Retirement Starts Today

Do you wish you had more optionality when it comes to designing your retirement? In this episode of Retirement Starts Today, we’ll explore an article from Forbes that poses five alternatives to the 4% rule that you may want to explore for your retirement withdrawal strategy. In our retirement headlines segment Bret and I team up to answer a question that both Google and ChatGPT got wrong. Find out what it is by listening until the end! Outline of This Episode [2:22] The types of spending strategies that can be used in retirement [13:30] Is creating a donor-advised fund a good way to avoid IRMAA? Resources & People Mentioned Boomer Benefits Boomer Benefits Facebook group Forbes article Want to help me with my book? Take this survey! Schedule a meeting with me to see if we would be a good fit  Trusted sources for financial information - Ed Slott, IRS.gov, Kitces.com Connect with Benjamin Brandt Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/ Follow Ben on Twitter:https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts,Stitcher,TuneIn,Podbean,Player FM,iHeart, orSpotify

What happens if you get to retirement age and realize that you saved too much? Believe it or not, this does happen and has its own set of problems. In this episode, we’ll explore those problems along with some potential solutions.  Stick around until the end of the episode to hear our listener question about deciding whether to do Roth conversions or take ACA health insurance premium tax credits.  Outline of This Episode [2:32] Too much retirement savings does have its downsides [4:54] What you can do to combat [8:21] My thoughts on what you can do if you saved too much [11:27] Choosing between Roth conversions and ACA Resources & People Mentioned Yahoo Finance article Book survey - have a chance to be in my book! Schedule a meeting with me to see if we would be a good fit for each other BOOK - Die with Zero by Bill Perkins Retirement Income University Boomer Benefits Boomer Benefits Facebook group Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Would you like to make $170,000? On this episode, you’ll learn what you can do to save yourself 17% in lower returns over a decade. On a million-dollar portfolio that comes to $170,000! In the Retirement Headline segment, we’ll dive into an article from Financial Advisor Magazine which explores Morningstar’s annual Mind the Gap study analyzing the performance of mutual and ETFs and comparing them to the returns achieved by individual investors. Press play to hear what you can do to improve your investor performance. Outline of This Episode [3:12] Bad timing cost investors 17% in gains [14:45] When does a person need a financial advisor? Resources & People Mentioned Boomer Benefits Boomer Benefits Facebook Group Financial Advisor Magazine article Take our book survey  Schedule a meeting Garrett Planning Network Flat Fee Advisor Network Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Have you thought about using your home’s equity to help you fund a portion of your retirement?  In this episode of Retirement Starts Today, we’ll explore a Morningstar article that examines ways to use this supersized emergency fund. If you are ready to start thinking about retirement outside the box, listen to this episode to hear how you can supplement your retirement by using your home equity.  Outline of This Episode [1:22] Home equity is seen as a someday asset [9:28] Reverse mortgages could be a valuable lifeline [14:10] Clarifying the rules surrounding spousal Social Security Resources & People Mentioned Participate in my book survey! Boomer Benefits Boomer Benefits Facebook Group 2 Ways to Use Home Equity in Retirement  Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Do you remember when you were a kid and were fascinated by the thought of living to be 100? It seemed like such a far-fetched idea, but now with advances in technology, nutrition, and medicine, this far-flung notion increasingly seems like a real possibility. As you may have guessed, today’s retirement headline discusses planning to live until age 100. We’ll explore what that prospect means for your retirement income, goals, and health. Share this episode with a friend so you can discuss it together! Outline of This Episode [2:42] What if you live to 100? [12:40] How to get beyond the accumulation mindset Resources & People Mentioned Forbes article on aging Check out the free Easily Avoidable Medicare Mistakes download from Boomer Benefits Medicare Q&A Boomer Benefits Facebook group Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Medicare’s open enrollment is starting soon, so I’ve invited Danielle Roberts from Boomer Benefits to join me today.  In this episode, we’re discussing what’s new with Medicare in 2024, the important dates to remember for open enrollment, when to reevaluate your health insurance options, and how to ensure you have health coverage when traveling abroad in retirement. Press play to hear what’s new in Medicare. Outline of This Episode [2:26] What’s new with Medicare this year? [8:44] How often do people reconsider advantage vs. supplement and drug plans? [15:42] Bearing risk [22:00] What can you expect from your Medicare when traveling abroad? Resources & People Mentioned 5 Easily Avoidable Medicare Mistakes What to Expect as You Approach Age 65 with Danielle Roberts, Ep # 163  Connect with Danielle Roberts BoomerBenefits.com Boomer Benefits on YouTube Medicare Q&A Group on Facebook Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

As retirement super savers, you all know that slow and steady wins the race. According to this Wall Street Journal article, that race is paying off again for many Americans. In the retirement headlines segment, we’ll take a look at this article. Then in the Listener Questions segment, Bret and I will discuss the merits of having one firm handle investments, taxes, and retirement planning.  Outline of This Episode [1:42] Stock market rally [12:27] When might having one firm handling all aspects of your financial matters might not be the best case Resources & People Mentioned Stock-Market Rally Makes More 401(k) Savers Millionaires Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Even if you aren’t familiar with Monte Carlo analyses, you’ve probably used it. Monte Carlo drives math behind the retirement planning software that you use. Monte Carlo software is truly amazing, however, the way people look at it is wrong.  In this episode, you’ll hear the pros and cons of Monte Carlo analysis and how you can use a Monte Carlo calculator to maximize your full retirement potential.  Outline of This Episode [1:52] When Monte Carlo simulations work and when they don’t [7:10] How to use Monte Carlo simulations effectively [15:13] Should you annuitize to provide a safety net? Resources & People Mentioned Advisor Perspectives article Check out the Monte Carlo analysis lesson for FREE at RetirementIncome.University! BOOK - Die With Zero by Bill Perkins Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Aretha Franklin can teach you more than a little R-E-S-P-E-C-T.  On this episode of Retirement Starts Today, you’ll learn from her estate plan (or lack thereof). After hearing about this estate plan gone haywire Bret and I will team up to answer a listener’s question on how you can transition from a saving to a spending mindset.  Listen in to ensure that your estate isn’t tied up for years while your heirs battle out the details in court.  Outline of This Episode [2:22] Why are the notes found in Aretha Franklin’s couch a valid will? [5:35] My takeaways [13:23] How to switch from a saving to a spending mindset in retirement Resources & People Mentioned Why Are the Notes Found in Aretha Franklin’s Couch a Valid Will? Episode 295 - How Could This Go Horribly Wrong? Lessons in Estate Planning Part 1 Episode 296 - My Kids Don’t Want My Stuff – Lessons in Estate Planning Part 2  Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Here at Retirement Starts Today, we are always looking for ways to teach you how to spend more money so that you can enjoy an even better retirement. However, many times our clients and listeners have trouble loosening their purse strings. After years of being diligent savers, instead of enjoying the fruits of their labor, retirees reaching financial independence often find another reason to be frugal. Listen in to hear how you may be overdoing delayed gratification.  Outline of This Episode [1:32] Will gratification always lead to a more fulfilling life? [2:55] How to find balance [4:01] Habits are hard to make and hard to break [10:12] How are expense ratio fees charged? Resources & People Mentioned Annual Listener Survey LifeAfterTheDailyGrind.com Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify