Retirement Starts Today

Latest Episodes:

Don't Let Your Brain Shrink Your Retirement Benefits Aug 25, 2025

Show notes

We're taking another look at one of retirement planning's sneakiest pitfalls — underestimating your own life expectancy.

We explore why smart people make short-sighted Social Security decisions, how psychological biases can distort your thinking, and why planning to live a long time isn't pessimistic.

Then, our listener question covers the nuts and bolts of how to apply for Social Security (online, phone or in-person), a critical heads-up for widows who want to claim survivor benefits without accidentally locking in reduced retirement benefits, and what happens when spousal benefits enter the mix after one spouse files before the other.

Resources:

The (F)Law of Averages: Episode 412
Article by Rick Kahler of Advisor Perspectives: Underestimating Your Life Expectancy: Don't Let Your Brain Shrink Your Retirement Benefits
Applying for Social Security benefits: ssa.gov

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Inside the new Tax Rules for Retirees Aug 18, 2025

Show notes

We're going inside the new tax rules for retirees.

From a brand-new $6,000 deduction for seniors to major changes in how charitable giving is handled, the One Big Beautiful Bill Act has reshaped key parts of the retirement tax landscape.

We'll break down what's changed, what's just political spin, and what you can do right now to take advantage of these new rules.

After that, we answer a listener question: Have you ever wondered what the letters behind a Financial Advisor's name mean?

Resources:

John Manganaro article from ThinkAdvisor: How the New $6,000 Tax Deduction for Seniors Really Works
Article from Fidelity Charitable: One Big Beautiful Bill (OBBB): Impact on charitable giving

Connect with Benjamin Brandt

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Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Why Financial Independence is Overrated Aug 11, 2025

Show notes

Nick Maggiulli's latest article in Of Dollars & Data challenges one of the core ideas that drives personal finance blogs, podcasts, and even some of our own thinking — the belief that financial independence should be the ultimate goal.

We explore the surprising downsides of chasing early retirement, the difference between financial independence and financial freedom, and why something called "Coast FIRE" might be the real goal worth aiming for.

I also answer a listener question: What can retirees do to fight back against inflation? One listener asks how to protect their buying power as costs keep rising. We go over several practical, actionable ways to stretch your dollars and build an inflation-resistant retirement.

Resource:

Article by Nick Maggiulli in Of Dollars & Data: Why Financial Independence is Overrated

Connect with Benjamin Brandt

Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter
Work with Benjamin: https://retirementstartstoday.com/start

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Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

The (F)Law of Averages Aug 04, 2025

Show notes

The (f)law of averages challenges a dangerous assumption we see far too often in retirement planning: The use of average life expectancy as a reliable planning target.

The question is: If you make it to retirement - are you already above average - and if that's true, how do we use that in our planning?

I share six key takeaways from the article:

Life expectancy is an average, not a prediction
The mode — not the mean — may be more useful for planning
Life isn't neat and tidy
Even "complete" life expectancy isn't safe to use
Relying on life expectancy is a planning shortcut — and not a good one
The better tool is the survival curve

After that, I answer a listener question: Can you really self-insure for long-term care and use the tax code to make your dollars go further? One listener heard about using the medical expense deduction to offset the cost of care — and wants to know which types of care actually qualify. So, what does qualify?

Resource:

Article by Jeffrey Dellinger in Advisor Perspectives: Life Expectancy: The (F)Law of Averages

Connect with Benjamin Brandt

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Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Live on $2,972 monthly in an RV Jul 28, 2025

Show notes

Could heaven be an RV in a state park?

It is for Marian Barry, who became a traveling nurse after working in hospitals during the pandemic.

We share this story from a Business Insider article, pointing out that she lives on $2,972 a month in Social Security and is lovig life. "I literally live in heaven."

Key takeaways:

Low-cost retirement living
Lifestyle vs. possessions
Community and mental well-being
Flexibility in retirement
Pursuit of happiness
If any of this interests you - practice it first!

Then I share some of my thoughts from our Spring client meetings. I found some common threads from some our clients that seemed the most at peace - even during the reported "market turmoil".

Resource:

Article by Eliza Relman from Business Insider

Connect with Benjamin Brandt

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Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Spending Drops in Retirement, but Satisfaction Doesn't Jul 21, 2025

Show notes

New research from David Blanchett, head of retirement research at PGIM, challenges one of the biggest assumptions in retirement planning: that happiness in retirement depends on maintaining a constant—or even increasing—level of spending.

⬇️ Upon entering retirement, households experience a median consumption decline of about 20%.

This drop is often viewed as a red flag in traditional financial planning models.

However, Blanchett argues that this decline is not necessarily problematic, especially when you look at how financial well-being changes over time.

☎️ Then on our listener question, we hear from a 34-year-old investor who's been all-in on stocks since taking Dave Ramsey's advice early in their career. Now, they're wondering how and when to start easing into a more balanced portfolio with bonds.

We'll talk strategy, psychology, and sprinkle in some data on market highs that might surprise you.

Resource:

Article by John Manganaro from ThinkAdvisor: Spending Drops in Retirement, but Satisfaction Doesn't: Blanchett

Connect with Benjamin Brandt

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Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

One Big Beautiful Podcast Episode Jul 14, 2025

Show notes

There is a lot to cover in this episode, including new legislation that could impact your retirement.

Plus, 6 More Retirement Financial Myths to Avoid, and a listener with substantial assets who wants to know how to pay for a new car.

The OBBB

The One Big Beautiful Bill became public law on July 4, 2025. Included are:

Lower Tax Brackets Are Now Permanent
Larger Standard Deduction
New Senior Bonus Deduction (2025–2028)
Above-the-Line Charitable Deduction (2026–2028)
Expanded SALT Deduction
ACA Subsidy Planning Alert
New Car Deduction

If you're a client of ours - we'll go into these changes in detail during our year-end appointments. If you really like the numbers, we'll do a before & after to calculate your specific tax savings impacted by these changes.

Article: 6 More Retirement Financial Myths to Avoid

This article by Sheryl Rowling from Morningstar addresses these six myths:

You Should Never Make a Big Splurge in Retirement 2. It's Best to Give to Charity After You Die 3. Spending Less Is Always Better 4. You Must Pay Off Your Mortgage Before Retiring 5. Reverse Mortgages Are a Last Resort 6. Your Biggest Financial Risk Is a Market Crash

Resource:6 More Retirement Financial Myths to Avoid by Sheryl Rowling

Connect with Benjamin Brandt

Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter
Work with Benjamin: https://retirementstartstoday.com/start

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Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Mailed, Stolen and Cashed: a $114,000 Retirement Check Jul 07, 2025

Show notes

This week's headline reads like a financial horror story — and unfortunately, it's a true one. 😱

33-year-old Mr. Handy changed jobs and did what millions of Americans do every year: he requested a rollover of his 401(k).

Paychex, the provider managing his old employer's plan mailed him two paper checks: one for his traditional 401(k), and one for his Roth 401(k). They were intercepted in the mail, and over $114,000 vanished. Gone. Just like that.

This situation raises some serious questions. According to a recent report from Capitalize, 43% of people doing rollovers are still being sent paper checks. Why are we still using paper checks to transfer life savings?

We'll cover that through an article written by Ron Lieber of the New York Times.

📬 Then we will answer a listener question, "I invested in Vanguards 2035 Target fund a long time ago. Not a bad move. BUT, I did so in a brokerage account and not an IRA. Now I have over $100k in it. Oops. Should I leave it there or try to shift to a more flexible fund before a I retire in 5 year or so?"

Resource:

Article by Ron Lieber: His Life Savings Were Mailed to Him by Paper Check. Now, It's Gone.

Connect with Benjamin Brandt

Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter
Work with Benjamin: https://retirementstartstoday.com/start

Follow Retirement Starts Today in:Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart

Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Monetizing a Hobby in Retirement Jun 30, 2025

Show notes

According to BankRate, 23% of Americans 60-78 have a side-hustle. Maurie Backman says in an article by Kiplinger that this would help with two key areas in retirement planning: It provides us with something fulfilling to do after our primary career and provide a little extra cash in retirement.

The benefits of a side hustle:

Mental Engagement
Extra Income
Social Connection
Sense of Purpose

The Pitfalls of a side hustle:

Tax Complications
Outspending your retirement budget in search of business profits
Medicare Premium Creep (IRMAA)
Lifestyle Clash
Time Commitment

Also in this episode, we discuss a listener's question about global stock allocations - and asks if I think it's better to own a global fund or to own US & international equity separately. How can one balance simplicity and effectiveness in their plan?

Resource: Article by Maurie Backman: Monetizing a Hobby in Retirement: The Benefits and Pitfalls Article by Bankrate: https://www.bankrate.com/credit-cards/news/side-hustles-survey/

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