Retirement Answer Man

Latest Episodes:

The Rules for Roth Contributions Jul 12, 2023

Show notes

So many economic predictions for the year have proved incorrect. Since even the brightest economists don’t have a crystal ball, planning your retirement based on economic, market, or investment predictions can lead you astray.

Instead of basing your retirement plan on wishful thinking, learn how to create a strategic retirement plan based on agency.

Today, and during this entire Roth IRA series, we’ll see how you can use Roths to enhance your retirement plan. Listen to this episode to hear whether you should be making Roth contributions to help fund your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[5:48] How to make Roth IRA contributions
[8:04] How backdoor Roth contributions work
[13:47] The difference in the Roth 401K

LISTENER QUESTIONS

[19:45] Envisioning family legacy options
[28:08] Spousal Social Security benefits
[31:26] Optimizing taxes and estate planning

BRING IT ON WITH KEVIN LYLES

[39:20] On designing a phased retirement
[45:02] Make sure your phased retirement isn’t an excuse to not retire

TODAY’S SMART SPRINT SEGMENT

[47:30] Examine whether you should be making Roth contributions

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 Roth Opportunity Jul 05, 2023

Show notes

If you’ve been wondering how Roth IRAs work in retirement you’ve come to the right place. All this month we’ll be exploring Roth IRAs–how they work, the 5-year rule, and the differences between Roth conversions and contributions and Roth IRAs and Roth 401Ks.

My goal with this series is to level the playing field so that you can understand the opportunities that Roths provide. On this episode, you’ll learn how you can use a Roth to enhance your retirement. If you are ready to start optimizing your retirement press play. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN BOOKS I READ LAST MONTH

[2:10] What I’ve been reading and how I read

PRACTICAL PLANNING SEGMENT

[12:35] Roth accounts in retirement
[16:16] What Roths are
[20:56] Roth planning opportunities

LISTENER QUESTIONS

[32:45] A tip for using the detailed calculator on SSA.gov
[33:52] How to search for a financial advisor
[37:17] On consolidating your IRAs
[42:26] Can Kelly roll over her 401K to a Roth IRA or is there a better option?

BRING IT ON WITH DR. BOBBY DUBOIS

[50:12] How to implement the tools Dr. Dubois gives us
[52:32] Assessing your energy levels
[59:22] How to start improving your energy
[1:04:39] How to improve the mind-body connection
[1:12:46] How to experiment on yourself

TODAY’S SMART SPRINT SEGMENT

[1:14:10] Update your net worth statement and your cash flow statement so you can plan the rest of the year

Resources Mentioned In This Episode
Episode 487 - The 8 Pillars Of Rocking Retirement: Financial - Resilience And Optimization
The Detailed calculator on SSA.gov not My SSA.gov
Catching Up to FI Podcast
BOOK - Call Sign Chaos by Jim Mattis
BOOK - Fooled by Randomness by Nassim Nicholas Taleb
BOOK - The Alter Ego Effect by Todd Herman
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 Can I Reverse Taking Social Security? Jun 28, 2023

Show notes

There are so many questions that come with retirement which is why I focus on answering questions from listeners like you. As you listen to these questions and their answers consider how they fit into your ultimate objective. Listen in to learn why intent matters.

In this episode, we’ll explore how to frame retirement questions around your intent, answer listener questions, and in the Bring It On segment you’ll hear a tip about how to rebalance your emotions during stressful conversations. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS

[4:12] How to use your 5-year cushion
[11:32] Does having a civil judgment against me apply to my accounts in other states?
[15:55] Bret wants to know more about how to maximize his accumulation stage
[19:35] How to reverse a decision to claim Social Security
[22:05] Examples of simplifying a portfolio by using ETFs or other all-in-one funds
[26:38] How to diversify an overfunded portfolio
[32:59] Should I stop the automatic reinvestment of dividends?

BRING IT ON

[36:00] A tip to rebalance your emotions in stressful situations

TODAY’S SMART SPRINT SEGMENT

[37:50] Reexamine your intent when making decisions

Resources Mentioned In This Episode
Brian Cain
BOOK - Call Sign Chaos by Jim Mattis
Jeremy Siegel
BOOK - Stocks for the Long Run by Jeremy Siegel
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

The KISS Concept for Investing Jun 21, 2023

Show notes

This podcast was created for you–not me. I’m here to help you think differently about retirement and find a concept or tool that will help you take action to rock retirement.

I do this by answering your questions and bringing you content that will open your mind and spur you to get started. If you have a question you would like me to answer, head on over to RogerWhitney.com/AskRoger to leave an audio or written question.

Investing in retirement shouldn’t be that complex. The simpler you can keep it the less confusion you’ll have. One listener wonders how she can keep her investments simple in retirement. Find out how to take the complexity out of investing in retirement by listening to this episode.

Afterward, you can take action by considering how to simplify your own investments and make them retirement ready. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[1:20] What other listeners say

LISTENER QUESTIONS

[5:42] What is the difference between a financial advisor and a wealth planner?
[12:48] The KISS concept for investing
[19:35] On using direct debt lending organizations
[25:00] The difference between bank CDs and brokered CDs
[30:18] How to make your retirement plan resilient

BRING IT ON

[39:21] On starting your own business in retirement
[45:55] Steps to take to get started

TODAY’S SMART SPRINT SEGMENT

[47:37] Take action on something

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

How Listener Mike is Finding His Purpose in Retirement Jun 14, 2023

Show notes

The oldest person is 120 years old, but they probably didn’t have a plan to live that long. Many people don’t have a plan for the decades between 60 and 120. Do you?

In this episode of the Retirement Answer Man show, you’ll hear from the CEO of a venture capital firm that funds companies that help people age well, you’ll also hear the answers to several listener questions–including one correction from an incorrect answer last week, and lastly, you’ll hear about developing a learning mindset from Mark Ross in the Bring It On segment.

Can you guess which question I answered incorrectly last week? Listen in to find out and to hear it answered correctly. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN AN INTERVIEW WITH ABBY MILLER LEVY

[2:30] What it was like to start a firm in the midst of the pandemic
[6:35] Examples of their investments
[13:24] How to plan for decades 6-12
[21:52] Integrating AI in a human way

LISTENER QUESTIONS

[25:36] I missed last week’s question - so here’s take two
[32:47] How Mike is finding purpose in retirement
[33:56] On self-funding long-term care by earmarking accounts

BRING IT ON WITH MARK ROSS

[40:06] On adopting a learning mindset in retirement
[41:18] What you can do today to develop a learning mindset

TODAY’S SMART SPRINT SEGMENT

[49:15] Stress test your plan against a long-term care event

Resources Mentioned In This Episode
BOOK - This Chair Rocks by Ashton Applewhite
Primetime Partners
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

How Does the 5-Year Rule Work for Roth Conversions? Jun 06, 2023

Show notes

“If you are looking for someone to believe in, believe in yourself. The only authentic authority is your own original nature.” Vernon Howard

Are you ready to start believing in yourself enough to rock retirement? If you have been following this show, hopefully, you are doing the work so that you can build the confidence to lean in and really rock retirement.

On this episode, we have a guest that may help guide and empower you to do the work that you need to do to rock retirement. You’ll also hear about what I've been reading, Answers to listener questions, and how to use your toolkit to fit disease from Bobby Dubois in our Bring It On segment. Press play to feel empowered OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I’M READING

[1:38] What I’ve been reading lately

PRACTICAL PLANNING SEGMENT WITH VERONICA McCAIN

[9:12] Who is Veronica McCain?
[15:07] What people are lacking in retirement
[21:44] Why she wrote a workbook

LISTENER QUESTIONS

[25:07] How does the 5-year rule work for Roth conversions?
[29:43] Michael’s book suggestion
[31:40] Focusing on the no-go years
[36:27] A story on your legacy

BRING IT ON WITH DR. BOBBY DUBOIS

[39:25] Our tool kit can help fight heart disease
[43:10] Understanding the risk factors of heart disease
[57:33] How sleep affects heart disease
[59:40] Mind-body work can also improve your risks

TODAY’S SMART SPRINT SEGMENT

[1:05:57] Pull one thing a day to declutter

Resources Mentioned In This Episode
SavvyRetirementCoach.com
BOOK - My Retirement My Way by Veronica McCain
BOOK - Total Recall by Arnold Schwarzenegger
BOOK - Limitless Mind by Jo Boaler
BOOK - The Alter Ego Effect by Todd Herman
BOOK - The 12 Week Year by Brian Moran
BOOK - You Learn by Living by Eleanor Roosevelt
BOOK - Metabolical by Robert Lustig
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

The 8 Pillars of Rocking Retirement: Non-Financial - Passion and Relationships Jun 01, 2023

Show notes

It’s time to wrap up the eight retirement pillars with the final two non-financial pillars: passion and relationships.

In this episode, you’ll learn why happy people always have projects and what you can do to get started building your own passion projects. You’ll also learn why it is so important to develop intentional relationships. Discover these final two non-financial pillars for a rocking retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[3:15] Projects with purpose
[5:43] Obstacles to creating passion projects
[8:50] How to build a plan to develop your own passion
[10:32] Relationships are an integral part of rocking retirement

LISTENER QUESTIONS

[17:50] A spousal IRA question
[19:17] Rolling over a 401K to an IRA
[28:44] A note on my wording
[29:28] Feedback from people on going two to one

TODAY’S SMART SPRINT SEGMENT

[36:27] Go out and take action on something that interests you

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 8 Pillars of Rocking Retirement: Non-Financial - Energy and Mindset May 24, 2023

Show notes

Rocking retirement requires focusing on both the financial and non-financial aspects of retirement. In the previous two episodes we explored the four financial areas that help build a rocking retirement, and today, we begin to examine the non-financial areas starting with energy and mindset.

After listening you’ll understand why rocking the non-financial part of retirement starts with building your energy. Learn how to improve your energy and mindset by listening to this episode of Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[1:30] Energy is the first pillar
4:17] Create a plan to improve your energy
[7:10] Develop a growth mindset
[12:46] An example

LISTENER QUESTIONS

[15:38] Do you have to be actively earning income to contribute to a Roth?
[18:53] How doing their own taxes saved them thousands of dollars (and not only in tax preparer fees)
[22:55] Will my spouse receive the COLA as well?
[25:28] Are CDs a good way to invest?

BRING IT ON WITH MARK ROSS

[29:51] Foster an abundance mindset
[35:34] Tools to use to practice an abundance mindset

TODAY’S SMART SPRINT SEGMENT

[37:24] Be aware of the stories that you tell yourself and how they affect your mindset

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

The 8 Pillars of Rocking Retirement: Financial - Resilience and Optimization May 17, 2023

Show notes

Rocking retirement requires getting your financial and nonfinancial ducks in a row. As we work through the 8 pillars of rocking retirement this month, we’ll explore both the financial and non-financial elements of retirement. This week, we’re reviewing the resilience and optimization stages of the financial side of retirement.

If you didn’t listen to the previous episode, make sure to go back and do so first to about the first two financial pillars. In this episode, we’ll be reviewing the next two: resilience and optimization. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?

[1:40] What is the debt ceiling?
[5:43] What will happen with the debt ceiling?

PRACTICAL PLANNING SEGMENT

[7:55] Make your feasible plan resilient
[14:10] Build a funding strategy
[18:07] Now it’s time for optimization

LISTENER QUESTIONS

[22:45] Estimating Social Security using the detailed calculator
[25:02] The pros and cons of investing in REITs and private funds
[31:45] Choosing a retirement planner vs. a CFP
[36:16] Should Tammy sell one of her rental properties

BRING IT ON

[41:28] What micro roles can you play in various relationships?

TODAY’S SMART SPRINT SEGMENT

[47:20] Assess the resilience of your retirement plan

Resources Mentioned In This Episode
SSA.gov detailed calculator
Episode 486 - The 8 Pillars Of Rocking Retirement: Financial - Vision And Feasibility
Retirement Plan Live episodes with Rosie - 468, 469, 470, 471
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

The 8 Pillars of Rocking Retirement: Financial - Vision and Feasibility May 10, 2023

Show notes

If you don't know where you are going any path will get you there. This is why it is so important to have a vision of where you want to go–you don’t want to end up anywhere!

This series is dedicated to teaching you the 8 pillars to rock retirement. In this episode, we focus on creating a vision so that you can create a feasible pathway to get you to your vision.

Listen in so that you aren’t wandering aimlessly through your retirement. Press play to learn how to visualize your goal and create a way to get there. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[2:52] What do you want?
[6:32] What are your objectives?
[8:14] What are the obstacles?
[12:39] How to make your plan feasible

LISTENER QUESTIONS