Podcasts about retirement answer man

Why This Episode Is a Must-Listen Today's retirees face more uncertainty than ever: market swings, inflation, and the disappearance of traditional pensions. In this episode of Inspired Money, host Andy Wang brings together four of the leading voices in retirement planning for a candid, practical conversation—one that moves beyond “rules of thumb” to reveal actionable ways to create reliable income and lasting peace of mind for your retirement years. If you want clarity in your retirement income plan, ideas to maximize your savings, or strategies for a fulfilling next chapter, this episode is packed with the real-world wisdom you need. A Word From Our Sponsor If you're looking for a standing desk to improve your posture, comfort, and overall work setup, I highly recommend the Ergonofis Sway Desk—it's beautifully designed, incredibly sturdy, and sustainably made. Check it out at my affiliate link: inspiredmoney.fm/standingdesk (I may earn a commission if you make a purchase, at no extra cost to you.) Meet the Expert Panelists Jamie Hopkins, Esq., LLM, MBA, is the Chief Wealth Officer at WSFS Bank and Chief Executive Officer of Bryn Mawr Capital Management. A nationally recognized retirement planning expert, Jamie has dedicated his career to improving financial security for Americans through leadership roles in wealth management, financial education, and nonprofit advocacy. He is the founder and president of the FinServ Foundation, a nonprofit focused on expanding access to financial services careers. With a background in law, finance, and academia, Jamie brings a multidisciplinary approach to helping individuals and institutions build sound retirement income strategies. www.jamiehopkins.com www.bmt.com  Dana Anspach, CFP®, RMA®, is the founder and CEO of Sensible Money. She's dedicated her career to helping people create sustainable retirement income plans. She's the author of "Control Your Retirement Destiny" and "Social Security Sense." Dana's hands-on experience makes her a wealth of practical knowledge. https://www.sensiblemoney.com  Kerry Hannon is a nationally recognized workplace futurist, personal finance expert, and best-selling author who has spent over three decades guiding Americans—especially midlife professionals and women—through career transitions, entrepreneurship, and retirement planning. Her forthcoming book, Retirement Bites: A Gen X Guide to Securing Your Financial Future—now available for pre-order on Amazon—offers empowering, practical advice to help the overlooked generation take charge of their next chapter with confidence and purpose. https://kerryhannon.com   Roger Whitney, CFP®, CIMA®, CPWA®, AIF®, the "Retirement Answer Man," is a Certified Financial Planner with 27+ years in finance. Author of "Rock Retirement" and founder of the Rock Retirement Club, he's also the voice behind the popular Retirement Answer Man podcast that has over 8 million downloads. https://www.rogerwhitney.com Key Highlights: Retirement Isn't Just About Maximizing Returns—It's About Reliable Income and Peace of Mind Dana Anspach reminds us: “A good retirement plan shouldn't be tied to where that pogo stick is on its trajectory. It's one that focuses on stability of cash flows over time.” The panel discusses why shifting your mindset from maximizing account balances to managing sustainable cash flow is key to peace of mind. Work, Entrepreneurship, and Purpose Play Critical Roles in a Modern Retirement Kerry Hannon points out that working longer—whether through career extension, entrepreneurship, or passion projects—can boost both financial security and life satisfaction. “How can you continue to work longer? It's a dramatic way to give yourself some security in retirement if you can stay working longer.” The episode explores creative ways Gen X and boomers are redefining "retirement." There's No One-Size-Fits-All: Frameworks vs. Rules Roger Whitney insists that “the answer to almost every question...is ‘It depends'.” No single formula fits everyone; a personalized, evolving plan that balances what you want out of life with practical financial strategies is essential. The episode delves into why regular reviews and customized “guardrails” are more important than rigid withdrawal rules. Guardrails, Buckets, and Behavioral Coaching Are More Vital Than Ever Jamie Hopkins and Dana Anspach review popular strategies like bucket and guardrails approaches, emphasizing that tools and behavioral coaching work best when tailored to each retiree's unique needs and anxieties. Jamie also warns about new financial threats: “I think that fraud...is going to become rampant. It's the biggest concern out there...it's a big concern.” Call-to-Action If you've been feeling uncertain about your own retirement income plan, here's your assignment for the week: Take 30 minutes to map out your expected sources of income in retirement—pensions, Social Security, savings, investments—and identify any potential gaps. Just getting it on paper can give you clarity and a starting point to make smarter, more confident decisions.  Thanks for tuning in to Inspired Money. Keep learning, stay intentional, and as always—be inspired to take action.  Find the Inspired Money channel on YouTube or listen to Inspired Money in your favorite podcast player. Andy Wang, Host/Producer of Inspired Money

Joe sits down with Roger Whitney, the Retirement Answer Man, to discuss agile retirement planning, financial confidence, and redefining retirement beyond just money. Roger shares insights on why retirement is not a math problem, how to invest in your life and passions, and the importance of social engagement and community in retirement. They also explore how the Rock Retirement Club helps retirees navigate financial and lifestyle transitions, avoid common pitfalls, and build a fulfilling future. Tune in for expert strategies on retirement income planning, financial freedom, and creating a confident retirement mindset.  Read the full show notes and find more information here: EP 135 Show Notes

Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Doug Mann. They talk about a wide array of retirement planning topics such as retiring and living abroad in Thailand and the unique planning considerations involved with being abroad full-timeLinks in this episode:Doug's travel/photography website - www.photomann.comThe Rock Retirement Club - hereRetirePlan website - hereDoug's episode on Roger Whitney's Retirement Answer Man podcast - hereTenon Financial monthly e-newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.comTo send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

Here's a shock: our least favorite brokerage company is in the news again with some monster hidden fees. Robinhood is accused of charging customers a huge "spread" between the amount option buyers pay and the amount sellers receive. While this isn't a charge on the statement, it's a lot of money (nearly double) that other companies charge. This topic got us thinking: what hidden charges, expenses, and costs exist in our life that we overlook or choose to ignore? How much are all of THESE costs adding up? We have the perfect triumvirate for this discussion. Jen Smith, one half of the Frugal Friends duo joins us (they talk consumption non-stop on their podcast). Roger Whitney chimes in (his Retirement Answer Man helps people control excess costs in retirement or when prepping). OG also joins in, with all of his experience helping clients reach their goals. It's a wide ranging, fun discussion, from the cost of pollution to hidden Doordash costs we didn't know about! Of course, halfway through this episode, we take a break to challenge these contributors to a round of Doug's epic trivia. FULL SHOW NOTES: https://www.stackingbenjamins.com/hidden-fees-and-costs Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

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

Andy chats with fellow retirement planner Roger Whitney, CFP®, CIMA®, CPWA® from The Retirement Answer Man podcast. In this episode they talk about a wide array of retirement planning topics such as tax planning, investing, annuities, how to help advise people get over the hurdle of not wanting to spend their money, what consumers often overlook in retirement planning and much more!Links in this episode:Roger's website - The Retirement Answer ManBronnie Ware's book - The Top Five Regrets of the DyingRoger's workbook of info and questions about - Finding a Trusted AdvisorTo send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.comTenon Financial monthly e-newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com

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

Selling the business and retiring isn't an on/off switch. When you approach it like a dimmer, you gain the confidence to transition with peace of mind. Roger Whitney, the Retirement Answer Man, points out that decisions like taking a pension or lump sum are just the basics. The real focus should be on the visionary choices that truly shape your retirement.   KEY TOPICS How to stop losing sleep over retirement planning. Recognizing and honoring phases of life as they evolve. Why the primary crisis of retirement is sheer lack of confidence. How to map out “what's next” following your retirement.   CHAPTERS 00:00 Mission of Decidedly 04:02 Roger Whitney, the Retirement Answer Man 06:35 The Crisis of Your Confidence 09:00 When You're Nervous to Retire 13:39 The First Steps to Retirement Planning 16:26 Stop Chasing the New Strategy 20:00 Make Yourself Uncomfortable 26:16 Embracing New Seasons 30:05 Retiring to Something Refreshing 35:08 Post-Retirement Goal Setting 37:40 Rich People Don't Think They're Rich 41:36 Gratitude Practice to Combat Fears 43:30 Repairing a Bad Money Decision 48:52 Decision Tip for Business Owners 50:44 Key Takeaways 51:36 Producer Closing   CONNECT WITH US ⁠www.decidedlypodcast.com⁠ Watch the full episode on YouTube Subscribe to watch weekly episodes on YouTube⁠ Join us on ⁠Instagram⁠: @decidedlypodcast Join us on ⁠Facebook⁠ Shawn's Instagram⁠: @shawn_d_smith Sanger's ⁠Instagram⁠: @sangersmith     Thank you to Shelby Peterson of Transcend Media for editing and post-production of the Decidedly podcast.   SANGER'S BOOK: ⁠A Life Rich with Significance: Transforming Your Wealth to Meaningful Impact⁠   SHAWN'S BOOK: ⁠Plateau Jumping: What to Change When Change Is What You Want⁠   MAKING A FINANCIAL DECISION? At ⁠Decidedly Wealth Management⁠, we focus on decision-making as the foundational element of success, in our effort to empower families to purposefully apply their wealth to fulfill their values and build a thriving legacy.  LEARN MORE: ⁠www.decidedlywealth.com⁠   SUBSCRIBE TO THE NEWSLETTER:⁠ https://visitor.r20.constantcontact.com/manage/optin?v=001aeU_pPBHJPNJWJBdVbaci6bjGIuEJurH12xHBWDEVT_NxyCadMd7wLSZjcEZglkSjDjehuIbTHD8nABOIdV69ctfYpSzg24RCIytetBUrlIPPKgaGzjGZ8DkM0Wp1LMjbErcYUur7PbZGjeVo4gyXlz821AoJGZR⁠       CONNECT WITH ROGER WHITNEY Website: www.rogerwhitney.com Retirement Answer Man Podcast: www.rogerwhitney.com/blog Rock Retirement Book: www.rogerwhitney.com/the-book   Roger has been walking life with clients as a financial advisor for more than 25 years and is the host of the award-winning Retirement Answer Man® podcast. He is on a mission to change the way the world thinks about retirement, one little conversation at a time. Roger established the RRC in 2018 to help foster a safe online space for soon-to-be retirees to learn, plan, and interact with other like-minded folks on the path to retirement. As if that's not enough to keep him busy, he is the author of Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future, a Forbes online contributor, creator of the Agile Financial Planning process, and past instructor of the Retirement Planning & Employee Benefits CFP® certificate program at the University of Texas Arlington and of Wealth Management at Texas Christian University. Investopedia has named him to the Top 100 Most Influential Advisors 2017-2019 & 2021, and he has brought home Plutus Awards for Best Financial Planner Blog (2019) and Best Retirement Blog (2015 and 2017).

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

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

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

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

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

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

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

Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Al DiSalvio, who lives in New Jersey and plans on retiring in 2025. They talk about a wide array of retirement planning topics such as when Al started getting serious about retirement planning, what he wishes he would have known earlier and a variety of financial topics such as Social Security, investing, Roth conversions, how he recently took a work assignment abroad and more!Links in this episode:Roger Whitney's Retirement Answer Man podcast - hereRob Berger's YouTube channel - hereJoe Kuhn's YouTube channel - hereTenon Financial monthly e-newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com

Editor's Note: This episode initially aired on July 20, 2022. It may contain some details that are out of date. According to one recent survey, only 4% of Americans have $1 million or more in retirement savings, which means 96% of us don't. Of course, depending on your situation, a million bucks may be overkill: Many people could fund their retirement years for a lot less. Still, it's a nice, round number, and one worth shooting for. Obviously, however, that's a lot of money. Is it even possible to get there? In a word, yes. And that's what we're going to talk about today: building a million-dollar nest egg, and just as important, how to figure out how much you're actually going to need. As usual, co-hosts Stacy Johnson and Miranda Marquit are joined by producer Aaron Freeman. This week's special guest is Roger Whitney, the Retirement Answer Man. Remember, even though we sometimes talk about specific investments on this show, don't take them as recommendations because they're not. Before investing in anything, do your own research, and make your own decisions. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on Google Podcasts Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos. https://youtu.be/US5Vk5nThuI Is $1 million enough to retire on? It sounds like a lot of money, but is $1 million enough to retire on? What you really need to do is figure out how big your nest egg should be and go from there. Whether $1 million is enough depends on your own situation. Check out how long $1 million will last during retirement. Read our article on the retirement numbers you should know as you plan your golden years. Where does your retirement income come from, anyway? Check out our overview of where most retirees get their money. Find out where you fit in when it comes to your retirement savings, based on your age. Our guest has a great podcast episode on investment returns and inflation during retirement. Tips for building a $1 million nest egg Ready to build your wealth? We talk about ways you can get your nest egg to that elusive $1 million mark. We have an article on how to retire with at least $1 million in the bank. Before you assume the 4% rule is still good, check out our article on rethinking this popular retirement planning strategy. Don't let taxes drain your retirement. Read our retirement tax tips to help you keep more of your money. We've got some strategies that can boost your retirement savings by $1.7 million. Before you quit your job, read our article about how to protect your nest egg after you call it quits. Make the most of your retirement with our 65 tips for a healthy, wealthy and happy retirement. Meet this week's guest, Roger Whitney Roger has been a financial advisor for more than 25 years and is the host of the award-winning Retirement Answer Man podcast. He is on a mission to change the way the world thinks about retirement, one little conversation at a time. Roger established Rock Retirement Club in 2018 to help foster a safe online space for soon-to be retirees to learn, plan, and interact with other like-minded folks on the path to retirement. As if that's not enough to keep him busy, he is the author of "Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future," a Forbes online contributor, creator of the Agile Financial Planning process, and past instructor of the Retirement Planning & Employee Benefits CFP certificate program at the University of Texas at Arlington and of Wealth Management at Texas Christian University. Investopedia has named him to the Top 100 Most Influential Advisors 2017-2021, and he has brought home Plutus Awards for Best Financial Planner Blog (2019) and Best Retirement Blog (2015 and 2017). Website Twitter Facebook YouTube LinkedIn Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.Become a member: https://www.moneytalksnews.com/members/See omnystudio.com/listener for privacy information.

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

There is no shortage of questions when it comes to navigating and planning for retirement. ➤ How much do I need to save?  ➤ How do I optimize my tax bill and avoid overpaying the IRS?  ➤ When do I take Social Security?  ➤ What should I invest in? (And what should I avoid?!) The list goes on. And while you've likely read (or heard) helpful answers to most of the big questions, it never hurts to revisit them or get a different perspective. In fact, some studies suggest that it can take hearing something 7 times before you retain it

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

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

Today I'm talking through four (rarely-discussed) retirement planning misconceptions. In fact, some of these misconceptions might not be misconceptions at all... ...they might be concepts that you've never even considered! For example, is retirement planning a complex problem OR a complicated problem? (And why does it matter?)  And, should you develop a retirement plan from the outside in OR the inside out? To help answer these important questions, I'm joined by Roger Whitney, host of the Retirement Answer Man podcast.  Along with being a great person and expert retirement planner, Roger is also a deep, critical thinker who will definitely get your wheels turning in this episode. WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2024 Tax Planning Cheatsheet.

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

In the episode "Retirement Planning Strategies: Designing a Future of Financial Independence" of the Inspired Money Livestream Podcast, Andy Wang masterfully orchestrates a panel of financial savants to dissect the multifaceted journey of retirement. This episode, featuring Roger Whitney, Fritz Gilbert, Anne Lester, and Colleen Jaconetti, delves into an odyssey of fiscal foresight and personal aspiration, guiding listeners through the labyrinth of securing a fulfilling and financially independent retirement. Mastering Your Retirement Plan Beyond the financial dimensions, this episode also underscores the importance of social engagement, mental well-being, and finding purpose in retirement. The panelists collectively stress the significance of building and nurturing social connections, engaging in community activities, and maintaining a healthy lifestyle to enhance the quality of retirement life. Listeners are invited to absorb the wealth of knowledge shared in this episode. Engage in the conversation about retirement planning and share your own journey towards financial independence in the comments. Join the community on social media for ongoing discussions that blend the art of living with the science of financial planning. Whether you're meticulously mapping out your retirement or just starting to ponder your financial future, "Retirement Planning Strategies: Designing a Future of Financial Independence" is a treasure trove of insights. This episode is a testament to the intricate tapestry of retirement planning, intertwining financial acumen with a holistic approach to living a fulfilling post-work life. Guest Profiles: Roger Whitney: Roger Whitney, the "Retirement Answer Man," brings a wealth of 27 years in finance, offering a paradigm shift in retirement planning. His insights transcend traditional models, advocating for a balanced blend of vision, feasibility, and resilience. Whitney's approach to retirement is not just about numbers; it's about adapting life plans to financial realities, ensuring a transition that's both smooth and enriching. https://www.rogerwhitney.com Fritz Gilbert: Fritz Gilbert, the voice behind The Retirement Manifesto, shares his personal narrative of transitioning from active wealth accumulation to thoughtful wealth management. His story, marked by a strategic shift in financial tactics, serves as a beacon for those navigating the uncertain waters of retirement. Gilbert emphasizes the importance of a diversified income stream, underscoring the need for flexibility and adaptability in retirement planning. https://www.theretirementmanifesto.com Anne Lester: Anne Lester, with her extensive background in guiding younger generations, highlights the criticality of starting early and planning strategically for retirement. Her insights offer a valuable framework for Millennials and Gen Z, illuminating the path towards a future that balances both dreams and practical needs. Lester's unique perspective on envisioning the future self as a friend rather than a stranger is a profound takeaway for listeners.  https://annelester.com Colleen Jaconetti: Colleen Jaconetti from Vanguard brings her expertise in aligning short-term and long-term financial goals. She delves into the complexities of financial planning, discussing the nuanced balance between immediate needs and future aspirations. Jaconetti's analysis of withdrawal strategies and the art of balancing risk and income generation in retirement provides listeners with practical tools for financial planning. http://vanguard.com

Roger Whitney, host of the Retirement Answer Man podcast answers retirement focused questions. Roger discusses retirement planning, retirement planning mistakes, worries about running out of money, and other retirement concerns. If you'd like to be a part of a free online retirement community, join us on Facebook: https://www.facebook.com/groups/399117455706255/?ref=share

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

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

Les Brown, no stranger to hard work and the resulting success it brings, famously said, “Do what is easy, and your life will be hard. Do what is hard, and your life will become easy.” Does the secret to creating an easy life lie in doing hard work first? How much of what seems easy from the outside looking in is actually the result of hours of hard work that was put in beforehand? Joining Joe for a special roundtable discussion that centers around how to do the hard things in order to create an easier life going forward are three people who are no strangers to doing the hard work: Roger Whitney, the Retirement Answer Man; Carl Jensen, creator of the 1500 Days to Freedom blog; and Paula Pant, host and creator of the award-winning Afford Anything podcast and blog. They dive into the complex relationship between hard work and an easy life and offer some gems for Stackers to take away. In the second half of our show, sponsored by DepositAccounts.com, we discuss some hard work life skills and money skills that you can tackle today that will help you out financially in the future. Be sure to stick around for our resident hard work expert Doug's astrological-themed trivia! Will either of our two guest contributors pull out the W and Len or OG benefit from their hard work, or will our regular contributor Paula continue her late season charge for our spectacular dollar store trophy? FULL SHOW NOTES: https://www.stackingbenjamins.com/friday-roundtable-hard-work-easy-life-1427 Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

A PROVEN PLAN FOR A SUCCESSFUL RETIREMENT ... ONESHOT. ONELIFE. is honored to have CERTIFIED FINANCIAL PLANNER Roger Whitney. Roger is the host of one of the top retirement podcasts, The Retirement Answer Man, in iTunes with more than 8 million downloads and over 500 episodes (and counting!) He is also the author of: Rock Retirement: A Simple Guide to Help You Take Control and be More Optimistic About the Future Roger is ranked by Investopedia as one of the Top 100 Most Influential Advisors over 6 years and named by Inc. Magazine as one of the best blogs to follow. In this episode, Roger shares some great retirement advice to help you stop worrying about your retirement and put together a successful plan that will help you win in retirement! https://www.rogerwhitney.com/

Listen in as Steven interviews Roger Whitney, host of the Retirement Answer Man podcast. In addition to working with clients through his financial planning practice Roger runs the Rock Retirement Club providing resources and insight to over 1,100 consumers looking to go beyond DIY. Roger has a wealth of experience that he pulls from to share the hurdles that clients run into and how Advisors can help overcome. https://bit.ly/3ZCszHb

In this episode of On the Road With Catching Up to FI, Becky and guest co-host Mark talk candidly with a fellow traveler and recent retiree, Mike.  They are all on an Alaskan Cruise with the Rock Retirement Club, founded by a previous guest on the show, Roger Whitney, The Retirement Answer Man. Connect with us! @catchinguptofi  buy CUtFI a coffee Resources mentioned on the show: IRMAA (income-related montly adjustment amount) SSA-44   Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

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

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

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

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

Roger AKA, "The Retirement Answer Man” and author of “Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future,". Roger has been a CERTIFIED FINANCIAL PLANNER™ professional for more than 25 years. He's sharing how he's now helping people live well today in retirement without sacrificing tomorrow.

Becky and guest host Mark Trautman chat with The Retirement Answer Man, Roger Whitney.  They are all on vacation with a group from the Rock Retirement Club.  Bill is back at the ranch working his day job and editing podcasts dreaming of time freedom on the path to financial independence, but still living his best life. As a certified financial planner for over 25 years, Roger uses his credentials and every channel possible to help people live well today without sacrificing tomorrow.  He is a three-time Plutus Award Winner for best retirement blog/podcast.  The podcast has over 8 million downloads and 475 episodes (and counting!).  He is the author of "Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future."  Investopedia has ranked him as one of the top 100 most influential advisors several years in a row.  His mom passed away at 48, sacrificing the now while dreaming of the retirement brochure in the future.  He wants to help us shift what is possible in retirement by how we live, work, and celebrate what is possible right now - and keep doing it! Resources mentioned on the show: The Retirement Answer Man Rock Retirement Club Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future by Roger Whitney The Second Mountain: The Quest for a Moral Life Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear Outlive: The Science and Art of Longevity by Peter Attia Mark's Money Mind

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

Rocking retirement requires focusing on both the financial and non-financial aspects of retirement. In the previous two episodes we explored the four financial areas that help build a rocking retirement, and today, we begin to examine the non-financial areas starting with energy and mindset.  After listening you'll understand why rocking the non-financial part of retirement starts with building your energy. Learn how to improve your energy and mindset by listening to this episode of Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [1:30] Energy is the first pillar 4:17] Create a plan to improve your energy [7:10] Develop a growth mindset [12:46] An example  LISTENER QUESTIONS [15:38] Do you have to be actively earning income to contribute to a Roth? [18:53] How doing their own taxes saved them thousands of dollars (and not only in tax preparer fees) [22:55] Will my spouse receive the COLA as well? [25:28] Are CDs a good way to invest? BRING IT ON WITH MARK ROSS [29:51] Foster an abundance mindset [35:34] Tools to use to practice an abundance mindset TODAY'S SMART SPRINT SEGMENT [37:24] Be aware of the stories that you tell yourself and how they affect your mindset Resources Mentioned In This Episode BOOK - Limitless Mind by Jo Boaler Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Roger's Retirement Learning Center

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

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

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

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

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

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

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

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

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

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