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Welcome back to the 2nd episode of the Women, Money, and Retirement series. All month long we will be discussing issues specific to women in retirement. Since I am not a woman, I have invited Tanya Nichols from Aligned Financial to co-host the show with me throughout this series. Tanya is here to provide a woman's perspective and to help me answer your questions. If you are a woman you won't want to miss this series that is created especially for you  What does it mean to rock retirement? If you have listened to the show before, you know that I frequently use the phrase rock retirement. I even wrote a book called Rock Retirement and I created the Rock Retirement Club, but what do I mean by rocking retirement?  When you are rocking retirement that means you are using your resources to live your best-imagined life. I want you to use the assets you have to design your ideal life in retirement. There are so many decisions to make in retirement. Many people mistakenly think that their financial decisions are separate from their life decisions, but life and money are never separate. Your money should be helping you to create the best life that you can imagine.  How do women excel in retirement planning? Men and women have different strengths and weaknesses in just about every area of their lives. This is no different in financial planning. As financial advisors, Tanya and I see the differences between the sexes every day. These differences are generalizations, but we have noticed that women excel in several areas of financial planning.  Women are more comfortable with vulnerability; they don't try to control the uncontrollable. Women look ahead toward the outcome. Women realize the value of collaboration.  Women are more thorough and take more time to make decisions.  Women don't mind speaking openly about their worries. Think about yourself. How do you excel in financial planning? Is it in one of these areas or in another way? How to confidently plan for retirement when you don't have much to start with Debbie is worried about retirement. As a single woman without a huge retirement portfolio, she feels overwhelmed and doesn't know where to start. She feels that financial advisors are only for the wealthy, but she knows that she must start learning about her finances somewhere.  The good news is that Debbie is listening to a financial podcast! That means that she has already started educating herself. Unfortunately, the financial planning industry hasn't done a good enough job of successfully reaching average income earners. However, this doesn't mean that financial planning is only for the wealthy.  In addition to listening to retirement and financial podcasts, there are other ways that people can educate themselves in these matters. Garrett Planning Network and XY Planning Network are 2 networks of more affordable financial planners that work on a monthly subscription basis. Listen in to hear more resources that can help you gain the confidence to truly rock retirement.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:10] What does rocking retirement mean? PRACTICAL PLANNING SEGMENT [3:34] What do women excel at in retirement planning? Q&A SEGMENT [11:04] Women are less prepared for retirement than men [17:12] How to tackle the feeling you aren't good enough [19:15] How to generate an income stream in retirement [22:20] Are there common pitfalls for women in transition periods? [27:27] A Social Security planning question [33:14] Who gets to keep a death certificate? [36:28] Make sure spouses communicate regularly about finances TODAY'S SMART SPRINT SEGMENT [38:43] Chat with your spouse about your net worth statement and financial plan Resources Mentioned In This Episode Episode 310 - The Pie Cake Social Security Calculators Aligned Financial Garrett Planning Network XY Planning Network BOOK - The Power of Habit by Charles Duhigg Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center  

You've got retirement questions; I've got answers. This month I'm tackling your listener questions. I'm also taking time to reflect on random thoughts I have about the retirement scene. Join me for this laid-back month with no set theme to learn the answers to questions from listeners like you.  Random thoughts on the retirement scene Retirement planning is not about optimizing returns. It is about securing outcomes so that you can feel confident that you can live the life you truly want. You can accomplish anything if you can just get over yourself.  Life happens in the inefficient moments.  Building long-lasting relationships requires making deposits along the way.  “If you don't change direction you may end up where you are heading.” -- Lao Tzu There are quality, highly competent, and collaborative financial advisors out there. The industry is changing away from a salesy, male-centric attitude to becoming a true profession. Life changes, so it is important to stay agile. Make sure to adjust your plan accordingly so that you can adapt. Should you get more conservative with your portfolio as you enter retirement? Conventional wisdom dictates that as you approach retirement you should become more conservative with your investments. In investment speak, this means having a bigger portion of your asset allocation in bonds or fixed income than in equities.  However, not every person needs to follow traditional wisdom. Rather than consider your retirement portfolio from an asset allocation standpoint, consider the time frame. In retirement planning, your time frame matters. Think about how to match your assets to your retirement liabilities or yearly expenditures. You'll want to be more conservative with the money you need in the short term but you can let your long-term assets run wild. Listen in to hear how a bucket or pie-cake strategy can help you plan your asset allocation in retirement.  How to calculate pension on a net worth statement in retirement Getting a good overall idea of your financial assets is an important part of the retirement planning process. To help you do so, you'll want to create a net worth statement so that you can better understand where you stand financially. One recent listener asked where his pension should go on his net worth statement. The answer is nowhere.  Since your net worth statement is a list of your assets and liabilities, a pension would not belong. A pension is neither an asset nor a liability, instead, it can be described as social capital. The 3 sources of income in retirement are social capital, human capital, and financial capital. A net worth statement only takes into account financial capital. Rather than include your social capital on a net worth statement, you can instead put it on a household balance sheet where it can be classified as the net present value of cash flow. You can download a household balance sheet by clicking on the resources tab at RogerWhitney.com. While you're there check out the other resources we have available to help you get started on your retirement plan. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RANDOM THOUGHTS [2:46] Retirement planning is about securing outcomes [6:22] Have you had a bad experience with a financial advisor? [9:07] If you don't change direction you may end up where you are heading Q&A SEGMENT [10:26] A withdrawal rates and returns question  [21:20] Should you get more conservative with investments in retirement? [27:22] How to calculate pension on a net worth statement in retirement TODAY'S SMART SPRINT SEGMENT [32:50] Go do something fun! Resources Mentioned In This Episode Tanya Nichols Andy Panko Taylor Schulte Benjamin Brandt PODCAST - Wild at Heart, Summer Recovery Plan episode Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

Life is like a river that flows and changes over time. There are gradual twists and turns that we make in life and retirement is one of those. To ensure that your retirement flows in the right direction it is important to plan ahead.  In this episode, we explore how to create the direction of the new flow of your life in retirement. You won’t want to miss hearing BW from the Rock Retirement Club as he defines the 6 arenas of life that require our time and energy. Listen in to check it out. What does it mean to rock retirement? I am always talking about rocking retirement here and in the Rock Retirement Club, but I haven’t ever defined what that actually means.  On a recent live meet-up with 600 of you, we were able to piece it together and create a working definition of what rocking retirement means. Rocking retirement is a verb--an action word that describes a way of being.  Rocking retirement is a state in which you work towards aligning your resources to create your best-imagined life. Money is important to rocking retirement, but decisions about money and life are always intertwined, so It’s important to create a retirement plan that helps you create a rocking retirement! What you need to ask yourself to get into the right groove Your life has created a well-defined groove that you have followed for decades and work has been essential to helping create that groove. Now that your working years are slowing down or coming to an end, it’s time to create a new groove that is different from the old one. Think about the direction you want your new life to take. What will your lifestyle look like? What can you afford? When can you start this new journey? What can you afford to do? Defining the answers to these questions is integral to creating the rhythm of your new life in retirement.  The phases of retirement There are several stages to retirement and right now you are probably in the planning stage. This is the time when you are trying to get it all figured out. You are trying to envision your retirement journey.  The second step of retirement is the honeymoon phase. This stage is a celebration of your new life. Everything you do in this stage is exciting and you will probably be actively enjoying your life. After the honeymoon phase, many retirees reach stage 3 which is a point of inflection. They start to question their choices. They may atrophy a bit and wonder if life will be like this forever. However, this is when it is time to rock retirement! Listen in to learn how you can really rock this sometimes challenging stage of retirement Design your life energy To get intentional about retirement planning you need to consider the 6 life arenas. The first one is labeled career, but this doesn’t have to be a traditional career. It can be whatever gives your life purpose or meaning. Think about what you are trying to accomplish. The next stages are family, relationships, self, spiritual, and leisure. Think about where you are spending your life energy. Is it in line with your priorities? Sit down and think about the direction of your life. Listen to this chat with the RRC head retirement coach, BW to learn how you can get your retirement moving in the right direction.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [5:03] What is rocking retirement? PRACTICAL PLANNING SEGMENT [6:55] The steps to creating your new journey in life COACHES CORNER WITH BW [11:35] The 6 life arenas [18:35] Think about how you are spending your life energy Q&A SEGMENT [21:22] A question on the Rule of 55 [24:25] How dividend aristocrats can be integrated into your retirement plan [30:10] Share your retirement wisdom TODAY’S SMART SPRINT  [31:31] Pick one area of your non-financial life to improve Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Our theme this month is your non-financial retirement plan and in this episode, we’ll explore how relationships and play fit into that plan. These are two key components to a happy, fulfilled life. You guys know how important this subject is which is why we had more than 500 people join the webinar last week. If you missed out on that webinar you can watch the recording at RogerWhitney.com/resources. Press play to hear how important people and play are to your non-financial retirement plan.  Have your relationships suffered over the last year? Covid has tested many of our relationships over the past year. If you are like me, your family relationships have thrived, yet your friendships have suffered from the lack of in-person connection. With grey divorce at all-time highs, the spousal relationship is essential to remain happy, but friendships matter too. Hopefully, the change in lifestyle that we have all experienced this past year has given you time to reflect on the relationships that matter the most to you. Loneliness disproportionately affects the elderly Loneliness is a major contributor to depression and it disproportionately affects the elderly. As people age, they tend to spend more and more time alone. A recent study showed that time spent alone increases as people get older. People in their 20s and 30s generally spend 4 hours a day alone whereas those in their 60s spend 6 hours a day alone. People in their 80s tend to spend 8 hours a day by themselves and may only spend 1 hour with friends.  Cultivate relationships with a younger crowd One way to pursue new friendships is by forging relationships with those that are younger. Not only do younger people tend to be more active, but a younger crowd will likely not leave you as the last man standing as you age.  If you don’t have younger friends it is easier to do less and less each day. It can become harder to leave the house and stay active without the motivation of others to help you stay engaged. This can lead to atrophy--mentally, physically, and emotionally. Retirement isn’t a time to just sit around waiting for what is to come. You’ll likely have 30+ years ahead of you. The more you get out and play now the better quality of life you’ll have in the years ahead.  Retirement isn’t an event, it’s a transition Our relationships evolve over time, and retirement can change the friendships that you have. Some friendships may fall away as the season of your life changes. However, it’s important to recognize the relationships that are worth preserving. Some friendships should be fostered through the changes in life. Retirement isn’t a single event, it’s a transition. This is a time in life when you can cultivate new relationships. Think about who you choose to associate with foster friendships that will challenge you to be your best self.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:30] As we age our network of people decreases over time [9:40] It’s harder to get out of the house as you age COACHES CORNER WITH BW [12:35] 6 essential characteristics of a healthy relationship [26:02] Grey divorce is more and more common Q&A SEGMENT [30:15] Should Richard take Social Security [31:56] Navigating Medicare after moving to a different state [34:03] Security surrounding online money management platforms [39:07] A word of wisdom from Cynthia TODAY’S SMART SPRINT SEGMENT [42:40] Let what you learned about relationships and play marinate this week Resources Mentioned In This Episode Ted Lasso Boomer Benefits Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Retirement is about much more than finances. Money is important to mastering retirement, however, it isn’t everything. To have a successful retirement you must start with a strong financial plan and then begin to consider everything else. Over the next 4 episodes, we will discuss your non-financial plan. You must have a strong understanding of what is important to you before you begin retirement because someone or something is sure to fill your time when you retire.  Make your retirement count by identifying your purpose to help you determine your new rhythm of life. This 4 part series will help you realize the importance of your non-financial plan in retirement.  Start by getting your money right The key to beginning any non-financial plan is by first ensuring that your finances are in order. You can’t begin to focus on the rest of your retirement without having your financial plan in place.  The first step to any financial plan is by separating your desires into needs, wants, and wishes. Think about what a fulfilling life would look like to you and then consider how you will pay for it.  There are 3 ways to pay for life in retirement: social capital, human capital, and financial capital. After identifying how much money you will have from those first 2 areas you can then understand how much of your savings--your financial capital--you’ll need each month. The key to creating a financial plan in retirement is by staying agile.  What do you lose when you leave full-time work? When you leave your full-time job to retire you lose more than just a paycheck. Many people don’t consider this, but a lot of the anxiety over planning for retirement is about the void that is created by stepping away from the professional world.  You will need to learn how to create a paycheck in retirement but you’ll also need to learn how to create structure, social connections, and how to establish an intentional rhythm to your life. Have you considered how you will fill the void that your work life will leave behind?  What are the elements of life that will help you rock retirement? What do you need to live a good life? I’m not referring to the material things that surround you, I mean the non-tangible elements in life. Relationships, congruency, self-growth, gratitude, and agency are all examples of these intangible elements that are so important to living a fulfilling life. You’ll need to consider these intangibles if you want to create an amazing life in retirement. Listen in to discover why the intangibles are so important to your non-financial plan.  Join me for the live webinar! If you found this episode helpful, be sure to check out next week’s webinar. On May 13 at 7 pm CDT I’ll be hosting a live webinar where you will learn what it takes to build your own non-financial retirement plan. Not only will you learn all about how to use the pie cake retirement investment plan, but you’ll also learn the elements to consider on the non-financial side of retirement. Additionally, you’ll get a sneak peek into the RRC. Click here to register now! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [6:02] What are the elements of life that will help you rock retirement? [8:45] What do you lose when you leave full-time work? [13:20] Start by getting your money right Q&A SEGMENT [16:58] A question about a 457 plan [18:31] What are the pros and cons of listing your estate as a beneficiary? [21:30] The pro-rata rule TODAY’S SMART SPRINT SEGMENT [23:43] What non-financial elements of your life will change in retirement? Resources Mentioned In This Episode LiveWithRoger.com Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

As you start retirement planning you’ll want to think about using various types of retirement vehicles. This is why we are exploring different asset allocation ingredients in this series. I want you to understand the basics of these investment vehicles so that you can make an educated decision on what to include in your retirement portfolio.  Today you’ll learn about closed-end mutual funds, UITs, and structured notes. Listen in and learn why it’s important to keep your investments simple. Don’t need to overcomplicate your investments.  What is a closed-end mutual fund? The biggest difference between a closed-end mutual fund and an ETF or open-ended fund is they issue a fixed number of shares. Because of this, closed-end mutual funds act more like individual stocks. They even have an initial public offering just like a stock does. Sometimes they will even roll out a secondary offering. Since there are a limited number of shares, that means there is no more money coming in or out of the fund. Closed-end funds also use leverage as a way to improve returns.  What are the advantages of closed-end mutual funds? Open-ended funds and ETFs always trade at net asset value, however, closed-ended funds can trade at a premium or at a discount. They aren’t typically purchased at the net asset value.  Closed-ended funds don’t experience cashflow issues since they have a fixed amount they are investing. They don’t have to sell securities just because someone needs the money. People usually buy closed-end funds because of the distribution yields they payout. But it is important to remember that the high yield is usually due to the leverage they use. Discover the disadvantages of closed-end funds by pressing play.  What is a unit investment trust (UIT)? A unit investment trust (UIT) is a fixed portfolio. You’ll get a basket of securities in certain percentages that stays consistent over time. At a predetermined date, this trust matures like a bond and you’ll receive the cash value. The benefits of UITs are the costs and the lack of yearly capital gains. Since the trust matures at a certain time you will only need to worry about capital gains taxes at that time. They are also low in cost due to less management. Discover why I haven’t used UITs and why I really don’t like structured funds by listening. Check out the Rock Retirement Club The Rock Retirement Club is our online university that will empower you to rock retirement. The online courses will teach you how to build your retirement plan step by step. You’ll learn how much is enough and when you can retire. In addition to being part of the amazing community of like-minded people walking the same journey, you’ll also gain access to retirement calculators, spreadsheets, and other tools to help you rock retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [4:38] What is a closed-end mutual fund? [8:31] What are the advantages and disadvantages of closed-end mutual funds? [12:57] What is a unit investment trust (UIT)? Q&A SEGMENT [19:17] How much is too much for a 5-year plan? [25:03] A healthcare before Medicare question [30:34] Self-funding long term care insurance using your home TODAY’S SMART SPRINT SEGMENT [37:13] Think about what you can accomplish between now and the end of the year Resources Mentioned In This Episode Check out the long term care insurance series by starting here Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger

Retirement planning takes many different forms, but to effectively manage your money in retirement it is important to know the types of investment accounts that are available. This is why I am hosting the Asset Allocation Ingredients series.  Over the course of this series, we explore what goes into your investment mix. This episode focuses on separately managed accounts. You’ll learn what they are and their advantages and disadvantages.  Make sure to stick around for the listener questions segment to hear answers to questions from listeners like you.  What is transformation? Transformation means a dramatic change in form or appearance. However, there are many transformations we can make in life that aren’t physical. Common life transformations occur when we leave school and enter the professional world, go from single to married life, and of course, from working to retired.  A transformation can be triggered by a few different things. It could be triggered by a life event, or it could be a gradual change over time, or simply by you looking for a change in your life. Are you working towards any transformations in your life?  What is a separately managed account? A separately managed account is a portfolio managed by a third party. Essentially, you are assigning the management of funds to a money manager who is implementing the portfolio that you have hired them for.  A separately managed account is different from an ETF or mutual fund in that you open an investment account at a firm and the account manager will build the portfolio based on the strategy you choose. It’s like a mutual fund that is completely unwrapped. You own each individual position in that account rather than in a bundle.  What are the advantages and disadvantages of separately managed accounts? Some advantages to SMAs are:  You have access to institutional managers that don’t manage mutual funds. You can customize your account by setting restrictions on what is allowed.  You maintain better control of the realization of gains and losses. There are a few disadvantages: There are fewer options to choose from. The baseline to open an account is higher. Fees are generally higher than other types of accounts. They add more complexity to your portfolio. Are separately managed accounts a part of your portfolio? What do you like about them? What’s coming up next on Retirement Answer Man Make sure to check out the next episode where we will explore UITs and structured notes. After this deep dive into the financial aspect of retirement, next month our focus will shift to the non-financial side of things. You won’t want to miss out on building your non-financial retirement plan. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [2:10] What is transformation? PRACTICAL PLANNING SEGMENT [5:49] The basics of a separately managed account [10:08] Disadvantages to this kind of structure for investments Q&A SEGMENT [14:24] A thank you from Dennis [18:21] How to choose mutual funds [21:38] The tax deductibility of long-term care  [23:52] How did I calculate the discount rate in the Retirement Plan Live webinar [31:11] What do you do with tax liability on a net worth statement? TODAY’S SMART SPRINT SEGMENT [34:05] Think about a transformation that you are working toward Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Elana's NFB of Wisconsin Convention Recap, Fun Fact of the Week, Celebrity Birthdays, Everett's Arizona Trip, new Q&A Segment, and This Week in History

Do you know what you should be doing in the 5 years leading up to retirement? Are you doing everything you can to get yourself retirement-ready?  This is the last episode in a 5 part series that expands upon what you need to do in the final push before retirement. If you’d like to start at the beginning of the series click here.  Today we’ll hear from the audience. I have asked those that have already retired to share what they wish they would have known before retirement. Listen in to hear their words of wisdom so that you can make sure to rock your retirement.  Your mental model can determine your success How do you envision your retirement? Are you stressed about the logistics? Can you visualize yourself living out your retirement dream? Many of us get caught up in the numbers side of retirement planning. And although it is important to have a good financial plan in place, what can be even more important is your model of what is achievable. If you don’t think your goal is achievable you’ll never be able to realize it.  One way to adjust your mental model is to hang out with and learn from people that are already there living the way you want to live. Learning from them can help you evolve your own mental model. Listen in to expand your vision of what is possible in retirement.  Words of wisdom from current retirees Over the past month, I have been asking listeners who are recent retirees to chime in with pieces of advice that they wish they had known before they retired. I got some fantastic responses via email and voicemail.  Chase wishes he had talked with others about their Medicare plans before choosing his own. Even after all his time researching, he felt like he made a poor choice of plans. During his next enrollment period, he’ll go with a different plan that a friend uses. Kyle wishes he had paid more attention to tax brackets. He was a fantastic saver over the years, but didn’t focus on the different types of accounts he was saving in. This won’t be helpful when it comes to tax planning in retirement.  On the flip side, Doug is very pleased that he laid out an income strategy in his retirement plan. Tax planning was a big part of the way he planned. Glen recommends paying off the mortgage in the years leading up to retirement. Not only did it feel great to pay off, but this also allowed him to test drive his retirement budget. Listen in to hear how Glen did that. Create your retirement plan and stay agile Looking at the big picture and creating your retirement model will help you envision the life you want. Engage with your spouse if you are married and discuss what life could be like. Knowing where you want to go helps create the mindset you need to move forward with confidence and to live life without regrets.  Organization is power, so have a game plan and be ready to execute it. You can always make adjustments as the retirement game unfolds. If you stay agile then you can adjust your plan as needed.  Don’t miss out on all the words of wisdom from our listeners. They have some fantastic advice to get you moving on your retirement journey. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:30] Your mental model of what is achievable is just as important as everything else [4:42] Ask others about their Medicare plans [6:36] Building out a retirement helps to picture what could be [8:31] knowing where you want to go creates the proper mindset to move forward with confidence [10:02] Kyle wishes they had paid more attention to tax brackets [11:53] It’s important to have nonwork friends [16:09] You will lose your life insurance if it is through work [18:44] Wishes he put more 401K into Roth [22:02] Allow yourself to relax Q&A SEGMENT [24:29] A long-term care buyout question [30:35] A MYGA fixed annuity question TODAY’S SMART SPRINT SEGMENT [33:11] Think about your mental model -- is it holding you back? Resources Mentioned In This Episode Long-term care series - Start at episode 311 Breaking the 4 Minute Mile from Harvard Business Review  Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Are you within 5 years of retirement? If so, it’s time to start training. Retirement is like a marathon, and you need to be ready to run it. This episode is part 4 of a 5 part series on what to do in the 5 years leading up to retirement. Today you’ll learn how to properly train for the marathon that is retirement so that you can enjoy the run when you get there. Are you signed up for the 6-Shot Saturday newsletter? Make sure to get on the email list so that you can receive a comprehensive guide that lays out what you need to focus on in the 5 years leading up to retirement. Next week you’ll hear tips from current retirees who are a few steps ahead of you on this journey, so don’t miss it! Expert advice from those who have walked the walk Many of you have wondered how our Retirement Plan Live case study participants have fared in retirement. A few years ago, our first participant, Carl, came out of the closet to let everyone know that he is actually Fritz Gilbert from The Retirement Manifesto.  Fritz joins me today to share his experience in writing his blog and what he learned from planning his retirement. Now that he has a few years of retirement under his belt he can reflect on what worked, what didn’t, and what were the integral parts of his retirement planning. Come listen to those who have already walked this walk. Let’s see what we can learn from them. Listen in to hear Fritz’s story.  Fritz’s takeaways from his retirement planning So, what did Fritz learn from his retirement planning? He did so much to plan for retirement, but certain things that he did proved more helpful than others. During his one phase of planning for retirement, Fritz created a pre-retirement checklist.  He had never made a budget before but knew he had to have an understanding of how much he and his wife spent each month. They successfully tracked their spending by category for 11 months so that they could break those expenditures down into necessities and discretionary spending.  After having a better understanding of his spending he was able to lay everything out in a cash flow timeline. Fritz projected his cash flow for the first 5 years of retirement which helped him understand how and where he needed to put his money.  What was the biggest adjustment for Fritz in retirement? One thing that people don’t plan for is how they will move from the accumulation phase of investing to the withdrawal phase. This stage of investing requires a completely different approach to managing a portfolio.  Your new investment plan must be in place from day 1 of retirement, so it will need to be planned out a few years prior to retiring. Have you considered hiring a financial planner as a consultant to check your retirement plan? The non-financial aspects of retirement are just as important as the financials When people talk about the changes of retirement they are referring to the non-financial aspects of this stage of life, yet most people focus solely on planning the financial part of the puzzle. Your best chance for a great retirement is finding out what gets you excited about life. What will give you purpose when you retire?  When you retire you’ll leave your network of friends, the structure, routine, challenges, and rewards of your work life behind. This freedom can be liberating or paralyzing. Think about ways that you can give back and focus on others. Listen in to find out how Fritz’s 10 commandments of retirement helped him stay focused on rocking retirement.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:56] What is a marathon? [4:25] Retirement is like a marathon [12:03] Your marathon should be enjoyable PRACTICAL PLANNING SEGMENT [15:10] Fritz Gilbert aka Carl reflects on his retirement planning [18:12] Fritz was never a budgeter [21:15] Were there any spending surprises? [27:50] Get your investing plan in place [32:14] The non-financial aspects of retirement can be a source of anxiety as well  [46:07] Define your values  Q&A SEGMENT [49:09] Are there any tax consequences to consolidating your retirement accounts? [51:19] How will Social Security work with a disabled child? [54:30] What are you trying to optimize for in your planning? TODAY’S SMART SPRINT SEGMENT [58:22] Start to put your plan together Resources Mentioned In This Episode Retirement Manifesto Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center  

Have you ever tried Googling your specific retirement questions? Chances are, those Google searches gave you more confusion than clarity. We all want to rock retirement, but there is a long road from where you are today to the retirement of your dreams.  My goal with the 5 episode What to Do in the 5 Years Before Retirement series is to teach you what you need to focus on in those years leading up to retirement. I want you to have the knowledge and power you need to truly rock retirement. If you want to learn what it takes to fulfill your retirement dreams then press play now.  Identify your values Many people think that they are most worried about the financial aspect of their retirement but they don’t want to acknowledge the fact that they are worried about other areas of retirement as well. Instead of recognizing these worries, they redirect their worries to the financial areas.  One way to begin to get started planning the non-financial side of retirement is by identifying your values. Think about who you want to be. What do you want your life to represent? You can create a new identity for yourself in retirement that reflects your true self.  Once you identify your values you can then create your mission statement. Take some time to reflect on what you really want as you work through these exercises. Get off the career treadmill In your career, you have been focused on achievement for decades, but in the last 5 years of retirement, you need to mentally separate yourself from your career. Work has always come first, but it won’t be that way for long. Since you are no longer trying to get that next promotion it’s time to start setting boundaries.  Try taking a retirement rehearsal. Think about where you want to live and what you want to do in retirement and take a month off of work to go there and do what you would be doing.  Expert advice from those who have walked the walk Listen in to this episode to hear this interview with the Rock Retirement Club’s very own retirement coach, Kevin (Beachwalker) Lyle. He’ll share his experience from his own retirement as well as the wisdom he has learned from others in his time coaching with the RRC. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [6:39] Acknowledge the stress you feel [8:02] Identify your values [13:22] You need to get off the career treadmill [19:05] Book recommendations  Q&A SEGMENT [22:34] Why don’t more planners use a fee-only structure?  [33:30] Annuities are now offered in 401K and 403B plans, are there any plans with lower fees? [35:47] Stop looking for a deeper meaning to everything [37:05] Can you use an HSA plan for healthcare premiums? TODAY’S SMART SPRINT SEGMENT [40:23] Think about the non-financial changes that will happen in retirement Resources Mentioned In This Episode BOOK - Halftime by Bob Buford BOOK - Boundaries by Henry Cloud BOOK - The New Retirementality by Mitch Anthony Annuity series Rock Retirement Club  

Are you trying to gain the confidence you need to rock retirement? If so, you’re in the right place. Welcome to the Retirement Answer Man show, you’ve joined the second episode in a 5-week series geared toward those who are within 5 years of retirement. If you’d like to listen to the first episode of this series head on over to episode 367.  The purpose of this series is to get you to start thinking about the things in the financial realm to prepare yourself for this monumental life transition. Most blogs, podcasts, and other retirement resources focus on the retirement sizzle -- this series will serve you the steak. Press play if you are ready to build a strong foundation to rock retirement.  How to build your foundation so that you can rock retirement When you are within 5 years of retirement it's time to start thinking about your retirement plan. This is not the time to get fancy, instead, it’s time to start building your foundation. You can do this by creating your initial plan of record. This is the plan that balances all the cool things you want to do in retirement with all the resources you have available to make it happen.  Your initial plan of record will help you start to make decisions. You can use fancy charts and tables to help you build your success ratios, but what is missing is what you can do to make it so. You want to know exactly how your plan is going to work. Where are you going to get your paycheck? Your plan of record is the chart that helps you get into the specifics of how to make retirement work.  Is your plan feasible? Once you get it all laid out in your plan of record, then you’ll want to map out your first 5 years of retirement to help you make decisions on where to allocate your resources.  It is important to stay agile. You may have to change your plan based on external factors like the markets, your dreams, your health, or whatever obstacles pop up.  To check the feasibility of your plan you’ll need to dial in your needs, wants, and wishes and your 3 sources of capital. Once you have determined these things then you’ll begin to build your process to determine the feasibility of your plan. Listen in to hear how.  Use the right tools You probably know about many of the retirement planning spreadsheets and calculators that are out there. It can be tempting to jump around and use different sources, but once you find one you’ll want to stick with it. Find a scale that you can use to dial in your information that you use consistently over time in an agile way to make decisions.  Map out the first 5 yrs of retirement Now it’s time to think about your income sources and projected spending for the first 5 years of your retirement. Look back at your 3 sources of capital: social capital, human capital, and financial capital. Will you use social capital like a pension or Social Security? Will you work part-time or start a small business? If so, what is your projected income from those sources? Will it cover your spending? If not, the deficit that remains will be covered by your financial capital. Listen to this episode to really dig in and discover how you can build your retirement plan for those first 5 years.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:31] If you are already retired please share your wisdom at RogerWhitney.com/askroger [4:37] Create an initial plan of record [9:12] Is your plan feasible? [12:44] Map it out [16:36] Now is the time to check on your Social Security benefit [22:33] Where do you put your excess cash flow? [25:41] What is liquidity? Q&A SEGMENT [29:57] Isn’t there an exception to the 5-year rule of Roth conversions? [30:35] Are real estate syndications good or bad? [36:14] Pay off the house or make a Roth conversion? [41:00] Are there examples of Retirement Plan Lives with people who have fewer resources for retirement? TODAY’S SMART SPRINT SEGMENT [41:44] Create a simple spreadsheet that maps out the first 5 years of your retirement Resources Mentioned In This Episode SSA.gov If you are already retired please share your wisdom at RogerWhitney.com/askroger Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Do you want to have the confidence to truly rock retirement? Are you within 5 years of retirement? If so, this is the series for you. Over the next 5 episodes, we’ll explore what you should be focused on in the years leading up to retirement.  Today we’ll explore the opportunities and risks that come within this time frame. Next week, we’ll start setting the stage to prepare you for retirement. After that, we’ll explore the financial and non-financial aspects of preparing for retirement. In the 4th episode of this series, you’ll learn how to put it all into a plan. And lastly, you’ll hear an episode full of wisdom from people who are a bit ahead of you in this retirement journey. Are you ready to get started? Press play now! Preparing for retirement is much like prepping for an adventure In the 5 years leading up to retirement, you need to get ready. It’s as though you are preparing for an adventure. I liken it to a backpacking trip I took a few years back. First, my partner and I had to decide where we wanted to go. Then we had to arrange the logistics. Next, we had to assess whether we had the right equipment for our journey. Then we had to consider both our physical and mental readiness. After that, we had to acquire the things we needed. Once we finally got to our destination we had to assess the trail ahead. We even had to add extra supplies based on those trail conditions. We had to remain agile throughout the course of our journey.  The opportunities and barriers to preparing for retirement At this point in your career, you are probably making more money than you ever have before. You have a reputation and a vast professional network. You may even be at the tail end of the various financial engagements that come with raising a family. Now is a good time to evaluate your life.  There are some barriers that you may need to overcome as you prepare for retirement. I often refer to the 50s as your not-so-thrifty 50s. It’s easy to save more and spend less now that you are earning more. It’s also easy to create a financial cage for yourself. Be careful of financial obligations like 2nd mortgages, RV or boat payments, or even that adult child that you continue to subsidize. These obligations could force you to work longer than you would like. Listen in to hear about more barriers you might face as you prepare for life in retirement.  What can you do now to set yourself up for retirement? There are several steps you can take to begin to set yourself up for retirement.  Start to assess your risks and opportunities by dialing in your income, expenses, and savings. Think about your expenses. What does it really cost to live your life? Separate your discretionary and non-discretionary spending to realize what it takes to live a good baseline life. Create your net worth statement listing your assets and liabilities.  Assess your boundaries at work. You have worked hard to build your career, but have you built up boundaries between work and home life? Assess your social life. Who would you call to have coffee with tomorrow? Do you need to broaden your social network? Assess your purpose. If you had 2 weeks to not think or talk about work what would you do each day? It’s a great time to join the Rock Retirement Club! Are you signed up for the 6-Shot Saturday newsletter? You’ll want to make sure that you are so that you can get our free net worth and expense worksheets. Have you been on the fence about joining the Rock Retirement Club? Now is a great time to join because on March 16 we are starting a 3-week sprint to assess your needs, wants, and wishes. You can try it out for 30 days with a money-back guarantee. Go ahead and join now to see whether it is right for you.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:30] A Rock Retirement Club update [4:04] The five years leading up to retirement is much like prepping for an adventure [7:27] You have opportunities that you don’t want to miss in the 5 years  [11:37] What can you do now to set yourself up for retirement? Q&A SEGMENT [21:51] Using a Roth IRA to fund long term care [27:11] Roth IRAs and the 5-year rule [30:04] Roth IRAs and Game Stop TODAY’S SMART SPRINT SEGMENT [31:57] Start to dial in your expenses and update your net worth statement Resources Mentioned In This Episode Share your wisdom with future retirees! RogerWhitney.com/askroger Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Good health is not something you can buy, but it can be an important savings account for your future. Over the course of the next 4 episodes, we will focus on how to stay healthy and fit in retirement. We’ll discuss exercise, mobility, and nutrition. In the final episode of the Let’s Get Physical series, you’ll learn how to create an action plan to build and maintain healthy habits throughout retirement. Press play to get started on creating a healthy life. What is the difference between hurt and harm? The difference between hurt and harm is somewhat obvious but it may not be readily apparent when it comes to making decisions. You may put off going to the dentist to get your tooth fixed because you know it is going to hurt. We generally try to avoid hurt, but hurt can be beneficial. Hurt itself, isn’t a bad thing. Eating junk food and choosing not to exercise doesn’t hurt, but it does harm you. It is important to recognize the difference between hurt and harm to help you stay healthy. Modern medicine provides longevity, not quality of life Modern medicine is amazing, however, there is a dark underbelly to our healthcare system. Longevity is the goal of modern medicine, not quality of life. If you are unhealthy, medications can keep you alive much longer than you would have ever been alive in years past. You may even be able to live as long as a healthy person. But those additional years that drugs and doctors’ care provide you will not be high quality and productive, instead, life will be painful and stagnant.  The costs of being unhealthy Choosing an unhealthy lifestyle ends up being costly. The more unhealthy you are, the more you will pay for healthcare. And although this number can be quantified in dollars, there are other costs as well. These social costs aren’t easily quantifiable, but they will certainly be felt.  Rather than being an active participant in life, an unhealthy person becomes a spectator. Their mindset changes and they tend to break from the person they once were. They shift from a growth dynamic to a decaying dynamic. Are you willing to take the risks that come with an unhealthy life? You can’t change the choices you made in the past, but you can change your unhealthy habits now.  Good habits compound over time Small habits make us who we are. Just like saving money, our habits (good or bad) compound over time. You can’t buy good health, but you can invest in it. Building healthy eating and exercise habits doesn’t have to be about your weight or how you look. The purpose of creating healthy habits in retirement is to build energy and increase functionality. Listen in to learn how to create healthy habits so that you can rock retirement.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:30] What is the difference between hurt and harm? PRACTICAL PLANNING SEGMENT [4:48] The goal of modern medicine is longevity, not quality of life [8:18] Healthy habits compound over time Q&A SEGMENT [12:20] The keys to ETFs and mutual funds [15:11] A health savings account question [19:11] My thoughts on the 4% rule [22:37] Can Gary’s 401K annuity be moved within the 401K? TODAY’S SMART SPRINT SEGMENT [25:18] Pay attention to your eating and exercise habits Resources Mentioned In This Episode Episode 310 - The Pie Cake  BOOK - Atomic Habits by James Clear BOOK - Younger Next Year by Chris Crowley BOOK - Boundaries by John Townsend Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center  

In this episode:  Getting to know us, Kids/Divorce, Q&A Segment, Invisible Powers, Favorite Snack, Travel with the snap of a finger, Plans for winning 800 million dollars, Talking to the dead, Going back in time, Conspiracies, What will the year 2070 be like, Embarrassing moments And Covid-19's affects on us. The Wharrrrittttissss Segment (News Segment):  A woman in Grand Rapids Michigan waited 6 months for taste and smell to come back after COVID-19. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/lifetastic/message Support this podcast: https://anchor.fm/lifetastic/support

A result of the infamous year 2020 is that companies are looking left and right for ways to cut costs. One way many companies are trimming the fat is by offering early retirement packages to their most experienced team members. There are many questions you should ask yourself if you have received the offer of an early retirement package. Listen in to discover what you need to be thinking about in this situation.  Even if you have been planning to retire you may not be ready just yet  You may have been considering and planning your retirement for a while now. But even if you are well prepared for that future date, receiving an early retirement offer can still feel like you are being thrown a curveball. You may not feel like you are ready to pack it in just yet. Even after all of your planning, there is an internal struggle.  What should you do if you are offered an early retirement package? If you receive an early retirement offer you may have a limited amount of time to make your decision. The first thing you should do is seek counsel. Gather your team together. This should include your spouse and anyone whose opinion you value in these matters. Next, you’ll want to consider how the package can serve you. Will it simply move forward all the things you were planning? Questions to consider before taking the package There are many questions you should consider before coming to a decision. How will this package affect your benefits like pension, life insurance, and your vestedness within the company? How will it affect your healthcare options? Filling the gap between workplace provided health insurance and Medicare is the biggest challenge of early retirement. Listen in to hear all the questions to ask yourself if you are offered an early retirement package.  What if you’re still not ready to retire?  What should you ask yourself if you say no? Do you want to continue and stay in your role at the company? If you do, what will that look like? Will your job become harder? If you don’t accept the package will that affect workplace politics?  Before you come to any decision you need to make sure that you have a feasible plan in place. If you aren’t sure how to create that plan, consider joining the Rock Retirement Club. We have a masterclass where we teach you how to build a plan that is designed just for you.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [5:07] What should you ask yourself if you receive an early retirement package offer? Q&A SEGMENT [16:08] A question from a listener that received an early buyout package [21:24] A suggestion for a series theme [22:35] How to migrate to a more balanced portfolio [24:20] A bond index question TODAY’S SMART SPRINT SEGMENT [29:46] Work on your retirement planning project Resources Mentioned In This Episode The Pie Cake episode The bond series - Start here Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

The Coronavirus pandemic has brought about so many disruptions to our daily lives. In addition to all the health precautions we must take, many of us have had to deal with job loss as well. Whether it was a furlough, layoff, or early retirement, the results are the same. You used to be working and now you’re not. During this entire month, we will discuss what you can do when you are retired unexpectedly. On this episode, you’ll learn 5 things you can do when you are suddenly retired. What is triage?  Triage means assigning priority to projects based on where resources can be best used in order to increase the likelihood of success. We often hear the term triage in medical circumstances, but we can use it with financial situations as well.  The first thing to do to triage a situation is to assess where you are. Once you do that you can determine what to do first. When life throws you a curveball triage your state of affairs before reacting.  5 things you need to do if you are pulled into retirement When you receive notice that you’ve been laid off or even if you are offered an early retirement package it can feel like the bottom has dropped out from under you. Before you can figure out your next move you need to give yourself some breathing room to contemplate the change. You can follow these 5 steps to give yourself the structure you need to move forward.  Get organized. You need to take stock of your financial life. Understand your spending. How much money do you need each month? Take some time to map out the monthly debts you owe yourself over the next 12 months. This step will help you get back on your feet.  Check your liquidity. Next you’ll want to map out your income sources for the year. This will help you figure out the deficit between your expenditures and revenue. This is also a good time to reorganize your financial assets and refresh your net worth statement. Reassess what is important to you. Are your priorities in order? Now is a good time to revisit what those priorities are and to make sure that your life is a reflection of those priorities. Gather your team. Now is the time to seek counsel. Talk to your spouse, your advisor, your CPA, and good friends whose opinion you value. It can be hard to gain perspective from where you sit, so having another opinion can help you see things from a different point of view.  Determine what to do first. This is the step that most people get stuck on. There are so many decisions to make that it can be overwhelming. Choose one thing to do first, then move on to the next. Don’t try to do everything all at once.  Don’t miss the upcoming webinar! Following these steps can help you take control of your circumstances and ultimately make better decisions. If you have been unexpectedly retired recently you won’t want to miss the webinar on October 29 at 9 pm. Make sure you are signed up for the 6-Shot Saturday newsletter to get your invitation.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [4:06] What is triage? PRACTICAL PLANNING SEGMENT [7:10] 5 things you need to do first if you are pushed into unexpected retirement [21:42] Figure out the next version of you [25:20] Join our live webinar on October 29 at 7 pm central Q&A SEGMENT [26:35] The pros and cons of choosing a certain month to retire [31:02] What to do about an early retirement package? TODAY’S SMART SPRINT SEGMENT [36:09] Try being consciously incompetent Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Danielle Roberts from Boomer Benefits joins The Retirement Answer Man Show again to help us understand the nuances of the Medicare system. She has a new book coming out soon called 10 Costly Medicare Mistakes that you won’t want to miss. In this episode, you’ll learn from Medicare horror stories, the biggest mistakes you can make with Medicare, and why you need to check your plan every year. Make sure to sign up for 6 Shot Saturday to get free resources by Danielle Roberts, our Medicare expert! Make sure you are prepared to jump into retirement Sometimes retirement can come at you suddenly. Are you ready to jump into retirement? You may be suddenly thrust into this whole new world. However, for others, retirement can seem like a cliff where they are standing on the edge. It can be hard to take that leap; some people end up waiting and waiting forever for the right time to jump. Educating yourself and planning ahead can help you prepare for retirement. Listening to Retirement Answer Man can help you prepare to take that leap into this amazing new world.  Will dropping Medicare Part D help this listener eliminate IRMAA? One listener got a notification in the mail that he would be charged an IRMAA surcharge for his Medicare Part B and D plans. Since he uses a discount drug plan apart from Medicare Part D he was just thinking of dropping Medicare Part D altogether. He can drop Part D and forgo the IRMAA surcharge on that plan, however, doing so will mean that he has to wait until the next election period if he decides he wants back into the program. Additionally, he will then have to pay a penalty for each month that he went without the Part D drug plan. Listen in to learn how much that penalty is and discover a Medicare mistake that you won’t want to make.  Biggest medicare mistake Medicare is a tricky system to learn, especially if you haven’t done any research. The biggest mistake you can make is waiting until the last minute to learn about this healthcare system. Danielle shares that there are many people who are under the impression that Medicare is free and then are shocked to learn that they don’t have enough money saved to cover their healthcare expenses in retirement. Make sure that you don’t make this mistake. Listen to the entirety of the How Does Medicare Work series to help you begin to learn the intricacies of the Medicare system.  Check your plan every year Medicare has so many different ‘open enrollment’ periods so it can be confusing to know which ones are the most important. Your plan will change from year to year, so when you get a packet in the mail in the fall pay careful attention to the changes. You can also check your plan changes at MyMedicare.gov and use the plan finder tool to compare your plan with different plans. Don’t miss it when Danielle explains why it is so important to check the different plans that are offered from year to year.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:33] How retirement is similar to hang gliding PRACTICAL PLANNING SEGMENT [9:08] Will dropping Medicare Part D help this listener eliminate IRMAA? [13:35] The biggest Medicare mistake [15:22] Did your job prevent you from paying into Medicare? [17:57] Medicare horror stories [22:19] Why it is important to check your plan every year [26:37] Danielle shares her biggest pet peeve Q&A SEGMENT [30:22] To an RV finance or not to finance  [35:54] Renting in retirement? TODAY’S SMART SPRINT SEGMENT [39:03] What will it take to make you jump into retirement? Resources Mentioned In This Episode BOOK - 10 Costly Medicare Mistakes by Danielle Roberts Boomer Benefits Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Over the past few weeks, we have talked about the different pieces that make up our Medicare system. Medicare is a fairly complex system with a lot of nuances to be aware of. One of the things you may have noticed is that there are some gaps in Medicare coverage. Today Danielle Roberts from Boomer Benefits is back to help us understand these gaps and what we can do to fill them.  Medicare isn’t the only place we see gaps in retirement. Often time there are other places where we have gaps in our retirement planning. Listen in to discover how to fill these gaps in Medicare and elsewhere in retirement.  Analyze your gaps in retirement In project management, there is something called gap analysis which helps project managers identify gaps. Gap analysis has 5 basic steps.  Identify the area to be analyzed and identify the goals to be accomplished in that area. Establish an ideal future state. What is the ideal outcome? Analyze the current state. What is it like now?  Compare the ideal state to the current state,  Identify the gap between the current state and the ideal state so that you can begin to close that gap. Gaps in retirement planning In retirement planning, people often skip step 2 when analyzing their own gaps. Rather than identify the ideal state for their retirement, they only analyze their current state. I argue that the project management method of gap analysis is a much better way to approach retirement.  When you first establish what your ideal retirement will look like and then figure out the rest you start with a blank slate. Isn’t that what you are looking for in retirement? Learn how you can start your retirement off right. Start with a blank slate rather than limit yourself by where you are currently.  Filling the gaps that Medicare leaves If you have been listening to the past few episodes, you probably noticed that there are some gaps in the Medicare system. If you have been wondering how to fill those gaps, then you’ll definitely want to listen to one of the top Medicare experts in the country, Danielle Roberts, from Boomer Benefits.  Medigap and Medicare Advantage plans There is a difference between traditional Medigap plans and newer Medicare Advantage plans. Medigap plans are generally more expensive but they offer more flexibility and a wider variety of plan choices. Medicare Advantage plans cost less and sometimes they are even free, however, these plans come with many more limitations. These plans are gaining popularity over the past few years. Listen to Danielle’s expert analysis of these different types of plans to help you decide the best way to supplement your Medicare coverage.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT’S THAT MEAN? [1:48] What is a gap? PRACTICAL PLANNING SEGMENT [6:43] Check out Danielle’s new book! [8:22] How does Medigap insurance work? [14:29] What you need to consider when choosing a Medigap provider [19:08] What do Medigap plans cost? [25:30] What is a Medicare Advantage plan? [31:16] How does Medicare work while traveling? Q&A SEGMENT [35:25] You could lose your coverage if you are still working [36:52] A Roth 401K question TODAY’S SMART SPRINT SEGMENT [45:49] Let me know if you are experiencing challenges in unexpected retirement Resources Mentioned In This Episode BOOK - 10 Costly Medicare Mistakes You Can’t Afford to Make by Danielle Roberts Boomer Benefits Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

I cannot believe that this is our first time doing a monthlong series on Medicare! Thankfully, this is a five-week month, so we can really dive deep into this complex topic. Let me lay out the month for you. This week we’re talking about Medicare Part A and B. During the next episode we’ll discuss part D and all the things that Medicare doesn’t cover. Following that episode, we’ll discuss Medigap and Medicare Advantage as well as mistakes we can make with Medicare. Finally, we will dive in deep to help build a framework that we can use to best serve ourselves when it comes to Medicare. Are you ready to start your Medicare learning journey? Press play to start your Medicare education now.  How does Medicare work? Danielle K. Roberts is a Medicare expert from Boomer Benefits. She helps people educate people on their Medicare journey all the time and she has even helped out in the Rock Retirement Club. I have invited her on the show to help all of us better understand Medicare. Today she is helping us learn about Medicare Part A and B. Medicare benefits can be so confusing, especially since most of us are coming from a completely different system of insurance. Are you ready to hear what is covered, what is not covered, what requires copays, and if you can ever fully exhaust your benefits? Well then, start listening now. What is Medicare Part A? Medicare Part A started in the 1960s and was modeled after the old Blue Cross Blue Shield health insurance. Part A covers inpatient hospital stays and outpatient medical care related to a hospital stay. Included in Part A coverage are the hospital room, doctors, nurses, drugs, nursing facility visits, and hospice care. Medicare Part A does have its limits in coverage which could result in expensive copays and eventually exhausting the benefits fully. Listen in to find out what those limits are.  What is Part B? Whereas Medicare Part A covers your hospital stays, Part B covers all that other stuff. For example, Part B covers chemotherapy, radiation, blood work, and doctor visits. However, Part B has a completely different deductible and coinsurance setup than Part A. The good news is that the deductible is only $198. The bad news is that there is no cap on the 20% coinsurance.  Who do you pay?  Doctors’ visits can be so confusing. Should you pay the doctor at the time of your visit? Should you wait for the bill to come in the mail? What about those statements that Medicare sends? Danielle’s advice is to wait for Medicare to process the doctor’s bill before you pay. The doctor will then bill you if there are any excess fees. She also advises to ask plenty of questions and become an advocate for yourself. Even though Medicare can seem confusing at first, this system has been in place for a long time and actually runs quite well.  If you are interested in receiving resources to help you make your own Medicare decisions, sign up for 6-Shot Saturday at RogerWhitney.com OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:13] What is fear? PRACTICAL PLANNING SEGMENT [5:05] Our plan for the month [7:14] What is Medicare Part A? [11:30] What should people be aware of? [13:32] What is Part B? [16:12] Who do I pay? Q&A SEGMENT [26:58] Place yourself in the future when making a decision [31:02] A Social Security survivor benefit question [33:34] Comparing a first position HELOC instead of a mortgage TODAY’S SMART SPRINT SEGMENT [43:09] Sign up for 6-Shot Saturday at RogerWhitney.com to get a Medicare resource packet Resources Mentioned In This Episode Boomer Benefits MyMedicare.gov Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

We started a new Q&A Segment, Let us know what you think! God Bless!--- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

By now you know how important estate planning is in retirement. But what is also important is to organize and communicate your wishes to your loved ones. In this episode, you’ll learn how to organize and communicate your estate planning wishes. We’ll chat with Sarah Bunnell from Everplans who will let you know how and why organization and communication are so important. Listen in to hear her expert take on these matters. And make sure you are signed up for the 6-Shot Saturday email so that you can receive an essential document checklist.  An estate plan that is not organized or communicated correctly misses the point Let’s say that you have just finished your estate plan. Congratulations on putting that all together! Now that you have completed this first step it is imperative that you take that next step and communicate your wishes to your loved ones. Once you get your financial assets and legal records organized then you’ll want to ensure that your loved ones know about them. The probate process is very involved so the more information that you can give them now will save them time and worry during an already stressful period.  Who should you communicate your estate plan to? Once you get your estate plan set up you’ll need to think about who you want to share it with. Do you have a trusted financial advisor? A CPA? An attorney? Who will be your point person? You’ll also want to make sure that you tell more than one person in your family. What would happen then if the family member that has all the information was involved in an accident with you? If you are single you’ll also want to consider who your trusted team may be.  What about organizing your digital life? Almost everybody knows that you should have a will and a medical directive. But what about your digital estate? How will your family access your digital files? Is your digital estate a mess? In these modern times of paperless statements, your heirs may not know what kind of accounts, insurance policies, or even properties you own. Without the passwords to the myriad online accounts, they won’t be able to make the payments or changes that they need to in the event of your passing.  A bit about Everplans Everplans is an online digital vault that we use in the Rock Retirement Club. This online organizational tool stores all the estate information you would need to have organized. Everplans allows you to share information on a piece by piece basis either now or after death to the important people in your life. You can store funeral plans, wills, trusts, financial statements, even recipes, and videos. Learn more about Everplans and organizing and communicating your estate plan on this episode of Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?  [1:50] What is an emergency plan? PRACTICAL PLANNING SEGMENT [4:18] Why is the organization of your financial assets and legal records so important? [6:50] What are the essential elements of an organized estate plan? [14:30] How important is it to organize [19:45] A bit about Everplans  Q&A SEGMENT [26:10] You can do qualified charitable distributions at age 70.5 [28:08] A state pension offset question [29:38] Baby boomers retiring and taking money out of the market [33:21] What did I end up doing for medical insurance? TODAY’S SMART SPRINT SEGMENT [39:20] Lessen the impact of loneliness in the pandemic by calling a loved one Resources Mentioned In This Episode EverPlans.com Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

We all have cognitive biases that we have to account for when retirement planning. Although we can never shed ourselves of these biases we can manage them. In this episode of Retirement Answer Man, we continue to explore behavioral finance and how it affects retirement planning. Our minds like to play tricks on us and prevent us from making rational decisions. Listen to this episode to learn how to be aware of those tricks and overcome them so that you can rock retirement.  What does bias mean?  Before we further explore the subject of the cognitive bias we need to have a clear understanding of the term. Bias means that we prefer one side over the other. We all have our preferences for certain things, sometimes we aren’t even aware of them. Cognitive bias is a systematic error in thinking when people are processing or interpreting information. Cognitive bias can affect our judgment. It is especially important in finance to be aware of these errors in thinking. The biggest obstacle to rocking retirement is a cognitive bias.  These 7 types of cognitive bias can impact your retirement planning There are several different types of cognitive biases that can affect our decision making and impede our judgment.  Confirmation bias is when we look for information to support our conclusions rather than looking at all the arguments in an objective way. Our minds are often overloaded with information and use confirmation bias to make decisions easier. Confirmation bias provides the mind with a quick shortcut to come to an answer that you already ‘know’ to be true. Loss aversion explains people’s tendency to avoid loss rather than seek a gain. Psychologically the pain we feel when we lose outweighs the joy we feel when we gain.  Oversimplification tendency helps us to find simple explanations for complex matters. Retirement planning is one of those complex problems. It takes a lot of energy to think out complex solutions to complicated issues. We love those rules of thumb to help us simplify matters, but the truth is we need to seek to understand the complexity. Only then can we discover the elegant simplicity of our own unique retirement plan.  Memory bias impairs us from understanding past lessons. Instead of looking back in the long-term, we look to more recent decisions to guide our plans.  Recency bias is similar to memory bias. Recency bias is the reason most people buy high and sell low even though they ‘know better’. When the markets are up we become more optimistic about life.  Information bias brings out our tendency to continually seek out information even when it doesn’t affect the action. It becomes a way of procrastinating to delay making decisions. Parkinson’s law of triviality means that we spend more time focusing on trivial details rather than the important issues at hand.  Good investments plus good behavioral habits will help you rock retirement The worst part about these biases is we don’t even realize that we have them. The first step in overcoming a problem is to realize that the problem exists. None of us have this retirement thing all figured out. But if you can create good behavioral habits and pair those with good investments you will rock retirement. Be sure to tune in next week to learn how to create a framework to manage your cognitive biases and become a better critical thinker. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT [1:52] Check out the Grandpad to stay in touch with elderly family members WHAT DOES THAT MEAN SEGMENT [4:35] What does bias mean? PRACTICAL PLANNING SEGMENT [6:40] You have so much information coming to you [13:43] The goal of retirement planning is to find the elegant simplicity [16:48] We become optimistic when the markets is doing well [21:21] Good investments plus good behavioral habits can help you rock retirement Q&A SEGMENT [23:44] What can you expect to pay as an individual for Medicare? [26:55] The number of publicly traded companies has declined over the past few years [34:10] Be cautious of booking travel due to the potential of travel company bankruptcies TODAY’S SMART SPRINT SEGMENT [35:40] Examine a past investment decision you have made to look for one of these biases  Resources Mentioned In This Episode Grandpad Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Life planning is one of the hardest things about retirement. Deciding when to retire can be challenging and is a decision based on more than just money. There are various types of mind tricks that we play on ourselves to talk ourselves out of making life big changes. In this episode of Retirement Answer Man, we continue the behavioral finance series by taking an in-depth look at rational decision making. Come join me to learn how you can make more rational decisions so that you can rock retirement. Our biases often get in the way of our life planning There’s a difference between being rational and rationalizing. We, humans, tend to choose the latter. Our minds often play tricks on us. Instead of making simple choices, we tend to complicate things by letting our biases get in the way. We use different types of biases like status quo bias, anchoring bias, information bias, and sunk cost fallacy to guide our decisions.  Many times you know that change is coming, you can see it a mile away, but you still have a hard time navigating that change. Retirement is one of those changes. You have been preparing for it all of your life, but leaving the safety of what is known and what is easy can be hard to do. Don’t let yourself get lulled into the status quo. Has anchoring bias got you stuck in the same place? Anchoring bias is another common bias seen in retirement. People often don’t know how to live a life without constraints so they simply choose to stay in place. They choose not to see the myriad possibilities that are out there. Embrace the total freedom of retirement by exploring all of your options. Listen in to hear an interesting parable to help you understand all the opportunities you have waiting for you on the other side of retirement Are you waiting for more information? Other people are always seeking information to guide their choices. While making informed decisions is important, some keep delaying their decision to retire due to their lack of information. They think that once they have all the information they will finally be able to pull the trigger and retire. But the reality is, we will never have all the information. There is always a gap between the known and the unknown.  Do you want to create memories or regrets? The sunk cost fallacy is another way people tend to rationalize themselves out of making good decisions. At your age, you have a lot of sunk costs. Don’t let those get in the way of living your life to its fullest.  In the Rock Retirement Club, one of the first things that we discuss with new members is the 5 most common regrets from people on their death beds. Those regrets are: I wish I had the courage to live a life true to myself. I wish I hadn’t worked so hard. I wish I had the courage to express my feelings. I wish I had stayed in touch with my friends. I wish I had allowed myself to be happier. You don’t want to die thinking about all of those things you wish you had done. Using rational thinking and consciously stepping away from your biases can help you live your life to its fullest so that you can look back at a life full of memories rather than regrets.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [1:58] The more difficult the decision the more likely you are to choose the status quo [9:02] Sunk cost fallacy can also influence our decisions Q&A SEGMENT [13:24] The transition from an employer-sponsored account to your money can be scary [17:20] Do you still need an emergency fund in retirement? [22:00] The difference between Medicare and Medicare Advantage [25:05] Concerns about municipal bonds  TODAY’S SMART SPRINT SEGMENT [31:37] Read Who Moved My Cheese? by Spencer Johnson Resources Mentioned In This Episode PODCAST - Retirement Starts Today with Benjamin Brandt BOOK - Who Moved My Cheese? by Spencer Johnson Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Attention Everyone!!! We have started a Q&A Segment on Tuesdays with Todd, where we take questions asked to either of us off Instagram and we jam talks back and forth on topics and questions brought up. All painted related and hopefully helpful to all. Enjoy and Happy Painting In todays EP we had a questions From @brisltedpatina, @wetpainted, and  @thahappypainter If you would like to have your question answered on a Podcast by either Todd Burwell or Myself, than pls send your questions to  toplinepsc@gmail.com or if on instagram at either @toddburwell or @topline_psc

Once again we are tackling your retirement assumptions on Retirement Answer Man. This week we’ll discuss market assumptions. You are modeling 30 years out, so the market assumptions that you make can easily overestimate or underestimate the amount of money you will need. What kind of market assumptions have you been making with your models?  What are capital market assumptions? Capital market assumptions are the assumptions that investment managers or asset allocation software use to design your pie chart. It will include what the expected returns are for the asset class. The factors include what the return assumption is, what the standard deviation is, and how each ingredient reacts with each other. We can refer to these factors as return - volatility - correlation. We try to manipulate these assumptions and put our own views on top of them. It is important to note that these are the components of your pie chart asset allocation forecast.  It’s different this time… We always think that this time is different. Each major crisis has been unique. The Great Recession of 2008 hit us all hard and changed paradigms. During The New Economy of the 90s, many threw caution to the wind because they just knew that returns were always going to be 20%. But this time is different, right? This pandemic, it’s personal. The safety of our families is at stake. You can’t leave your house. But this time just like all the rest one thing stays the same. It is difficult just to try and be reasonable.  What kind of historical market assumptions do you use to plan your retirement? Many people like to use the 10% number to plan their retirement model. But why do they choose 10%? Is it a nice round number? The last 5 years’ stock market returns were 7.7%. During the past 10 years, they were 15%. Over 50 years that number drops to 8.4%. And over 94 years it averages 10%. We often use these historical numbers in our models, but these numbers don’t factor in the lumpiness. These numbers vary wildly from year to year which is why linear models fall apart over time.  Find the answers to your retirement questions In our Q&A segment, you’ll hear the answers to questions like, should you consolidate all of your assets in one place? How should you rollover your pretax and post-tax dollars? How hard is it to get a mortgage in retirement (even if you have a pension)? Should you use withdrawal strategies in retirement? Listen in to the end to hear all of these questions answered on this episode of Retirement Answer Man.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?  [1:02] Capital market assumptions PRACTICAL PLANNING SEGMENT [2:50] It’s different this time… [7:05] What are your assumptions that the stock market will do going forward? [10:32] It is easy to overestimate the viability of your plan Q&A SEGMENT [19:15] Should you consolidate all of your assets in one place? [23:30] Is qualifying for a mortgage in retirement challenging with a pension? [29:16] Should you use withdrawal strategies in retirement? TODAY’S SMART SPRINT SEGMENT [31:20] Reexamine your market and inflation assumptions Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

One of the biggest assumptions you can make in retirement is in your spending. Spending is one of the greatest financial pieces of retirement planning. On this episode, we’re talking about spending. How do you track your spending? How do you know how much you will spend in retirement? Will your spending change after you retire? Listen in to hear how to break free from your retirement assumptions so that you can not just survive retirement but rock retirement.  Americans want to keep working remotely American views are changing amid this Corona disruption. According to a recent study done by IBM, 54% of Americans would like to continue working from home and 70% would like to retain the option to work at home. Major events like the one we are experiencing accelerate social trends. We are all learning a new rhythm of life and many of us like it. If you are enjoying working from home it’s time to consider, what does this make possible? Would working from home give you access to more time freedom? Would it cut down on your wardrobe and commuting costs? Listen in to brainstorm with me how you can use this new trend to perhaps extend your working life.  You can’t rely on averages to plan your own spending There is a rule of thumb in retirement spending. People who make close to $50,000 per year spend about 70-80% of that in retirement. But conversely, as your wages go up your retirement spending goes down. Those making over $100,000 per year spend only about 55% of that in retirement. Another generalization about spending in retirement is household spending by age group. People under 55 spend about $57,000 per year. Ages 55-64 spend approximately $59,000 each year. But then the numbers begin to go down once people reach ages 65-74. This demographic spends $47,000 and finally those in their golden years who are 75 and older only spend $35-37,000 per year.  We can look at averages and facts and figures all day long but they don’t mean anything. These averages aren’t yours. The data is a good place holder to use as you plan far into the future but in the short-term, the only figures you should be concerned with are your own. We all have different categories of spending Everyone has different ideas about what essential spending entails. I like to customize retirement spending into 3 categories: needs, wants, and wishes. Obviously the needs category includes food, clothing, shelter, and healthcare. But it is important to include a bit more than the basic rice and bean budget. Your needs category is your firewall. You want to make sure that you can really live your life on this level. The wants category may include more travel and discretionary spending. The wishes category is where you get to dream big. I encourage you to create different retirement budgets based on these 3 categories.  Two ways to estimate your budget There are two approaches to create a retirement budget. If you are still a way out from retirement, one easy way to project your spending is to do a top-down budget. A top-down budget is where you estimate all of your income sources and then subtract the money you save. This will give you a ballpark figure for your current budget.  As you get closer to retirement you’ll want to create a more accurate model. You can do this by forming a bottom-up budget. This is where you will get a real handle on each category of your spending. This type of budget takes a lot of work, but it’s important to be as accurate as you can as you approach retirement.  One way you can really dial in your budget is to live on your projections for a year and see how that works for you.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT [1:21] Americans want to keep working remotely PRACTICAL PLANNING SEGMENT [10:45] Spending assumptions [15:56] You can’t rely on averages to plan your own spending [17:20] Health care costs vary per age as well [23:45] We have different seasons of life [35:36] Healthcare assumptions [39:35] Two ways to estimate your budget Q&A SEGMENT [43:49] An asset dedication question [47:41] An IRMAA correction [49:02] RMD’s for 2020 TODAY’S SMART SPRINT SEGMENT [52:33] Revisit your retirement cost assumptions Resources Mentioned In This Episode Jasnon Aten’s article in Ink magazine Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center  

 What retirement assumptions do you have? In retirement planning, we rely on assumptions for just about everything. This may seem like a small thing, but this topic is so big that we are taking the whole month of May to talk about it. Today we tackle the life assumptions: how much you plan to spend, how long you plan to work, how long you think you’ll live. Join me as we consider the different assumptions we all make when planning for retirement.  What is an assumption?  Your assumptions are your windows on the world. An assumption means assuming something is true, taking it for granted. In retirement planning, we must make assumptions. Assumptions must be made to plug into the models. We assume for inflation, spending, costs, markets, longevity, and health. As you plug these numbers in, the range of potential outcomes gets wider and wider the farther out you project. And often in retirement planning, we plan as far as 40 years out. You can never get the assumptions just right but you can try to get as close as possible. We often have incorrect assumptions about how we will spend money We need to make assumptions about how we will live in retirement to be able to plan accordingly. One of the biggest inputs into the retirement plan is spending rhythm. Many people assume that they will continue to spend in retirement as they do now. But retirement spending is lumpy. It doesn’t have an even flow. In the go-go years at the beginning of retirement, we often spend a lot, then that spending slows down as life slows down. It’s hard to imagine yourself at age 70 or 80. But try to think about how you’ll be living your life at that age.  We assume that retirement is like turning off a light switch One day we’re working and then the next day we stop. Right? Wrong. Retirement doesn’t have to be that way. Most people actually work for a period of time in retirement. You can take that light switch and make it a dimmer switch. If you are willing to rethink work and rethink income then you can still work and have the time freedom that you seek. You can choose pretirement and slowly But oftentimes it’s not that way. And it doesn’t have to be that way.  How will longevity affect your plans? Be careful with statistics, they can fool you. We often look to statistics to plan our longevity outlook. But your health is not average and it’s not based on statistics. You need a more personalized plan. Consider where you really fall on the longevity timeline based on health, fitness, and family history. We also often assume that our mental capacity will remain the same. You may want to factor in some kinds of systems to help keep your finances running smoothly if your mental function begins to diminish. These aren’t things we have fun thinking about but they are important.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT’S THAT MEAN SEGMENT [2:54] What is an assumption? PRACTICAL PLANNING SEGMENT [6:00] We often have incorrect assumptions about how we will spend money [10:02] We assume that retirement is like turning off a light switch [14:32] Is your plan dependent upon you working in retirement?  [17:07] Will helping your kids impair your retirement plans? [18:38] How will longevity affect your plans? [23:44] You also need to consider your mental capacity [26:02] Consider your assets Q&A SEGMENT [29:20] A super backdoor Roth question Resources Mentioned In This Episode John Hancock longevity calculator Nova Article by Kate Becker Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center  

Beachwalker, the rockin’ retirement coach is in the house today. He joins us once a month on the show to give some helpful tips on how to create an awesome retirement. Today we’re talking about attitude. Attitude makes a huge impact on your retirement, your health, and even your longevity. Listen in to hear how a positive attitude can affect your life and stick around for the Q & A segment to hear the answers to questions you didn’t even know you had.  Attitude isn’t everything, but... It’s a huge component of rocking retirement. Attitude is an important determinant of the quality of your life now and it will be so even more in retirement. The definition of attitude is a settled feeling about someone or something that is reflected in behavior. So what comes first the chicken or the egg - a great retirement or a positive attitude? What do you think? Attitude has an even bigger factor on longevity than your health People are living so much longer than they used to. 80 is the new 60. With this newfound longevity, it’s important to create a positive mindset. You can’t let every ache and pain get you down, find a way to deal with that so you can move on and make the best of your life. Studies have shown that a positive attitude impacts your balance, your mental health, and even your longevity. Aging is inevitable, being old is a choice.  Robo advisors and target-date funds in retirement If you are young and accumulating your savings, target-date funds are totally fine (even though I like allocation funds better). And robo advisors are able to put your portfolio on autopilot by automatically rebalancing whenever you need it. But these tools are not set up for managing your assets in or nearing retirement. In retirement, they can lead you astray since they are not geared for distribution.  How do you determine whether to take a lump sum or an annuity? Choosing between taking a pension or a lump sum is a tough call. There are many factors to consider. One factor you should think about is what other assets do you have? A pension offers flexibility if you have other assets in place. But if you are underfunded for retirement taking a lump sum would create investment risk at a time when you need to have guaranteed income sources. When planning for retirement, I like to first create a process, then a strategy, and lastly, I choose the tactics to use. You can create your own model at home using your own process, strategy, and tactics. Try modeling both choices and see where you end up.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN SEGMENT [3:00] Attitude isn’t everything COACHES CORNER SEGMENT [5:22] People who have a more positive perception of aging live longer Q&A SEGMENT [10:30] Robo advisors and target-date funds in retirement [12:43] Why isn’t catastrophic long-term care a thing? [14:30] Lump sum or annuity? TODAY’S SMART SPRINT SEGMENT [19:27] Ask yourself, what does this make possible? Resources Mentioned In This Episode BOOK - Younger Next Year by Dr. Henry Lodge Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Retirement planning will never be the same. Actually there are many aspects of our lives that will never be the same. The Coronavirus disruption has been exactly that, a disruption of our everyday lives. It has affected everything from education, to work life, to retirement planning. Find out how staying intentional and agile will help you rock retirement on this episode of Retirement Answer Man.  Disruption causes trends to accelerate Normally we see new trends happening but they take time to really take root. But once some kind of disruption takes hold those trends begin to accelerate. Remote working and online learning were two trends that were coming along in the world but they never really took hold until the Coronavirus disruption. These two trends have been fueled by this disruption and education and the workspace will never be the same.  How do you define retirement? If you look retirement up in the dictionary it can mean several things. But none of those ring true for most people in the various stages of retirement planning. We all have our own definitions, our own versions of how we want to spend our golden years. Many of us feel that the most important thing to consider in retirement is time freedom. We want to have control over our own schedules. Plenty of people want to continue to work, but for a different purpose. The compensation may not be the same. Instead, they choose to work to give or to make an impact in the world. So what does retirement mean to you? 5 ways retirement planning is changing School and work aren’t the only aspects of life that are changing. Retirement planning is changing as well. This field has its own trends that will be accelerated by the Coronavirus disruption as well. Here are 5 trends that I see changing retirement planning. I think we were all starting to value experiences over things and that will continue to accelerate when all this is said and done.  Retirement planning generally starts out as a mathematical formula and we often forget life outcomes. I think retirement planning will become less investment-focused, and more focused on creating the outcomes that are right for you.  Matching our assets with our liabilities will increase in importance in retirement. This is what retirement planning actually is. People will become more focused on short-term volatility risk and may forget about long-term inflation risk and decreased buying power. Since inflation has been so low for so long we frequently ignore its risk.  Pretirement will boom. Pretirement is an excellent bridge between full-time work and retirement. It doesn’t just give you cash flow in retirement it also gives you: Time freedom A purpose or something that interests you A way to help mentally ease into retirement A transition in your social network Agency and a sense of power  What trends do you think might accelerate from all of this? Let me know by responding to the 6 Shot Saturday email.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT [0:40] Disruption causes trends to accelerate WHAT DOES THAT MEAN? [3:20] What does retirement mean? PRACTICAL PLANNING SEGMENT [5:35] 5 trends in retirement planning Q&A SEGMENT [20:28] How should Mitchell roll his pension so that he doesn’t get taxed for the lump sum? [22:00] What kind of stress tests can we do to prepare for retirement? [25:38] How to prioritize what’s important in stressful times [30:28] How to pursue a second act TODAY’S SMART SPRINT SEGMENT [33:24] What can you do to treat yourself? Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

So, we’re not in a recession yet, but these are definitely challenging times. Now is a great time to learn how to navigate a recession in retirement. A recession is a temporary economic decline with a fall in the gross domestic product over successive quarters. Although we technically aren’t in a recession right now, we can stay agile by preparing ourselves for what is to come. Join me today to learn how you can navigate a recession in retirement. You’ll learn 6 areas in which you can play offense or defense to help you be prepared for what may lie ahead.  6 areas of defense or offense to prepare yourself for a recession in retirement Maintain a mental edge - What do you do to stay mentally agile? Self-care is so important during challenging times. Exercise and journaling are 2 great ways to practice self-care. Find a healthy way to vent if you need to let off steam. It’s also important to limit the news you watch and avoid the bait of commercials and sales pitches. Be careful with those sales pitches, everyone is trying to take advantage of the situation to make a buck.  Evaluate what is important to you - Right now we are experiencing unprecedented times where we have an opportunity to really think about what is important to us. So give it some thought. What are your life goals? What is important to your life?  Consider your cash flow - Another opportunity presents itself to stress test your retirement plan. Review your liquidity. Do you have enough laid out in cash reserves? Take this time to evaluate the sustainability of your retirement plan. Build a cash floor, moderate your wants and wishes Look for opportunities - Since interest rates are at an all-time low, consider refinancing your mortgage. Now is also a great time to find flexible travel deals look for travel deals.  Examine your portfolio - This is a good time to simplify your investments in a tax-efficient way. Examine your asset allocation. Is your portfolio doing what you expected? You don’t need to take action right now if you want to change, just make a note of it for better times. Examine your risk tolerance. We’re used to riding risk while accumulating assets, not while we’re in the decumulation stage of life. You also have an opportunity to do some tax planning this year. You may be able to take advantage of tax loss harvesting. Also consider whether it makes sense to do some Roth conversions.  Help the family - Now is a great time to gift shares of stock or cash. Many people are experiencing challenging times with job losses. Remember you can gift $15,000 per person. You could also consider making an interfamily loan to someone who just needs help weathering this storm. These loans have no requirements other than you must charge a minimum applicable interest rate which is low right now.  How will you stay agile? You may never be 100% prepared for a recession in retirement, but you can be agile. Think about the ways you can maneuver and look for opportunities. Although it is important to consider how to defend your assets it’s also important to stay on your toes and be proactive. So what will you do to stay agile in the coming weeks and months? OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [2:00] What is a recession? PRACTICAL PLANNING SEGMENT [3:22] 6 areas to help you navigate a recession  THE Q&A SEGMENT [24:30] Where should you invest a chunk of money? [28:40] Evaluate the things you own [31:55] How to best utilize tax brackets [34:33] No one knows how to file for unemployment as a contract worker TODAY’S SMART SPRINT SEGMENT [38:00] Do something to manage your stress and anxiety Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Choosing where to live in retirement can seem daunting to some and exhilarating to others. On this final episode of the Where to Live in Retirement series, we hope to teach you how to take steps to navigate a transition to create the retirement and the life that you really want. If you listen to this show that means that you are preparing to rock retirement. Listen in to this episode to hear how to take intentional action to plan where you really want to be in retirement.  Let’s acknowledge the crazy things going on We can’t begin this episode without acknowledging the crazy life-changing events that are happening all around us as we live through this Coronavirus disruption. I have talked to so many worried people in the past few weeks; clients, Rock Retirement Club members, and listeners who are all concerned about the effects of the Coronavirus. They want to know what they can do to mitigate the financial damage. To address everyone’s concerns, share tips, and answer questions, I’m hosting a town hall tomorrow 3/26 at 7 pm central. You can sign up for this webinar at my website: rogerwhitney.com just click the ad at the top of the page to register.  How to avoid bad decisions during the Coronavirus disruption Stop! Don’t do that! It’s important that you don’t make large, rash decisions in the middle of a crisis. Unfortunately, the Coronavirus has disrupted many aspects of our lives. Although you shouldn’t make big decisions at this time, you can take small actions. Cut some discretionary expenses, have a positive attitude, bring in some extra income. Most importantly, ask yourself what does this make possible? Find out what is possible during this challenging time and lean into it.  Open your mind to the possibilities of where to live in retirement How to begin to decide where to live in retirement? First of all, you need to open your mind to the myriad possibilities. The world is your oyster. Where can you envision yourself living? Try this exercise separately from your spouse. Have a seat and write down 3 places to live or even styles of living that you would enjoy. List the pros and cons of living in each place. Then each of you can present them to each other. This is an exercise in healthy communication.  How can you have the best of both worlds? You and your spouse may not have the same lifestyles or places written on your list of places to live. Think about how you can have the best of both worlds. Could you rent a place a few months out of the year? Buy a second home? It’s important that both of you make your voice heard. Think about the creative ways that you can live your ideal retirement. Listen in to hear how you can navigate the transition into retirement and decide where to live. You’ll also hear listener questions that could help you up your retirement game.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN COACHES CORNER [3:30] Open your mind to possibilities [7:45] How to avoid bad decisions Q&A SEGMENT [12:10] How to verify expense ratios? [15:24] Should he track information in a spreadsheet? [19:35] Cash value or pension? [20:34] An unusual retirement plan TODAY’S SMART SPRINT SEGMENT [28:58] Realize you have choices to create the type of environment you want Resources Mentioned In This Episode Dan Crosby Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Over the past several episodes we have been discussing how to decide where to live in retirement. After listening to the previous episodes in this series, you have been able to acknowledge your own status quo and build a framework to decide the kind of place that you want to live in retirement. Now is the time to experiment and decide what makes the most sense for you and your situation. Listen in to hear different ways you can experiment and choose the right place to retire. Is the grass really greener somewhere else? All this talk of packing up and moving can get you ready to pack your bags and drive across the country to start a new life. But before you do that, think about if that is what you really want. Our thought experiment is really meant to get you thinking. So now examine where you are right now. What would happen if you decluttered the house or even remodeled it? Would it feel more liveable? What if you reexplored your own city? Check out the museums, parks, and trail systems. You may find there is more to love than you thought.  How to experiment and decide where to live in retirement How do you know where to even begin? Deciding the right place to retire can seem like a daunting task, but just like any other research project, you can start with the internet. Think about the aspects of a place that are important to you to get a profile of what you are looking for. Country or city? Beach or mountains? North or south? You’ll also want to think about factors such as affordability, proximity to airports and family.  Keep your ear to the ground Once you find a place that intrigues you start chatting with friends and colleagues about that location. Keep your ears open and you’ll hear plenty about that place. Another way to investigate places to live in retirement is to test the waters. Use your vacations to explore the places you are thinking of. Instead of buying a new place right away consider renting for a year to see if it’s somewhere that really suits your needs.  Test the waters Remember the whole point of this exercise is to have you analyze your status quo to see if it will still fit your desires in retirement. After doing this you may find that you are exactly where you want to be. So build your framework and put it to the test. Test the waters to see what may work for you. Continue to flush out your living profile to research and experiment on where you are thinking of settling. Try booking a vacation there or testing the waters. This will help you decide what is right for you.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [2:00] What is huzzah? PRACTICAL PLANNING SEGMENT [3:00] Is the grass really greener somewhere else? [7:44] How do you research and explore [11:45] How these decisions are made in my home Q&A SEGMENT [17:45] How to evaluate when you will be ready to retire [25:35] Should you hold onto a stock? [30:55] How to protect yourself against identity theft when working with a planner? TODAY’S SMART SPRINT SEGMENT [38:15] Continue to flush out your profile to research and experiment Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Creating an ideal living profile will help you build a vision of your retirement. On the Where to Live in Retirement series, we’re not giving you a list of top places to retire, instead, you will learn how to build a framework to help you understand where is the right place for you. On this episode, you’ll consider questions to ask yourself and your spouse to create the ideal living profile for your retirement. Listen in to learn how to build a vision of what you want your retirement environment to look like. Would you move across the country if it meant you could retire 2 years early?  Moving can often lead to a completely different lifestyle. If you live somewhere with a high cost of living then moving to a state with a lower cost of living could completely change when and how you retire. Some people are completely happy with where they live and even identify with that place, and if that is you, then great! But for those that may be considering a change, make your decision intentionally. Don’t base your choices on the status quo. Consider your right answer.  How to create your retirement living profile How do you feel about your living environment? Our living environment sets us up for success and happiness. To create an ideal living profile there are many things that you can consider. Consider the climate. Do you like consistency or do you like change? Are you someone that wants to see the seasons change or would you prefer warmer weather all year long? Would you prefer to live in the city, suburbia, or out in the country? Would you enjoy the conveniences of a planned community? What kind of amenities do you like to be near? Listen in to hear what you should consider when creating your ideal living profile.  What tools can you use to create your ideal living profile for retirement? Now that you know what kind of questions to ask yourself, it’s time to actually build your living profile. There are many different ways that you can do this. One way is to create a vision board. A vision board is a way to use pictures, words, and ideas and arrange them in a visual way. You could also use a mind map to help you create your retirement living profile. I use a mind mapping app called Mind Node that helps me create mind maps. Make sure you’re signed up for 6 Shot Saturday to receive a mind map example.  Create a conversation When considering where to live in retirement it is important to check your status quo at the door. As you work through this exercise of creating your living profile make sure to do it separately from your spouse. Define what is important to you individually. After you have both created your living profiles you can use them to spark an ongoing conversation. You want to make sure that both of you express your feelings. Use this exercise as your Smart Sprint this week and start the conversation with your spouse. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:40] What is a bond ladder? PRACTICAL PLANNING SEGMENT [3:38] Would you move across the country if it meant you could retire 2 years early? [7:07] How to create a living profile [15:44] What are some tools you can use to create your living profile? [19:42] Next week: how do you experiment with your decision? Q&A SEGMENT [21:50] Roth conversions and making use of your tax brackets [27:15] What are the pros and cons of using a bond fund vs. using a bond ladder? [31:15] Target-date funds TODAY’S SMART SPRINT SEGMENT [35:06] Start thinking about the environment where you want to retire  Resources Mentioned In This Episode The Pie Cake episode Mind Node Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Retirement is one of those life changes that gives you the opportunity to reevaluate and set yourself up for the next stage of life. On this monthlong Retirement Answer Man Series, we’re going to think about how to decide where to live in retirement. This will not be a list of the top ten places to go, but instead, I want to help you build a framework to weigh your decisions. In this episode, we’ll get you thinking about your own status quo so you can evaluate whether it’s right for you. Listen in with an open mind and really think about whether your in the right place or if you’re just comfortable.  The Coronavirus and market corrections I can’t sit by and ignore the recent market correction due to the Coronavirus. The whole situation can seem scary, While I can’t assess the health risk of the illness, I can discuss the market risks. Nobody knows how this event will slow down our economic system overall or how it will affect the profits, growth, and earnings of individual stocks. What you can do is consider whether you have the right structure in place. If you have done your planning then you need to sit down and remember that the money you have in the market right now won’t be touched for 5+ years. Relax and remember that this too shall pass.  Are you getting trapped by what is? The status quo can be quite comfortable. But instead of sitting back and letting life pass you by you can use the status quo as a baseline to help you consider what could be. How did you come to live where you do? Think about what that journey was like. Have you lived there long? What ties you there now? Retirement is a unique time in life where you don’t have the ties of work or kids to influence where you should live. Acknowledge your status quo but don’t simply accept that life must remain the same. Consider whether a change would improve your life.  What are the pros and cons of selling stock by specific shares? I recently got a great question about selling individual stocks by specific shares to manage one’s tax bracket. If you are looking to manage your tax bracket when selling stocks that were bought at different periods of time then it’s a good idea to do multi-year tax projections. Think about what your spending will be like and what your income will be. Where will you obtain that income? What will your tax bracket be? Map it out and model it. Listen in to hear the full explanation of how you should handle selling stocks by specific shares.  What can average people do about long-term care? Another listener sees long-term care insurance as a luxury since prices range from $3000-$7000 per year. He is wondering what people with average incomes can do to help with long-term care. Unfortunately, there is no good answer. First off you need to really consider if it is a luxury for you. Can you exchange a different expense like life insurance for long-term care insurance? Is there a way you can mitigate the odds and make some lifestyle changes? You’ll also need to begin discussing this issue with your family. Find out why having this discussion sooner rather than later is important by listening to this episode of Retirement Answer Man.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT [2:53] The Coronavirus and the markets WHAT DOES THAT MEAN SEGMENT [10:00] What is status quo bias PRACTICAL PLANNING SEGMENT [11:02] How did you come to live where you do? THE Q & A SEGMENT [17:08] What are the pros and cons of selling stock by specific shares? [23:50] Buying long-term care is a luxury, what can average people do? [27:55] The goal is to not use long-term care insurance TODAY’S SMART SPRINT SEGMENT [29:44] Start having this conversation about where to live with your spouse Resources Mentioned In This Episode Ask me a question! - RogerWhitney.com/AskRoger Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

We are a little over halfway through the Premier League season so we will be able to discuss the season to date. It’s a great time to come back from a few weeks off since the schedule has been jam-packed. It's a perfect time to relax and take in all the games! Let’s take a look back at all the great moments from the first half. Also some predictions on how the Golden Boot race will shake out, Top 4 finishers, MVP of the league and Coach of the Year. Never a dull moment in the world of soccer as we dive into the hot topics being talked about right now. Next, we will preview Week 22 of the Premier League coming up this weekend. Tottenham will play Liverpool in the marquee matchup. Can Tottenham be successful without the injured Harry Kane? Watford comes into the weekend after winning 3 of their last 4 matches. Can new manager Nigel Pearson take Watford out of relegation? Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice!

Its the most wonderful day of the Premier League season, Boxing Day! There will be games going on all day with some really great matchups. Two new managerial debuts for Everton and Arsenal as Mikel Arteta as well as Carlo Ancelotti are in charge respectively. Is Carlo Ancelotti the right fit at Everton? Or should they stuck with Big Duncan Ferguson?Also a huge match featuring Leicester City v Liverpool. Will anybody be able to catch Liverpool? Can Jamie Vardy continue his great form and lead the Foxes to a big victory? Another big one would be Wolves v Manchester City. Wolves already beat the Citizens earlier this season. Can they do it again? Finally we see Racism becoming an every week thing. This time it took place at Tottenham were some fans made some racists chants towards Chelsea's Antonio Rudiger. Do you think Chelsea should have just walked off the pitch and postponed the match? Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice! Never a dull moment in the world of soccer!

A very special episode on a Matchday Saturday! Our first show where we can watch the games as they are going on live! Tons to talk about since the last episode with Marco Silva getting fired from Everton, Arsenal gets a new manager, former Manchester City assistant coach Mikel Arteta. Can Arteta turn Arsenal’s season around and get them into the Top 6? Also, Manchester City faces off against Leicester City in a battle for 2nd. Last but certainly not least, Tottenham square off against Chelsea in a Jose Mourinho revenge game! Can “The Special One” beat his old Chelsea squad and jump into the Top 4? The show wouldn’t be the show if we didn’t take a look at any hot topics around the world. Racism continues to be an issue in Italy so we will dive into that discussion. Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice! Never a dull moment in the world of soccer!

The boys start the show discussing the Premier League Week 14. Manchester City saw their push for the top spot take another hit as they drop more points drawing Newcastle 2-2 in a thrilling match. Chelsea had a rare setback at home losing to a struggling West Ham United squad 1-0. Can Frank Lampard get the lads up and ready for their clash against Aston Villa on Wednesday? Jose Mourinho continues to get Tottenham ready to play as they extend their unbeaten streak to 3 beating Bournemouth 3-2. Can Jose Mourinho take Tottenham to a Top 4 finish this year? We take a whip around the world and discuss any hot topics in the world of soccer. Next, we will preview the Premier League Week 15 which takes place midweek! Also a live look-in at the Burnley v Manchester City match going on during the show! Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice! Never a dull moment in the world of soccer!

The boys start the show discussing the Premier League Week 13. Manchester City had a huge win over Chelsea 2-1 on Saturday. The young Chelsea started great but the more experienced City team was able to pull it out in the end. Tottenham got their first win for new manager Jose Mourinho. Can he get this team into the Top 6? Arsenal and Everton both had poor results. Which of the two managers will be the first to get fired? Also Manchester United and Sheffield played a great match which resulted in a 3-3 draw. Always drama surrounding Paul Pogba as he refused to play in the game Sunday. Will Man United be able to sell him in January? West Ham United haven’t won in 7 matches now. Will they be relegated this season? Next, the USMNT beat Cuba last Tuesday 4-0. How do you feel about the team going into 2020? Then we preview Week 14 in the Premier League. Always exciting moments each week! Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice! Never a dull moment in the world of soccer!

Ws start the show talking about the US Men’s National Team win over Canada 4-1 on Friday night. The boys started strong with two early goals, played some great team defense and controlled possession for most of the match. How do you feel moving forward with this team? Can they get back to the 2014 form? They battle Cuba later tonight in Havana. How many goals can they put up? Six was the magic number last time these two teams played. Next, we will touch on some of the hot topics around the world of soccer. Check-in with some of the top leagues in the world and see how everything is shaking up. Racism was again a topic of conversation this weekend (I know it's been happening a lot ) this time in Holland. Finally, we will preview Week 13 of the Premier League. Chelsea and Manchester City will headline this weekend's fixture. Can Chelsea keep it rolling and beat City? Will Christian Pulisic be healthy enough to play? Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice! Never a dull moment in the world of soccer!

Coming in hot after an upset-filled Week 12 in the English Premier League! Liverpool/Man City lived up to the hype as Liverpool punished Man City early and held on to a 3-1 win. Chelsea and Leicester continue their winning ways to jump Man City in the table. Newcastle, Everton, and Burnley get much-needed wins. Also, Watford finally won a damn game! MLS Cup final happened on Sunday as the Seattle Sounders were crowned champions with a 3-1 win over Toronto FC in front of 69,000 at Century Link Field! Next, with the international break upon us once again we talk about the upcoming games for the USMNT against Cuba and Canada. How will they fair without Captain America Christian Pulisic. Always a lively discussion talking about the hot mess that is the USMNT. Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice! Never a dull moment in the world of soccer!

We start out recapping an insane Week 11 of the PremierLeague. Leicester City keeps on winning convincingly. Liverpool gets put to the test and escape defeat! Manchester City keep pace with Liverpool, Captain America Christian Pulisic scored again in a Chelsea win, a nasty injury left Everton without Andre Silva for the foreseeable future and Watford still suck! Next, we finally have a Final set in the MLS with Seattle taking on Toronto FC coming up on Sunday 11/10. Who ya got?! We dive in-depth and take a look at each team. Racism was a big issue this weekend in Italy. Mario Balotelli threatened to leave the pitch when he was verbally assaulted by the opposing team's fans. When will it end? There is no place in this beautiful game for such horrible acts! Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice!

The boys start it off by breaking down an exciting Week 10 of the English Premier League then look ahead at the Week 11 fixtures. Both Leicester City and Chelsea get huge wins! Watford is still winless. Next, we recap the MLS Playoffs as the Philadelphia Union sees its season come to an end. The LA derby lived up to the hype! Also Toronto FC with a big upset win at NYCFC. Next, we will talk about any hot topics in the world of soccer in our Mixed Bag Segment. Sergino Dest chose the USMNT over the Netherlands this week. How big of an impact can he make? Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card- Yellow Card” segment which will have the lads put some people on notice!

Week 9 of the English Premier League then look ahead at the Week 10 fixtures. The USMNT lost to Canada for the first time in 30+ years, yikes! Qualifying for the World Cup starts next year so what can the USMNT do to improve? Is it the coach? Players? Also, the MLS Playoffs started this past weekend, Bryan and Adam were at the Union vs Red Bull match which went in Extra time! Looking ahead to the Union semi-final matchup vs Atlanta United on Thursday night and all the great matchups coming up. Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice!

A more in-depth look at the MLS Playoffs breaking down all the matchups. Bryan and Adam will be heading to Talen Energy Stadium on Sunday to watch the beloved Philadelphia Union take on the New York Red Bull in the first round of the playoffs. Going to be doing a lot of fun things from the stadium so stay tuned. Next, we will breakdown the USMNT win over Cuba and look ahead to Tuesday's showdown with Canada, eh? Finally the Week 9 Preview of the English Premier League (Thank god for its back). Plus the usual Q&A Segment with some hard-hitting questions answered live on air. To finish up the show we will have the “Red Card-Yellow Card” segment which will have the lads put some people on notice!

Week 8 of the English Premier League saw another huge upset as bottom table Wolves pull off a monumental upset over Manchester City. Watford continues to be winless this season while Liverpool remains undefeated grabbing 24 of a possible 24 points. Will Liverpool win the league by 10+ points? The hot take of Everton finishing in the Top 6 looks like a pipe dream thus far. Should Everton fire their manager Marco Silva? A full breakdown will then lead to the Q&A Segment and since this weekend coming up is an international break, the “Mixed Bag” will give a chance to discuss the US Men’s National Team as they have two matches coming up. Plus, a look at the MLS Playoff matchup between the Philadelphia Union/ New York Red Bull. To finish up the show we will debut the “Red Card-Yellow Card” segment which will have the lads put some people on notice!

Last night I shared the trailer for The Secret Garden remake which just dropped.  It is a visual feast for lovers of gardens everywhere. The new adaptation of the children's classic stars Colin Firth and Julie Walters and is set for release in April (2020). It looks fantastic.   The Secret Garden is a children's novel written by American author and gardener Frances Hodgson Burnett. It was first released in the early 1900's as a serial in The American Magazine.   The story is about a young girl, Mary Lennox, who was living in India with her wealthy British family. She is a spoiled, neglected little 10 year old girl. When cholera kills her parents, she is sent to England to live with a widowed uncle, Archibald Craven, at his huge Yorkshire estate. Mary learns that her dead aunt had a walled garden which has been locked away 10 years, ever since her death. Determined to find it, Mary finds the key to open the garden and she discovers a lost  paradise.  Spending time in the garden is transformational for her; she becomes softer and kinder and more optimistic.  That's why the trailer ends with this quote, "This garden; it's capable of extraordinary things. Now will you believe in the magic?"     Brevities #OTD  Today is the birthday of the Irish-born botanical steward of the plants collected by Lewis and Clark; the Philadelphia nurseryman, Bernard McMahon, who was born on this day in 1816. McMahon's lasting legacy was his American Gardener's Calendar. Packed with monthly directions and information about all things gardening, McMahon's Calendar was the most popular and most comprehensive gardening publication of the first half of the nineteenth century. Through his work, McMahon was helping to shape the gardening identity of America; which was becoming more distinct and defined as it transitioned away from English traditions. The Calendar was like a gardening bible to Thomas Jefferson and it was that connection that led McMahon to become his gardening mentor. It also meant that when it came time for Jefferson to pick a curator for the Lewis and Clark expedition, McMahan was his pick. Lewis and Clark are forever remembered for their famous expedition which led to many botanical discoveries. The live plants and the seeds they had collected were expertly curated by McMahon who didn't dither; especially with the seeds. Once the specimens were in his hands, he immediately set about cultivating them.  There were constraints placed on McMahon. As the sole nurseryman fortunate enough to steward the collection, he could not propagate the plants for profit (they were the property of the United States Government) and he could not tell anyone about the collection (at least not until Lewis and Clark had a chance to write about it). In honor of his work, the botanist Thomas Nuttal named the genus Mahonia for McMahon. Mahonia is an evergreen shrub, also known as Oregon holly. The low-growing shrub can be kept tidy with pruning and looks like a holly, although it belongs to the barberry family. The Mahonia produces yellow flowers followed by clusters of bluish-green berries that turn red in the fall. The red berries attract birds and gardeners love that it is a favorite of cardinals. Mahonia has a glossy, dark green foliage that turns a gorgeous bronze in autumn.         #OTD Today is the anniversary of the death of the botanist and chemist John M. Darby who died on this day in 1877. In 1841, Darby wrote one of the earliest floras and he focused on the south eastern United States. His flora was practical and regional, so it's no surprise that his work became a textbook for botany in the South East. After John Torrey and Asa Gray had released their North American Flora, Darby's work was one of many regional floras that started popping up all over the United States. Sadly, Darby's work was basically dissed by Asa Gray who felt that Darby's work was amateurish. This dismissal was too hasty and ignored the rigorous botanizing performed by Darby throughout the South East and his obvious grasp of the distribution of plants throughout the South. Darby taught at Auburn University; at the time it was known as the East Alabama Male College. Darby was the "Julia Ann Hamiter" Professor of Natural Science. Darby taught there until 1861, when the college closed due to the Civil War. It reopened again in 1866 and Darby resumed teaching botany.       #OTD   Today is the birthday of the Panama Orchid Hunter and son of Lincoln, Nebraska, Abel Aken Hunter, who was born on this day in 1877. In a biography of his older brother, it was mentioned that all the kids in the Hunter family were, "born naturalists, for they knew all the birds and many of the plants and insects around Lincoln, [Nebraska]." When Hunter was just 15 years old, he was appointed to the United States Postal Service. It was a career choice that would supplement his collecting efforts all through his life. Hunter was like many Plant Collectors; he worked his regular job with the post office for almost 30 years while pursuing his passion for botany on the side. Hunter attended the University of Nebraska to study botany. Hunter was appointed botanical collector for the University of Nebraska in 1899. In 1905, when Hunter was promoted to mail clerk, he was making $58 a month. Eighteen months later, Hunter transferred to the post office in Gorgona in the Canal Zone in Panama. The move was an excellent one for Hunter; his pay jumped to $1,250 a month and he was smack dab in the middle of a botanical paradise. 1910 brought a fateful friend to Hunter. The amateur horticulturist Charles Powell was a nurse and he had been transferred to Gorgona. Although he was two decades older than Hunter, the two got on famously. They shared a mutual passion for fishing. Early on in their friendship, while they were fishing, they spied an incredible sight. Hunter is recorded as saying, "Look, Powell–orchids! Oodles of orchids! Treefuls of orchids! Let's get some of 'em." Needless to say, that day they literally brought home a "boat-load of orchids" and the orchids made their way to collectors across the globe. A year or two later, the Canal work in Gorgona wrapped up and both Hunter and Powell transferred to Balboa. From that point on, the two men would coordinate their vacation requests so that they could go on botanizing trips together in Panama. Powell created a special relationship with the Missouri Botanical Garden after he gave them 7,000 plants. In return, Mobot established a Tropical Station in Balboa, Panama. Powell was its first director. Hunter was his successor. The Station became a jewel in the crown of remote locations owned by Mobot.  By the mid 1920's, Hunter was collecting with MOBOT experts like George Harry Pring. They once traveled to a remote part of southwest Panama to hunt for orchids where Pring recalled the perilousness of their quest and the natural instincts of Hunter. He said, "To obtain varied genera and new species it is necessary to climb the 'barrancas' [steep, rocky slopes], ford streams, cut one's way through the jungle, and hunt for the coveted orchid, and it is truly a hunt. Hunter's sharp eyes detected almost everything within range." A week before Thanksgiving in 1934, the Director of Mobot sent a party of three researchers including Paul Allen down to work with Hunter; their primary mission was to find where the Sobralia powellii orchid originated. Hunter's gut told him it would be near the head waters of the river they were exploring. For three days, they made their way through rapids and a tropical rain storm. Nothing was going their way; they were ready to give up. They were standing at the edge of a natural pool of water near the crater of an ancient volcano when Allen decided to jump in for a swim. As he climbed out, Allen's journal records this fantastical moment: "Climbing out [of the pool] on the opposite side my astonished gaze was met by a plant with great milky white buds nearly ready to open. The long-sought prize, Sobralia powellii, had been found. Its native home was no longer a mystery." Allen called this area "a garden of orchids" and would not disclose the exact location. Allen and Hunter found hundreds of small orchids in this spot; incredibly many were new to even Hunter. It was a veritable orchid treasure trove. This trip was everything to Hunter. He had been diagnosed with intestinal cancer. It was his last run. When it was clear he could not go on, Allen brought him to a hospital in Panama City where he died on April 6, 1935. Allen finished the expedition alone. After his death, Hunter's wife, Mary, operated the station at Balboa for 18 months until, fittingly, Paul Allen was appointed Director. Allen went to Balboa with his new bride, Dorothy. They had been married for 10 days. As for Abel Aken Hunter, many orchids have been named in his honor, including the Coryanthes Hunteranum, or the Golden Bucket orchid.         Unearthed Words “Caught in the doldrums of August we may have regretted the departing summer, having sighed over the vanished strawberries and all that they signified. Now, however, we look forward almost eagerly to winter's approach. We forget the fogs, the slush, the sore throats and the price of coal, we think only of long evenings by lamplight, of the books which we are really going to read this time, of the bright shop windows and the keen edge of the early frosts.”  ― Denis Mackail, Greenery Street       Today's book recommendation: Straw Bale Gardens Complete by Joel Karsten In May of 1994, Joel Karsten experimented with 50 straw bales on his childhood farm in Southwest Minnesota.  He was trying to come up with a new way to grow vegetables at his new home in the Twin Cities which was on terrible clay soil. By June, he realized the plants in the bales were twice as tall as the plants growing in the soil. He kept refining his methods until his Straw Bale Gardens were discovered by a local reporter in 2007. Now, twenty-five years later, Joel Karsten is the recognized pioneer of Straw Bale Gardening, with his first book an acclaimed NY Times Best Seller and fans around the world. You can hear Joel's incredible story on the Still Growing gardening podcast. I interviewed Joel in a three-part episodes 515 - 517 and you can hear his incredible personal story and his method of growing in straw bales. And, you can hear about the amazing impact his technique has had around the globe in Episode 556.   Today's featured book, Straw Bale Gardens Complete contains all of the original information from Joels first books, but it also goes much deeper, with nearly 50 pages of all-new advice and photos on subjects such as growing in a tight urban setting and making your straw bale garden completely organic. There is even information on using straw bale techniques to grow veggies in other organic media for anyone who has a hard time finding straw. If you've attempted a straw bale garden without using Joel's expertise, you really should get his book, or at least listen to those very thorough interviews we did, and give it another go. It's an incredible way to garden in the most challenging situations and in Cold Climates, you can gain extra growing time - somewhere around 6-8 weeks - in the shoulder seasons of Spring and Fall - that alone makes it worth doing.   Today's Garden Chore Winterize your strawberry beds. Prune out runners that you don't want for next year. You can begin the thinning process by potting up your strawberry runners so that you can have even more strawberry plants next year to share at a plant swap, to share with friends or to add to your own garden. I just sink my pots into the ground and then I can deal with them in the spring by snipping them off the mother plant - I let them remain tethered to her throughout the winter. While you're at it, now is the perfect time to clean up the bed. It's also THE time to add a final boost of fertilizer. This time of year, I like to add a fresh layer of protective mulch around my plants to help them survive the winter.     Something Sweet  Reviving the little botanic spark in your heart On this day in 2005, The Boston Globe shared a little Q&A Segment written by Matt McDonald.  A reader had asked, Why is there a large statue of a woman on the south bank of the Charles River in South Natick? Matt's Answer was as follows: "The 9-foot-tall statue represents Our Lady of the Immaculate Conception, a Roman Catholic name for Mary, the mother of Jesus. It can be seen from a dirt pullover area on the shoulder of Route 16. But, from a distance, it's not obvious that the statue is of Mary. And its placement, on a rock outcropping overlooking the river with no structures nearby, is unusual. So, the statue has led to imaginative theories about why it's there. "I can't tell you how many call up and ask who it was that drowned," said Janice Prescott, president of the Natick Historical Society." Turns out the statue was put in place by Daniel Sargent, a grandson of the wealthy horticulturist Horatio Hollis Hunnewell. Sargent converted to Catholicism as a graduate student at Harvard. He placed the statue in the back of his beautiful property overlooking a bend in the river. "A 1938 newspaper clipping shared the Latin inscription at the [base of the statue which translates] as "May flowers bloom on this earth."       Thanks for listening to the daily gardener, and remember: "For a happy, healthy life, garden every day." 

From the 905, to wherever you are...THIS is SHWA STYLE WRESTLING PODCAST! On this special "TWO ON ONE" style interview, I sit down with the creators of Weekly Wrestling Podcast & Ontario Indy stars, "Undeniable" MATTHEW GRANT& "The Reject" JT KIRK! We talk about their "TOP FIVE of ALL TIME", how they found independent wrestling,what some of their highlights of their career have been thus far & we see who is on their WRESTLING BUCKET LIST as to who they want to face here in Ontario & around the world! Plus we hear some great ROAD STORIES, and they both answer your questions in our special "Q&A Segment"! Check it out today!

From the 905, to wherever you are...THIS is SHWA STYLE WRESTLING PODCAST!On this special "TWO ON ONE" style interview, I sit down with last years winner ofthe Deathproof Fight Club Tournament, "White Trash" MATT CASH & currentChinlock Wrestling Champion, "The Selfie Queen" JESSIE MACK!We talk about their "TOP FIVE of ALL TIME", how different training was for each of them when they first started & some HILARIOUS road stories from each of them!Plus we talk about HARDCORE & INTERGENDER WRESTLING and answer your questions in our special "Q&A Segment"!Their chemistry is amazing & you can definitely tell in this interview! So listen to it today!

Ein neues Jahr beginnt man am besten mit exzellentem Wrestling, und dafür ist wohl kaum eine Show besser geeignet als Wrestle Kingdom. Wir besprechen heute alle Matches der Show, spekulieren über potenzielle Abgänge, gehen ein wenig auf die World Tag League ein und haben auch ein kleines Q&A-Segment am Start, in dem wir auf eure Fragen zum Thema NJPW eingehen. Volles Programm also direkt noch auf den letzten Metern in 2018. Viel Spaß mit unserer letzten Opening Bell des Jahres!

Q&A Segment

Join Andrew & Manuela for the last episode of season 1 as they discuss insurance, bad camping experiences, and the Milgram experiment. Special guest Erica Crawford on the topic of Girl Scouts. Be a part of our Q&A Segment! Send us an email at 2friendswithnothingincommon@gmail.com.

Baltimore County Public Libraries invited our hosts Donte' Cotton and Ronald James to host one of their Inspire Nights to talk about BRNDD, how they started the podcast, what's it like being a creative and what challenges they faced, and what makes them successful.    Highlights:  2:22 - What is Podcasting? 5:06 - Inspiration 7:00 - Trials and Tribulations 10:12 - Success Stories 14:20 - What is Debonair Material? 18:47 - What Inspired the Podcast? 24:22 - Streetwear: Mastered 27:01 - Production Challenges 32:01 - Scheduling Issues 34:18 - The Art of Following Up 35:25 - How to Create and Maintain a Strong Circle 37:13 - Fight through the Challenges 43:24 - Use Your Resources 47:04 - Baltimore Comedy Festival 50:40 - Pensole Academy 53:31 - Q & A Segment   BRNDD 10 Playlist:     BRNDD Podcast: Website: debonairmaterial.com E-Mail: brndd@debonairmaterial.com Facebook Fan Page: www.facebook.com/brnddpodcast Twitter/Instagram: @BRNDDPodcast facebook: https://www.facebook.com/brnddpodcast/     Ronald James Twitter and Instagram: @whoisronjames  

This week I interview first time WordCamper Peter Malick Upcoming Events WordCamp New York July 15- 17 WordCamp Lima – July 16 WordCamp Lehigh Valley, PA – July 16 Segment 1: In the News WPSiteSync version 1.1 released. WordPress 4.6 Beta 2 WCEU – Matt Mullenweg sat down with Brian Krosgaurd for Q/A Segment 2: …

This week I interview first time WordCamper Peter Malick Upcoming Events WordCamp New York July 15- 17 WordCamp Lima – July 16 WordCamp Lehigh Valley, PA – July 16 Segment 1: In the News WPSiteSync version 1.1 released. WordPress 4.6 Beta 2 WCEU – Matt Mullenweg sat down with Brian Krosgaurd for Q/A Segment 2: …

The Raw Uncut, Dirty and all in your closet type 'ish episode featuring; Prince Cassadine, Stephen D'Wayne, Slick Foster, Kell Williams, Jaylon Dickerson, Parys Smith and Kobe Black!! Be ready for the low down and dirty truth from Seven African American Males within the LGBTQ Community. THIS IS ALL THE WAY LIVE!!!!!! Q/A SEGMENT last 20-30 mins of the show!!!

NEOSA Sales and Marketing SIG: Beyond the Website: Using "The Whole Web" for more Sales, Leads and Publicity, May 6, 2009 - Q&A Segment