If you are married, chances are you or your spouse will have to suffer through widowhood. The Widowed in Retirement series aims to help you navigate this difficult transition as best you can. Today, Mark Trautman joins me again to discuss how to work through the huge financial changes that result from losing a spouse. There are myriad financial considerations to be aware of during this change, so this may be an episode that you want to bookmark to refer back to later or send to a friend in need....
Mar 15, 2023•1 hr 2 min•Ep. 478
Even though it is difficult to think about it, at some point, those of us who are married will have to think about one of you transitioning from two to one. This week we’re exploring the nonfinancial impacts of this transition with someone who has walked this journey. Rock Retirement Club member, Mark Trautman shares his personal journey through his life-changing experience. Mark shares the challenges and the tools that have helped him get through this heartbreaking part of his life so that he c...
Mar 08, 2023•1 hr 17 min•Ep. 477
If you have been listening to this show for a while, chances are you already know how to rock your retirement. However, this can all change with the loss of a spouse. All of your best-laid plans change in an instant. That’s why this month we are focusing on going from two to one. Learn how to navigate your mindset–transition from this sucks, to how I will work through this, to having a great life. Press play to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGME...
Mar 01, 2023•43 min•Ep. 476
Life is what happens to us when we are busy making other plans. This is especially true during transitions. As I transition to adding a new segment to this show, it’s gotten a bit messy. It’s been a bumpy road and not everything has gone according to plan. Listen in to hear how this applies to retirement planning. While you’re at it you’ll hear how to decide whether to rebalance a portfolio and how to nurture relationships. Press play so that you can start rocking retirement. OUTLINE OF THIS EPI...
Feb 22, 2023•34 min•Ep. 475
Do you ever feel like a curmudgeon when you hear about new technology? Listen in to find out what has me putting on my sourpuss hat this week. We have a variety of interesting listener questions this week. Listen in to learn about purchasing brokerage CDs and CDs on the secondary market, how to decide whether to take the pension or the lump sum, and how to determine whether to become a 1099 contractor rather than a W2 employee. In the Bring It On segment you’ll hear about what work looks like in...
Feb 15, 2023•36 min•Ep. 474
Recently, we had the finale of the Retirement Plan Live series , so I want to share my observations on what we can all learn from Rosie’s experience. There was a lot to unpack from Rosie’s plan. Before we get to the Listener Questions segment, I’ll share my thoughts with you. Make sure to stick around after the listener questions to hear the Bring It On segment with Dr. Bobby Dubois. You’ll hear about building energy in retirement through your emotional, cognitive, and social well-being. Learn h...
Feb 08, 2023•50 min•Ep. 473
I’m excited about our newest segment, Bring It On with Kevin Lyles. The Bring It On segment will discuss mindset and other non-financial aspects of retirement. In addition to our newest segment, today you’ll hear about the books I read in January and listener questions. Learn how to calculate a decreased benefit when retiring early, which accounts to draw from to minimize taxes, how to manage 401Ks through a company transition, and what to consider when choosing a financial advisor. Join me for ...
Feb 01, 2023•40 min•Ep. 472
Retirement can be tricky. There are so many unknowns, so preparing yourself mentally can be a challenge. Mental toughness is the ability to remain positive and proactive in the most adverse situations. Our Retirement Plan Live volunteer, Rosie, is having to rely on mental toughness to stay on target through an extra challenging early retirement. Join Rosie and me today as we discuss the impact that the bear market had on her finances at the start of her retirement. Rosie is trying to get her ret...
Jan 25, 2023•54 min•Ep. 471
Take a breath, check yourself, and then observe where things are at. That’s what Rosie and I are doing on this episode of Retirement Plan Live. After the last episode in which Rosie planned out all her hopes and dreams for retirement, today we’re taking a look at her financial picture. We’ll walk through the sources of her social, human, and financial capital to see where she and her husband stand financially. Listen in and create your own plan as we go. Make sure to sign up for 6-Shot Saturday ...
Jan 18, 2023•29 min•Ep. 470
Setting big goals is great, but they have to be the right goals or else they could become a trap. Rosie joins us again today to set her retirement goals. In this episode, you’ll hear her financial goals for her needs, wants, and wishes. We’ll discuss her financial expectations for each of these categories and how her goals fit into her values. Don’t miss out on this second episode of Retirement Plan Live. When you finish listening, head on over to LiveWithRoger.com to register for the live meet-...
Jan 11, 2023•43 min•Ep. 469
Rosie and Dwayne retired in a bear market and now they wonder if they will have enough money to rock retirement. We will explore that question all month long in this Retirement Plan Live. Over the course of the next few weeks, you’ll learn about Rosie and Dwayne and their journey, their goals, their resources, and their investment strategy. Then we’ll wrap up this series together with a live webinar on February 2. Don’t miss out on the exciting finale, sign up at LiveWithRoger.com . Meet Rosie a...
Jan 04, 2023•56 min•Ep. 468
This is our last episode of 2022, so naturally, there will be a bit of reflection alongside the practical planning and your listener questions. Kevin Lyles also joins me in the Coach’s Corner to discuss living your best life in retirement. Let’s noodle on what it means to live authentically and discover the answers to some fantastic questions that will help guide you on your retirement journey. Stick around until the end of the episode to hear my word for 2023 and how I plan to review my year. B...
Dec 28, 2022•45 min•Ep. 467
Do you wonder what you’ll do with all your free time in retirement? Planning your time by filling your days with purpose and passion can help ease the stress that comes with the sudden emptiness of leaving behind a full-time career. On this episode of Retirement Answer Man, we’ll discuss how dabbling in a few different activities can help you find your purpose. You’ll also hear the answers to questions posed by listeners like you. Coming soon to a podcast app near you: Retirement Plan Live! Are ...
Dec 21, 2022•32 min•Ep. 466
Are you curious about the changes that are coming next year on the Retirement Answer Man show? Today, you’ll have a sneak peek at one of our new segments: the Rock Life segment. Bobby Dubois joins me to discuss how to ensure that you have enough energy so that you can rock retirement. On this episode, you’ll also hear my holiday gift-buying suggestions as well as the listener questions segment. Don’t miss out on hearing what to do with a settlement, whether to file for Social Security if you are...
Dec 14, 2022•47 min•Ep. 465
Is it worth investing in individual stocks or should you simply go with ETFs? Joe has recently parted ways with his financial planner and is beginning to manage his portfolio himself and was wondering about the benefits of these choices. Tanya Nichols and I will explore Joe’s questions as well as others on this episode of Retirement Answer Man. Listen in to hear the benefits of owning ETFs vs individual stocks, how to structure your Roth conversions, and what to do about health insurance before ...
Dec 07, 2022•48 min•Ep. 464
There comes a time when retirement planning becomes retirement doing. Many people get stuck in that gap between knowing vs. doing. While it is important to learn what you can so that you can make educated decisions, you’ll want to build a foundation to give you the confidence to act. My goal is not only to teach you information but also to help you build the structure you need to go out and rock retirement. On this episode, we’ll discuss how to close the knowing vs. doing gap, answer listener qu...
Nov 30, 2022•36 min•Ep. 463
Curiosity is an important quality to nurture as you get older; it can even help you find your purpose in retirement. Today, I’ll help you explore how to use your curiosity to discover your purpose as you embark on the next phase of your life. This episode is packed with questions that could help you rock retirement. Listen in to learn how to know if an annuity is right for you in retirement, how to apply for social security, whether you can contribute to a Roth IRA if you are an independent cont...
Nov 23, 2022•28 min•Ep. 462
The good life is a direction, not a destination. This is why we are so focused on the process of retirement planning. Rocking retirement is all about having an adaptable process to work through. On this episode of Retirement Answer Man, I answer a few process-based questions. You’ll learn how to work through the steps to rebalance a bond ladder and how to analyze whether you have enough to create a sound retirement. How retirement planning is like meditation Retirement planning has a lot in comm...
Nov 15, 2022•25 min•Ep. 461
When planning your retirement journey it is imperative that you fully explore and understand the options available. On this episode of Retirement Answer Man, Shane asks about the best ways to access his retirement accounts early. Taylor Schulte from Define Financial joins me in the listener questions segment to discuss Shane’s question by clarifying the rule of 55 and 72(t), the ups and downs of using his fiduciary to prepare Jay’s taxes, and how to fund the first 5 years of retirement. Don’t mi...
Nov 09, 2022•39 min•Ep. 460
If the bear market and inflation may have you worried, a bit of productive paranoia with a tinge of optimism may see you through. On this episode of Retirement Answer Man, we’ll discuss upcoming monthly themes, the next Retirement Plan Live case study, and ideas for new segments for the show. You’ll also hear answers to several listener questions. Today we’re putting our geek hats on to discuss commodity ETFs, perpetual withdrawal rates, single-pay annuities, and how to mix compounding with grow...
Nov 02, 2022•39 min•Ep. 459
If you don’t qualify for a Roth IRA you may be interested in using a backdoor Roth to utilize the advantages of a Roth IRA. One listener wonders about the rules for contributing to a backdoor Roth. Today, I’ll clear up his question and answer many more. Other listener questions in this episode cover using RMDs as QCDs, dealing with capital gains, and target date funds. Don’t miss out on discovering the answers to questions from listeners like you. Press play now to listen. Should we be optimists...
Oct 26, 2022•40 min•Ep. 458
Oct 21, 2022•15 min
The latest news in retirement is that Social Security recipients are getting a raise in 2023. While that is helpful for everyone receiving their benefits, what about those who choose to delay taking Social Security? A couple of listeners have been wondering if they, too, will get inflation adjustments if they wait to file for Social Security. We’ll have the answer to that question and many others as well as feedback from recent episodes. If you have been on the fence about whether or not you sho...
Oct 19, 2022•36 min•Ep. 457
If you are getting close to retirement you have probably been watching the financial news to help you stay up to date with what is going on in the world. If so, you won’t want to miss out on hearing why this is not a good idea. Today, I’ll also answer questions about bonds, charitable gifting, and how to find a financial advisor. Make sure to stick around until the end to hear about upcoming changes to Medicare with, Medicare expert, Danielle Roberts from Boomer Benefits . Keeping up with the ne...
Oct 12, 2022•49 min•Ep. 456
RMD tables, bond classes, international exposure, and 1099s–we’ve got answers to your questions. First up is which account is best to begin drawing from in retirement. Listen to these answers to listener questions and take some time to reflect with me about how too much data can inhibit our ability to make good decisions. Press play to listen. Too much data can hinder your decision-making process There comes a point where more information doesn’t help you make decisions, it can actually hurt you...
Oct 05, 2022•41 min•Ep. 455
Many people choose to save money for their kids and grandkids in a 529 account, but one listener wonders if there is a better way to give. Learn the answer to this question and more on this episode of the Retirement Answer Man show. Make sure to stick around until the end to hear the Coach’s Corner segment with Kevin Lyles. Kevin and I discuss growth and accepting challenges in retirement. Find out why it is so important to continue to challenge yourself in retirement. What is the best way to sa...
Sep 28, 2022•36 min•Ep. 454
Life is about events, the challenges we overcome or not, our successes and failures, but, even more, it’s about how we touch and are touched by the people we meet. Nicole is back! She is here this week to help me answer your listener questions. In this episode, we discuss the challenges of making friends in retirement, the value of international diversification, contributing to a Roth 401K vs. a regular 401K, the 4% rule, and much more. I created the Retirement Answer Man show to help you, not j...
Sep 21, 2022•43 min•Ep. 453
We’re back again answering your retirement questions! On the docket for today are questions like whether should you consider taking on a mortgage in retirement, whether it’s feasible to hold only ESG investments in retirement, and if you need life insurance in retirement. In addition to answering these listener questions, I’ll also share several book suggestions that I got in response to the 6-Shot Saturday newsletter and reflect on insights I learned from my time in Colorado. Don’t miss out on ...
Sep 14, 2022•49 min•Ep. 452
Are you nearing retirement and wondering how you should pay for large out-of-pocket expenses? Should you dip into your emergency fund, take from your retirement savings, or is there another way? We’ll consider this question, hear how Larry is living intentionally, learn how visual aids can help when trying to discuss finances with elderly parents, and discuss dollar cost averaging a lump sum payment on this episode of Retirement Answer Man. All month we’ll be answering your questions. If you hav...
Sep 07, 2022•36 min•Ep. 451
Michael Balchan from Heroic and I have been discussing how to live a heroic retirement for the last several episodes. Today, we wrap up this theme and learn to integrate the subjects we have discussed in the past 4 episodes into rocking retirement. As usual, after the main theme, I’ll answer your listener's questions. If you have a question that you would like answered on the show, now is a good time to ask since next month we’ll focus solely on answering your questions. You can submit your ques...
Aug 31, 2022•38 min•Ep. 450
