Ready For Retirement

Exploring the darker side of financial advising, the discussion reveals how seemingly sound advice often prioritizes fees over clients' true goals. A case study illustrates how tax strategies can mislead by focusing on numbers rather than quality of life. Listeners learn the importance of aligning financial plans with personal values and desires, rather than getting lost in spreadsheets. Ultimately, good advice should support life’s objectives, ensuring that retirement is not just about saving money, but about enhancing freedom and experiences.

James "Jim" Selvey, a retired software engineer and author, opens up about his unexpected early retirement and the identity crisis that followed. He shares how a sudden layoff turned into an opportunity for clarity and self-discovery. Jim discusses navigating the emotional challenges, finding purpose through volunteer work, and exploring new creative outlets like writing. He emphasizes that retirement can be a chance to embrace new chapters and encourages others to view it as a liberating transition rather than a loss.

Roth conversions can significantly reduce taxes but may also lead to costly surprises with Medicare premiums. The discussion highlights how a single dollar increase in modified adjusted gross income can trigger IRMAA surcharges. A compelling case study illustrates how strategic conversions can save a couple nearly a million in taxes, yet if mismanaged, could cost them tens of thousands in premiums. Key strategies for navigating Roth conversions effectively call for careful planning to balance tax savings with Medicare expenses.

Steve's story of early retirement reveals how a heart attack shifted his perspective on life. After two decades in video game programming, he embraced freedom at 60, trading stress for hobbies like jazz bands and improv. His health journey included losing 70 pounds through innovative fitness routines, including VR workouts. Moving back to Arizona to support his mother during her illness deepened the value of his newfound time. He emphasizes that retirement is about finding joy and purpose, not just finances.

Most retirement advice quietly assumes you have a partner: two incomes, two Social Security checks, someone to split expenses with, someone to catch the slack if something goes wrong. But for singles, the margins are tighter and the freedom can be much greater. Planning alone means every decision carries more weight, but it also means you have full control over the life you want to build.This video centers on Tina, a 62-year-old single woman with roughly $2.2 million across investment accounts, employer stock, a 401(k), and a Roth IRA. Her situation highlights something many single retirees face: the rules for married couples don’t apply. There’s no second Social Security benefit, no shared expenses, no fallback income — just her plan, her goals, her decisions. Once her “freedom number” becomes clear, the entire plan shifts. Reliable income fills part of the picture, but the rest depends on how her portfolio supports the exact life she wants to live. Simple choices — retiring sooner, traveling more, inviting friends on those trips, or designing a lifestyle that actually reflects what matters — completely change her projections and expand what’s possible.The heart of this conversation isn’t about budgets or perfect withdrawal rates. It’s about giving singles permission to build lives that match their values, not someone else’s template. When the numbers align with the life you want, confidence follows naturally.If this perspective helps you rethink how retirement looks when it’s just you, tap like and share what resonated. Your retirement doesn’t need to look like anyone else’s, it just needs to support the version of life that feels right to you.-Advisory services are offered through Root Financial Partners, LLC, an SEC-registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. Viewing this content does not create an advisory relationship. We do not provide tax preparation or legal services. Always consult an investment, tax or legal professional regarding your specific situation.The strategies, case studies, and examples discussed may not be suitable for everyone. They are hypothetical and for illustrative and educational purposes only. They do not reflect actual client results and are not guarantees of future performance. All investments involve risk, including the potential loss of principal.Comments reflect the views of individual users and do not necessarily represent the views of Root Financial. They are not verified, may not be accurate, and should not be considered testimonials or endorsementsParticipation in the Retirement Planning Academy or Early Retirement Academy does not create an advisory relationship with Root Financial. These programs are educational in nature and are not a substitute for personalized financial advice. Advisory services are offered only under a written agreement with Root Financial.Create Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Retiring at 50, Kent shares his journey of financial independence, shaped by early saving and unexpected inheritance. He dives into the guilt of accepting family wealth and the urgency that family loss brought to his decision. Nine months in, Kent relishes newfound freedom: quality time with his daughters, travel, and pickleball. He candidly discusses the identity shift and the importance of redefining productivity beyond work. With intentional planning, he embraces simplicity, prioritizing family over societal expectations for a fulfilling retirement.

Think waiting until 70 for Social Security is the best choice? Discover the hidden trade-offs that could impact your finances. Delayed credits promise higher checks but may affect your investments and taxes. Meet Greg and Michelle, who smartly navigated their low-income years for better benefits, versus Linda, who faced anxiety after spending down her savings while waiting. Learn how to evaluate your options based on health, taxes, and lifestyle, to find the right claiming strategy for you.

Retiring with a pension changes everything about your retirement math.Most people think about retirement in terms of net worth—how close they are to a million, two million, or more. But if you have a pension, that old framework can send you down the wrong path. In this episode, James explains why retirees with pensions need to think in terms of cash flow, not balances on a statement.James begins with a simple shift: a pension that pays $60,000 a year acts like the income from a $1.5 million portfolio under a traditional 4% withdrawal rule. That perspective alone can reduce the pressure many people feel when they compare their savings to generic benchmarks or to friends who rely entirely on investments.He then walks through real scenarios—showing how a couple aiming to spend $80,000 per year may only need $600,000–$750,000 in savings if pension and Social Security cover the first half of their income needs. And in cases where the pension plus Social Security fully replaces spending, a retiree might not technically need any portfolio withdrawals at all. Cash flow drives the plan; the portfolio simply becomes optional support.James  also covers the nuances most retirees overlook:• How to plan for pensions without cost-of-living adjustments• Why survivorship options can make or break a spouse’s long-term security• How investment strategy changes when you don’t need to pull from your portfolio• Why being 60 or 65 doesn’t automatically mean you need a conservative allocationRetirees with pensions often have far more flexibility than they realize. The key is understanding how the pension slots into the income puzzle, how it affects withdrawal rates, and how it should guide investment decisions—especially for couples.-Advisory services are offered through Root Financial Partners, LLC, an SEC-registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. Viewing this content does not create an advisory relationship. We do not provide tax preparation or legal services. Always consult an investment, tax or legal professional regarding your specific situation.The strategies, case studies, and examples discussed may not be suitable for everyone. They are hypothetical and for illustrative and educational purposes only. They do not reflect actual client results and are not guarantees of future performance. All investments involve risk, including the potential loss of principal.Comments reflect the views of individual users and do not necessarily represent the views of Root Financial. They are not verified, may not be accurate, and should not be considered testimonials or endorsementsParticipation in the Retirement Planning Academy or Early Retirement Academy does not create an advisory relationship with Root Financial. These programs are educational in nature and are not a substitute for personalized financial advice. Advisory services are offered only under a written agreement with Root Financial.Create Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Many retirees struggle with spending, even after achieving financial success. Some lifelong savers feel guilty buying simple pleasures, like $5 M&Ms. The hosts share stories of individuals who find it hard to transition from saving to spending. They discuss how a scarcity mindset can linger even in retirement and offer strategies for intentional, guilt-free spending. Practical exercises are suggested to help retirees clarify their desires and invest in experiences that enhance life, emphasizing health and joy over mere numbers.

A cancer diagnosis changed everything. When Michael’s wife began chemo, time took on a new meaning. The long-term financial plan suddenly felt secondary to the years they still had together. That wake-up call led Michael, then 57, to retire a full decade earlier than planned, trading more income for more life.In this conversation with James, Michael shares the mindset shift that made him walk away from a thriving career and a team he loved leading. He opens up about the guilt of leaving, the relief that followed, and the realization that a company replaces you faster than you think.They also explore how a lifetime of small, consistent choices (early saving, investing through dividend reinvestment plans, and living below his means) gave Michael the freedom to say yes when life demanded it most. Now, his days are wide open: hiking sections of the Appalachian Trail, rediscovering old hobbies, and savoring the quiet moments that used to rush by.It’s an honest look at what happens when money finally becomes a tool for time, not the other way around.Want to be a guest on James’ show to help others by sharing your story? Complete this form: https://vwo3759x8i7.typeform.com/to/IwyScIeR-Michael is not a client of Root Financial Partners, LLC and received no compensation for participating in this video. His statements reflect his own opinions and experience and are not indicative of any specific client’s experience and are not a guarantee of results. No cash or non-cash compensation was provided, and no material conflicts are known.Advisory services are offered through Root Financial Partners, LLC, an SEC-registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. Viewing this content does not create an advisory relationship. We do not provide tax preparation or legal services. Always consult an investment, tax or legal professional regarding your specific situation.The strategies, case studies, and examples discussed may not be suitable for everyone. They are hypothetical and for illustrative and educational purposes only. They do not reflect actual client results and are not guarantees of future performance. All investments involve risk, including the potential loss of principal.Comments reflect the views of individual users and do not necessarily represent the views of Root Financial. They are not verified, may not be accurate, and should not be considered testimonials or endorsementsParticipation in the Retirement Planning Academy or Early Retirement Academy does not create an advisory relationship with Root Financial. These programs are educational in nature and are not a substitute for personalized financial advice. Advisory services are offered only under a written agreement with Root Financial.Create Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!