Podcast appearances and mentions of rock retirement club

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

Chris's Summary:Jim and I are joined again this week by Kevin Sebesta from the Rock Retirement Club in this EDU episode. We explore what helps retirees start spending confidently—especially when markets are volatile or the saver mindset is hard to shake. Kevin shares how structure, support, and community all play a role, and why building confidence […] The post Spending Confidently in Retirement with Kevin Sebesta: EDU #2521 appeared first on The Retirement and IRA Show.

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

Chris's Summary:Jim and I welcome Kevin Sebesta from the Rock Retirement Club in this Dialogue EDU episode to explore the retirement mindset and why preparing for life after work goes beyond just the numbers. Kevin shares lessons from his own journey and the broader retirement community about identity, purpose, and what makes a fulfilling transition. Jim's […] The post Exploring the Retirement Mindset with Kevin Sebesta: EDU #2520 appeared first on The Retirement and IRA Show.

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

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

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

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

Send us a textJoin me as I interview Mark Ross, MBA, ACC. Mark is an “Encorepreneur,” Thought Partner/Coach, Team Host with the Rock Retirement Club, and a Strategic Coach with the REALIFE Process. Mark shares his insight as a retirement coach and a nine year retiree. 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

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

Send us a textKevin Lyles, Head Retirement Coach of the Rock Retirement Club, joins me in a long form discussion about deciding when is the right time to quit working and retire.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

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

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

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.

Tune in now to this podcast segment where Colter DeVries interviews Roger Whitney, a seasoned financial planner and podcast host. Roger challenges the traditional idea of retirement, emphasizing the importance of options and time freedom over simply stopping work. He introduces the concept of "agile retirement management," promoting adaptability in retirement planning.They discuss the challenge of finding the right financial advisor, stressing the need to align your goals with an advisor's process and cautioning against advisors focused on sales.The conversation touches on the frustration of unclear disclosure about advisors' compensation structures and the value of finding a supportive financial community, like the Rock Retirement Club.They explore various financial topics, emphasizing the importance of clear vision, regular goal reassessment, and aligning financial decisions with personal values. Strategic planning is highlighted as a tool to filter out financial distractions, underlining the significance of intentional decision-making in financial planning. Don't miss this!

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

For our last installment of On the Road with Catching Up to FI, Becky and co-host Mark chat with Stacey, a (p)retired fellow traveler and member of the Rock Retirement Club. Stacey graciously opens up about the challenges of moving, caring for an aging parent, and being a widow while on the path to FI.  Connect with us!  @catchinguptoFI  buy CUtFI a coffee Resources mentioned on the show:  The Retirement Answer Man Show   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.  

We take the show on the road again.  Becky and Mark, our guest co-host, chat with Rusty on their recent Alaskan cruise with Roger Whitney's Rock Retirement Club.  These episodes were recorded in front of a live audience.  They are simply chats with people in their peri-retirement years. Connect with us! @catchinguptofi  buy CUtFI a coffee Resources mentioned on the show: @catchinguptoFI Rock Retirement Club The Retirement Answer Man Show Boomer Benefits   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.

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.

Becky and Mark talk to Tony about his journey to FI and retirement while on a cruise to Alaska.  This is part of a new series called On the Road with Catching Up to FI. Connect with us! @catchinguptofi  buy CUtFI a coffee Resources mentioned on the show: Rock Retirement Club The Retirement Answer Man Show Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life by Jordan Grumet But First, Save 10: The One Simple Money Move That Will Change Your Life by Sarah-Catherine Gutierrez   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.

Summary Roger is a renowned retirement podcaster, blogger, educator, and planner. With over 8 million downloads and 475 episodes of The Retirement Answer Man show under his belt, and his brilliant community-based Rock Retirement Club he has truly made a mark in the retirement space. We delved into the emotional and behavioural challenges of retirement, discussing how we, as humans, are simply not wired to take on this new phase of life without some battle scars. One of the key topics we explored was the "paycheck anxiety" that many individuals face when transitioning into retirement. The loss of that safety blanket, the feeling of security that comes with a regular paycheck, can be daunting. Roger shared some valuable insights and observations on how to navigate this challenge and find peace of mind in your retirement journey. Useful Links Thinking in Bets by Annie Duke The Power of Agency by Paul Napper & Anthony Rao Winning The Losers Game by Charles Ellis The Top 5 Regrets of The Dying by Bronnie Ware Subscribe to the Humans vs Retirement podcast on Apple Podcasts, and Spotify Download for free my 7 Step Retirement Toolkit Subscribe to my newsletter Stay The Course Connect With Roger Twitter LinkedIn The Retirement Answer Man Podcast Agile Retirement Management   Connect With Me TFP Financial Planning LinkedIn Twitter Book in a chat if you want a second opinion about your retirement planning Email at dan@tfp-fp.com

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

Part 2 of 2 of my discussion with retirement coach Kevin Lyles where he shares his knowledge of planning for the “softer” side of retirement readiness through discussions about having meaning, purpose, fulfillment, etc. (original recording was from January 13 2021) Links in this episode:The Rock Retirement Club - www.RockRetirementClub.comFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com

Part 1 of 2 of my discussion with retirement coach Kevin Lyles where he shares his knowledge of planning for the “softer” side of retirement through discussions about meaning, purpose, fulfillment, etc. (original recording was from January 13 2021) Links in this episode:The Rock Retirement Club - www.RockRetirementClub.comFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com

The integration of creative arts into coaching offers a powerful and dynamic approach to personal and professional growth. By leveraging non-verbal expression, stimulating imagination, exploring metaphors and symbolism, embracing the whole self, and fostering playfulness, coaches can unlock new avenues for a client's self-discovery and transformation.  In this episode, Mark Ross joins us as explore the possibilities that arise when coaches integrate painting, writing, music, or movement into the coaching conversation.  About Mark Ross, MBA, ACC After a 30-year career in leadership and public service, Mark longed to start a new chapter. He ultimately worked with a coach to help determine his Next Thing. Now he helps others discover their Next Thing as they move into a new season as an Encore-preneur: enjoying the freedom to pursue the life, work and relationships that matter most. In addition to private clients who are navigating transitions, Mark also serves as a Team Host with the Rock Retirement Club and as a Strategic Coach with The REALIFE Process. Mark lives in Texas with his wife, and is the proud father of two grown daughters. One of his deepest joys is to create art; “visual music to inspire the world” through expressionistic paintings, which is an important part of his Next Thing. You can learn more about Mark and contact him at: www.nextthinggroup.com 

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

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

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

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

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

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

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

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

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 what 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. Listen on Apple Podcasts Listen on Google Podcasts Listen on Spotify Podcast Article with Links 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. 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 and requirements. 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. If you want your dream retirement, check out our four simple steps to living comfortably after you retire. 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 to that elusive $1 million mark in your nest egg. 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. Links: Click Here for the Free Money Talks News Newsletter! Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Meet this week's guest, Roger Whitney 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 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 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 Become a member: https://www.moneytalksnews.com/members/See omnystudio.com/listener for privacy information.

This week we welcome my good friend Roger Whitney to the show. In his own words, he looks impressive on paper but often feels like a mess in real life. He's spent much of the last decade investing in his growth and working on becoming a better version of himself. He's created a very impressive business but even more impressive is what he's learned about living a good life. He shares several nuggets of wisdom and helpful frameworks and resources that will improve your life today. This is one you don't want to miss. I have one question for you, "What are you going to do today?" About Roger: As a CERTIFIED FINANCIAL PLANNER™ professional for more than 25 years, he's using his credentials (CFP® certificant, CIMA®, CPWA®, and more) and every channel possible to help people live well today without sacrificing tomorrow. Three-time PLUTUS award winner for Best Retirement blog/podcast Host of one of the top retirement podcasts in iTunes with more than 4 million downloads and over 360 episodes (and counting!) Author of Rock Retirement: A Simple Guide to Help You Take Control and be More Optimistic About the Future (Morgan James, 2018) More than 25 years experience walking the journey into retirement with clients and listeners Ranked by Investopedia as one of the Top 100 Most Influential Advisors 2016, 2017, 2018, 2019, 2020 and 2021 Inc. Magazine named Retirement Answer Man® as one of the best blogs to follow in 2018 Creator of Rock Retirement Club, an online community providing education, tools, and support for building an amazing retirement Growing up, my mother was always worried about the future. She lived her life saving more, sacrificing more, and settling for less —all with the hope that one day she would have the financial and time freedom to spend it all on the family and activities she loved. Mom passed away at the age of 48. It's tragic, and not just because my mom was an amazing human (she was). It's sad because I see this kind of thing happen a lot. How many of us will spend most of our present saving for a future we never get to have? The answer will always be too many. And I've dedicated my entire career to helping people shift what's possible in retirement by changing how they live, work, and celebrate what's possible right now—and keep doing it. His world famous podcast, The Retirement Answer Man: https://www.rogerwhitney.com/blog The Rock Retirement Club: https://www.rockretirementclub.com/ Stay connected to us daily on Instagram @thebusinessoflivin To contact Michael directly, send an email to michael@thebusinessoflivin.com --- Send in a voice message: https://anchor.fm/michael-mcgreevy92/message

Today we are continuing our month-long series of listener questions. On this episode, you'll hear questions about Roth conversions, interest rate-hedged ETFs, pension payments, and the value of dividends as a source of income in retirement. If you are ready to gain the wisdom that you need to rock retirement, press play now. Time to pull out your May calendars Next month we will be focusing on functional health in retirement. You'll learn what you can do now to get your body in the right place so that you can do all the things that you have dreamed of in retirement. You won't want to miss the interview we have lined up with a functional health expert, so be on the lookout for this series coming up in May. While you're planning what to listen to in May, mark your calendar for May 19 at 7 pm CDT for our live webinar. During this interactive session, we'll be chatting about the market and inflation, I'll answer some retirement questions, and we'll discuss the Rock Retirement Club's open enrollment of the spring 2022 cohort. In this live webinar, you'll learn more about our inclusive online community of more than 800 members where you can create your financial plan, take masterclasses, and attend online meetups on financial and non-financial topics. If you are looking for a way to meet new, like-minded people in the same situation as you and supercharge your retirement, don't miss out on the May webinar to hear more about the Rock Retirement Club.  How to calculate a pension on a net worth statement One listener has a question regarding pensions on their net worth statement. A net worth statement is a financial statement that lists your assets in one column and liabilities in another. By subtracting your liabilities from your assets you can calculate your net worth. Up until now he has included the lump sum of his wife's pension in the assets column, but she will soon start collecting her monthly pension, so he no longer knows where to calculate the pension.  Once you start collecting your monthly pension, you no longer have an asset. Instead what you have is social capital–similar to your Social Security benefit. Social capital doesn't belong on a net worth statement; rather, it can be included on a household balance sheet. We use household balance sheets in the Rock Retirement Club when calculating projected retirement budgets.  Are interest rate-hedged ETFs a good idea? Interest rate-hedged ETFs trade like stocks and hold like bonds. However, rather than being organic financial products, interest rate-hedged ETFs use derivatives to hedge price movements as interest rates rise.  While these ETFs are a great idea, in theory, one problem is that much of your cost in buying these funds goes to the derivatives. Since these ETFs are manufactured and don't naturally occur, they can be quite costly. Try to avoid these synthetic tools in your investments.  Instead of using interest rate-hedged ETFs, you can look at purchasing TIPS (Treasury Inflation-Protected Securities) or I bonds. Another way to achieve the same goal is to build a bond ladder. Listen in to hear how a bond ladder works to see if that would be a good solution to building the bond portion of your pie cake.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:47] My recent win [4:46] My morning routine LISTENER QUESTIONS [7:52] Calculating a net worth statement [10:45] Are interest rate-hedged ETFs a good idea? [15:40] Where to put a lump sum payment so that you wouldn't have to pay the taxes all at once [17:35] Does the 5-year rule apply in a backdoor conversion? [20:12] The value of dividends as a source of income in retirement TODAY'S SMART SPRINT SEGMENT [24:20] Write it out – Today is the day… Resources Mentioned In This Episode Boomer Benefits Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

Today on Dough Roller, we are talking with Roger Whitney! Roger is The Retirement Man. His blog and podcast of the same name are legendary, and his mission is to help people shift what they think is possible in retirement by changing how they live, work, and celebrate what's possible in the present.  Roger is a 3 time PLUTUS award winner and author of Rock Retirement: A Simple Guide to Help You Take Control and be More Optimistic About the Future. He's been ranked by Investopedia as one of the most influential financial advisers for over 5 years, and he created the Rock Retirement Club, which is an online community which provides tools for others to build an amazing retirement. On the show today we talk with Roger about his firm Agile Retirement and their philosophies. We'll also learn how to overcome mental hurdles surrounding retirement planning and how to create your own unique retirement plan. If you've ever had any confusion around retirement, keep listening to this episode for some great advice! Calls to Action:    Follow Dough Roller on Linkedin: https://www.linkedin.com/company/dough-roller/ Follow Dough Roller on Instagram: https://www.instagram.com/doughrollermoney/ Follow Dough Roller on Twitter: https://twitter.com/doughroller Check out the Dough Roller website and blog: https://www.doughroller.net/     Timestamps:   00:00- Introducing Roger Whitney 01:44- Roger's firm, Agile Retirement 05:11- How Roger approaches retirement planning 14:10- Building a framework for your finances 20:46 - Narrowing down your planning priorities 24:59- Overcoming mental hurdles around retirement 27:53- Finding your personal perfect retirement number 42:13- Where to keep up with Roger     Mentioned in the Episode:   Roger's Website and Class- https://www.rockretirementclub.com/ Retirement Answer Man Podcast- https://podcasts.apple.com/us/podcast/retirement-answer-man/id834314596

Jim, Chris, and in-house CPA, Bob Palechek discuss tax specific questions relating to MDF spending, tax diversification, Roth conversions, and IRMAA. (3:30) A member of the Rock Retirement Club requests clarification on how we account for taxes in our Minimum Dignity Floor concept of funding a retirement spending plan. (16:15) George from North Carolina asks […] The post Tax Diversification, Roth Conversions, and IRMAA: Q&A #2208 appeared first on The Retirement and IRA Show.

We learned in the first episode of Retirement Plan Live that Joelle and her husband Mike had moved to a new area to pursue their retirement dreams. Joelle and Mike are now learning how to build community and purpose in their new home. Listen in to learn how Joelle plans to make social connections and find purpose in retirement as she creates her new life. The Rock Retirement Club is open The Rock Retirement Club will be open for enrollment for ten days starting on 1/27. If you have been thinking about joining, this is the right time to act.  We have implemented this short-term enrollment window so that new members can make connections with each other while working to build their retirement plan of record. This way, RRC freshmen can come in as a cohort and fully participate in their membership by taking full advantage of everything that the club has to offer. New members will participate in meetups and have access to the masterclass, retirement planning tools, and the private RRC podcast.  Even if you are too late to join this enrollment, fill out the application and get on the waiting list so that you will be first in line when enrollment opens again.  What will Joelle do with her time in retirement? Once you finally reach retirement you have to figure out what to do with all of your time. When Joelle moved to her new home in Washington she knew that she would need to find a way to fill 40 hours of her time that was previously spent working.  Joelle has found a new yoga and pilates class to keep fit and connect with others and through these exercise classes, she was even able to connect with a hiking group.  Exercise and connecting with others are important components of retirement. However, finding a purpose in retirement is even more important. Joelle understands that the success of her retirement hinges on finding a purpose which is why she sought out a nonprofit organization to volunteer with shortly after moving to her new home. Listen in to hear how Joelle found this organization and what she plans to do with her time in retirement. Making friends in a new place Moving to a new place can be challenging and when you do so upon retirement it is important to get involved in the community. Without workplace interactions, making friends is even more difficult than in the working years. Joelle has thrown herself into participating in her new exercise classes and volunteering with the nonprofit organization. Although she still doesn't have anyone that she can truly call a friend, she has several acquaintances with whom she is looking forward to making a deeper connection. Do you have any strategies for making friends in a new place? How will you expand your friendship base in retirement? OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE WITH JOELLE [1:30] What will Joelle do with her time in retirement? [10:18] Making new friends can be a challenge [16:09] Volunteering will give her a sense of purpose LISTENER QUESTIONS [19:13] Greg is worried that the Social Security system will run out of money [25:04] Strategies to improve the longevity of the Social Security system [27:20] How to find a retirement financial planner [29:58] Roth conversions vs. earned income [30:53] Where to find a retirement plan of record template [32:14] Using human capital and financial capital to retire early and receive ACA credits [36:07] Health savings account beneficiaries TODAY'S SMART SPRINT SEGMENT [38:44] Think about your strategy to create community and connections in retirement Resources Mentioned In This Episode RetireAgile.com LiveWithRoger.com BOOK - How to Begin by Michael Steiner Bungay Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

Do you have a net worth statement that you update regularly? Whether or not you do, you'll want to learn about the psychological benefits that this exercise can create. In this episode of The Retirement Answer Man show, we'll discuss what a net worth statement is and how you can gain from creating one regularly.  You'll also hear several listener questions that range from inherited IRAs to I-bonds, to SPIA annuities. If you are interested in rocking retirement, you'll need to arm yourself with the knowledge to help you navigate this change in life. Listen in to get started on your retirement education journey.  A Rock Retirement Club announcement If you are looking to join the Rock Retirement Club you can sign up for the waiting list until we open enrollment again in late January. We closed enrollment in early December to restructure the club a bit and introduce periodic enrollment so that new members can be a part of a cohort. This will help freshmen members to take full advantage of their membership as they work their way through all the benefits that the club provides. If you are interested in checking out the Rock Retirement Club, head on over to the website and join the waiting list to receive the latest email updates.  What is a net worth statement? If you have listened to the Retirement Answer Man show in the past, then you already know that a net worth statement is a statement of the resources you have accumulated with your wealth.  Your net worth statement lists all of your assets and their values and your debts and their values. Assets like your retirement accounts, investment accounts, or property are listed on the left side of the net worth statement. These assets can be categorized by whether they are tax-deferred, after-tax, or tax-free accounts. On the right side is the debt column. Total each column up to see the value of each. Once you do that you'll subtract the debts from your assets and have your net worth.  Creating this valuable financial tool is a way to understand the cumulative impact of the financial decisions you have earned. Do you have a net worth statement that you update regularly?  The 5 ways you can use your income Since there are only 5 things that you can do with your income, your net worth statement reflects those financial decisions that you have made. These are the 5 ways that you can use your money: Spend it.  Pay down debt Give it away. Save it as cash in an emergency fund. Invest for the future. For every dollar you have earned you have made a decision (whether consciously or unconsciously) to do one of these 5 things, so your net worth statement is a reflection of these choices.  Creating a net worth statement provides a psychological impact By updating your net worth statement periodically you'll be able to compare how your finances reflect your values and whether you are using your finances to stay in line with your goals. If you identify any incongruencies then you can address the behavior before it gets out of hand.  Have you ever put together a net worth statement? When was the last time you updated it? As a rule of thumb try revisiting it every 6 months. Make sure to listen to the next episode to hear my word of the year! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [1:56] What is a net worth statement? [4:50] Creating a net worth statement provides a psychological impact LISTENER QUESTIONS [11:21] You can work with LTCI Partners directly [14:45] Mike asks if I-bonds are a no-brainer [20:12] Examples of how people have blended retirement with meaningful work [24:28] A comment about SPIA annuities [32:25] Alternatives for the fixed income portion of assets in retirement  [35:27] Navigating the changes to the inherited IRA RMD rules TODAY'S SMART SPRINT SEGMENT [37:51] Consider creating experiences rather than giving gifts for the holidays Resources Mentioned In This Episode BOOK - Retirement Planning Guidebook by Wade Pfau Wade Pfau - Retirement Researcher TreasuryDirect.gov LTCI Partners Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

You have probably heard me refer to a retirement plan of record in the past few episodes, but you may be wondering what exactly this is. I have had several listeners reach out and ask me to define this term, so in addition to hearing listener questions, today you'll learn exactly what a retirement plan of record is and how it can help you plan your retirement. Press play to check it out. What is a plan of record? The retirement plan of record is something that I work on with my clients and I am in the process of developing a template that will be available in the Rock Retirement Club masterclass. This plan of record will help you create a current representation of your decision-making framework so that you can walk through a decision-making process in an organized way.  Why is it important to have a plan of record There is so much to consider in retirement planning--asset allocations, withdrawal rates, Roth conversions, IRMAA, taxes, not to mention who your friends will be and what you're going to do all day. With all of these considerations, it is easy to become overwhelmed by the choices if you don't have an organized way to make decisions. Without a clear direction, your decision-making process could have you bouncing around like crazy.  The 3 pillars of the agile process When creating a retirement plan of record, it is important to organize your financial goals into 3 pillars so that your plan can remain agile. First, develop a feasible plan, then, make it resilient, and lastly, optimize your plan. If you can arrange your decisions under these 3 pillars, then you can think through the process in an organized way.  A retirement plan of record can ensure that your decisions reflect your values and goals. You'll be able to create feasible spending goals based on your resources. Your plan needs to be resilient so that you can manage risks.  Once you have your plan of record in place then you can work through each decision while referring to your plan. You'll be able to see the changes you are considering within your organized process and create a what-if scenario by making a copy of your plan of record and adjust accordingly. This way you'll be able to flush out the implications of this new variable so that you can examine the decision in a thoughtful way.  The plan of record is a useful tool to accomplish organized thinking that you can execute in a consistent rhythm so that you can stay agile and make the most of your life regardless of what happens. Your plan of record allows you to focus on what you can control. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [3:50] What is a plan of record? OUR SPONSOR [12:22] Check out LTCI Partners for your long-term care insurance needs LISTENER QUESTIONS [13:31] Lee is worried about inflation--should she work longer? [22:05] Thinking about Social Security claiming strategies [28:18] How IRMAA surcharges work each year [33:26] How to deal with switching from an HSA to Medicare [35:32] Filling up tax bracket buckets TODAY'S SMART SPRINT SEGMENT [39:03] Review your retirement contributions to make sure you are hitting the numbers you want Resources Mentioned In This Episode Episode 385 - The 4% Rule Episode 395 - Retirement Risk Basics Check out LTCI Partners for your long-term care insurance needs Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

Ever since listeners enjoyed our Retirement Tax Management series with Andy Panko we have received an influx of questions surrounding taxes. I'll answer several questions today about filling up your tax buckets.  I'll also respond to queries about planning when to take Social Security when you will have excess RMDs and how to incorporate balanced funds into your asset allocation. Don't miss this episode if you still have burning tax questions left over from last month's series on retirement tax management.  The Rock Retirement Club has so much to offer The Rock Retirement Club recently hosted the Retirement Rodeo Round-Up in Fort Worth, Texas. I was so impressed by the levels of motivation and excitement that I saw from the participants. Everyone who attended was excited to share their knowledge and learn from each others' journeys so that they could make the most out of their retirement.  Have you considered joining the Rock Retirement Club? If so, or even if you just want to learn more about it, check out the virtual open house that we're having on November 16. At the open house, you'll get a sneak peek of the Club's Retirement Master Class and preview member tools like Everplans and the New Retirement Planner Plus calculator. The open house will be a great way to decide whether the RRC is right for you. Register for this event at LiveWithRoger.com. Are you having trouble overcoming frugality? One common concern from the participants at the Retirement Rodeo Round-Up conference was the challenge of overcoming frugality. Like many Retirement Answer Man listeners, RRC members are amazing savers, but after saving and delaying gratification for so many years it is hard to break the habit.  There is a mental shift that must take place to switch from saving to spending and shifting your mindset can be difficult. Instead of watching your accounts grow, you now see them stay stagnant or decrease over time and this can set off alarm bells in your mind. Have you experienced difficulty navigating this change? What did you do to shift your mindset from saving to spending? When should Jenny claim Social Security? Jenny has been a diligent saver and will end up having excess RMDs. This issue has caused her to think about the most beneficial time to claim Social Security. She is considering taking Social Security at age 62 to lower her income, but I have another strategy for her to consider. Listen in to hear my thoughts on what you should do if you have substantial projected RMDs.  How to fill up your tax bracket bucket in retirement One of the strategies that Andy Panko and I talked about last month in the Retirement Tax Management series was filling up your tax bracket. When filling up your tax bracket you'll want to take funds from your IRAs or other tax-deferred accounts and either spend that money, invest it in after-tax assets, or convert it to a Roth IRA. Work out the best situation for you by creating a retirement plan of record and then test different outcomes. Have you created a retirement plan of record yet?  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS [2:40] It takes a big mental shift to stop saving and start spending [4:01] How much to allocate to asset allocation if you have balanced funds in your portfolio? [7:05] How Social Security works with RMDs [13:10] How to fill up the tax bracket bucket [15:15] What to do with the money that you fill up your tax bracket with [16:26] Scott really enjoyed the episodes with Tanya Nichols TODAY'S SMART SPRINT SEGMENT [17:10] Calculate your projected income for 2021 Resources Mentioned In This Episode Register for the Rock Retirement Club's virtual open house at LiveWithRoger.com Tanya Nichols with Align Financial Check out Tanya Nichols in the Women in Retirement series - Start Here Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

When you hear financial lingo do you immediately begin to tune out? Does retirement planning make you nervous? If so, this is the right series for you. You're listening to a 5-part series on retirement planning specifically designed for non-planners.  The goal of this series is to educate you on retirement planning without all of the confusing lingo. We're going to keep it simple and focus on teaching you the most important aspects of retirement planning. If you haven't listened to episode 393, go back and check it out so that you can understand how to begin planning for retirement.  You only need to focus on the important aspects of retirement planning There are many retirement planning geeks out there that love to focus on the economy, markets, and business cycles. They relish mapping out different Roth conversion scenarios to reduce their RMDs. But if you aren't a planning geek, talking to those people can make retirement planning seem overwhelming.  You'll be happy to learn that to successfully plan for retirement you don't need to have a degree in economics, you just need to make sure that you focus on the most important things. That is what we are doing here today. I'm here to help you understand what the most important aspects of retirement planning are.  Can your retirement dreams come true? During the previous episode, you created a vision of your ideal retirement. Now it's time to see if you can make your retirement dreams a reality. The biggest question everyone has in retirement planning is will I run out of money?  The answer is, no one knows. The economy, life's surprises, and people's perpetual habit of changing their minds make it impossible to be sure. There are too many unknowns to be certain about the future. However, it is okay to have that uncertainty.  If you can get a good approximation of a retirement plan then you can make adaptations to your plan as life unfolds. I use agile retirement management to help my clients make adjustments to their retirement plan when life shocks or bad markets disrupt their plan.  Where will your retirement income come from? When planning your retirement you'll want to consider the income you will receive from Social Security, pensions, or even part-time work. The rest of your retirement income will need to be covered by your retirement savings.  There are many software tools that can help you plan your retirement. It is important to use a retirement calculator to estimate how much money you will need to live out your retirement dreams. In the Rock Retirement Club, we use the New Retirement Plus Calculator. A retirement calculator can give you a long-term projection of your retirement income needs.  Have your first 5 years of retirement income readily available While retirement planning software can help you plan out the long-term, you'll want to understand where your money is coming from in the near term. You should have the next 5 years of spending readily available in accounts that aren't exposed to the winds of the economy like money market accounts or CDs.  Listen in to learn what the most important aspects of retirement planning are so that you don't get worried about getting caught up in the small details that don't matter as much.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:51] Can you safely pay for your dream retirement? [6:55] Where will your retirement income come from? [13:45] Recheck your retirement compass periodically LISTENER QUESTIONS [19:31] Does it make sense to make after-tax 401K contributions? [23:14] How to estimate MAGI for an IRMAA appeal? [28:12] Can you start Social Security benefits from one spouse early and then wait for the other spouse's benefit? [29:35] Should I open a non-retirement account? TODAY'S SMART SPRINT SEGMENT [33:45] Understand the resources you have available to use in retirement Resources Mentioned In This Episode NewRetirement.com Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

Episode 15: Roger Whitney 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 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. 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).In today's episode, Roger talks about what it means to be a conscious entrepreneur. He also shares an inside view on how you can make money by making a difference and how balancing your lifestyle can let you have a life both before and during retirement.What's Next?Do you still believe that retirement is a “magic number”? Share your stories with us at info@seniorityauthority.org or find us on your favorite social media platform.Links:Roger's website: www.rogerwhitney.com

We have given the entire month of August to the ladies! Since this is the last Wednesday in August, it is the last episode that we are dedicating to the theme of Women, Money, and Retirement. However, that doesn't mean we're going to stop taking questions from women. This is simply the last episode to focus solely on women's questions. We want to ensure that no matter who you are, you have the confidence to rock retirement.  Make sure to come back next month for the series, Retirement Planning for Non-Planners. This series will speak to those who have little interest in retirement. That means we'll take out all the jargon and focus on the basics of what you need to know. Even if you don't want to dive into the day-to-day details, it's important to have an understanding of how to build a retirement plan. If you have any questions related to this theme please ask them at RogerWhitney.com/AskRoger.  What does it mean to put the “I” in retirement? We're closing out this month with an episode titled, How Do I Put the I in Retirement? But what does the I in retirement really mean?  Over the course of the retirement planning process, most people focus on their financial situation, but it is more important to understand what you want to do in retirement. When planning your retirement, you are planning the next stage of your life and you have the opportunity to remake yourself to be anything you want. This is a fantastic time to uncover your deepest desires and make your voice heard.  Live a life true to yourself The most common regret that people have at the end of their lives is that they wish they had lived a life true to themselves. Many people simply do what is expected of them without ever thinking about what they want for themselves.  Retirement is a fantastic time to set aside what others expect of you and explore what you genuinely want to do.  Since the human condition tends to work in moderation, sometimes you have to peel away the layers to get to the bottom of what you want. Don't stuff down your needs, dig deep to discover your true self. Have you lived a life true to yourself or do you have a hard time voicing your desires?  How to define what you really want Peeling back the layers can be a challenge, but to live a life true to yourself you'll have to define what you want out of life. If you don't voice your desires you'll never be able to achieve your dreams.  Think about what you have always wanted to do that you haven't had the time or space to think about. If you don't have a clear vision yet, that's okay, take the time to consider this question with wide-eyed curiosity. Retirement is a time of experimentation, so if you haven't completely defined what you want you'll soon have an opportunity to further explore your desires.  If you have a partner, explore this question with them in little conversations over time. Those little conversations can lead to big ideas and create the space to open up a world that you might not have dreamed of before.  Once you have dreamed up your ideal retirement then you can see how your financial situation fits. You don't want to go at this from a different perspective. First dream big, then work your retirement plan around your dreams.  Why join the Rock Retirement Club? The Rock Retirement Club has everything you need to create your retirement plan. When you join the club, you'll gain access to education and tools to help you build your own plan.  Not only that, the club gives you access to a team of professionals that are dedicated to helping you rock retirement.  Last, but certainly not least, you'll become part of an amazing community. The RRC is filled with a community of like-minded people who all want to rock retirement. When walking through a huge life change it helps to connect with those who are a bit ahead of you on the same journey. Come check out what the Rock Retirement Club is all about.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [5:40] What does the I in retirement mean? [13:15] You have to speak up and voice what you want LISTENER QUESTIONS WITH TANYA [19:20] What should you be doing within 6 months of retirement? [20:55] Making decisions immediately after the loss of a spouse [22:52] How to balance the load of caregiving [28:14] How to divvy up parental support between siblings [33:22] How to bring up retirement planning without the jargon [35:13] How to deal with an unexpected divorce in retirement TODAY'S SMART SPRINT SEGMENT [43:35] How will you put the “I” in retirement? Resources Mentioned In This Episode Thinking Ahead Roadmap BOOK - Moving Forward on Your Own by Kathleen Rehl BOOKS - Suddenly Single Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

Women ask many types of questions that men don't, which is why we're dedicating this entire month to a series on women, money, and retirement. This series gives you the space to dig in, have your voice heard, and your questions answered.  You're listening to the 3rd episode in this series and today we'll be answering so many of your questions. Tanya Nichols from Align Financial joins me once again to add her womanly input and expertise.  There are a lot of women out there with similar concerns. Are you one of them? Find out if your burning questions about retirement have been answered on this episode of Retirement Answer Man. The Rock Retirement Club can help you build confidence in your retirement plan Are you looking for a way to build your confidence in your retirement plan, or maybe you're just looking for ways to create a retirement plan. If so, the Rock Retirement Club is the right place for you.  The RRC provides you with everything you need to educate yourself to build your retirement plan, allowing you to rest easy. By joining the RRC you'll have access to on-demand courses, education, and tools so that you can learn what you need to know to rock retirement.  Join now to gain access to this information and our knowledgeable team of experts. In the clubhouse, you can ask questions from our experts and enjoy conversations with hundreds of more people who are riding the same retirement wave. The Rock Retirement Club is a great place to share inspiration and get ideas to create the retirement of your dreams.  Should single women with no children consider long-term care insurance? Several women have asked about long-term care insurance. Navigating long-term care is a major concern for women that have no close family or children. They see long-term care insurance as a way to help pay for their care when they may no longer have the capacity to represent themselves.  When looking for a long-term care insurance plan, be sure to specifically look for a plan that features a care navigator. Another possibility is to hire a care navigator out of pocket who only works for your interests. This representative can help you navigate the system so that you know that you will be cared for.  Long-term care navigators are an emerging field, so it can be hard to find someone that specializes in this industry. One way to find this type of representative is to talk to long-term care providers or even your state health department. Have you ever considered hiring a care navigator for your declining years? What kind of questions do you have about retirement?  In this episode, we answer many of your listener questions like what is the difference between a trust and an estate, how to prepare to deal with financial issues during cognitive decline, where to get cash from during the go-go years, the best way to navigate healthcare before Medicare, and many more. Listen in to hear if your pressing questions have been answered. If you have any more questions that weren't answered in this episode, make sure to join the live meet-up on August 26 at 7 pm CDT. This live webinar will be about an hour long and I'll be joined, once again, by the lovely Tanya Nichols. We'll answer your questions live in real-time. These webinars provide a relaxed atmosphere where you can learn the answers to your questions and maybe even hear answers to questions that you haven't even thought of yet. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS WITH TANYA NICHOLS [5:30] Don't miss the live meet up on August 26 at 7 pm CDT [6:37] Long term care insurance for those with no close family [11:00] Trust vs. estates [11:50] How to deal with financial issues during cognitive decline [16:11] Where to take cash from in the go-go years [19:02] How to navigate healthcare before Medicare [26:35] How do you calculate the 4% rule? [30:28] Spend less money than you make [32:07] What to look for in a bond TODAY'S SMART SPRINT SEGMENT [37:22] An update on my smart sprint from last week [41:13] Look at your net worth statement history Resources Mentioned In This Episode Align Financial Don't miss the live meetup on August 26 at 7 pm sign up here Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger's Retirement Learning Center

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

Do you love coaching but yearn to use your other gifts and skills as well? In this installment of our Diversified Coach series, you'll meet Mark Ross, a professional coach who is successfully coaching while at the same time multiplying his impact and income in a variety of ways. Listen in today for ideas and inspiration you can integrate into your coaching business.   Discover:   How to do what you really want to do   Opportunities for Kingdom work through serving people   Creative ways to build a life and business you love     About Mark Ross:     Retired Executive. REWIRED Encorepreneur—Pursuing the Life and Work that matters most in the second half! Mark is the owner of Next Thing Group, an Artist, Landscape Architect, a Certified Professional Life, and Leadership Coach, is credentialed with the International Coach Federation, and holds several other related certifications. Mark also serves as a Team Host with Rock Retirement Club.   Get the “7 Powerful Questions for Midlife Career Changers” free at www.NextThingGroup.com   Contact Mark at Mark@nextthinggroup.com

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

Jim and Chris welcome special guest, Kevin Lyles, from the Rock Retirement Club to discuss whether to work and where to live in retirement. The post Whether To Work and Where To Live In Retirement: EDU #2121 appeared first on The Retirement and IRA Show.

When it comes to rocking retirement, there's more to it than just financial planning!  This week's guest on the podcast is my good friend, fellow podcaster, author, and "Retirement Answer Man®," Roger Whitney. Roger was classically trained as a retirement planner, but over the years, he's learned and now inspires others through his podcast and Rock Retirement Club to believe that retirement is really more about creating a great life!  In this episode, Roger shares about the joy of– Living fully in "pre-tirement" and retirement Embracing confidence today to have security tomorrow Enriching communication and rhythms with your partner in seasons of BIG changes Working for fun instead of accumulation Retaining power by taking bite-sized steps Rocking retirement is all about creating a great whole life–and that certainly includes financial wisdom, but it's so much more! Connect with Roger Whitney: The Retirement Answer Man® Podcast Rock Retirement Club Rock Retirement: A Simple Guide to Help You Take Control and be More Optimistic About the Future  Roger Whitney, is the Retirement Answer Man®. As a Certified Financial Planner for more than 25 years, he uses his credentials (CFP®, CIMA®, CPWA®, and more) and every channel possible to help people live well today without sacrificing tomorrow. REALIFE RESOURCES REALIFE Process Facilitator™ Certification If you're looking to go deeper personally in your REALIFE and have the desire to serve others and multiply your impact, check out the REALIFE Process Facilitator Certification! We've recently rolled out some upgrades to our REALIFE Process Facilitator Certification! Instead of just ONE Certification, you'll receive DUAL Certifications–both as a REALIFE Process Facilitator™ and as an ©iEnneagram Motions of the Soul Certified Practitioner. If you're looking for content to use with clients, coaching to keep your skills sharp, and community, check out our facilitator program. Click here for more information.  REALIFE Process Retreat™ - April 15-17  Location: The McCloy Farm in Mason, IL Are you ready to create your 90 Day Actionable Plan to manage your whole life? You want to be in control of your calendar, increase your income, improve your health, enhance relationships, and live your best REALIFE! Join us for an in-person REALIFE Process Retreat™ weekend April 15th-17th for Faith-Based Life & Leadership Coaches, and Entrepreneurs. Click here for registration information: REALIFE Process Retreat™. Retreats are limited to 10 participants! LIMITED TIME BONUS OFFER– Register for the REALIFE Process® Retreat by March 15th–Receive 3 FREE Months of our Group Coaching Program, REALIFE Circles Community™. REALIFE Circles Community If you're ready to take a deeper dive and would benefit from being in community as you practice and build your REALIFE Process®, check out our newest opportunity for group coaching, community, and content–the REALIFE Circles Community.  Through our REALIFE Circles Community, you'll connect with others desiring personal growth, experience group calls, quarterly coaching, walk through the entire 4 Step REALIFE Process®, receive discounts on our retreats, and more!  Support the Podcast–Leave us a Review Are you growing as a result of listening to the podcast? The greatest compliment you can pay us is to share it with a friend and leave a review on iTunes. Click here and scroll down to Customer Reviews to leave a word on what you've found to be helpful as you're listening in! Have a question for the podcast?  Email us at podcast@therealifeprocess.com and we'll address your question on air!  Connect further with the REALIFE Process®: Join the FREE REALIFE Process® Community - continue podcast topics discussions with Facebook LIVEs and guest interviews Connect with the REALIFE Circles Community Apply to be a REALIFE Process® Certified Facilitator Connect with your host, Teresa McCloy on: Facebook- The REALIFE Process® with Teresa McCloy Instagram- teresa.mccloy LinkedIn- teresamccloycoach About Teresa McCloy: Teresa McCloy is the creator of the REALIFE Process®, an ACC Executive Coach, and an IEA Accredited Enneagram Professional who helps entrepreneurs, business owners, and leaders discover and live out their best REALIFE! She has worked with clients from all over the world to help them bring clarity to their REALIFE and joy to their REALWORK!

The agile financial planning method creates a fluid, ever-changing environment so I need organizational systems in place that can adapt to constant change. People wonder how I manage to get it all done. I have 2 podcasts, my financial practice, client meetings, the Rock Retirement Club, plus, I'm writing a book. Many people think that there is no way that they could ever have time to balance all of these things. But even though I do have a lot of balls in the air, the organizational systems I have in place ensure that I get it all done. Find out how I manage it all on this episode of The Agile Financial Planner.  Outline of This Episode [4:02] How I get it all done [10:11] We have rules of engagement to get everything done [17:51] Why this works for me Do your organizational systems ensure that you are spending time or passing time? On the previous episode, we talked about time. We're either spending time or passing time. I feel that if you aren't intentional about how you spend your time it will simply pass you by. The organizational systems I have in place help me ensure that I am not just passing time, but spending it intentionally.  It has taken me years to develop the systems that I have right now. But when implemented properly, my days and weeks flow smoothly. I love technology, but I don't live in it. I use a combination of digital and analog systems that help keep me on track. My digital life I actually spent years searching for the perfect project management tool that would meld the different areas of my life together. I was looking for that unicorn, a place where I could seamlessly integrate everything, but I finally came to terms with the fact that that ideal system simply doesn't exist for me. So now I embrace the separateness. My project management systems are purely digital. I actually use 3 different project management suites. This may seem excessive to you, but I see these different locales as being suited for the separate areas of my life. Listen in to find out why having 3 different project management suites actually helps keep me more organized.  My analog life In addition to the 3 online project management tools, I use 3 separate notebooks to help me plan my life. Michael Hyatt's Full Focus Planner helps me plan my days and weeks. I also have a client notebook which is highly organized where I keep an analog record of my client meetings. Without this tool, I wouldn't have a clue what was said in each meeting. The notebook I use helps me prepare for meetings and remember where I am in the organizational process. Listen in to hear how I keep the details straight and set the agenda for my client meetings.  Slow is smooth, smooth is fast All of these separate organizational systems may seem cumbersome to you in this ever-increasingly digital world. But the fact that my processes slow me down makes me more effective. I use my organizational systems to keep me in check and ensure that I am serving my clients in the best way that I can. When I slow down things run more smoothly and I feel more in control of my life. What do you use to help keep you organized? How do you run your life? Resources & People Mentioned Michael Kitces blog article on agile planning Retirement Management Forum Redtail Asana Slack OmniFocus Michael Hyatt's Full Focus Planner Connect With Roger Whitney www.RogerWhitney.com Roger @ FinancialPlannerFreedom.com  Roger on Twitter: @Roger_Whitney Subscribe to The Agile Financial Planner Podcast Click here and choose your preferred app Audio Production and Show notes by PODCAST FAST TRACK

In this episode, we talk about how we can set our investments up so that we can live off them in retirement (whether it's a traditional retirement or early retirement). We also cover the important subject of how to stress-test our investment portfolio so that we can help ensure that we don't run out of money in our retirement. You can also use these tools to see (approximately) if you actually have enough to retire now (or to see how much more you need). New Tool: Get Your Credit Score Checked for Free A big thanks to Borrowell for sponsoring the show and for building such a great free tool that we can use to check our credit score. It has saved me a lot of time when I want to quickly check the status of my credit score (for example, to ensure there has been no fraud or identity theft in my accounts).  You also obviously want to make sure your score is as high as possible for any mortgages or other loans that you end up applying for (to ensure you get the lowest rate and get approved).  Even if you aren't looking for a loan, I ecourage you to at least pull your report for free to help ensure that there are no unauthorized transactions on your accounts. As a best practice, you should be doing this kind of check at least annually.  Thanks again Borrowell for building a tool where we Canadians can finally get access to this data quickly and for free.  Other Resources from the Episode: Top Tools and Resources for Financial Independence (for Canadians): All the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments.  Canada's Top ETFs Guide & Top High-Interest Savings Account: In the guide, I go over what I personally invest in and why I invest in it. The investments that I talk about ​are literally where we have almost our entire net worth (apart from our house), and is what we are primarily living off right now in our early retirement. At the very least you'll learn about some great ETFs to consider for your portfolio, and if you are new to ETFs, it'll give you a nice list of some top ETFs to consider from the thousands that are out there.  The guide is available for free to any listeners that that use this link to sign up for a free savings account with the bank that I personally use, EQ bank.  The reason that I personally use EQ bank, is that they have one of the highest interest savings rates in Canada (they are currently offering 2.3% which is more than double what the major banks are offering). It's also free to sign up and keep an account with them, so you're not paying a monthly fee like you do with many of the other banks out there. You also get unlimited transactions, unlimited Interac e-transfers, and can take out your money at any time if you need it, and there are no minimum balances. Because of those reasons, I've been with them ever since they launched in Canada years ago, and it's where I keep my entire emergency fund and spending money.  To get the free high-interest account and the free guide on the top ETFs in Canada, just go to buildwealthcanada.ca/eq, open the free account, and once you're done, forward any email that you get from EQ to bonus@buildwealthcanada.ca and I'll send you the full comprehensive guide for free.  Roger's Amazing Educational Resources: Roger's Rock Retirement Club (applicable to Canadians) Roger's Main Site: Retirement Answer Man Roger's Podcast: Retirement Answer Man Podcast Free Monte Carlo Simulation Tools: To help ensure that you have enough to retire, we talked a lot about Monte Carlo analysis. Below are three tools that I use where you can run Monte Carlo simulations for free: cfiresim.com firecalc.com portfoliovisualizer.com Questions Covered: Let's say you created a comprehensive financial plan with a client. You give them the green light to retire and they do so. A year later, we run into a 2008 scenario, or a large stock market decline. When you do your annual/semi-annual review with the client, what's the process that you go through to determine if they are still okay, or if they need to make some adjustments? I've noticed that you're a heavy user of Monte Carlo simulations to stress-test whether someone has enough to retire. For somebody that hasn't heard of this before, can you explain what it is? There are free tools out there like Firecalc.com and cfiresim.com that let people run their own Monte Carlo simulations to see if they have enough to retire. Do you have any advice when using tools such as these? For example, are there any common mistakes that you see people do when using them? I noticed that not all financial planners and financial planning software do Monte Carlo stress-tests like do. The most common alternative that I've seen, is that in the financial planning software, the financial planner just enters what rates of return they expect the client to receive for the different years when doing the retirement projections. When using this alternate method, how should listeners of the show ensure that their financial planners are stress-testing their retirement projections to ensure that they still have enough to retire, even if they hit a major recession shortly after retirement? (i.e. They get hit by a bad sequence of returns) After listening to your podcast for years, I got the sense that you are a fan of the bucket strategy. Can you explain what it is, and can you talk about the default bucket strategy that you like to start with, and then how do you adjust it depending on the client? Do you subtract dividends/interest from that “annual expenses” figure when determining how much cash/fixed income to have? Do you have some sort of rule/process when it comes to refilling the buckets. For example: “If X happens in the markets then I'm selling off equities to generate cash to live from. If Y happens then I use a cash cushion or the bond portion and I refill it when markets are up by a certain percent”? How would your bucket strategy differ when dealing with a traditional retiree (ex. Age 65), vs an early retiree (ex. Age 30s or 40s) Do you have a preferred way(s) of helping clients deal with sequence risk? (please define it too for those that are new to this)  When you're working with clients and strategizing on what should be in the fixed income/safe portion of their portfolio, how do you determine how much they should put into bonds vs a high-interest savings account vs GICs (GICs are the US version of CDs)? Are there certain rules or processes that you like to follow to determine this? A lot of the listeners of this show are do-it-yourself investors, and you've built a really great on-line community of do-it-yourself retirees as part of your Rock Retirement Club. Can you tell us more about the Rock Retirement Club, as well as a bit more about your podcast and where we can learn more from you?