Retiring Single with Tanya Nichols, CFP
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®
4.7 • 1.1K Ratings
🗓️ 1 January 2025
⏱️ 37 minutes
🧾️ Download transcript
Summary
💬 Show Notes
Welcome to 2025! In this episode, we kick off the new year with Tanya Nichols from Align Financial to discuss the unique considerations of retiring single with no children. As part of our January series, Retirement Plan Live, we explore the journey of two individuals, a man and a woman, both navigating retirement alone. From planning for legacy and financial security to building a supportive social network, we delve into the complexities and opportunities faced by singles at or near retirement. Join us as we unpack the essentials of retirement planning for singles and set the stage for the month-long exploration of their stories.
PRACTICAL PLANNING SEGMENT
(00:00) The show is dedicated to helping you not just survive retirement, but have confidence
(01:20) This January, we're focusing on two individuals facing retirement as a single person with no children.
(04:02) Tanya Nichols from Align Financial discusses retirement planning for single people
(05:30) 90% of the journey is the same but there are just slightly different considerations.
(07:15) If you're single and facing retirement, what are some things that are overlaying on top of the normal planning process?
(10:20) I think another thing that’s missing is having a thinking partner to exchange ideas and worries with.
(12:35) It’s very difficult to make a new, old friend.
(15:48) You have to be intentional about making connections and building a network of support.
(17:32) When we think about the future, we think about long term care but one thing we don't think about as much is who is going to help with the day to day.
(20:35) As you're single and retiring does this lean towards a safety first approach in terms of taking money that you have and turning on guaranteed income?
(22:15) As you’re aging by yourself, sometimes you are not aware of cognitive issues.
(23:30) Even if you are married, there will be a point in your life where one of you are single
LISTENER QUESTIONS
(24:51) Lauren asks about a new mortgage product that merges your mortgage with your personal banking.
(27:31) Jim asks about tracking down old 401ks.
(30:04) Greg asks a question about being the tax preparer for the family and his aging mother.
SMART SPRINT
(34:10) In the next seven days I want you to establish a file for year end statements from all of your accounts and any tax information you get from those providers.
BONUS
(35:23) Roger reads another excerpt from his grandfather's WWII journal.
REFERENCES
Align Financial- Tanya Nichols
https://www.align.financial/tanya-nichols/
Roger Whitney
Book- Gospel of Wealth by Andrew Carnegie
https://www.carnegie.org/publications/the-gospel-of-wealth/
Mark's Money Mind Podcast
Life Changer Loan
Show notes created by https://headliner.app
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The show is a proud member of the Retirement Podcast Network. |
| 0:04.3 | Stay single until someone actually complements your life in a way that makes it better to not be single. |
| 0:14.2 | Unknown. |
| 0:17.2 | Welcome to the show dedicated to helping you not just survive retirement, but to have the confidence because you're doing the work to really lean in and rock it. |
| 0:26.3 | And it's having that confidence, which is key, knowing that you can do it, feeling empowered. |
| 0:32.7 | Welcome to 2025. |
| 0:35.8 | It's the first football day, hangover day. Maybe for some of you, not me. Welcome to |
| 0:43.9 | 2025. Hangover day. I don't know why. That's kid stuff. I'm excited about 2025. I'm excited |
| 0:51.2 | about January. We're going to face challenges this month and this year, |
| 0:55.9 | but we're still going to have a great year because we're going to be intentional about it. |
| 1:00.8 | We're starting off the year in a way I like, and that is by talking with Tanya Nichols about |
| 1:06.8 | retiring single, and that's kicking off this month's series of our retirement plan live. |
| 1:15.6 | This is our live case study. We always do it in January. This January we're focusing on |
| 1:22.5 | not just one, but two individuals that are at or near retirement, single with no children. |
| 1:30.2 | So they're facing a different type of retirement. |
| 1:33.0 | And we're not just looking at one person. |
| 1:35.6 | We chose someone and we're like, |
| 1:37.4 | wouldn't it be great to have a male and a female perspective of the, |
| 1:42.1 | and how they perceive things, |
| 1:43.9 | what they're excited about, what they're worried |
| 1:45.4 | about. I think that would be a great contrast. Maybe they're identical. We'll find out together |
| 1:51.9 | over this month. So here's how the month is going to work. Today we're going to talk with |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Roger Whitney, CFP®, CIMA®, RMA, CPWA®, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Roger Whitney, CFP®, CIMA®, RMA, CPWA® and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.