Retirement Answer Man

💬 SHOW NOTES In this episode, we explore the implications of the saying 'nothing is for free' in the context of retirement planning. Join Roger Whitney, a seasoned retirement planner, as he shares a heartfelt story from a listener, David, who exemplifies the spirit of 'rocking retirement.' Additionally, Roger tackles the critical question of whether to accept a free retirement analysis from brokers, discussing the potential costs and consequences involved. Tune in for insightful advice on navigating your retirement journey with confidence! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Roger Whitney: This podcast is dedicated to helping you rock your retirement ROCKIN’ RETIREMENT IN THE WILD(01:06) David emailed in saying he and his wife are leaning into rocking retirement. PRACTICAL PLANNING SEGMENT(03:00) Our title question today came from Phil- he wants to know if it is worth going through free retirement analysis.(07:15) What are some of the cautions or things you want to understand about free retirement analysis? LISTENER QUESTIONS(13:37) Doug shares feedback about my Smart Sprint on being present.(15:11) Rick says he'd like to simplify portfolio.(19:30) Cliff sent in a question about stress testing your retirement plan.(27:09) Dave has a question about moving a 401k to an independent advisor upon retirement.(32:55) Bob asks which retirement plan should you use first: Social Security or savings. SMART SPRINT(38:10) In the next seven days, pay attention to “free” offers—whether it’s a retirement analysis, discount, or credit card perk—and notice the hidden costs or unintended consequences that may come with them. REFERENCESSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManFOLLOW US ON SOCIALS!Follow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 27 August 2025

💬 Show Notes In this episode, Roger explores how naming and recognizing the different phases of life can bring clarity to the retirement journey. A listener’s question about inherited money sparks a conversation about direct indexing—what it is, when it makes sense, and what to watch out for. He also shares how to navigate calm, choppy, and rough waters in retirement planning so listeners can move forward with more confidence and control. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Today we will talk about direct indexing and answer some more of your questions.(01:04) Roger talks about acknowledging and naming things in life.(04:19) There are four levels that Roger wants to acknowledge with clients- calm waters, choppy waters, rough waters, and change of course. ROCKIN RETIREMENT IN THE WILD(08:55) Brian says he focuses on spending time with family in retirement.(09:20) Don says electric bikes are game changers. PRACTICAL PLANNING SEGMENT(10:30) John asks a question about direct indexing.(13:17) Direct indexing is when you buy the individual stocks of an index in your own account instead of a fund, allowing for tax benefits and customization but with more complexity.(16:32) Should you do this if you are concerned about taxes? What are the benefits? The drawbacks?(20:38) Roger says exchanging traded funds has some advantages over indexing. LISTENER QUESTIONS(21:20) Scott has a follow up question about getting a mortgage in retirement.(28:45) An anonymous listener says it's too late for long term care and wants a recommendation for a low risk investment.(35:40) Our next question comes from John related to being an executor for an estate.(39:17) Dan asks a question about rebalancing. SMART SPRINT(43:46) In the next seven days, take a small step by naming the season of life you’re in—calm, choppy, rough, or changing direction—so you can better focus your energy on where to lean in right now. UP NEXT(44:40) Next week Roger chats with Tanya Nichols on the show and answers some of your questions. REFERENCES Submit a Question for RogerSign up for The NoodleThe Retirement Answer Man FOLLOW US ON SOCIALS!Follow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 20 August 2025

💬 Show Notes In this episode, Roger Whitney welcomes elder law expert Kathy McNair to discuss the often-overlooked but crucial topic of elder care, especially for those retiring solo. They explore what elder law really means, how it differs from traditional estate planning, and why having the right legal documents—like healthcare proxies and powers of attorney—is vital for protecting your future and legacy. Alongside practical insights on guardianships and conservatorships, Roger shares a fresh perspective on gratitude and contentment as essential mindsets for a meaningful retirement. Plus, he answers listener questions and wraps up with a special personal announcement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Today on the show, we are going to start exploring elder care with an expert in the area, Kathy McNair.(01:06) Let’s talk about gratitude and contentment. ROCKIN RETIREMENT IN THE WILD(04:40) Roger and Kimberly are embracing retirement as an opportunity to live fully and give back and reconnect with things that matter most. INTERVIEW WITH KATHY MCNAIR(06:26) Roger introduces Kathy, an elder attorney and founder of seniorsolutionsinfo.com and SoloAllies.com(08:16) Kathy explains elder law and talks about her background.(10:20) What is the difference between a guardianship and a conservatorship? (12:00) Roger says one of his clients has a question about his aging mother and how to approach the situation.(17:26) Is a power of attorney enough when someone is not cognitively capable?(21:33) Kathy talks about starting SoloAllies.com.(25:35) For seniors who are aging without close family, the key is to start building your team while you’re still healthy and capable. (31:30) The hardest role to solve sometimes is the healthcare proxy role. LISTENER QUESTIONS(33:07) Submit questions on AskRoger.me.(35:45) Joe asks a question about the interview with Charles Ellis.(42:30) Joe asks “Can you explain some comments in Charles Ellis book?”(45:00) Brian says he’s thinking of doing an NUA with company stock. SMART SPRINT(49:13) In the next seven days, pick an activity and don’t listen to music or a podcast or anything. Be Present. BONUS(49:00) Roger explains that Agile Retirement Management has merged with Align Financial. REFERENCESSoloAllies.comKathy McNair- SeniorSolutions.comSubmit a Question for RogerSign up for The NoodleThe Retirement Answer Man FOLLOW US ON SOCIALS!Follow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 13 August 2025

💬 Show Notes In this episode, Roger Whitney returns after a month off, ready to help you rock your retirement! He answers listener questions on a range of topics, including the benefits of choosing between Fidelity and Vanguard, the Rule of 55 for 401(k) withdrawals, and inherited IRA distributions. Roger also chats with  discusses the importance of finding the right retirement coach. Join us for practical advice and insights to help you navigate your retirement journey! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Roger Whitney answers your retirement questions on today's show ROCKIN’ RETIREMENT IN THE WILD(01:08) Brian says he and his wife are playing pickleball during retirement. CHAT WITH KEVIN LYLES(03:30) Roger talks to Kevin Lyles about a financial advisor versus a retirement coach(06:29) How does someone determine if they need an advisor or a coach?(10:15) Define what you are looking for before finding a coach.(12:44) A good coach will listen and have good intuition about what is really going on. LISTENER QUESTIONS (14:47) Barb says she was thinking of moving her Fidelity assets to Vanguard.(21:44) Mark has a question about the Rule of 55.(25:53) Craig asks a question about an inherited IRA(27:54) Scott says he has discovered something about TSP withdrawals.(30:53) An audio question about my Switzerland interview with Scott from a few weeks back SMART SPRINT(32:05) In the next seven days, define something you would like to do and find one person who has done this thing. BONUS(35:00) Roger reflects on how he is going to spend the next 5 weeks. REFERENCESThe Retirement Collective- BookThe Retirement Coaches AssociationSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManFOLLOW US ON SOCIALS!Follow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 6 August 2025

In this episode, Roger Whitney welcomes Michael Easter, New York Times bestselling author of 'The Comfort Crisis' and 'Scarcity Brain.' They delve into the concept of overcoming frugality and the evolutionary mismatches that affect our resource management in retirement. Discover how short-term discomfort can lead to long-term growth, the importance of taking the stairs in life, and the psychological implications of our modern abundance. Tune in for insights that can help you not just survive retirement, but thrive in it!*Episode originally aired March 27, 2024OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN[01:04] Today we have Michael Easter, author of Scarcity Brain, on the show.PRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER[02:20] Roger introduces Michael Easter to the show[03:14] The Comfort Crisis falls into the Energy Pillar- building energy so you can show up for your life.[04:30] Roger asks Michael what his objective was in exploring the Comfort Crisis[09:40] Why is it a bad thing to be comfortable?[12:40] How do we start being more uncomfortable?[16:11] The Scarcity Brain falls into the Vision Pillar.[18:00] Why do we have a constant feeling that we don’t have enough?[25:25] Quantifying goals is not always the best thing to do.[29:01] Michael defines what the scarcity loop is.TODAY’S SMART SPRINT SEGMENT[33:21] In the next seven days, take the stairs! Do something that most people don't do.RESOURCESBOOK - The Comfort Crisis by Michael EasterBOOK - Scarcity Brain by Michael EasterStutzRock Retirement ClubFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 30 July 2025

In this enlightening episode, we tackle the often overlooked mental shift required in retirement: transitioning from a saver to a spender. Join us as we revisit a compelling conversation with Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisory Services. We'll explore the psychological barriers many face in letting go of frugality and how to embrace the resources they've accumulated to enhance their lives. Discover practical strategies to gain confidence in spending, overcome the fear of uncertainty, and ultimately, live a fulfilling retirement without the regret of dying with too much money. Tune in for insights that could transform your approach to retirement!*This episode originally aired March 20, 2024OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN[00:30] Overcoming frugality is a major crisis for many in retirementINTERVIEW WITH DAN CROSBY[01:19] Roger introduces Daniel Crosby.[02:50] How do we overcome frugality?[04:30] There are a lot of behavioral things that change when you leave full-time work.[09:45] How to gain confidence in the midst of uncertainty.[17:22] People are wired to avoid regret.[18:01] What are some basic things people can do to overcome frugality?[22:16] You can't undo 40 years of programming in 4 minutes- experiment with behavior and small commitments.TODAY’S SMART SPRINT SEGMENT[25:15] In the next seven days, I challenge you to examine your retirement plan and ask yourself- is there something else I should add that’s important to my life?RESOURCESBOOK - The Soul of Wealth by Dan CrosbyBOOK - The Top 5 Regrets of the Dying by Bronnie WareBOOK - Die with Nothing by Bill PerkinsRock Retirement Club FOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 23 July 2025

In this episode, we explore the journey of retirement through the eyes of Brad, a member of the Rock Retirement Club. Brad shares his experience of moving to The Villages in Florida, detailing his decision-making process, the community's offerings, and how it has transformed his retirement lifestyle. Join us as we uncover valuable insights and tips for anyone considering retirement living, all while enjoying the vibrant atmosphere of this unique community.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY[01:30] Roger introduces Brad and asks how he discovered The Villages Retirement Community in Florida.[09:30] Roger asks Brad what led them to explore 55+ communities.[11:35] Brad explains how The Villages community is organized.[19:14] Roger asks Brad what advice he would give to someone exploring places to retire.TODAY’S SMART SPRINT SEGMENT[22:09] In the next seven days, think about where you are going to live in retirement.RESOURCESThe Villages CommunityRock Retirement Club FOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 16 July 2025

All of July we will be replaying some of our popular past episodes. In this episode, we engage with retirement planning expert Michael Kitces as we explore the evolving landscape of retirement planning. Discover the importance of flexibility in retirement spending and how to select the right retirement planner for your needs. We also discuss the implications of dying with too much money and the critical questions you should ask when interviewing potential advisors. Tune in for insights that will empower you to not just survive, but truly rock your retirement!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(0:00) The key to finding a retirement planner is to find someone that puts YOU and not your money in the center of everything.(00:45) Today we have a replay of last year's interview with Michael Kitces. INTERVIEW WITH MICHAEL KITCES(02:11) Roger introduces Michael Kitces and chats about flexibility.(13:30) Michael says as a professional, he does not want to have a client fail on his watch.(19:21) Roger says the quote that comes to mind when he thinks about retirement planning is: “You’re never going to be exonerated from uncertainty, pain, or the need to do work” Stutz(24:00) Most people understand that change is to be expected.(29:05) Michael talks about risk tolerance.(32:55) Michael reflects on the question “How do we help clients actually make better decisions?”(33:51) Tips on how to choose a retirement planner. SMART SPRINT (45:55) In the next seven days, evaluate the quality of your process for making decisions in retirement. RESOURCESBOOK - Die with Zero by Bill PerkinsBOOK - It’s Not Complicated by Rick NasonKitces.comBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning CenterFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 9 July 2025

All July long, we’re featuring a special replay series of standout episodes—and this week is no exception. Join us for a special episode as we welcome Christine Benz to discuss her book, "How to Retire." In a captivating conversation in 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.*Episode Originally Aired December 4, 2024* OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN(00:55) We are going to play some past impactful episodes for the whole month of July  INTERVIEW WITH CHRISTINE BENZ(01:28) Today we start off the month with a replay of our interview with Christine Benz.(03:17) Roger asks about the goal for the readers of this book.(04:48) Christine: The goal was to cover retirement in a really holistic way and include as much non-financial as financial information on retirement planning.(06:10) Roger thinks the interview style of the book helped make it more approachable.(08:13) Roger asks Christine about any big, unexpected insights that came up when she was writing her book.(11:12) Fritz Gilbert says I give Christine serious kudos for the approach she took and the amount of homework she did.(12:35) Christine tells Fritz that she loves his methodical approach to dealing with the years leading up to retirement.(14:16) 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.(18:15) Roger says when it comes to portfolio construction, it's easy to overcomplicate things(21:14) Larry asks Christine what challenges her or confounds her most about her own retirement planning.(23:35) Larry asks “Are you concerned that we may not find people to provide long term care?”(31:08) Kevin Lyles asks Christine about asset allocation in retirement.(37:55) Laura asks: When talking about high quality bond portfolios, do bond funds work?(42:00) Roger asks about indexes and broad diversification. (44:37) Roger says someone had a comment related to some of the research on small cap value and asks Christine her view on having a more diversified small cap value tilt?(48:19) Eric asks “what is the argument for using TIPS (Treasury Inflation-Protected Securities)  for retirees?” (51:28) Roger asks Fritz if he has been simplifying his portfolio or working more on optimization since retiring in 2018.(53:52) Roger says the optimization part of retirement sometimes dominates the conversation.(54:44) Roger asks Christine: Have you found in your own life a balance between making sure you don’t get too complicated in investments?(57:55) Brianna asks Christine what question she has been reflecting on after the 20 interviews?(58:45) Christine she’s been thinking more about whether the concept of retirement is flawed. BONUS(01:01:26) Roger reads an excerpt from his grandfather's WWII journal Resources Mentioned In This EpisodeWade 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 Whitney

Transcribed - Published: 2 July 2025

💬 Show Notes This week on the Retirement Answer Man show, we kick things off with a couple of Rockin’ Retirement in the Wild stories from listeners living out their retirement dreams. Then we dive into a mini case study from a listener recently laid off who’s wondering if early retirement is on the table, we’ll walk through the numbers and stress test his plan. We wrap up our month of travel talk with a fun chat with Chris and Cathy about their retirement adventures and how they’re making the most of their freedom to explore.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) In this episode, we wrap up our travel reflections and explore a listener's question about the pros and cons of retiring at age 59.(01:40) Looking ahead, July will feature 'Best of' episodes of the Retirement Answer Man podcast and August will focus on listener questions. ROCKIN’ RETIREMENT IN THE WILD(02:50) Rock Retirement Club member, Pete, has a podcast called Retiring with Enough and that podcast just hit episode 150.(04:04) Listener, Adrianne, sent in a letter about rocking retirement. LISTENER CASE STUDY(04:45) An anonymous listener reached out to share that he’s considering early retirement after a job loss caused by the downturn in the automotive industry. Today, we explore whether he can make it work.(09:20) A breakdown of the listener’s financial situation.(13:35) We have to make some assumptions about investment and will use software to simulate different scenarios.(17:00) Let’s look at the results- a feasible plan is not necessarily resilient. (19:40) Let’s do some basic stress testing to see how your plan holds up when life throws curveballs. TRAVEL STORIES WITH CHRIS AND CATHY(24:52) Two recent retirees, Chris and Cathy, have focused on domestic travel now that work is out of the way.(29:10) Roger: What was one moment that stood out from your entire trip that stands out for each of you?(31:45) Roger: Do you two talk when you're on road trips or do you audiobook or something?(32:23) Chris and Cathy said they retired together and knew they wanted to go back to Jersey.(33:21) Roger: How did you adjust to being together 24/7?(34:55) Chris and Cathy discuss how they will approach travel in retirement. (36:17) Roger: Over a twelve month period, what percentage of time do you travel? And what is the pull to travel so much?(39:36) Roger: Do you think this three months a year travel cycle is a season or do you think this is a new identity as explorers?(42:05) Roger: What tips or suggestions would you give to others who have never traveled internationally or have never planned a big road trip?(46:55) Roger: What is it internally that travel you feel adds to your life? SMART SPRINT(48:19) In the next 7 days, confirm that you have at least two years of safe assets, cash or short-term reserves, to cover your lifestyle expenses not covered by income. Even if your plan looks feasible on paper, test its resiliency. Would it hold up if the market took a hit tomorrow? BONUS(48:55) Now that we’ve finished my grandfather’s journal, to end the show I will share things I’m geeking out on. Today: electric bikes. REFERENCESSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManRetiring with Enough Podcast with Dr. Peter Guidry TRAVEL WEBSITESFree Range Fun Hogs- Travel BlogFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 25 June 2025

💬 Show Notes In this episode, we tackle the intricacies of retirement planning and the importance of trusting your financial projections. Join us as we explore the concept of 'productive paranoia' and how it can help you avoid costly errors in your retirement strategy. We'll also hear a heartfelt travel story from Scott, who shares how he embraced international travel after a significant life change. Don't miss this enlightening discussion that will empower you to take charge of your retirement journey! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This show is dedicated to helping you have the confidence to rock retirement.(01:15) How do you have confidence in your retirement plan?(04:44) How do you quality check your plan?(05:07) Let’s start by talking about the concept of productive paranoia from Jim Collins’ Great by Choice—a mindset of staying hyper-aware, building buffers, and zooming out for perspective to strengthen your retirement plan even when things seem to be going well.(07:09) Quality checking a retirement plan means making sure the inputs and results align with your goals.(08:33) What are the most common unforced errors?(12:21) What are some of the obstacles to quality checking your plan?(13:30) How do we quality check a retirement plan using metacognition?(19:30) What is the benefit of reading your goals out loud?(22:45) Another tactic is running your plan through another system. INTERVIEW WITH SCOTT (24:40) Roger continues talking about traveling in retirement.(26:20) Roger reads an email from his client Larry, an avid RV traveler.(28:30) Roger introduces Scott for a conversation about international travel.(34:30) Scott shares thoughts about both solo and group travel.(39:30) Scott talks about traveling after his wife of 30 years passed away.(41:25) Some people feel intimidated being the third wheel even when they're invited(43:50) Roger says he is really interested in the micro communities of people who are comfortable enough to travel together.(47:55) Roger asks Scott what advice he would give to people to embrace single traveling.(50:30) Roger reflects on how we often overlook the beauty of our own surroundings and asks Scott what deeper meaning travel holds for him in retirement. SMART SPRINT(53:20) In the next seven days, quality check your plan of record using some of the tools we talked about. BONUS(53:50) Roger reads the last entry in his grandfather’s WWII journal. REFERENCESSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManBOOKS Great by Choice: Uncertainty, Chaos, and Luck- Why Some Thrive Despite Them All- Jim CollinsTRAVEL WEBSITESFree Range Fun Hogs- Travel BlogRick Steves FOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 18 June 2025

💬 Show Notes In this episode, Roger Whitney dives into the essential elements of not just surviving, but thriving in retirement. We kick off with a listener's story about the challenges of early retirement and the important questions that arise during this transition. Then, we shift gears to a practical planning segment on how to rebalance your retirement portfolio as life and market conditions change. Lastly, we hear from Karen and Shannon, two adventurous retired women, as they share their inspiring experiences traveling internationally and building confidence in their new lifestyles. Tune in for insights that can help you rock your retirement! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) This show is dedicated to helping you rock retirement.(00:54) Next week on the show we are going to talk about how to quality check your retirement plan. ROCKIN’ RETIREMENT IN THE WILD(01:34) A listener sent in an email about her retirement experience. PRACTICAL PLANNING SEGMENT(04:50) In the practical planning segment, Roger reviews how to rebalance your portfolio in retirement.(06:30) What is rebalancing, and why does it matter in retirement?(08:30) How often should you rebalance your portfolio?(09:20) Step 1: Review your actual spending compared to your plan of record.(11:03) Step 2: Adjust or update your projected spending for the year ahead.(13:30) Step 3: Refresh your income estimates and update asset values.(15:19) Step 4: Run a feasibility check—use Monte Carlo simulations or your household balance sheet.(16:01) Step 5: Test your plan’s resilience and update your allocation strategy.(18:45) Step 6: Consider your contingency fund—how much cushion do you need, and how will you refill your 5-year income floor?INTERVIEW WITH SHANNON AND KAREN ABOUT TRAVELING IN RETIREMENT(22:51) Roger talks with Shannon and Karen about traveling internationally in retirement as single women.(31:10) You had several hurdles to overcome.(33:13) Karen says she likes traveling with a group and hiring individual guides.(37:05) Newer tours are much more curated and intimate than they used to be.(42:25) What advice would you give to someone who is single and nervous about traveling internationally alone? SMART SPRINT(47:34) ​In ​the ​next ​seven ​days,​ schedule an hour to an hour and a half during the third quarter of the year for a “retirement rebalancing meeting,” clearly outlining your plan on your calendar so you can prepare and follow through effortlessly. BONUS(48:30) Roger reads from his grandfather’s WWII journal. REFERENCESSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManTRAVEL WEBSITESThe History Chicks PodcastZingerman’s Food ToursRoad ScholarFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram

Transcribed - Published: 11 June 2025

💬 Show Notes In this episode, we explore the joys and motivations behind traveling in retirement. Join us as we discuss why travel is a common goal for retirees, featuring insights from Andrew Motiwala, founder of A Good Life Abroad. Discover how to enhance your retirement travel experiences and learn about the various obstacles retirees face when planning their adventures. Tune in for inspiring stories and practical tips to help you feel 'awake' and engaged in your retirement journey! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:35) Today on the show, we're going to talk about how to improve retirement travel. ROCKIN’ RETIREMENT IN THE WILD(02:26) Two quick rocking life in retirement stories. TRAVEL IN RETIREMENT(04:22) Why do we want to travel in retirement? (10:25) When we're thinking about traveling, what are obstacles?(13:11) Roger talks about types of travel to perhaps overcome some obstacles.(14:00) There are lots of travel opportunities in the United States or even regionally if International travel is too much. INTERNATIONAL TRAVEL WITH ANDREW MOTIWALA(17:22) Roger chats with Andrew Motiwala- the founder of Good Life Abroad.(20:35) The Good Life Abroad helps people live abroad in a vetted curated apartment for a month or two at a time with on the ground support.(24:00) What are the advantages to using The Good Life Abroad versus booking it all yourself?(25:33) Roger asks Andrew his opinion about why people want to travel in retirement.(30:05) Roger asks what people do that take travel to a whole new level?(31:13) What percentage of people who use Good Life Abroad are solo travelers? SMART SPRINT(32:30) In the next 7 days, go somewhere new in your own zip code. Try a new park, museum, trail, or even a local brewery. Step outside your usual routine and give your brain a spark.  BONUS(33:01) Roger reads from his grandfather’s WWII journal. REFERENCESRegister for my LIVE WebinarsSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManThe Good Life Abroad FOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram Show notes created by https://headliner.app

Transcribed - Published: 4 June 2025

💬 Show Notes In this episode, we wrap up our series on Process Over Panic by focusing on what truly deserves your attention in retirement planning. Plans change, life surprises us, and retirement is unpredictable. But a solid planning process — one you revisit and refine — will help you rock retirement. Join us for an insightful discussion that includes practical advice, personal anecdotes, and answers to listener questions.  SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) In this episode, we wrap up our Process Over Panic series by focusing on what truly deserves your attention in retirement planning. Inspired by Eisenhower’s quote — “Plans are worthless, but planning is everything” — we explore why your process, not your plan, is what will carry you through retirement with confidence. ROCKIN’ RETIREMENT IN THE WILD(01:50) Roger shares a heartfelt retirement message through a set of creative prompts sent by a client PRACTICAL PLANNING SEGMENT(03:40) What should you pay attention to?(04:50) When you are doing retirement planning, you are planning for the future- something totally unpredictable.(06:31) What deserves your attention in retirement planning?(08:04) What is the intent of retirement planning?(09:13) What are the obstacles to achieving our intent?(13:10) Roger talks about how his experience in retirement planning gives him confidence.(13:50) The Four Pillars of Retirement Planning help to build a flexible map for retirement.(17:58) Roger explores the concept of the “Retirement Plan of Record” as a living document—not a one-time decision. Just like in relationships, decisions made once can lose their relevance over time if not revisited and reinforced.(19:25) Roger goes back through the Four Pillars to talk about how often you should revisit them.(24:10) Real-life reactions can reveal mismatches between theory and reality.(25:06) Roger recommends compartmentalizing your retirement planning. LISTENER QUESTIONS(27:30) John says he didn’t like how Roger said “don't follow your retirement plan” in a recent episode.(29:07) Steve asks a question about asset allocation.(31:03) Steven asks which retirement certification to look for in a retirement advisor or coach.(33:02) Anonymous listener says they're looking to purchase financial management software that is secure and does good analysis.(34:41) Susan asks about Medicare penalties and health insurance while still employed after age 65. SMART SPRINT(37:30) In the next seven days, I want you to schedule your retirement planning meetings for the rest of the year. BONUS(38:33) Roger reads from his grandfather’s WWII journal. REFERENCESRegister for my LIVE WebinarsSubmit a Question for RogerSign up for The NoodleThe Retirement Answer Man BOOKSThe Retirement Collective: Shared Wisdom From Top Retirement Coaches- Retirement Coaches Association FOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on InstagramShow notes created by https://headliner.app

Transcribed - Published: 28 May 2025

💬 Show Notes In this episode, Roger sits down with renowned investment expert Charles Ellis to explore what truly matters in retirement investing. Together, they focus on the key elements investors can actually control, the importance of maintaining cash reserves in retirement, and practical strategies to manage inflation risk.Roger and Charles also revisit timeless lessons from Ellis’s classic book, Winning the Loser’s Game, drawing on his decades of experience in investment management. The episode wraps up with thoughtful answers to listener questions on asset allocation, indexing, and rebalancing. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Today the show is going to focus on investing.(01:15) Roger explains the pie-cake and says there will be a video in The Noodle this week.(02:38) What can we control and what can we not control in regards to investing?(04:55) Let’s talk about building a retirement portfolio.(06:52) What can you NOT control when building out a portfolio?(09:40) What can you control in retirement planning?  INTERVIEW WITH CHARLES ELLIS(13:24) Roger introduces Dr. Charles Ellis, author of Winning the Loser’s Game.(18:54) Roger asks Charlie about indexing and passive investing.(24:32) Dr Ellis talks about behavioral economics and recommends the book Thinking Fast and Thinking Slow.(27:20) Roger talks to Dr. Ellis about minimizing unforced errors(30:30) How do things change when you're in retirement and need to draw from assets?(35:32) Roger says for an average person, the concept of having all of their financial assets in equities would be unnerving. What advice would you give to someone who doesn’t understand the financial concepts and the kind of volatility comes with this kind of account?(38:43) Dr. Ellis talks about the current administration and the economy and how difficult times don’t last.(42:02) Roger asks Dr. Ellis about his choice to not retire.(46:34) Roger asks a question: What advice would you give me so I don’t look back with regret when I’m your age?(51:34) Dr. Ellis answers a question about fear and worry regarding the future.(54:22) Roger thanks Dr. Ellis for writing his books and helping so many. LISTENER QUESTIONS(54:52) Today's show will focus on investing questions.(55:11) Kevin says he doesn’t understand Roger’s concept of pie-cake- how to allocate your resources to fund your life.(56:28) Vince submitted an audio question about the retirement floor.(59:42) John asks for Roger’s thoughts on investing in multiple index funds versus all-in-one funds. And what is the difference between a mutual fund and an index?(01:08:07) Ben asks about rebalancing and current market conditions. SMART SPRINT(01:12:30) In the next seven days, take an assessment of the process you use when investing your assets for retirement. BONUS(01:13:28) Roger thanks listeners for their positive feedback.(01:14:13) Roger reads from his grandfather’s WWII journal. REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) BooksThinking Fast and Thinking Slow- Daniel KahnemanRethinking Investing- Dr. Charles EllisWinning the Loser’s Game- Dr. Charles Ellis Show notes created by https://headliner.app

Transcribed - Published: 21 May 2025

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.REFERENCES Nick 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

Transcribed - Published: 14 May 2025

This week, we continue our Process Over Panic theme by focusing on how to take back control in uncertain times. Learn how to shift your energy toward what you can control—and let go of what you can’t. Plus, Marcia Mantell joins us to break down the latest updates on Social Security and what they mean for your retirement plan. Tune in and take one more step toward a confident, purposeful retirement. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) This show is dedicated to helping you not just survive retirement, but rock it!(01:58) We have to focus on things we can control and manage the things that we can’t.(3:08) Today we are going to talk about social security- what we can control and what we can’t.  ROCKIN’ RETIREMENT IN THE WILD(03:52) Roger shares a “Rockin’ Retirement in the Wild” story from a listener and member of the RRC. PROCESS OVER PANIC- SOCIAL SECURITY WITH MARCIA MANTELL(06:30) There have been a lot of changes coming out of the Social Security Administration.(07:40) What is controllable with Social Security?(09:56) What are the uncontrollables with Social Security?(13:51) To help us understand the current state of Social Security, we're talking with Marcia Mantell.(15:38) Marcia says facts over fear are SO important and she is not fearful but watchful.(18:49) What changes have happened recently with social security?(23:00) There are different proposals floating around regarding Social Security to improve the implementation of the program.(25:10) Marcia discusses her thoughts on the idea that Social Security will run out by 2033.(28:55) How easy is it to create a sustainable Social Security system?(31:47) The goal of Social Security is to provide a basic income, roof over our head, and food on the table.(33:10) Over 50% of people rely on Social Security for their primary source of income.(36:10) If you are 55 or older, should you make a material change related to what you anticipate your Social Security to be? SMART SPRINT(40:56) In the next seven days, identify one thing in your retirement planning you can’t control that’s draining your energy. Then, take one small action to shift that focus toward what you can control. Awareness is the first step to rocking retirement—and life. BONUS(41:49) Next installment from missions flown by Roger’s grandfather in World War IIREFERENCESRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Mantell Retirement ConsultantsSocial Security Administration Show notes created by https://headliner.app

Transcribed - Published: 7 May 2025

💬 Show Notes In this episode, we tackle the pressing question, "Is this time different?" as we navigate the complexities of today's political and economic landscape. Join us as we explore the importance of perspective in retirement planning and discuss the basics of structured notes. We'll also introduce our upcoming events and share insights from renowned experts in the field. Don't miss this enlightening discussion that aims to help you not just survive retirement, but thrive! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) The narratives that you consume and ultimately create for yourself define your reality(00:45) Today we are going to finish up our basics with the basics of structured notes and also talk about “process over panic” regarding the current state of affairs. IS THIS TIME DIFFERENT?(04:10) Roger discusses whether the issues in the economy are different this time around then in times past. (07:40) The point of this discussion is to identify what is happening and how to respond to it.(08:40) A better question when it comes to planning is “Is this time permanent?”(10:58) Roger talks about the current markets versus historical markets.(11:46) Since 1928, there have been around 26–28 bear markets, averaging a 35% drop and lasting about 9.6 months. They tend to come around every five years—and they’ve never been permanent. (12:47) From presidential elections to battles with the Fed, these cycles may feel chaotic—but they’re nothing new and they’re not permanent.(14:31) Roger talks about “process over panic” STRUCTURED NOTES(21:34) Roger goes over the basics of structured notes.(22:17) Roger uses food as a metaphor to break down investments—organic options like stocks and bonds are simple and transparent. But structured notes? They're the Twinkies of the investment world.(25:50) Structured notes at their core are debt. (26:57) Roger compares structured notes to wine—different types, different flavor profiles, and even the same variety can vary from year to year or region to region.(28:31) What are some types of structured notes?(29:22) What should you know about your structured notes?(32:00) Each structured note has a prospectus, a legal document that investment managers are required to create, but they are very difficult to understand(34:21) Roger sees structured notes as a potential building block for a retirement portfolio but avoids them due to their complexity.  SMART SPRINT(36:35) In the next seven days, take five or ten minutes to write out your process for retirement planning. BONUS(37:44) Roger reads from his grandfather’s WWII journal. REFERENCESRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Thomas SowellWall Street JournalClaude AIChatGPT

Transcribed - Published: 30 April 2025

💬 Show Notes In this episode, we dig into fixed annuities and U.S. Treasuries—how they can bring stability and income to your retirement. We’ll also discuss Social Security risks and how to stress-test your plan so you can retire with confidence. Let’s get you one step closer to rocking retirement! SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Today we talk about the basics of fixed annuities.(00:59) Roger continues the discussion on navigating retirement planning during uncertain times.(02:06) Listener, Christina, asks Roger to consider stress testing including Social Security for the average potential retiree.(07:17) Roger defines fixed annuities and how they fit into the retirement planning process.(07:54) Roger evaluates the similarities and differences between CDs and fixed annuities.(10:08) What are the negatives of fixed annuities?(12:27) How are the rates of annuities determined?(14:08) What are the primary uses of fixed annuities?(15:12) Roger goes through an example of optimization using fixed annuities. LISTENER QUESTIONS(19:38) Listener, Barbara, asks Roger to educate listeners about the basics of treasuries. SMART SPRINT(24:36) In the next seven days, I want you to shift the way you approach your retirement planning. Think of yourself as a scientist—you're on a mission to discover and understand. When we run these stress tests or feasibility tests, the goal is to uncover where potential risks might exist and where opportunities could be hiding. BONUS(25:25) Roger reads from his grandfather’s WWII Journal REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Social Security AdministrationTreasuryDirectImmediate AnnuitiesBooks:The Wild Blue: The Men and Boys Who Flew the B-24s Over Germany- Stephen AmbroseShow notes created by https://headliner.app

Transcribed - Published: 23 April 2025

💬 Show Notes In this episode, Roger Whitney takes on one of the biggest challenges facing retirees today: how to plan confidently when the markets are anything but steady. He’s joined by Dr. Bobby Dubois for a thoughtful conversation about building the energy and vitality needed for a meaningful retirement. Together, they share simple, practical steps to help listeners take charge of their physical well-being—so they can show up strong, not just today, but for years to come. Plus, listeners will hear an inspiring story of someone making real progress on their retirement journey. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Retirement planning is about creating a great life.(01:19) Roger celebrates team members Erin and Troy today.(02:08) Roger reflects on the messaging surrounding the current state of the markets.(04:45) What should you do to cope with the turbulent markets and economy? PRACTICAL PLANNING WITH DR. BOBBY(10:16) Today's practical planning is focused on building energy so you can show up for retirement.(11:00) Roger introduces Dr. Bobby Dubois and talks about his podcast, Live Long and Well.(12:10) Dr. Bobby talks about the basics of building energy.(13:30) The power of compounding little consistent habits over time makes a big difference.(15:20) Roger and Dr. Bobby discuss the importance of weight for overall health.(17:55) What basic things can you focus on to help with building energy?(18:05) Dr. Bobby talks about sleep and gives tips on how to improve sleep quality.(22:45) Exercise is important for building energy- focus on cardio, strength, and balance.(35:10) Dr. Bobby talks about optimal weight and two simple yet effective tips to maintain a healthy weight.(40:00) There will be links to specific episodes of Live Long and Well in our newsletter, The Noodle, this week. ROCKIN’ RETIREMENT IN THE WILD(42:28) Roger reads a note from an anonymous listener about rocking retirement. RETIREMENT ANSWER MAN LISTENER SURVEY(44:45) Roger shares some results from The Retirement Answer Man listener survey. SMART SPRINT(47:14)  In the next seven days, start by putting a few of Dr. Bobby’s ideas into action—get moving and build some momentum around your physical health. Once you’ve got a little rhythm going, shift your focus to tackling the stress that comes with market uncertainty. One step at a time—that’s how we build a more confident retirement.  BONUS(48:24) Roger reads an excerpt from his grandfather's WWII journal. REFERENCESLive Long and Well Podcast with Dr. BobbyRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) BOOKS:Tiny Habits: The Small Changes That Change Everything- BJ Fogg, PHD Show notes created by https://headliner.app

Transcribed - Published: 16 April 2025

💬 Show Notes In this episode, we break down the essentials of asset allocation and time management in retirement planning. Join us as we explore why it's crucial to focus on the basics rather than getting lost in market predictions and investment products. We also share insightful listener questions and another entry from my grandfather's World War II journal. Tune in to learn how to rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) This week we continue talking about the basics with asset allocation.(02:00) Time is your most precious resource.(03:36) Retirement planning is a means to an end.(05:45) We don’t want to waste time on trying to predict the future but on more important things like spending time on and in your life.(06:15) Spend time on the basic building blocks of retirement planning.(07:05) How does asset allocation fit into retirement planning?(09:10) Inflation is the natural increase in the cost of living over time.(13:52) What is asset allocation?(16:10) Part of asset allocation is a concept called diversification.(18:48) What is asset allocation best used for? (21:50) Two of the biggest determinants of where your asset allocation should be are your psychological preference and your time horizon. LISTERNER QUESTIONS(24:13) Steve asks whether they should use a single vendor for all their accounts or diversify where they have their money housed in terms of investment firms.(26:29) The next question comes from Nick related to asset allocation. (32:18) Question from an RRC member about Vanguard offering a direct conversion.(35:48) Audio question from Leah about using IRA contributions to start building out a bond ladder or a shorter term allocation.(39:50) Audio question from Patty who recently retired and needs to decide what to do with her 401k assets and how to choose an advisor. ROCKIN’ RETIREMENT IN THE WILD(49:01) James says he is overfunded for retirement even with a 10%-15% market correction but will aim to do better. SMART SPRINT(50:47) In the next seven days, think about your asset allocation and think about it within time segments. BONUS(51:33) Roger reads from his grandfather’s WWII journal.REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Show notes created by https://headliner.app --- 🎙️ Thanks for podcasting with Headliner!

Transcribed - Published: 9 April 2025

💬 Show Notes In this episode, we kick off a month-long series on retirement basics, emphasizing the crucial role of partnership in planning for retirement. We discuss why it's vital for both spouses to be actively engaged in financial conversations, ensuring that neither partner feels overwhelmed or excluded. Plus, we hear inspiring stories from a couple of listeners who are thriving in their retirement journeys! Don't miss this episode! OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN(00:38) We're starting a month-long series on retirement basics.(00:56) Today we are going to talk about what every spouse should know about their retirement plan.(01:45) It's important for each spouse to delegate responsibilities when planning for retirement.(03:00) Roger talks about the pressure of being the retirement planner in a couple and the risks of being the non-planner.  (05:00) Audio clip from our paraplanner Erin about a recent experience volunteering for Tax Aide.(07:40) What spousal participation should there be in retirement planner meetings? And what meetings need to happen?(08:07) Roger goes through the four initial meetings of building a retirement plan of record.(15:19) At least twice a year, the non-planner spouse should participate in a planner meeting to refresh all of these things.(15:30) What should the planner spouse do to help create a productive meeting?(17:45) What are the risks as the financial manager spouse?(19:29) What should non-financial manager spouses do?(22:50) Roger talks about what the non-financial manager spouses should know.(25:30) What should your advisor do if you are working with one? PUBLIC SERVICE ANNOUNCEMENT RELATED TO SOCIAL SECURITY(27:50) WEP and GPO changes are causing confusion with Social Security recipients. ROCKING RETIREMENT IN THE WILD(29:56) Listener shares about the challenges of decumulation and overcoming a lifetime of frugal habits.(32:28) Listener Kathleen talks about dog-sitting in retirement. SMART SPRINT(33:53) In the next seven days, review the time sensitive action items that may apply to you when it comes to the month of April. BONUS(35:19) Roger reads an excerpt from his grandfather's WWII journal.REFERENCESRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) Show notes created by https://headliner.app

Transcribed - Published: 2 April 2025

💬 Show Notes In this episode, we embark on a journey of navigating retirement amidst uncertainty. Join us as we explore the importance of taking action, building confidence, and reframing our approach to financial security. Listen in as we share practical steps to manage risks, reassess spending, and make informed decisions in these unpredictable times. With insights drawn from real-life experiences and the wisdom of past challenges, this episode aims to empower you to build a resilient retirement, step by step. OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN(00:35) This week’s show stems from a number of conversations I have had with listeners to the show.(02:35) Today, we’re diving into the challenges of retiring in uncertain times, exploring common concerns, potential risks, and the essential steps you should take to secure your future.(03:12) **Political disclaimer**  Today we are going to talk about what is going on in the political world today and how it relates to us in retirement planning.(04:45) Retirement planning should remain as independent as possible from political strategies or opinions.(08:28) What are the dangers that happen during this type of environment?(14:50) The risk lies in how we respond to these dangers and act on our worries.(16:00) We start to let our convictions and opinions about the future bleed into the retirement planning realm and act on the worst fears that we have.(18:00) At the end of the day the questions are:  Am I okay? What should I do?(18:55) What you should focus on is what you can do right now to improve your situation. (19:59) First, I’ll chat with those who already have a retirement plan in place, then I’ll turn to those who haven’t gotten around to it yet and share some tips for both groups moving forward.(27:06) Now let's switch gears to listeners who don’t have a plan yet.(32:05) None of these paths that we walked through have anything to do with what the government is doing. RETIREMENT IN THE WILD(33:04) An anonymous listener shared their retirement journey, thanking the podcast for inspiring positive steps.(34:40) New listener says he started listening to your podcast about a year ago and says Roger’s philosophy from 10 years ago still rings true today(35:40) Listener asks if there is an index of episodes he can search. SMART SPRINT (36:52) In the next seven days, take some of the action steps we talked about today. BACKGROUND ON ROGER (37:30) Roger talks about his origin story and financial experience background.(39:25) Roger goes over his practical experience in the industry. BONUS (43:44) Roger reads another excerpt from his grandfather’s WWII journals. REFERENCESRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday) BOOK The Power of Agency: The 7 Principles to Conquer Obstacles, Make Effective Decisions, and Create a Life on Your Own Terms- Paul Napper, Psy. D and Anthony Roo, Ph. D Show notes created by https://headliner.app

Transcribed - Published: 26 March 2025

💬 Show Notes In this episode, we explore the importance of cultivating curiosity as a part of the non-financial pillar of retirement planning- mindset. Join us as we discuss how curiosity can enhance your mindset and well-being in retirement, along with practical tools to foster this trait. We also address listener questions about retirement strategies amidst economic uncertainty. Don't miss this insightful episode packed with actionable advice! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(01:11) Today, we're going to answer some listener questions related to building a retirement plan and focus on one of the nonfinancial pillars- mindset.(02:10) Roger says he has been doing financial planning for over 35 years and noticed that it seems that the happiest and well adjusted people have a healthy sense of curiosity.(02:55) What is curiosity?(04:50) It is easy as we age to naturally fall into indifference, apathy, and close-mindedness.(06:06) Curiosity drives learning, learning creates cognitive resilience, and cognitive resilience enables further curiosity. (07:05) Let's look at some examples of curiosity and recommend some books.(10:17) How do you build curiosity?  LISTENER QUESTIONS(19:19) Drew asks a question about gifting.(21:51) Tom asks about permissible investments in ROTH IRAS.(26:55) The next question comes from John related to building a retirement allocation for retirement using the pie cake.(32:16) Mary asks about putting money in an HSA or money market account.(37:22) Our next email is from Nick related to target date portfolios for retirement SMART SPRINT(43:05) In the next seven days, work on cultivating curiosity. BONUS(43:57) Roger reads from his grandfather's WWII journal. REFERENCESRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)Books“Surely You’re Joking, Mr. Feynman!”: Adventures of a Curious Character- Richard FeynmanHow to Think Like Leonardo da Vinci: Seven Steps to Genius Every Day- Michael GelbThe Gifts of Imperfection- Brene Brown BlogRajib Roy- The History of my Future! (First Draft!)Show notes created by https://headliner.app

Transcribed - Published: 19 March 2025

💬 Show Notes In this episode, we explore the essential steps to setting up your retirement paycheck to ensure financial stability and confidence in your retirement years. Join us as we discuss the importance of tracking your cash flow, identifying spending trends, and creating a structured paycheck system that mimics the rhythm of a traditional paycheck. We also dive into listener questions about MYGAs, private equity, and inheritance planning, providing valuable insights to help you navigate your retirement journey. OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN(00:00) This show is dedicated to helping you not go bankrupt in retirement!(00:25) Today we'll talk about how to set up your paycheck ahead of retirement(01:16) Sign up for my weekly newsletter- The Noodle.(01:44) In retirement, you lose the natural pulse of income coming into your checking account so it is important to have a system setup.(03:05) What is the intent in setting up a paycheck in retirement?(07:35) Roger talks about a default paycheck structure and how to set it up.(12:30) What should you do about extraordinary expenditures? (13:14) How should you have your pretax account set up for a retirement paycheck?(17:45) Setting up a retirement paycheck helps identify trends in spending or saving.(19:22) There will be an explainer video exclusive in our weekly newsletter- The Noodle LISTENER QUESTIONS(20:00) I got an email from Bill, a demographer, giving me more insight about the question- “how long should we plan to live?”(24:00) Adam sent in a question about MYGAs- Multi-Year Guaranteed Annuities.(28:43) John sends feedback on our private equity episode.(30:32) David asks how to factor a substantial inheritance into his retirement plan. SMART SPRINT(39:35) In the next seven days, look at your payroll system and how you construct it. BONUS(40:25) Roger reads an excerpt from his grandfather’s WWII journal. REFERENCES Retirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)The Retirement Answer Man Free Worksheet Library Show notes created by https://headliner.app

Transcribed - Published: 12 March 2025

 💬 Show Notes In this episode, Roger Whitney tackles the critical question of life expectancy in retirement planning. With statistics from the CDC, he guides listeners through the complexities of determining how long they should plan for their retirement. Roger addresses the cognitive bias known as the "curse of knowledge," providing clarity on how to approach life expectancy assumptions. He also shares insights on the importance of using personalized data rather than general averages, and discusses practical tools for assessing longevity. Tune in for valuable advice that can help you plan confidently for your future! OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN(00:00) What life expectancy should you use in your retirement plan?(00:39) We have a change happening to our Six Shot Saturday email.(02:18) Roger discusses the concept of ‘The Curse of Knowledge.’(03:38) Listener, D.S., sends in a question about life expectancy in retirement.(05:58) Roger discusses how to interpret the data from the Social Security Administration life expectancy calculator.(9:30)  Roger uses age 92 for a male and 94 for a female for a base assumption in retirement planning. LISTENER QUESTIONS(11:26) Thrift savings plans will allow Roth conversion starting in 2026.(12:13) Karen asks about the pie-cake and the purpose of a 6 month emergency fund.(15:35) Karen asks a second question about suggestions for saving vehicles that are not US treasury bonds.(17:27) Evan asks “How does a pension figure into a net worth statement?”(22:00) Gene asks how to look at the total allocation of your retirement portfolio.(25:00) Roger reads feedback from listener Scott about last week’s episode. ROCKING RETIREMENT IN THE WILD (27:01) Scott has been helping federal employees think through their retirement plans. SMART SPRINT(30:42) In the next seven days, revisit the age you are going to use in your retirement plan. BONUS(31:12) Roger reads an entry from his grandfather’s WWII journal. REFERENCESRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)The Retirement Answer Man Free Worksheet LibrarySocial Security Life Expectancy CalculatorThe Retirement Researcher  Show notes created by https://headliner.app  

Transcribed - Published: 5 March 2025

In this episode, we tackle the complexities surrounding private equity in retirement portfolios. Join Roger as he navigates a listener's inquiry about the necessity and implications of investing in private equity, especially in light of recent discussions and literature on the topic. With insights from investment expert Peter Lazaroff, we explore the pros and cons, the importance of having a solid retirement plan, and whether private equity is truly a beneficial addition to your portfolio. Tune in to gain clarity and confidence in your retirement investment strategy! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Complexity is your enemy. Any fool can make something complicated. It is hard to keep things simple.-Richard Branson(00:38) Today’s episode is about private equity.(01:33) Roger reads an email from listener Dave with a question about investing in private equity.(02:28) Roger says that this episode features his opinion and judgment on private equity.(06:45) Don't think about private equity until you have a vision for what you want your retirement to look like. (10:20) Consider the second order consequence of making an investment.(12:00) Unless you are significantly overfunded and have an interest in private equity- Roger thinks private equity is unnecessary for creating a great life. INTERVIEW WITH PETER LAZAROFF(14:10) Introduction of Peter Lazaroff, author of Making Money Simple(16:39) What is private equity?(17:38) Who is traditionally invested in private equity?(26:12) When markets are under stress, private equity correlations go a lot higher.(27:49) What is the normal fee structure for investing in private equity?(31:15) What you're seeing more often these days are semi-liquid funds that offer liquidity windows.(34:30) There is no evidence to suggest that fewer companies going public is causing an issue.(40:15) We can’t predict when a bad decade of returns is going to come.(41:35) Peter: I am more concerned about implementing a bad idea than missing out on a good one. SMART SPRINT(42:39) In the next seven days, take a moment and remind yourself of the purpose of retirement planning which is to create a great life. BONUS(43:20) Roger reads an excerpt from his grandfather's WWII journal. REFERENCESTony RobbinsPeter LazaroffWall Street JournalBook- Making Money SimpleRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday! Show notes created by https://headliner.app

Transcribed - Published: 26 February 2025

💬 Show Notes In this episode, we explore the essential questions of retirement planning with financial expert Roger Whitney and guest Tanya Nichols from Align Financial. They dissect the case studies of Laura and Nick, highlighting their unique approaches to retirement and how their lifestyles influence their financial decisions. Tune in for insights on spending, confidence in planning, and the importance of resilience in your retirement strategy! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Stage one of retirement planning involves answering the central questions(00:54) Today, Roger chats with Tanya Nichols about the Retirement Plan Live case studies. DEBRIEF WITH TANYA NICHOLS(02:40) Roger introduces Tanya Nichols with Align Financial.(03:28) Roger and Tanya discuss Laura’s RPL plan.(05:25) What risks are associated with having a lean spending plan?(08:35) Once people realize they can achieve something, they pause and evaluate reality.(09:58) Roger asks Tanya how she determines how hard to push clients when they're afraid of the next step.(12:10) Tanya and Roger discuss Nick’s RPL plan.(14:50) If you have a plan that is feasible and resilient, you will likely have an inheritance even if it isn't planned for.(17:00) Roger talks about the importance of a resilient plan.(21:18) Roger and Tanya compare/contrast Nick and Laura’s plans(23:10) Roger asks Tanya how she incorporates current world events into retirement and life choices. LISTENER QUESTIONS(25:06) John asks a question about best utilizing extra income.(29:38) Edward asks a question about diversification versus safety. SMART SPRINT(38:21) In the next seven days, I encourage you to start organizing your tax documents and get them to your CPA as early as possible. BONUS(39:34) Next installment of Roger’s grandfather’s WWII journal. REFERENCESRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Retirement Plan Live ReplayAlign Financial Show notes created by https://headliner.app

Transcribed - Published: 19 February 2025

💬 Show Notes In this episode, we tackle the essentials of retirement planning with an engaging discussion led by Roger Whitney. We explore the importance of prioritizing what truly matters in your retirement journey and how to create a resilient plan that secures your desired outcomes. Roger emphasizes that retirement planning is merely a tool to achieve a fulfilling life, not the end goal itself. Joining him is Nicole Mills, who shares insights and updates on Six Shot Saturday and reads listener questions about retirement. Don’t miss this enlightening episode! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:30) Roger says retirement planning is not that interesting, but a means to an end.(01:41) Roger challenges listeners to take action on what is talked about THIS week. PRACTICAL PLANNING SEGMENT(02:50) Retirement planning is a self-interested process.(05:28) What questions do you want to answer in a healthy way?(06:45) Now is the time to make sure you have a resilient plan.(10:54) How do we make a plan resilient?(18:30) Markets are at an all time high, don’t get overly optimistic. LISTENER QUESTIONS(20:05) Nichole Mills joins Roger on the show.(20:45) We have some changes happening with Six Shot Saturday. (22:22) Listener TJ asks about building a bond ladder as he gets closer to retirement.(28:25) Jeff asks an optimization question about withdrawals from assets in retirement.(31:37) DJ is a new retiree and asks how Roger determines whether to make withdrawals annually, semi-annually, quarterly, or monthly.(36:30) Bill says he interviewed a financial planner and asks for clarification on fiduciary and non-fiduciary advisors. ROCKING RETIREMENT IN THE WILD(39:30) Roger talks about his new segment.(40:45) Listener Jeff talks about his retirement, irrational fears of the unknown, and how his plan gave him confidence. SMART SPRINT(43:50) In the next seven days, if you are within three years of retirement, get a resilient plan of record in place. BONUS(45:40) Roger shares the next mission from his grandfather’s WWII journal. REFERENCES Retirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!

Transcribed - Published: 12 February 2025

💬 Show Notes In this episode, we explore the complexities of retirement planning amidst a rapidly changing economic landscape. Join us as we discuss the importance of having a structured decision-making process and avoiding unforced errors that could jeopardize your financial future. We also share insights on how to navigate uncertainty in the market and the significance of clarity in your retirement planning. Don't miss out on the actionable tips that could help you rock your retirement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:55) In a couple of weeks Roger will talk with Tanya Nichols and do a recap of the Retirement Plan Live Series(01:49) Roger talks about not flying by feeling through retirement for the practical planning segment this week. PRACTICAL PLANNING SEGMENT(02:15) A few weeks ago we had the announcement of the Chinese AI engine- Deepseek.(03:45) The new presidential team is seemingly focused on a shock and awe strategy in changing the rules of government and economy.(05:45) Roger uses driving to Colorado as an analogy to managing an uncertain economy in retirement.(09:35) “We do not want to fly into retirement just by our gut.”(10:14) What are the causes of unforced errors in general?(13:40) What are some signs that you are not following a good process? (16:00) The process that you have should be focused on defining the true objective.(18:56) Next week Roger will talk about resilience. LISTENER QUESTIONS(19:30) Roger says all of this change is disruptive, and worrisome.(20:00) We are going to share the 2025 important numbers worksheet in Six Shot Saturday. (20:40) Listener Mary says it's better to be alone than wish you were.(21:55) Clem says he learned the hard way that you are replaceable at work.(25:40) Wade asks about managing real estate in retirement and how to find financial advisors. ACTION IN THE WILD(29:45) Roger got an email from listener Todd about the actions he has taken from listening to the podcast. SMART SPRINT(33:13) In the next seven days, write out, as specifically as possible, the pillars and steps in your retirement planning process. BONUS(35:38) Roger reads from his grandfather's WWII journal  REFERENCES Align FinancialNational Association of Personal Financial AdvisorsRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!The Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies for Financial Freedom by Tony RobbinsShow notes created by https://headliner.app

Transcribed - Published: 5 February 2025

In this final episode of the Retirement Plan Live series, we welcome back Laura and Nick to discuss their unique perspectives on investment risk and aging, particularly from the viewpoint of individuals without a traditional support network. They share their insights on how to navigate financial planning while maintaining a fulfilling life in retirement. Join us as we explore the importance of resilience and community in retirement planning, and don't miss the upcoming live events for deeper engagement! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Today is the last in the Retirement Plan Live series with Laura and Nick.(00:45) On this episode Roger will talk about retiring as a single person with no children. LAURA’S VIEWS(01:58) Laura says she doesn’t want to spend her retirement just managing finances.(06:52) Roger asks Laura about her experience with markets and risks in investment.(12:15) Roger asks Laura what her ideal situation would be for housing and how she plans to maintain her home as she ages.(15:50) "As we age, the current pulls us to isolation." Roger talks about Laura’s social plans in retirement.(18:25) One area that Laura is going to have more evolved skills is living alone and navigating socially as a single person.(21:19) On January 30th, Roger and Laura are going to review Laura's vision in a LIVE webinar. NICK’S VIEWS(22:36) Roger asks Nick if there is anything else that has come to mind from previous conversations on the show.(25:30) Roger and Nick talk about investing when it comes to risk in stocks and bonds.(29:05) Roger weighs in on becoming more financially conservative in early retirement.(35:52) Nick reflects on aging and maintaining his home as a single man with no children.(37:45) Nick says he lives in a multifamily home with a robust community with a senior center.(47:50) Roger talks to Nick about living in a metropolitan area and volunteering in retirement.(53:12) On February 3, Roger and Nick are going to review Nick's vision in a LIVE webinar. SMART SPRINT(55:22) In the next seven days, visit the Hartford website link that we share in Six Shot Saturday to explore the MIT Age Lab studies. BONUS(56:58) Roger reads from his grandfather’s WWII journal. REFERENCESRetirement Answer ManRegister for the Retirement Plan Live results webinars!The Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Meals on Wheels Show notes created by https://headliner.app

Transcribed - Published: 29 January 2025

💬 Show Notes Join us in this episode as we celebrate a special birthday and dive into the intricacies of retirement planning with our ongoing case study featuring Laura and Nick. Discover the unique financial journeys of Laura, who built her assets in the private sector, and Nick, who leveraged his military and government service benefits. We explore the importance of understanding your resources, conducting feasibility tests, and redefining the concept of retirement. Get insights into how setting clear goals, managing assets, and maintaining health and fitness can lead to a fulfilling next phase of life. Plus, learn how to participate in our live results show and open house for the Rock Retirement Club. Tune in for a wealth of knowledge and inspiration! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Today is Roger’s birthday(00:50) Today we talk about the resources that Nick and Laura have(01:40) One thing that's critical in doing a retirement plan of record is knowing what's feasible(04:50) When you work just because you want to, you look at decisions differently. LAURA’S RESOURCES(07:11) Laura talks about care for her elderly mom.(08:00) Laura reflects on her goals and values from last week’s episode.(10:11) Roger and Laura talk about health and fitness.(13:50) Today we talk about how Laura will pay for her goals and the three sources of capital.(19:08) Roger asks about human capital and Laura’s plans.(20:23) Laura and Roger discuss financial assets.(27:05) Roger asks Laura about her house and debt.(28:35) Laura discusses end of life plans for her aging mother.(30:30) Now we need to do a feasibility study.(31:12) Laura asks Roger about taxes.(35:45) Next week we will talk about risks. NICK’S RESOURCES(36:05) Roger asks Nick how the year has started for him and asks what his word for 2025 might be.(37:55) Today Roger and Nick discuss the three sources of capital that are needed to fund Nick’s goals.(42:55) Roger asks Nick if he plans to work at all after retirement.(44:00) They discuss Nick’s financial assets and investments.(47:00) Roger inquires about Nick’s expected inheritance.(50:20) Nick discusses his current debt.(51:08) Roger asks Nick what he splurges on for himself. SMART SPRINT(54:49) In the next seven days, I challenge you to update your net worth statements. BONUS(56:16) Roger reads another excerpt from his grandfather's WWII journal. RESOURCESRetirement Answer ManRegister for the Retirement Plan Live results webinars!The Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Social Security Administration BOOKSUnreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect- Will Guidara Show notes created by https://headliner.app

Transcribed - Published: 22 January 2025

Welcome to the latest episode of the Retirement Answer Man Show, where we explore the journey to a fulfilling retirement. Join us as we continue our live case studies with Laura and Nick, who share their goals and aspirations for their ideal retirement life. This episode offers insights into planning for a future that aligns with your values, including discussions on long-term care, financial independence, and the importance of self-reflection. Plus, we tackle a listener's question about retirement planning conferences and share details about our upcoming Rock Retirement Club Roundup. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:30) We are on week 2 of our LIVE case studies with Laura and Nick.(01:30) Question from listener Brad about retirement planning conferences.(03:35) We will share the agenda from the 2024 Roundup in our Six Shot Saturday email. LAURA’S GOALS FOR RETIREMENT(04:30) Laura reflects on talking about herself on the show.(08:30) Laura talks about her mom and helping her navigate old age.(12:20) This week we're going to focus on turning your values into goals.(13:35) Laura shares her estimated monthly expenses to maintain a base great life.(16:07) Laura talks about her transportation and car buying habits(18:40) Laura discusses potential home improvements in the next 10 years.(20:05) Laura estimates the cost for her moms continued care.(23:12) We estimate an annual travel expense for 15 years.(28:00) Next week, we'll examine what resources you have to pay for your life NICK’S GOALS FOR RETIREMENT(28:35) Today we're going to talk about what Nick wants for retirement(30:15) What does it cost to live the life of Nick on an annual basis?(31:24) Nick talks about healthcare costs.(33:25) We talk about other nonnegotiables for Nick.(34:20) Nick talks about travel plans in retirement.(36:33) Nick discusses his desire to be able to leave some money to his nieces and nephews.(39:40) Nick plans to leave some money for the charitable organizations he supports.(41:55) Nick talks about purchasing longterm care as he ages versus joining a continuing care community.(46:25) Are you planted community wise? Is this where you're going to be longterm?(48:17) Was there anything that you wanted to put on that lifestyle design worksheet that you didn’t? SMART SPRINT(50:55) In the next seven days, grab the retirement lifestyle workbook from our Six Shot Saturday email and start to think about what it is that you want in retirement. BONUS(51:55) Roger reads from his grandfather's WWII log. RESOURCESRetirement Podcast NetworkRetirement Answer ManRegister for the Retirement Plan Live results webinars!The Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!BooksDie With Zero: Getting All You Can from Your Money and Your Life by Bill PerkinsThe Five Regrets of the Dying by Bronnie WareAuthor- Arthur BrooksShow notes created by https://headliner.app

Transcribed - Published: 15 January 2025

This episode explores the exhilarating concept of "rocking retirement," inspired by Hunter S. Thompson's famous quote. Join us as we dive into the stories of Laura and Nick, two people on the brink of retirement, each with unique paths and values. Discover how they plan to embrace retirement as single individuals, and learn the importance of identifying your personal values to achieve a fulfilling life. Plus, find out how to participate in our upcoming live events and gain insights into crafting your retirement journey. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(01:14) Agile Retirement Management focuses on helping people go all in on their retirementMEET LAURA(06:35) Introducing Laura(11:14) Laura is caring for her mother in addition to working full-time(13:07) Her thoughts on living alone from a social standpoint and replacing the social network of coworkers(15:07) Laura’s hobbies(16:13) Laura says she lives within her means and is very frugal(18:18) Laura’s top 10 values(20:00) Her experience and perspective on losing friends to cancer at a young age(22:46) The importance of making your own decisions, not always doing what society saysMEET NICK(29:19) Roger introduces Nick(30:26) Why Nick volunteered for retirement plan live(33:00) Nick was a budget analyst in the military for 22 years, then transitioned to civil service(34:49) Nick is ready to leave government work(39:12) What is it about a paycheck that changes Nick’s feelings about work?(41:56) Nick’s values exercise(44:41) Why is travel a common goal in retirement?(47:58) Reading the list of Nick’s values(53:00) Values direct our goalsSMART SPRINT(55:01) Grab the values worksheet and complete itBONUS(55:13) Roger’s grandfather's log from World War II Resources:Sign up for 6-Shot Saturday.Register for the Retirement Plan Live results webinars!Book - Essentialism: The Disciplined Pursuit of Less by Greg McKeownThe Retirement Answer Man Free Worksheet LibraryRetirement Podcast Network

Transcribed - Published: 8 January 2025

💬 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 Nicholshttps://www.align.financial/tanya-nichols/ Roger Whitneyhttps://rogerwhitney.com Book- Gospel of Wealth  by Andrew Carnegiehttps://www.carnegie.org/publications/the-gospel-of-wealth/ Mark's Money Mind Podcasthttps://marksmoneymind.com Life Changer Loanhttps://lifechangerloan.comShow notes created by https://headliner.app

Transcribed - Published: 1 January 2025

In this special Christmas Day episode, we explore the art of reflection as we approach the end of 2024. Join us as we dive into Tanya Nichols' year-end reflection protocol and challenge ourselves to look back on our successes, failures, and lessons learned. We'll also answer listener questions on topics ranging from Roth contributions to mortgage strategies. Plus, get a sneak peek into 2025 with upcoming episodes focused on retiring single and live case studies. Don't miss this opportunity to glean wisdom and set intentions for the new year. PRACTICAL PLANNING SEGMENT (00:45) It is a good time of year to reflect on 2024(03:00) Today we are going to work through Tanya Nichol’s end of year 2024 worksheet.(03:47) What are some successes you achieved this year, professionally and personally?(06:15) What are some failures this year that you're not proud of?(06:56) What are some things you wish you had done in 2024?(07:27) What are things that you thought were really critical last year that are meaningless now?(08:03) The next category for 2024 reflection is what made me truly happy in 2024?(09:10) What made you deeply sad this last year?(10:00) Next category. Something new I discovered about myself this year(10:50) What did you love in 2024?(11:12) When you reflect on 2024, what seasons are ending for you?(12:15) What new seasons are coming?(14:20) My theme for 2025 is outdoors. I want to be outdoors more next year.(15:00) Our team word for 2025 is HONE.  LISTENER QUESTIONS(15:51) Bob asks about Roth contribution limits as a low earned income household for 2024(18:11) Listener Brian has found a way to keep his brain active by attending college courses to work on his Mindset nonfinancial pillar.(21:01) Our next question comes from Jim related to paying down a mortgage(26:50) Nancy just wanted to share her gratitude as a long time listener of the show. SMART SPRINT(27:17) Grab the intention worksheet that we're going to share on Six Shot Saturday and reflect on your 2024 BONUS(28:06) Roger shares the next entry from his grandfather's WWII journalShow notes created by https://headliner.app

Transcribed - Published: 25 December 2024

💬 Show Notes Join us in this episode as we delve into the complexities of retirement planning with Dr. Daniel Crosby, author of The Soul of Wealth. Discover the importance of learning what to ignore and how to trust your inner voice amidst the noise. We also explore the nuances of health management with Dr. Bobby Dubois, discussing how to tailor your health journey to your unique style. Plus, get a sneak peek into the upcoming Retirement Plan Live case study and exciting changes for the show in 2025. (00:30) Today we are going to talk to Doctor Daniel Crosby and Doctor Bobby Dubois(04:20) Retirement Plan Live starts in January. We will have two subjects this go round, both are retiring single, with no children.(05:30) In 2025, the show will be more focused on retirement. INTERVIEW WITH DANIEL CROSBY(06:20) Welcome Doctor Daniel Crosby to the show.(07:00) We are going to focus on a chapter in The Soul of Wealth, Learning What to Ignore.(08:15) Daniel: I feel like our attention is being pulled in negative ways...We live in a world where we are utterly unprepared for the amount of information coming our way.(10:35) Daniel: Going back to the top of your funnel and figuring out what you want can be deeply obscured by focusing on the wrong thing.(12:35) Daniel: The reason that we are at the top of the food chain is our ability to work cooperatively together and part of working together is benchmarking with each other.(13:20) Roger: Whatever your vision is should be a reflection of your values.(17:55) Roger: We have to know what to pay attention to when it comes to practical planning so we don't spend too much time focusing on the wrong thing. What are those filtering questions?(19:05) Question 1:  Do you have a reason to believe the accuracy of this information?(21:31) Question 2: What is the motivation of the person giving forecast or information?(26:20) Daniel: That which we obtain too easily, we esteem too lightly.(27:15) Question 3: Will I care about this in the next 5 years?(29:29) Daniel: “Given the state of everything,” is kind of how everyone feels all the time.(30:30) Last question: Does this matter to my finances or my soul?(33:40) Daniel: When people look back on their lives, they don’t care about work and money all that much. INTERVIEW WITH DR BOBBY DUBOIS(35:50) Dr. Bobby Dubois joins us to talk about energy and retirement.(36:41) Today we are going to talk about HOW we approach our health.(38:06) Bobby: One size fits all doesn't reflect our personality types. How things motivate us are not the same from one person to another.(40:02) Roger: Quote from Neal Stephenson might apply to today's longevity discussion. Most of us are too busy living our lives to think about longevity.(41:35) Bobby: There are five different health types and there's a quiz to identify them(42:11) Bobby: The first type is the holistic health hacker, wellness is front and center.(43:52) Bobby: Next is single minded achievers, they focus on one or two things and can get tunnel vision. (45:55) Bobby: Purposeful path planners are folks who are motivated about their health but can get overwhelmed by information.(47:39) Bobby: Contentment creators have mastered the art of enjoying life. Life is front and center and health is secondary.(49:40) The last type is the smallest in my database, hopeful health seekers. They keep at it and don’t give up but they haven’t found the way toward health.(51:17) Bobby talks about Roger being a purposeful path planner.(55:36) Roger: There's a difference between deciding, indecisive, and undecided(59:40) Your health type may change over time. SMART SPRINT(01:05:42) IN the next seven days, I challenge you to use Dr Crosby’s focusing questions to strengthen the muscle around what you should pay attention to and what you should ignore. BONUS(01:06:23) All right, mission number seven and eight, July 8, 1944. Ship number 188, sortie 5th ViennaShow notes created by https://headliner.app Rational optimism ✍️ Episode References Dr. Daniel Crosbyhttps://www.danielcrosby.com/ The Soul of Wealthhttps://harriman.house/books/the-soul-of-wealth/ Dr. Bobby Duboishttps://www.drbobbylivelongandwell.com/ James Clearhttps://jamesclear.com/ Cal Newporthttps://www.calnewport.com/books/deep-work/ The Rational Optimist: How Prosperity Evolves- Matt Ridleyhttps://www.amazon.com/Rational-Optimist-Prosperity-Evolves-P-s/dp/0061452068

Transcribed - Published: 18 December 2024

In this episode, Roger discusses the impact of our relationship with "stuff" on our retirement journey. With the holiday season upon us, we're all about giving and receiving, but how does this accumulation affect us long-term? Michael Easter, author of The Comfort Crisis and Scarcity Brain, joins the conversation and shares insights on distinguishing between gear and stuff. Michael shares insights on the psychological and societal influences driving consumption and offers practical tips for making more mindful purchasing decisions. We also address listener questions on topics like the tax implications of campaign promises and master limited partnerships. Tune in for a thought-provoking discussion that might just change the way you view your possessions and retirement planning.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN[01:00] Our relationship with stuff can have second and third order consequences in retirement[01:50] How watching the Buy Now documentary inspired Roger to think about possessions[03:10] The impact of clutter on retirementGEAR VS. STUFF CHAT WITH MICHAEL EASTER[05:40] How the amount of items in the average home has changed over time and why[07:36] Michael Easter defines gear and stuff [09:39] Humans evolved to get as much information as possible[12:00] Managing gear vs. stuff in holiday shopping[12:45] How ecommerce platforms have taken features from casinos to help speed purchases[14:25] Strategies to reduce needless purchases[19:50] Roger’s plan for gifts this yearLISTENER QUESTIONS[23:45] David’s comment on verse and versus[24:55] Mary on how to ask better questions[26:26] Armand asks why we aren’t discussing potential elimination of income tax on Social Security[30:41] Todd has a question about master limited partnership stocksSMART SPRINT[38:00] Be aware of your purchases this holiday season - are you buying gear or stuff? Resources Mentioned In This Episode Michael Easter Cal Newport Books: The Comfort Crisis and Scarcity Brain by Michael Easter Netflix documentary Buy Now Six-Shot Saturday

Transcribed - Published: 11 December 2024

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 journal REFERENCESWade Pfau Morningstar  The Retirement Manifest- Fritz Gilbert Daughterhood.org Christine Benz Six Shot Saturday BOOKSHow 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 Whitney Show notes created by https://headliner.app

Transcribed - Published: 4 December 2024

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 Quote https://simonsinek.com/ Red Cross https://www.redcross.org/Schwab Donor-Advised Fund https://www.schwabcharitable.org/Fidelity Donor-Advised Fund https://www.fidelitycharitable.org/ Upcoming Podcast Guests:Christine Benz https://www.morningstar.com/people/christine-benzMichael Easter https://eastermichael.com/Daniel Crosby https://orion.com/thought-leader/daniel-crosbyTanya Nichols https://www.align.financial/tanya-nichols/ Retirement Podcast Network https://retirementpodcastnetwork.com/Six Shot Saturday https://rogerwhitney.com/six-shot-saturdayShow notes created by https://headliner.app

Transcribed - Published: 27 November 2024

Join us in this insightful episode as we continue our series on year-end action items, focusing on optimizing your retirement planning. Today, we delve into the intricacies of withdrawing assets, discussing everything from flexible spending accounts to inherited IRAs. We also explore the concept of "gear, not stuff" with insights from Michael Easter, and how making thoughtful purchasing decisions can impact your financial health and the environment. Don't miss our deep dive into tax strategies and the importance of building a resilient retirement plan. Plus, we answer listener questions about decumulation, working with financial advisors, and more. Tune in to take actionable steps toward a secure and fulfilling retirement! PRACTICAL PLANNING SEGMENT(00:00) This week we continue to discuss year end action items to optimize your retirement planning(00:50) We are gearing up for a retirement plan live case study for January. This time we will be focusing on someone who is single with no children.(02:10) Roger shares an anecdote about having his kitchen cabinets painted and discusses gear versus stuff.(05:00) Roger discusses the importance of buying high quality items that last.(07:25) Today we're going to talk about accounts we should consider withdrawing money from before the end of the year. First up are FSA accounts.(08:14) The next accounts we are going to talk about are inherited pre-tax accounts.(09:30) If you inherited an IRA prior to January 1, 2020, your required minimum distribution is required to be taken out by the end of this year.(10:48) What happens if you inherited an IRA after 2020?(12:25) Since the Secure Act 2.0 started in 2023, the penalty for not taking the required minimum distribution is 25% of what you should have taken.(13:35) The next type of required minimum distributions we are going to talk about are those that are age related for original IRA owners.(15:03) Proactively taking qualified distributions can lower your overall tax rate in retirement. LISTENER QUESTIONS (20:44) Next Month, we'll focus on answering some of your questions on AskRoger.(21:12) The first question comes from Scott about principal versus interest and decumulation.(28:59) Next, Joy says she needs help with retirement planning and decumulation of assets.(32:45) Mike asks about decumulation and resilience. How should pre-retirees position retirement assets as they reach the last five years or so before retirement?(39:11) Tom asks about the five year rule for Roth 401k conversions. SMART SPRINT(41:08) Take a look at the items that we talked about in terms of withdrawing assets. BONUS(41:45) Roger reads another excerpt from his grandfather's war journal.REFERENCESAsk Rogerhttps://www.rogerwhitney.com/askroger Michael Easter https://twopct.com Dinkytown Calculators- specifically the 10/40 tax estimator https://dinkytown.net Schwab Required Minimum Distribution Calculator https://www.schwab.com/ira/ira-calculators/inherited-ira-distribution-calculator Six Shot Saturday https://6shotsaturday.comShow notes created by https://headliner.app

Transcribed - Published: 20 November 2024

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 Saturday Rock Retirement Club Retirement Answer Man- FREE Resource Center Show notes created by https://headliner.app

Transcribed - Published: 13 November 2024

Welcome to a transformative episode where we delve into year-end financial strategies to optimize your retirement planning. Join us as we discuss tax-loss harvesting with Erin Coe, a seasoned planner and tax expert. Learn how to strategically sell capital assets at a loss to reduce your tax burden and explore the nuances of capital gains, wash-sale rules, and more. Plus, we answer listener questions about Roth conversions and annuities. Don't miss this insightful guide to maximizing your financial health! PRACTICAL PLANNING SEGMENT(00:25) Today on the show we begin to explore year-end action items.(02:23) So now that we're into tax season, we're going to do a primer on tax-loss harvesting with Erin Coe.(03:59) Tax-loss harvesting is the act of intentionally selling capital assets at a loss(05:25) Defining what a capital loss is(08:42)The intent is to reduce taxable income and reduce taxable liability (10:12) How do you gauge the impact of this?(13:34) Leave some buffer room to be careful on tax cliffs(15:35) The wash-sale rule means you can't sell a capital asset and claim that loss and then repurchase it within 30 days(21:27) What are some gotchas that we need to watch out for when evaluating portfolios?(22:24) Another problem is those carry forwards, you need to track it every year whether you are using it or not.(25:38) Tax loss harvesting is not just a December activity, it’s a year-round sport LISTENER QUESTIONS(28:05) Greg asks a question about Roth conversions for his older relative(34:24) Stanley says his wife has a taxable MYGA, multi year guaranteed annuity, and wants to know if he should take the lump sum or roll it into something else.(40:28) Jay asks about the pie or bucket approach SMART SPRINT(46:50) Review your after-tax accounts looking for unrealized losses and examine whether you can use them productively  Join our live event on Roth conversions at livewithroger.com or sign up for the replay at sixshotsaturday.com. REFERENCES  Dinkytown.netTurbo TaxRetirement Podcast Network Six Shot SaturdayRetirement Answer Man

Transcribed - Published: 6 November 2024

Welcome to our latest episode, where we focus on empowering your retirement journey with clarity and energy. Today, we delve into two powerful mental models, Occam's Razor and Hanlon's Razor, to simplify your retirement planning and decision-making processes. We also welcome back Dr. Bobby Dubois in our Rock Life segment, where he shares insights on living longer and more energetically. Don't miss our discussion on practical steps to enhance your life and retirement. PRACTICAL PLANNING SEGMENT(00:55) Roger will host a live online meetup on November 7 to discuss ROTH Conversions(02:30) Today we are going to talk about Occam’s Razor and Hanlon’s Razor(04:20) Occam’s Razor talks about when confronted with multiple options, the simplest is the best. Don’t overcomplicate things.(05:20) How to apply Occam's Razor in retirement planning(10:43) Hanlon's razor says never attribute to malice that which can be adequately explained by  incompetence or ignorance(12:15) Humans are messy and are usually not trying to harm or cause problems(12:50) How do you apply Hanlon’s Razor to retirement planning? INTERVIEW WITH DR. BOBBY(15:53) Today we are going to focus on building energy and discuss four different studies about inflammation.(17:00) The first study talks about how sleep impacts inflammation.(21:45) The next study discusses measures of inflammation that can be tested in the blood and what they suggest.(26:05) Third study shows exercise can improve our sleep and reduce inflammation(28:20) One study looked at five characteristics of an 80 year old to determine who was more likely to live to 100.(30:54) The takeaways are, there are things we can do that can really help us live long and well. Sleep, exercise, and diet can really make a difference in longevity.  SMART SPRINT(32:40) I want you to look for an opportunity to practice Occam’s or Hanlon’s Razor in the next seven days. Six Shot Saturday Email  Retirement Answer Man Webinar Registration Books:The Great Mental Models- Shane Parrish Podcasts:Live Long and Well with Dr. Bobby- Episode 3: Sleep

Transcribed - Published: 30 October 2024

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

Transcribed - Published: 23 October 2024

Join us in this insightful episode as we explore the concept of 'The Map vs. The Territory' in retirement planning. Discover how mental models can enhance decision-making and lead to a more fulfilling retirement. Our special guest, Dr. Daniel Crosby, discusses his latest book, "The Soul of Wealth," offering profound insights into achieving soulful wealth beyond mere numbers. Learn how to balance maps and reality, and the importance of feedback loops in financial planning. Plus, get practical advice on adapting to the unpredictable nature of life and finances. Don't miss this engaging conversation on rocking retirement with agility and purpose! PRACTICAL PLANNING SEGMENT(00:30) Talking about the map versus the territory and how it applies to retirement(2:00) Personal anecdote about GPS maps (4:00) Maps are a good abstraction to help us navigate things but understand maps are not reality(5:15) Practical example using map versus territory(07:25) Maps can be very useful in retirement planning, but they can also have limitations(9:00) If we view map as reality, it’s easy to create static rules and can reduce our ability to adapt(10:00) In the context of retirement planning, the map is the plan and comes with a lot of limitations.(12:31) There are multiple ways to deal with variability of inflationINTERVIEW WITH AUTHOR DR. DANIEL CROSBY(16:22) Dr. Daniel Crosby is the author of the newly released book The Soul of Wealth (18:25) Use a phrase called soulful wealth to describe what makes life rich(20:00) Retirement is not a spreadsheet(22:48) Martin Seligman is the father of positive psychology and the PERMA Model(29:37) You have to get very specific in what it means to have meaning in life(31:00) The Three B’s of having purpose in life- Believing, Belonging, Becoming (35:26) What is it, especially around retirement, that creates this crisis of confidence with people?(39:25) Identify when you are lying to yourself and it becomes harder to be complacent (40:45) Have a purpose for your money(44:55) One of the most fulfilling ways to spend money is giving it awaySMART SPRINT(48:32) In the next seven days, evaluate whatever retirement plan you have in place and identify specifically what is the feedback loop to improve that plan.RESOURCESDr. Daniel Crosby https://www.danielcrosby.comThe Soul of Wealth https://www.amazon.com/Soul-Wealth-reflections-money-meaning/dp/1804090441Six Shot Saturday https://sixshotsaturday.comOrion Advisor Services https://www.orion.comMartin Seligman https://www.authentichappiness.sas.upenn.edu

Transcribed - Published: 16 October 2024

Welcome to the second week of our series on improving decision-making skills with mental models to help you rock retirement! This week, we delve into the concept of second order thinking, also known as the law of unintended consequences. Learn how to think beyond immediate outcomes and explore the long-term impacts of your decisions, whether it's buying a new car or helping your child with a down payment. We'll also share insightful stories from RRC retirees who have navigated the transition to retirement, offering wisdom on what they were excited about, what they worried about, and how their perspectives have changed. Plus, we answer your questions and discuss practical applications of second order thinking in retirement planning. Join us for an episode packed with valuable insights and tips to enhance your retirement journey! PRACTICAL PLANNING SEGMENT(00:00) This week's show focuses on improving decision making skills ahead of retirement(01:15) Revisiting inversion thinking with listener feedback(03:18) Shoutout to RRC Member Kevin(5:00) Starting our second mental model: Second order thinking or the law of unintended consequence(9:00) Reflecting on giving money productively to children using second order thinking (12:58) Second order consequence thinking can help you tease out downstream consequences of retirement planning(13:40) Building a retirement plan of record thinking in second order consequence thinking.RRC RETIREE INTERVIEWS(15:20) Talking to our own Kevin Sebesta about retirement (18:09) What is a fun bucket?(23:00) Talking with two-year retiree, Bob, about what his concerns were before retirement and what he was most looking forward to.(27:54) Bob talks about making indulgent purchases in retirement.(30:46) Asking Bob what advice he would have given his younger self.(33:01) Talking to five-year retiree, Becky, about her concerns prior to retirement.(36:06) When you retired, would you say you were overfunded or very constrained?(38:00) How were you comfortable with the unknown going into retirement?(39:30) How important is it to have friends who are on a similar journey?(44:57) Talking to four-year retiree, Jack, about his concerns two years prior to retirement.(48:35) Jack talks about volunteering at food pantries and food banks.(50:46) How do you avoid getting bored in retirement?(52:04) What would you have done differently when it comes to transitioning to retirement?(53:15) Talking with five-year retiree, Chip, about transitioning from professional to retiree.(55:55) A year or two before retirement, what were your biggest concerns?(56:50) “Getting laid off was probably the best thing that ever happened to me.”(59:17) It's been a journey after retirement figuring out how to manage your time(01:03:10) Looking back, is there anything you would’ve done differently?LISTENER QUESTIONS(01:05:14) Mikey asks about withdrawing social security before seventy.(01:09:23) Mike and Bonnie ask about using debt for tax management purposes(01:16:21) Dirk asks about principle protected, structured ETFs(01:17:25) What is principal protection structured ETF?(01:23:59) Tim asks about investing based on newsletters.SMART SPRINT(01:28:59) Use second order thinking to help you make low-stakes decisionsREFERENCESRock Retirement Club https://rockretirementclub.com   Six Shot Saturday https://sixshotsaturday.com   Roger Whitney https://rogerwhitney.com  

Transcribed - Published: 9 October 2024

Welcome to another insightful episode where we kick off a month-long series on improving your decision-making abilities. This week, we delve into the concept of inversion, a powerful mental model that can significantly enhance your retirement planning. Learn how to avoid common unforced errors and make better decisions to ensure a successful retirement. Plus, get answers to listener questions about HSAs, security issues, and investment strategies. Don't miss this episode packed with practical advice and useful tips! PRACTICAL PLANNING SEGEMENT(00:30) This week starts a month-long series on improving your decision-making abilities(04:38) First mental model- Inversion(10:30) Inversion in investing(12:20) Combining inversion with the vision pillar to determine what you want your life to be(15:00) Using things you don’t want to help build goals of what you DO want(15:54) Inversion with energy pillar. What do I need to AVOID to get more energy?LISTENER QUESTIONS(17:55) Jay asks about HSA and transferring funds(21:55) Questions from Connie about password website, onepassword.com, and about securing social security account.(24:55) Question about financial advisors and Dimensional Funds(30:12) Linda asks about asset allocation and optimization.BRING IT ON SEGMENT                                   (33:33) Kevin Lyles comes on to talk about identity(37:15) Identity after retirement and losing your work identity (43:07) Identify what you got from your career identity-wise that you want to continue in retirementSMART SPRINT(52:55) In the next 7 days when faced with a decision, think about inverting the question.RESOURCESRock Retirement Club https://rockretirementclub.com Six Shot Saturday https://sixshotsaturday.com Roger Whitney https://rogerwhitney.com Vanguard https://vanguard.com Charles Ellis, Winning the Loser's Game https://www.amazon.com/Winning-Losers-Game-Strategy-Investing/dp/1264257697 Bronnie Ware, The Top Five Regrets of the Dying https://www.amazon.com/Top-Five-Regrets-Dying-Transformed/dp/140194065X One Password https://1password.com LastPass https://lastpass.com Login.gov https://login.gov ID.me https://id.me Dimensional Fund Advisors https://us.dimensional.com Avantis Investors https://www.avantisinvestors.comThe Retirement Collective- Shared Wisdom from Top Retirement Coaches https://www.amazon.com/Retirement-Collective-Shared-Wisdom-Coaches/dp/1951915186

Transcribed - Published: 2 October 2024

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

Transcribed - Published: 25 September 2024

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

Transcribed - Published: 18 September 2024