Ready For Retirement

Here’s the thing: retirement isn’t just about hitting a magic number—it’s about understanding what you actually want out of your life once work is no longer in the picture. In their chat, Ari and James dive deep into this question, starting with a listener’s email: “I’ve got $7.8 million, no debt, and I’m 57—can I retire?” Sounds simple, right? Not quite.The duo walks through their Sequoia system, a framework designed to help people figure out whether they’re ready to retire and, more importantly, how to do it right. It starts with defining your purpose. Are you clear on how you’ll spend your time? Then it’s about crunching the numbers—your cash flow, investment strategy, and how your spending might change over time.They stress the importance of avoiding extremes. Sure, you want to make your money last, but don’t be so cautious that you miss out on enjoying life. Taxes, estate planning, and protecting your assets round out the process. It’s not just about financial security; it’s about confidence and living with purpose. As Ari puts it: “If you’re still worried, you’re not wealthy.” Retirement should be freeing, not nerve-wracking.Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - The "simple" question3:08 - Purpose5:50 - Projecting cashflow9:43 - Investments/creating income13:50 - Taxes18:50 - Strategies for reducing tax bills20:37 - Insurance and estate planning24:23 - The Sequoia SystemCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

James breaks down five common retirement mistakes and how to avoid them for a secure and fulfilling future:Spending Wrong: Overspending risks running out of money; underspending misses out on life.Bad Timing: Retiring too early strains finances, while retiring too late sacrifices experiences.Ignoring Risks: Overlooking inflation or focusing only on market volatility hurts long-term stability.Over Helping Kids: Excessive financial support can jeopardize retirement security.No Strategy: A lack of planning for taxes, investments, and withdrawals leads to inefficiency.Plan wisely to balance financial security with an enjoyable, purposeful retirement.Questions answered:1. How can retirees avoid common financial pitfalls to ensure a secure and enjoyable retirement?2. What steps can retirees take to balance responsible spending with meaningful life experiences?Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Spending the wrong amount4:13 - Retiring at the wrong time7:08 - Focusing on only one risk9:58 - Too much support for adult kids12:43 - Not having a strategyCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

In their new podcast, Root Talks, James and Ari open up about the story behind Root—their financial advisory firm—and how it grew from humble beginnings into a nationwide company with hundreds of clients, a 30-member team, and nearly $1 billion in managed assets.James shares how the unexpected twist of being forced out of a stable financial advisor role led him to reevaluate everything. That introspection sparked the vision for Root, a firm built around purpose-driven financial planning. For him, it’s always been about using money as a tool to create meaningful lives—not just about building wealth for wealth’s sake.Ari talks about his journey to joining Root, which started with his persistence in convincing James to bring him on board. What drew him in? The firm’s deep integrity and mission. He reflects on how his own experiences with financial stress and lack of literacy growing up inspired him to make a difference in people’s lives.Together, they dive into what makes Root’s approach unique: blending financial management with holistic life planning. It’s all about helping clients align their money with their values and purpose.To cap it off, they share some exciting news: Root is expanding its reach with a new YouTube channel, more social media content, and increased team engagement. It’s all part of their commitment to growth, innovation, and leaving a lasting impact on their clients and the industry as a whole.Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Root Talks2:09 - The roots of Root5:38 - James and Ari meet7:22 - The vision11:08 - Focusing on integrity, not sales13:46 - Business challenges17:43 - More than financial planning23:06 - Self-starters and systems25:59 - Final thoughts from James27:37 - Get connectedCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Chris was burned out. Despite enjoying aspects of his work, the relentless grind of long hours and aggressive saving left him exhausted and longing for retirement. His goal was to save as much as possible, retire in a few years, and finally spend time with his wife, travel, and enjoy life. However, James, founder of Root Financial, offered surprising advice: stop saving for retirement.After analyzing Chris’s portfolio, James discovered that the growth of Chris’s investments was outpacing his new contributions. Continuing to save aggressively was unnecessary and came at the cost of his health, relationships, and overall happiness. By redirecting funds toward enjoying life—such as taking trips, playing golf, and reducing work stress—Chris could create a more fulfilling life today without jeopardizing his financial future.James explains that compound growth allows established portfolios to do the heavy lifting, especially later in life. He outlines five scenarios where pausing retirement savings might make sense: when you already have enough, are on track to meet goals, feel sacrifices today are too great, lack legacy goals, or don’t need tax benefits.Questions answered:1. When might it make sense to stop saving for retirement?2. How can you balance enjoying life now while preparing for retirement?Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Chris's dilemma and James's advice2:45 - An example of compound growth4:46 - Unbalanced living7:12 - Having enough and being on track8:53 - Sacrificing important things today10:25 - Legacy goals and tax benefits12:25 - SummaryCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Roth conversions are almost a buzzword today, with many people jumping into them like they’re a guaranteed fix for tax worries—much like rushing into surgery hoping it will solve all your problems. But just like surgery, Roth conversions require careful consideration, and they’re not always the right solution. Before deciding to convert, it’s essential to understand why not to do it.Here are some key reasons to skip—or at least pause—on Roth conversions:- Lower Future Tax Bracket: If you anticipate being in a lower tax bracket during retirement, it might not make sense to pay taxes upfront. For example, retiring and moving to a no-income-tax state like Texas can naturally reduce your tax obligations.- No Significant RMD Issue: If your required minimum distributions (RMDs) won’t be large enough to push you into a higher tax bracket, the urgency to convert may not exist.- Charitable Giving Plans: Those planning to donate through qualified charitable distributions (QCDs) after 70½ can leave funds in tax-deferred accounts, making those donations tax-free without needing to convert.- Social Security Tax Torpedo: Conversions can increase your provisional income, causing more of your Social Security benefits to be taxed, effectively raising your tax rate.- Medicare Premium Surcharges (IRMAA): Conversions can push your income above IRMAA thresholds, leading to higher Medicare premiums.- Spending More or Retiring Earlier: Sometimes, simply increasing your spending or retiring sooner can reduce the need for conversions by naturally lowering tax-deferred account balances.While Roth conversions can be a valuable tool, they’re not a one-size-fits-all solution. Thoughtful planning and understanding your unique financial situation are key to making the right choice.Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Roth conversions are like surgery3:07 - Questions that prompted this episode5:28 - Why not to do a Roth conversion8:38 - RMDs prompt Roth conversions10:50 - Spend more money, and retire earlier13:27 - Rethinking what Roth conversions mean15:12 - A financial example18:06 - IRMA considerations22:31 - Knowing enough to be dangerous24:04 - More reasons to be cautious Create Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Meet Sarah—a retiree with a multi-million-dollar portfolio, no mortgage, and all her income needs covered by Social Security. Yet, she hesitates to furnish her newly expanded home, fearing it would “waste” money. In this episode, James unpacks Sarah’s story to explore why so many of us struggle to spend, even when we're financially secure.James explores concepts like:- The Purpose of Money: Money is a tool, not an end goal—it’s meant to be exchanged for experiences and joy.- Diminishing Marginal Utility of Wealth: More money doesn’t always bring more happiness, especially as wealth grows.- Time vs. Money: Time becomes more valuable as we age, making it critical to use wealth meaningfully.- Mindset Shifts: Frugality that builds wealth can hold you back from spending in alignment with your values.- Future Self Perspective: Align today’s decisions with the life you want in retirement to avoid future regrets.This episode challenges traditional views on retirement spending, encouraging listeners to shift their mindset, embrace their financial freedom, and focus on living a fulfilling life.Questions answered:Why do we sometimes struggle to spend our money, even when we have more than enough to meet our needs?How can you reframe your mindset to align your spending with the life you truly want to live?Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Wasting $ on furniture?1:59 - What money is3:26 - A different view of "waste"5:30 - Diminishing marginal utility8:49 - Consider what serves you11:45 - An example from Charlie Munger14:58 - Audit your decisions17:04 - Consider your future self18:55 - ConclusionCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Are you delaying retirement, working for "just one more year" to feel ready? In this episode, Ari and James dive into goalpost planning—the tendency to postpone retirement over financial or emotional uncertainties. Learn how to prioritize life goals over arbitrary benchmarks, like saving $1M or following a generic 60/40 portfolio strategy.🎙️ Highlights from the conversation:The emotional challenges of leaving work and finding purpose in retirementWhy cash flow matters more than hitting a specific savings numberReal-life example: a mid-50s teacher couple weighing part-time work, pensions, and travelThe truth about 60/40 portfolios and inflation-proof investingSubmit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Goalpost planning3:09 - Procrastinating finding meaning4:42 - Tradeoffs6:43 - An example9:20 - Initial analysis 12:48 - Roleplaying15:09 - Use your PTO 18:01 - Allocation20:39 - No cookie-cutter formulaCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

In today’s episode of Ready for Retirement episode James covers when to adjust your portfolio as retirement nears—a crucial step for balancing growth and security. If adjustments happen too late, market downturns could delay your plans; if too early, you might miss out on potential growth.The focus is on reallocating stocks to more stable investments like bonds as you approach the time you’ll need to start drawing from your portfolio. Historical data shows that while the stock market grows over the long term, short-term volatility can be risky close to retirement. Timing this transition, often starting about 10 years before needing funds, provides a smoother adjustment and reduces risk.Besides financial factors, psychological comfort with market swings also matters. Striking the right balance helps ensure your retirement funds last while maintaining your peace of mind.Questions answered:1. When should I start adjusting my investment portfolio as I approach retirement?2. How can I balance growth potential with stability in my retirement portfolio to minimize risks and ensure financial security?Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Protect against stock market decline2:22 - Investment fundamentals and market trends6:12 - When will you need the funds?8:06 - Risk capacity10:55 - Consider dividends and interest from bonds14:20 - Use bonds for a specific purpose17:07 - Risk tolerance20:59 - 5-10 years before retirement24:36 - Goal: minimize risk and regretCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Meet Ari Taublieb 👋 If you didn’t already know, Ari and I work together at Root Financial, and we thought it was finally time to launch a podcast series together.In our very first episode, we dive into a topic that many people shy away from: talking to your parents about money. Whether it’s discussing their estate plans, long-term care, or the tough conversations around wealth, these talks can feel awkward—but they’re absolutely essential.In this episode, we break down:▪️ Our personal stories and insights on how to approach these conversations▪️ Tips for handling these talks with grace and understanding▪️ Strategies to ensure peace of mind for everyone involvedIf you’ve ever felt uncertain about talking money or navigating estate planning with your parents, this episode is for you.Subscribe to Ari’s YouTube channel Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - Ari and James2:03 - A listener's question5:54 - Approaching parents9:26 - Focus on the parent's needs/desires11:13 - Start with long-term care14:33 - Initiating conversations18:03 - Have questions? Ask!Create Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!

Roth IRAs offer great tax-free income benefits, but to make the most of them in retirement, here are seven things you need to know:Contribution Limits: In 2024, you can contribute up to $7,000 annually ($8,000 if 50+), across both Roth and traditional IRAs.Access to Contributions: You can withdraw your contributions at any time, tax-free and penalty-free. Only earnings are subject to penalties if withdrawn early.The Five-Year Rule: To withdraw earnings tax-free, the Roth IRA must be held for at least five years.Income Limits & Backdoor Roths: High earners may not be able to contribute directly, but a backdoor Roth strategy can help. Consult a financial advisor for guidance.No RMDs: Roth IRAs don’t require minimum distributions, allowing your funds to grow as long as you want.No Impact on Social Security: Roth IRA withdrawals won’t count toward your provisional income, potentially lowering your Social Security tax.No Medicare Surcharge: Roth withdrawals don’t affect your adjusted gross income, helping you avoid higher Medicare premiums.By understanding the points above, you can use a Roth IRA to manage taxes and increase flexibility in your retirement.Submit your request to join James:On the Ready For Retirement podcast: Apply HereOn a Retirement Makeover episode: Apply Here Timestamps:0:00 - What is a Roth IRA?1:38 - Free withdrawals3:15 - The 5-year rule4:49 - Income thresholds6:01 - Backdoor Roth contribution8:18 - No RMDs9:26 - Not provisional income12:10 - Not part of IRMA calculations13:06 - Income requirement nuances 14:49 - Wrap-upCreate Your Custom Strategy ⬇️ Get Started Here.Join the new Root Collective HERE!