Retirement Answer Man

Latest Episodes:

Lessons from Mike and Judy’s Investment Experience Jun 26, 2024

Show notes

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 area

TODAY’S SMART SPRINT SEGMENT

[37:04] Review the RISA pdf to learn more about your risk tolerance

Resources Mentioned In This Episode
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Legal Tender: Tallying Their Resources Jun 19, 2024

Show notes

#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 assets

LISTENER 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 costs

TODAY’S SMART SPRINT SEGMENT

[57:02] Use the worksheet from Six Shot Saturday to organize your resources

Resources Mentioned In This Episode
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

The Lifestyle We Want in Retirement Jun 12, 2024

Show notes

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 wants

ROCK LIFE WITH KEVIN LYLES

[30:33] 4 pillars for a balanced retirement

TODAY’S SMART SPRINT SEGMENT

[41:35] Think about your ideal retirement

MY 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 learned

Resources Mentioned In This Episode
WDW podcast
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

The Educator and the Esquire - Meet Mike and Judy Jun 05, 2024

Show notes

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 objective

ROCK 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 protection

TODAY’S SMART SPRINT SEGMENT

[47:49] Complete the values worksheet from 6-Shot Saturday

Resources Mentioned In This Episode
Live Long and Well with Dr. Bobby
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

How Can I Get an IRMAA Exception? May 29, 2024

Show notes

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 are

IN THE NEWS

[14:55] Structured protection ETF
[25:06] What the details show

LISTENER 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 curriculum

ROCK LIFE

[37:51] Cultivating a growth mindset through curiosity
[40:58] How to cultivate curiosity

TODAY’S SMART SPRINT SEGMENT

[50:55] Practice asking a dumb question

Resources Mentioned In This Episode
International Foundation for Retirement Education
Form SSA-44
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

I’m Afraid to Buy Stocks in Retirement! What Should I Do? May 22, 2024

Show notes

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 retirement

IN 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 planner

TODAY’S SMART SPRINT SEGMENT

[37:35] Rethink your password protection

Resources Mentioned In This Episode
1Password
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Should I Get a Mortgage for My Retirement Home? May 15, 2024

Show notes

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 retirement

ROCK LIFE

[33:41] On cultivating a growth mindset

TODAY’S SMART SPRINT SEGMENT

[35:00] Take your thought and do it in the moment

Resources Mentioned In This Episode
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Stop Doing These Things in Retirement May 08, 2024

Show notes

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 is

LISTENER 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 IRAs

ROCK 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 helpful

TODAY’S SMART SPRINT SEGMENT

[1:00:34] Find an opportunity to move

Resources Mentioned In This Episode
YouTube video - What You Should Know if You Inherited an IRA
Episode 532 - How To Manage Your Scarcity Brain With Michael Easter
Episode 530 - What Is True Retirement Planning? With Christine Benz
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

My Experience Moving to a Retirement Community May 01, 2024

Show notes

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 retirement

LISTENER 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 podcast

TODAY’S SMART SPRINT SEGMENT

[40:06] Think about where you are going to live in retirement

Resources Mentioned In This Episode
YouTube video - What You Should Know if You Inherited an IRA After January 1st, 2020
I Bonds
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Can I Do a Reverse Dollar-Cost Averaging for Withdrawals in Retirement? Apr 24, 2024

Show notes

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