The Challenges of FIRE

Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Lifeplanning, Retirementplanning, Financialplanning, Saving, Careerplanning, Self-improvement, Education, Retirementpodcast, Investing, Business, Investmentmanagement, Retirement

4.7 • 1.1K Ratings

🗓️ 21 February 2024

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Over these past few weeks, we have been discussing the FIRE movement with Kevin Sebesta, a coach in the RRC who achieved FIRE some time ago and has been rocking retirement ever since.

This week Kevin helps me explore the challenges that retiring early can bring. Listen in to hear if these are similar to the issues you face in retirement.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

[4:58] The challenges of leaving traditional work early
[10:55] Healthcare is one of the challenges
[17:28] The non-financial challenges of FIRE

LISTENER QUESTIONS WITH ANDY PANKO

[27:44] Which Social Security benefit should we take?
[31:28] Relating to working with a bad financial advisor
[36:47] What to do with an overfunded whole life insurance policy
[43:07] How are IRMAA surcharges calculated?

TODAY’S SMART SPRINT SEGMENT

[47:55] When you’re in a disagreement with someone, step out and reset yourself to gain perspective

Resources Mentioned In This Episode

Retirement Planning Education podcast

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Transcript

Click on a timestamp to play from that location

0:00.0	The show is a proud member of the Retirement Podcast Network.
0:03.6	Quick note before we get started here, every morning when I wake up and start my day,
0:08.2	I reread the mission of this podcast and everything that I do, and it is to empower people
0:12.4	to rock retirement, and sometimes I and we can
0:15.6	distract from that and we think we did that in the rock life segment on
0:19.7	health on supplements I want to chat with Bobby real quick so we can clear that
0:23.5	air so we can get on to helping people rock retirement. So what are we
0:26.2	talking about here, Bobby? What do we want to clean up? Well I used to turn a
0:30.0	phrase that was really inappropriate and I regret that and apologize. I was talking about
0:35.5	testing supplements in military recruits and refer to them as laboratory rats, which is an awful turn of phrase, and sort of adds to kind of a long-standing
0:47.4	concern in the military that they're often being asked to be just that.
0:51.9	So I appreciate the feedback from listeners and I always reflect upon what you say. I may not say things as properly as possible and I may get some things factually wrong. I aim to hit the mark when I don't please let me know.
1:06.0	Yeah, thanks for all the emails that we got on this. We listen just like we have our current survey going on. So thank you and let's go on to helping you
1:14.2	rock retirement. When you are angry you will give the most incredible speech that you ever
1:20.8	regret. William Urey.
1:25.0	That quote has nothing to do with today's show,
1:29.0	but I thought it was incredible when I heard it,
1:32.0	so I wanted to share it with you.
1:34.0	Hi there my name is Roger Whitney welcome to the Retirement Answerman
1:37.2	Podcast. By day I am a practicing retirement planner with over 30 years
1:41.4	experience and founder of agile retirement
1:44.1	management the process. This podcast is my lab to noodle on how to not just
	...

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