Retirement Answer Man

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Retirement Withdrawal Strategies: The Safety First Approach Jul 14, 2021

Show notes

One of the biggest questions of retirement is how to withdraw your money. You can’t have a successful retirement without first planning how to withdraw your money. That is why we are discussing different retirement withdrawal strategies this month. Last week we covered the infamous 4% rule and today you’ll learn about the safety-first approach. In our next episode, you’ll hear about a hybrid approach and in the last episode of this series, you’ll discover how to build a framework for your own retirement withdrawal strategy. Are you ready to educate yourself on the various ways that you can withdraw your money in retirement? Press play to get started.

What is the safety-first strategy?

In the previous episode, you learned about a safe withdrawal strategy using the 4% rule. Whereas the 4% rule is a portfolio-based strategy, the safety-first strategy takes the opposite approach. Safety first ignores safe withdrawal rates and asset allocation. Instead, it focuses on creating income sources via various guaranteed income vehicles. The idea behind the safety-first approach is that retirement is too important to have variables like sequence of return risk that could ruin your retirement.

How to implement the safety-first approach

Since you only get one shot at retirement, the safety-first method secures a base income by using the assets you have. Prioritization is a key component to safety first. The first thing one must do to utilize the safety-first approach is to calculate your base needs over the span of your lifetime. Once you have this number, then you’ll subtract the income from your social capital so that you can see what’s left. With safety-first, you will secure your base needs by utilizing bond ladders or income annuities. After creating your income floor, then you can focus on building your contingency fund to help with life shocks. Once both of these bases are met then you can focus on any other retirement goals you may have.

What are the advantages to safety-first?

The first advantage that comes to mind with safety-first is peace of mind. By using the safety-first approach you won’t have to worry about the markets because you know that no matter what happens your base needs will be met. Another advantage is that this approach is easy to manage. There is not much to do after you have the plan in place but collect your monthly paycheck which makes this plan ideal for later in life. One more advantage is that since your needs are met you can focus on being more growth-oriented with the rest of your portfolio.

The disadvantages of this approach

The main disadvantage that I see with this approach is the lack of flexibility. If you have listened to the show before, you know that my methodology is all about staying agile. People change their minds a lot and life can completely change after retirement, so tying up your assets in an annuity can take away the power to change your mind. Another downfall to safety first is increased inflation risk. Most annuities do not adjust for inflation, so if there are any spikes in inflation you could be at risk. Listen in to discover if the safety-first approach is the right one for you.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[1:30] What is the safety-first strategy?
[4:35] What are secure assets?
[8:06] When to implement the safety-first strategy
[10:20] Advantages and disadvantages to the safety-first strategy

LISTENER QUESTIONS

[17:55] How should I incorporate an inherited IRA into my retirement plan?
[20:10] Taxes and Roth conversions
[23:45] Does the 4% rule take into account social capital?
[24:54] How do bonds work?
[28:38] A pro-rata question

TODAY’S SMART SPRINT SEGMENT

[30:40] Do a basic calculation to figure how much of your base needs will be covered by guaranteed income sources

THE FEEDBACK BOOTH

[32:43] Women run the finances too
[34:35] My 3rd attempt to discuss financial planning fees

Resources Mentioned In This Episode

Wade Pfau

BOOK - Safety First Retirement Planning by Wade Pfau

Michael Kitces

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Retirement Withdrawal Strategies: The 4% Rule Jul 07, 2021

Show notes

Have you considered what kind of withdrawal strategy you plan to use in retirement? There are more to choose from than you may realize. Over the next 4 episodes, we will focus on different withdrawal strategies and how to choose one that fits your needs.

On this episode of Retirement Answer Man, we’ll cover the most notorious retirement withdrawal strategy: the 4% rule. In week 2 of this series, we’ll discuss the safety-first strategy. In the 3rd episode of the Retirement Withdrawal Strategies series, we’ll learn how to utilize matching liabilities to spending, and finally, in the last week of July, you will learn how to create a framework to help you decide which retirement withdrawal strategy will work best for you.

This episode is packed with information and even includes an interview with Jamie Hopkins, author of Rewirement. Get ready to buckle down and learn what you need to start the decumulation phase of life.

There are 3 big rocks in retirement planning

It can be easy to get sidetracked when planning for retirement. There are so many different areas that you need to consider. You don’t want to focus on the wrong thing, but how are you supposed to know what the right thing is when there is so much information out there. I believe that you need to focus on the 3 rocks of retirement planning.

Feasibility - This means what is possible given your resources. You’ll want to figure out how to squeeze the most life out of the assets that you have to create the best life that you can.
Resiliency - You don’t want to get thrown off course by inflation, bad markets, or life. This is where choosing the best withdrawal strategy comes into play.
Optionality - This covers the tools you can use to enhance the journey - tax planning asset allocation etc

What is the 4% rule?

The 4% rule was created by William Bengen in 1994 in a landmark academic article. Mr. Bengen wanted to know if there was a fixed amount of money that you could pull from your assets safely each year and never run out of money. To investigate, Bengen looked at historical data and ran models to search for a percentage rate that one could withdraw safely over a typical lifetime. He learned that 4% is the amount that you could withdraw from a portfolio to stay ahead of inflation yet never run out of money. Over the years the paper has gained momentum until it eventually became a rule of thumb.

What are the advantages and disadvantages of the 4% rule?

As with any withdrawal strategy or general rule, there will be advantages and disadvantages. One advantage of the 4% rule is that it provides you with a safe withdrawal rate. You can be confident that your portfolio is secure and you won’t run out of money. Another advantage is that this rule is simple.

Simplicity is nice because it is easy to follow, however, everyone is different and what works for everyone may not work for you. The 4% rule may be too simplistic and too unbending. The 4% rule also doesn't account for changing market conditions, inflation, and life surprises. Another disadvantage is that you are likely to die with more money than you would like to. This could lead to regret.

Please leave a review!

If you have been enjoying the show, make sure to leave an honest review on your favorite podcast app. Reviews help to ensure that those who are walking the same path of life can find this podcast easily. If you’d like the resources that go along with this episode and future episodes, make sure to sign up for the 6 Shot Saturday newsletter.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?

[2:40] There are 3 big rocks in retirement planning

INTERVIEW WITH JAMIE HOPKINS

[7:40] Going from accumulation to decumulation can be a challenge
[13:30] How to get in the right mind frame to spend in retirement
[19:53] Set boundaries at work to create balance
[22:45] What can you do to feel better about a decreasing balance sheet

PRACTICAL PLANNING SEGMENT

[29:48] The 4% rule is a safe withdrawal rate
[32:31] Advantages of a safe withdrawal rate

LISTENER QUESTIONS

[38:15] Mountain bike questions
[42:22] Assumed portfolio investment returns
[51:24] Can you do Roth conversions if you plan to retire early?
[54:44] Does home equity help when considering net worth?

TODAY’S SMART SPRINT SEGMENT

[58:37] Watch this domino chain reaction video

Resources Mentioned In This Episode

BOOK - Rewirement by Jamie Hopkins

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Andy Panko, Tenon Financial Group

Listener Questions: How Should I Incorporate an Inherited IRA into my Retirement Plan? Jul 01, 2021

Show notes

Welcome back to the last episode in this Listener Questions series. From time to time I step away from our usual monthly themes and dedicate an entire month to answering your questions. This week I have requested help from friends to answer your burning retirement questions. Press play to learn more about the rule of 55, Social Security, using HSAs before Medicare, and more.

Will I regret not paying off my mortgage?

Mark and his wife are planners. Most of their life has gone according to the plans they made; including their timeline for retirement. However, recently their retirement plans changed. Instead of paying off their house in preparation for retirement, they decided to buy a new home by the beach with a mortgage. After careful assessment, they realized that they have enough money to live comfortably on their pensions with this mortgage payment, but Mark wonders if he will eventually regret the decision to keep the mortgage and not pay off the house.

Have you grappled with the decision of whether to pay off your mortgage or not in retirement? Listen in to hear Chad Smith from the Financial Symmetry podcast answer this question. He may provide some insight that you hadn’t considered.

Should you use a 3-4% increase in Social Security benefits when planning your retirement?

You may have noticed that many financial planning tools default to increasing Social Security benefits 3-4% per year in their projections. While a 3-4% increase is the average cost of living adjustment for the program, it does not increase at the same rate each year. As a matter of fact, There have been many years in recent history when Social Security hasn’t risen at all.

Taylor Schulte from the Stay Wealthy podcast prefers to be more conservative in his predictions. He uses a 1% average increase in projected Social Security benefits when helping his clients create their retirement plans. He has found that it is better to be conservative when making assumptions so that his clients are prepared for extreme, unpredictable situations. In retirement, you don’t want to be caught off guard.

Meaning and purpose in retirement

To have a successful retirement, you must have meaning and purpose in your life. You may agree with this statement, but have you ever defined these terms?

Meaning is an internal concept that is important to you and gives you pleasure. Meaning allows you to use your unique gifts and talents to feel useful. Since meaning is internal, it doesn’t matter whether society thinks something is meaningful, meaning can only be defined by you.

Purpose is an external concept that involves looking outside yourself to make a difference in the world. It doesn’t matter if that difference is earth-shattering or whether it is as simple as bringing joy to your grandkids.

The key to a successful retirement is to find activities that provide both meaning and purpose. Decide which activities are meaningful to you. Look around to see how you can make a difference in your world so that you can attain a sense of fulfillment.

What will you do to find meaning and purpose in your retirement?

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS

[1:30] A rule of 55 question
[4:10] The ramifications of the decision to not pay off the mortgage
[8:38] A Social Security question
[11:27] Using health savings accounts vs. health reimbursement accounts before age 65

COACHES CORNER WITH BW

[14:04] Defining meaning and purpose in retirement

Resources Mentioned In This Episode

Andy Panko’s Taxes in Retirement Facebook group

Chad Smith from Financial Symmetry

Taylor Schulte Stay Wealthy podcast

Tanya Nichols, Align Financial

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Listener Questions: Should I Pay Off the Mortgage or Keep the Cash if I’m About to Retire? Jun 23, 2021

Show notes

Welcome back to the Retirement Answer Man show. This month we have stepped away from our typical monthly themes, and instead, we are tackling your listener questions regarding retirement. Make sure to listen in July as we discuss retirement withdrawal strategies and join Tanya Nichols and me in August to discuss women in retirement.

Check out this episode to hear how you can create your retirement lifestyle framework, how to source your retirement paycheck, and whether it is best to keep the cash or pay down the mortgage.

Finding a retirement lifestyle framework

A big part of beginning your retirement planning is finding a retirement lifestyle framework that you agree with. Many are drawn to the simplicity of the 4% withdrawal rule, but it doesn’t take into account your retirement lifestyle.

One member of the RRC explained that he was looking to maximize his lifestyle given his assets. This is what we are all looking to do, but it’s not as easy as you think. Many people think that you can simply come up with a base number that you can spend each year, but this is based on the assumption that your lifestyle will not change over time.

How to design your retirement lifestyle framework

Without a framework in place, people tend to grab onto any random retirement planning strategy and that will drive all of their retirement decision-making.

Instead of asking yourself, how much do I need? A better way to design your retirement framework is to ask yourself how much do I need for this lifestyle?

To define this you’ll need to ask yourself more questions. Where do you want to live? Define the location where you will be the happiest. What activities do you want to do in retirement?

Asking yourself these questions will help you to create a plan of record. This is a more organized way of considering your life after work. You won’t get it perfect, but it will put you in a much better position to be able to iterate and change your course as needed.

How to source your retirement paycheck

One listener wants to know how to source her retirement paycheck. Traditional retirement planning dictates that you drain your after-tax assets first, then move to Roth, and lastly, tax-deferred assets.

I don’t think this is a very efficient way to source your paycheck. First, determine how much you need from your financial assets over the next 5-10 years. Then, estimate what your required minimum distributions will be. (Check out the 6-Shot Saturday newsletter for a handy RMD calculator. Next, look at your 5-year income estimate. What kind of income will you have each year? You’ll always want to consider multi-year tax planning in retirement.

Keep the cash or pay down the mortgage?

Another listener wonders whether he should keep the $100,000 in cash that he has or should he pay down his mortgage. It is common to think of these decisions by themselves, however, you should build your retirement framework first. This will help you create a feasible plan for retirement. After creating your retirement framework, then you can create a what-if scenario. Creating the process first will allow you to be able to see the question from a big picture perspective. Listen in to hear why you may not want to zap all of your liquidity.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RANDOM THOUGHTS

[2:30] Find a retirement lifestyle framework that you agree with
[8:02] Questions to ask yourself

LISTENER QUESTIONS

[12:33] Sourcing your retirement paycheck
[16:27] Keep the cash or pay down the mortgage?
[21:22] Is 3% average return on investment a good conservative average?

TODAY’S SMART SPRINT SEGMENT

[23:45] Go take a purposeful walk to think about what you want out of life over the next 3-5 years

Resources Mentioned In This Episode

Cal Newport

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Listener Questions: How Do I Account for My Pension on a Net Worth Statement? Jun 16, 2021

Show notes

You’ve got retirement questions; I’ve got answers. This month I’m tackling your listener questions. I’m also taking time to reflect on random thoughts I have about the retirement scene. Join me for this laid-back month with no set theme to learn the answers to questions from listeners like you.

Random thoughts on the retirement scene

Retirement planning is not about optimizing returns. It is about securing outcomes so that you can feel confident that you can live the life you truly want.
You can accomplish anything if you can just get over yourself.
Life happens in the inefficient moments.
Building long-lasting relationships requires making deposits along the way.
“If you don’t change direction you may end up where you are heading.” -- Lao Tzu
There are quality, highly competent, and collaborative financial advisors out there. The industry is changing away from a salesy, male-centric attitude to becoming a true profession.
Life changes, so it is important to stay agile. Make sure to adjust your plan accordingly so that you can adapt.

Should you get more conservative with your portfolio as you enter retirement?

Conventional wisdom dictates that as you approach retirement you should become more conservative with your investments. In investment speak, this means having a bigger portion of your asset allocation in bonds or fixed income than in equities.

However, not every person needs to follow traditional wisdom. Rather than consider your retirement portfolio from an asset allocation standpoint, consider the time frame. In retirement planning, your time frame matters. Think about how to match your assets to your retirement liabilities or yearly expenditures.

You’ll want to be more conservative with the money you need in the short term but you can let your long-term assets run wild. Listen in to hear how a bucket or pie-cake strategy can help you plan your asset allocation in retirement.

How to calculate pension on a net worth statement in retirement

Getting a good overall idea of your financial assets is an important part of the retirement planning process. To help you do so, you’ll want to create a net worth statement so that you can better understand where you stand financially. One recent listener asked where his pension should go on his net worth statement. The answer is nowhere.

Since your net worth statement is a list of your assets and liabilities, a pension would not belong. A pension is neither an asset nor a liability, instead, it can be described as social capital. The 3 sources of income in retirement are social capital, human capital, and financial capital. A net worth statement only takes into account financial capital.

Rather than include your social capital on a net worth statement, you can instead put it on a household balance sheet where it can be classified as the net present value of cash flow. You can download a household balance sheet by clicking on the resources tab at RogerWhitney.com. While you’re there check out the other resources we have available to help you get started on your retirement plan.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RANDOM THOUGHTS

[2:46] Retirement planning is about securing outcomes
[6:22] Have you had a bad experience with a financial advisor?
[9:07] If you don’t change direction you may end up where you are heading

Q&A SEGMENT

[10:26] A withdrawal rates and returns question
[21:20] Should you get more conservative with investments in retirement?
[27:22] How to calculate pension on a net worth statement in retirement

TODAY’S SMART SPRINT SEGMENT

[32:50] Go do something fun!

Resources Mentioned In This Episode

PODCAST - Wild at Heart, Summer Recovery Plan episode

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Listener Questions: How Do Rental Properties Fit into My Retirement Plan? Jun 09, 2021

Show notes

This month on the Retirement Answer Man show, we are tackling your listener questions. Although we don't have a monthly theme like we usually do, I am also sharing my random thoughts from the retirement scene. If you miss the monthly theme, you can look forward to July and August.

In July we’ll be discussing your withdrawal strategy for retirement and August will be a month dedicated to women in retirement. Since I can’t speak to being a woman, Tanya Nichols will join me then to share her wisdom. Make sure to join us for those month-long topics.

If you have been enjoying the show, please head over to your favorite podcast app and leave a review!

Random thoughts on retirement

Real financial planning takes time and isn’t scalable.
Should is a dangerous word. Be careful how you use it.
Generating income to live off of is not a good retirement strategy. Rather than thinking about generating income in retirement, think about total return instead.
In retirement, taxes are all about timing. Limit your taxes by choosing whether to pay them sooner or later.
You can't actually control your emotions, desires, fears. However, you have the choice of whether to nurture them or let them drift by.

What about rental properties in retirement?

Where do rental properties fit into a retirement plan? Rental properties can be fantastic for generating income, but they can also be a lot of work. Of the many people that have rental properties, some choose to continue renting their properties well into retirement. Whether or not you choose to continue as a landlord in retirement should be based on whether you enjoy the work. If you opt to continue having rentals in retirement, they will have their place in your retirement plan just like any other business.

Keep the books in order

Just like any business, rentals have revenues and expenses. Make sure to keep a separate set of books on your rentals to understand their cash flow. Keeping the books in order will help you understand the income they generate and how the rental properties fit into your net worth statement. This practice will help you explore how lucrative the properties are and whether you would like to keep them as a way to generate income in retirement. When you understand where you stand with your rental properties you can be more strategic in building your retirement plan.

Incorporating rental properties into your retirement plan

With the books and net worth statement in order, you can start building your retirement plan. Consider how your retirement plan would look with the rental properties in place and also what it would look like if you sold them.

When creating your retirement plan, you’ll want to consider your social capital, human capital, and financial capital. Since the retirement properties are a business that generates income they are considered human capital.

This type of planning will give you a framework to consider whether to sell the properties or keep them. You should also consider your experience.

Do you enjoy keeping rentals or is it work that you dread? What kind of experience have you had with rental properties? Do you plan on keeping your rental properties in retirement?

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RANDOM THOUGHTS

[2:20] Real financial planning isn’t scalable

LISTENER QUESTIONS

[6:52] What about rental properties in retirement?
[12:39] Is it better to buy slower growth dividend stocks now or in retirement?
[16:05] What to do with RMDs that are more than you need?
[21:05] If you have twice the assets, why pay an advisor twice as much?

TODAY’S SMART SPRINT SEGMENT

[33:30] Estimate what your RMDs will be with our RMD calculator included in the 6-Shot Saturday newsletter

Resources Mentioned In This Episode

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Listener Questions Jun 02, 2021

Show notes

Over the next several episodes I’ll be answering your questions. Rather than having a central topic for the month, I am dedicating each episode to tackling your burning retirement queries. You can head on over to RogerWhitney.com/AskRoger to leave a voicemail or you can send an email. Enjoy hearing my response to questions like where do I start and how do I max out an HSA in the same year that I retire? Press play to discover the answers.

5 tips from the retirement scene

Consistency is key. Do you feel like you jump around from one process to another in your retirement planning? Whether you are changing your financial planning or investment management process, if there is no consistency in your decision making it’s like you have no process at all. It’s one thing to tweak your process a bit to adapt and stay agile, but don’t change the process completely.

Trying to estimate future market returns is a fool’s game. It’s impossible to tell what future returns will bring. There is no reason to try and guess what they might be. Instead of trying to predict the market, focus your time and energy on the things you can control.

Retirement planning shouldn’t revolve around your investments. Instead, your life should be at the center of your retirement planning.

Learn to say no. It’s okay to say that doesn’t work for me. Don’t allow many different things to put demands on your time.

Don’t depend on the 4% rule. People tend to focus on the 4% rule since it estimates a sustainable withdrawal rate, but if you base your retirement planning on this rule you’ll likely end up with way more money than you had expected. Not only that, but you’ll miss out on life experiences in the process.

Where to start?

One listener recently started listening to the show and was wondering where she should start first. It’s hard to say since that all depends on what you’re looking for. One way to begin is to listen to the Retirement Plan Live series. These case studies can help get you thinking about what you should do first in your retirement planning. Do you have any suggestions on where she should begin? Send me an email so I can let everyone know where they should begin listening.

Learn from my cautionary tale

I have shared the tale of the RV that I purchased with my brother-in-law several years ago on past episodes and now I can finally bring that anecdote to a conclusion. I share my experience with you as a cautionary tale of keeping something around simply because I wasn’t in urgent need to sell it. For 7 years I have been paying to store this RV and not once has it been used. Listen to my story to learn how to recognize the changing seasons of life so that you don’t end up spending $6300 to store something you’ll never use again.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RANDOM THOUGHTS

[3:20] Random thoughts on the retirement scene
[9:04] Learn to say no

LISTENER QUESTIONS

[12:34] What do I do first?
[16:10] Steve is excited and scared at the same time
[17:17] HSA plans in the year of retirement

LESSONS LEARNED

[22:20] I just got rid of the RV that I bought 7 years ago
[28:25] Lessons learned from my cautionary tale

TODAY’S SMART SPRINT SEGMENT

[32:37] Identify one thing to clean out this week

Resources Mentioned In This Episode

Episode 259 - How to Live Without a Paycheck

January’s Retirement Plan Live episodes start here

BOOK - Basic Economics by Thomas Sowell

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Your Non-Financial Retirement Plan: Creating Your New Rhythm of Life May 26, 2021

Show notes

Life is like a river that flows and changes over time. There are gradual twists and turns that we make in life and retirement is one of those. To ensure that your retirement flows in the right direction it is important to plan ahead.

In this episode, we explore how to create the direction of the new flow of your life in retirement. You won’t want to miss hearing BW from the Rock Retirement Club as he defines the 6 arenas of life that require our time and energy. Listen in to check it out.

What does it mean to rock retirement?

I am always talking about rocking retirement here and in the Rock Retirement Club, but I haven’t ever defined what that actually means.

On a recent live meet-up with 600 of you, we were able to piece it together and create a working definition of what rocking retirement means. Rocking retirement is a verb--an action word that describes a way of being.

Rocking retirement is a state in which you work towards aligning your resources to create your best-imagined life. Money is important to rocking retirement, but decisions about money and life are always intertwined, so It’s important to create a retirement plan that helps you create a rocking retirement!

What you need to ask yourself to get into the right groove

Your life has created a well-defined groove that you have followed for decades and work has been essential to helping create that groove. Now that your working years are slowing down or coming to an end, it’s time to create a new groove that is different from the old one. Think about the direction you want your new life to take. What will your lifestyle look like? What can you afford? When can you start this new journey? What can you afford to do? Defining the answers to these questions is integral to creating the rhythm of your new life in retirement.

The phases of retirement

There are several stages to retirement and right now you are probably in the planning stage. This is the time when you are trying to get it all figured out. You are trying to envision your retirement journey.

The second step of retirement is the honeymoon phase. This stage is a celebration of your new life. Everything you do in this stage is exciting and you will probably be actively enjoying your life. After the honeymoon phase, many retirees reach stage 3 which is a point of inflection. They start to question their choices. They may atrophy a bit and wonder if life will be like this forever. However, this is when it is time to rock retirement! Listen in to learn how you can really rock this sometimes challenging stage of retirement

Design your life energy

To get intentional about retirement planning you need to consider the 6 life arenas. The first one is labeled career, but this doesn’t have to be a traditional career. It can be whatever gives your life purpose or meaning. Think about what you are trying to accomplish. The next stages are family, relationships, self, spiritual, and leisure. Think about where you are spending your life energy. Is it in line with your priorities? Sit down and think about the direction of your life. Listen to this chat with the RRC head retirement coach, BW to learn how you can get your retirement moving in the right direction.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?

[5:03] What is rocking retirement?

PRACTICAL PLANNING SEGMENT

[6:55] The steps to creating your new journey in life

COACHES CORNER WITH BW

[11:35] The 6 life arenas
[18:35] Think about how you are spending your life energy

Q&A SEGMENT

[21:22] A question on the Rule of 55
[24:25] How dividend aristocrats can be integrated into your retirement plan
[30:10] Share your retirement wisdom

TODAY’S SMART SPRINT

[31:31] Pick one area of your non-financial life to improve

Resources Mentioned In This Episode

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney