In the news today, credit card debt has reached over 1 Trillion dollars. In addition, we have 1.2 Trillion dollars in auto debt, 13% above the previous record. Impulse shopping is easier than ever, and this can be bad news for your retirement! On this episode of The Retirement Answer Man Podcast, I talk about spending and some safeguards you can put in place so that you don’t overspend on things you don’t need and may not even really want. Listen in and learn to differentiate between needs and w...
Aug 30, 2017•41 min•Ep. 185
Passive investment management has taken over the world. Nine of the top ten mutual funds are based on passive investing. On this episode, I explain what passive investing is and how it works, the top two indices that most funds are based on, and the advantages and disadvantages of investing based on those indices. I also take some time today in the Practical Planning Segment to answer listener questions. Listen in to expand your understanding of passive investing and hear answers to questions th...
Aug 23, 2017•35 min•Ep. 184
Pre-tirement is that phase between full-time work and what we think of as traditional retirement, and it could be the key to you having a great retirement. Traditional retirement planning that focuses only on investing just doesn’t work. It doesn’t inspire much confidence or clarity about what your future could be. On this episode, I explain the advantages of pre-tirement and give you some ideas to get you started thinking about it. Listen in to learn why you should consider pre-tirement before ...
Aug 16, 2017•40 min•Ep. 183
If you want a great retirement, you don’t need better answers, you need better questions. Pretty much everyone in financial advice and the media want us to stay with tactical questions like “How should I allocate my investment account?” “Are interest rates going to go up soon?” and “Am I saving enough?” These tactical questions are like tools in a toolbox that can’t be used well until after you decide what you are building! On today’s episode, I’m going to suggest some better questions that will...
Aug 09, 2017•26 min•Ep. 182
The top financial stress in America, according to a Gallup poll, is not having enough money for retirement. Some people choose to ignore it to avoid the stress, but for others, the worry is a motivator to be proactive and get moving in the right direction. In this podcast interview with Emily Guy Berkin, we will discuss why there is so much financial stress, how to get a better understanding of your relationship with money, and specific steps you can take to decrease your stress about money. Lis...
Aug 02, 2017•30 min•Ep. 181
Have you ever considered that it might be advantageous to retire overseas? Where your home will be when you retire can dramatically change what the landscape might look like financially. There is a growing trend of Americans retiring outside of the country. Should you be one of them? That’s the topic of today’s episode and interview with Keith & Tina Paul, who are retired and living in Cuenca, Ecuador. Listen in to get a glimpse of what it is like to retire overseas and find out how you can ...
Jul 26, 2017•36 min•Ep. 180
Do you want to have a great retirement? Make sure you value the right things. It is possible to make a million dollars and feel poor, or to make $60K and live a rich and full life. On today’s episode, Jason Parker joins me to talk about how to calculate your retirement spending and make wise choices that will benefit you long-term in your retirement years. Listen in to learn about the new software tool that Jason has developed that helps with this process and to find out how you can get started ...
Jul 19, 2017•35 min•Ep. 179
There is a lot of weird science out there when it comes to investment management. But if we’re going to be successful in investing for retirement, we need sound science. Last time we talked about asset allocation for the flexible portion of your portfolio. Today we’re going to talk about the science behind the fixed portion. Index-based investing is currently the popular way to manage this side of your investments. But remember, you want to “know what you own and know why you own it” (Peter Lync...
Jul 12, 2017•27 min•Ep. 178
David Booth once said, ““The important thing about an investment philosophy is that you have one.” But how many people who are actively planning for their retirement actually DO have one? You’d probably be surprised to know that much of the planning side of “retirement planning” is pretty haphazard. Even among investment advisors. But I've learned that it’s vital to know what your goals are and WHY you invest in certain types of investments so that you can know if what you’re investing in will g...
Jul 05, 2017•44 min•Ep. 177
“Learn the rules like a pro so you can break them like an artist” (Pablo Picasso). When I was taking a math refresher course for my certification, I had to memorize and practice calculating investment specific formulas. I have never had to use that skill again. But it did serve a purpose in giving me a greater appreciation for the rules as well as an understanding of where those rules are useful and where they are not. It’s important to understand the rules. In this episode on the role of asset ...
Jun 28, 2017•37 min•Ep. 176
What you base your assumptions on when it comes to market forecasting and retirement planning will determine the course of action you take. Forecasting typically comes from respected “experts” who we all look to for advice, but here’s the problem: None of them are 100% accurate. In fact, even with all their knowledge and experience, they are often way off in what they predict. How can you plan for retirement when you don’t know which market forecast to rely on? That’s the topic of this episode o...
Jun 21, 2017•27 min•Ep. 175
Part of my job as the Retirement Answer Man is to help you face the current issues that impact your retirement planning decisions. Part of that is the non-glamorous task of assessing the traditional approaches to retirement planning to see if they still work. So on this episode, I’m going to take a fairly deep dive into the institutional approach to asset allocation that has been the basis for retirement planning for many years - and I think once you understand the premise behind it, you’ll see ...
Jun 14, 2017•30 min•Ep. 174
Get ready for part three of our Retirement Investing series. On this week’s episode of the Retirement Answer Man, we’ll talk about risk management, types of risk to watch out for, and why the common approach to managing risk might not be a good fit for you. This one will be a lot more technical than our previous two shows, so get ready to get your geek on! You can’t get something from Nothing As my mother always said, “You can’t get something from nothing.” This rings true especially in the worl...
Jun 07, 2017•37 min•Ep. 173
Hello everyone and welcome once again to the Retirement Answer Man Show, I am your host Roger Whitney and I am the Retirement Answer Man. This show is part 2 in our series on investing. Today we will look at why maintaining a strong investment foundation is so important as you enter retirement and what steps you can take to build it. We’ll walk through three major types of investments, their average returns and how inflation can affect them. It may have more of an impact than you realize. Keep l...
May 31, 2017•38 min•Ep. 172
Welcome back to the Retirement Answer Man show. Today begins a new series on Investing. I am very excited about being able to offer you this series and I hope you will find some value that fits your situation. In this week’s episode, we are chatting with a great guy, David Stein. He has many years of experience in the financial investing world and has seen it all. Today he shares some simple advice to help you not gamble away your retirement but rather approach your investing with clarity and co...
May 24, 2017•40 min•Ep. 171
Welcome back to the Retirement Answer Man Podcast. My name is Roger Whitney and I am the Retirement Answer Man. On this week’s episode, I will be answering several listener questions about dementia, HSA’s, and next level investing. I’ll also outline the road to “brokesville” so that you can steer clear of catastrophe in your retirement planning. Come along with me as we discuss how to learn from your mistakes to create a great retirement. Stay tuned to this episode to hear it all! The Road to “B...
May 17, 2017•38 min•Ep. 170
I love being an entrepreneur! Not only does it give me an avenue to exercise my creativity it gives me the flexibility to live the life I desire, work the way I want to work, and build a legacy for my family. The value of your business can be put into three categories: Cash flow, Lifestyle, and Enterprise value. On this week’s episode of the Retirement Answer Man, we will be talking with my special guest Randy Long about building your business in a way that grown its enterprise value. Having a s...
May 10, 2017•35 min•Ep. 169
Hello everyone and welcome! I am Roger Whitney the Retirement Answer Man and today on the show we are talking about the Healthcare Dragon and the threat that it poses to your retirement as well as the lives of your family. It’s no surprise to hear that health care costs are rising, each year this beast continues to grow and unless you do something to combat it now, you might be in for a rough retirement. Tune into this episode to get some actionable tips to arm yourself against the Healthcare Dr...
May 03, 2017•36 min•Ep. 168
Welcome to another episode of the Retirement Answer man, as always I am Roger Whitney the retirement answer man. This week's show is a hodgepodge of great actionable content that might give you the edge you need in your retirement plan. We’ll discuss why alcohol abuse is a problem for many people in retirement and lay out the reasons why. Listen as I answer listener questions and give my tips for investing your Social Security income. Stay tuned to hear it all! Alcohol abuse is a huge problem in...
Apr 26, 2017•34 min•Ep. 167
After my last knee surgery, my doctor told me that I should NEVER AGAIN attempt to run like I have previously. That’s when it hit me, my best days physically are behind me. That was a sobering thought and a bit depressing. Thinking like this has a tendency to affect how we live and can very easily seep into every aspect of life; it could affect how I relate to my family, do my job, or how I view retirement planning. When it comes to retirement...are our best days behind us? Are we approaching a ...
Apr 19, 2017•37 min•Ep. 166
Welcome to another episode of the Retirement Answer Man podcast. I am Roger Whitney the Retirement Answer Man and this weeks' topic is all about working during retirement. We all can agree that saving and investing are important but they often prove to be challenging. I believe there is another option a more fulfilling one. Work. On this episode, we will talk with Marc Miller, an author, and coach, about how we can structure our retirement to be both fulfilling and productive - and avoid the so-...
Apr 12, 2017•37 min•Ep. 165
Last week I got a call from a good friend. His sister-in-law believes her financial advisor has been stealing from her. I offered to help them get to the bottom of this and figure out what exactly what has been happening. Investment risk is a very real threat in today’s world. Scam artists are everywhere and many of them are very good at appearing legitimate. There are several ways to research a potential investment or adviser that will give you insight into whether or not they are trustworthy. ...
Apr 11, 2017•40 min•Ep. 164
The election of President Trump was unexpected, and there is no denying that it has affected the markets. But instead of a crash, we are seeing all time highs. Since the election, the market has been accelerating like never before until last week when we saw it slow down. This begs the question, Will the Trump bump Become the Trump Dump? In this episode, I seek the opinions of two of my favorite people, Joe Saul-Sehy of Stacking Benjamins and Burt White of LPL Financial. They will tell us what t...
Mar 29, 2017•37 min•Ep. 163
Welcome back to the Retirement Answer Man Show. I’m Roger Whitney and I’m sad to say it, but Retirement Planning is broken! The mainstream retirement planning method that has worked for years is falling short in our modern world. It is frustrating, disappointing, and fails to give you the leverage you need to create a great retirement. In this episode, we will dive into the good, the bad, and the ugly of modern retirement planning and you will see why it no longer offers an empowering course of ...
Mar 22, 2017•34 min•Ep. 162
We all have heard the term living simply and possibly associate it with a minimalistic lifestyle. Is there a way we can take the concepts of simple living and apply that to our retirement plan without compromising what is important to us? On this episode of the Retirement Answer Man, we will look at the costs of a large lifestyle and the benefits of simplifying. We all know that a larger house costs more, not only up front but also in the day to day maintenance. Not only that but it is human nat...
Mar 15, 2017•24 min•Ep. 161
Welcome back to the Retirement Answer Man show. I am Roger Whitney and I’m so excited to have you with me. Today we will be talking about certainty in retirement and how it is, in fact, absurd! The only thing that is certain in life is uncertainty. No matter how hard we try to plan for the future we can never be 100% certain things will turn out the way we’ve hoped. Things will go wrong and we have to find a way to deal with uncertainty. If you follow the guidelines I lay out in this episode, yo...
Mar 08, 2017•41 min•Ep. 160
Hey, there, and welcome back to the Retirement Answer Man show. I’m Roger Whitney and I am THE Retirement Answer Man. This week’s show is all about Net Worth. Today I answer several listener questions regarding net worth statements. I also offer a caution about the dangers of comparisons in your retirement planning and how they can ruin your well-made plans. I’ll help you set your focus where it should be so that even though you can’t fully avoid comparisons, you can assure they will have minima...
Mar 01, 2017•31 min•Ep. 159
Hey, hey - it’s great to have you along for another episode of The Retirement Answer Man. I’m Roger Whitney and I am THE Retirement Answer Man. This episode of the show is all about how the habit of binary thinking can derail your retirement planning goals. What is binary thinking? I’m glad you asked! On this episode, I’m going to walk you through a couple of examples of binary thinking, including one I experienced with a friend of mine in years past, to show you exactly what it is and how it ca...
Feb 22, 2017•32 min•Ep. 158
Well, here we are - at session number three of Kim and Joe’s 2017 Retirement Plan LIVE experience. Today we reach the topic nobody enjoys talking about but that we HAVE to talk about anyway: Retirement Risks. There are many things we need to consider on this episode of the Retirement Answer Man in order to think about retirement realistically and Kim does an amazing job of thinking soberly about the risks that she and Joe will face when they reach retirement. Our goal is to assess them and then ...
Feb 15, 2017•38 min•Ep. 157
Planning for retirement will be next to impossible if you don’t have some sort of barometer of your financial situation - and that’s why I always create a personal net worth statement with my clients to have a starting point for retirement planning. On this episode - the 2nd in the 2017 Retirement Plan LIVE sessions - I’m talking with Kim about her and her husband’s financial status, and you’ll hear us go item by item through their financial situation to build their net worth statement. It’s the...
Feb 08, 2017•46 min•Ep. 156
