Retirement Answer Man

Latest Episodes:

Setting Your Retirement Assumptions: 5 Rules to Follow May 27, 2020

Show notes

It’s easy to say don’t live your life based on assumptions. But how can we do that in retirement when assumptions are our way of managing uncertainties? Assumptions are basically just guesses at things we don’t know. And we need to make some assumptions to create a retirement plan. So today we’ll finish off the setting your retirement assumptions series by exploring 5 rules for setting and managing retirement assumptions. Join me to learn how you can make good assumptions so that you can rock retirement. 5 Rules for making and managing assumptions

Recognize the assumptions you need to make. Even if you don’t like to make assumptions, you still have to make some to effectively plan your retirement. It’s important to recognize the assumptions that are important to retirement planning. There are obvious ones like inflation, rate of return, and longevity. But some may not be as obvious. Spending rhythms are difficult to understand in retirement and challenging to predict. You also may not understand how to live a life without the boundaries that have constrained you for your whole life.
Investigate the data surrounding your assumptions. Don’t just assume blindly. Do your research. It’s good to start with historical data, but you can also think about more personal factors. One example is with longevity. You should consider your personal health and family history when estimating your own longevity.
Beware of making extreme assumptions. This one can be challenging in the times of COVID-19. We tend to start believing in extremes when faced with extreme situations.
Determine which assumptions have the biggest impact on your life. Next identify which ones you can control. Where those two meet is precisely where you want to focus your time and energy.
Don’t trust your assumptions. Although we need our assumptions to help plan for retirement, we can’t trust them fully. This is where being agile comes into play. When you are agile you can find the blips on your dashboard and then readjust your model accordingly. Agile retirement planning can help you keep your model up to date and relevant as life changes.

Why is identity such a big issue for retirees?
When you retire you lose your work identity and your identity as a wage earner. It can be easy to become lost. But instead of lamenting the loss of what was you can instead take this opportunity to create a new identity that you choose. You can create this identity based on who you really are. So give it some thought, who do you want to be in retirement?
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT

[3:00] 5 Rules for making and managing assumptions

COACHES CORNER

[16:10] Why is identity such a big issue for retirees?

TODAY’S SMART SPRINT SEGMENT

[28:00] Go through these rules think about how you will manage your retirement assumptions

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

Setting Your Retirement Assumptions: Markets May 20, 2020

Show notes

Once again we are tackling your retirement assumptions on Retirement Answer Man. This week we’ll discuss market assumptions. You are modeling 30 years out, so the market assumptions that you make can easily overestimate or underestimate the amount of money you will need. What kind of market assumptions have you been making with your models? What are capital market assumptions?

Capital market assumptions are the assumptions that investment managers or asset allocation software use to design your pie chart. It will include what the expected returns are for the asset class. The factors include what the return assumption is, what the standard deviation is, and how each ingredient reacts with each other. We can refer to these factors as return - volatility - correlation. We try to manipulate these assumptions and put our own views on top of them. It is important to note that these are the components of your pie chart asset allocation forecast. It’s different this time…

We always think that this time is different. Each major crisis has been unique. The Great Recession of 2008 hit us all hard and changed paradigms. During The New Economy of the 90s, many threw caution to the wind because they just knew that returns were always going to be 20%. But this time is different, right? This pandemic, it’s personal. The safety of our families is at stake. You can’t leave your house. But this time just like all the rest one thing stays the same. It is difficult just to try and be reasonable. What kind of historical market assumptions do you use to plan your retirement?

Many people like to use the 10% number to plan their retirement model. But why do they choose 10%? Is it a nice round number? The last 5 years’ stock market returns were 7.7%. During the past 10 years, they were 15%. Over 50 years that number drops to 8.4%. And over 94 years it averages 10%. We often use these historical numbers in our models, but these numbers don’t factor in the lumpiness. These numbers vary wildly from year to year which is why linear models fall apart over time. Find the answers to your retirement questions

In our Q&A segment, you’ll hear the answers to questions like, should you consolidate all of your assets in one place? How should you rollover your pretax and post-tax dollars? How hard is it to get a mortgage in retirement (even if you have a pension)? Should you use withdrawal strategies in retirement? Listen in to the end to hear all of these questions answered on this episode of Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?

[1:02] Capital market assumptions

PRACTICAL PLANNING SEGMENT

[2:50] It’s different this time…
[7:05] What are your assumptions that the stock market will do going forward?
[10:32] It is easy to overestimate the viability of your plan

Q&A SEGMENT

[19:15] Should you consolidate all of your assets in one place?
[23:30] Is qualifying for a mortgage in retirement challenging with a pension?
[29:16] Should you use withdrawal strategies in retirement?

TODAY’S SMART SPRINT SEGMENT

[31:20] Reexamine your market and inflation assumptions

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

Setting Your Retirement Assumptions: Costs May 13, 2020

Show notes

One of the biggest assumptions you can make in retirement is in your spending. Spending is one of the greatest financial pieces of retirement planning. On this episode, we’re talking about spending. How do you track your spending? How do you know how much you will spend in retirement? Will your spending change after you retire? Listen in to hear how to break free from your retirement assumptions so that you can not just survive retirement but rock retirement. Americans want to keep working remotely

American views are changing amid this Corona disruption. According to a recent study done by IBM, 54% of Americans would like to continue working from home and 70% would like to retain the option to work at home. Major events like the one we are experiencing accelerate social trends. We are all learning a new rhythm of life and many of us like it. If you are enjoying working from home it’s time to consider, what does this make possible? Would working from home give you access to more time freedom? Would it cut down on your wardrobe and commuting costs? Listen in to brainstorm with me how you can use this new trend to perhaps extend your working life. You can’t rely on averages to plan your own spending

There is a rule of thumb in retirement spending. People who make close to $50,000 per year spend about 70-80% of that in retirement. But conversely, as your wages go up your retirement spending goes down. Those making over $100,000 per year spend only about 55% of that in retirement.

Another generalization about spending in retirement is household spending by age group. People under 55 spend about $57,000 per year. Ages 55-64 spend approximately $59,000 each year. But then the numbers begin to go down once people reach ages 65-74. This demographic spends $47,000 and finally those in their golden years who are 75 and older only spend $35-37,000 per year.

We can look at averages and facts and figures all day long but they don’t mean anything. These averages aren’t yours. The data is a good place holder to use as you plan far into the future but in the short-term, the only figures you should be concerned with are your own. We all have different categories of spending

Everyone has different ideas about what essential spending entails. I like to customize retirement spending into 3 categories: needs, wants, and wishes. Obviously the needs category includes food, clothing, shelter, and healthcare. But it is important to include a bit more than the basic rice and bean budget. Your needs category is your firewall. You want to make sure that you can really live your life on this level. The wants category may include more travel and discretionary spending. The wishes category is where you get to dream big. I encourage you to create different retirement budgets based on these 3 categories. Two ways to estimate your budget

There are two approaches to create a retirement budget. If you are still a way out from retirement, one easy way to project your spending is to do a top-down budget. A top-down budget is where you estimate all of your income sources and then subtract the money you save. This will give you a ballpark figure for your current budget.

As you get closer to retirement you’ll want to create a more accurate model. You can do this by forming a bottom-up budget. This is where you will get a real handle on each category of your spending. This type of budget takes a lot of work, but it’s important to be as accurate as you can as you approach retirement.

One way you can really dial in your budget is to live on your projections for a year and see how that works for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT

[1:21] Americans want to keep working remotely

PRACTICAL PLANNING SEGMENT

[10:45] Spending assumptions
[15:56] You can’t rely on averages to plan your own spending
[17:20] Health care costs vary per age as well
[23:45] We have different seasons of life
[35:36] Healthcare assumptions
[39:35] Two ways to estimate your budget

Q&A SEGMENT

[43:49] An asset dedication question
[47:41] An IRMAA correction
[49:02] RMD’s for 2020

TODAY’S SMART SPRINT SEGMENT

[52:33] Revisit your retirement cost assumptions

Resources Mentioned In This Episode
Jasnon Aten’s article in Ink magazine
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Work with Roger
Roger’s Retirement Learning Center

Setting Your Retirement Assumptions: Life Assumptions May 06, 2020

Show notes

What retirement assumptions do you have? In retirement planning, we rely on assumptions for just about everything. This may seem like a small thing, but this topic is so big that we are taking the whole month of May to talk about it. Today we tackle the life assumptions: how much you plan to spend, how long you plan to work, how long you think you’ll live. Join me as we consider the different assumptions we all make when planning for retirement. What is an assumption?

Your assumptions are your windows on the world. An assumption means assuming something is true, taking it for granted. In retirement planning, we must make assumptions. Assumptions must be made to plug into the models. We assume for inflation, spending, costs, markets, longevity, and health. As you plug these numbers in, the range of potential outcomes gets wider and wider the farther out you project. And often in retirement planning, we plan as far as 40 years out. You can never get the assumptions just right but you can try to get as close as possible. We often have incorrect assumptions about how we will spend money

We need to make assumptions about how we will live in retirement to be able to plan accordingly. One of the biggest inputs into the retirement plan is spending rhythm. Many people assume that they will continue to spend in retirement as they do now. But retirement spending is lumpy. It doesn’t have an even flow. In the go-go years at the beginning of retirement, we often spend a lot, then that spending slows down as life slows down. It’s hard to imagine yourself at age 70 or 80. But try to think about how you’ll be living your life at that age. We assume that retirement is like turning off a light switch

One day we’re working and then the next day we stop. Right? Wrong. Retirement doesn’t have to be that way. Most people actually work for a period of time in retirement. You can take that light switch and make it a dimmer switch. If you are willing to rethink work and rethink income then you can still work and have the time freedom that you seek. You can choose pretirement and slowly But oftentimes it’s not that way. And it doesn’t have to be that way. How will longevity affect your plans?

Be careful with statistics, they can fool you. We often look to statistics to plan our longevity outlook. But your health is not average and it’s not based on statistics. You need a more personalized plan. Consider where you really fall on the longevity timeline based on health, fitness, and family history. We also often assume that our mental capacity will remain the same. You may want to factor in some kinds of systems to help keep your finances running smoothly if your mental function begins to diminish. These aren’t things we have fun thinking about but they are important. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT’S THAT MEAN SEGMENT

[2:54] What is an assumption?

PRACTICAL PLANNING SEGMENT

[6:00] We often have incorrect assumptions about how we will spend money
[10:02] We assume that retirement is like turning off a light switch
[14:32] Is your plan dependent upon you working in retirement?
[17:07] Will helping your kids impair your retirement plans?
[18:38] How will longevity affect your plans?
[23:44] You also need to consider your mental capacity
[26:02] Consider your assets

Q&A SEGMENT

[29:20] A super backdoor Roth question

Resources Mentioned In This Episode
John Hancock longevity calculator
Nova Article by Kate Becker
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Work with Roger
Roger’s Retirement Learning Center

Beachwalker (The Retirement Coach) is in the House Apr 29, 2020

Show notes

Beachwalker, the rockin’ retirement coach is in the house today. He joins us once a month on the show to give some helpful tips on how to create an awesome retirement. Today we’re talking about attitude. Attitude makes a huge impact on your retirement, your health, and even your longevity. Listen in to hear how a positive attitude can affect your life and stick around for the Q & A segment to hear the answers to questions you didn’t even know you had. Attitude isn’t everything, but...

It’s a huge component of rocking retirement. Attitude is an important determinant of the quality of your life now and it will be so even more in retirement. The definition of attitude is a settled feeling about someone or something that is reflected in behavior. So what comes first the chicken or the egg - a great retirement or a positive attitude? What do you think? Attitude has an even bigger factor on longevity than your health

People are living so much longer than they used to. 80 is the new 60. With this newfound longevity, it’s important to create a positive mindset. You can’t let every ache and pain get you down, find a way to deal with that so you can move on and make the best of your life. Studies have shown that a positive attitude impacts your balance, your mental health, and even your longevity. Aging is inevitable, being old is a choice. Robo advisors and target-date funds in retirement

If you are young and accumulating your savings, target-date funds are totally fine (even though I like allocation funds better). And robo advisors are able to put your portfolio on autopilot by automatically rebalancing whenever you need it. But these tools are not set up for managing your assets in or nearing retirement. In retirement, they can lead you astray since they are not geared for distribution. How do you determine whether to take a lump sum or an annuity?

Choosing between taking a pension or a lump sum is a tough call. There are many factors to consider. One factor you should think about is what other assets do you have? A pension offers flexibility if you have other assets in place. But if you are underfunded for retirement taking a lump sum would create investment risk at a time when you need to have guaranteed income sources. When planning for retirement, I like to first create a process, then a strategy, and lastly, I choose the tactics to use. You can create your own model at home using your own process, strategy, and tactics. Try modeling both choices and see where you end up. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN SEGMENT

[3:00] Attitude isn’t everything

COACHES CORNER SEGMENT

[5:22] People who have a more positive perception of aging live longer

Q&A SEGMENT

[10:30] Robo advisors and target-date funds in retirement
[12:43] Why isn’t catastrophic long-term care a thing?
[14:30] Lump sum or annuity?

TODAY’S SMART SPRINT SEGMENT

[19:27] Ask yourself, what does this make possible?

Resources Mentioned In This Episode
BOOK - Younger Next Year by Dr. Henry Lodge
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Work with Roger
Roger’s Retirement Learning Center

5 Ways Retirement Planning Will Never Be the Same Apr 22, 2020

Show notes

Retirement planning will never be the same. Actually there are many aspects of our lives that will never be the same. The Coronavirus disruption has been exactly that, a disruption of our everyday lives. It has affected everything from education, to work life, to retirement planning. Find out how staying intentional and agile will help you rock retirement on this episode of Retirement Answer Man. Disruption causes trends to accelerate

Normally we see new trends happening but they take time to really take root. But once some kind of disruption takes hold those trends begin to accelerate. Remote working and online learning were two trends that were coming along in the world but they never really took hold until the Coronavirus disruption. These two trends have been fueled by this disruption and education and the workspace will never be the same. How do you define retirement?

If you look retirement up in the dictionary it can mean several things. But none of those ring true for most people in the various stages of retirement planning. We all have our own definitions, our own versions of how we want to spend our golden years. Many of us feel that the most important thing to consider in retirement is time freedom. We want to have control over our own schedules. Plenty of people want to continue to work, but for a different purpose. The compensation may not be the same. Instead, they choose to work to give or to make an impact in the world. So what does retirement mean to you? 5 ways retirement planning is changing

School and work aren’t the only aspects of life that are changing. Retirement planning is changing as well. This field has its own trends that will be accelerated by the Coronavirus disruption as well. Here are 5 trends that I see changing retirement planning.

I think we were all starting to value experiences over things and that will continue to accelerate when all this is said and done.
Retirement planning generally starts out as a mathematical formula and we often forget life outcomes. I think retirement planning will become less investment-focused, and more focused on creating the outcomes that are right for you.
Matching our assets with our liabilities will increase in importance in retirement. This is what retirement planning actually is.
People will become more focused on short-term volatility risk and may forget about long-term inflation risk and decreased buying power. Since inflation has been so low for so long we frequently ignore its risk.
Pretirement will boom. Pretirement is an excellent bridge between full-time work and retirement. It doesn’t just give you cash flow in retirement it also gives you:
- Time freedom
- A purpose or something that interests you
- A way to help mentally ease into retirement
- A transition in your social network
- Agency and a sense of power

What trends do you think might accelerate from all of this? Let me know by responding to the 6 Shot Saturday email. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT

[0:40] Disruption causes trends to accelerate

WHAT DOES THAT MEAN?

[3:20] What does retirement mean?

PRACTICAL PLANNING SEGMENT

[5:35] 5 trends in retirement planning

Q&A SEGMENT

[20:28] How should Mitchell roll his pension so that he doesn’t get taxed for the lump sum?
[22:00] What kind of stress tests can we do to prepare for retirement?
[25:38] How to prioritize what’s important in stressful times
[30:28] How to pursue a second act

TODAY’S SMART SPRINT SEGMENT

[33:24] What can you do to treat yourself?

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

How to Navigate a Recession in Retirement Apr 15, 2020

Show notes

So, we’re not in a recession yet, but these are definitely challenging times. Now is a great time to learn how to navigate a recession in retirement. A recession is a temporary economic decline with a fall in the gross domestic product over successive quarters. Although we technically aren’t in a recession right now, we can stay agile by preparing ourselves for what is to come. Join me today to learn how you can navigate a recession in retirement. You’ll learn 6 areas in which you can play offense or defense to help you be prepared for what may lie ahead. 6 areas of defense or offense to prepare yourself for a recession in retirement

Maintain a mental edge - What do you do to stay mentally agile? Self-care is so important during challenging times. Exercise and journaling are 2 great ways to practice self-care. Find a healthy way to vent if you need to let off steam. It’s also important to limit the news you watch and avoid the bait of commercials and sales pitches. Be careful with those sales pitches, everyone is trying to take advantage of the situation to make a buck.
Evaluate what is important to you - Right now we are experiencing unprecedented times where we have an opportunity to really think about what is important to us. So give it some thought. What are your life goals? What is important to your life?
Consider your cash flow - Another opportunity presents itself to stress test your retirement plan. Review your liquidity. Do you have enough laid out in cash reserves? Take this time to evaluate the sustainability of your retirement plan. Build a cash floor, moderate your wants and wishes
Look for opportunities - Since interest rates are at an all-time low, consider refinancing your mortgage. Now is also a great time to find flexible travel deals look for travel deals.
Examine your portfolio - This is a good time to simplify your investments in a tax-efficient way. Examine your asset allocation. Is your portfolio doing what you expected? You don’t need to take action right now if you want to change, just make a note of it for better times. Examine your risk tolerance. We’re used to riding risk while accumulating assets, not while we’re in the decumulation stage of life. You also have an opportunity to do some tax planning this year. You may be able to take advantage of tax loss harvesting. Also consider whether it makes sense to do some Roth conversions.
Help the family - Now is a great time to gift shares of stock or cash. Many people are experiencing challenging times with job losses. Remember you can gift $15,000 per person. You could also consider making an interfamily loan to someone who just needs help weathering this storm. These loans have no requirements other than you must charge a minimum applicable interest rate which is low right now.

How will you stay agile?
You may never be 100% prepared for a recession in retirement, but you can be agile. Think about the ways you can maneuver and look for opportunities. Although it is important to consider how to defend your assets it’s also important to stay on your toes and be proactive. So what will you do to stay agile in the coming weeks and months?
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?

[2:00] What is a recession?

PRACTICAL PLANNING SEGMENT

[3:22] 6 areas to help you navigate a recession

THE Q&A SEGMENT

[24:30] Where should you invest a chunk of money?
[28:40] Evaluate the things you own
[31:55] How to best utilize tax brackets
[34:33] No one knows how to file for unemployment as a contract worker

TODAY’S SMART SPRINT SEGMENT

[38:00] Do something to manage your stress and anxiety

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

Retirement Planning Overload: Don’t Think too Much! Apr 08, 2020

Show notes

If you are nearing retirement you may be hyper-aware of the corona disruption. With all this extra time on your hands, you may want to spend more time planning your retirement. But don’t overthink this. Listen to this episode to hear my take on 6 years of Retirement Answer Man plus hear the answers to several listener questions. 6 lessons from 6 years of Retirement Answer Man

Thanks for 6 years of Retirement Answer Man! Last week I entitled the episode 6 Retirement Lessons from 6 Years of Retirement Answer Man and then I forgot to mention the lessons or the fact that 6 years have gone by. So here are 6 of my takeaways after 6 years of producing the show.

It’s all about the money. Many think of retirement as being a math problem, but it’s not. There are too many unknowns for retirement to be as easy as a math problem. Retirement is the problem that cannot be solved that easily.
Going from accumulation to decumulation is hard. After saving your whole life, switching gears is a challenge. Not only are you no longer earning, but so much else in your life is changing as well. Your social networks, your purpose, your relationship are just some of the things that change alongside transitioning from being an earner to living off your savings.
Your attitude is critical to your success. Attitude is everything. You can have the attitude: what does this make possible? Or, why is this happening to me? Don’t let the circumstance determine the attitude, let the attitude interpret the circumstance.
The traditional system of retirement planning is broken. This system is based on sales of products and investment portfolios. Financial planning is evolving though
Little actions are critical. What can you do next? Create the momentum to take advantage of opportunities and mitigate risk. Agile financial planning is a journey.
Trust that everything will be ok. Take action, but understand that your path will be revealed.

What retirement lessons have you learned on your journey? Let me know! How to time the bottom of the market

One listener writes in with a question about timing the bottom of the market. He had the foresight to pull out when the virus hit China. But now he wants to get back in near the bottom. He is worried that he might miss the upswing.

Planning the bottom of the market is pretty challenging. I am not a market timer. I prefer to have a process and strategy where I develop my tactics. Without a process, our choices are fueled by emotion rather than logic. Do you have an investment process? Listen in to this episode to hear more listener questions OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT

[2:45] 6 lessons from 6 years of Retirement Answer Man

PRACTICAL PLANNING SEGMENT

[13:43] Recommendations on buying gold
[19:12] How to time the bottom
[23:40] How to build a fixed income source for your pie cake

TODAY’S SMART SPRINT SEGMENT

[28:02] What are you going to learn over the next 7 days?

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

6 Retirement Lessons from 6 Years of The Retirement Answer Man Apr 01, 2020

Show notes

Making the choice to retire and actually stepping away from the comfort of your long-time career can be so difficult. It takes a lot of courage to make that leap. On this episode of Retirement Answer Man, we’ll be analyzing how you can create a strategy to step off that train and get started on your retirement. Listen in to hear how to start planning for the retirement that you know you want. But first, let’s talk about this stimulus package. What does the CARES Act mean for you?

In a landmark piece of legislation, the CARES Act was recently signed into law. Roughly 90% of the population will be receiving a direct deposit into their bank account courtesy of Uncle Sam. The qualifications will be based upon your most recent tax return. If you are married and made less than $150,000 then you will qualify. Another perk of the CARES Act is that in 2020 there will be no required minimum distributions. Listen in to hear about 401K loans and hardship distributions which were also covered in the bill. It can be hard to retire

Sure retirement sounds exciting, but actually stepping away from a longheld career and living off your savings can feel like jumping off a cliff. At this point in your life, you are probably at the top of your game. You are probably making more money than ever before. You are the captain of your universe. How can you step off that money-making train and into the unknown? Some strategies to help you prepare to retire

So how do you garner the courage to give up your income, live off your savings, and step into this unknown world? There are some tactical strategies that you can use to help you prepare for this change in life.

Set a deadline for retirement - not just in general, set a specific date to pull the plug.
Create a compelling vision of where you want to go - Use process strategy tactics to prepare and organize your resources.
Pretire - set yourself up to make a little bit of income. Now is a great time to prove to your employer that you can work remotely. Pretirement can be a great way to gain time freedom without giving up all of your income
Flock with birds of the same feather - get to know people that are walking the same path but a bit ahead of you in their journey. The Rock Retirement Club is a great way to share ideas and conversation with people in the same boat.

Now more than ever it is important to remain agile in your retirement planning. Listen in to hear listener questions and to find out how you can prepare to retire. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN?

[1:18] What does the CAREs Act mean for you?

PRACTICAL PLANNING SEGMENT

[7:41] It can be hard to retire
[13:43] Some tactical strategies

LISTENER QUESTIONS

[17:10] This whole month is dedicated to your questions
[18:00] Will the stimulus package end up causing inflation?
[21:54] How to rebalance at this time

TODAY’S SMART SPRINT SEGMENT

[28:35] This is the perfect time to get ready

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

Fritz Gilbert's Keys to a Successful Retirement Mar 27, 2020

Show notes

We chat with Fritz Gilbert, founder of the Retirement Manifesto blog and author of Keys to a Successful Retirement, Staying Happy, Active and Productive in Your Retirement Years.

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