💬 Show Notes

Join us in this episode as we celebrate a special birthday and dive into the intricacies of retirement planning with our ongoing case study featuring Laura and Nick. Discover the unique financial journeys of Laura, who built her assets in the private sector, and Nick, who leveraged his military and government service benefits. We explore the importance of understanding your resources, conducting feasibility tests, and redefining the concept of retirement. Get insights into how setting clear goals, managing assets, and maintaining health and fitness can lead to a fulfilling next phase of life. Plus, learn how to participate in our live results show and open house for the Rock Retirement Club. Tune in for a wealth of knowledge and inspiration!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today is Roger’s birthday
• (00:50) Today we talk about the resources that Nick and Laura have
• (01:40) One thing that's critical in doing a retirement plan of record is knowing what's feasible
• (04:50) When you work just because you want to, you look at decisions differently.

LAURA’S RESOURCES

• (07:11) Laura talks about care for her elderly mom.
• (08:00) Laura reflects on her goals and values from last week’s episode.
• (10:11) Roger and Laura talk about health and fitness.
• (13:50) Today we talk about how Laura will pay for her goals and the three sources of capital.
• (19:08) Roger asks about human capital and Laura’s plans.
• (20:23) Laura and Roger discuss financial assets.
• (27:05) Roger asks Laura about her house and debt.
• (28:35) Laura discusses end of life plans for her aging mother.
• (30:30) Now we need to do a feasibility study.
• (31:12) Laura asks Roger about taxes.
• (35:45) Next week we will talk about risks.

NICK’S RESOURCES

• (36:05) Roger asks Nick how the year has started for him and asks what his word for 2025 might be.
• (37:55) Today Roger and Nick discuss the three sources of capital that are needed to fund Nick’s goals.
• (42:55) Roger asks Nick if he plans to work at all after retirement.
• (44:00) They discuss Nick’s financial assets and investments.
• (47:00) Roger inquires about Nick’s expected inheritance.
• (50:20) Nick discusses his current debt.
• (51:08) Roger asks Nick what he splurges on for himself.

SMART SPRINT

• (54:49) In the next seven days, I challenge you to update your net worth statements.

BONUS

• (56:16) Roger reads another excerpt from his grandfather's WWII journal.

RESOURCES

• Retirement Answer Man
• Register for the Retirement Plan Live results webinars!
• The Retirement Answer Man Free Worksheet Library
• Sign up for 6-Shot Saturday!
• Social Security Administration
  
  

BOOKS

• Unreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect- Will Guidara

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