Retirement Answer Man

Latest Episodes:

How Do I Refill My Retirement Income Floor? Nov 29, 2023

Show notes

Have you been wondering what you’re supposed to do when it comes to refilling your retirement income buckets? So has Michael. In this episode, I’ll go into further detail about how to do that.

Stay tuned for the answer to Michael’s question and many others as well as a chat with Kevin Lyles on how to ease into retirement in the Bring It On segment. Press play to get started. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS

[4:38] How to reinvest retirement income floor
[15:21] Contribute to grandchild’s Roth accounts to teach compounding
[16:58] How is a non-deductible IRA contribution withdrawal handled?
[19:51] The pros and cons of Everplans
[24:26] On organizing books

BRING IT ON

[25:45] How to ease into retirement

TODAY’S SMART SPRINT SEGMENT

[33:45] Check your liquidity

Resources Mentioned In This Episode
BOOK - The Road to Character by David Brooks
BOOK - The Second Mountain by David Brooks
Everplans.com
Episode 473 - How Is Deferred Compensation Taxed When I Receive It?
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

My Retirement Planner Said No to a Report Request. What Should I Do? Nov 22, 2023

Show notes

What would you do if your retirement planner said no when you asked them for a report? I’ll address this question and many more on this episode of the Retirement Answer Man Show.

We’ll also discuss the two things you need to find happiness. Are you curious as to what they are? Listen in to find out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS

[2:13] Adding to my partial answer to a question in episode 512
[5:33] What to do when my advisor told me no to a report
[11:05] On switching plans in Medicare’s open enrollment
[14:41] What training someone should pursue to improve their financial education
[18:10] The issues that come with trying to die with zero
[21:03] Rules when you return to work
[23:22] On securing long-term care insurance
[25:51] Are the rules different for 457B accounts?

BRING IT ON

[29:57] Building protocols to improve your agency

TODAY’S SMART SPRINT SEGMENT

[34:00] Write 5 things you are grateful for and 5 things you can do to build agency

Resources Mentioned In This Episode
Huberman Lab Podcast
LTCI Partners
Episode #281 - Is An Annuity Right For Retirement? The Role An Annuity Can Play In Your Portfolio
BOOK - Die with Zero by Bill Perkins
Episode #345 - How Does Medicare Work? Making Your Medicare Decision with Danielle Roberts
Boomer Benefits
Episode 512 - How Should I Pay Taxes On My Roth Conversions?
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Should I Consolidate My Accounts in Retirement? Nov 15, 2023

Show notes

If you have different retirement accounts at various brokerage firms, you may wonder whether you should consolidate them. One listener asked me that very question today. I’ll answer it along with several others–don’t miss the one about my finance book recommendations.

Are you curious about how you can improve your relationship in retirement? Then, make sure to listen to Mark Ross’s suggestions in the Bring It On segment. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS

[5:51] Should Greg and his wife consolidate their accounts?
[11:39] Using the Obsidian note-taking app
[13:42] Larry’s question on RMDs and down markets
[16:34] My recommendation on reading material for Sandy on money management
[19:41] What is a LIRP?

BRING IT ON WITH MARK ROSS

[22:12] The relationship pillar requires communication
[25:16] Have a retirement plan of record

TODAY’S SMART SPRINT SEGMENT

[30:07] Review these end-of-year housekeeping tips

Resources Mentioned In This Episode
BOOK - The Behavioral Investor by Daniel Crosby
BOOK - 48 Days to the Work You Love by Dan Miller
BOOK - Don’t Retire, Rewire by Jeri Sedlar
BOOK - Younger Next Year by Chris Crowley
BOOK - Stacked by Joe Saul-Sehy
BOOK - A Simple Plan to Wealth by J.L. Collins
BOOK - Winning the Loser’s Game by Charles Ellis
BOOk - The Retirement Income Guidebook by Wade Pfau
The Retirement Answer Man GoodReads group
Notion
Obsidian note-taking app
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

How Should I Pay Taxes on My Roth Conversions? Nov 08, 2023

Show notes

“You do not rise to the level of your goals; you fall to the level of your systems.” James Clear

I’ve been focusing on building up my systems lately and today I’ll provide you with an example of what that looks like for me.

In addition, in this episode, you’ll hear several questions on how to optimize your tax burden. Then in the Bring It On segment, Kevin Lyles joins me to discuss the role of leisure in retirement.

Join me today to take a baby step to improve your life in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[2:19] Building systems

LISTENER QUESTIONS

[6:31] How to pay taxes for Roth Conversions
[14:44] On new rules for catch-up contributions
[17:07] Can Larry contribute to his wife’s HSA?
[19:26] The details on the taxes on selling a house

BRING IT ON

[22:46] The role of leisure in retirement
[25:06] The 6 categories of leisure

TODAY’S SMART SPRINT SEGMENT

[31:16] Look at your after-tax accounts and tally your realized capital gains

Resources Mentioned In This Episode
BOOK - Atomic Habits by James Clear
Sign up for the 6-Shot Saturday newsletter!
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Should I Continue to Own Bond Funds? Nov 01, 2023

Show notes

Bonds are a ubiquitous part of a balanced portfolio and in recent years bond funds have become even more attractive to many investors. However, due to rising interest rates, bond funds are now losing their appeal.

One listener asks whether she should call it quits on her investment in bond funds. In this episode of Retirement Answer Man, Nichole and I will explore this and other questions from listeners like you.

Stick around to hear my conversation with Dr. Bobby Dubois about energy and our relationship with caffeine. Find out once and for all whether caffeine is as bad for you as they say. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I READ IN OCTOBER

[1:30] Books I read in October

LISTENER QUESTIONS

[5:01] Will it be a long way to get back to even on bond funds?
[10:03] About the recommended withdrawal rate in retirement
[12:12] How to figure out the net worth of a pension
[14:41] A question about transferring IRA funds to HSA
[16:23] Feedback on wisdom for our children
[17:14] How far back should a newer listener go in the podcasts?
[21:09] A comment on my YouTube video with Joe Saul-Sehy

BRING IT ON WITH DR. BOBBY DUBOIS

[22:20] 85% of people have caffeinated beverages each day
[28:22] How much caffeine should you have each day
[30:12] What happens to your brain on caffeine
[39:37] What to do with this information

TODAY’S SMART SPRINT SEGMENT

[44:18] Join the Retirement Answer Man Goodreads group!

Resources Mentioned In This Episode
Join the Retirement Answer Man group on Goodreads
BOOK - The Count of Monte Cristo by Alexandre Dumas
BOOK - The Armor of Light by Ken Follett
BOOK - Stillness is the Key by Ryan Holiday
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Wisdom for Our Children - Spending, Saving, and Investing Oct 25, 2023

Show notes

We often try to overcomplicate finances, but simplicity is the key. That’s not to say simplistic: simple doesn’t equal simplistic.

On this episode, we wrap up our Wisdom for Our Children series by exploring your advice for spending, saving, and investing. We have tons of valuable guidance for the young people in our lives. Be sure to listen to hear all the suggestions. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WISDOM FOR OUR CHILDREN

[3:38] Learn to invest in yourself
[9:02] How to create wealth
[12:52] Some audio advice

AN INTERVIEW WITH MARK TRAUTMAN

[21:24] Understanding compound interest
[31:10] The best place for a young person to save
[40:29] How to invest your long-term investments

TODAY’S SMART SPRINT SEGMENT

[48:44] Get a book for a young person in your life

Resources Mentioned In This Episode
BOOK - The Daily Stoic by Ryan Holiday
BOOK - Areté by Brian Johnson
BOOK - The Simple Path to Wealth by JL Collins
BOOK - Stacked by Joel Saul Sehy
BOOK - Profit First by Mike Michalowicz
BOOK - The Scarcity Brain by Michael Easter
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Wisdom for Our Children - Family and Friends Oct 18, 2023

Show notes

Your family and friends are the people you walk life with, so it is important to choose wisely. In this episode of our Wisdom for Our Children series, Nichole joins me to reflect on what the younger generation should keep in mind when forming these valuable relationships.

Press play to hear what it takes to build meaningful relationships. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[3:17] What you do speaks so loudly I cannot hear what you have to say
[8:15] How to love someone
[16:55] Have high standards
[18:52] Create boundaries with family
[20:30] Comments from listeners

TODAY’S SMART SPRINT SEGMENT

[26:58] Check in on someone

Resources Mentioned In This Episode
BOOK - The 5 Love Languages by Gary Chapman
BOOK Series - The Crucial series by Kerry Patterson and Joseph Grenny
BOOK - Boundaries by Henry Cloud
BOOK - Necessary Endings by Dr. Henry Cloud
BOOK - Love Does by Bob Goff
BOOK - The Power of Moments by Chip and Dan Heath
BOOK - The 4 Agreements by Miguel Ruiz
BOOK - The Courage to Be Disliked by Ichiro Kishimi
BOOK - QBQ by John Miller
BOOK - 4000 Weeks by Oliver Burkeman
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Wisdom for Our Children - Career and Retirement Oct 11, 2023

Show notes

This month, as we meander through the different parts of life we are stopping to reflect on certain areas to pass on wisdom to our children. In this episode of the Retirement Answer Man Nichole Mills joins me to discuss career and retirement.

Do you have a young person in your life who you would like to pass on some juicy nuggets of wisdom? If so, make sure you are signed up for the 6-Shot Saturday newsletter. At the end of this series, we’ll be sending out a carefully cultivated PDF full of sagacity that you can pass on. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS

[3:27] Can you transfer appreciated assets in kind to a charitable giving trust?
[9:45] How CDs work and when to use them
[13:43] How to manage finances when marrying late in life
[18:23] When are HSAs not worth the triple tax advantage?

WISDOM FOR OUR CHILDREN WITH NICHOLE MILLS

[27:19] Think in 5-year increments
[29:26] Build career capital
[32:00] Cultivate an authentic network
[35:27] Wisdom on retirement
[39:43] Play by your own rules
[40:21] Advice from our listeners

TODAY’S SMART SPRINT SEGMENT

[48:10] Cultivate your artistic nature

Resources Mentioned In This Episode
BOOK - Designing Your Life by Bill Burnett and Dave Evans
BOOK - Linchpin by Seth Godin
Cal Newport
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Wisdom for Our Children - Energy and Mindset Oct 05, 2023

Show notes

It is commonly said that youth is wasted on the young. Do you ever wish you could share the wisdom and perspective you have gained with someone young enough to benefit from it?

As we approach our sunset years, many of us have a spiritual desire to give back to the next generation. There is an abundance of wisdom within this community which is why over the course of the next several episodes we will collect that wisdom to pass on to our children.

Each episode will be designed around a separate area of life. This week we’ll focus on energy and mindset because without energy nothing else can fall into place. Come back next week to hear about career and retirement.

Make sure to share this one with your favorite young people. There is a wealth of resources mentioned in this episode, so make sure to scroll down to the bottom of this page for all the links. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOKS I READ LAST MONTH

[2:30] The two books I read in September

WHAT WE WISH OUR YOUNGER SELVES WOULD HAVE KNOWN

[9:20] What we wish we would have known
[14:43] Resources surrounding energy and mindset
[16:23] Who Brian is
[20:29] What does arete mean?
[24:49] What Brian was like at 23
[27:44] Advice Brian has for his younger self
[41:54] How to gamify self-improvement

LISTENER QUESTIONS

[53:54] Clarifying my answer to a previous question on HSAs
[55:47] Elaborating on not retiring
[58:49] Susan’s comment on my interview with the Friends Talk Money podcast
[1:01:18] How to look for a retirement planner

TODAY’S SMART SPRINT SEGMENT

[1:08:48] What is one thing in each of the energy and mindset domains that you could stop doing to build a better life?

Resources Mentioned In This Episode
Join me October 26 or 28 to discuss The 4 Financial Pillars of a Great Retirement Plan
Garrett Planning Network
NAPFA
Friends Talk Money podcast
Episode 499 - Should I Do A Roth Conversion?
BOOK - Deep Work by Cal Newport
BOOK - Tiny Habits by BJ Fogg
BOOK - The Power of Agency by Paul Napper
BOOK - The Tools by Phil Stutz and Barry Michels
Heroic App
BOOK - Bright Line Eating by Susan Pierce Thompson
BOOK - The Comfort Crisis by Michael Easter
BOOK - Why We Sleep by Matthew Walker
BOOK - Outlive by Peter Attia
BOOK - 4000 Weeks by Oliver Burkeman
BOOK - Undaunted Courage by Stephen Ambrose
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Should I Stop Contributing to My Pre-Tax Accounts? Sep 27, 2023

Show notes

What is the difference between a passion and an interest? Why is it important to have a passion in retirement? In the Bring It On segment with Mark Ross, we’re discussing passions. You’ve probably heard that it is important to have a purpose in retirement, but today you’ll learn how to develop your interests and turn them into passions.

You’ll also hear questions about when to stop contributing to pre-tax retirement accounts, what preferred stocks are, and whether QLACS can be used as QCDs. Press play to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS

[3:30] Future pre-tax contributions
[13:48] What is the objective of having preferred stocks in a portfolio
[17:03] Can a QLACS distribution be treated as a qualified charitable distribution?
[18:54] Where should these 34-year-olds save?

BRING IT ON WITH MARK ROSS

[21:28] Are passions the same as interests?

TODAY’S SMART SPRINT SEGMENT

[27:00] Update your net worth statement

Resources Mentioned In This Episode
LiveWithRoger.com
BOOK - 4000 Weeks by Oliver Burkeman
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

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