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/askrogerMichael Easterhttps://twopct.comDinkytown Calculators- specifically the 10/40 tax estimatorhttps://dinkytown.netSchwab Required Minimum Distribution Calculatorhttps://www.schwab.com/ira/ira-calculators/inherited-ira-distribution-calculatorSix Shot Saturdayhttps://6shotsaturday.comShow notes created by https://headliner.app

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

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 sportLISTENER 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 approachSMART 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 NetworkSix Shot SaturdayRetirement Answer Man

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 RegistrationBooks:The Great Mental Models- Shane ParrishPodcasts:Live Long and Well with Dr. Bobby- Episode 3: Sleep

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

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 Crosbyhttps://www.danielcrosby.comThe Soul of Wealthhttps://www.amazon.com/Soul-Wealth-reflections-money-meaning/dp/1804090441Six Shot Saturdayhttps://sixshotsaturday.comOrion Advisor Serviceshttps://www.orion.comMartin Seligmanhttps://www.authentichappiness.sas.upenn.edu

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 Clubhttps://rockretirementclub.com Six Shot Saturdayhttps://sixshotsaturday.com Roger Whitneyhttps://rogerwhitney.comCatching Up to FI Podcasthttps://catchinguptofi.comFooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219

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 Clubhttps://rockretirementclub.comSix Shot Saturdayhttps://sixshotsaturday.comRoger Whitneyhttps://rogerwhitney.comVanguardhttps://vanguard.comCharles Ellis, Winning the Loser's Gamehttps://www.amazon.com/Winning-Losers-Game-Strategy-Investing/dp/1264257697Bronnie Ware, The Top Five Regrets of the Dyinghttps://www.amazon.com/Top-Five-Regrets-Dying-Transformed/dp/140194065XOne Passwordhttps://1password.comLastPasshttps://lastpass.comLogin.govhttps://login.govID.mehttps://id.meDimensional Fund Advisorshttps://us.dimensional.comAvantis Investorshttps://www.avantisinvestors.comThe Retirement Collective- Shared Wisdom from Top Retirement Coacheshttps://www.amazon.com/Retirement-Collective-Shared-Wisdom-Coaches/dp/1951915186

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

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

This month, we're revisiting the eight pillars of rocking retirement. Today, we focus on the second two financial pillars: having a resilient plan of record and optimizing the plan to enhance the journey. Many people are good at setting goals and determining feasibility, but often overlook the importance of resilience in their retirement plan. We delve into how to stress test your plan for various risks like bear markets, health care shocks, and premature death, and how to build redundancies to make your plan more robust. We also discuss optimizing your plan with tax strategies, investment implementation, and legacy planning.PRACTICAL PLANNING SEGMENT-[00:35] - Introduction to the eight pillars of rocking retirement- [04:55] Building a Resilient Retirement Plan- [10:30] Building a funding strategy for the first five years of retirement- [14:38] The fourth pillar: OptimizationLISTENER QUESTIONS- [18:55] Mark asks about estimating Social Security benefits- [20:32] Mary inquires about investing in Real Estate Investment Trusts versus private crowdfunding platforms- [27:20] John seeks advice on choosing a retirement planner- [31:58] Tammy's question on whether to sell a high-value home for liquidityBRING IT ON SEGMENT- [36:37] Building relationships and the importance of micro rolesSMART SPRINT SEGMENT- [42:50] Assess the resilience of your retirement planResources Mentioned In This EpisodeSix Shot Saturdayhttps://sixshotsaturday.comJeremy Siegel's "Stocks for the Long Run"https://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514Roger's YouTube Channel - Roger ThatBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning Center

This September, we're doing something a bit different. We're revisiting the basics with a refresher on the eight pillars of rocking retirement—four financial and four non-financial pillars that form the foundation for a great life. Too often, retirement planning gets bogged down with too many details and the pressure to get everything right. But in my experience, focusing on the most important things gets you 90% of the way there. This month, we’ll air classic episodes to revisit these pillars, starting today with the first two financial pillars: Vision and Feasibility.The first financial pillar we are going to discuss is VISION. How do you start to figure out your vision in retirement? We would suggest reconnecting with who you actually are outside of your identity as an employee and identifying your core values. The second pillar in the financial realm is having a FEASIBLE plan. The objective is to establish a foundation of a safe path that is feasible given the resources and the choices that you are willing to make. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MANPRACTICAL PLANNING SEGMENT- 00:28 September will focus on the eight pillars of rocking retirement- 08:00 First two pillars of rock retirement are vision and feasibility- 08:14 Vision: What do you want when you retire? - 13:28 What are some of the obstacles to creating a vision in retirement?- 17:44 The next pillar in the financial realm is having a feasible planLISTENER QUESTIONS- 24:10 Listener Scott has a tip about going from two to one- 26:13 Bill discusses piecake - 27:44 Our next question is from Steve related to asset allocation in retirement- 33:53 Another listener, Steve, wants to know if a stable value fund is a good investmentBRING IT ON - 38:33 Kevin Lyles talks passion in work and volunteering in retirement SMART SPRINT- 45:55 Think about your life as a clean slate✍️ Episode ReferencesSix Shot Saturdayhttps://sixshotsaturday.comThe Top Five Regrets of the Dying- Bronnie Ware https://bronnieware.com/regrets-of-the-dying/The Retirement Manifesto- Fritz Gilberthttps://www.theretirementmanifesto.com/Stocks for the Long Run- Jeremy Siegelhttps://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514

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

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

If you have a special needs child, you know that your retirement plan will need to include plans for their future. How do you create a great retirement while honoring and caring for your child with special needs who will most likely live beyond your years? That’s what we’ll be learning today. In this episode, Matt from Haystack Financial Planning joins me to explore this question. His practice specializes in serving the disabled community and he offers years of experience in this area. Press play to learn what you can do to take care of your children while making the most of your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLANNING WHEN YOU HAVE A SPECIAL NEEDS CHILD [2:30] Why Matt chose this path[4:25] How to plan for your child’s needs[7:40] How to determine the costs needed[12:02] What other tools do these children have available to them?[14:38] What is an ABLE account[20:07] How to approach guardianship[22:42] Resources to helpLISTENER QUESTIONS WITH NICHOLE [24:42] How Nichole has been doing[25:25] Maggie’s backdoor Roth conversion question[29:38] On the order of withdrawals in retirement[33:33] How much will I need to self-insure for long-term care?[40:46] How to handle finances as a newly married couple[45:55] My plans with Michael EasterTODAY’S SMART SPRINT SEGMENT [47:39] Limit your exposure to mainstream media related to the electionResources Mentioned In This Episode Haystack Financial Planning ABLE 529 accountBOOK - The Special Needs Planning Guide by John NadwornyBOOK - Retire Secure for Parents of a Child with a Disability by James LangeRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center

Military retirees have a unique set of circumstances and opportunities. In this episode, military retiree and retirement planner Scott Sanborn joins me to explore the financial and non-financial aspects that come with a military retirement. Over the next month, we’ll be exploring different ways of retiring. If you have special retirement circumstances, you won’t want to miss this unique retirement series. Stay tuned for episodes on retiring with special needs children, retiring abroad, and retiring with illness or injury. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MILITARY RETIREMENT WITH SCOTT SANDBORN [3:40] Why did Scott become a retirement planner?[5:36] What it means to retire from the military[7:15] How retiring from the military is different[13:18] Understanding the healthcare benefits[17:55] Reimagining your second actLISTENER QUESTIONS [29:40] Penny is trying to decide whether to stay or move closer to family[37:28] How to decide when and how to relocate[39:41] How to pay the tax from my Roth conversions?[41:22] Is the IRMAA surcharge calculated each year?[42:40] How should I create my retirement paycheck? By withdrawing a lump sum or smaller amounts each month?[45:20] Standard deviation and creating an N of 1TODAY’S SMART SPRINT SEGMENT [47:55] Remember what your intent is Resources Mentioned In This Episode Scott SanbornRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

So many retirement questions have no right answers. They’re simply judgment calls. In this episode, we’ll explore whether it makes sense to switch to a Roth 401K.Don’t listen to find out the answer. Listen to learn the process to use to come up with your own answer. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS [2:03] Does it make sense to switch to a Roth 401K[13:55] An IRMAA surcharge question[18:18] Can you use the Rule of 55 for a Solo 401K?[20:36] A backdoor Roth question[26:22] A 5-year rule Roth IRA question[28:36] An organized Social Security questionWISDOM FROM THOSE ON THE JOURNEY [31:31] What I wish I had known from Elaine[33:27] What a 70-year-old has learned about retirementTODAY’S SMART SPRINT SEGMENT [36:48] Relax and don’t worry about retirementResources Mentioned In This Episode My recent Forbes articleRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

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

If you’ve ever searched for a financial professional you may have seen an endless string of letters after their names. Trying to figure out the financial advisor alphabet soup is exhausting.One listener threw his hands up and asked me what all those letters mean. On this episode, we’ll explore the meanings behind those designations and discuss what they mean for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS [5:47] Understanding the financial advisor alphabet soup[20:24] Which designations are more important for you[22:58] Does it make sense to pay off the mortgage[31:35] On using a recast to pay off your mortgageROCK LIFE WITH DR. BOBBY [36:08] How weight relates to health[39:40] Intermittent fasting benefits[45:41] Intermittent fasting dangers?[52:00] On understanding science news articlesTODAY’S SMART SPRINT SEGMENT [1:00:47] Go have fun!Resources Mentioned In This Episode Live Long and Well with Dr. BobbyMark’s Money Mind PodcastRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

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

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

Every one of us has a different tolerance for risk. We even have different risk tolerances at different points in our lives. In this episode, we’ll learn about Mike and Judy’s comfort level with their investments. Learn how they’ll develop an investment approach that matches their risk tolerance. If you have been enjoying Mike and Judy’s journey crafting their retirement plans, you won’t want to miss their live feasibility test on July 8. Join us on the latest Retirement Plan Live by signing up at LiveWithRoger.com. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN MIKE AND JUDY’S PAST INVESTING EXPERIENCE [2:30] Your investment strategy needs to match your comfort level[5:16] Contemplating Judy’s news[17:19] Their investment philosophy[23:51] What worries them most about retirement[27:59] How will they pay for retirement?ROCK LIFE WITH KEVIN LYLES [31:30] Learning from those who have walked this path[35:33] What you can do to improve your competence in an areaTODAY’S SMART SPRINT SEGMENT [37:04] Review the RISA pdf to learn more about your risk toleranceResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

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

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

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

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

What is your risk tolerance? What does risk tolerance even mean? Why does it matter? We’ll explore these questions as I answer one of our listener’s questions on getting back into the stock market with a low risk tolerance. Listen in to learn why he may not need to follow the traditional way of doing things. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:00] How much risk to take in retirementIN THE NEWS [19:10] The AT&T data breach[23:03] What I’m going to do about it[26:00] How are password managers safer options for keeping passwords?LISTENER QUESTIONS [30:53] How does moving a 529 to a Roth IRA work?[33:32] How to know if Johnny should be looking for another financial plannerTODAY’S SMART SPRINT SEGMENT [37:35] Rethink your password protectionResources Mentioned In This Episode  1PasswordRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

 Have you thought about getting a mortgage for your home in retirement? If so, have you strategized how you would pay it off?In this episode, we explore Scott’s question about pursuing a mortgage and paying it off early. Listen in to learn some different strategies you could use if you plan to get a mortgage on your home in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:08] Should Scott get a mortgage to build his retirement home?LISTENER QUESTIONS [12:13] HSA fees can be more expensive than the interest[15:14] What should John think about when deciding on whether to get a mortgage?[19:12] On using reverse dollar cost averaging[22:07] Can we use Roth conversions to do RMDs?[25:29] Understanding investment advisory fees[29:28] Tom’s perspective on his retirementROCK LIFE [33:41] On cultivating a growth mindsetTODAY’S SMART SPRINT SEGMENT [35:00] Take your thought and do it in the momentResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Let’s get back to basics—addition and subtraction two ways to get to the same answer. However, we have a tendency to stick with addition. Today we’ll learn how subtraction can help you come out ahead.Why am I talking about elementary math on a retirement podcast? Listen in to find out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:12] Is scarcity really a negative thing?[6:04] Stop trying to aim for precision[11:17] Stop making retirement planning your new job[14:03] Stop optimizing for returns[17:42] Stop thinking you have to retire to something rather than from something[21:25] Stop thinking you can wait[24:16] Stop thinking you need to resign yourself to what isLISTENER QUESTIONS [27:10] Turn off dividend reinvestment in your decumulation phase[30:00] A rucking comment[31:03] On Social Security survivor benefits[33:26] On inherited IRAsROCK LIFE WITH DR. BOBBY DUBOIS [35:15] Movement studies[45:05] Why does movement matter?[48:51] Why the Hadza’s sedentary lifestyle is different from ours[50:55] Why vitamin D is or isn’t helpfulTODAY’S SMART SPRINT SEGMENT [1:00:34] Find an opportunity to moveResources Mentioned In This Episode YouTube video - What You Should Know if You Inherited an IRAEpisode 532 -  How To Manage Your Scarcity Brain With Michael EasterEpisode 530 -  What Is True Retirement Planning? With Christine BenzRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you ever considered moving to a retirement community? With the freedom that retirement brings, many people begin to rethink their living arrangements. On this episode, you’ll hear how Brad and his wife decided to move to a retirement community. Listen in to hear how they approached their decision, the research they put in on where to retire, and how they enjoy their new locale. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY [2:40] How Brad discovered The Villages[10:55] What led them to explore 55+ communities[13:10] How The Villages are organized[20:35] How to explore places to move in retirementLISTENER QUESTIONS [23:50] Should we consider getting I-bonds in 2024[29:50] Clarifying new catch-up rules in 2026[32:27] Charlie’s comment on systems thinking[36:18] Where to put taxes in your planning software[38:41] A suggestion for the podcastTODAY’S SMART SPRINT SEGMENT [40:06] Think about where you are going to live in retirementResources Mentioned In This Episode YouTube video - What You Should Know if You Inherited an IRA After January 1st, 2020I BondsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Does a withdrawal strategy in retirement have to be complicated or can you simply do a reverse of dollar cost averaging?In this episode, we’ll take a look at how reverse dollar-cost averaging would work by using an example and discover who it works for. Click play to learn if this withdrawal strategy would work for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH A LISTENER QUESTION [1:44] Is it okay to do a reverse dollar-cost average for withdrawals in retirement?IN THE NEWS [14:30] The rules have changed for Inherited IRAsLISTENER QUESTIONS [18:55] What should Vicky do with the proceeds from the sale of her home?[24:09] What to do with a 10-year inherited IRA[27:55] What is the best way to fund bucket #1 to prep for retirement?[35:10] A topic suggestionTODAY’S SMART SPRINT SEGMENT [36:11] Evaluate the resilience of your planResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

We would all love to have that magic number–the exact amount we need to retire. However, since there are so many unknowns it is impossible to attain an exact number. This is why the big question of retirement is a complex one. In this episode, I’ll walk a listener through the process of how she can learn how much she really needs to retire. Make sure to stick around to hear about the books I read in March. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS [1:46] How much do I really need to retire?[20:30] A comment on the FIRE movement[22:09] How to change advisors[27:28] How to get into the decumulation state of mind[32:37] Feedback on the Michael Kitces interviewBOOKS I READ IN MARCH [34:00] Books I read this past monthTODAY’S SMART SPRINT SEGMENT [36:22] Revisit your feasible plan of record to see how resilient it isResources Mentioned In This Episode BOOK - Gulag Archipelago by Aleksandr SolzhenitsynBOOK - Tai Pan James ClavellBOOK - Soul of an Octopus by Sy Montgomery The State Of Retirement Planning With Michael KitcesWhat is the FIRE Movement?NewRetirement.comRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you been wondering what retirement is like for real retirees out in the wild? With the success of our Retirement Plan Live series, we decided to try mini-case studies to learn more about what retirees like you are doing to rock retirement. In this episode, you’ll hear some feedback from Sarah who asked a question on the show about a year and a half ago. Listen in to hear how she responded to the advice I gave. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY [2:27] Sarah’s case [8:06] What you can do for you[10:01] A plan of record is the first stepLISTENER QUESTIONS [13:00] What should Lucas take into account as he prepares to pay off his mortgage[20:00] Investing in retirement with a pension[26:08] How Joe is incorporating the Die With Zero philosophy by giftingROCK LIFE WITH DR. BOBBY DUBOIS [28:24] What is rucking?[29:27] Why try rucking?[40:49] How do you get started rucking?[48:44] How to measure the benefits of ruckingTODAY’S SMART SPRINT SEGMENT [50:00] Go try rucking by walking with something on your back Resources Mentioned In This Episode  Retirement Plan Live: Their Financial Resources - listen to Sarah’s question hereGo RuckBOOK - Die with Zero by Bill PerkinsBOOK - The Power of Moments by Chip HeathRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

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

Have you ever wondered why it is so hard for you to spend your money? Even now after all these years of saving you know you have enough, but it’s hard to let go and untie those purse strings.Today, my friend and renowned author, Michael Easter joins me to discuss overcoming frugality from a different perspective. Click play to hear about the evolutionary mismatch that hinders you from spending your money. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS [2:38] Clarification on the 5-year Roth conversion rule[4:36] Simple IRA rules[6:50] The tax impact of waiting to take Social SecurityPRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER [12:00] Why Michael pursued the concept of the comfort crisis[18:32] How discomfort becomes rewarding[20:20] How we can change our decisions in small ways[24:25] How to manage your scarcity brain in retirement[33:48] We often focus too much on the numbers[36:59] The scarcity loopTODAY’S SMART SPRINT SEGMENT [41:10] Take the stairsResources Mentioned In This Episode BOOK - The Comfort Crisis by Michael EasterBOOK - Scarcity Brain by Michael EasterStutzRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

For the past ten years, we have been exploring how to do retirement right so that you can get down to the business of living a great life. This is why this month we have had a series of special guests. Today’s guest is behavioral investment expert and author Dan Crosby. Together we explore why it is so hard to overcome your money mindset and how you can learn to let go to enjoy the money you have worked so long and hard to save. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH DAN CROSBY [3:38] Overcoming frugality[10:56] How to gain confidence in the midst of uncertainty[19:19] What are things you can do to overcome your frugalityLISTENER QUESTIONS [26:52] How do people in retirement spend less money than more money?[33:44] Does it make sense to use money allocated for a 401K for a second home?[37:33] A comment on this past Retirement Plan Live[39:20] How to fund my HSA in retirement [42:13] How to look for blind spots once you have your feasible plan of recordTODAY’S SMART SPRINT SEGMENT [47:16] Is there something else important that you could add to your life or retirementResources Mentioned In This Episode BOOK - The Soul of Wealth by Dan CrosbyBOOK - The Top 5 Regrets of the Dying by Bronnie WareBOOK - Die with Nothing by Bill PerkinsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

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

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

Those who have FIREd like Keven Sebesta are choosing to rock life each day. In this final episode on the FIRE movement, we’ll explore what we can learn from them. Join Kevin and me to discover how you can do what FIRE is doing right. What can you learn from FIRE? Traditional retirement planning is all about achieving the end goal. Climbing the mountain and reaching the summit. However, FIRE embraces life today. Those in the FIRE movement see life as an endless journey to explore. Don’t wait to explore your passions and interests. Do them now. If that isn’t possible, examine how your life is structured and begin to build a life filled with intentionality. Build connections and community based on your interests. Listen in to learn how you can create a rich life now without waiting until retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:55] When I retire I will…[5:10] Lessons to learn from FIRE movement[13:43] What financial lessons to learn from FIREd people[16:23] Planning from the inside outLISTENER QUESTIONS [22:18] What is the payoff/penalty of using my IRA to do a Roth conversion?[30:25] Moving money from an IRA to an HSA[34:07] On refilling the pie cake [38:47] Make sure you have enough taxes withheld when doing Roth conversions[41:39] Can Gail open a Roth for her granddaughter?TODAY’S SMART SPRINT SEGMENT [43:33] Write down one thing that you know well and question it with a mindset of curiosityResources Mentioned In This Episode Arthur BrooksCal NewportDesigning Your Dream Life with Arthur BrooksMark’s Money MindRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Over these past few weeks, we have been discussing the FIRE movement with Kevin Sebesta, a coach in the RRC who achieved FIRE some time ago and has been rocking retirement ever since. This week Kevin helps me explore the challenges that retiring early can bring. Listen in to hear if these are similar to the issues you face in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [4:58] The challenges of leaving traditional work early[10:55] Healthcare is one of the challenges[17:28] The non-financial challenges of FIRELISTENER QUESTIONS WITH ANDY PANKO [27:44] Which Social Security benefit should we take?[31:28] Relating to working with a bad financial advisor[36:47] What to do with an overfunded whole life insurance policy[43:07] How are IRMAA surcharges calculated?TODAY’S SMART SPRINT SEGMENT [47:55] When you’re in a disagreement with someone, step out and reset yourself to gain perspectiveResources Mentioned In This Episode Retirement Planning Education podcastRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

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

Have you heard of the FIRE movement? It’s become increasingly popular in the past few years. Even if you are technically too old to retire early, there is something we can all learn from FIRE seekers. In this episode, Kevin Sebesta, a real live FIREer joins me to discuss what FIRE is, how he achieved it, and what people who retire early do with their time. Make sure to stick around for the Bring It On segment with Dr. Bobby Dubois to learn whether supplements are worth the time and money we spend on them. Dr. Bobby helps us develop a framework for deciding whether supplements are right for us. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I READ IN JANUARY [2:02] Books I read last monthPRACTICAL PLANNING SEGMENT [5:55] Meet Kevin[9:56] Defining FIRE[15:24] Who enjoys FIRE [21:23] Why FIRE has caught onBRING IT ON WITH DR. BOBBY DUBOIS [26:12] Why are supplements important?[30:54] How should we go about exploring supplements?[39:44] What do the studies show?[44:18] What about multivitamin supplements?[48:20] What supplements does Dr. Bobby support?[52:10] The takeawaysTODAY’S SMART SPRINT SEGMENT [53:58] Read a book!Resources Mentioned In This Episode BOOK - Scarcity Brain by Michael EasterBOOK - Moby Dick by Herman MelvilleBOOK - The Eye of the World by Robert JordanRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

How do you manage a joint cash flow with separate assets? In addition to discussing Mark and Mary’s situation, today I chat with Kay about how she and her husband handled finances with their late in life marriage.Kay gives us some insight on how to manage finances in a financially unbalanced relationship. You’ll appreciate her perspective on how to manage the household cash flow when you haven’t always been married.Make sure to stick around to hear an update from Sam, our single Retirement Plan Live case study from 2018. She’ll let us know how she’s been doing, what has surprised her about retirement, and whether her retirement plan has changed. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE [6:40] A comment about this RPL[8:12] How to discuss uncomfortable topics with your partner[13:56] Some examples of how separate assets can work[19:03] Chatting with Kay about her relationship and prenup[25:14] How they managed cash flow after they married[31:40] How they navigated the financial challenges in their marriageCATCHING UP WITH SAM FROM THE 2018 RETIREMENT PLAN LIVE [34:18] What Sam has been up to since we last chatted[38:01] How she has dealt with the ups and downs of the markets[42:26] Does her retirement plan look the same?[44:41] What has surprised her about retirementTODAY’S SMART SPRINT SEGMENT [50:24] Think about how you will manage your cash flow in retirementResources Mentioned In This Episode 2018 Retirement Plan Live with Sam  219,  220,  221,  222,  223Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

We’re back with Retirement Plan Live to explore how two adults who married later in life can share their resources as they age.Last week we looked at their goals both individually and together and today we’ll do the same with their resources. Listen in to hear the different ways that older adults who come together later in life can pool their resources so they can rock retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE [2:55] Let’s look at their resources[8:56] How can they use these resources together and separately[14:22] What to expect next weekBRING IT ON WITH MARK ROSS [15:30] How to have a positive attitude while you age[18:02] Developing a purposeful path to aging[20:03] 3 things to considerTODAY’S SMART SPRINT SEGMENT [22:06] Organize and refresh your financial resourcesResources Mentioned In This Episode BOOK - Who Do You Want to Be When You Grow Old? by Richard Leider and David ShapiroBOOK - The Comfort Crisis by Michael EasterRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Do you like lemonade? If so, you won’t want to miss out on the lemonade I make on today’s episode. We’re discussing goals on this episode of the Retirement Plan Live series and we get to catch up with Lori from the 2017 Retirement Plan Live. Find out what she is up to and how to work through shared and separate goals in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE  [3:42] Mark and Mary’s differences developed into a big conversation[9:00] Mark’s values[10:12] Mary’s values[14:01] Inferring their goals[16:03] When they will retireCATCHING UP WITH LORI FROM THE 2017 RETIREMENT PLAN LIVE [22:48] What Lori and Bruce are up to today[27:18] Has their retirement plan changed?[33:01] Their plans for the future[35:15] Her advice for new retireesTODAY’S SMART SPRINT SEGMENT [38:12] Revisit your goals for retirementResources Mentioned In This Episode RetireAgile.comLiveWithRoger.com2017 Retirement Plan Live with Lori and Bruce  193, 194,  195, 196Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

If you’re married, do you have retirement planning meetings? If you’re single do you plan a time to meet with yourself to plan your retirement? What or whom do you use as a sounding board?In this Retirement Plan Live, we’re getting to know Mark and Mary–two lovely people who have found each other later in life. This mature newlywed couple is trying to iron out the details of their finances. Sit back and enjoy this episode where we meet Mary and learn about her story and the financial challenges she and Mark are facing in their new marriage. As you listen to Mark and Mary’s story maybe you can use it to frame your own retirement planning conversation. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A BIT OF HOUSEKEEPING [1:50] What is the retirement podcast network?[3:43] Books I read in December[7:00] A correction on a recent question[7:45] Some listener wisdom on what Rojo should do to retire at 60[13:43] Sign up for the results webinar!MEET MARY [14:38] What motivated her to volunteer for RPL?[19:03] Advice for anyone navigating the online dating world[20:15] How they ended up together[23:31] Mary’s aspirations for their relationshipBRING IT ON WITH KEVIN LYLES [37:10] The phenomenon of unretirement[43:44] What to do if you are considering unretirement[45:49] A Social Security tip if you do unretireTODAY’S SMART SPRINT SEGMENT [46:28] Have your retirement planning meeting for the yearResources Mentioned In This Episode BOOK - One Flew Over the Cuckoo’s Nest by Ken KeseyBOOK - Name of the Wind by Patrick RothfussBOOK - The Wise Man’s Fear by Patrick RothfussRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Today you’ll meet Mark–half of our newest case study for Retirement Plan Live. Mark and Mary are a year and a half into their new marriage and are trying to figure out how to plan the rest of their lives. On this episode, you’ll learn about Mark and his aspirations and concerns for their life together. In the next episode, you’ll meet Mary, in week three we’ll discuss their goals, the following week we’ll look at their resources, and finally, we’ll see how they manage their cash flow and learn who pays for what. Make sure that you’re signed up for the live webinar on February 1 at 7 pm CST. In this webinar, you’ll get to see how everything panned out for Mark and Mary. To sign up, head on over to LiveWithRoger.com and mark it on your calendar. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN MEETING MARK [3:30] What motivated Mark to volunteer for this case study[9:15] Mark loves spreadsheets[15:26] How they merged their livesBRING IT ON WITH DR. BOBBY DUBOIS [22:54] Should you do a broad spectrum of tests?[24:10] Why you should or shouldn’t do these tests[38:10] Why I did some screenings[46:51] How to do screenings productivelyTODAY’S SMART SPRINT SEGMENT [50:24] Organize the tests you’ve had from your doctorResources Mentioned In This Episode Function HealthBOOK - Outlive by Peter AttiaRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

One of our listeners actually has a better mortgage rate than me! However, as they begin to test their retirement budget they have found that the mortgage payment leaves that budget a bit tight. So they are wondering if they should pay off their mortgage early by withdrawing from their IRA. What would you do?Listen in to hear my response in addition to several other listener questions. We’ll also catch up with Rosie from the last Retirement Plan Live. Press play to learn if she implemented any of the things we discussed and how her retirement has been over the past year. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS [3:30] Should we pay off our mortgage with our IRA?[11:27] An inherited IRA question[17:55] The order of withdrawals in retirement[25:24] The benefits of a continuing care retirement communityCATCHING UP WITH ROSIE FROM THE 2023 RETIREMENT PLAN LIVE [27:34] How Rosie’s confidence level is now[29:00] How she implemented some financial changes this year[43:28] Her intentions for her new plannerTODAY’S SMART SPRINT SEGMENT [51:27] Refresh your vision, your feasible plan of record, and your resilient plan of recordResources Mentioned In This Episode Retirement Plan Live with Rosie -  468,  469,  470,  471Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center