Medicare eligibility starts at at 65. If you're blessed to be able leave your career earlier, you'll need to evaluate your healthcare options until then. This week I talk with health insurance guru, Misty Kimbrough about your healthcare options before age 65. Invest Wisely 3 things you can do to ignore the voices in your head I'm starting to hear voices in my head. Maybe you are too. They're asking "Should I move to the sidelines? Should I wait to invest?" Certainly we've heard these voices on o...
Oct 06, 2014•30 min•Ep. 34
If you're planning on living a long life, make investing in your health a priority. USA Today recently reported that the top retirement concern for people over age 50 is healthcare costs. Growing older and being unhealthy can be financially disastrous. It just makes sense, to take a proactive approach to investing in your health. INVEST WISELY: 5 Steps to a Healthier Life with Corbin Links Corbin Links not only talks the talk, he has walked the walk. His 12 year journey to living a healthy lifes...
Sep 29, 2014•1 hr 2 min•Ep. 33
Are you in a career that matches your God given talents? Most of us are in careers that we were trained to do. Not careers that centered on our talents. After college, we start work and our careers generally progress on their own, without much intentional direction from us. If you're in your 50's and this fits you, it's not too late to begin to pivot you're career towards something you have natural talents for. In this episode, Career Pivot 's Marc Miller, outlines how to start your pivot. INVES...
Sep 23, 2014•37 min•Ep. 32
Wouldn't it be great to learn about retirement from those that have retired successfully? Here's your chance. Today at FinCon , the national conference for money media, moneytips.com is releasing the book, The Retiree Next Door. The best part is you can get it for free . Over the last year, the folks at moneytips.com conducted a survey of over 500 successful retirees. Their objective: to identify clear traits and strategies they used to do so. Recently, I spoke with Moneytips.com's Michael Dubro...
Sep 16, 2014•21 min•Ep. 31
Have you ever felt distant from your wife? I sure have. In my 23 years of marriage, there were times my wife and I drifted apart. It's easy to do. Work, kids, hobbies, etc. can cause a man and wife to drift apart. We eventually learned we needed to be intentional about nurturing our marriage. Plan Well: Invest in Your Marriage In this week's episode Jackie and I discuss how married men can become the leaders they want to be. Jackie helps husbands and fathers learn how to lead and love their fami...
Sep 14, 2014•44 min•Ep. 30
Taxes suck. They erode away your income, savings and investments. One strategy to maximize your retirement savings is to convert your IRA to a ROTH IRA. ROTH IRAs are a powerful tool to help you do this but there are lots tax and planning issues to consider first. That's why I turned to Ed Slott , America's IRA expert. He is a nationally recognized IRA-distribution expert, a professional speaker, and the creator of several public television specials, including the most recent, Ed Slott’s Retirem...
Sep 07, 2014•34 min•Ep. 29
Stressed about planning for retirement??? Your not alone, most of use (including me) freak out when we look at what it could take to provide for our family in retirement. Don't believe all the statistics, you can take control. Investing Corner Listener Question Wayne Asks My question is are there hidden risks doing my diversifying on top of diversity that I do not realize, other than my time for managing, and the loss of opportunity of my conservative and explore portfolio $s? Wayne has multiple...
Sep 01, 2014•41 min•Ep. 28
Setting retirement goals can be a big waste of time. In my 23 years of advising individuals and families, I've rarely found someone that had clear retirement goals. Guess what? They were still able to live a great life and retire comfortably. In this episode I'll explore the problems with setting retirement goals and offer a better way to plan. Retirement Tip of the Week How to Prepare for the Unthinkable: a House Fire Recently someone close to me went out for a movie and returned to find their ...
Aug 26, 2014•41 min•Ep. 27
If you chose to invest in real estate as part of your retirement plan, you better understand what you're signing up for. Most "educational" classes, workshops etc. focus on all the benefits of real estate and gloss over the realities of doing it. Buying, owning and operating rental properties is hard work. This week, I talk with Philip Wetzel about the real work that goes into investing directly in real estate. Retirement Tip of the Week 3 lessons from Jim Collins ' books Good to Great and Great...
Aug 19, 2014•44 min•Ep. 26
My financial records are a mess. Are yours? In this episode, I'll outline the framework I'm going to use to get my recording keeping in order. Could you find that important docuement if you needed to? If not, listen and we can get organized together. In the Retirement Tip of the Week, I'll give you a framework for lending money to friends or family so you can help out without ruining the relationship.
Aug 13, 2014•39 min•Ep. 25
Is the stock market correction here? In the last week of July the S&P 500 index lost 2.7%. The worst weekly loss in over two years. It didn't take long for the sensationalist headlines to pop up. Here are two of my favorites. Warning: That plunge in stocks is just the beginning MarketWatch.com 3 market warning signs predict 20% stock tumble Insight: When these indicators flash together, it’s time to sell MarketWatch.com Strategies to Help You Handle Market Corrections I'm all about investing...
Aug 05, 2014•39 min•Ep. 24
The cost of a financial misstep in retirement can be devastating. During retirement it is hard to "earn" your way out of poor decisions. Poor planning or a big loss during retirement can ruin your financial security. In this episode I discuss the most common retirement "screw ups" I've seen and how you work to avoid them. 7 Ways to Screw Up Your Retirement Having unrealistic return expectations for your investment assets (too high in 1990s, too low in 2007-08) Crazy as it sounds, in the 1990s pe...
Jul 25, 2014•27 min•Ep. 23
This week I speak with Burt White , Chief Investment Officer of LPL Financial. Burt and I discuss LPL's mid-year outlook Titled: The Investor's Almanac. Burt and his team do a great job simply communicating the economic and investing environment. Their Investor's Almanac is a great tool to help us invest wisely. No bold predictions or market calls here, just easy to understand insights you can use to make better informed investing decisions. If you'd like a free copy of their Investor's Almanac ...
Jul 17, 2014•37 min•Ep. 22
In this episode, I'll show you how to come to terms with your worry and the uncertainty about retirement. "I worry" I talk to a lot of people about retirement. Not only clients but most everyone I meet over age 50. I'll always ask them what their #1 thought is on retirement. I've learned a lot from this exercise. The most important thing I've learned is that people worry about retirement....alot!. They worry about: all the uncertainty living without a paycheck inflation running out of money main...
Jul 14, 2014•34 min•Ep. 21
“How do I understand Social Security and Medicare?” This is a question I hear most often from people planning for retirement. It's understandable. Social Security and Medicare benefits will play a big part in your retirement. In this episode we begin to unwrap both and begin to build a framework for you make decisions about your Social Security and Medicare benefits. I say we “begin” intentionally. These are BIG subjects. In future episodes, we’ll continue to improve your understanding of your S...
Jul 07, 2014•47 min•Ep. 20
I Hate Keeping a Monthly Budget. Yes, I know that keeping a monthly budget is personal finance 101. Over the years I've tried, repeatedly, to track every expense in a monthly budget. Each time I failed after a few months. It's just too much work. I have better things to do than be a part-time bookkeeper. Do You Hate to Keep a Monthly Budget? Tracking all your expenses is easier than ever. Programs like Quicken and Mint have powerful accounting tools in simple to use packages. Still...most of us ...
Jun 30, 2014•28 min•Ep. 19
Deal with Death By Celebrating Life Last week, I wrote about my sister's passing and her wish that her family have a "Celebration of Life" picnic ( you can read it here ). In this podcast, I share my thoughts on my sister's choice and how you can do the same. How to Overcome New Car Fever New car fever is a difficult bug to beat. Everyday, driving, you window shop as you drive, imagining yourself in the car models you see whizz by. Once you're bitten, the fever typically ends in you in a shiny n...
Jun 23, 2014•34 min•Ep. 18
This week we discuss: Why you should ask your advisor about their succession plan How to manage cash flow during retirement Less Than 10% of Advisors Have a Succession Plan This is a scary number considering that if your advisor is unable to serve you due to injury or death, the retirement plan you’ve put in place could be in jeopardy. Who will service you? Who will advise you? What communication will you receive? Who will manage your assets? These are just some of the important questions that n...
Jun 16, 2014•25 min•Ep. 17
Working during retirement could be the best thing you do to find meaning, stay healthy and earn money while doing what you love. In her book, Second-Act Careers: 50 Ways to Profit from Your Passions During Semi-Retirement , Nancy Collamer has created a great resource for anyone wanting to take their passion and earn income from it during retirement. Nancy Collamer is a speaker, career coach, and author who writes a semi-monthly career column for NextAvenue.org (PBS) and Forbes.com. Her home on t...
Jun 08, 2014•44 min•Ep. 16
Jeff Goins doesn't want to miss his life. And he doesn't want you to either. His latest book, "The In-Between: Embracing the Tension Between Now and the Next Big Thing" serves as a reminder to himself, and everyone that most of our lives are spent "in-between" the big things. It is in these moments we can find opportunities to live more fully. In This Podcast We Discuss: Practicing being present in your life Regrets and how they can lead to positive change Managing the natural tension between li...
Jun 01, 2014•42 min•Ep. 15
Want a great gift for a graduating high school or college senior? Jon Chevreau’s book, Findependence Day , is a great gift that teaches important financial lessons within an interesting fictional story of a young couple walking through life. We discuss: The definition of financial independence Life energy and the cost of spending The war against consumerism Why it’s harder to save than it used to be The danger of paying too much attention to financial media The call to action of “Freedom Not Stu...
May 26, 2014•31 min•Ep. 14
Johns Hopkins University's Center for Innovative Care and Legg Mason recently issued a study titled "Aging and It's Financial Implications: Planning for Housing. Kathleen Pritchard, Managing Director with Legg Mason, talks with host Roger Whitney about the importance of planning ahead for housing during retirement There are three typical phases during retirement. The: Go Go Years--when you are healthy and active (60s & 70s) Slow Go Years--when you slow down due to health issues (70s & 80...
May 19, 2014•32 min•Ep. 13
"He who asks a question is a fool for five minutes; he who does not ask a question remains a fool forever." - Chinese proverb There really are no stupid questions. We're told this all the time but I don't think most of us truly believe it. As a result, we leave many very important questions unasked. When your planning for your financial future this can be, at best, an inconvenience, at worst, financially devastating. The mission of this blog and my podcast, PLAN WELL INVEST WISELY , is to help y...
May 12, 2014•37 min•Ep. 12
Over the last 20 years studies show that the average investor greatly under performances the stock and bond markets. Why do investors underperform virtually every capital market? In this week's episode, I speak with Weston J. Wellington a Vice President with Dimensional Fund Advisors about how you can make smarter investment decisions and possibly improve your investment success. Mr. Wellington is an expert in behavioral finance and investing with over 35 years of experience in the investment in...
May 04, 2014•27 min•Ep. 11
Walt Disney World is the classic family vacation. If you’re planning on visiting Walt Disney World, you’re going to love this week’s PLAN WELL INVEST WISELY podcast. I speak with Lou Mangello, an internationally recognized expert on the Walt Disney World Resort. Lou is a former attorney from New Jersey who has made his lifelong passion ( Walt Disney World ) his full time career. His website wdwradio.com is an amazing resource for all things Disney. In this episode we discuss: His book, 102 Ways ...
Apr 22, 2014•30 min•Ep. 10
How to pay for college is one of the most frequent questions I get from parents. This week I interviewed Celest Horton from How to Pay For College HQ to learn about the great resources to help parents pay for college. Celest knows it's possible to pay for college without student loans (she did it). Each week, on her How to Pay for College HQ podcast she interviews industry experts to help listeners learn what is necessary to plan, prepare and pay for college without the assistance of loans. In t...
Apr 20, 2014•31 min•Ep. 9
In this Plan Well Invest Wisely podcast, Roger Whitney interviews Lauren Gaggioli, founder of Higher Test Prep Scores . They discuss the importance of the SAT and how to help your child select the right school for them. Here are some of the topics Lauren and I covered: The importance of taking college preparatory tests such as ACT, SAT, PSAT. Determining which test(s) to take when choosing a college. The advantages of taking both ACT and SAT tests. Motivating students to take responsibility in p...
Apr 10, 2014•36 min•Ep. 8
It's spring and the desire to spend time outside with the family is blooming. Before you allow that budding desire to lead you to buy an RV, boat or other recreational item make sure you closely look at the potential pitfalls of ownership. In this episode, host Roger Whitney tells his story of how he did everything wrong when he purchased an RV. He also outlines 10 things you should consider before you purchase your RV. This is the REST of the story not told in the RV brochures and outdoor shows...
Apr 07, 2014•25 min•Ep. 7
How do you find the right financial advisor for you and your family? In this special mid-week edition, host Roger Whitney gives you a framework for how to interview a financial advisor candidate and 15 questions you should ask to help choose the right financial advisor for you. In this episode he covers: Why it is important to interview multiple financial advisors What to look for in a financial advisor Pre-work you can do before you meet the financial advisor 15 questions to ask to help you fin...
Apr 02, 2014•35 min•Ep. 6
This Week, Roger Whitney introduces a new service YOU ASK I ANSWER , where you can ask your retirement planning questions and receive a response. Then he begins to answer the question, will I have enough money to maintain my lifestyle during retirement? The first step to answering this question is to determine what your retirement lifestyle will be. You do this by breaking your retirement lifestyle into three buckets: Retirement Essentials. Those retirement expenses needed to maintain your house...
Mar 31, 2014•35 min•Ep. 5
