Retirement Answer Man

💬 Show NotesIn this episode, we explore the complexities of retirement planning amidst a rapidly changing economic landscape. Join us as we discuss the importance of having a structured decision-making process and avoiding unforced errors that could jeopardize your financial future. We also share insights on how to navigate uncertainty in the market and the significance of clarity in your retirement planning. Don't miss out on the actionable tips that could help you rock your retirement!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:55) In a couple of weeks Roger will talk with Tanya Nichols and do a recap of the Retirement Plan Live Series(01:49) Roger talks about not flying by feeling through retirement for the practical planning segment this week.PRACTICAL PLANNING SEGMENT(02:15) A few weeks ago we had the announcement of the Chinese AI engine- Deepseek.(03:45) The new presidential team is seemingly focused on a shock and awe strategy in changing the rules of government and economy.(05:45) Roger uses driving to Colorado as an analogy to managing an uncertain economy in retirement.(09:35) “We do not want to fly into retirement just by our gut.”(10:14) What are the causes of unforced errors in general?(13:40) What are some signs that you are not following a good process? (16:00) The process that you have should be focused on defining the true objective.(18:56) Next week Roger will talk about resilience.LISTENER QUESTIONS(19:30) Roger says all of this change is disruptive, and worrisome.(20:00) We are going to share the 2025 important numbers worksheet in Six Shot Saturday. (20:40) Listener Mary says it's better to be alone than wish you were.(21:55) Clem says he learned the hard way that you are replaceable at work.(25:40) Wade asks about managing real estate in retirement and how to find financial advisors.ACTION IN THE WILD(29:45) Roger got an email from listener Todd about the actions he has taken from listening to the podcast.SMART SPRINT(33:13) In the next seven days, write out, as specifically as possible, the pillars and steps in your retirement planning process.BONUS(35:38) Roger reads from his grandfather's WWII journal REFERENCES Align FinancialNational Association of Personal Financial AdvisorsRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!The Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies for Financial Freedom by Tony RobbinsShow notes created by https://headliner.app

Laura and Nick share unique insights on navigating retirement as solo individuals without traditional support. They discuss the emotional aspects of financial management and the importance of community in combating loneliness. With a focus on housing, healthcare, and social connections, they highlight the need for resilience and planning. Listeners will appreciate their practical tips for building support networks and the significance of creating engagement opportunities in retirement. Personal stories add depth to their reflections on independence and financial strategies.

Celebrate a special birthday while diving into Laura and Nick's unique retirement journeys! Discover how Laura's private sector experience contrasts with Nick's military benefits. Learn the importance of feasibility tests in retirement planning and the role of health and fitness in achieving goals. Explore different sources of capital and how they can help you pay for your aspirations. Tune in for insightful discussions on redefining retirement as an exciting phase of life, not just an endpoint!

Welcome to the latest episode of the Retirement Answer Man Show, where we explore the journey to a fulfilling retirement. Join us as we continue our live case studies with Laura and Nick, who share their goals and aspirations for their ideal retirement life. This episode offers insights into planning for a future that aligns with your values, including discussions on long-term care, financial independence, and the importance of self-reflection. Plus, we tackle a listener's question about retirement planning conferences and share details about our upcoming Rock Retirement Club Roundup.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:30) We are on week 2 of our LIVE case studies with Laura and Nick.(01:30) Question from listener Brad about retirement planning conferences.(03:35) We will share the agenda from the 2024 Roundup in our Six Shot Saturday email.LAURA’S GOALS FOR RETIREMENT(04:30) Laura reflects on talking about herself on the show.(08:30) Laura talks about her mom and helping her navigate old age.(12:20) This week we're going to focus on turning your values into goals.(13:35) Laura shares her estimated monthly expenses to maintain a base great life.(16:07) Laura talks about her transportation and car buying habits(18:40) Laura discusses potential home improvements in the next 10 years.(20:05) Laura estimates the cost for her moms continued care.(23:12) We estimate an annual travel expense for 15 years.(28:00) Next week, we'll examine what resources you have to pay for your lifeNICK’S GOALS FOR RETIREMENT(28:35) Today we're going to talk about what Nick wants for retirement(30:15) What does it cost to live the life of Nick on an annual basis?(31:24) Nick talks about healthcare costs.(33:25) We talk about other nonnegotiables for Nick.(34:20) Nick talks about travel plans in retirement.(36:33) Nick discusses his desire to be able to leave some money to his nieces and nephews.(39:40) Nick plans to leave some money for the charitable organizations he supports.(41:55) Nick talks about purchasing longterm care as he ages versus joining a continuing care community.(46:25) Are you planted community wise? Is this where you're going to be longterm?(48:17) Was there anything that you wanted to put on that lifestyle design worksheet that you didn’t?SMART SPRINT(50:55) In the next seven days, grab the retirement lifestyle workbook from our Six Shot Saturday email and start to think about what it is that you want in retirement.BONUS(51:55) Roger reads from his grandfather's WWII log.RESOURCESRetirement Answer ManRegister for the Retirement Plan Live results webinars!The Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!BooksDie With Zero: Getting All You Can from Your Money and Your Life by Bill PerkinsThe Five Regrets of the Dying by Bronnie WareAuthor- Arthur BrooksShow notes created by https://headliner.app

Explore the exhilarating concept of 'rocking retirement' as Laura and Nick share their unique journeys. Laura reflects on living alone while caring for her mother and emphasizes the need for personal values. Nick discusses transitioning from military to civilian life, revealing how a paycheck influences his outlook on work. Discover the importance of crafting a fulfilling retirement and embracing personal fulfillment beyond societal norms. This engaging conversation highlights the significance of social connections and individual passions in this vibrant life phase.

Tanya Nichols, a financial advisor at Align Financial, specializes in retirement planning for single individuals and women. She dives into the unique challenges faced by those retiring alone, emphasizing tailored financial strategies and the necessity of a supportive social network. Tanya highlights the importance of intentional community building, discusses the complexities of financial planning without children, and encourages adaptability in approaching retirement. With practical insights, she opens the door to a fulfilling and confident retirement journey.

As we wrap up 2024, the importance of reflection takes center stage. Discover Tanya Nichols' year-end protocol to evaluate successes, failures, and lessons learned. Tune in for listener questions covering Roth contributions and mortgage strategies. Plus, get a glimpse of 2025 with themes of embracing the outdoors and setting intentional boundaries. Explore how personal interests in learning can shape financial decisions, all while cultivating gratitude and intention for the upcoming year.

Join Dr. Daniel Crosby, author of "The Soul of Wealth," and Dr. Bobby Dubois, a retirement wellness expert, as they tackle retirement planning complexities. Crosby emphasizes the need to ignore distractions and trust your inner voice amidst the noise. He advocates for self-awareness in aligning financial goals with personal values. Meanwhile, Dubois highlights personalized health strategies tailored to individual personality types. Together, they offer insights on critical thinking and self-trust for a meaningful retirement journey.

Explore the hidden costs of our relationship with possessions as the holiday season approaches. Delve into the difference between meaningful 'gear' and unnecessary 'stuff' with insights from a seasoned author. Discover how consumerism affects clutter and retirement planning, alongside strategies to make smarter purchasing decisions. The discussion also uncovers the nuances of Master Limited Partnerships in investing and the tax implications involved. It’s a thought-provoking journey into mindful consumption that could reshape how you view your belongings.

Christine Benz, author of "How to Retire" and director of personal finance at Morningstar, shares her expertise on holistic retirement planning. She discusses the importance of balancing financial and non-financial aspects of retirement, tackling long-term care, and simplifying investment strategies. Insights on the bucket strategy for asset allocation and the emotional complexities of caregiving provide a well-rounded view. The conversation also addresses adapting retirement plans in light of changing political and economic landscapes.