Retirement Answer Man Show show

Retirement Answer Man Show

Summary: This is NOT another personal finance show focused only on saving and investing. It’s about making the most of your life today and in retirement. Retirement isn’t an age OR a financial number. It’s finding that balance between living well today and feeling confident about your retirement. It’s about gaining more freedom to pursue the life you want. In each episode, Roger unpacks topics like investing, insurance, IRAs , pensions, healthcare expenses, building wealth, creating income, being happy, and much more. Roger Whitney shares practical wisdom on retirement planning learned over 26 years as a financial planner walking life with clients into retirement. Head over to to learn more and sign up for the free Retirement Learning Center. An online resource full of checklists you can use to work towards your ideal retirement.

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  • Artist: Roger Whitney, CFP®, CIMA®, CPWA®, AIF® | A personal finance show on retirement, money, investing and wealth
  • Copyright: Roger Whitney, 2016


 #126: Here’s to the Future: How Technology Will Change Your Retirement | File Type: audio/mpeg | Duration: 41:57

It seems funny to think about but those old Jetsons cartoons from the 1960s and 1970s are actually becoming more and more reality in the present day. More and more opportunity and concern is arising from the advances in technology that we see happening around us. I believe that many of these advances can be used to maximize our lives during retirement, giving us a happier and more comfortable life in those years when most people think of life winding down. For the next few episodes of The Retirement Answer Man I’ll be chatting about some of those technological advances and giving you thoughts about how you can take advantage of them to make your retirement the best it can be. What the HECK is the Internet of Things? Have you heard the term, “Internet of Things?” It’s a phrase that’s used these days to talk about many of the technological devices that are created to work together through computer networks to do all kinds of convenient and helpful things – from turning on your lights automatically, to adjust the temperature in your home, to keeping an inventory of the items in your refrigerator. It may sound strange to think of your home being automated in that way but as you move into retirement, it may not be such a bad thing. On this episode I’m going to walk you through some of the ways those kinds of advances can benefit you, giving you a happier and safer retirement season. Samsung has invested $1.2 million in the Internet of Things. Why would such a large company invest such a huge amount of money into this “Internet of Things” thing? It’s because the IOT is truly the wave of the future. Things we use every day are becoming more and more interconnected (it’s like a television remote times 100) and the leadership of Samsung sees the potential for new products and services that will not only help the consumer but will also increase their bottom line. This episode of The Retirement Answer Man begins a short series focusing on the technological advances that will be a significant part of our retirement years, with a focus on the things that could give us greater security, mobility, and independence during those years. Is technology our friend or an enemy to be avoided? We’ve all seen those doomsday movies (Terminator, The Matrix) where technology has become “alive” and the machines have taken over the world. Those movies represent the fears that many of us feel about the path technological advances could take us – but it’s only one perception of what could occur. I tend to think there will be many more benefits to the rise of technology than we are even able to imagine… and that there’s no reason to be afraid. On this episode I begin a series of episodes highlighting some of the ways I see the advances in technology that are happening all around us becoming a benefit to us in the retirement years ahead. You might be surprised at some of the things that already exist and the ease with which they could help you maintain mobility, independence, and personal safety as you age. Interested? Be sure to listen. Today’s S.M.A.R.T. Sprint: Try out at least one automated service. As human beings we often become afraid as the comfort of what we know is disrupted by change. But if we never change then we never grow – and I for one don’t want to stop growing. On this episode of The Retirement Answer Man I describe many automated services or products that improve the quality of life of their users and could be of great benefit to retirees. My challenge today is for you to choose one of the services or products I mention and give it a try. I believe that as you experience the benefits of some of these services or products for yourself,

 #125 – 5 Things You Should Do in a Post-BREXIT World for Your Retirement | File Type: audio/mpeg | Duration: 55:06

Hey, it’s me, Roger Whitney – the Retirement Answer Man – and I’m here to help you not only plan for a happy and healthy retirement season but also to live a happier and healthier life now as you move toward retirement. On this episode we’re going to tackle the volatility in the markets as a result of the news that Great Britain has voted to leave the European Union.There are many things to consider having to do with lifestyle, investing, and retirement planning that you need to think through, and I’m going to help you do that on this episode of The Retirement Answer Man podcast. BREXIT is in the news. A surprise vote that has turned the markets on their heads (if markets had heads). As you probably know, the United Kingdom’s vote to leave the European Union was a surprise to almost everyone. Even the betting pools got this one wrong. And if there’s one thing the markets hate – no, they despise – it’s surprises of this nature. That’s why everything is in turmoil and why the financial commentators can’t stop talking about it. So what does it mean for you and your retirement planning? That’s what really matters to me, so I want to address some of the things I see on the horizon because of this vote and help you think through the issues that could most impact you. Uncertainty may not sound like a financial term, but it impacts almost everything about financial planning. Almost everything that financial experts and prognosticators do for their clients is aimed at culling uncertainty from their investment strategies. I think we can all understand that – we all want to know for sure that something good is coming our way – but the sad truth is that it simply doesn’t work that way. In light of that fact how should we view the issue of uncertainty in financial and retirement planning? I’m going to take on that subject on this episode to enable you to make wiser decisions with your overall investment and retirement planning strategy, on this episode. In light of the uncertainty in the financial markets here are 5 things you can do to maximize your own retirement. BREXIT is just one example of the kind of things that can happen to throw the financial markets into a tizzy at any moment. It’s those kinds of things that get us thinking seriously about the security and stability of our retirement funds. But it’s not only our retirement finances that we should be thinking about, this kind of uncertainty can point us toward wise planning in other areas of our lives as well. On this episode I walk you through the basics of a presentation I recently gave that encourages you to implement some SMART sprints in your life – small steps that make big impact – to prepare for retirement more wisely even in the face of uncertainty. It pays more than ever to work part time during retirement. Most people retire because they are ready to be done with the 9 to 5 rat race that they’ve been about for the past 30 to 40 years. But keeping a part time job that fits your particular criteria is actually one of the most logical and powerful things you can do to fuel a happy retirement. That may sound counterintuitive but if you stick with me through this episode I’ll show you exactly what I mean. It’s on this episode of The Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:31] My introduction to this episode and the topics discussed. [1:30] How to get “6 Shot Saturday” from me. WHAT DOES THAT MEAN? SEGMENT [2:56] Today’s term, “Uncertainty.” [5:16] How uncertainty impacts your employment. [6:48] 90% of the financial industry capital is spent trying to avoid uncertainty. [7:31] Why your advisor needs to quit trying to give you perfect clarity and instead help you manage it. HOT TOPIC SEGMENT [10:16] The United Kingdom voted to leave the Eu...

 #124 – Why You Should Say YES More | File Type: audio/mpeg | Duration: 29:31

Today is a day to say “Yes” to something. I mean it. There are so many opportunities out there, so many experiences to enrich your life. What could happen if you took the time to say “yes” to one of those opportunities? You’ll only know if you do it. I’m so thankful you’ve joined me today. We’re going to cover some listener questions today about caring for a dependent adult child as retirement nears, combining retirement accounts, and taking distributions from retirement accounts when you’re blessed to retire before the normal retirement age. And of course, we’re going to talk about the power of saying, “yes.” The term, “Brexit” is in the news lately. What is that all about? You may have heard that the nation of Great Britain is considering a move away from the European Union, an economic affiliation of nations that use a shared currency, the Euro. The voters of Britain are set to vote this week as to whether their country will remain in the union. Today I’m going to cover a small bit of how this is impacting the markets and how I think we should all think about this event. That’s in my “What Does that Mean” and “Hot Topic” segments, so be sure to listen if you’re concerned about those issues (and even if you’re not). I’m nearing retirement and have a developmentally delayed adult son. How do you recommend I think of retirement in light of that responsibility? This real world question came from a listener to the Retirement Answer Man and I’m happy to give the answer my best shot. It’s a matter close to my heart because I once had a relative in the same situation, but it was back in the early to mid part of the previous century when people born with disabilities were often shuffled off to an insane asylum. But that’s not what happened in my family, I had a valiant grandmother who took on the responsibility of caring for that relative and it changed the lives of everyone in the family. I give my best, most heart-felt suggestions to this listener today and think there are some lessons to be learned for all of us regarding how we care of those we love even when we’re retired and beyond. Retiring before the legal age for retirement account withdrawals? What do you do? On today’s episode a listener asks what he can do to make withdrawals from his retirement accounts since he’s been blessed to retire before the age he can legally make withdrawals from those accounts. That’s a situation most of us have never even thought about. There are actually some legal ways to make withdrawals from retirement accounts in a situation like that, and I cover them on this episode. But I also throw another consideration into the mix and challenge this listener to evaluate the ways he can continue to add value to society and provide a greater amount of security for his retirement at the same time – all while remaining flexible and “retired” in ways that matter. Curious? Take some time to listen to this one. 5 benefits that come from saying, “Yes.” There are two schools of thought on the issue of saying yes to things. Some people feel that they say yes to far too many things, stressing themselves out and overloading their schedules. Others, out of fear, don’t say yes to enough things, cloistering themselves away in a self-protective shell. As retirement nears, either one of these could happen and it really depends on your personality and background as to which you might do. On this episode I briefly tell of some of the great experiences I’ve gotten by saying “Yes” to things that I might not have normally said yes to. I end up with a challenge you won’t want to miss, so be sure you listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] Welcome to this episode of The Retirement Answer Man. [1:04] How you can get in on my Six Shot Saturday email resource. WHAT DOES THAT MEAN? SEGMENT [2:24] Understanding “Brexit,

 #123 – How to Make the Most of Social Security with Emily Guy Birken | File Type: audio/mpeg | Duration: 23:10

For as long as I’ve been aware of Social Security there’s been concerned that there won’t be enough funds to support future retirees. Well here we are in 2016 and the Social Security system is going along as it always has. Today’s guest is an expert on the topic, which is why I’ve invited her to be a part of this show. Emily Guy Birken is going to help us understand the changes that have happened in Social Security recently, why we should not put all our eggs in the SS basket, and what we can expect from the system for the next 75 years. It’s all on this episode. The largest U.S. Pension fund cuts its retirees benefits. When something like that happens it’s enough to make anyone a bit skittish about whether their own retirement funds are safe or not. And for me, it’s a lesson in why each of us need to be a bit more proactive in creating our own retirement rather than waiting on someone else (like a pension fund) to do it for us. On this episode I tell you what I think about the defunding of a pension fund, how Social Security feeds into the concerns surrounding it, and how I would advise one of my clients to view the situation. I hope you take the time to listen. In the midst of writing a book about Social Security, the Social Security system changed. Emily Guy Birken had just finished her book about the Social Security system and sent it off to her publisher when the announcement came that some major changes were being made to the way the Social Security system works for beneficiaries. She had to recall the book, make the needed changes, then resubmit it – all in time for her deadline. On this episode you’re going to hear about that testy time in her book writing career, how Emily has come to be one of the foremost experts on the Social Security system, and why she recommends that nobody depend on Social Security as their sole source of retirement income. Isn’t Social Security there to help you retire comfortably? The operative word in that sentence is “help.” My guest on today’s episode says that Social Security was never created to be a sole source of income for anyone. Instead, it’s supposed to serve as a safety net, a small stipend to ensure that nobody is going hungry during their retirement years, but it’s far from something you could or even should depend on. Emily has lots of advice on what you should do in light of the small role Social Security really plays in the retirement of most people, on this episode of The Retirement Answer Man podcast. Are there more big changes ahead for Social Security? According to Emily Guy Birken, the answer is, “Definitely, Yes.” Emily says that SS has some very serious problems still, and the powers that be over the Social Security Administration have already announced the issues that will be on the chopping block within the next few years. Some of them will have a significant impact on the benefits and income of retirees, so we should expect that. The main problem is that we don’t know when the changes are slated, and the SSA is not telling. All the more reason to have more control and more diversification in your retirement strategy, and we’ll cover that on this episode of the podcast. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] My introduction to this great episode. HOT TOPIC SEGMENT [2:12] The largest U.S. Pension cuts retirement benefits. [3:54] What this news says to all of us who are in a pension fund. PRACTICAL PLANNING SEGMENT [4:26] My introduction to my guest, Emily Guy Birkin. [5:20] Emily’s struggle to write the book given recent changes in Social Security benefits. [7:17] The real purposes and uses of Social Security: a safety net. [11:07] Why changes in Social Security show us that we need to make other plans as well. [11:53] Things people do wrong when planning in light of Soci...

 #122 How the Wisdom of Chess Can Make You a Grandmaster of Investing With Doug Goldstein | File Type: audio/mpeg | Duration: 34:05

I invite you to engage with the audio on this page, for the sake of your future, your happy retirement, and your overall happiness in life. That’s because the Retirement Answer Man is not just about numbers and figures, it’s about building a life that you can be proud of and satisfied with once you do retire. On this episode I’m going to talk with a man who has spent a good deal of time alongside Chess Grandmasters to apply the lessons learned to their investment strategies. You’re going to get a fresh perspective – no doubt about that – so be sure you listen. What do YOU think you’ll miss most relating to work after you retire? That is a very interesting question, and one that was asked in a recent study and survey. Those who responded or not yet retired mentioned that one of the things they would miss, although a minor thing, would be the personal interactions with coworkers. By comparison, those who were actually retired already said that the personal interactions with co-workers was one of the things they missed most. What will it be for you? On this episode I give you a quick suggestion on how you can maximize relationships now, before you retire. Investment strategy is more than thinking ahead. How many people hear the words, “investment strategy” and immediately think of planning ahead? Doug Goldstein, today’s guest, says that investment strategy is much more than thinking ahead. It’s looking at the overall picture, not just the individual components that make it up. On this episode Doug shares insight he discovered when researching for his new book, “Rich As A King, “ a comparison of the game of chess to the act of investing. You are going to want to take notes on this one because Doug has some great things to share. Watch out for those things that initially look like great opportunities. There are many great investment opportunities out there. But many times the things that sound like great opportunities are nothing but a trap in disguise. Doug Goldstein discovered this as he was researching for his new book that compares chess-playing and chess strategy to the act of investing. many of the promises are there in the world of investing are like an opponent’s feigned “mistake” on the chessboard. It’s a ruse to get you to commit, then you get in trouble. Find out more of Doug’s insights on this episode. Have you signed up for my “Six Shot Saturday” list yet? Why not? Every Saturday I send out a brief email outlining some of the main resources I’ve discovered, used, or recommended over the past week, including many that I never mention on the Retirement Answer Man podcast. I also allow recipients of that email to respond to me directly with any questions or scenarios and I respond personally. If you’d like to get on my Six Shot Saturday email list, you can find out how to do it on this episode of the show. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:25] My welcome to you! Thanks for listening. [0:50] How you can get my “Six Shot Saturday” each week. [1:48] My mindset about the resources I share on this show. HOT TOPIC SEGMENT [3:53] A study asking people about what they will miss most after retiring. [4:45] The comparison between those respondents and actual retirees. THE HAPPY LAB [6:20] My personal experiment to build relationships. [9:01] The will to be uncomfortable for the sake of building relationships. WHAT DOES THAT MEAN? SEGMENT [9:35] What does “strategy” mean? PRACTICAL PLANNING SEGMENT [11:57] My introduction to Doug Goldstein. [15:25] Why strategy is more than thinking ahead. [18:25] Looking at the whole board is a powerful way to look at investing. [19:40] How chess mimics diversification and asset allocation.

 #121 – What You Should Know About Risk Management and Insurance | File Type: audio/mpeg | Duration: 35:40

Risk Management: It’s a boring topic most of the time, but not this time – I guarantee it! Welcome back to this episode of The Retirement Answer Man. I’m happy you’re here (I’m Roger Whitney, by the way). I hope that you’re ready for an important conversation today. And I mean that, it really is a vital conversation when it comes to safeguarding your assets and preparing you for retirement in a way that fits where you are at now and where you will be in the future. It has to do with risk management – which is the way in which you assess the amount of risk to your financial portfolio and life that exists, and what you’re going to do about it. Be sure you listen. This could save you thousands of dollars. What exactly IS Risk Management? The very term “risk management” sounds like an oxymoron. I mean, how can you really expect to manage all the risks that exist in life? When we talk about risk management we’re not saying that you can manage all the risks of life, what we ARE saying is that you should manage those that you ARE able to manage. So proper risk management begins with assessing what you actually have that is at risk in terms of assets – your financial portfolio, your health, your income, and other important things. On this episode we go deep into the subject but keep it at a level that you can easily digest, so make sure you stick around for this episode. Why I’m talking with an insurance agent about risk management. When it comes to managing the risk you have in terms of asset risk, you are either going to bear all of that risk yourself or you’re going to pay someone else to take on some of the risk. That’s where insurance, and a good insurance agent, comes into the picture. Today I’m chatting with Brian Certain. Brain is an experienced Allstate insurance agent in my neck of the woods and I haven’t met a person who’s a better resource for helping us understand this whole topic in layman’s terms. He brings it down to a level that anyone can understand on this episode so be sure you take the time to learn what you need to know about protecting your assets from the risks of life. You probably know that your insurance needs will change over time, but do you know why? Most of us understand that our insurance needs change as we go through life. For example, a married father of four needs a different type and amount of life insurance than a retired widower of 84. But there’s another reason insurance needs change that has to do with your assets. As you accumulate more and have more net worth in particular, you have more to lose if you were to be sued. That’s where having a great insurance agent in your corner is of paramount importance. Your insurance agent knows the details of risk management like nobody else, but also is able to help you assess your needs at the various stages of your life. On this episode we’re going to give you some great tips to help you assess whether your assets are adequately protected and the S.M.A.R.T. spring segment is going to give you a simple assignment that will help you take the first steps to making sure they are. Are you risking hundreds of thousands of dollars over $100 a month? On this episode of The Retirement Answer Man my guest is Brian Certain, an experienced insurance agent from the state of Texas. Brian said that he often hears people say something like this, “I don’t really like or trust my insurance agent but his price is $100 a month less than the closest competitor, so I stick with him.” Think about that reasoning for a minute as it relates to your homeowners insurance. Why are you willing to risk an investment of $200,000 or more for the sake of $100 a month by placing it into the hands of a guy you don’t trust? That doesn’t make much sense. You need an agent who you KNOW is giving you sound advice and on this episode we’re going to walk you through the “gotchas” you should look out for when dealing with...

 #120 – How to Use the Sharing Economy in Retirement | File Type: audio/mpeg | Duration: 39:08

It’s that time of the week again – time for another episode of The Retirement Answer Man featuring your very own Retirement Answer Man, Roger Whitney (that’s me). On this episode I’m going to introduce you to the concept of what is being called the “sharing economy” (in case you didn’t know what it was already), and give you some tips about how you can take the steps to utilize the various aspects of the sharing economy in your retirement years. I think you’re going to find this episode to be chock full of great, actionable stuff that you can use. So be sure you take the time to listen. The sharing economy is here. Are you willing to be a part of it? Do you know what the sharing economy is? It’s the idea that people with excess resources (like a spare room, an empty garage, or even an extra seat in your car) make those resources available to others who have a need for that resource on a temporary basis. I believe that there are many, many opportunities for those moving into their retirement years to supplement their retirement income and build a better life. If you’re curious what’s possible in your situation, you’ll be surprised by the things I chat about with my friend Glenn, from the Casual Capitalist. You could get income from things you already have that you’re not using. One of the big concerns for those who are moving into retirement is whether they will have adequate income for the expenses it will take to live a comfortable and happy life. Today’s episode is focused on ways that retirees can utilize the sharing economy to build new avenues of income using things they already own or possess. You could rent out your car, a spare room in your home, extra storage space, or even drive people around your area for a fee. You can find out about many of the opportunities out there on this episode of The Retirement Answer Man. The sharing economy could help you stay connected to people during retirement. While more and more Baby Boomers are working within the sharing economy to build their income, many of them are finding an unexpected benefit: they are enjoying the relationships they are having with people they serve. It’s a surprising way that many are keeping themselves engaged in society and out of their homes, avoiding the danger of becoming isolated and lonely. Today’s guest on The Retirement Answer Man is Glenn, from the Casual Capitalist and he’s got loads of great information to share about what the sharing economy is, how it works, and what you can do to get involved for the sake of increasing your income and even building new relationships during your retirement years. Interested? Be sure you listen. Would you like some simple, actionable retirement tips sent to your inbox every Saturday? I’ve recently put together a new offering that’s absolutely free, designed to help you discover ways to make the most out of your retirement years and build a great life even though you’re out of the workforce. The things I share are not shared anyplace else, so I encourage you to sign up for my “6 Shot Saturday” emails to get practical help every, single week. If that sounds of interest to you, go to and sign up today! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:28] Roger’s introduction to this episode. [0:46] The Retirement Answer Man has just broken the Top 10 in iTunes! [2:00] How you can get your 6-shot Saturday episodes. THE HAPPY LAB [3:26] What do you do when you haven’t been doing the things that bring you enjoyment. [5:15] THE CHALLENGE: Identify the things that make you happy and figure out how to do them. HOT TOPIC SEGMENT [5:38] How Baby Boomers are moving into the cities from the suburbs. [7:22] Why older folks are moving into the cities: My ideas. WHAT DOES THAT MEAN?

 #119 – What You Need to Know to Invest in Bonds | File Type: audio/mpeg | Duration: 43:08

Welcome back to another episode of The Retirement Answer Man podcast, I am Roger Whitney, your host. In a financial climate like the one we are currently living in, when interest rates are low, how should you think about those fixed-income investments in your portfolio such as bonds? On this episode of the show I am going to take a deep dive into bonds of various sorts the help you navigate the treacherous waters of fixed-income investing. One of the ways I’ve noticed that people are happier about their investing? When it comes to people who actually take the time to invest as they should there are two types of investors I have met over the years. The first are the ones who entrust their investing to an advisor and don’t bother to ask him out the details very much at all, and the second are people who have at least an elementary knowledge of their investment strategy and understand why they’re doing what they’re doing. In my experience the second group of people are the ones who tends to be happier overall and are actually a bit more successful in their investing as well. On this episode I want to encourage you to be this type of investor. Do you really understand what a bond is? Most people have at least an elementary understanding of what a bond is when it comes to government issued bonds. But did you know there are other types of bonds as well? And do you really know how bonds work? When this episode of the podcast I am taking a deep dive into the issue bonds and talk about why you should still invest in them when interest rates are so low as they are now, and how you should go about doing that in a wise and prudent manner. It’s all on this episode of The Retirement Answer Man podcast. The major risks of investing in fixed income investments (like bonds). Most financial advisors recommend that every investment portfolio contains fixed income investments, like bonds. But one of the more obvious risks to this kind of investment is that when interest rates are low they don’t typically get a very good return for the investor. On this episode of the podcast I’m going to walk you through some strategies that can help you mitigate those risks and feel better about the fixed-income investments in your own portfolio. It may not sound possible, but I assure you that it is. When is the last time you assessed your fixed income strategy? On every episode of The Retirement Answer Man podcast I walk you through what I call my “Smart Sprint” segment where you are encouraged to take small, actionable steps to advance your retirement goals. On this episode my challenge surrounds your fixed-income strategy and how you’re managing it in your current portfolio. It’s time to a set, it’s time to make those small adjustments that can make a big difference. I’m going to walk you through it on this episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:25] Roger’s intro to the show. THE HAPPY LAB [1:50] Those who are engaged in some way with their investment strategy and the “why” behind it tend to be happier. HOT TOPIC SEGMENT [3:10] The recent bad news from the FED, and whether rates will rise in June. [4:30] What’s the outlook on equity shares in light of this news? WHAT DOES THAT MEAN? SEGMENT [7:03] What exactly IS a bond? [7:50] The unique terms and structures related to bonds. PRACTICAL PLANNING SEGMENT [12:26] The major risks of investing in “fixed income” (bonds). [21:30] A listener question about cash “buckets” available for retirement. [25:00] The other possibilities for retirement “cash reserves.” [26:30] The wrong options for cash reserve strategies. [27:40] How can I invest in bonds when they don’t seem profitable?

 #118 – 3 Action Steps to Maximize Your Social Security Benefits. | File Type: audio/mpeg | Duration: 35:49

If you want to learn how to maximize both your preparation and enjoyment of retirement, you’ve found the best way to do that. It’s here on The Retirement Answer Man podcast. This episode is focused on a very important issue – understanding the Social Security system (which is no small task). I’ve got a great guest on the show today – Devin Carroll – who is one of the best sources of understanding on this issue of anyone I know and you’re going to get some very actionable things you can do to not only understand your Social Security benefits but also to make the most of them now and in the future. Do you worry too much? As we grow older we begin to move into a time of life where we naturally understand less and less about the world and the way things are going. It’s a time when worry can start to creep in and get the best of us. But worry is never, ever a good idea. In fact, it’s been shown to be one of the most detrimental internal behaviors. On this episode I’m going to lead you through a few questions to help you assess your level of worry and adopt a mindset to help you offload your worry and get into a healthier mental place. Ready? Let’s do it! Complexity can be the enemy of wise retirement planning. It befuddles me to no end when I see financial advisors come up with retirement plans that are hundreds of pages long. What in the world?!!! There’s no reason for a retirement plan to be that complex. Complexity is our enemy because it keeps us from looking at the simple, bare facts of a situation and taking correspondingly wise action. On this episode I’m going to show you how you can adopt a simpler, easier to understand approach to your retirement planning so that you not only understand what you should do to plan for retirement, but can actually do it. How to navigate the complex Social Security System. If you go to either of the Social Security websites you’ll find over 10,000 pages of content having to do with what the system is and how it works. Even experts on the system, like my guest today, Devin Carroll, have to refer back to those sites over and over in their lifetimes. On this episode Devin and I chat about the 3 most important things that you can do in order to make sure you’re getting the most out of your Social Security benefits. Talk about simplicity, this conversation is aimed at being exactly that! If you need help with your Social Security benefits, Devin’s the man! My friend Devin Carroll has devoted a good deal of his life to understanding the Social Security system and has positioned himself to help everyday Americans utilize the benefits of the SS system that was created for their benefit. If you have a Social Security related issue (disability, survivor benefits, or retirement benefits) that you need help with, I recommend you contact Devin and his team. You can find out how to do that on this episode of The Retirement Answer Man as we talk about 3 ways you can maximize your Social Security benefits. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:30] Roger’s introduction to this episode of the show. THE HAPPY LAB [2:24] The question of the day: “Do you worry too much?” [3:42] The power of “Cest La Vie” [4:22] The benefit of letting stuff roll off of you: saving your mental and emotional energy. HOT TOPIC SEGMENT [5:07] Warren Buffett’s annual shareholder meeting. [9:00] How Warren Buffett sees the manner in which Wall Street makes money. WHAT DOES THAT MEAN? SEGMENT [9:46] Today’s term: Complexity. PRACTICAL PLANNING SEGMENT [14:13] Roger’s conversation with Devin about maximizing Social Security. [15:45] Survivor benefits and disability benefits. [16:57] The process of getting qualified for Social Secu...

 #117 – How to Break Free and Live a Life True to YOU | File Type: audio/mpeg | Duration: 30:04

Retirement Planning is what this show is about, and I’m glad you’re here to be a part of the conversation. I’m Roger Whitney, The Retirement Answer Man and this is the show where I seek to guide you through my years of experience as a retirement planner into not only planning for the retirement of your dreams but toward living the life of your dreams now. On today’s episode I want to chat a bit about the #1 regret people have when they are coming to the end of their lives – and I want to do it so that you can think about the kind of life you’re living and make course corrections now so that you can be true to yourself. What does it mean to live a life that is true to yourself? Many people have dreams and desires when they are young about what they want to do and be through the course of their lives. But things come up – expectations, responsibilities, needs, tragedies, and the course of life gets reshaped over time. On this episode we’re going to look into the question of what it would mean to live a life true to who you are and discover some ways that you could be living to please others instead of living out the purpose for which you are on the planet. Sounds a bit deep, but trust me – it is a conversation that could reshape the way you think about retirement planning. Life is meant to be lived, not tiptoed through. It is vitally important in life to care about people. You might even say it’s the reason we’re on the planet in the first place. But sometimes caring out what people think of us and the things we are doing in life can lead us down a path of “people pleasing” instead of doing what we are meant to do. On this episode I’m going to dig into some of the expectations that are placed on us during the seasons of our lives and how each of them could prevent us from living out our true calling, if we’re not careful. I think you’ll have some great food for thought from this episode. Retirement Planning is all about positioning yourself to truly live. Many people approach retirement planning as a sort of exercise in fear-avoidance. They plan ahead to avoid the pitfalls and fears that could happen during the retirement years. That’s great, and well worth doing – but you’re being underserved if all you’re being advised to do is stockpile things so that you can be comfortable during your retirement years. I think it’s wise to approach retirement planning with a view to what you want to be doing in the later years of your life that will allow you to continue being a blessing and contributor to the world. When you have that kind of larger view, a world of possibilities open up. Do what you can to make some time to listen to this episode. You’ll be glad you did. Maybe, just maybe the economy is on the rise. Many companies are beginning to post their earnings right here after the first quarter of 2016, and 74% of them are posting gains. That’s good news for the American economy overall, but there are some very interesting things within those numbers that give a bit of concern. For example, for the first time in 9 years, Apple computer posted a loss for the first quarter with iPhone sales being down significantly. What does it mean for the economy? I’ve got some thoughts about it (as you might have guessed) and I’m going to share them with you on this episode of the podcast. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] Roger’s introduction to this episode and what you can get from “Six Shot Saturday.” THE “BE HAPPY” SEGMENT [2:43] The biggest regrets of those about to die: a summary. [4:35] Many people say, “I wish I’d lived true to myself, not what others expected.” [9:34] What are the expectations YOU are trying to live up to? [12:32] How retirement planning enables you to be true to yourself and the life you are meant to live. [14:50] The courage to let others be disappoint...

 #116 – 6 Mistakes You Need to Avoid in Retirement | File Type: audio/mpeg | Duration: 37:50

Are you ready to make the most of the life you have? I’m Roger Whitney and I’m here to help you do exactly that – not just for your retirement years, but for your entire life. On today’s show you’ll have the opportunity to dive into all kinds of good stuff, including my weekly happy lab, hot topics, practical planning tips, and the top 6 mistakes I’ve seen retirees make during their retirement years. You’ll get a lot of great tips from this episode so I hope you take time to listen. Why are you working so hard? I’m the last person to say that you shouldn’t work hard. Hard work is one of the hallmarks of living a responsible life. But it’s interesting to note that we often get out of balance when it comes to work. We invest too much of our identity and worth in what we do, to the exclusion of more important things. On this week’s Happy Lab, I’m going to give you a couple of suggestions about balancing that for the sake of your happiness – both now and in your retirement years. Being “present” is one of the greatest gifts you can give your family. If you’re going to make the most of your life now and in the future, you need to realize that one of the biggest components of the happy kind of life you want is the quality relationships that you develop over the course of your life. Naturally, that includes your family and the friends you meet along the way. It’s important, for the sake of those relationships, that you learn how to put down your smart phone, disconnect from work, and be present for the people who are closest to you. It’s a decision you have to make and stick to, and on today’s episode of The Retirement Answer Man, I’m going to give you some thoughts to ponder along that line. Why you need to learn from the mistakes of others – before you retire. We all make mistakes, and we should be learning from them when we do. But, as you near retirement, a lot more is riding on your making the right choices simply because you have less time to make up for the mistakes and adjust your course. On this episode, I outline the top 6 mistakes that I’ve seen retirees make over the course of my retirement planning career, in hopes that I can give you a heads-up about the pitfalls ahead so that you can adjust your mindset, prepare for what’s coming, and make wise decisions now, before you retire. Should you be maximizing your wealth? That may sound like a an odd question. Don’t we always want to maximize wealth? Prior to retirement, yes. But once you hit retirement your mindset needs to adjust. Retirement is the time of life that all your wealth maximization efforts were aimed toward. It’s the time for you to benefit from all those years. But it’s not an easy transition to make and the adjustment can be more than a little uncomfortable. On this episode’s Practical Planning segment, I’m going to walk you through this one and help you make some mental notes that will help you enter retirement with the right mindset and approach so that your retirement years can be some of your happiest yet. Should you ALWAYS be maximizing #wealth? The answer may surprise you OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:45] Welcome to this episode! THE HAPPY LAB [2:31] People about to die often wish they hadn’t worked so hard. Really? TODAY’S SMART SPRINT SEGMENT [6:16] The task of being “present” with those you are with (kids, spouse, etc.) HOT TOPIC SEGMENT [7:58] Jobless claims and the participation rate are improving. WHAT DOES THAT MEAN? SEGMENT [9:42] What are “Fund Flows?” [11:40] Understanding Fund Flows is important to understand for long term investors. [15:01] The Fund Flows of U.S. equity strategies over a 5 year period. PRACTICAL PLANNING SEGMENT

 #115 How to Decide Whether to Rollover Your 401(k) to an IRA | File Type: audio/mpeg | Duration: 33:00

Should I rollover my 401(k) to an IRA? Most advisors say yes, but it’s not always the best idea. In this episode, we share what you should consider to make the choice that’s right for you. Listen to the Audio   Happy Lab  Over the last few weeks we’ve been reviewing the top 5 regrets people have at the end of their life. Here’s the list so far; #5: I wish I had allowed myself to be happier #4: I wish I had stayed in touch with my friends And this week, #3: I wish I had shared my feelings more. S.M.A.R.T. Sprint  Stay connected with people you care about. In the next 7 days, call a friend you haven’t spoken to in awhile. What’s That Mean??  Style Drift. Why do you buy an investment strategy? The obvious question is to make us money. But one investment strategy is typically part of an overall portfolio that is designed to work together. Each piece of the portfolio (or asset allocation) has a role to play. Much like each contractor used to build a house does. The plumber puts in the plumbing. The landscaper puts in the landscape. And so forth.  As long as they execute their roles, you can get a great house (or portfolio). If, however, the plumber starts to putting flowers in your pipes you may not notice right away, but you’ll have a problem. Likewise, if that small cap strategy starts buying large caps, you won’t notice at first but eventually you’ll have a different experience than you bargained for. That’s style drift. It’s the same with your portfolio. Each investment strategy has a role to play.  Hot Topic This Week Last week major world oil producers met in Qatar to discuss a production freeze. News of the upcoming discussions helped stabilize oil markets in recent weeks. Unfortunately, as expected, they were unable to come to an agreement.  We’ll discuss the possible implications it could have global equity markets. Practical Planning On this week’s show we answer listener questions including: * Does it matter when I rollover my 401(k) to an IRA? What should I consider when making this decisions? * When designing a balanced portfolio, should I count my company pension plan (which gives me $100,000 a year) as part of my bond portfolio? * In retirement, is retail income considered earned income? Would rental income factor into whether my Social Security would be taxed? Have a retirement question you’d like answered? Ask it here!

 #114 What You Need to Know About the World Economy | File Type: audio/mpeg | Duration: 46:05

If you’re investing for a great retirement, the state of the world economy can have a big impact on your success. This week, we go around the world updating you on Asia, Europe and the Americas. Listen to the Audio In This Episode We Cover Happy Lab  “I wish I had stayed in touch with my friends” is #4 on the top 5 list of regrets people have at their death. Make sure you invest in your relationships. Close friends will make your retirement more fulfilling. Don’t lose touch with them.  S.M.A.R.T. Sprint  Stay connected with people you care about. In the next 7 days, call a friend you haven’t spoken to in awhile. I’ll admit, I’m not the best at this. It’s something I’m working on.  What’s That Mean??  Fiduciary is a term we’ve seen in the press a lot lately. If your advisor is a fiduciary it means they are legally required to give advice in the client’s best interest and disclose any conflicts of interest. You may not realize that, when you work with an advisor on a commission basis, they don’t have a legal duty to recommend investments in your best interest. Here’s a great definition from Investopia. Hot Topic This Week reported last week that the Department of Labor released new rules for Financial Advisors who serve retirement accounts.  The new rules could change the way you work with advisors to create a great retirement. Practical Planning Briana Giuliano, CFA, Senior Strategist Brandywine Global Investment Management and I go around the world to explore current economic conditions in Asia, Europe, and the Americas. We also discuss the potential benefits and risks of investing internationally in bonds and stocks. Ask a Question Have a retirement question you need answered? Ask your retirement question below and I’ll respond personally. [ninja_forms id=1]

 #113 – How Your Personality Affects Your Money Decisions | File Type: audio/mpeg | Duration: 33:36

Thank you for joining me on The Retirement Answer Man show today. I am Roger Whitney and I am truly blessed to know that you are interested enough in this podcast to track down this show notes page. On this episode of the show, we are going to focus in on happiness, the things that keep us from it, the things we can do to maximize it in our retirement years, and how personality assessments can help us to be a happier person. That’s a lot to promise but I’m certain you won’t be disappointed, so take the time to listen. The top 5 regrets people have in old age. I recently read an article that was written by a woman who has worked with aging and elderly people for many years. In her experience she’s heard many older people express regrets about their lives – the “I wish I had” statements that none of us want to be true of us when we reach our golden years. In the “Be Happy” segment today and over the next 4 weeks I’m going to cover the top 5 things she mentions and give you some tangible steps you can take to ensure that you are not living out your older years with the same regrets! “Rich Dad” Author, Robert Kiyosaki, is STILL predicting a market meltdown this year! It was in MarketWatch this week, a follow up to Robert Kiyosaki’s prediction a few years back that by 2016 the economy will crash. Robert’s a respected figure in the financial industry. Many people just love his perspective and approach to building wealth. What should we think about situations like this when a well-known and well-respected person predicts such dire things? As you might suspect, I have some opinions about this kind of thing and share them with you on this week’s “Hot Topic” segment of the show. I hope you find my thoughts valuable. Have you heard anyone “Talking Their Book” lately? You may have and not realized it… that’s because “talking your book” is a phrase that makes total sense once you know what it means, but if you don’t – well, you’re going to be scratching your head a bit when you hear it. “Talking your book” is a phrase used to describe someone who is talking right in line with their philosophy about the subject, and even in a way that promotes their philosophy or approach above others. As I unpack the term on this episode, I’m also trying to help you develop a healthy and balanced approach to understanding what’s going on when others are talking their book. It’s all on this episode. Did you know that a good personality assessment could help you make better financial choices? It’s true. When you know your own personality better and are able to understand your tendencies when it comes to making decisions, dealing with money, and how you view the prospects of the future, you’ll have a clearer idea of how to handle the decisions that come your way day in and day out. On this episode, I’m chatting with my friend Jill Davis who is a DISC assessment practitioner and avid proponent of personality assessments. You’ll find the conversation fascinating and helpful. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:31] My welcome and introduction to this episode of the show. THE “BE HAPPY” SEGMENT [2:44] My 5 week experiment: The top 5 regrets people have in old age. [4:03] Regret #5: People wish they had let themselves be happier. TODAY’S SMART SPRINT SEGMENT [5:52] This week’s S.M.A.R.T. sprint: Write a journey each day recapping the highlights of your day and identifying habits that have prevented your happiness. HOT TOPIC SEGMENT [8:15] Robert Kiyosaki has predicted a 2016 stock market collapse. [9:48] What should you do in light of articles like this?

 #112 – What you Should Know About Investing in Real Estate | File Type: audio/mpeg | Duration: 41:02

Welcome once again to another great episode of The Retirement Answer Man.  I’m Roger Whitney, your host. I have been getting a lot of questions about real estate investing and I have to admit that I am not the expert on that subject. So, what I decided to do was to reach out to someone who was. On today’s episode, you are going to hear from Mark Ferguson,  a real estate investor from Colorado who has been doing this stuff for a very long time and really knows what he’s talking about. So, if you’ve got real estate investing questions as it relates to retirement planning, this is the episode for you to listen to. How you can stop, drop, and roll for more happiness in your life. I have noticed a tendency in my own life where I get excited about the things that I want to purchase, but the moment I get it, my interest in it seems to wane. It’s almost like the purchase itself decreases the urgency with which I felt I needed that item. On this week’s “Happy Segment” of the show, I’m going to suggest a three-point strategy for how you can address issues like that, and I call it “stop, drop, and roll.”  I think you’ll find this very helpful. Have you ever considered “I” bonds as part of your financial portfolio? You don’t hear investment advisors talking a lot about the treasury issued “I” bonds. Why don’t people talk about them? I think it’s because nobody is making money from them. You can only purchase them from the United States Treasury. But that doesn’t mean it’s a tool that is worthless. On today’s episode, I am going to give you the background on what these bonds actually are, how they work, and why they might be a great tool for you to consider for certain aspects of your financial management. Real Estate Investing for the rest of us. Late night infomercials and reality TV flipping shows lead us to believe that real estate investing is one of the best ways to make a lot of money. And I get lots of questions about this aspect of investing almost every week. I decided that since I don’t know a lot about the subject I would talk to someone who does. On today’s episode of The Retirement Answer Man, I’m going to chat with Mark Ferguson, an expert on real estate investing who is going to give us the pros and cons of using rental properties as an investment strategy. This episode is full of great information that I know will benefit you. Be sure you take the time to listen. Why are rental properties such a great investment? Today’s guest, Mark Ferguson, is convinced that investing in rental properties as part of your financial plan is a great way to generate cash flow and profit in the long run. On this episode, I get into the details with Mark about how to purchase properties with the right margins and numbers in mind, what to consider when you think about expenses and costs to the whole arrangement, and how rental properties can serve as a casual opportunity now and a great investment for the future. Mark’s expertise is so helpful to hear and learn from so I encourage you to listen in to our conversation to get an idea how you can get started in real estate investing. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:32] My welcome to you, to this episode of The Retirement Answer Man! [1:00] Introduction to today’s episode on Real Estate Investing. THE “BE HAPPY” SEGMENT [2:15] The tendency to buy instantly and never follow through on the promise behind the purchase. [5:40] The need to stop, drop, and roll.


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