reinforcement for your brain. Positive reinforcement creates a reward system for your brain to help you rewire and create positive habits. By celebrating your wins you create an internal sense of joy and satisfaction and therefore become more likely to make positive decisions OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [4:03] In retirement, you get to decide the rules of the game you are playing[8:50] Set targets[18:24] Be excited about showing up in the next moment [19:52] Why is it so important to celebrate the wins?[29:38] The heroic app gamifies living out your virtuesLISTENER QUESTIONS  [36:09] Bart’s inherited IRA question[38:48] David’s question on the pie cake[47:38] Adam’s simple question[49:51] How to fund a hybrid long-term care insurance policyTODAY’S SMART SPRINT SEGMENT  [53:33] Set one target that supports living your best selfResources Mentioned In This Episode The Heroic appBOOK - 12 Rules for Life by Jordan PetersonBOOK - Beyond Order by Jordan PetersonBOOK - Top 5 Regrets of the Dying by Bronnie WareBOOK - An Audience of One by Robin DellaboughThe Long-Term Care series - Episodes 311, 312, 313, 314Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

“What one can be, one must be.”--Abraham Maslow Do you know who you want to be in retirement? Here at the Retirement Answer Man, we want to give you the confidence to not just survive retirement but to rock retirement. To truly rock retirement you need to have both a financial and non-financial plan.  Over in the Rock Retirement Club, we have licensed Michael Balchan’s Heroic app and in these past few episodes, we have been discussing how to live a heroic retirement. Today we’ll discuss the 3 domains that are important to develop aspirational identities. You’ll learn why this is important and how to create your own aspirational identities in these 3 areas.  Make sure you are signed up to 6-Shot Saturday so that you can get the free workbook to help you develop your identity in these 3 domains. Break big things down into smaller chunks  How do you run a marathon? One step at a time. By breaking down big things into smaller chunks you can string them together and keep them in motion.  It’s okay if you don’t know what you are going to do with your entire life. The goal isn’t to have one giant all-encompassing purpose that you strive towards forever. Instead, aim for Ikigai. Ikigai is the current goal, meaning, or purpose that you are working towards right now. Identity drives behavior  Most people think that sour feelings drive our behaviors but this isn’t true. Our identity drives our behaviors which then drive our feelings. Our identities are linked to what we do and who we are is what we repeatedly do. Every behavior we display and action we complete is casting a vote for the person that we want to be.  Think about who you are when you are at your best. You can draw from previous experience or visualize the person that you want to be. That exemplar self is who you are striving to be. The 3 identity domains  Our identities are so often linked to what we do for a living so when we retire its like we lose a part of our identity. Now that you are no longer the VP of sales, the corporate attorney, or the head of HR, who are you? You have a blank slate to work from and the ability to reinvent yourself in retirement. Breaking identity down into 3 domains helps you understand how the different parts of your life intertwine.  Energy is the foundation of everything. Work doesn’t have to mean a traditional career. It can mean your avocation, activities, or hobbies.Love means how you show up relationally with your partner, family, friends, or even acquaintances. When choosing your new identity, it doesn’t have to be set in stone. Pick something that means something and is important to you. If it works well, then that’s great. If not, switch it up. Playing around with your new identity will help you consider how you want to live up to your best self. Listen in to hear how I identify with each of these three identity domains. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:25] the 3 identity domains[6:45] Ikigai - what is the current thing you are working towards?[14:34] Be willing to break big things into smaller chunks[18:56] Identities drive behaviors that drive feelings[30:14] Your work identityLISTENER QUESTIONS  [41:00] Should Randy sell his home to enjoy the go-go years?[49:09] Steve’s suggestions[51:46] How to help Cheryl’s parents[56:58] Santiago’s Social Security questionTODAY’S SMART SPRINT SEGMENT  [1:00:32] What can you be at your very best in energy, work, and love?Resources Mentioned In This Episode Boomer BenefitsHeroicBOOK - The Happiness Equation by Neil PasrichaBOOK - Ikigai by Hector GarciaBOOK - Atomic Habits James ClearBOOK - Hero’s Journey by Joseph CampbellTony RobbinsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

This month on the Retirement Answer Man we are learning how to live a heroic retirement. Michael Balchan joins me to discuss what it takes to be the hero of your own story. On this episode, we explore the virtues that heroes embody.  If you are looking to be an exemplar then you’ll exhibit some core universal virtues plus some that are uniquely your own. Learn about these virtues and what it takes to be a hero on this episode of Retirement Answer Man. Keep striving toward your ideal self  Hercules is a typical hero. We often think of him as being a hero because he was strong, but it was because he put himself on the line and faced mythical beasts to help others.  Before you can help others you must know yourself and what you are capable of. Striving to be your best self is a heroic act. Self-actualization–expressing the best version of yourself–is impossible yet continually working towards self-actualization will make you a better person. Striving toward your ideal self is an asymptotic act, like the curved line in mathematics that gets closer and closer to another line without ever touching. You may get closer and closer to your ideal but never actually realize it. You may continually advance on your best self but you’ll never actually reach your highest form. What is important to recognize is that even though you will never reach your ideal, it is important to keep striving. 4 Universal virtues  Every ancient tradition recognized 4 universal virtues Wisdom is knowing the game you are playing and playing it well.Self-mastery is having the discipline, temperance, and structures in place so that you can pause before responding. Courage comes from the heart and allows you to take action in the place of fear.Love means being present, connected, genuine, and encouraging.Put your virtues into action Rather than seeing yourself as falling short of your ideal self, if you keep doing the hard work involved in self-improvement you will continually improve yourself. Instead of judging yourself based on a past or future outcome, study your process. Are you striving to do your best at this moment? If you didn’t make the right choice, try to do so next time. Keep going and do what needs to be done. Our ideals are like a guiding light rather than a distant shore.You won’t want to miss this episode to hear the rest of the virtues of positive psychology. Listen in to learn how you can apply the virtues and actions test to your heroic retirement quest. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:11] You will never achieve self-actualization[13:53] The 4 ancient virtues[21:12] The 5 virtues of positive psychology[27:52] Personal virtuesLISTENER QUESTIONS  [32:33] A bucketing question[35:30] A cash value insurance question[39:41] Optionality is undervalued[42:50] A Social Security survivorship benefit question[46:00] How to protect your legacy from financial abuse[51:40] Thoughts on Connie’s question from episode 434TODAY’S SMART SPRINT SEGMENT  [54:24] Be aware of the moment between stimulus and responseResources Mentioned In This Episode Michael BalchanNew Retirement calculatorTal Ben ShaharBOOK - Mindset by Carol DweckBOOK - Rethinking Positive Thinking by Gabriele OettingenPersonal Virtues test Episode 434 with Connie’s questionFINRA BrokercheckRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

You may be planning a peaceful retirement, an active retirement, or an engaged retirement, but have you ever thought about living a heroic retirement? Over the course of the next several episodes, we’ll explore what it means to live a heroic retirement with Michael Balchan from Optimize.  In this series, you’ll learn how to build a framework to lean into the kind of person you want to be every day. I’m excited to bring this teaching that we already use in the Rock Retirement Club to you. Listen to this episode to learn what a hero is and how you can be the hero of your own retirement. Michael Balchan understands the search for meaning  Michael Balchan is 36 and not approaching retirement. However, he is working on his second act. His first career was as a commodity options trader and after achieving all of the outward trappings of success he had to reassess his life. He recognized that he had achieved everything he set out to achieve yet he felt that his life was a bit hollow. This led him to explore what would give him true satisfaction.  Michael understood that the default path that he had fallen into brought wealth, fame, and popularity. These extrinsic goals were not bad goals to have, but they gave him no inner fulfillment. He then began to recognize that a deeply meaningful life comes from expressing the best version of himself in service of something greater than himself. What is a hero?  Oftentimes, people’s second act steps away from the outward displays of success. They shift from a “what can I get” mentality to one that explores “what can I give?” This is why we are exploring the concept of the hero.  The word hero comes from the Greek word and means the protector, but not necessarily in the way that you think. Greek heroes are protectors of the values and community that they hold most dearly. Heroes do the hard work by taking courageous action with their secret weapon: love.  Heroes live a life of deep meaning by intentionally expressing the best versions of themselves in service of something greater. You can be a hero in your own life by looking for the places where you fall short and taking courageous action to improve them. Lean into the amazing abilities that you already have. Consider how you can help or connect with others. How to find your purpose  The top tier in Maslow’s Hierarchy of Needs is self-actualization, however, it is said that there is actually a level beyond self-actualization: self-transcendence. We can go beyond self-actualization in service of something bigger than ourselves.  However, being a hero doesn’t mean that you have to set out to save the world. You get to choose your sphere of influence. Being a mentor, a great neighbor, a grandparent, or a spouse are all ways that you can serve others. The size and scope of your impact is up to you.  Upon retirement, you may not know your reason for waking up in the morning. Your purpose gives you energy and vitality so it is important to think about what lights you up. To find your purpose it can be helpful to look back at what you have done in the past. Look at your past experiences and consider what brought you meaning.  Find the ways in which you already make an impact in what you are doing. How are you already creating purpose and meaning in your life? Start to look for other opportunities to make contributions in the lives of others. Make sure to come back next week to learn the core virtues you can use as guideposts to build intentionality into your retirement. If you found this episode helpful, make sure to share it with a friend! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [6:00[ What is a hero?[18:48] You get to choose your sphere of influence[21:05] How to find your purposeLISTENER QUESTIONS  [30:08] How long does it typically take to recover from a bear market?[35:55] Should Bill’s wife take Social Security now or wait for Bill’s delayed benefit?[38:31] How should Steven allocate his mom’s savings?TODAY’S SMART SPRINT SEGMENT  [43:40] Find the ways in which you already make an impact in your lifeResources Mentioned In This Episode LTCI PartnersHolding Out for a Hero by Bonnie TylerBOOK - The Second Mountain by David BrooksBOOK - Flourish by Martin SeligmanBOOK - The How of Happiness by Sonja LyubomirskyWilliam DamonHeroic AppMaslow’s Hierarchy of NeedsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Dealing with a bear market after the trials and tribulations of the past 3 years may have you feeling like you are being punched while you are down. Many of us are feeling burnt out and are wondering when the punches will ever end.  In this episode of Retirement Answer Man, we’ll discuss how we can deal with this issue. Kevin Lyles joins me in the Coach’s Corner to offer his perspective on dealing with burnout. I’ll also answer some fantastic listener questions that range from how to decumulate during a bear market to how to plan for retirement with a disengaged spouse. Don’t miss this episode especially if you feel like you might soon be down for the count. It seems like the world keeps punching us while we’re down  The past 3 years have dealt us one blow after another. Covid took us all by surprise in March of 2020 and was followed quickly by the fastest bear market in history, a total economic shutdown, quarantines, work-life disruptions, and so much worry about our health and the state of the world.  2021 wasn’t much better with the political polarization of the election, Covid’s continuation, mask and vaccine questions, and more 2022 brought raging inflation, rising interest rates, war, and worldwide instability. And still, Covid rages on.  Our normal rhythm of life has been disrupted. Without that rhythm, it's hard to create stability to ground yourself. No wonder so many of us are feeling burned out. We have more than our fair share of dents in our armor. Incremental changes are often the best course of action  It makes sense if you are feeling worn out, but how you respond to these stressors is important. It may seem like drastic action is the best action to take, but during challenging times, often incremental changes are the best course of action. Small changes can help you avoid major unforced errors. You may want to take a cue from Muhammad Ali and take the punches while you are pinned against the ropes and conserve your energy until you have the opportunity to react. Steps you can take to deal with burnout  If you are feeling the effects of the past 3 years weighing down on you conserve your energy and then see if you can take these steps to take action. Acknowledge what you have been through. Give yourself some grace for all that you have suffered.Bring past successes to mind. You have the capacity to get through hard things. Think about your past experiences to remind yourself of your resilience.Reexamine those around you. Search for people who are doing what you want to do. You won’t be able to follow their exact path, but you could find ways to integrate some of their strategies into your life. Walk with the wise to become wise. Surround yourself with support. Surround yourself with people who encourage you and are supportive of your journey. This includes your network of friends and acquaintances as well as the media you choose to consume. Build the confidence to punch back. Take care of yourself and your energy. Simple self-care is important when you are getting pummeled. Exercise, practice gratitude, and help others. Self-care will help ground you when you are burned out. Make sure to check out next month’s series on how to build a heroic retirement. Don’t forget to reply to the 6-Shot Saturday newsletter if you have any advice for Anna on planning retirement with a disengaged spouse. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [1:30] We have all been taking a beating over the past few years[7:23] Rhythms ground us[11:25] Steps to take to deal with burnoutLISTENER QUESTIONS  [19:38] Should I reallocate during a bear market?[28:50] How to decumulate during a bear market[34:17] How to decide between taking a pension in a lump sum or monthly payments[38:46] How to deal with a disengaged spouseCOACH’S CORNER WITH KEVIN LYLES  [46:21] Reframe your negative thoughts to find a positive outlookTODAY’S SMART SPRINT SEGMENT  [55:14] Acknowledge how much you’ve been on the ropes this yearResources Mentioned In This Episode Boomer Benefits - check them out at no cost to you!BOOK - The Expectation Effect by David RobsonRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Does navigating this bear market in retirement terrify you? If so, you are not alone. No one can (or should try to) predict what will happen next.  A financial advisor’s advice during bear markets is often ”stay the course,” however this can leave one feeling powerless. On this episode of The Retirement Answer Man, Tanya Nichols and I analyze what you can do if you are feeling terrified in a bear market, you’ll also learn how to navigate Social Security and an ex-spouse, and how to use retirement funds to self-insure long-term care. Press play to hear Tanya and I answer these listener questions and more. What to do when you are terrified about your financial future  It is easy to be terrified about the future when every day you watch the value of your accounts drop precipitously across the board. Everywhere you look the markets are getting worse: the Nasdaq, the S&P 500, and even bonds are plummeting. The vision of the future that seemed so bright just months ago is no longer so optimistic. The words “I’m terrified” are not an overstatement when you are no longer working and you’re living on your life’s savings. What you can do in a bear market besides “stay the course”  Tony is worried about the current market volatility and wants to do something besides “stay the course.” He understands that markets bounce back, but he also realizes that his time horizon may be shorter than it takes for the market to bounce back. He feels his dream retirement slipping further and further away.  Unfortunately, no one can predict what the future will bring, so it is important to try not to beat the system during a bear market. If you jump out of the market at the wrong time your accounts may never recover.  Instead of trying to calculate what will happen, it is important to build a framework to navigate these difficult financial situations. When you are confident in the framework you have built you’ll be able to think through challenges thoughtfully and avoid overreacting one way or the other. Your framework can help you map out where you want to go and how to get there. If you are feeling terrified, now is a good time to revisit your plan of record. Is it feasible? Is it resilient? Making small iterations while sticking with your carefully laid out process will ensure that you make it through these unsettling times. Doing something during a bear market provides a sense of agency  Creating an action item can help give you a sense of agency when you have so little control of the big picture. That action item could be something as small as canceling Netflix, checking your net worth statement, or even reassessing your risk tolerance. However you choose to take action, remember to consider how that action fits into your overall financial plan. Using retirement funds to self-fund long-term care  Long-term care insurance is expensive which can make planning for a long-term care event challenging. As with any financial plan, it is important to plan for long-term care in an organized way. Rather than writing off long-term care insurance as too expensive, consider all the options. One resource you can use to explore the various possibilities is LTCI Partners.  Listen in to hear Tanya’s guidance on rebalancing, Social Security, and tax rates. Don’t miss the answers to all kinds of listener questions. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:08] Feedback from my recent conversation with Amy Bloom[6:48] Why I’m terrifiedLISTENER QUESTIONS WITH TANYA NICHOLS  [15:40] Claiming Social Security based on an ex-spouse’s benefit[17:24] What to do when you are terrified about the future of retirement[26:18] A tax rate question[28:21] What to do with a CD to pay for a parent’s assisted living[30:19] On using retirement funds to self-fund long-term care[37:17] Guidance on rebalancingTODAY’S SMART SPRINT SEGMENT  [44:38] Review your net worth statement and think about what you can doResources Mentioned In This Episode LTCI Partners - take the long-term care insurance questionnaire!Align FinancialBehavior Gap with Carl RichardsVanguard white paper on rebalancingEpisode 442 with Amy Bloom Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

This month we are answering your listener questions. If you have a question that you would like answered on the show you can jump the line a bit and take the fast track by submitting an audio question. Head on over to RogerWhitney.com/AskRoger and hit record to submit your question. Today I answer questions on a broad range of topics from paying off a mortgage on a rental property to determining the right balance for investment when there is a significant pension to whether to use a loan to pay for life while the market picks back up. Listen in to hear my thoughts on these questions so that you can not just rock retirement but rock life as well. Update your net worth statement (even if it is painful to look at)  How often do you update your net worth statement? It is important to do so annually or every 6 months. I recommend this exercise because your net worth statement is a fantastic tool that shows you the financial impact of the decisions you make.  However, due to the recent market volatility, opening your monthly investment statements isn’t as much fun as it used to be. Regardless of this fact, it is still important to understand where you stand financially so that you can work to improve your financial decisions. Should Tyler pay off his rental property mortgage?   Tyler is still young, has no debt besides his rental property, and is a great saver. He is wondering if he should pay off the mortgage on his rental property. The traditional wisdom is to keep the mortgage. Since he has a low-interest rate, mathematically it doesn’t make much sense to pay it off. But that doesn’t mean he shouldn’t pay it off.  These types of decisions are rarely about math. It is important to factor in personal feelings as well. Tyler needs to consider all the factors involved and come to a decision that is uniquely his own. There is no wrong answer to this question. What is most important to consider is which choice will give him peace of mind. Should all of Adam’s investments be in equities since he’ll have a pension?   Adam will soon retire from the military with a $70,000 per year pension. He feels that the traditional 60-40 retirement portfolio won’t be aggressive enough since he has such a large pension. So, he is wondering if all his investments should be in equities.  Instead of building your portfolio first, start by creating a retirement plan of record to forecast what you need to live a great base life. Consider your income from social capital (Social Security, pension), financial capital (investments), and human capital (work).  Once you understand how much financial capital you will need, then you can build your pie cake which consists of an emergency fund and a secure income floor with 5 years of spending. Since you have 5 years of prefunded income, then you can invest as aggressively as you would like. This system is a fantastic way to help guide your spending in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [2:25] Opening your monthly statement isn’t as fun as it used to beLISTENER QUESTIONS  [5:00] Should Tyler pay off his rental property mortgage?[9:40] Should all of Adam’s investments be in equities since he’ll have a pension? [16:50] Is there a method for deciding the best location to move to in retirement?[23:44] Using a loan vs. cashing out on stocks during a bear market[29:40] On reframing old age[31:38] Pros of cons of timing retirementTODAY’S SMART SPRINT SEGMENT  [37:00] Update your net worth statementResources Mentioned In This Episode Boomer BenefitsTed LassoEpisode 412 - What Is a Retirement Plan of Record?Episode 310 - Investing in Retirement: The Pie Cake Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

Many people are concerned about markets and inflation right now, but rather than focusing on this in today’s episode, I’ll answer your investment strategy questions. I choose to focus on strategy because if you can create a feasible, resilient retirement strategy, you’ll be able to weather all kinds of economic uncertainties. Make sure to stick around until the end to hear an interesting interview that may challenge you to rethink your preconceived ideas. You won’t want to miss it if you are open to hearing different perspectives.  If you are looking for a fast pass to get your retirement question answered, record an audio question at RogerWhitney.com/askroger. Unfortunately, you won’t win retirement  I have some bad news for you. You aren’t going to win retirement. There is no way you will figure everything out because there is no right answer.  Despite this fact, you will be okay. By intentionally working through your decisions you’ll be able to enjoy retirement to its fullest. Not everything will turn out the way you want, but if you work through the decision-making process with the spirit of a scientist, you’ll continually improve. When faced with the results of a poor decision, take time to dissect what went wrong so that you will be able to improve your decision-making the next time around.  Learning from your mistakes instead of stressing over them will help you improve your decision-making process so that you’ll achieve better results in the future. How to account for uncertainty in retirement?  When creating a retirement plan, any room for error is scary. Even a 1% uncertainty can be unsettling. So what kind of market returns should one anticipate when using retirement calculators? The problem with retirement calculators is that you can’t believe the calculator. None of the scenarios that the calculator proposes will actually happen. This makes long-term planning hard to predict.  It doesn’t matter how much you analyze your future spending, more accuracy will not improve precision.  You can’t know what your spending will be in 10, 20, or 30 years, which means that you can’t make life decisions based on an imagined future. Rather than trying to completely remove uncertainty, make reasonable assumptions to manage that uncertainty. Managing uncertainty is the essence of retirement planning. A feasible, resilient plan will see you through retirement  Once you figure out the basis that you need to live a great life in retirement then you can organize a feasible plan around that great life. Give yourself optionality by making your plan resilient. With your feasible, resilient plan you can use long-term calculations to plan for the short term.  By creating a resilient plan you’ll create slack in the system so that you can change your mind as you change over time. Managing uncertainty instead of trying to eliminate it will give you agency and build confidence in your retirement plan. Listen to the answers to all sorts of retirement strategy questions and make sure to listen until the end to hear the riveting interview with Amy Bloom. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [4:50] Should Jennifer count on an average market in retirement?[13:52] Should I worry about poor investment returns or look for alternatives?[23:42] What about using laddered ETFs rather than a bond ladder?[25:07] On my language usage[26:40] On using a 72T before age 59.5[30:45] Should Dan continue to hold a life insurance policy if his house is paid off?[35:03] How to leave behind your life storyINTERVIEW WITH AMY BLOOM  [40:16] Why did Amy choose to share her story?[43:00] When did Amy and Brian approach this topic?[50:25] How to be helpful with a life-changing diagnosis[51:27] On how to approach this situation[54:30] How they navigated the logistics[1:01:26] How did the family react?[1:04:43] What did Amy learn from this experience?TODAY’S SMART SPRINT SEGMENT  [1:09:19] Reassess your relationship with the internet and newsResources Mentioned In This Episode LTCI PartnersDignitasBOOK - In Love by Amy BloomEpisode 441 - How to Leave a Lasting LegacyFidelity Retirement CalculatorFidelity 72T calculatorDan MillerRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

If the market outlook has you feeling uncomfortable, you are not alone. This discomfort may cause you to want to change course, but consider that moments of extreme discomfort are often reverse indicators. Extreme discomfort can mean that you are on the right track to grow in a new direction.  On this episode of Retirement Answer Man, I answer your questions about choosing a financial advisor, how to weather tumultuous financial markets, and using a Roth 401K. Learn what you can do in the midst of an uncertain future by pressing play. Is this the big one?  Weathering market downturns can be like weathering a storm. When you are in the thick of it you may wonder if this is the big one that will wreck your home and change your life. Should you just hold on tight and hope that everything will all work out?  No. No one can hold your hand and assure you that your finances will recover. The rules of investing change in retirement  The rules of investing when you are in the accumulation period of life don’t work the same in when you are decumulating assets.  Since you are nearing or already into retirement you don’t have a 40-year investment timeframe to work with, so you may not be around for the next market upswing. You're in a period of life where you will need money from your investments in a short time frame.  This is why you’ll need a well-thought-out strategy that can help you to stay agile. As the situation unfolds, you can make little adjustments as needed. Staying agile will help you maintain flexibility and retain agency.  In a situation that feels out of your control, it is important to find ways to retain agency to do what you have to do to control the things that you can. You don’t want to feel powerless, so focus on what you can control. Watch out for false prophets  No one can predict what will happen in the future. However, there are many out there that claim that if you follow them they will lead you down the right path.  We have to accept our own uncertainty and refrain from trying to figure it all out. Instead of trying to predict the future or following false prophets, it is important to create a plan that you can follow to actively navigate through these tumultuous waters which will see you through any eventuality. How to know when it is time to switch advisors  How can you know if your financial advisor is doing a good job? What are some red flags that indicate that you should reevaluate your relationship with your advisor? One listener is concerned about his financial advisor since they had two misunderstandings in the last two years and is wondering if he change advisors. When researching financial advisors look for a specialist that can advise you through your specific financial situation. Consider whether they have the skillset and expertise to handle the problems and opportunities of your specific situation. Do they focus on what you need? Is your advisor an active thinker that makes decisions or do they simply follow a checklist? Since the decisions that you are making aren’t crystal clear, it is important to have a process to think through decisions in an organized manner. Does your advisor help you with this? Do they walk you through the pros and cons of each decision? Is the advisor product-focused or process-focused? If they are product-focused then this is a red flag. Another red flag is if they focus on trying to predict what the markets will do. Since no one can predict the future, it is important to find someone who will focus on the things that are within your control.  Listen in to hear what else you should consider when choosing a financial advisor and when to consider finding a new one. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT  [3:23] Moments of extreme discomfort are reverse indicatorsCOACH’S CORNER  [7:38] Kevin wants to give to the kids while they're still here[12:15] On giving money without strings attached[17:25] Kevin is relearning to show his true colorsLISTENER QUESTIONS  [19:39] How to know when it is time to switch advisors[34:05] What gives us the confidence that we will recover this time?[41:50] Should Jen switch to a Roth 401K?[48:23] What to use as a yield for net present value calculationsTODAY’S SMART SPRINT SEGMENT  [50:07] Experiment with digital minimalism for a weekResources Mentioned In This Episode BOOK - The Checklist Manifesto by Atul GawandeBoomer BenefitsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center