Retirement Answer Man

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 first step, and one you can take easily enough on your own. Find out how on this episode of The Retirement Answer Man. What the HECK is a personal net worth statement? Your net worth statement is a document that will provide you a quick look at your financial situation at any point in time. By calculating your net worth you’re able to see what all the work you’ve done in your life has provided for you - as well as what you’ve spent so far. But tracking your net worth over time gives you even more insight into your financial picture. On this episode, I’m talking with Kim about the current assets and expenses she and her husband have right now, a few years before retirement. This will enable them to know where they are starting from as they begin to set retirement goals. You’ll see how applicable the net worth statement is to retirement planning, on this episode. Here’s the simple way to create your own net worth statement. You can calculate your own net worth statement pretty simply with very little effort. The hardest part is assembling all the facts and figures that go into a simple subtraction problem. Here’s how you do it: Total up all your assets (things you actually own that have value, including cash accounts at the bank), total up all your liabilities (the things you owe money on) and then subtract your liabilities FROM your assets. That will give you a net worth figure. Now that you have it, how do you use it to plan for retirement? I’m glad you asked because that’s what I’m covering with Kim, on this episode. How can you use a net worth statement to plan for retirement? When you’re planning for retirement you have to do more than just dream up fancy things in regard to your future without knowing how those fancy things are going to be funded. Your personal net worth statement will enable you to know what resources you have available to build upon in order to fund your retirement plans. Think of it as a starting place, the dot on the map where you are now. Once you understand that figure you’ll be able to see how far you are from the ideal retirement you’ve imagined. If you’d like to build your net worth statement with a little help from a retirement planner, here’s your chance. One of the things I love about what I do is that I’m able to help people accomplish financial goals through the creation and use of simple tools that are truly helpful. One of those is my “Build Your Net Worth Statement” worksheet - which is yours for free if you want it. If you’d like to get your own copy and find out how to get started with your own net worth calculations you can find it on my learning center page. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:30] My introduction to this “part 2” episode of the Retirement Plan LIVE.HOT TOPIC SEGMENT [2:43] What IS your net worth and how is it calculated?PRACTICAL PLANNING SEGMENT [12:30] Looking at Kim and Joe’s personal net worth statement to plan for retirement.TODAY’S SMART SPRINT SEGMENT [42:39] Identify the location of all your important documents and write down those locations for your loved ones.THE HAPPY LAB SEGMENT [44:20] Mishandling stress is a bad way to build happiness in relationships.RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerManLastPass1Password

What are your retirement wishes? Do you have any? This episode of The Retirement Answer Man is all about retirement wishes - dreaming up the kind of retirement you really want to live (forget about what seems practical for now). I’m walking through an initial retirement planning conversation with Kim and Joe - this year’s participants in my Retirement Plan LIVE event. In this conversation, you’ll hear how I help clients think through retirement needs and wishes and in coming episodes we’ll begin planning for how to accomplish them. It’s a hands-on conversation, so jump in to hear how we do it. Can you think a little bigger about your retirement? What are your wishes? For many people, the word “wishes” equates with the word “unrealistic.” But that’s not what we’re shooting for on this episode. In this conversation with Kim and Joe I’m trying to dig deep - to find out what they really want to be able to do during their retirement years so that we can create a plan that makes it possible once they get there. It’s a practical and exciting process and I hope you learn from this example so that you can start creating YOUR version of an ideal retirement in the future. Learning to dream bigger is not all that easy, but we need to do it. Most of us have a hard time envisioning what it’s going to be like during our retirement years. We hope for the best but often don’t know how to plan for it. Part of that struggle is that we have a difficult time knowing how to dream bigger, how to think of the things we really WANT to do during retirement instead of being limited by what we think will be realistic. On this episode of The Retirement Answer Man, I’m helping Kim expand her thinking when it comes to her retirement plan so that we can figure out now how to make her retirement wishes come true. Are you interested? It’s a great conversation. It’s impossible to forecast every retirement need, but you still need to do it. None of us know the future so it’s reasonable to think that retirement planning is a hopeless cause. Afterall, you can’t predict every expense you’re going to have, right? Well, sort of. On this episode of the show, you’re going to hear how I help Kim think through the needs she and her husband might have during retirement and establish a baseline budget that they will be able to live on but will also afford them some of the finer things in life. And we take into account many of the “unforeseen” issues as well. You’ll need to hear it in order to totally grasp it, and you can do that by listening to this episode. Your retirement dreams need some “placeholders” in your retirement plan. None of us truly knows what retirement is going to hold. Are we going to be healthy or are we going to face a health crisis? Are we going to be able to travel or will we feel like we want to be a homebody? But you can’t let the lack of certainty keep you from planning for the retirement wishes you have. That’s why you need to plan on some of the fun things you think you may want to be in your retirement by adding “placeholders” for those expenses. On this episode, I help Kim create some placeholders - and it will serve as a great example of how you can do the same.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:28] My welcome to this first conversation of the 2017 Retirement Plan LIVE![1:10] Learning to dream bigger is not all that easy - but we need to do it![2:50] How you can get your summary of the Retirement Plan LIVE sessions.PRACTICAL PLANNING SEGMENT [4:07] Getting the lay of the land in Kim and Joe’s situation - when will they retire?[7:18] What will be Kim’s purpose after they retire?[11:00] Dealing with a long retirement timeline from a financial perspective.[16:50] The conversations Kim and Joe have around finances.[19:30] Adding the spice of life to retirement (and planning for it).[24:57] The importance of adding “placeholders” to your future retirement expenses.[27:08] The possibility of caring for aging parents - and major purchase possibilities.[35:42] The struggle to get the big dreams down on paper.TODAY’S SMART SPRINT SEGMENT [40:31] The 2nd part of your I.C.E. Plan: Record the passwords and codes for all devices.THE HAPPY LAB SEGMENT [43:05] Getting back into my exercise program and how it’s impacting my happiness.RESOURCES MENTIONED IN THIS EPISODE LastPassOnePasswordContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Every year I conduct a grand experiment in internet broadcasting that features everyday people like you. It’s called Retirement Plan LIVE and it’s my attempt at helping you know the ins and outs of effective retirement planning - and I do it by inviting listeners to take part in a to-be-aired set of conversations that walk through their actual financial situation. If you would like to take part, all you have to do is listen to this episode. It’s going to be a fun ride! Fast moves by our new President. What does it mean for you as you plan for retirement? Donald Trump is now President of the United States and his first weeks in office have brought a flurry of activity that directly impacts the financial markets. If you are looking toward or planning your retirement in such tenuous times, it can be a bit overwhelming trying to figure out exactly what you should do. So what SHOULD you do? On this episode’s “Hot Topic” segment I’m addressing my view on such things and I hope you’ll see that you don’t need to worry or fret if you adhere to some simple principles. Meet Kim and Joe: this year’s Retirement Plan LIVE participants. Today we get to meet Kim and Joe, the kind and generous souls who have agreed to come on the show and bare all (except their identities) to help you see how I go about walking a family or individual through the monumental task of wisely planning for their retirement. These two are a great example of everyday folks who are beginning to consider the important things that need to go into making their retirement the best it can be. You’ll enjoy getting to know them, hearing about their hopes and dreams for retirement, and learning how you can take the first steps toward planning for YOUR retirement just like them. Do you have an I.C.E. plan for your personal finances? Why not? Do you know what a financial I.C.E. plan is? It’s the way I refer to an “In Case of Emergency” plan - something that your loved ones need to have in the unfortunate case of you being seriously injured or killed. Creating an I.C.E. plan is one of the most compassionate, caring things you can do for your loved ones and sadly, most people wait until it’s too late and never create it. On this episode, I’m going to give you a homework assignment: your first step in creating your own personal I.C.E. plan. If you are serious about caring for your loved ones even after you may be done, this plan is for you! Are you signed up for “Six Shot Saturday?” Join the few, the proud, the financially astute! Every week I send out an email to those brave and daring souls who are eager to receive that little bit extra in terms of financial information, tips, and strategies to help them maximize their efforts at planning for retirement. I only send it out to people who really want it - those action-takers who are willing to go the extra mile. Is that you? I’d love to send it to you so be sure you listen to this episode to find out how you can get on the list! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:30] Meet Kim and Joe - this year’s participants in Retirement Plan LIVE!HOT TOPIC SEGMENT [2:22] Fast moves by our new Commander in Chief. Wow![4:29] What do you if you are planning for retirement in such an uncertain time?PRACTICAL PLANNING SEGMENT [8:25] Meet Kim and Joe - this year’s RPL participants.[9:52] Why Kim wanted to do RPL with me this year.[12:46] General ideas that Kim has of what she’d like to see her retirement look like.[15:00] Meet Joe: his perspective on their financial situation.[17:24] Joe’s reaction to being on the podcast in such an open way.[19:03] Joe’s conception of retirement - and planning toward it.[24:00] What Joe wants his retirement to look like.TODAY’S SMART SPRINT SEGMENT [25:31] What is the I.C.E. plan and why should you have one?[27:25] The first step to developing your I.C.E. plan: make a big contact list.THE HAPPY LAB SEGMENT [30:09] A new relationship that made me happy - and he’s a great example of finding happiness through making the world a better place.RESOURCES MENTIONED IN THIS EPISODE www.Give-r.com (use the code “AnswerMan20” to get 20% off)Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Every one of us has a Facebook face - right? It’s that face we put on for the Facebook watching world (at least we HOPE they are watching). Here's what it looks like: We have a great life, great relationships, new car, enviable vacation pictures - you know the drill. It’s the adult way of impressing our friends and family. But the problem is that it’s not entirely true. On this episode of The Retirement Answer Man, I’m talking with a friend of mine, P.T. Money about the real life personal growth stories we all have related to our finances. It’s seldom pretty. We all have fits and starts in the journey. P.T. has a new podcast featuring those stories and I want you to hear about it, on this episode. None of us get our finances right in the beginning. It’s OK. It’s personal growth. I remember when I started out as a young adult - at least I thought I was an adult. I was doing the things I wanted to do, thinking I knew everything I needed to know, doing what came naturally and easily. I made a LOT of mistakes, with money and with my relationships. But it was those mistakes that woke me up to the needs in my own life, to the areas of growth that I needed to take seriously in my own life. On this episode, I’m trying to point us toward the real life struggles we all face so we can understand that none of us is alone on the journey. We all make the bone-headed mistakes that grow us up over time. Did you know what you wanted to do right out of high school? Me neither. Very few of us do. But we have this crazy-headed notion that if we don’t know what we’re going to do for the rest of our lives by the time we are 18, something is wrong with us. And even worse, we think that once we are in that career or in a serious vocation, that’s it. We’re stuck there for life. My guest today is P.T. Money - he’s a guy who almost literally fell into being an accountant because it was the family trade, so to speak. But by the time he was 30 years old he discovered that it actually WASN’T what he was wired to do. You can hear his story, how he discovered the bad fit, and what he did to pivot away from accounting and build a happier and more profitable career, on this episode. The growth curve exists all throughout life. Get used to it. Early on in life, I believed that one day I’d arrive, I’d get to the place that my personal growth would taper off. But that’s not at ALL what’s happened. I turn 50 this next week and one of the many things I’ve learned in my time on the planet is that the growth curve never stops, no matter how old and experienced you become. So if that’s true, how can we maximize the learning curve to amplify personal growth and make the most of the years we have? That’s the topic of discussion on this episode, with my guest P.T. Money. Building toward your retirement through a side-hustle is an incredible idea. We’re all hoping for the best retirement possible. That includes plenty of money to know that we’ll be comfortable and secure for the years we have left after leaving our full-time employment or career. But I want to challenge you to think a bit bigger than that. What can you do to put together a side hustle based on an area of interest or passion, and use it to make a bigger difference in the world - both now and during your retirement? What would that look like? I bet you could make it happen. My guest P.T. Money and I talk about that possibility on this episode of The Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:29] My introduction to this episode about life evolutions and personal growth.[5:02] What happens with something (someone) who evolves.HOT TOPIC SEGMENT [6:18] Burnout is evolution gone wrong.[9:00] How to pivot your work to serve you rather than the other way around.PRACTICAL PLANNING SEGMENT [9:40] My guest, P.T. Money - and why I’ve invited him on the podcast.[12:15] Why P.T. left the accounting practice.[13:34] How P.T. defaulted into accounting and realized it wasn’t for him.[14:59] Changing emphasis and career - and the financial growth ensued.[20:03] What P.T. sees for himself in the next few years, and regarding retirement.[23:10] How to find and work toward “your thing” to build a side hustle.[27:00] P.T.’s goals for his podcast and the types of conversations he wants it to provide.[30:02] How you can get in touch with P.T.TODAY’S SMART SPRINT SEGMENT [30:28] Your baby step for this week: Start your own “In Case of Emergency” plan.THE HAPPY LAB SEGMENT [33:25] Play this episode of the podcast at ¾ speed and let me know what you think! It’s a riot!RESOURCES MENTIONED IN THIS EPISODE www.PTMoney.comPodcast: The Masters of MoneyFinCon conferenceGet in on “6 shot Saturday” - sign up on the website.Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan TWEETS YOU CAN USE TO SPREAD THE WORD #153 - Real Life #PersonalGr

Financial forecasting season is upon us! It’s the new year and there’s always a handful of predictions you see regarding politics, markets, social trends, and much more. If you spend much time listening to the talking heads out there you can come away very confused. Why? Because you’ll hear as many opinions and forecasts as there are talking heads! On this episode of The Retirement Answer Man, I’m going to talk a bit about the role financial forecasting should play in your financial decisions. You’re going to find out what I think of all the expert advice out there, so be sure you give this one a listen. Financial forecasting is often primarily about attention, not truth. Don’t get me wrong, the people out there making their financial forecasts truly believe that what they are saying is really going to happen. But they’re not making their forecasts solely for the sake of helping you know what to do. They are trying to get attention, to get eyes on themselves and their organizations. That enables them to be positioned as an expert in the field and hopefully (they are hoping) they will get some clients or business as a result. So how should YOU take action based on the forecasts? I’m going to tell you what I think, on this episode. What is a donor advised fund and how can you use one? On this episode of The Retirement Answer Man, I received a question from a listener about the wisdom of putting some assets into a “donor advised fund.” What is that you may ask? A donor advised fund is essentially a philanthropic financial vehicle established at with some public charity. It allows you - or any donor for that matter - to make a charitable contribution, receive an immediate tax benefit and then recommend grants from the fund over time. So in this way, as a donor, you are able to also be an advisor to the fund regarding what they do with the money that's given. So in answer to my listener’s question I dive into those types of funds and give a bit of advice about how you can wisely contribute to and participate in them. Do you have retirement funds in an ESOP? Is there any way to move them out? One of the things I love to do on The Retirement Answer Man show is answer listener questions - and on this episode, I got a great one about ESOP accounts. An ESOP is an employee stock ownership plan. It’s a qualified plan designed to invest primarily in the stock of the company where you are employed. ESOPs are "qualified" in the sense that the ESOPs sponsoring company, the selling shareholder and participants receive various tax benefits. But the listener who asked the question wants to diversify the account. Is it possible? I’ve got some suggestions for him on this episode, so be sure you listen. Are you device-addicted? You should take the question seriously. I recently saw a video created by a very thoughtful and wise guy named Simon Sinek. He was talking about the tendency among Millennials to be “device addicts.” He pointed out that the “ding” of a device notification stimulates the very same chemicals in the brain as shot of cocaine. That means we are able to become physically addicted to the sensation on certain levels. Why am I asking the question? Because I’m concerned not just about retirement planning, but retirement planning that leads to a HAPPY life. And if you’re addicted (to anything) I doubt you’re going to be your happiest. Find out how I suggest you go about answering the question on this episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:32] My introduction to this episode of the podcast and an invite to check out the blog.[2:31] Retirement Plan LIVE begins February 1st with a new couple!HOT TOPIC SEGMENT [4:26] The issue of predictions for the markets for 2017.[6:49] How I think about predictions (it’s all about attention).[9:10] What you have to do practically in light of predictions.[14:13] High value activities regarding your portfolio.PRACTICAL PLANNING SEGMENT [15:45] QUESTION: How wise are donor-advised funds and how should I approach them?[22:01] QUESTION: My portfolio is full of company stock only by requirement (ESOP). Is that legal?[26:06] QUESTION: Can a spouse take an early SS benefit on their own then “upgrade” to the higher benefit of their spouse when the time comes?TODAY’S SMART SPRINT SEGMENT [30:06] In the next 7 days, update your net worth statement for 2016.THE HAPPY LAB SEGMENT [31:15] Do you have a device-addition? Do a self examination.RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/www.RogerWhitney.com/blog - check out my new blog!Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan TWEETS YOU CAN USE TO SPREAD THE WORD #152 - #FinancialForecasting: #2017Predictions And The Impact They Have On YOU#FinancialForecasting is often primarily about #attention, not #truthWhat is a #donor advised #fund and how can you use one?Do you have #

Welcome, welcome welcome! It’s 2017 and time to address those retirement goals you’ve been putting off. And I’m here to help. I’m Roger Whitney, otherwise known as The Retirement Answer Man. I’m here every week to help you think through, plan for, and take action toward a better retirement than you can conceive! Well, maybe not that extreme but I do want you to have a happy and healthy retirement that is personally rewarding for you and yours. This podcast is all about that end goal. On this episode, I’ve got a lot to share about where we’re headed in the next year and we talk with our very first participant in the Retirement Plan Live event from a few years ago, Carl. I hope you’ll take the time to listen. I’m now BETTER EQUIPPED to help you with your retirement goals. As I was looking toward 2017 and trying to focus on the things that I believed would help me serve you and my clients better, I decided that I needed to make a huge change in my life. I dropped some of the licenses that I’ve held for over 20 years. Why would I do that? Because now there is a lot less government regulation inhibiting the kind of things I can talk about on this podcast and on my blog. Now I can actually mention common retirement vehicles like "mutual funds" and others. I’m better equipped to help you navigate your retirement goals and am eager to do so. Find out how I do it week to week on this episode of the Retirement Answer Man. Retirement goals are not something you should put off. Most people wait far too long to begin setting retirement goals. It’s easy to think that you have plenty of time but the sad reality of the way life goes is that time sneaks up on you and retirement is here before you know it. You’ve got to start setting goals and reaching for them NOW so that your retirement is a happy, secure, and meaningful one. On this episode, I’m talking with the very first person who participated in my annual Retirement Plan Live event, Carl - and he’s going to share how he’s doing with his retirement plan and the enthusiasm that has come into his life from doing so. You’re going to want to hear this one. How sharing your story could help someone else navigate their own retirement. In this episode of The Retirement Answer Man, I talk with Carl. He and his wife were two of the very first people I worked alongside in my Retirement Plan Live event a few years ago. Carl has begun to share his own story of planning and moving toward retirement in his own blog. What he’s discovered is that his story is beneficial to others who are on the same path he is - and I would venture to say that every one of you has the same ability to impact others with YOUR story. So what are you waiting for? Listen to this episode to find out how you can tell your story among the Retirement Answer Man community and see how it encourages others. Our very first Retirement Plan Live participant is on the way to his retirement goals. Carl and his wife are just a few years away from retirement. They’ve got their retirement goals laid out before them and are systematically ticking them off the list, one at a time. In this conversation, Carl and I talk about their recent move from their long-time home to a cabin in another community 100 miles away. The transition has gone well and Carl points to a few things they did that he believes made the transition less of a hassle than they expected. He also shares how he’s built a “bridge” into his retirement and why he recommends that everyone who is a few years away from retirement do the same thing. Carl’s a wise man and you’ll learn a lot from his experience, so be sure you listen.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [1:51] My word for the year that I’m going to be focusing on: Focus[1:30] What is YOUR word that you want to focus on this coming year?HOT TOPIC SEGMENT [2:20] Why 2017 is the year the gloves are coming off.[4:15] Why I’ll be talking a bit more freely and why investment management will be a topic of conversation.[6:18] How you can ask your questions.PRACTICAL PLANNING SEGMENT [7:44] Our first ever Retirement Plan Live participant: Carl.[9:10] How sharing our stories helps other people plan their retirement.[9:45] How Carl is doing with his retirement plans as highlighted in RPL.[12:10] The transition from one home to another as part of the retirement plan.[16:30] The current retirement plan Carl is working through - and where he is in it.[18:11] Plans to quit work earlier and why Carl is not doing it.[21:40] Discussions about how they will be husband & wife in the retirement years.[24:00] Carl’s blog and the enthusiasm that has come from it.[28:00] Why it’s important to build a bridge into your retirement years.THE HAPPY LAB SEGMENT [33:21] Finding dreams to fuel you while you still have time.TODAY’S SMART SPRINT SEGMENT [35:13] In the next 7 days, subscribe to this podcast and leave some comments on the blog posts - OR ask your own question.RESOURCES MENTIONED IN THIS EPISODE www

Dealing with failure is never an easy thing. We all have things we regret, wish we could do over, or would like to have never done in the first place. This episode of The Retirement Answer Man is filled with YOUR feedback to this show - over 220 responses you sent in at my request, responses to my annual listener survey. And you didn’t hold back! There was lots of great advice for making the show better and a few criticisms that I have to admit stung a bit. But I’m not going to take it personally - I’m making the choice to deal with the potential failures revealed in your feedback as exactly that - feedback. I’m going to use it to become better! I hope you listen in. The Retirement Answer Man 2016 Listener Survey - the results are in! I am one of the few podcasters I know who actually does a listener survey each year - and I do it for a very specific reason. I honestly feel that the podcast is about you. I want to talk about the things that YOU feel will be most helpful to you, so I need to hear how the things I’m doing are impacting you on a practical level. As a result of the excellent feedback I received this year, I have some changes to announce and some promises to make about the show going forward. If you want to know what’s coming on the RAM show in the next year, take a listen to this episode! Could you use some practical case studies of real-life retirement issues? Apparently, all of you who listen to The Retirement Answer Man show are a practical bunch. The listener survey reveals that you want me to do more case studies - you know, the practical stuff that helps you apply retirement strategies and principles to real-life situations. And because you asked for it, that’s exactly what I’m going to do in 2017. In addition to my annual “Retirement Plan Live” (which is coming up after the first of the year), I’m going to do a few more case studies of various sorts throughout the year. I want the show to be as helpful to you as possible, so thanks for letting me know what you want! Do you feel like a failure when it comes to your retirement planning? Many people wait far too long to start planning for a happy and healthy retirement. It takes time to build up the funds needed for a secure retirement and you know, time has a way of sneaking up on us all too quickly. If you’re feeling fearful about your retirement I want to encourage you that it’s never too late to start. There are some important things you can begin to do today to mitigate the damage of procrastination and get moving in the right direction. Don’t worry about what’s coming in the future. Start focusing on what you can do now to make your future better. These are the top fears people have when it comes to retirement. The 220 participants in my 2016 Listener survey were very clear and honest when it came to expressing their top fears relating to retirement. Would you like to hear what they said? Number one on their list of fears was the rising cost of healthcare. That makes complete sense because our senior years are often years of rising medical costs. A close second on the list is a related issue in a sense, and that is that they will run out of funds to live on before they run out of life! What can you do to offset your fear and ensure that they never come true? One thing you can do is listen to The Retirement Answer Man podcast. Each week I’m aiming at helping you prepare for the happy and healthy retirement of your dreams. You could learn a lot by listening. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] The quote I’ve learned to live by and how we need to think about failure and feedback.[1:15] A personal example of my first major failure: debate class.HOT TOPIC SEGMENT [3:20] The responses I received from 220 of you on my annual listener survey![7:15] Your most enjoyed segments of the show![8:31] The things you want to see more of on this podcast.[9:15] What excites you most about retirement - survey responses.[10:35] The things you are most worried about when retirement comes.[11:34] Your comments and ideas about how the show can become better.[15:51] The changes you can expect for the 2017 version of The Retirement Answer Man.PRACTICAL PLANNING SEGMENT [21:20] The end of the road map personal planning option I’ve been providing and the advent of something new.[24:58] Book recommendations from listeners like you![30:30] How you can leave a book review.TODAY’S SMART SPRINT SEGMENT [30:43] Your 7 day goal for this week: Make a commitment to take a step back and not worry.RESOURCES MENTIONED IN THIS EPISODE BOOK: Bounce Back: Overcoming Setbacks in Business and LifeBOOK: Winning the Loser’s GameBOOK: Outwitting the DevilBOOK: Living ForwardRoger(at)wwkllc.com - reach out to Roger if you want to be on retirement plan live.www.RicherSoul.com - Rocky’s site.Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Face

You may not even know what “hyperbolic discounting” is. But it’s something we all fall prey to numerous times, at least weekly. It’s the temptation to do something now that you know is not the best long-term. On this episode, I tell the story of how I bought a set of noise canceling headphones even though I knew that the money spent on them could have been invested more wisely in other ways. It’s an example of hyperbolic discounting that I use to show you how you and I need to be careful that we’re not making decisions today that will come back to bite us tomorrow. Is your retirement fund really going to be there when you need it? As human beings we have this amazing capacity to convince ourselves that the decisions we’re making are the best decisions we could make, when in fact, they simply aren’t. It’s called self-deception and it’s part of being human. One of the ways we do that is by giving in to the temptation of hyperbolic discounting - justifying a choice that’s a short-term gain at the expense of a bigger long-term payoff. It’s why we eat the cookie now rather than “being good” for the sake of reaching that ideal level of fitness that we really want. On this episode, I’m talking about the role that hyperbolic discounting plays in retirement planning and why it’s important to have the outside perspective and help of a qualified advisor. I hope you’ll take the time to listen - for the sake of your long-term goals. My 3rd annual Retirement Plan LIVE will begin in February. Do you want in? One of the most popular and helpful things that I do on The Retirement Answer Man podcast is the annual Retirement Plan LIVE. It’s where I take a real-life person (maybe you) and work through their financial situation alongside them to devise a plan toward the things they want to have in place when they reach retirement. But I can’t do it alone. I need someone who’s willing to be the subject of the plan. Is that you? You can find out who I’m looking for and whether you’d be a good fit on this episode of The Retirement Answer Man! Anytime an advisor makes recommendations before he understands your situation, you should run! A listener wrote to me to ask what the difference is between annuities and a whole life insurance policy. It turns out her questions stem from a conversation she’s been having with an insurance advisor who’s encouraging her to look into the possibility of whole life insurance instead of annuities. I don’t know enough about her situation to say that he’s giving her bad advice but I do know this: Anytime and advisor begins to point you in a certain direction without having assessed the entire situation, you need to be very, very careful. Find out why I’m so cautious, on this episode. One way you can avoid hyperbolic discounting is by taking a small step of immediate action. Hyperbolic discounting is when you choose a small benefit today at the expense of a larger benefit later. It’s the opposite of practicing delayed gratification. On my smart sprint segment of this podcast episode I give you a simple, easy plan to increase your retirement contributions that you won’t even feel month to month but that will enable you to avoid the temptation of doing nothing at all to increase your retirement. You can find out what it is on this episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] The struggle with temptation we all face and the cost they can have on life..HOT TOPIC SEGMENT [3:00] Beginning 2/1/2017 - The 3rd annual Retirement Plan LIVE begins![5:00] What it takes for YOU to be my RPL subject for this year!WHAT DOES THAT MEAN? SEGMENT [8:30] What is Hyperbolic discounting?PRACTICAL PLANNING SEGMENT [12:37] How should you evaluate your insurance needs in light of current insurance plans?[17:05] Why a second opinion on issues is important.[19:40] QUESTION: How should you evaluate annuities VS insurance solutions?[21:38] QUESTION: What should I do with extra money each month?TODAY’S SMART SPRINT SEGMENT [25:33] Go to your retirement accounts and review your allocations, then increase your contributions by 1%.THE HAPPY LAB SEGMENT [26:21] The importance of having little conversations all through life - and why you need more positive things to keep you on track.RESOURCES MENTIONED IN THIS EPISODE Roger’s email: Roger(at)wwkllc.com - submit yourself for Retirement Plan LIVEContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan TWEETS YOU CAN USE TO SPREAD THE WORD #149 - How The #Temptation of #HyperbolicDiscounting Can Bite You In the EndIs your #RetirementFund really going to be there when you need it?My 3rd annual #RetirementPlan LIVE will begin in February. Do you want in?Anytime an #advisor makes recommendations before he understands, you should run!One way you can avoid #HyperbolicDiscounting is by taking a small step of immediate #action

You want to get the most out of your Social Security benefits, right? I’m with you, maximize Social Security as much as you can! But there’s a lot of conflicting advice out there about what you should do to make that happen. Some advisors are saying you should take early but reduced benefits in view of life expectancy while others are saying the early benefit is wise because social security is not a very stable system and it may not be around by the time you can take the increased benefits. What should you do? On this episode I’m going to walk you through the outline of a presentation I gave on this very subject, so grab your thinking cap and let’s get to work! Why are more retirees taking their early, reduced social security benefits? It’s more common than ever in recent years that people who qualify for taking social security are doing so at the earliest possible moment. It’s totally legal and OK to do, but when you do you get a reduced rate of benefit - and you’re locked into that rate for the rest of your retirement years. If you get less money, why are more people doing it? On this episode of The Retirement Answer Man, I’m going to explain it to you and even walk you through a few scenarios of what the numbers look like if you take the early benefit VS waiting. I think you’ll be surprised at the difference! Is social security even going to be around when you reach your maximum benefit age? There are many people who take the early but reduced benefit on their social security because they are not confident that the social security system is stable enough to last until their full benefit age. I get that. There’s been lots of scary prognosticating surrounding the viability of social security that’s made the rounds over the years. Coupled with that is the sentiment many people have that they’ve worked hard all these years to fill their social security fund so the minute it’s available, they want it! On this episode, I’m going to give you my opinion about whether or not the good old SS administration will be around for very long. I hope you listen. Before you decide to take your social security benefits at the earliest date, think of your family. I totally get the eagerness many people have to tap into their social security benefits the moment they can legally do it. But when you do so you need to realize that the decision you make will not only impact you, it will also impact your spouse and possibly your surviving children. On this episode of The Retirement Answer Man, I’m going to walk you through a scenario or two to show you what could happen by taking your benefits early and give you some things to consider about whether it’s the best move or not. If you want to maximize social security maybe you should work some during early retirement. I know, it sounds crazy to work during retirement. But on this episode, I’m going to show you the huge financial difference it could make if you simply work a small amount during the earliest years of your retirement. It will not only help you maximize social security for your own benefit but will also dramatically change the quality of life you enjoy during the later years of your retirement. Interested? I think you will want to hear this perspective. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:21] My introduction of this episode about maximizing your social security benefits.HOT TOPIC SEGMENT [4:04] Michael Hyatt’s “Your Best Year Ever” course and why I’m promoting it!PRACTICAL PLANNING SEGMENT [6:04] My whirlwind tour of Texas, speaking to CPAs.[8:08] Something important to consider about social security.[10:55] Why you need to review your SS earnings statements.[13:15] How some people take a reduced rate on Social Security benefits.[15:40] Calculating the “break even” age to decide if a reduced rate makes sense.[17:00] How longevity statistics impact the decision.[20:00] Why the decision is not only about your life but those of your family members too.[22:05] Why working during early retirement is making more sense all the time.[24:55] How it could be a bad decision to take early, reduced Social Security benefits.[27:04] A quick example of what could happen in either case.TODAY’S SMART SPRINT SEGMENT [33:18] Choose a word to guide you in making decisions this coming year.THE HAPPY LAB SEGMENT [34:36] What I did yesterday that made me very happy! I didn’t get out of bed until 1 PM - and I didn’t guilt myself out!RESOURCES MENTIONED IN THIS EPISODE Michael Hyatt’s Best Year Ever CourseContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

I’ve been hearing a lot lately about the so-called retirement crisis that’s happening in the United States. And what I think has happened is this - a long-held belief that rising costs and the decreasing value of the dollar make retirement more and more difficult - has conditioned us to think in terms of survival instead of in terms of possibility. We approach retirement planning with a crisis mindset instead of taking the time to dream about what might be possible. On this episode, I walk you through how I would advise one of my clients to dream up their ideal retirement to avoid any crisis thinking and live their best life as a result. Why you need to ignore the news about the so-called retirement crisis. It’s easy to get into negative ways of thinking without even knowing it. Pessimism comes naturally to people who want to think wisely, which most people who actually engage in retirement planning are. How do we get out of the pessimism trap when it comes to our retirement planning? I think first off we have to realize that there IS no retirement crisis. It’s really a crisis in how we think about retirement. I’ve got some ideas about how you can plan for your ideal retirement from a place of possibility and dreams instead of a place of pessimism. Listen to this episode and you’ll get an earful of how I have seen it happen. Learn to dream about your retirement to open the door to possibilities. One thing I’ve learned from taking trips is this: you aren’t able to see the next mile down the road until you first travel the mile you’re on. It’s a simple and obvious truth about the way life is. When it comes to retirement planning you’re not going to know what’s possible unless you first take steps toward those possibilities - and one of the primary ways you can do that is by dreaming. I mean the nothing-off-limits dreaming we're often afraid of. It helps you set the stage for what your ideal retirement could be. On this episode of The Retirement Answer Man, I walk you through how I advise my clients to dream up an incredible retirement and then show you how we plan for it practically. It’s not theory or rainbows and unicorns, it’s real life planning that makes for a great retirement. Avoid the retirement crisis by getting your financial spaghetti in order. I like to think of retirement planning like a plate full of delicious spaghetti. There are 3 primary things that go into the dish. The pasta, the sauce, and the spices that give it the “zing” you want in a good Italian dish. If you miss any of those things you won’t have the flavor you want and won’t be very satisfied as a result. Too many people approach their retirement planning with a focus on only one of the very important things that go into a great retirement. Can you guess what that is? On this episode, I’m going to tell you what it is - and tell you how to avoid the kind of thinking that gets you into that situation in the first place. Your retirement is YOUR retirement. Make it what YOU want it to be. As I work alongside clients I see it time and time again - people who are concerned that they have the same kinds of things their parents had during retirement, or that they are able to maintain a standard of living comparable to a friend who just retired. You know, I get that way of thinking but I can’t say it’s the best approach. That’s because your retirement needs to be exactly what YOU want it to be, not some vague standard set by somebody else who traveled the road before you. On this episode, I want to say few words about this important issue because if you can make the switch to think of your retirement as truly YOURS, you’re going to discover a retirement that makes you truly happy. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:28] Why I’m going to emphasize how you can think bigger and thrive in retirement.HOT TOPIC SEGMENT [2:58] Michael Hyatt’s “Best Year Ever” event is coming up.[4:35] Custom conference calls we can use together after attending the event.PRACTICAL PLANNING SEGMENT [5:24] Dream up your ideal retirement life when you meet with your financial planner.[8:01] Don’t be reasonable - just WAG a number.[9:23] Retirement planning is not just about the money (the numbers).[12:02] Why investing in relationships is more crucial than ever before.[13:41] Figuring out your purpose in life and what that really means.[15:53] Dealing with the financial part of retirement planning - it’s like spaghetti.[22:35] Why you need to separate your retirement planning into 3 categories.TODAY’S SMART SPRINT SEGMENT [27:18] How you can get Michael Hyatt’s free assessment (6 shot Saturday).THE HAPPY LAB SEGMENT [28:52] My recent experience getting a manicure and what it teaches me about being open to new experiences.RESOURCES MENTIONED IN THIS EPISODE Text “Sixshot” to “33444” to get 6 Shot SaturdayThe Rusty Lion AcademyContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe

In case you haven’t noticed, the recent election has had a pretty significant impact on the strength of the dollar worldwide. The U.S. dollar is actually gaining strength in the world economy - it’s at a 13 year high - and it’s in large part because of what financial gurus around the world believe is going to happen in the U.S. economy because of the election of Donald Trump. But do you know what impact the growing power of the dollar will have on you? If you want to hear how this phenomenon happens, why it happens, and what it means for you, I’ve got you covered on this episode of The Retirement Answer Man. Do you understand what the FOREX market is? The term “FOREX” stands for “Foreign Exchange Market” and it’s where people worldwide trade in currencies. You may not have even known such a thing happens. But anytime you go to another country and you have to trade U.S. dollars for another currency, you’re taking part in a FOREX style trade - one currency value compared to another and exchanged in kind. With the rising value of the dollar these days the FOREX market is going a bit nuts at the moment. Find out why and what it means for you on this episode. Is your long-term care policy safe even if your company is no longer providing long-term policies? After my comments on the last episode of the podcast about John Hancock’s announcement that it will be getting out of the long-term care business, some of you were a bit concerned. You have JH long-term policies so you’re wondering what’s going to happen to that policy. On this episode, I walk you through the scenarios of what typically happens when a large insurer like John Hancock makes an announcement of this type, including how they take care of the policy holders they already have on the books. I think you’ll find that it’s not as bad for you as you may be fear. Should long-term market averages impact the way you draw cash from your retirement account? A listener to the podcast wrote to me this last week pointing out that long-term averages indicate that market downturns are almost always corrected over time. Looking at that fact he suggested that because the market will correct itself in time we shouldn’t be so concerned if we are living through a market downturn during retirement. But I’ve got a slightly different take on the issue simply because even though the facts and figures do add up just like he’s saying, we are emotional creatures and aren’t always able to live with the reality of what’s happening around us. You can hear my entire train of thought about the subject clanking along the tracks, on this episode. What retirement-related issues do you want to hear on this show? It’s time once again for my annual listener survey. It may not sound like a very exciting thing for you to take part in but the responses I receive from the listener survey are the primary way I determine what I’m going to be talking about over the next year’s episodes of the podcast. I’d really love to get your feedback and input. It’s a great way that you can help me help you! If you’d like to know how you can take part in this year’s survey I cover it step by step on this episode of the podcast so set aside some time and give it a listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:29] My introduction to this Thanksgiving episode - and my plans for the show moving forward.[1:19] My 2nd annual listener survey - would you help me create better content?WHAT DOES THAT MEAN? SEGMENT [3:34] What is the Forex market?HOT TOPIC SEGMENT [5:27] The 13 year HIGH the U.S. Dollar is on right now.[6:45] How President-elect Trump’s policies are stimulating this change.[7:52] The impact of a high priced U.S. Dollar, worldwide.PRACTICAL PLANNING SEGMENT [9:48] Mike asks, “We are concerned about John Hancock’s future when it comes to our long-term care insurance. Can you help us understand what might happen?”[12:49] John asks, “How do I know the best way to manage my cash reserves and investments in bad markets?”[15:42] Eric asks, “Since market downturns usually average out over time why not invest entirely in equities?”[29:39] Why are bonds typically included in investment portfolios?TODAY’S SMART SPRINT SEGMENT [33:54] Two steps this week: #1 - Complete my survey in the 6 Shot Saturday email. #2 - Look for the ebook in 6 Shot Saturday, take a look at it.THE HAPPY LAB SEGMENT [35:20] Take some time to interact with family this holiday instead of getting stuck in front of the football games.RESOURCES MENTIONED IN THIS EPISODE Sign up for 6 Shot Saturday - text “SixShot” to “33444”Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

It’s almost time for that year end tax planning. 2017 is going to be here before you know it! Over the past few weeks, I’ve been talking with quite a few of my clients about their year end financial planning and realized that the things I’ve been talking about week after week these days could also be of help to YOU! So on this episode, I’m going to walk you through some of the most common things I suggest to my clients at the end of the year that can put them in a better tax and financial position as the end of the year approaches. I hope you find it helpful! The year ends with some BIG NEWS from John Hancock insurance. Did you hear the latest news from John Hancock insurance? The company announced just this month that they will no longer be offering long-term care insurance. That may not sound like such a big deal to you but with the rising cost of healthcare, and especially the type of care that’s often needed in the later years of life, this is a big deal - because John Hancock is one of the biggest players in the insurance industry. Does this indicate a move that other insurance carriers will be making in the future? You can hear my thoughts on the subject on this episode of The Retirement Answer Man. Are embedded capital gains going to mess up your year end financial planning? You have those investments that you never think about - they’re often part of a retirement or investment package that you have in your company plan. Part of the perk you get from those kinds of investments is that they accrue investment profits (hopefully) without you even having to give them a second thought. BUT, when it comes to your year end planning and trying to offset your tax liability you can often get a bite from those plans because the gains you've accrued through them are more than you expect - or you forget about them altogether. On this episode, I explain what embedded capital gains are and how you can take them into account for better year end planning. Don’t forget about managing your gains and losses to minimize your liability. It happens every year. I see it again and again. Someone comes to me eager to reduce their tax liability just before taxes are due and they did nothing before the previous year ended to effectively manage their losses and gains to offset their tax liability. Folks, you’ve got to start thinking about those things now, before the year ends to ensure you’ll be able to do the smartest things you can before you have to pay your taxes. That’s just one example of a handful of things you can keep in mind as you do your planning for the next year. Be sure to listen, I share the most common ways you can make better year end decisions, on this episode. Do you have a flexible savings account with cash in it? Use it up before you lose it! Many people don’t realize that flexible savings accounts - though a great financial tool to use - are typically set up in a way that you have to use the cash in it before the calendar year ends. So if you don’t use it - that’s right - you lose it! On this episode, I give you some suggestions (not advice mind you) about the kinds of things you could do to make the best use of those funds before your time runs out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:34] My welcome to this episode!HOT TOPIC SEGMENT [3:36] Big economic news: John Hancock will no longer be selling traditional long term care insurance.[6:15] The rise of hybrid policies and what it means for you and me.[7:31] Why traditional policies have plummeted in popularity.[9:45] How I typically deal with long term care issues with clients in my practice.WHAT DOES THAT MEAN? SEGMENT [11:26] Today’s term: Embedded Capital GainsPRACTICAL PLANNING SEGMENT [13:52] Items you should think about when you do year-end planning.[14:30] Charity giving before the end of the year.[15:40] Managing gains and losses to reduce your capital portfolio.[17:00] Required Minimum Distributions and inherited IRA issues.[18 :05] Giving to individuals is a significant way to reduce tax liability.[20:53] Prepaying items you’ll need to pay eventually anyway.[20:53] You might want to use up your flexible savings account cash.[21:51] Health savings account contributions can be a big deal.[22:52] Reviewing your 401 K and considering an increased contribution amount.[23:32] How would a Roth IRA transfer impact your situation?THE HAPPY LAB SEGMENT [24:06] The mean video my wife sent me.TODAY’S SMART SPRINT SEGMENT [25:24] Determine which of the things I’ve mentioned apply to you and get started with your year end planning.RESOURCES MENTIONED IN THIS EPISODE www.Morningstar.comText “6 shot” to “33444” to get the listener submitted reading list.Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

The power of reading is something you shouldn’t underestimate. Even if you don’t enjoy reading. That’s because there’s no other resource in the world where you can spend $20 and get a potential return of thousands of dollars, increased happiness, greater success, and a whole lot more. I’ve been thinking about this a lot lately because I’m discovering that the older I get the more I appreciate books. On this episode, I’m going to let you listen in on a conversation I had with Jeff Brown, the guy behind the Read to Lead podcast. He’s got some great insights into the power of reading, what it can do for you, and even gives us some tips on how to get more out of our reading. I hope you take the time to listen. 42% of college graduates will never read a book after graduation. Can you believe that? It’s really a shocking statistic but apparently, it’s how the world is going these days. I think it’s a tragic sign of the passive way people are going about life in the modern era. People appear to be losing their motivation to make something of their lives - and it may seem strange that I’m making that conclusion based on stats about the decline of reading, but it’s really common sense. Reading is one of the primary ways anyone can increase their knowledge and improve their life without having to depend on anyone else. But it requires initiative, doesn’t it? On this episode I hope to challenge you to pick up a book and get busy learning, growing, and making more of yourself. It doesn’t matter if you’re retired or not, you can always learn something and make your life happier by reading a book. You’ve heard it said that leaders are readers, right? It turns out it’s true. Every successful person you can think of is a purposeful reader. Warren Buffett, Bill Gates, Mark Zuckerberg, Elon Musk, Jeff Bezos, Mark Cuban, and many other highly successful people have openly shared that they read significant amounts every day. In fact, when Elon Musk was asked how he learned to build rockets his answer was, “I read books.” On this episode my guest, Jeff Brown is going to share what he’s discovered about the importance of reading on his path to entrepreneurship after years in the corporate work world. He says it's imperative that you be a reader if you are going to develop the new mindsets you need in order to make a change for the better in your life. And we all want to see “better” happen in our lives, right? Would you like to know how you can better tap into the power of reading? On this episode of The Retirement Answer Man, my goal is to challenge you to increase your happiness and quality of life both before and after your retirement by becoming a more effective reader. Toward that end, I’ve invited Jeff Brown on the show to share some insights from his experience in reading great books and interviewing the people who have written them. You’re going to find yourself not only challenged but also inspired by what Jeff has to share. He’s got some great tips for how you can get even more out of your reading. I hope you’ll take up his challenge to be more intentional about the way you read. My listener recommended book list is ready for you! Here’s how you can get it. For the past few months, I’ve been compiling a list of book recommendations that listeners to my podcast have submitted. The books on the list cover all sorts of topics, from financial planning to personal development and growth. If you’d like to see the top books that my very intelligent and world-changing listeners recommend, you can get them free of charge. All you need to do is sign up for my “6 Shot Saturday” emails - and you can find out how to do that by listening to this episode where I chat with Jeff Brown from the Read to Lead podcast. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:22] The impact of my discussion with Dr. Andrew Scott a few weeks ago.[2:12] A peek into this episode with Jeff Brown from “Read To Lead.”HOT TOPIC SEGMENT [3:10] Stats about reading in the United States.[4:22] How does reading connect to success?WHAT DOES THAT MEAN? SEGMENT [6:24] The word for today: APPLICATIONPRACTICAL PLANNING SEGMENT [9:49] My introduction to Jeff Brown and his podcast, “Read to Lead.”[10:55] Why Jeff began his podcast, Read to Lead.[15:15] New books VS old books - is there a difference?[18:27] How reading helped Jeff build the entrepreneurial life he enjoys now.[21:46] Research proves a powerful way to extract more from books: take notes.[25:50] How Jeff journals through books (taking notes).[28:15] Three books Jeff found helpful as he transitioned to his entrepreneurial life.THE HAPPY LAB SEGMENT [30:10] Some stuff I’ve recently learned about state of mind, happiness, and confidence.TODAY’S SMART SPRINT SEGMENT [32:05] A challenge for you to highlight 10 books you’ll read next year.RESOURCES MENTIONED IN THIS EPISODE BOOK: The 100 Year LifeJeff Brown’s “Read To Lead” podcast.www.StatisticBrain.comBOOK: Rich HabitsBOOK: EssentialismBOOK: Purple Co

Do you understand the concept of sunk cost? It refers to anything you’ve invested time or money in and afterward discover that the thing is not going to play out the way you thought. It could be an investment, a hobby, a project of some kind, a purchase, even a political candidate. The tendency we have when this happens is to stick with the unproductive thing simply because we’ve sunk so much into it already (the sunk cost). In the long run, it may be better to cut those losses and move on. On this episode of The Retirement Answer Man, I’m going to walk you through a number of areas where you might be your biggest retirement obstacle because of a bias you have regarding sunk costs. Intrigued? I hope so. Let’s do it! Sunk cost bias can keep you stuck when you don’t need to be. There are many reasons we won’t give up on things that are clearly not taking us in the direction we desire, but one of the most prevalent is what is called “sunk cost bias.” It’s when we have invested so much in the direction of a failing effort that we’re unwilling to give up all that investment. In reality, that’s probably the very best thing we could do because it will enable us to move on to more profitable things. If you’re unwilling to admit it you might be holding yourself back from the opportunity to make a bad situation into a better one. This episode is full of examples of how sunk cost bias can cost us and includes a couple of tips to help you get past the losses and move ahead to your goals. Do you need to cut a loser investment out of your portfolio? Sometimes sunk cost bias can be an issue when it comes to investing. Maybe it’s a particular stock or opportunity that we spent a lot of time researching or examining and then finally took the plunge to invest in. But over time it’s become apparent that the investment we thought was going to be such a great opportunity has turned out to be a real loser. It’s hard to cut that investment loose because it reminds us that we misjudged it in the first place - and to cut it loose would be an admission of failure. But hey, we all make mistakes, right? Maybe it’s time to cut it loose, get out of your own way, and start using the funds you have left to build something better? Are you being loyal to your company or are you holding yourself back? Many people stay at the company they’ve been at for years simply because they have invested a good deal of their life in it. I understand that, but when you do so - no matter how you’re treated, no matter what changes have come to the company in terms of compensation, benefits, leadership, training, and more - you may be sticking around because it’s easier to stay than it is to go - and that’s a form of what is called “sunk cost bias.” I think you deserve more than that so on this episode I’m going to give you some ideas of how you can get past those kinds of SCB obstacles to move yourself, your career, and your life forward. To overcome sunk cost bias, get yourself some clear goals. Nothing helps you unpack the baggage that comes with sunk cost bias (the belief that you’ve put too much into something to give up on it now) than having clearly defined goals. Once you’re able to say exactly what you’re shooting for you’ll be able to look at the things that pertain to that category and evaluate whether they are serving your goal or keeping you from it. You’ll be surprised how the simple act of setting clear goals can help you clarify what’s holding you back so you can get rid of it. Sunk cost bias is my topic on this episode of The Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:28] A personal example of why you are your biggest obstacle to a successful retirement.WHAT DOES THAT MEAN? SEGMENT [4:46] What are “sunk costs?”[6:13] An example of sunk cost.HOT TOPIC SEGMENT [9:07] The sunk cost issue even impacts the current Presidential election.PRACTICAL PLANNING SEGMENT [10:32] What is sunk cost bias and what can you do about it?[13:46] How sunk cost bias can impact the realm of investing.[19:19] Career choices can be impacted by SCB as well.[20:34] Your lifestyle decisions can also be negatively impacted by sunk cost bias.[22:20] The power of goals in overcoming sunk cost bias.[23:37] Accepting your own mistakes and proneness toward them is powerfully important.[24:15] Discover your perfect picture of what you want to happen so you can build a plan based on possibility.TODAY’S SMART SPRINT SEGMENT [27:03] In the next 7 days identify something you’ve avoided that no longer fits where you are headed.THE HAPPY LAB SEGMENT [28:18] Dealing with your SCB can make you internally happier, step at a time!RESOURCES MENTIONED IN THIS EPISODE Test “6 shot” to “33444” to get the “6 Shot Saturday” email series.Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

The 2016 Election in the United States is being hailed as one of the WORST campaigns in American history. It’s pretty bad but historically it’s actually not the worst that has happened. The election of 1828 between John Quincy Adams and Andrew Jackson was truly vicious and I for one am thankful that we’ve come a long way from those days. But in every Presidential election cycle, the financial markets are impacted no matter if it’s a good campaign or an ugly one. On this episode, I want to walk you through some of the statistics of how the financial markets react during Presidential election cycles. America’s practice of peaceful transition of power enables a healthier economy. In the U.S. we often take for granted this thing we call a “peaceful transfer of power.” But we shouldn’t. The absence of coups and hostile revolutions has enabled our country to maintain a fairly healthy economy over time due to the consistency that the peaceful transition provides the financial markets. On this episode, we’re going to think together a bit about what happens to the financial markets during a Presidential election cycle so that we can identify the upturns and downturns and do what we can to insulate our investments and finances from the down times. Did you know that financial stress can make you feel older? It seems like common sense but it’s recently been shown that worrying about the financial markets puts a stress-load on your body which in turn causes you to age faster. Sometimes you can look in the mirror to see the evidence (more wrinkles, more gray hair), but other times you notice it in how you feel physically. On this episode, I want to give you 3 strategies for insulating yourself from the ups and downs of the financial markets so that you can live more of a stress-free life. If you want to insulate your finances from market volatility, here are some tips for you. It may not seem like rocket science, and I guess it isn’t, but by having an emergency fund in place you can take a HUGE step toward alleviating the stress that comes from the ups and downs of the financial markets. A well-funded emergency account enables you to stop worrying about whether the car or water heater breaks down because you know that you’ve saved up the cash to take care of those kinds of things. That fund alone will keep you from derailing your carefully crafted plan for income and expenses and investments. You can hear a couple of other ideas for insulating yourself from volatility, on this episode. There will always be financial ups and downs. Should they dictate your happiness? One of the realities of life is that the financial markets will always be volatile. The markets are like the waves of the sea - driven and tossed by any number of things. It’s just how life is. But you and I can take steps to insulate ourselves from those variables so that we don’t have to bear the weight of stress that can come from not having a good, solid strategy in place. On this episode, I’m going to walk you through what typically happens to the markets during a Presidential election cycle and give you some approaches you can adopt to make sure you don’t suffer because of any ups and downs that may come. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:34] My thoughts about our current election and some thoughts from what I’ve read this week.[1:26] The election of 1828 between John Quincy Adams and Andrew Jackson.WHAT DOES THAT MEAN? SEGMENT [5:23] What is a peaceful transfer of power?[6:17] The U.S. holds the record for the longest running peaceful transfer of power.[6:53] How this practice impacts financial planning.HOT TOPIC SEGMENT [8:30] How financial stress can make you older.PRACTICAL PLANNING SEGMENT [12:04] What can you do to insulate your investments from market downturns?[14:42] The reality of market turmoil and the need for insulating your finances.[15:09] How do markets react during an election cycle?[17:50] What happens internationally during U.S. election cycles?[19:07] What happens in emerging markets during U.S. Presidential election cycles?TODAY’S SMART SPRINT SEGMENT [23:23] Look at your taxable investment assets and identify your realized gains for the year so you can offset gains if you need to do so.THE HAPPY LAB SEGMENT [26:46] How we do some fun things for Halloween and my remote control fart machine.[29:40] Why it’s good to be goofy as you grow older. RESOURCES MENTIONED IN THIS EPISODE Market Watch article on financial stress and aging: http://www.marketwatch.com/story/stress-about-money-can-make-you-look-older-2016-10-24Text “6 shot” to “33444” to get 6 Shot SaturdayContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

I love putting out episodes of the Retirement Answer Man podcast because you don’t think about your retirement every day of your life, but I do! I get to experience varied conversations with people from all walks of life about their retirement goals, every day of the work week. That’s a lot of varied experiences - and I love to share them with you on the show. One thing that’s been coming across my desk a lot lately is the very real issue of how life expectancy is going up these days. Why is that a retirement planning issue? Because if you’re going to live longer your retirement goals need to be tweaked a bit to accommodate that expectation. On this episode of the show, I’ve got some things to share about how the retirement landscape is changing, both because of increases in life expectancy and because of cultural shifts that have taken place almost unnoticed. And I’ve got a special guest to introduce you to as well. I hope you take the time to listen. Financial planning is good, but is it the only kind of retirement planning you need to do? When we mention retirement planning we immediately think of finances. That’s a good thing because, without the finances to support yourself in even a meager way, you simply won’t be able to survive. But beyond that, the advances we’re seeing in nutrition, exercise, and medicine are making longevity a reality for more and more people - so you might be living even longer. Sure, that impacts your finances, but it also impacts the number of years you’ll actually be in the retirement stage of life. So you’ve got some new questions to ask yourself that have nothing to do with finances - such as “What will I DO for those extra years, what will my life be about?” On this episode of the podcast, we’re diving into that subject with my special guest, Andrew Scott, co-author of “The 100 Year Life.” How is longevity going to affect your retirement? If you’re going to live longer, then naturally you’ll have more years to enjoy your life - so it’s important that you plan on enjoying it by getting a clear vision of what you want to do and should do for that extra time on the planet. But you also need to consider that it’s quite possible that your retirement age will shift to a later point in your life, allowing you to be a full-time income earner for longer than has been the case in the past. Or, you could decide to do what more and more people are doing these days and take your normal retirement and choose to then spend your time building your own business, based on your experience and interests. It’s like a second career that you actually love even more! More ideas are ahead, on this episode. Are you still living in a 3-stage approach to life? In days gone by we’ve been taught to look at life through what many are calling a 3-stage approach. All that means is that there are three main segments or seasons of life - education - work - retirement. Makes sense, right? The problem these days is that life in the modern world isn’t fitting so nicely into those neat compartments anymore. Longevity for many people is becoming a real thing, and therefore they have the health and stamina to continue contribution to society as bread-winners, innovators, and company-builders. As a result, retirement age is stretching into the late 60s and early 70s. That means that more of life is consumed with production and contribution to society, which is a good thing. The point is that the 3-stage approach isn’t working so well anymore - and my guest today, Andrew Scott has a good deal of solid insights to share from his research into the impact of longevity on the culture. You can hear it on this episode. Retirement is about the experiences of life as much as it is the financial security. I’m the first person to say that you need to be financially secure during your retirement years. But financial security is not the only consideration - and I’d even say it’s not the most important consideration. What’s more important? Let me get to it by asking you a question… What good would it do you to be financially secure in retirement but to have a life that’s not very enjoyable or that you feel is being wasted? It’s more important that the quality of your life is what it needs to be - and what you want it to be - than the amount of money you have to fall back on. The younger generations are getting this one right in a lot of ways. They are buying experiences and finding ways of making meaningful contributions more than working to accumulate wealth. I don’t believe it’s an either-or thing, but I do think we’re a bit out of balance on this one. You can learn more about how I see the issue on this episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:25] Reasons it was easier for our parents and previous generations to retire.[1:40] One of my biggest beef to financial and retirement planning.[2:32] The story of “Who Moved My Cheese?”HOT TOPIC SEGMENT [6:20] Is there a retirement crisis in the United States?

When I think about the way the American Dream is typically carried out, it looks like a “Paint By Numbers” exercise. We’re given specific things we’re supposed to do in life - graduate High School, go to college, get a job, work a long time, save up for retirement, retire. But is that really the way it has to be? And does it NEED to be that way? What if you don’t want it to be that way? What can you do to make the life that you want in retirement? One thing it’s going to take to live the way you want to live and retire in the way you want to retire is courage. On this episode I’m going to walk you through some of the ways I think you can apply courage in everyday things so you can head where you want to go. Find a way to live a life of courage. It will keep you young longer. My friend Dan Miller says that the minute you begin settling down to live a life of ease is the minute you begin to die. That’s because you don’t have any obstacles or challenges to face. You’re going to get soft, flabby, and weak - and potentially lose your motivation for life in the end. And it doesn’t matter how much money you’ve saved up for those retirement years, you’ll fall prey to the same cycle if you’re not living a life of courage. Find out more about the path to retirement that is traveled on a road of courage, on this episode. The Social Security Administration has changed a few things, and you may not like it. There are some rather complicated changes going on in terms of social security policies surrounding the receipt of future benefits. There are some categories of people - about 30% of current SS recipients - who could see their benefits go down in 2017. It sounds scary and really is a concern for many people, so listen to this episode as I try to explain what’s going on. You’ll want to know about this if you depend on social security income in any way. Courage my friends - courage! What’s the real value of having a financial advisor? When you head toward retirement it’s like you’re going on a long backpacking trip. You’re going to be leaving many comfortable things you’ve become accustomed to - such as your career, your regular (larger) income, medical benefits, and more. It’s going to take courage for you to face those changes and it's helpful if you have someone in your corner who understands the road ahead and can give you advice and encouragement about what you’re going to go through. An advisor is a guide, a person who can lead you through the path so you avoid the dangers and make the most of your retirement journey. Should I take my pension or a lump sum amount? This is a question I get often. Many companies do this sort of thing and there isn’t a paint-by-numbers approach that fits every person. If you ever face this scenario there are a lot of things you need to consider - the amounts you’ll receive from each option, what your personal history is with being a disciplined spender, your expectations about the rate of return you could get on the money if you take it in a lump sum, your age and your spouse’s age, and more. It’s yet another place on the path to retirement where you’re going to need to face things that are uncertain and bolster up your courage to make a good choice. I expect many of you will be helped by the options I lay out for this listener, so be sure you listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] My Paint-by-Number story, and how it applies to this episode about courage.WHAT DOES THAT MEAN? SEGMENT [3:22] What is “courage” anyway?HOT TOPIC SEGMENT [5:56] Your reminder to get 6 shot Saturday.[7:42] Why you may experience a decrease in your Social Security benefits.PRACTICAL PLANNING SEGMENT [9:40] Listener question from Howard: What is the value of an advisor?[16:23] Question from Jack: Should I take my pension or a lump sum amount?[25:32] Bob’s question: Can my wife do profit sharing, etc. as a freelancer?[28:33] Another Bob asks another question: Should I add bonds to specific accounts within my portfolio? RESOURCES MENTIONED IN THIS EPISODE Get 6 shot Saturday by texting “Planning to “33444” Street article about SS amounts changing.Contact Roger: http://www.rogerwhitney.com/retirementanswers/

When I speak to clients and potential clients it’s amazing that the #1 fear they have about retirement is not how they are going to support themselves financially, where they are going to live, or what their standard of living will be. The #1 fear I hear from clients is the fear of losing their minds. Dementia, Alzheimer's, and other mental conditions are top of mind for those nearing retirement because they impact the person’s ability to be themselves. On this episode, I’m facing the subject head-on and even have a guest with me to help us understand what we can do things to prevent the onset of those mind-related diseases and conditions. What IS dementia, anyway? On this week’s, “What does THAT mean” segment I’m pulling out the dictionary to discover exactly what it means that a person has “dementia.” I want to take the stigma out of the term so that we can rightly assess how to deal with it and even prevent it if possible. I think you’ll be encouraged by what I discovered as I pondered the possibility of losing my mind. It’s all on this episode. Every single one of us needs to deal with the possibility of losing our minds. None of us can escape aging in spite of the efforts we may have made to avoid it. It’s part of the natural journey of life. But we can do things right now that impact the WAY we age and the type of life we are able to enjoy in the future. One of the things we can address is whether or not we lose our minds through a condition like dementia. On today’s show, I feature a guest, Maggie Moon to talk about what dementia is, how we can prevent it, and why it’s such an important issue to think about now while we still can. I hope you’ll take this issue seriously because aging is not something you can avoid - but some of its effects are things you CAN potentially avoid. The primary way to avoid losing your mind: DIET. You knew it was coming, didn’t you. When it comes to preventing those mind altering conditions like Alzheimer’s and Dementia (and many others) the only thing you can truly do to prevent yourself from experiencing them is to give your brain and body what they need to be strong - and that comes through good nutrition. Today’s guest is Maggie Moon, a registered dietitian and researcher who has extensively studied the issue of diet as it relates to the brain. You’ll find Maggie very engaging and quite helpful in the way she describes the things you can do to ensure that your brain is as healthy as it can be as you head into your retirement years. Happiness is forged one day at a time. If you think of the concept of happiness as something that can exist both now and in the future, you begin to realize that tomorrow’s happiness depends, to a large extent, on the actions you take today. If you’re going to enjoy a fulfilling and meaningful retirement then you have to think ahead and actually DO things today that will lead you there. That’s why I’m talking about a difficult condition that none of us wants to happen to us (dementia) on this episode of the podcast. I want you to be equipped for the happy retirement you’ve always wanted. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:50] My introduction to this episode’s topic: The biggest fear people have.WHAT DOES THAT MEAN? SEGMENT [3:40] What IS dementia?[4:52] Symptoms of dementia & forms of dementia.HOT TOPIC SEGMENT [6:34] Dementia facts and figures.PRACTICAL PLANNING SEGMENT [8:34] My guest today, Maggie Moon, and the prevention of dementia.[12:20] What is the M.I.N.D. diet and why is it important for mind health?[14:02] How Maggie started researching brain and mind health.[18:12] The importance of whole grains in the diet.[20:12] How to understand and implement proper serving sizes.[21:33] The easiest way to make meal planning work for you.[23:36] The intimidation of the kitchen and how to get past the fear.THE HAPPY LAB SEGMENT [25:55] You create a happy life one day at a time.TODAY’S SMART SPRINT SEGMENT [28:03] The challenge to keep a food log. RESOURCES MENTIONED IN THIS EPISODE BOOK: The Mind Diet Bookwww.MindDietMeals.comContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Anyone who is a reader would be happy to give you their “top 10” list of book recommendations. But today’s episode is not about my top 10 - it’s simply a list of books that have had a great impact on my life through the years. Your list will by default be different than mine and that’s OK. I just wanted to put these books on your radar so that if you’re not familiar with them, you might consider them as a resource for your growth as an investor and as a human being. So grab a pen and paper so you can jot down these titles and the synopsis I give of each one - OR you can sign up for my Six Shot Saturday emails and you’ll get them sent directly to you. Either way, I hope this list of influential books is helpful to you. Today I’m giving you 5 investing book recommendations and 5 “other” book recommendations. You’d expect a guy called “The Retirement Answer Man” to give you a list of financial or investment related books for you to read. But those aren’t the only types of books I think you should be reading. There’s a ton of great insight out there into what it takes to be a better and more productive person who makes greater contributions to the world we live in. So I also wanted to give you some recommendations of books that could help you in that realm. And if you’ve got books that didn’t make my list, that’s great! Listen to the episode to find out how you can recommend your favorites to the entire listener community! If you’re not a reader, you’re missing out on a lifetime of education. I get it. For various reasons reading may be difficult for you. But I’m often reminded of the people all over the globe who literally CAN’T read and would give anything to be able to learn the skill. Most of them feel that way because they know that reading and the knowledge that comes from it can change their lives. This episode is an encouragement for you TO read as much as it is my recommendations of WHAT you should read. And don’t forget, audiobooks are now an option for you, so there’s really no excuse to be busy about the work of growth, education, and development in your own life. One of the ways you have to be careful about what you read these days. We are in a new era of publishing. Have you noticed? Now it’s possible for anyone to publish a book of their own making without any gatekeepers at a huge publishing house telling them they can or cannot publish their book. It’s a wonderful opportunity for us regular guys and gals to share the insights we’ve learned throughout life. But just like it’s wonderful that anyone can publish a book these days, there’s also a downside: anyone can publish a book these days. That means there’s a whole lot of junk out there you’ve got to wade through in order to find the good stuff. That’s one reason I’m giving you my book recommendations for investing and personal growth, on this episode. I trust it will be helpful. Do you have book recommendations the listening community might enjoy? Inevitably, when someone shares their recommended reading list with an audience (like I do on this episode) there’s going to be somebody who says, “What? I can’t believe you didn’t include (insert book title)!” It’s impossible to share every influential book, especially because books can have a particular impact on each of us at different times and seasons of life. So I invite you to listen to this episode to share your personal book recommendations in the areas of finance and personal growth. I will compile the list, create a PDF resource, and share it with the community in one of my 6 Shot Saturday emails. Are you game? OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:25] My introduction to this episode about books I’ve read (that you should read).WHAT DOES THAT MEAN? SEGMENT [3:38] What is a “book” these days?[4:50] Some of the disadvantages of the self publishing movement (for readers).HOT TOPIC SEGMENT [6:22] According to PEW Research less Americans are reading these days.[7:29] The age group breakdown: younger folks are more likely to be readers.PRACTICAL PLANNING SEGMENT [8:49] My book list for your consideration, dear listener. :)[10:33] 5 books that have impacted me in terms of investing.[18:59] 5 non-investing books that have helped me.TODAY’S SMART SPRINT SEGMENT [27:52] Email me an investing book and another book that has impacted you. I’ll compile all the recommendations and share them with you via “6 Shot Saturday.”RESOURCES MENTIONED IN THIS EPISODE PEW Research study on American’s and ReadingBOOK: Winning the Loser’s GameBOOK: The Rational OptimistBOOK: The Behavior GapBOOK: How to Lie With StatisticsBOOK: Stocks For The Long Run BOOK: Great By ChoiceBOOK: 20,000 Days And CountingBOOK: Necessary EndingsBOOK: EssentialismBOOK: Living ForwardContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

All of us can become better decision makers but we often don’t realize that one of the most important realms of life we need to do that in is relating to the small things. Small things add up over time to become really big things. Just ask the alcoholic or an inmate in a penitentiary. They’ll tell you that what I’m saying is true. On this episode, I continue my thoughts about how to make better decisions with a focus on the small decisions in life - and I respond to some listener feedback from last week’s episode of the show. I hope you’ll MAKE THE DECISION to listen. :) Are you aware of the compounding effect of small decisions? Every one of us is a decision maker. We decide about things all the time and act on them. Getting out of bed each day. Brushing our teeth (or not). Eating healthy or unhealthy. Every one of these actions flows out of a decision we’ve made. But it’s important that we understand that small decisions like these are not actually small in the long run. They will each have their own little impact that contributes to the whole of our lives. Today’s episode is all about how we can take control of those little decisions that compound over time to ensure our lives benefit from them instead of suffering from them. If you want to be a better decision maker, it helps to define the issue. After last week’s show, a listener wrote me to say that one of the most important parts of his decision making paradigm comes at the very beginning of his process. He takes the time to clearly define the issue he’s dealing with and why it’s important. I see the logic and the wisdom of what he’s saying - do you? If we don’t know exactly what it is we’re dealing with and why it matters we may not be as motivated to make effective decisions about it. That could result in us putting off the decision, or neglecting it. You can hear more helpful listener comments like that and my responses to them on this episode. When making decisions, Tony Robbins suggests you have a conversation with your older self. One of the tips Tony Robbins often gives to people about the topic of decision making is to imagine yourself near the end of your life. You’re still healthy, still looking good, and still have all your wits about you, but you're looking back on a lifetime of experience. What would that older self say to you about the decisions you’re making right now? Is there any wise counsel to be found from that version of you? I can see how this could be a helpful way to get outside the limitations of your current thinking so that you can approach the situation with a fresh perspective. What do you think about this approach? I’d love to hear your thoughts! Decision makers who are effective usually set deadlines for their decisions. When you’re faced with a decision it’s easy to get caught up in the minutia of what it takes to understand the situation and actually make the decision. It’s a paralysis of analysis that we all fall prey to now and then. Effective decision making requires that you set a deadline by which time you will make your decision so that you can avoid that trap. You should be wise about that timeframe so you don’t cut your time frame too short, but a deadline needs to exist. This gives you some internal accountability to not only make the decision but to do the research and investigation it takes to make it wisely. That was a concept one of my listeners sent to me after last week’s episode - and you can listen to today’s episode to hear more listener suggestions just as good as this one. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] My introduction to this episode of the show.WHAT DOES THAT MEAN? SEGMENT [2:39] Today’s word: COMPOUNDING[4:07] The concept of compounding when it comes to decision making.HOT TOPIC SEGMENT [6:13] CNBC reports that a librarian built a huge fortune.PRACTICAL PLANNING SEGMENT [8:58] Listener questions and comments about decision making.[10:15] The importance of defining the issue.[11:41] What would your older self say you should do?[14:25] Making the decision about adjusting your retirement plan due to changes.[17:31] Why deadlines for decisions can be a powerful help.THE HAPPY LAB SEGMENT [20:57] How decision making can improve your happiness.TODAY’S SMART SPRINT SEGMENT [22:29] Make a decision in the next 7 days (big or small). RESOURCES MENTIONED IN THIS EPISODE CNBC article about the Librarian who built a fortuneText “Planning” to “33444” to get “6 Shot Saturday”Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Decision making: It’s been said that not making a decision is actually making a decision. But we tend not to think of it that way because it doesn’t feel like we’re making a decision. It feels safer to go on the way things have been instead of making a change. But is that true? On this episode of the Retirement Answer Man, I’m excited to share some of the things I learned from a recent event I attended that have to do with making decisions that move you toward the goals and results you want to see happen in your life. What I learned is a 10 step approach to decision making that I think will benefit you greatly, so please - for your own sake - please take the time to listen. How inertia can be an enemy to good decision making. I’m no physics professor but I know that inertia has to do with the movement of things that are already in motion. You may not think of it this way but there are many things in your life that are already in motion. Your career. The direction your family is headed. Your financial condition. And much more. Many times the existing inertia in various areas of life becomes an enemy to making good decisions that could move our lives into a better place. On this episode, I’m going to talk about how you can avoid the trap of inertia and make decisions that set you up for a happier and more secure retirement. Intentionality about life is the friend of good decisions. Many times, the reason we don’t make decisions is that we’re not committed to actually DOING the things that are best for our own lives, families, and futures. We’ve got vague ideas of good things we’d like to see happen, but we haven’t committed ourselves to actually seeing them happen. Before you will be able to make good decisions about your future you have got to become intentional about it. You’ve got to become committed. Listen in as I ramble a bit about the importance of intentionality in decision making and give you 10 steps you can use to evaluate and make the best decisions for your life. If a decision moves you away from the vision you have for your life, well... Doesn’t it make sense that if a decision is going to move you away from your life vision, you shouldn’t do it?“But wait a minute Roger, what’s all this talk about life vision? I don’t even know what that is!”Yeah, I get it. Most people don’t have a life vision. On a previous episode, I talked about the importance of having a life vision and how you can go about creating a clear and compelling vision for the rest of your life. And believe it or not, it’s an important compass for the rest of life, including this issue of making good decisions that I’m dealing with on this episode of the podcast. Why don’t you create a good old “pro and con” list for each decision? Many things that we might consider “old” ideas are still around for a reason. They work. One of the 10 steps I give for making good decisions on this episode - it’s #9 - is to put together your own “pro and con” list regarding the decision. Brainstorm it. Write down every advantage and disadvantage to the decision you can. Sometimes this step alone brings enough clarity that you are able to see exactly what you should or should not do. And like I said, that’s just one of 10 steps I share on this episode so be sure you listen. It could help you make the best decision about that thing you’re contemplating right now! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:29] What is your decision making framework?HOT TOPIC SEGMENT [4:54] How do we make a choice about the current election situation?[5:50] Is the situation corrupt or crude? (from an article I read)WHAT DOES THAT MEAN? SEGMENT [7:03] What is inertia?[7:53] How inertia can be an enemy to good decision making.PRACTICAL PLANNING SEGMENT [13:27] A framework for making important decisions.[15:14] Why intentionality is an important beginning step.[17:19] #1 - Trust your gut (at least to admit what it says to you).[18:20] #2 - Does the decision align with the vision for your life?[19:32] #3 - Do your homework. Research what the outcome could be.[20:00] #4 - Consult the important, trusted people in your life.[20:51] #5 - Does a certain decision make you passionate.[21:29] #6 - Do you have the strength to do it?[24:08] #7 - Is it the right timing?[27:09] #8 - Does this align with my personal values?[28:49] #9 - Create a pros and cons list.[29:40] #10 - Ask, “What’s the worst that could happen?”[32:16] How you can get the worksheet for these steps.RESOURCES MENTIONED IN THIS EPISODE Get “6 shot Saturday” by texting “planning” to “33444”www.StrengthLeader.com - Deb’s website Episode about Life Vision Episode about Personal Values Episode about Choosing a Financial AdvisorContact Roger: http://www.rogerwhitney.com/retirementanswers/

It’s not a good things when the financial services industry is freaking out. I mean really - these are people who are giving advice to you about your finances and retirement. Does it make YOU feel good when you see them freaking out? You might be wondering what in the world I’m talking about. It all has to do with a new regulation that’s being passed regarding how people who work in the financial services industry serve their clients and customers - and the people who have the most to lose because of this new regulation are those who haven’t been doing the best job all along. So… there are plenty of people freaking out. You can get the details on this episode because I’m going to tell you about them. :) Do you know what the term “fiduciary” means? The new rule that’s causing such a stir in the financial services industry is aimed at making sure that people who are advising you what to do with your money are only able to directly benefit from the advice they give you when the advice is in your best interest. Serving a client in that way is serving as a “fiduciary.” In other words, these rules are trying to keep advisors from giving you advice solely because it will make them more money. That sounds like a good thing, right? Why you should hold everything close to the vest when you begin a conversation with a financial advisor. On this episode, I’m laying out a handful of tips that I suggest you take into consideration when you’re interviewing a possible fiduciary (financial advisor). I want you to find the exact right person, a financial artist who is able to help you reach your goals for retirement and a happy life. The first of those is that you should hold your details and your situation close to the vest at first. The reason? You want to find out from them who their ideal client is before you reveal much about yourself. When you’re able to do that you’ll know right away if they are describing you or not - and whether there could be some ways that the relationship is not a good fit. Find out more on this episode. Has your financial advisor (or a potential advisor) jumped from company to company? What’s the big deal if a financial advisor you’re considering has jumped from company to company? Well… it could show that the person has functioned as more of a salesperson than an actual fiduciary who works in the best interest of their clients over the long haul. It’s not the only thing you should look at but it could be a tell-tale sign. As I walk through a handful of things you should consider when looking for a financial advisor you should write down a few things so you’ll know the right questions to ask when you need to have that important conversation. Why somebody who is providing you financial services should have an optimistic view on life. Think about this for a minute. What kind of advice will you receive from somebody who works in the financial services industry who has a pessimistic view of the world, or of life? They may be ultra conservative (not a bad thing, but possibly not a good fit for everyone). They may not be willing to make you aware of certain opportunities simply because they don’t think it’s a true possibility. Think it through… there are lots of potential issues. On this episode I want you to follow along as I walk through some potential “red flags” when you start interviewing potential financial advisors. You can thank me later. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:28] Recommended things to do in Chicago and an amazing painting I saw there.[2:35] Comparing the artist to the painter.[4:00] How do you find the artist (perfect financial advisor) to help you manage your investments?WHAT DOES THAT MEAN? SEGMENT [5:08] Today’s word: Artist (when it comes to financial advisors).HOT TOPIC SEGMENT [7:32] Why people are freaking out in the financial industry: new fiduciary rules.PRACTICAL PLANNING SEGMENT [10:24] A few reasons you may - or may not - want a financial advisor.[20:25] 3 guidelines to help you identify a great financial advisor.[25:06] 15 questions you should use to interview a potential fiduciary.[28:36] Why YOU typically do a poor job interviewing potential financial advisors.RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/www.Finra.org - type in the name - get a report.www.SEC.gov - look up professional and disciplinary history.

Economic growth is always a hot topic when election year rolls around. The candidates make it sound like a lack of growth is the worst thing that could ever happen during any President’s term. But is that true? And furthermore, are there actually benefits to having times of economic slowdown or even recession? On this episode of The Retirement Answer Man, I’m answering a handful of listener questions and one of those asks this exact question, “Is economic growth always best for the country?” If you want to hear why I think this listener could be onto something, you’ll have to listen to this episode of the podcast. Nature isn’t always in growth mode, why should the economy always be in growth mode? Part of my philosophy about what we should look for in a healthy economy has to do with the natural cycles that happen all around us. I don’t see many really good things that are always in a state of incredible growth. Every year the seasons change and most plants and even some animals go dormant for a season. It’s a time to refresh, rest up, and reset for a period of rapid growth ahead. Is it possible that a healthy economy is going to have those same up and down times? If so, why should we be so concerned about it? On this episode, you’ll get to hear me wax philosophical about such things and give you some mindsets you can carry into those less than optimal economic times. What to be careful of when combining IRA accounts As most of you know an IRA is a type of investment account that’s referred to as a “qualified plan.” It means that the government has qualified it as an investment you can do where the growth it experiences is tax deferred. It’s a benefit to you in many ways - but that’s not the issue I’m addressing at the moment. Right now I want to point out that if you move money that’s already in an IRA into a different IRA, you need to be careful how you do that. If you don’t you could cause yourself some tax consequences that you didn’t expect and definitely don’t want. I’m going to walk you through it in this episode - including some new guidelines from the IRS that make it a bit easier for you. Should you quit a job you hate or wait it out for the sake of your pension? Most of us know what it’s like to feel stuck in a job that makes you feel miserable. But one of my listeners has it really bad because she’s only a handful of years away from retirement, which would provide a fully vested pension. But she’s not sure if she wants to endure more years of a job she really hates. How should you make a decision like that? As you might suspect I’ve got some thoughts on the situation - and I share them on this episode of The Retirement Answer Man. How would it impact your life if you could invest in deep work? One of the things I’ve been learning lately is that I can be a pretty distracted guy. My smartphone notifications, email sounds, computer pop-ups - all of them contribute to me being “off task” more than I would like. Toward that end, I’ve been reading a book called, “Deep Work” by a guy named Cal Newport, and it’s challenged me to rethink the priority that I give to insignificant little things like smartphone notifications. On this episode, I want to share my thoughts with you about how we can get out of the “Pavlov’s dogs” cycle of responding to every notification and focus more on the things that matter. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:28] What should we be thinking about a slowing economy? WHAT DOES THAT MEAN? SEGMENT [3:10] What is an “IRA Rollover?”[4:05] The importance of understanding the tax “gotchas” relating to rollovers.HOT TOPIC SEGMENT [6:20] New IRS guidelines for IRA rollovers.PRACTICAL PLANNING SEGMENT [8:53] QUESTION ONE: What are the issues to consider when dealing with a job we don’t love?[12:26] QUESTION TWO: Is it always best for us to have economic growth?[15:03] QUESTION THREE: Should I combine all of my IRAs?[17:48] QUESTION FOUR: Should my wife and I have different financial planners?[19:49] A love-hate relationship I have with writing and publishing (and my upcoming book).[21:10] How you can get my “6 shot Saturday” emails (and give your ideas for titling my new book).THE HAPPY LAB SEGMENT [21:36] What IS deep work?TODAY’S SMART SPRINT SEGMENT [23:08] A day challenge: Turn off the notifications on your smart device so you can focus on what’s important. RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/BOOK: Positive Intelligencewww.CareerPivot.comBOOK: Deep Work

Economic growth is the hot button topic during this election. Have you noticed? When politicians, analysts, and talking heads on the news use that term “economic growth” - what do they really mean by it? It’s easy to make assumptions and easy to get lost in the verbiage because it sounds like something we all want. But what if everyone who’s using the term is not meaning the same thing by it? On this episode, I’m going to clue you in on what economic growth really means, how it’s measured year by year, and whether or not we’re in as bad a situation as the politicians are making it out to be. I think you’ll get a lot out of this one. Does a slow period of economic growth make investments more risky? It kind of seems like it would, but is it true? Some very reputable organizations out there do very careful analysis of these kinds of things, taking many different variables and factors into account. On this episode, I’m going to walk you through the findings of one of those outfits to give you an idea of whether or not your investment strategy should change during a time like this when everyone is decrying the poor economy. You might be surprised by what they say. ;) Productivity during retirement is one thing - but I want to enjoy my retirement! I got a little bit of push-back this week from a listener who has heard me talk a lot about being purposeful during retirement as an antidote to a non-enjoyable life. But he’s coming back at me with a different perspective. He actually LIKES being a bit more uninvolved and laid back because he worked so many years non-stop. You might be interested to hear this little one sided exchange as I reply to his reply about my emphasis. Does that make sense? I think you’ll get it so be sure to listen. Should you keep some cash on the side to buy stocks during down times in the market? I think one of my listeners has me confused with somebody else. :) He thought he heard me say that having some cash on hand during bad economic times so that you could buy up underperforming stocks was a good idea. Honestly, I can’t even IMAGINE that I’d say such a thing and am pretty sure I never have. That’s because I don’t feel that having that cash on hand is a good idea - at least not for those reasons. So listen in to my response to this listener so you can know what to do with your cash during down economic times - like this one. I don’t have any trouble setting aside 20% for savings, but where should I put it? I’m very proud of this listener. He’s got no problem living on 80% and saving 20% - he’s just a bit unsure what to actually DO with the 20% he’s setting aside. It’s a great problem to have and an even better question - and I’m going to answer it in a number of ways on this episode. So be sure you listen to learn some of the options for those savings that allows it to be liquid enough for you to access when needed but not so liquid that it’s not doing anything for you. It’s in this episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:29] My introduction of this episode of the podcast.WHAT DOES THAT MEAN? SEGMENT [2:52] What does “economic growth” or “GDP” actually mean?HOT TOPIC SEGMENT [4:22] How is the GDP doing in the United States?[5:50] The reasons why interest rates are low and stimulus packages are a topic of discussion.[6:40] The impact of slow economic growth on the markets. PRACTICAL PLANNING SEGMENT [8:42] QUESTION ONE: How realistic is it to talk with family about “personal values” and how can you state them openly without setting yourself up for failure? And what about contentment in retirement instead of staying busy?[12:39] QUESTION TWO: A listener correction to one of my answers to a listener question about retirement qualifications.[14:06] QUESTION THREE: Is keeping cash on the side in order to buy stocks really a good idea? Isn’t that cash losing more than it’s potentially going to gain?[19:12] QUESTION FOUR: Where do we put the extra 20% we’re saving? It’s hard to know where to allocate it.[21:39] QUESTION FIVE: I only have a bit over 2 years before retirement but I really don’t like my job. Any ideas?THE HAPPY LAB SEGMENT [26:21] Making the life that you want because life doesn’t come to you.TODAY’S SMART SPRINT SEGMENT [28:04] The 7 day challenge: brainstorm one area of your life (an area that’s frustrating you) and figure out what YOU can do to improve the quality of your life in that area. RESOURCES MENTIONED IN THIS EPISODE Text “planning” to “33444” to get 6 shot SaturdayWhat does that mean resource: http://www.investopedia.com/terms/g/gdp.aspHot Topic resource: http://www.cnbc.com/2016/07/29/gdp-us-economic-growth-is-close-tozero.HtmlWork with Roger: http://rogerwhitney.com/work-with-me/

Personal values are really important. Do you know what yours are? It’s easy to respond immediately to the question with a “Sure, I know what my personal values are.” But do you really? I didn’t until I was challenged by my life coaches - Robert Mallon and Bill Watkins - to write down my top 10 personal values. It was HARD, but so helpful. The reason it’s important to write them down is because you don’t know what you’re aiming at if you don’t clearly identify it. But you’ll also tend to live inconsistently from what you truly believe deep down if you don’t clarify the personal values that matter the most to you. On this episode I’m going to walk you through a way that you can identify and establish your top 10 core values and begin to shape your life around them. It will benefit you personally and set you up for a greater sense of happiness as you enter retirement. My early adult years were not lived congruent with who I wanted to be. From early on as a young adult I would have told you that I wanted to be bold, brave, compassionate, loving, a family man, and many other virtuous sounding things. But my wife and kids can tell you that even though I said those things, I didn’t do a very good job at living them out. In fact, I was quite a jerk to the people I loved the most. It took some hard knocks to my hard head to wake me up to the fact that I was not living in congruence with my inner personal values. One of the main reasons was because I hadn’t defined them. On this episode you’ll get to hear the story of my earlier years and what made the difference in the way I see and live my life. And more importantly I’m going to share how YOU can make the changes needed in your life to live in greater congruence with your own set of core values. Why do you do what you do? It’s an important question. It’s one I hadn’t given much thought to until my coaches challenged me to answer it - specifically. When I dug deeper to discover the things that motivated my actions I didn’t like everything that I saw. That’s because I wasn’t always acting in a way that was congruent with my core beliefs. So let me ask you again, why do YOU do what you do? If you would like some help in getting to the bottom of that question this episode of The Retirement Answer Man should prove helpful. If you follow through with the suggestions I make on this episode I believe you’ll come away satisfied and more purposeful for the years ahead. Which is first on your list of personal values, your money or your family? It may sound ludicrous to even ask the question (I hope so) but you don’t really know the answer until you take the time to decide. Many of us work all of our lives to accumulate money and stuff and leave the relationships in the dust. By our actions someone looking on could easily come to the conclusion that we care more about the money than we do the people. If that sounds “off” to you, it should - and on today’s episode I’m going to give you access to a fillable PDF that you can use to determine and write down your top 10 personal values so that you can be SURE you’re living consistent with what you really want out of life. There are lots of things I value in life. But these are my top 10. It may sound a bit artificial to prioritize the top 10 things I value in life - but I did it - and I did it at the suggestion of a couple of life coaches who are helping me get my living (actions) aligned with my beliefs (personal values). On this episode of The Retirement Answer Man I decided to share the results of my “top 10” list with you - not because I have the perfect list of personal values… in fact, yours should be very different than mine - but because my list may serve to help you think through your own list so that YOU can live more congruently with what you truly care about. And I believe that will enable you to live a much happier retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Why many retirement conversations include “Who do I want to be for the rest of my life?”HOT TOPIC SEGMENT [4:10] The distaste for both major candidates in the Presidential race.[5:59] Do these two candidates best represent who WE are as individuals?WHAT DOES THAT MEAN? SEGMENT [6:36] Todays term: CONGRUENCE: The state achieved by coming together.[7:35] Why congruence in life is so important to a happy life.THE HAPPY LAB SEGMENT [10:33] What happens if you start to live a life more congruent with your beliefs and values.PRACTICAL PLANNING SEGMENT [12:44] Why personal development is a focus of this podcast - and why you should focus on it as part of your journey.[15:05] The first steps I took to come into alignment with my own personal values.[16:43] My top 10 personal values (Maybe my example will resonate with you).TODAY’S SMART SPRINT SEGMENT [30:09] A worksheet you can use to identify your top 10 personal values. RESOURCES MENTIONED IN THIS EPISODE www.rustylionacademy.com/answermanStacking BenjaminsContact Roger: http://www.rogerwhitn

Burnout may not be top of mind for you when you’re thinking about retirement. But maybe it should be. After all, you won’t be as productive in your pre-retirement years if you’re subject to job related burnout all along the way. Toward helping you think about your retirement planning in a healthier and more productive way I’ve asked Dr. Clark Gaither to join me. He’s known as “Dr. Burnout” and has studied and become an expert on the topic of burnout. He’s going to help us think through the causes, symptoms, and prevention of burnout and get us on the right track. What IS burnout anyway? Dr. Clark Gaither is an expert on the subject of burnout and says that it comes into our lives often when we are overworked, unsatisfied in our work, and a variety of other things. But what is it, really? It’s that sense of lethargy or weariness you feel - on a chronic basis - that keeps you from being your most productive. On this episode we’re going to dig into the causes of burnout and I’m going to challenge you to check yourself carefully to assess whether or not you’re at risk of burning out anytime soon. And if so, we’ll give you some ideas for what you can do about it. What are the reasons for burnout? Are you experiencing any of them? When I asked Dr. Gaither about the reasons for burnout he walked me through a handful of things that most of us experience at some time or another in our lives. But burnout sets in when they gang up on us and we experience many of them at once. On this episode we’re going to talk through all of Dr. Gaither’s reasons for burnout and I bet you find some of them present in your life right now. If so, what can you do about it? You’ll find out as you listen to Dr. Clark Gaither’s sound advice. What can you do if you’re on the verge of burnout (or smack dab in the middle of it)? Experiencing burnout can be one of the most frustrating and difficult things we go through in life. When you get to that place you’ve definitely got to do something about it - and quick. My guest today, Dr. Clark Gaither is known as “Dr. Burnout,” and he’s got a great set of suggestions for how you and I can address the burnout issues we’re facing and how to put some prevention steps in place to keep burnout at bay and provide a greater sense of satisfaction in our lives. Are you ready? Let’s find out together. Here’s a very practical thing you can do over the next 7 days to assess your level of burnout. On this episode Dr. Gaither shares some of the primary symptoms that people feel when they are experiencing burnout. On my SMART sprint segment of the show today I give you a very practical thing you can do to assess whether or not you are experiencing burnout so that you can have a better idea about what can be done to get relief and experience a fuller life as you head toward retirement. It’s not a hard homework assignment, so make sure you listen and find a way to fit it into your schedule this week. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:39] My introduction to this week’s topic: Burnout - and my special guest.WHAT DOES THAT MEAN? SEGMENT [2:11] What is burnout? HOT TOPIC SEGMENT [4:06] The top 10 most stressful jobs and the 5 LEAST stressful jobs.PRACTICAL PLANNING SEGMENT [7:01] Dr. Clark Gaither: who is he and why is he a specialist on the topic of burnout?[8:00] How Dr. Gaither discovered his own level of burnout and what he did to help.[13:07] Job related burnout symptoms you should know about.[16:20] The things people do to “act out” when they are experiencing burnout.[17:45] The good news and bad news with job related burnout.[19:23] The 6 main causes for job related burnout.[22:43] How to reignite yourself if you’re facing job related burnout.[30:27] How to learn more about Dr. Gaither.TODAY’S SMART SPRINT SEGMENT [32:25] Today’s challenge: For 7 days, write down what burnout symptoms you have.THE HAPPY LAB SEGMENT [31:13] Self care is important to prevent burnout… what can you do?RESOURCES MENTIONED IN THIS EPISODE www.DrBurnout.com - Dr. Gaither’s websiteDr. Gaither’s BOOK: Powerful Words Burnout InventoryContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Retirement age is approaching faster than most of us want to admit. It will be here before you know it - and one of the most common things I hear from people who have moved into their retirement years is this: “I don’t feel very secure.” I used to think of retirement age security as an issue of dollars and cents, but it’s more than that to me now. I’ve come to understand that whether or not you feel secure during retirement has more to do with the way you’ve approached your retirement planning. On this episode I’m going to chat with you about what it means to have a secure retirement, unpack some distressing news about a pension fund company going belly up, and give you some homework for what you can do to toward more security in your retirement years. A huge pension insurer is now broke! What now? Well the news came out this last week that a major insurer of pension funds all across the United States is now broke. Now we could discuss how something like that is even possible but in the end we’d only be more frustrated. I think it’s a better approach to figure out what we do now that it’s happened. It is reality after all. So on this episode I walk through 6 possible options that will be tried to fix the problem this news reveals and will show you why I think it’s going to take a combination of all 6 to right the ship. You can hear it by clicking “play” on this episode. What is YOUR ideal retirement age? So many people look forward to retirement - and who can blame them? A lifetime of hard work and providing for a family definitely puts a person in a place where they’re ready for a break. But it’s a common thing for the retirement age of many people to be delayed simply because they’ve not done adequate planning for the inevitability of retirement. I’m here to help you avoid that if I can. On this episode we’re addressing the subject of having a secure retirement and I’ve got some suggestions that may be of interest to you, so I hope you take the time to listen. SIPC insurance? FDIC insurance? What the heck does that mean? On this week’s “What does that mean” segment I’m diving into the insurance ocean to give you an idea of what all these acronyms and insurance companies do, why they exist, and the difference it makes to your investments and bank accounts. If you’ve ever wondered about the limits on these insurances - I’m going to tell you. If you’ve ever asked yourself if you should have multiple accounts to keep them all under the limits - I’m going to give you my take on that as well. I think you’ll learn a lot from this one, so be sure to listen. Regular conversations and adjustments make for a more secure retirement. The clients I’ve worked with who make a regular commitment to discussing and tweaking their retirement funds and investments are the ones who typically seem to be more content and happy during those golden years. If you are concerned about whether or not you’ll have a secure retirement, you might take a page from these experienced retirees. They know that communication and planning can do a lot to alleviate fears because it helps them know the facts about their retirement to counterbalance the fears. You can hear more about how these savvy retirees handle things in stride, on this episode. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:32] The issue of security during retirement: more than dollars and cents.[2:59] Today’s episode will cover insurances, etc. to help you be secure during retirement.HOT TOPIC SEGMENT [4:11] A huge pension insurer is now broke. Liabilities are 27% over assets. Ouch![6:15] The implications and consequences of the news.[8:20] The possibility of a government bailout (or a combination of various options).WHAT DOES THAT MEAN? SEGMENT [10:24] Today’s term: SIPC Insurance (Securities Investor Protection Corporation).[13:20] Examples of how SIPC protection might be protected.PRACTICAL PLANNING SEGMENT [14:44] Three listener question.[15:00] QUESTION ONE: Can you explain the limits on FDIC insurance? Should I break up my accounts for the sake of insurance?[23:02] QUESTION TWO: Social security benefits for spouses when one takes the benefit early and the other spouse passes away?[24:40] QUESTION THREE: Can my wife access her 401K now that she’s 55 even though she lost that job at age 54?THE HAPPY LAB SEGMENT [26:03] My happiest clients are the ones who make adjustments as they go.TODAY’S SMART SPRINT SEGMENT [27:52] Get out your calendar and schedule a series of conversations with your spouse or yourself about what you’re trying to accomplish. RESOURCES MENTIONED IN THIS EPISODE www.FDIC.orgContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

One of the biggest pitfalls of being an investor is that we tend to make emotional investing decisions. What does that mean? Take a scenario for a moment: the market takes a serious dip and stock prices plummet. The tendency the majority of investors have is to rush to their advisor and try to make changes in order to mitigate the impact of the downterm. But if that investor was guided wisely in the first place their investment strategy should have taken into consideration that downturns would happen. That means there’s no need for an emotional reaction that could cause more harm than good. On this episode of The Retirement Answer Man I’m chatting with Dr. Daniel Crosby about his book, “The Laws of Wealth” and we’ll unpack the best ways to avoid making emotional investment decisions. Behavioral Finance: What the heck is that? The field of behavioral finance is a fairly new area of study that endeavors to make sense out of the actual behaviors we humans engage in within the financial realm of our lives. And naturally, it includes the issue of emotionally driven decisions we make about our finances. As behavioral finance experts like today’s guest, Dr. Daniel Crosby investigate the things that go into our financial decisions they’re discovering many helpful principles that we can apply to keep ourselves from making decisions that feel like they are in our best interest, but really aren’t. I hope you listen to this episode. There’s lots of insight into the reasons behind our financial decisions in it, and you can make better decisions as a result of applying what you learn. You control what matters most when it comes to your money. One of Dr. Daniel Crosby’s laws of wealth that can go a long way toward helping you avoid emotional investing decisions is that you are able to control the things that matter the most when it comes to your money. It’s not about the economy and things outside your control, it’s about your end goals - those things you’re aiming at over the long haul. Your decision to create an investment strategy and stick to it day by day even in the face of economic issues that arise, can help you to stay in control over the long haul and actually reach those goals. Dr. Crosby shares a wealth of good information on this episode to help you improve your financial mindset, so be sure you listen. Emotional investing is why you need to remove yourself from the process. It may sound counterintuitive for me to say that you need to remove yourself from the investing process - but I really mean it. I don’t mean that you should just hand all the decisions over to someone else. What I mean is that once you have determined a process that makes the most sense for your investment goals, you should get out of it and let it run independent of you. That’s where your advisor or financial professional comes in. They are the ones who stick to YOUR plan, at your direction, without you having to think about it. They are also there to caution you when the urge to step in and change things arises. Those are the kinds of emotional decisions you don’t want to make so that you can reach your long term financial goals. You need a financial advisor, but not for the reasons you think. Most people tend to think that financial advisors are better at predicting the future of the markets or possess specialized knowledge that will help you make better stock picks and investment decisions. While there may be a very small amount of that involved, most of the time it’s not the case. A good financial advisor should be in the loop simply because you need them to be your point of accountability and voice of reason in the event that you want to make an emotional decision based on current conditions. They are there to talk you down from the ledge and keep you on track with the financial plan you’ve established. Think of them like a personal trainer. They are there to keep you going when you want to quit or make a change. You can learn more tips like this on this great episode, so take the time to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:47] How life is about moving onward and upward.HOT TOPIC SEGMENT [4:10] CNN’s “Fear and Greed” index is pretty high right now.WHAT DOES THAT MEAN? SEGMENT [6:00] What is “Behavioral finance?”[7:00] Why the optimism investing is usually based on is not a trustworthy metric.PRACTICAL PLANNING SEGMENT [8:53] My introduction of Dr. Daniel Crosby and today’s topic.[10:03] Why do we make poor decisions when it comes to money?[12:11] The way things used to be in the investing world and how we need to retrain ourselves.[15:46] Stepping past the emotional components of investment decisions.[20:16] Dr. Crosby’s 10 guidelines for managing wealth.[29:03] Why Dr. Crosby is often asked to say stupid things that he won’t say.[31:23] What investors should do to invest wisely for the future.THE HAPPY LAB SEGMENT [33:32] How we react to things that happen… and how it impacts happiness.[37:11] How being

One is the loneliest number, right? It’s hard to think about retirement without honestly assessing the possibility that loneliness could be a very real aspect of it. But does it have to be that way? Not if I can help it! I’m Roger Whitney, the Retirement Answer Man and on today’s episode of the podcast we’re veering away from our normal financial topics to continue investigating the ways that technology can help us during our retirement years. Today’s topic is how we can combat loneliness by the use of technology - and we’re not talking about robot companions here, we’re talking about how tech can help you build true connections with real people. This one is going to be fun! What is chronic loneliness? Could you experience it as you grow older? Fortune Magazine recently published an article that demonstrated that the chronic loneliness (ongoing loneliness) is becoming epidemic in certain demographics of the population. It only make sense that as we age - and those closest to us may be passing away - we could be left right in the middle of those statistics. I don’t want that to happen to you, so I’ve asked my friend Doug Goldstein to brainstorm with me a bit about how technology can be a helpful tool in keeping us out of the pit of loneliness as we enter and live in our retirement years. If you find yourself resistant to the topic of technology, this conversation will be a bit different, so I dare you to give it a listen. Have you considered how Facebook can help you stave off loneliness? With all of the things you see on a typical Facebook feed - from stupid cat videos to inspirational quotes - it’s easy to forget that it is part of what’s called “social” media. The original intention was to help people connect with each other, to amplify existing relationships. And user stats show that the over 65 crowd on Facebook is growing. That’s really good news. It means that you can use that simple platform to stay connected with friends, family, and even find groups of people that share the same interests as you - both now and as you enter and thrive during retirement. Find out how my friend Doug and I view that possibility, on this episode of the Retirement Answer Man. Are you ready for a baby step into the realm of technology - for the sake of beating loneliness? A couple of weeks ago I was eager to see the deck that my son-in-law has been building so he did something really amazing - he invited me to a video call so I could actually get a digital tour of the work he’d been doing. It was great - and easy - for me to be a part of his life in a way I couldn’t have just a few years ago. Video calling is pretty mainstream these days and the learning curve is actually quite low. If you want to learn a bit about technology you might want to consider Skype or Facetime as video options that are easy to learn and can help you stay connected to the people who care about. Social media won’t help if you aren’t social in the first place. My friend Doug Goldstein makes a great point on this episode of The Retirement Answer Man - if you are not skilled at good communication and personal interactions, improving those skills is really the first step you need to take in order to combat the possibility of loneliness during your retirement years. Relationships are built on communication, so it only makes sense that improving your ability to connect with others through communication will make your ability to connect via social media or other technologies that much easier. You can find out more about this topic of technology, retirement, and loneliness by listening to this great conversation. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:46] I’ve often felt lonely during my life - and how it relates to this episode.WHAT DOES THAT MEAN? SEGMENT [3:54] Today’s term: Chronic loneliness.[5:15] Why chronic loneliness is one of the biggest risks of retirement.HOT TOPIC SEGMENT [5:56] A Fortune Magazine article about the chronic loneliness epidemic.PRACTICAL PLANNING SEGMENT [8:22] Introduction of Doug Goldstein and the subject of technology and retirement.[9:55] The reality of retirees who become the “last man standing.”[12:19] The importance of renewing and refreshing networks of friends.[15:20] How Facebook helps the over 65 crowd stay connected.[21:45] The usefulness of meetup.com.[26:40] The first baby step into the world of technology: video calls.[29:00] Looking at virtual reality technology.[33:23] The importance of basic communication skills.THE HAPPY LAB SEGMENT [33:59] Go out and make some friends!TODAY’S SMART SPRINT SEGMENT [34:28] Call one of your best friends you’ve not spoken to in a while. RESOURCES MENTIONED IN THIS EPISODE Fortune Magazine article on chronic lonelinessGoldstein on Gelt Podcastwww.MeetUp.com - search for groups in your area by locationStrava AppFitbitSkype or FacetimeContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retir

Do you remember your very first car? Do you remember the feeling of freedom and responsibility it gave you? The kind of mobility that comes from having and driving your own vehicle is something that many of us have been enjoying for 30 to 50 years. Have you taken the time to consider the impact that it could have on your life if you were to suddenly (or eventually) be limited in those ways because of declining eyesight, medications, hearing issues, etc.? Those are not things we enjoy thinking about but that we have to consider when it comes to planning for retirement. On this episode I’m chatting all about mobility in retirement and how technology can impact that need in the future. Ride Sharing may sound strange, but it really works! I was recently in Chicago for a conference and whenever I had to go anywhere I used a service called Uber. It’s a way to use a smartphone app to make a connection with a driver in the area who is willing to take me where I need to go. It was a great experience overall and there are many safeguards, including reviews, that enable the service to be trustworthy and dependable for you and can save you the hassle of having to drive or removing the actual need to drive. The reality is that if you’re willing to learn a very simple app, you can have a great opportunity for mobility as you enter retirement even if you’re not able to drive. Hear more about how it can work for you, on this episode of The Retirement Answer Man. Retirement cost savings because you don’t need your own automobile. Betcha didn’t think about that. If you are willing to embrace and use services like Uber and Lyft to remain mobile as you move into retirement you may be able to save money in other areas that you haven’t considered. If you don’t need an automobile, you’ll save on title and registration fees, safety or emissions inspections, auto insurance, gasoline, and the actual cost of purchasing the vehicle. Those savings could not only add to your checkbook but could also increase your quality of life because you have less income tied up in things you don’t really need. I’m going to chat a bit about that on this episode so I hope you’ll listen with an open mind that is looking at the possibilities. Self Driving cars are not the wave of the future - they are here now. I’m not quite sure that I’m ready to jump into a self driving car just yet, but they are out there on the streets already. In fact, Google has been working on this for many years and has had a fleet of self driving cars that have logged hundreds of thousands of miles on California roadways. In the near future it’s quite possible that self driving cars are the norm rather than the exception and it would be good for us to think now about how we are going to respond when that day comes. Are we going to take advantage of the benefits such technology could bring, or are we going to be a stick in the mud. Afterall, air travel was once unheard of and considered unsafe… but look at us now! Will you embrace the benefits technology can bring to your retirement or will you be the one to hate it because it’s new and unfamiliar? The stereotypical impression people have of us “old folks” is that we’re resistant to technological changes - like computers, smartphones, etc. I wonder if that’s really true? The wisdom we, as the older generation, have could enable us to see that the benefits of many of the technologies that are on the horizon far outweigh the learning curve or risk factors that we think are involved in adapting ourselves to this “new age.” I wonder if you will be willing to learn, to grow, and to benefit from it as you enter your retirement years? I plan on doing my best to stay flexible, learn, and get the most out of the options that come my way. Who knows, it might even make me happier and enable me to enjoy retirement all the more. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:33] Roger’s introduction to this episode of the podcast.WHAT DOES THAT MEAN? SEGMENT [4:13] Today’s term: Driverless CarHOT TOPIC SEGMENT [6:04] The first death from a driverless car.[7:17] The autopilot system involved in this accidentPRACTICAL PLANNING SEGMENT [8:32] Most of the things I’ve mentioned so far are already here.[9:21] The need for mobility in the retirement years and how it impacts quality of life.[11:10] The devastating impact of losing mobility.[12:32] How technology can improve mobility in our cars.[18:15] Car sharing options that exist now and will be prevalent in the future.[25:20] How driverless cars could be a solution to mobility issues.[28:30] Grocery getting services you may be interested in.[32:35] Are you going to embrace these new technologies to make your life easier?[33:45] Emails from listeners.RESOURCES MENTIONED IN THIS EPISODE The MIT Age LabUberLyftInstacartPeapodContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www

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, you’re going to find the benefits far outweigh the fears you might have. So be sure to listen, pick out a product or service you are willing to try, and give it a shot! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] My welcome and introduction to this episode of the podcast.[3:00] A preview of the next few episodes.WHAT DOES THAT MEAN? SEGMENT [4:00] Today’s term: “Internet of Things.”HOT TOPIC SEGMENT [5:37] Samsung is investing $1.2 million in the Internet of Things.[6:00] Why would such a large company make that kind of investment?PRACTICAL PLANNING SEGMENT [7:44] Why do you enjoy technology? (or do you?)[9:13] The MIT Age Lab - a look at technology for older people.[9:55] 3 questions that predict the quality of your life in the future?[12:22] How is technology going to help us maintain independence in our own homes?[23:30] Services that could help us remain independent as we age.[33:00] Tying things together: Amazon Echo.THE HAPPY LAB SEGMENT [37:33] What’s the PURPOSE of living longer?[38:45] Purpose can be large or small.TODAY’S SMART SPRINT SEGMENT [39:55] Test out a couple of the services I mentioned on this episode.RESOURCES MENTIONED IN THIS EPISODE The MIT Age LabThe NEST Thermostat A Smart MattressSmart Doorbells (with cameras) Smart LightbulbsSmart Carpet Smart Ref

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 European Union.[12:15] Why did Britain vote to leave the EU?[13:55] Why I say that the markets hate surprises like this.[15:04] What happens now?[16:57] What worries are coming up as a result?PRACTICAL PLANNING SEGMENT [18:57] 5 things the BREXIT means for your retirement.[19:45] Why uncertainty is here to stay and we need to deal with it.[20:22] SMART sprints where we can make changes.[22:22] Focusing on the relationships in your life.[24:30] Health is a second area for a SMART sprint.[26:53] A SMART sprint in your professional life.[28:49] The financial area needs a SMART sprint of its own.[30:30] Why cash is now king.[34:08] It pays more than ever to work part time during retirement.[36:46] The European markets may be a great buy.[38:14] How you manage risk could be impacted by BREXIT.THE HAPPY LAB SEGMENT [51:30] Who cares about the stuff?TODAY’S SMART SPRINT SEGMENT [53:00] Monitor your spending over the next week to assess your vanity level.RESOURCES MENTIONED IN THIS EPISODE The Cliff Ravenscraft ShowContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/Retire

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. Can you combine your retirement accounts? And should you? On this episode of The Retirement Answer Man a listener wrote in to ask if he should combine his retirement accounts. He’s near retirement and doesn’t believe he’ll be making any additional contributions to any of the accounts, so he’s curious if there are advantages or disadvantages to putting all of those funds in one pot. It’s a great question and I recommend that he does combine them, for a handful of reasons. You can hear what those reasons are and how I got to that conclusion on this episode of the show. 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,” a combination of “Britain” and “exit.”HOT TOPIC SEGMENT [3:47] Britain is set to vote about staying in the European Union or not.[4:37] The primary concerns relating to Britain’s possible move.PRACTICAL PLANNING SEGMENT [6:01] Listener question: Caring for a disabled adult child as retirement nears, any thoughts?[14:44] Listener question: 3 retirement accounts: I won’t be making any more contributions, can I combine all three?[17:03] Listener question: Can I access retirement accounts if I retire before 55 ½? THE HAPPY LAB [22:21] The power to say “Yes”

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 Social Security.[14:05] When some Social Security benefits could be taxed.[15:59] Does it make sense to “spend down” assets in light of Social Security?[17:50] Are more big changes in Social Security ahead?[19:46] Should Baby Boomers be concerned about Social Security?[21:14] Where you can find Emily’s book.RESOURCES MENTIONED IN THIS EPISODE Pension fund cuts link: http://www.zerohedge.com/news/2016-04-20/going-be-national-crisis-one-largest-us-pension-funds-set-cut-retiree-benefitswww.EmilyGuyBirken.com Emily’s book: Making Social Security Work For YouRoger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

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.[22:01] Why flexibility is a powerful tool for investments and chess.[25:43] Watching out for the ruses and scams.[29:35] The primary take aways from Doug’s book.[30:48] 64 strategies to make you as rich as a king.[31:16] How you can connect with Doug.TODAY’S SMART SPRINT SEGMENT [32:08] Write out your investment strategy - and sent it to me if you would like! RESOURCES MENTIONED IN THIS EPISODE www.RichAsAKing.com and www.GoldsteinOnGelt.com Doug’s BOOK: Rich As A KingBOOK: Half TimeContact Roger: http://www.rogerwhitney.com/retirementanswers/The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

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 agents and insurance. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:26] Roger’s introduction to this episode of The Retirement Answer Man.[1:39] Roger’s experience with Brian CertainWHAT DOES THAT MEAN? SEGMENT [3:04] Today’s term: Risk Management.[3:44] Identifying and prioritizing the risks in life (and in retirement).[4:20] The key to the risk management process - mitigation.[5:39] Transferring risk to others (companies).HOT TOPIC SEGMENT [8:02] Auto insurance rates are rising at rapid rates.[8:30] How claims are driving costs up.[10:13] The possibilities of insurance costs changing further.PRACTICAL PLANNING SEGMENT [10:50] Brian Certain’s approach to risk management and liability.[12:42] Assessing where your assets are for the sake of risk management.[14:30] How a normal person approaches auto insurance amounts.[17:22] What is a personal umbrella policy and what is it for?[21:16] What sort of “net worth” are we talking about when doing risk management?[22:05] Understanding deductibles and why they are in place.[22:50] Looking at additional form

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 www.RogerWhitney.com 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? SEGMENT [9:24] What is “the sharing economy?”[10:25] An example of the sharing economy in action.PRACTICAL PLANNING SEGMENT [12:48] Roger’s introduction to Glenn Carter from The Casual Capitalist - and this topic.[13:50] What Glenn means when he talks about “The sharing economy.”[15:57] How can the sharing economy be an opportunity for Baby Boomers?[18:30] How the sharing economy helps meet a fundamental need for Baby Boomers.[20:52] Income averages for people who are “sharing economy workers.”[21:58] Examples of sharing economy platforms.[34:27] Tips for using the various platforms that exist.[35:40] How you can use the quiz Glenn offers.TODAY’S SMART SPRINT SEGMENT [36:57] Check out the sharing economy websites so you can learn how they work and what they are.RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerManwww.TheCasualCapitalist.com/DigitalSenior - Glenn’s website and his offer for you.www.AirBNB.com - Housingwww.AirDNA.co - Housing reviews and needswww.Uber.com - Driving and transportationwww.TaskRabbit.com - Handyman or

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?[29:57] Why the pure science of asset allocation is not enough.[31:28] Things you can do to mitigate the risks.[35:02] The strategy of using “floating rate” bonds.[36:56] What about a “bond ladder?”[39:15] Roger’s thoughts about a “barbell” approach to bonds.TODAY’S SMART SPRINT SEGMENT [40:50] Today’s challenge: Assess your fixed income investments. RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan Marketwatch article mentioned in the show

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 Security disability.[18:35] 3 things to do regarding your Social Security benefits.[21:54] How you can check your SS earnings every year.[24:00] Will Social Security be around in years to come?[29:08] Understanding how Social Security is taxed and why it’s important.TODAY’S SMART SPRINT SEGMENT [33:52] Register and get your Social Security earnings history. RESOURCES MENTIONED IN THIS EPISODE www.SocialSecurityIntelligence.com - Devin’s website.Set up your own SSA account: https://secure.ssa.gov/RIL/SiView.doContact Roger: http://www.rogerwhitney.com/retirementanswers/The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Retirement Planning is what thisshow is about, and I’m glad you’re here to be a part of theconversation. I’m Roger Whitney, The Retirement Answer Man and thisis the show where I seek to guide you through my years ofexperience as a retirement planner into not only planning for theretirement of your dreams but toward living the life of your dreamsnow. On today’s episode I want to chat a bit about the #1 regretpeople have when they are coming to the end of their lives - and Iwant to do it so that you can think about the kind of life you’reliving and make course corrections now so that you can be true toyourself.What does it mean to live a life that is true toyourself?Many people have dreams anddesires when they are young about what they want to do and bethrough the course of their lives. But things come up -expectations, responsibilities, needs, tragedies, and the course oflife gets reshaped over time. On this episode we’re going to lookinto the question of what it would mean to live a life true to whoyou are and discover some ways that you could be living to pleaseothers instead of living out the purpose for which you are on theplanet. Sounds a bit deep, but trust me - it is a conversation thatcould reshape the way you think about retirementplanning.Life is meant to be lived, not tiptoedthrough.It is vitally important in lifeto care about people. You might even say it’s the reason we’re onthe planet in the first place. But sometimes caring out what peoplethink of us and the things we are doing in life can lead us down apath 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 thatare placed on us during the seasons of our lives and how each ofthem could prevent us from living out our true calling, if we’renot careful. I think you’ll have some great food for thought fromthis episode.Retirement Planning is all about positioning yourselfto truly live.Many people approach retirementplanning as a sort of exercise in fear-avoidance. They plan aheadto avoid the pitfalls and fears that could happen during theretirement years. That’s great, and well worth doing - but you’rebeing underserved if all you’re being advised to do is stockpilethings so that you can be comfortable during your retirement years.I think it’s wise to approach retirement planning with a view towhat you want to be doing in the later years of your life that willallow you to continue being a blessing and contributor to theworld. When you have that kind of larger view, a world ofpossibilities open up. Do what you can to make some time to listento this episode. You’ll be glad you did.Maybe, just maybe the economy is on therise.Many companies are beginning topost their earnings right here after the first quarter of 2016, and74% of them are posting gains. That’s good news for the Americaneconomy overall, but there are some very interesting things withinthose numbers that give a bit of concern. For example, for thefirst time in 9 years, Apple computer posted a loss for the firstquarter with iPhone sales being down significantly. What does itmean for the economy? I’ve got some thoughts about it (as you mighthave guessed) and I’m going to share them with you on this episodeof the podcast.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWERMAN[0:24] Roger’s introduction to this episode andwhat you can get from “Six Shot Saturday.”THE “BE HAPPY” SEGMENT[2:43] The biggest regrets of those about todie: a summary.[4:35] Many people say, “I wish I’d lived trueto myself, not what others expected.”[9:34] What are the expectations YOU are tryingto live up to?[12:32] How retirement planning enables you tobe true to yourself and the life you are meant to live.[14:50] The courage to let others bedisappointed in us.TODAY’S SMART SPRINT SEGMENT[15:41] What are you doing based on others’expectations?[16:32] How can you extract yourself from thosethings?HOT TOPIC SEGMENT[16:54] 74% of companies are showing earningshigher than expectations.[18:00] Apple Computer is down for the firsttime in 9 years.WHAT DOES THAT MEAN? SEGMENT[19:14] What is a benchmark?[21:00] Why benchmarks can be misleading and abad source for good decisions.PRACTICAL PLANNING SEGMENT[23:28] John asks about creditor protectionwhen rolling over funds.[24:47] A recent Supreme Court ruling regardingIRA protection against creditors.[25:23] How do widower benefits for SocialSecurity work?[26:45] A young listener asks about hisinvestment strategy.RESOURCES MENTIONED IN THIS EPISODEContact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learningcenter: www.RogerWhitney.com/learnThe Retirement Answer ManFacebook page: www.Facebook.com/RetirementAnswerManHappy Lab link: http://www.theguardian.com/lifeandstyle/2012/feb/01/top-five-regrets-of-the-dying Hot topic Link: http://www.factset.com/websitefiles/PDFs/earningsinsight/earningsinsight_4.29.16What’s That Mean link:http://www.investopedia.com/terms/b/benchmark.aspwww.Soci

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 you 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 effort 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 episodes 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. 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 [16:54] Learning from the mistakes of others.[19:48] Why learning from others’ mistakes during retirement is so important.[20:14] Don’t neglect your spending plan (budget).[22:47] Is wealth maximization the right focus for a retiree?[27:38] Do you really need to support those adult children?[29:55] Is that big home still necessary?[32:10] The ostrich is the only one who should have his head in the sand.[34:34] You’ve got to learn not to run for the exits so quickly. RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerManHot Topic link: http://www.marketwatch.com/story/jobless-claims-fall-to-42-year-Low-2016-04-21 What Does That Mean Link: http://www.investopedia.com/terms/f/fund-flow.asp

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 friendsAnd 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 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, put 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 WeekLast week major world oil producers met in Qatar to discuss a production free. 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 PlanningOn 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!

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. [bctt tweet="Let's face it. #Friends make life a lot more fun. Keep yours as you grow old." username="@roger_whitney"]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.[bctt tweet="Learn why you want your advisor to be a #fiduciary http://bit.ly/1VgLSkH" username="@roger_whitney"]Hot Topic This WeekMarketwatch.com reported last week that the Department of Labor’s 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]

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?[13:12] Huge predictions like this need a more well-rounded perspective.[13:35] Remember that these predictions are focused as a promotional piece around someone’s brand.WHAT DOES THAT MEAN? SEGMENT [14:17] What does it mean when we say, “Talking your book?”PRACTICAL PLANNING SEGMENT [16:03] Jill Davis is my guest today - an expert in personality assessments.[17:13] Why would anyone want to do a personality assessment?[19:08] The reason for finding clarity about your personality.[19:28] What is the DISC theory of personality assessment?[21:41] My results from taking the DISC assessment.[22:29] How it’s good to have a partner who is opposite of you.[24:03] Understanding others through a personality assessment.[26:09] The benefits of couples and partners understanding each other’s personalities.[26:58] The ways personality assessments can be misused.[29:20] How personality impacts communication and sharing.[31:57] How to connect with Jill. RESOURCES MENTIONED IN THIS EPISODE www.TheWorkshopBox.com - Jill’s website AND Jill(at)JillDavis(dot)comThe MarketWatch article by Robert Kiyosakiwww.RogerWhitney.com/RPL - Find out more about retirement plan live!Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

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 and the moment I get it my interest in it seems to wane. It's almost like the purchase itself decrease is 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. :)HOT TOPIC SEGMENT [6:37] The positive turn on the S&P 500 and the price of oil.[7:46] The political climate is beginning to calm down.[8:10] What does all of this change mean to us?[9:26] The reality that there will always be drops and corrections.WHAT DOES THAT MEAN? SEGMENT [10:46] What is an “I” bond?[12:30] The two ways “I” bonds pay interest.[14:11] The maturity range of “I” bonds and what happens if you get out early.[15:50] Why would you even consider an “I” bond?PRACTICAL PLANNING SEGMENT [16:40] Learning about Real Estate from Mark Ferguson.[18:15] The basics of investing in real estate.[19:32] How rentals can make you money (being cash flow positive).[20:19] Where most of the mistakes happen.[21:34] How to buy rental homes that are cash flow positive.[22:58] The costs on rentals that can eat up your profits.[23:45] The biggest mistakes investors make on rental properties.[25:54] The necessary checks you MUST MAKE when finding tenants.[26:48] What you can do if you’re not in a great rental market.[28:06] The biggest problems with investing in rentals in unfamiliar areas.[29:56] How Mark handles properties in other areas that he’s interested in.[31:12] How to find the right team to help with necessary things.[32:19] The WRONG person to get into real estate rentals.[34:40] What Mark means when he says you have to “buy it right.”[36:20] Mark’s articles and resources to help people learn how to invest in real estate.TODAY’S SMART SPRINT SEGMENT [37:57] What is an “affirmation” and how can they be used ef

I’m so thankful - SO THANKFUL - that you have joined me once again for The Retirement Answer Man show. I’m Roger Whitney, certified financial planner and your host for the show. If you’re new to the show, I’m glad you dropped by and encourage you to dig into the many resources I have available on the website for your retirement education and planning needs. On this episode I’ll answering a listener question about paying off his mortgage when retirement is looming, what it means to approach your investments from a “market timing” perspective, and how you can be happier by preparing for future growth. All that and even more, on this episode. If we’re going to be happy in retirement we have to prepare for the inevitable losses that will come. The older I get the more I realize that things are going to change - and not always for the better. I’m already feeling that I’m losing my ability in various areas that are important to me, most notably in the endurance and strength I have when doing some biking. I’ve also been reminded lately through the experiences of some friends that people, pets, and other things are going to pass on as life continues. Have you ever considered what effect those things are going to have on you during retirement? More importantly, have you considered how you’re going to deal with them and still remain happy? On this episode of the Retirement Answer Man I’m going to give you my approach to that issue and how I think it could help you be happy during your retirement years. It appears that the Federal Reserve has changed its mind - again! You likely remember the big news a few months back when the FED finally raised interest rates - the first increase in a very long time. At that time they also forecast how often they anticipated raising rates in the future, and it wasn’t a very happy looking forecast. Well, this past week the announcement was made that the predicted increases are actually a bit more aggressive than the powers-that-be at the FED think is wise, so they are scaling back their estimation of how frequently they’ll be increasing interest rates - and that will impact how we strategize for investing and retirement. On this episode, I’m going to give you my take on this news. Should you pay off your home with retirement funds if retirement is almost upon you? A listener will be retiring in the next 5 years - congratulations for sticking it out, by the way - and he asks me if it’s a smart thing to use some of his retirement funds to pay off his mortgage so that he won’t have that large expense to deal with once his retirement date arrives. There are good arguments on both sides of this decision and on this episode of The Retirement Answer Man I’m going to walk you through both scenarios and give you my thoughts on what I would do were I in his shoes. It’s time to start S-T-R-E-T-C-H-I-N-G for your better health! This show is not focused on physical health per se, but is definitely aimed at helping you achieve the healthiest retirement you can, and we have to admit that a huge part of that puzzle includes the gigantic piece of physical health. On this S.M.A.R.T. sprint segment of the show I’m giving you my suggestion that you should begin stretching every day - and tips on what it will do for you, how you can get started, and why it matters. It sounds small, but it can produce world of benefits! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] My welcome to you, my honored guest to this episode![1:16] How you can make a comment or ask a question.THE “BE HAPPY” SEGMENT [3:20] How negative situations impact our ability to be happy in life.[5:00] How can we deal with the losses that will happy in life?[5:55] My approach: a growth mindset is powerfully important.HOT TOPIC SEGMENT [6:22] The FED has dropped its expectations regarding future rate increases.WHAT DOES THAT MEAN? SEGMENT [8:56] What does “market timing” mean?[9:37] An example of market timing.[11:00] Why trying to predict through market timing doesn’t work too well.[16:13] How does a market timing approach fit into your investing goals?[16:50] The downside of a market timing approach.[21:19] Why investing is only a tool in your entire life maximization strategy.PRACTICAL PLANNING SEGMENT [25:50] A listener question: 5 years from retirement - should I pay off my mortgage with retirement funds?TODAY’S SMART SPRINT SEGMENT [28:41] Start stretching! Really, I mean physical stretching!RESOURCES MENTIONED IN THIS EPISODE www.RogerWhitney.com/RPL - Find out more about retirement plan live!Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Welcome once again to another episode of the Retirement Answer Man podcast. I recognize that time is your most valuable commodity, and they don't take it lightly that you are spending a significant portion of it listening to this podcast. Thank you! Thank you for the trust and confidence you are expressing in me by listening to what I have to say about retirement planning and finances. On this episode we're going to take a deep dive into the issue of diversification to help you understand how the practice is beneficial at some points in history and not so beneficial and others. The political scene is heating up. What impact does it have on the economy? It is March of 2016 and it looks like we are headed towards some certain to you regarding the political candidates for this election year. If things continue to go as they seem, we're going to have some very interesting choices to make. When I'm getting too political, let me just say that the economic choices in this election are very clear-cut. Should we subscribe to the “lifting up” philosophy of economics or the “leveling down” view? On this episode I'm going to give you my thoughts about both of those a purchase. You can’t play catch up in the most important areas of life. A book I've been reading recently has reminded me of a very practical and helpful truth that impacts the way we look at retirement planning and investments. The lesson is this: you can't play catch-up in the most important areas of life. That means wise planning ahead of time is the best course of action in many of the most important things we care about. On this episode I'm going to chat briefly about what that means to me, especially in the realm of retirement planning.Transparent conversations and the road to happiness.One of the reasons I do my podcast is to encourage you to think about the level of happiness in your life. Retirement planning is not just about money, it's also about having a great quality of life during those retirement years. One of the things that enables you to have a happy retirement is to have happy relationships. Transparent conversations are part of building those kinds of relationships, and in this episode I share a quick story with you about how my transparency got me into trouble, but then led to a very valuable and important conversation. Is diversification really all it’s cracked up to be? For many years the concept of diversification has been one of the foundational principles upon which retirement planning and investment strategies have been built. There is a reason for that. It makes sense to have your Investments spread out over many different markets and niches, that way you can endure the ups and downs of the market that may come to one particular area but not to others. But lately there have been a lot of questions about whether or not diversification is really such a great idea. On this episode we're going index to look at the concept of diversification, how it is connected to the various index is, and what you should be thinking in terms of your retirement planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] My welcome to this episode of The Retirement Answer man[0:53] A deep look at a foundational concept this week.HOT TOPIC SEGMENT [2:24] The political scene and how it impacts the financial and economic scene.[4:19] Should we follow the “lifting up” strategy or the “leveling down” strategy?PRACTICAL PLANNING SEGMENT [5:19] The fact that you can’t play “catch up” on the most important areas of your life.[7:00] The reality of cumulative impact on these kinds of issues.THE “BE HAPPY” SEGMENT [9:33] How my transparency got me into trouble, but also brought about a good thing.[11:56] What conversations do you need to have to set the stage for happiness and harmony?WHAT DOES THAT MEAN? SEGMENT [12:04] What is diversification and why is it important?[13:30] How diversification addresses risk.[14:20] Does passively following the S&P 500 diversify your investments enough?[16:20] Examples from the 1990s and the 2000s.[17:40] How diversifying into world economies could be an even riskier approach.[20:00] Why people are questioning the practice of asset diversification.[22:59] Lessons we can learn from what we are seeing in diversification.TODAY’S SMART SPRINT SEGMENT [26:38] Do your own “Instant Xray” on www.MorningStar.comRESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerManBOOK: Ask It by Andy Stanleywww.MorningStart.com - do your own Instant XrayGet in on the “6 Shot Saturday” email list with exclusive content.

Welcome to another episode of The Retirement Answer Man, with me, Roger Whitney! My goal is that you’ll walk away inspired and ready for action. On this episode, I am your guide to financial bubbles and the preservation of your long term investments. I will also pick the brain of marketing consultant and communications strategist, Mike Kim, to identify your skill set and package your passions to pivot your career. Listen in to his calculated transition from a corporate career to an entrepreneurial endeavor. We have loads of wisdom on this episode you’ll want to tune in to! Investment strategies in lieu of wacky elections. We survived Super Tuesday with wild cards on all sides of the election. The lack of clarity and uncertainty can send investment markets spiraling. What are we to do with our investment strategies? Do we rush towards predictions of where the change is headed? I want to reinforce what you have already heard: put your financial airbags in place. Today, I’m talking about the return on investment of an emergency fund and the protection it offers. I want to ensure you have the flexibility to respond and not blow up your long term investments or lifestyle. Find out how to take the minimum investment risk to position yourself to achieve your goals, on this episode. What is a financial bubble? In our lifetime there have been financial, or economic, bubbles influencing our investments and financial stability. The difficult part is of financial bubbles is they are usually defined after the fact, because they expand beyond their norm and then blow up. Think back to the technology stocks increase from the dot-com explosion, or the real estate rise and burst, or the massive lending that crashed. These are economical cycles characterized by a rise and excess that end in a burst. Are we in the midst of one? And how do you get ahead of retrospect and capitalize on a bubble? Tune in to visualize these bubbles patterns. Planting one foot to pivot. Today, I talk with Mike Kim, a marketing consultant, communications strategist, and writer, about his personal pivot from a 9-5 corporate grind to an independent career of serving small business owners in strategy and marketing. Mike offers insight to a career transition that starts with self-assessment of what value you are bringing to your current corporate job. Listen to Mike’s breakdown of his corporate job description versus what experience he actually gained from his day to day actions. A pivot is picking a pillar foot to turn the rest of your body based on where you foot is planted. How did Mike do it? And how can you? Listen in to how you can design your plan to pivot and work more independently. Strategizing your side hustle. Mike Kim has made all the mistakes so you don’t have to. Today, I ask him for a plan that we can all learn from. Mike has a “Pivot Pathway Process” to establish perimeters you can live and thrive within. Do you have a viable business plan? Do you have accountability? Listen in to get on track in projecting your progress. Take what you have learned from your day job and apply it to your hustle. If we take actions, we will get results. I love Mike’s strategy and approach to take control of your own life and find the freedom you desire. Tune in to get a taste of what you’re truly hungry for. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Roger’s introduction to this episode. THE HAPPY SEGMENT [2:08] Rogers’s perspective shift on annoyances from loved ones.HOT TOPIC SEGMENT [4:53] Top stories this week: the election[5:07] Post Super Tuesday[6:40] Taking appropriate financial measures in light of the elections. [8:48] The right amount of risk. [9:37] Slowing down spending during times of uncertainty.WHAT DOES THAT MEAN? SEGMENT [10:07] Financial bubbles.[11:00] What is a financial bubble in our economy?[11:53] Getting a bubble right.PRACTICAL PLANNING SEGMENT [13:00] Introduction of guest, Mike Kim.[14:08] Conversation with Mike about pivoting.[15:39] How do you decipher your pivot when you’re in the corporate grind?[17:02] Assessing your value in your corporate job.[18:43] An example of analyzing your job description and what you actually do.[21:32] Identifying your skill set and packaging your passions to pivot.[22:43] How to plan a pivot with a S.M.U.G. plan.[25:34] Where to focus your side income to make a pivot.[27:00] Comparing asking for a corporate raise to an entrepreneur’s beginning side income.[28:40] You do not have to hate your day job to want control and freedom.[29:13] The key is initiative.[31:46] A change in Mike’s strategy.[33:10] Clues, testing, and moving forward while being unsure. [36:20] Common mistakes on the pivoting pathway.[43:13] Connecting with Mike KimTODAY’S SMART SPRINT SEGMENT [44:53] Brainstorming homework for your week.[46:00] Roger’s wrap up and contact information. RESOURCES MENTIONED IN THIS EPISODE www.RogerWhitney.com/RPL - Find out more about retirement plan live!Contact Roger: http://w

Welcome once again to another episode of The Retirement Answer Man with Roger Whitney...me! It’s my goal to help you prepare for your retirement in a way that equips you to be happier, healthier, and more “on purpose” during your retirement years than you ever thought possible. On this episode I’m going to walk you through a number of things that should help you down your retirement path, including a discussion of what the term “index” means, what history has to tell us about investments during election years, and 3 listener questions that hit on very practical issues when it comes to retirement planning. It’s an election year! How does that impact your investments? In light of this being a Presidential election year, some polling has been done recently to assess how people are feeling about government overall. It appears than more people than ever are in a place where they mistrust or even hate the government. There may be valid reasons for that sentiment, maybe not. But the point that I want to make in response to those polls is that none of us should allow our hatred or disdain for the government to impact our retirement strategy. It’s not a good investment plan for a lot of reasons and I’m going to tell you why on this episode. What is an “index” anyway? There are a variety of financial indexes that you hear mentioned off and on, the main one being the S&P 500 index, but what do they actually mean? On this episode I’m going to explain to you why these indexes are actually imaginary portfolios and how they are designed to help us get a general feeling for what the market is doing in light of the performance of certain companies that may be contained within that imaginary index. Confused yet? You won’t be if you listen to this section of the show. I just received an inheritance and wonder what I should do with it? A listener to the show asks the question today, about an inheritance they received and what they should do with it. There are all kinds of options, paying off debt, investing in IRA or retirement accounts, setting aside money for that rainy day, and even more. What I suggest on this episode is that your first step should not be any of those. Instead, I advise patience. You can hear why I think patience is the greatest first step when it comes to an inheritance or some other financial windfall, on this episode. Why is it a bad idea to simply invest according to the S&P 500? Many investment advisors, including me, often point out that the S&P 500 index average is much higher than most investment portfolios out there. On today’s show a listener asks why it is not a good idea to simply invest along the lines of what the S&P 500 index does. He knows it wouldn't be a perfect investment strategy but it would at least be 80% of the way there. I've got some thoughts about this, and share them with you on this episode, because I don't want you to fall prey to the natural weaknesses of human nature. What does that mean? You'll have to listen to find out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Welcome to this episode![0:56] Why I want you to sign up for Six Shot Saturday!HOT TOPIC SEGMENT [2:16] Presidential elections and how it impacts the market.[3:28] Why hating the government is not an investment strategy.[4:01] What history has to say about investments during the political cycle.WHAT DOES THAT MEAN? SEGMENT [8:44] What is an “index?”[10:29] How indexes work and why it matters to you.[12:37] How various companies within an index have varying impact on the index. PRACTICAL PLANNING SEGMENT [15:20] QUESTION: What should I consider when I receive a windfall or inheritance?[21:29] QUESTION: Should I start increasing cash reserves now in anticipation of retirement?[25:31] QUESTION: What is wrong with putting all of my investments in the S&P 500?TODAY’S SMART SPRINT SEGMENT [33:08] A great way to clear out your email inbox from all the trash!THE “BE HAPPY” SEGMENT [34:44] Creating room for activities that help you enjoy your retirement.RESOURCES MENTIONED IN THIS EPISODE www.RogerWhitney.comText “Six Shot” to “33444” to get signed up for Six Shot SaturdayWant to talk to me about becoming a client? roger (at) wwkllc.comhttp://www.rogerwhitney.com/learn/ - get your “Advisor checklist”www.unroll.me - clean out your inbox

Welcome back to The Retirement Answer Man Podcast, I am your host, Roger Whitney. Some people know me as THE Retirement Answer Man and I’m here to help YOU make the most of your retirement years, not only through wise financial planning, but also through maximizing your life to be exactly what you want it to be. On this episode I’ve got some thoughts that I think will help you simmer down the worry kettle that may be cooking inside you. I hope you take some time to listen to this episode to understand how you can remove some of the worry and stress you may be feeling. We love low gas prices, but what impact is it having on the global economy? I’m sure you’ve been to a gas station lately. The low prices at the pump are a welcome relief, to be sure. But the thing we don’t think about is that our little corner of the world is benefitting from gas prices at the expense of those who produce it. Some stats are showing that major petroleum producers have seen a 70% drop in profits recently. What impact does that have on us (besides the lower gas prices)? I’m going to fill you in on the worldwide implications of low oil prices and give you some thoughts to consider about your response to them. Have you heard the term “black swan” in financial talk lately? Isn’t it great how the powers that be in the financial industry like to come up with all these dramatic names to describe certain phenomena? The term “black swan” is one of those that you hear now and then, especially in times when world events are a bit hectic or volatile. What does it mean, and more importantly, why should you care? I’m going to fill you in, on this episode of the podcast, and I’m going to point you toward an understanding of world events that can help you feel a bit more at ease. How confident and at peace do you feel in light of what’s happening in our country and in the world right now? If you’re like most people, world events like hunger, wars, terrorism, elections, and a host of other things can get you kind of wound up inside. There appears to be every reason to be stressed, worried, and concerned about the future in light of what’s happening now. Whenever I feel that way I find it’s very helpful for me to take a look backwards, at similar times in the past. What good does that do me? You’ll find out by listening to this episode of The Retirement Answer Man, and I hope you’re helped by it. Here’s a practical SMART Sprint you can do today! Every week I bring you a short, timely, practical thing you can do to take better control over your financial future a small step at a time. I call it the SMART Sprint and today’s has to do with your retirement accounts, the amount you’re having taken out from each paycheck, and a simple way you can get ahead of the game so that come the end of the year, you’re not in a panic about contributions and deductions. Are you interested? Be sure to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Roger’s introduction to this episode.[0:50] How you can get in on “6 Shot Saturday.” HOT TOPIC SEGMENT [2:33] Announcements from the oil industry attempting to stabilize the oil markets.[4:30] The impact the oil market downturn is having on the world. WHAT DOES THAT MEAN? SEGMENT [6:55] What is a “black swan?” PRACTICAL PLANNING SEGMENT [8:48] How confident do you feel in light of what’s happening in our world and in our country?[10:55] A historical look at similar world and financial issues.[18:31] Is the U.S. in its “twilight” economically?[22:48] What is with all the global violence? THE “BE HAPPY” SEGMENT [27:03] One way to leverage yourself toward happiness this week - “Time Will Tell.”[26:34] Happiness for you is different than it is for another person.TODAY’S SMART SPRINT SEGMENT [27:43] When’s the last time you’ve checked your contribution account amounts? RESOURCES MENTIONED IN THIS EPISODE Text “Sixshot” to “3444” and get Roger’s Six Shot Saturday emails. Contact Roger: http://www.rogerwhitney.com/retirementanswers/ Roger’s retirement learning center: www.RogerWhitney.com/learn The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan