Despite what the media and some financial advisors tell us, preparing for retirement isn't about fancy strategies or the best investment. This week listener "Rick" shares his story of how he became a 401(k) millionaire by using a simple but powerful strategy. "Rick" was the first listener to share his story. Rick isn't his real name and in order to present you a better image of who he is, I asked him what his financial "spirit animal" was. After an awkward pause he replied tortoise and after hea...
May 03, 2015•36 min•Ep. 64
There are plenty of people around today that will offer their services as a “life coach” or “business coach.” Few have the demonstrated history of success as businessman, family man and friend to man as Aaron Walker. Register for May 26th's Webinar: How to Manage Cash Flow in Retirement Click Here to Register In this episode, Aaron shares his Journey Towards Retirement. Below are some notable quotes from our talk. Aaron Walker's Journey to Retirement What Does Retirement Means to You? “I won’t e...
May 01, 2015•35 min•Ep. 63
At the end of day, all that matters is what retirement means to you. Forget what the commercials say. Forget what the brochures say. Forget much of what your advisor may say. You don't have a "number", you have a life that you get to define and live. This week, I'm starting a new series called Retirement to Me, where you, the listener, get to share the lessons you've learned along your journey and what retirement means to you. Your Story is Important. Each of you have unique experiences, knowled...
Apr 22, 2015•35 min•Ep. 62
If you want to retire and are looking for guidance don't just find someone smart. There are plenty of smart advisors with plenty of smart ideas. It's been my experience that smart by itself, isn't enough. If you want to retire successfully, it's better to seek out wisdom. "It ain't what you don't know that gets you into trouble. It's what you know that just ain't so." In this episode, I discuss some of the value a wise advisor can bring to your financial life. Including: Finding blindspots in yo...
Apr 16, 2015•40 min•Ep. 61
If you work for a company you're a cog in the machine. You're a replaceable part, easily eliminated or replaced if it suits the needs of the company. Sorry to be so blunt. I'm not trying to hurt your feelings. It's just important you accept this if you're going to thrive in the years ahead. Marc Miller is the founder of Career Pivot , which helps Baby Boomers design careers they can grow into for the next 30 years. Miller authored the book “ Repurpose Your Career: A Practical Guide for Baby Boom...
Apr 09, 2015•44 min•Ep. 60
Most of the personal finance blogs you read focus on how to be more frugal. How to cut costs so you can safe and invest for retirement. it's important to be frugal but frugal only goes so far. I've invited Paula Pant from Afford Anything to chat about frugality and what might be a better place to focus your time if you're saving for retirement. Paula, is a thirtysomething that has chosen a unique path for her life. She's rejected the "normal" work path baby boomers learned and has embraced the o...
Apr 02, 2015•49 min•Ep. 59
Just because Bill & Sally can't achieve their ideal retirement, doesn't mean they can have a great retirement. In this episode, we'll discuss: Why it's okay to not be able to achieve an ideal retirement Common ways to adjust your retirement plan Uncommon ways to adjust your plan How to gauge how much investment risk to take during retirement Preview tomorrow's webinar results show How to Access Tomorrow's Free Webinar If you've signed up to plan alongside Bill and Sally, you'll receive an e-...
Mar 25, 2015•25 min•Ep. 58
Yeah, you read that right. Bill and Sally cannot achieve their ideal retirement. That really sucks....or does it??? Remember in episode 55 , when I outlined Bill and Sally's ideal retirement? I said "too many people are being too reasonable when setting their retirement goals" and challenged you to think BIG about yours. Well, that's what Bill and Sally did. The fact that they can't achieve their ideal demonstrates that they did it right. They thought BIG about what their life could be. Now that...
Mar 18, 2015•39 min•Ep. 57
If you asked me what was the most important item you should do to track your financial health I would tell you to track your net worth. A net worth statement is the most powerful tool you can use to track your financial progress over time. This simple one page document represents the sum of all your financial decisions over time. There's no hiding with good intentions on a net worth statement. Ultimately, I think, it reflects what you value most. Organizing Your Financial Resources Now that Bill...
Mar 11, 2015•44 min•Ep. 56
Too many people are being too reasonable when setting their retirement goals. STOP! When you start your planning for retirement it is critical that you think big. There's time enough later to be reasonable. Right now, focus on what your ideal life would look like....what would your life be if you could "have it all"? I know, thinking big about your future, is much harder than it seems, especially when it comes to retirement. That okay, I'll help you snap out of it. Dream Up Your Ideal Retirement...
Mar 04, 2015•35 min•Ep. 55
Want to retire a year earlier? Maybe have a bigger lifestyle budget for travel? You might be able to if you change your relationship with your car. "According to Edmunds.com, the average monthly payment on a new vehicle is $479. Considering your existing car is trouble-free, saving that $479 per month means an annual savings of $5,748 by postponing the purchase of a new vehicle" ( bankrate.com ). In this episode I talk with James Kinson from Cash Car Convert . James is on a mission to change how...
Feb 25, 2015•46 min•Ep. 54
Okay, you're planning for retirement, but what exactly are you planning for? I don't think most of us think about this. We work and save and work and save, but spend little time figuring out what we'll actually do when we retire. In this episode, I interview Tom Schwab of Goodbye Crutches and Inbound for eCommerce . Tom is a great example of someone that overcame a potentially devastating business set back to build a build a business that he can enjoy well into retirement. There are a lot of gre...
Feb 18, 2015•42 min•Ep. 53
I'm still amazed at the level of engagement and transparency "Carl" has had throughout the process of creating his retirement plan on the show. I'm just as amazed at how much the series has resonated with you, the listener. Your questions, comments, suggestions and thank you's made the series better. In this episode, you'll get to hear directly from Carl and Jane as we discuss the Can Carl series, retirement, planning, investing and where they go from here. Recently, while on a business trip, I ...
Feb 11, 2015•33 min•Ep. 52
WOW, your response to the Can Carl Retire? series in January and last Friday's results webinar were off the charts. I received so many kind comment and sharp questions from you. In today's episode, I'll answer a portion of your questions and will work to get to the rest of them in next week's episode. Please keep them coming. If you're wondering, no doubt thousands of others are too. Want to Watch the Webinar Replay? The webinar replay will remain available until Sunday, February 8th (11:59 pm)....
Feb 04, 2015•38 min•Ep. 51
Don't Skip This Step! Sign Up for Friday's Webniar Here One of the most heartbreaking things I've seen over 24 years advising families is a surviving spouse or family member dealing with an unorganized estate. Not having your affairs in order, puts a huge burden on your family and compounds the stress of there loss. According to a recent survey, 61% of people don't have a will. Even those that have a will, have failed to organize their financial information to make it easy for their loved ones t...
Jan 27, 2015•24 min•Ep. 50
Risks can rob you from living a great life. Focus too much on them and you can miss out on a full life. Ignore risks and you can destroy your family's financial security. If you've started planning for retirement, you're probably overwhelmed with all the things you should worry about. This week, we'll address, head on, some of the biggest risks during retirement and help you assess how to handle them. Important Note: If you haven't listened to step 1 or 2 of Carl's Plan you'll want to start ther...
Jan 20, 2015•45 min•Ep. 49
Well, Were You Able to Dream Up Your Ideal Retirement? It can be hard to think big. Hopefully, you stretched yourself. No worries, if you're not finished. Your life is always a work in progress. Important Note: Sign up late? If you'd like the resources from week one, replay and let me know. This week, you'll focus on identifying and organizing your financial resources. In this step you'll create a clear snapshot of your current financial situation. This is a critical step. Don't get bogged down ...
Jan 14, 2015•40 min•Ep. 48
Are you ready to dream up your IDEAL retirement? This is week one of the Can Carl Retire? virtual retirement planning event. If you signed up for the free resources, you should an e-mail with all the items you need to complete this first important step. Haven't signed up yet??? No worries, there's still time. Click here and learn how you can plan along with us. Dream Up Your Ideal Retirement In this episode, you'll listen is as I help Carl clearly defines his IDEAL retirement. This is the week y...
Jan 04, 2015•43 min•Ep. 47
It's New Year's Eve and I've got two important items to help you create a great year in 2015. So let's get to it. Item 1 Get Your Retirement On Track Starting January 7th, I'll be creating a retirement plan for a listener, "Carl", of the Retirement Answer Man Podcast ON THE SHOW. The best part is, you can plan along with Carl and I!!! Click here to find out all the details. Item 2 Start Making Your Dream a Reality (with Lady J) Tonight a special lady, Jevonnah Ellison, is hosting her book launch...
Dec 31, 2014•25 min•Ep. 46
One of the most common comments I get from readers is how hard it is to get straight answers to their most important retirement planning questions. "When can I retire?" "What lifestyle can I expect?" "Will I run out of money?" What am I missing???" Starting January 7th, I'll answer these questions for a fellow reader (Carl). You'll get to listen in as we create his retirement plan each week, culminating in a LIVE webinar where you (and Carl) will hear the results for the first time. NOTE: check ...
Dec 29, 2014•15 min•Ep. 45
"Why won't someone give me a straight answer?" This is the comment I get most from listeners trying to find answers to their most pressing retirement planning questions. In 2015, I'm stepping up my game to help you find the answers to your most pressing retirement planning questions. Announcing Retirement Plan Live Want to find the answers to the most common retirement planning questions? Can I retire? What the risk is that I'll run out of money? What lifestyle can I expect during retirement? Wh...
Dec 24, 2014•38 min•Ep. 44
Seriously, does watching the market and comparing your investment performance to some benchmark help you create a great life??? Of course it doesn't. So stop. Stop worrying about "keeping up with the market" and get down to the important work of creating a great life. INVEST WISELY Segment If you are investing without trying to achieve some greater goal, you're setting yourself up for disappointment. Comparative investing is a losers game. It can: create a never good enough mindset cause you to ...
Dec 17, 2014•36 min•Ep. 43
Yeah, there are lots of articles this time of year talking about year-end tasks to complete, but mine are Super Simple ones. Okay...maybe it's just my way of trying to sound different. Still, these ARE 7 relatively simple tasks that could make a big difference in your financial life (so indulge me). Invest Wisely When Should I Rebalance My Portfolio? Today I read an article on market watch titled " The Hidden Truth About Rebalancing Your Portfolio " on marketwatch. The article discussed a recent...
Dec 10, 2014•36 min•Ep. 42
You'd think that with all the great information and tools available today that making smart money choices would be easy. The fact is, it's harder than ever before. We live in a world designed to get us to "buy now" or "avoid that". These messages are designed by savvy marketers to get us to take action. Take action, when most of the time, doing nothing is the best course to take. Recently I fell pray to one of these "buy now" messages and made a really poor money choice. Two weeks ago, I was in ...
Dec 03, 2014•28 min•Ep. 41
Working towards retirement can feel like rafting a river full of dangerous rapids. As you flow down the river of your life, your constantly having to navigate events that threaten to turn your life upside down. Unemployment, death, divorce, college costs, healthcare, recessions, corrections, inflation and countless others can put you on the rocks. This week, I discuss how to "self rescue" if the rapids of life put you into the water. INVEST WISELY The Folklore of Finance: Beliefs That Contribute...
Nov 19, 2014•33 min•Ep. 40
If you're working towards retirement you know that investing wisely is a key part of reaching your goals. The problem is, investing means putting your money at risk. That's stressful. As a result, many of us tell ourselves lies or believe "trues" that can be dangerous to our financial future. In this episode, I'll discuss 7 lies we tell ourselves about investing and how to avoid them. INVEST WISELY The 7 Lies We Tell Ourselves About Investing There is too much uncertainty right now to invest I'm...
Nov 13, 2014•28 min•Ep. 39
I'm convinced that the most stressful part of planning for and living in retirement is that we don't know how to balance living well today, while not sacrificing tomorrow. As a result, most of us live out of balance. Some of us are so worried about tomorrow that they sacrifice their current life in order to be "prudent". Others "live for the day", assuming without a thought for their future. both are wrong. In this episode, I talk about my #1 retirement planning tool to help other find this deli...
Nov 05, 2014•32 min•Ep. 38
Is your soul on fire? Too many of us live in a prison within our mind. We are trapped by our past choices, not realizing that today, right now, we can start a new journey. If you feel stuck, you can create a new life. You can ignite your soul and live your own hero's journey. Invest Wisely You'll Never Get the Average One of the biggest roadblocks to setting good expectations about investing is focusing on average returns. We financial planners are the biggest abusers of this. No one get's avera...
Oct 28, 2014•46 min•Ep. 37
You don't like to lose money. Nobody does. That's one reason it is so hard to stick to a long-term investment plan when we feel like we're getting punched in the face by the markets. Just like a boxer, it's natural to want step back and protect ourselves. This natural reaction, however, has caused most investors to underperform the very assets they invest in. In this episode, I discuss 7 steps to help you fight through a normal market correction. Invest Wisely: 7 Steps to Fighting Through a Mark...
Oct 20, 2014•49 min•Ep. 36
It's natural to fear a market correction. Losing money (even if on paper) sucks. News reports, act as if market corrections are bad. That's not true. The economy and the markets don't function well without corrections. Just as there are benefits to a forest fire, a market correction is an essential element of a strong economy and market. Invest Wisely 4 Benefits of a Forest Fire and Market Correction Are we headed for a market correction? Last week the S&P 500 was down 3.4%. It's been over 3...
Oct 12, 2014•49 min•Ep. 35
