Retirement Answer Man

Do you know what you should be doing in the 5 years leading up to retirement? Are you doing everything you can to get yourself retirement-ready?  This is the last episode in a 5 part series that expands upon what you need to do in the final push before retirement. If you’d like to start at the beginning of the series click here.  Today we’ll hear from the audience. I have asked those that have already retired to share what they wish they would have known before retirement. Listen in to hear their words of wisdom so that you can make sure to rock your retirement.  Your mental model can determine your success How do you envision your retirement? Are you stressed about the logistics? Can you visualize yourself living out your retirement dream? Many of us get caught up in the numbers side of retirement planning. And although it is important to have a good financial plan in place, what can be even more important is your model of what is achievable. If you don’t think your goal is achievable you’ll never be able to realize it.  One way to adjust your mental model is to hang out with and learn from people that are already there living the way you want to live. Learning from them can help you evolve your own mental model. Listen in to expand your vision of what is possible in retirement.  Words of wisdom from current retirees Over the past month, I have been asking listeners who are recent retirees to chime in with pieces of advice that they wish they had known before they retired. I got some fantastic responses via email and voicemail.  Chase wishes he had talked with others about their Medicare plans before choosing his own. Even after all his time researching, he felt like he made a poor choice of plans. During his next enrollment period, he’ll go with a different plan that a friend uses. Kyle wishes he had paid more attention to tax brackets. He was a fantastic saver over the years, but didn’t focus on the different types of accounts he was saving in. This won’t be helpful when it comes to tax planning in retirement.  On the flip side, Doug is very pleased that he laid out an income strategy in his retirement plan. Tax planning was a big part of the way he planned. Glen recommends paying off the mortgage in the years leading up to retirement. Not only did it feel great to pay off, but this also allowed him to test drive his retirement budget. Listen in to hear how Glen did that. Create your retirement plan and stay agile Looking at the big picture and creating your retirement model will help you envision the life you want. Engage with your spouse if you are married and discuss what life could be like. Knowing where you want to go helps create the mindset you need to move forward with confidence and to live life without regrets.  Organization is power, so have a game plan and be ready to execute it. You can always make adjustments as the retirement game unfolds. If you stay agile then you can adjust your plan as needed.  Don’t miss out on all the words of wisdom from our listeners. They have some fantastic advice to get you moving on your retirement journey. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:30] Your mental model of what is achievable is just as important as everything else [4:42] Ask others about their Medicare plans [6:36] Building out a retirement helps to picture what could be [8:31] knowing where you want to go creates the proper mindset to move forward with confidence [10:02] Kyle wishes they had paid more attention to tax brackets [11:53] It’s important to have nonwork friends [16:09] You will lose your life insurance if it is through work [18:44] Wishes he put more 401K into Roth [22:02] Allow yourself to relax Q&A SEGMENT [24:29] A long-term care buyout question [30:35] A MYGA fixed annuity question TODAY’S SMART SPRINT SEGMENT [33:11] Think about your mental model -- is it holding you back? Resources Mentioned In This Episode Long-term care series - Start at episode 311 Breaking the 4 Minute Mile from Harvard Business Review  Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Are you within 5 years of retirement? If so, it’s time to start training. Retirement is like a marathon, and you need to be ready to run it. This episode is part 4 of a 5 part series on what to do in the 5 years leading up to retirement. Today you’ll learn how to properly train for the marathon that is retirement so that you can enjoy the run when you get there. Are you signed up for the 6-Shot Saturday newsletter? Make sure to get on the email list so that you can receive a comprehensive guide that lays out what you need to focus on in the 5 years leading up to retirement. Next week you’ll hear tips from current retirees who are a few steps ahead of you on this journey, so don’t miss it! Expert advice from those who have walked the walk Many of you have wondered how our Retirement Plan Live case study participants have fared in retirement. A few years ago, our first participant, Carl, came out of the closet to let everyone know that he is actually Fritz Gilbert from The Retirement Manifesto.  Fritz joins me today to share his experience in writing his blog and what he learned from planning his retirement. Now that he has a few years of retirement under his belt he can reflect on what worked, what didn’t, and what were the integral parts of his retirement planning. Come listen to those who have already walked this walk. Let’s see what we can learn from them. Listen in to hear Fritz’s story.  Fritz’s takeaways from his retirement planning So, what did Fritz learn from his retirement planning? He did so much to plan for retirement, but certain things that he did proved more helpful than others. During his one phase of planning for retirement, Fritz created a pre-retirement checklist.  He had never made a budget before but knew he had to have an understanding of how much he and his wife spent each month. They successfully tracked their spending by category for 11 months so that they could break those expenditures down into necessities and discretionary spending.  After having a better understanding of his spending he was able to lay everything out in a cash flow timeline. Fritz projected his cash flow for the first 5 years of retirement which helped him understand how and where he needed to put his money.  What was the biggest adjustment for Fritz in retirement? One thing that people don’t plan for is how they will move from the accumulation phase of investing to the withdrawal phase. This stage of investing requires a completely different approach to managing a portfolio.  Your new investment plan must be in place from day 1 of retirement, so it will need to be planned out a few years prior to retiring. Have you considered hiring a financial planner as a consultant to check your retirement plan? The non-financial aspects of retirement are just as important as the financials When people talk about the changes of retirement they are referring to the non-financial aspects of this stage of life, yet most people focus solely on planning the financial part of the puzzle. Your best chance for a great retirement is finding out what gets you excited about life. What will give you purpose when you retire?  When you retire you’ll leave your network of friends, the structure, routine, challenges, and rewards of your work life behind. This freedom can be liberating or paralyzing. Think about ways that you can give back and focus on others. Listen in to find out how Fritz’s 10 commandments of retirement helped him stay focused on rocking retirement.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:56] What is a marathon? [4:25] Retirement is like a marathon [12:03] Your marathon should be enjoyable PRACTICAL PLANNING SEGMENT [15:10] Fritz Gilbert aka Carl reflects on his retirement planning [18:12] Fritz was never a budgeter [21:15] Were there any spending surprises? [27:50] Get your investing plan in place [32:14] The non-financial aspects of retirement can be a source of anxiety as well  [46:07] Define your values  Q&A SEGMENT [49:09] Are there any tax consequences to consolidating your retirement accounts? [51:19] How will Social Security work with a disabled child? [54:30] What are you trying to optimize for in your planning? TODAY’S SMART SPRINT SEGMENT [58:22] Start to put your plan together Resources Mentioned In This Episode Retirement Manifesto Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center  

Have you ever tried Googling your specific retirement questions? Chances are, those Google searches gave you more confusion than clarity. We all want to rock retirement, but there is a long road from where you are today to the retirement of your dreams.  My goal with the 5 episode What to Do in the 5 Years Before Retirement series is to teach you what you need to focus on in those years leading up to retirement. I want you to have the knowledge and power you need to truly rock retirement. If you want to learn what it takes to fulfill your retirement dreams then press play now.  Identify your values Many people think that they are most worried about the financial aspect of their retirement but they don’t want to acknowledge the fact that they are worried about other areas of retirement as well. Instead of recognizing these worries, they redirect their worries to the financial areas.  One way to begin to get started planning the non-financial side of retirement is by identifying your values. Think about who you want to be. What do you want your life to represent? You can create a new identity for yourself in retirement that reflects your true self.  Once you identify your values you can then create your mission statement. Take some time to reflect on what you really want as you work through these exercises. Get off the career treadmill In your career, you have been focused on achievement for decades, but in the last 5 years of retirement, you need to mentally separate yourself from your career. Work has always come first, but it won’t be that way for long. Since you are no longer trying to get that next promotion it’s time to start setting boundaries.  Try taking a retirement rehearsal. Think about where you want to live and what you want to do in retirement and take a month off of work to go there and do what you would be doing.  Expert advice from those who have walked the walk Listen in to this episode to hear this interview with the Rock Retirement Club’s very own retirement coach, Kevin (Beachwalker) Lyle. He’ll share his experience from his own retirement as well as the wisdom he has learned from others in his time coaching with the RRC. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [6:39] Acknowledge the stress you feel [8:02] Identify your values [13:22] You need to get off the career treadmill [19:05] Book recommendations  Q&A SEGMENT [22:34] Why don’t more planners use a fee-only structure?  [33:30] Annuities are now offered in 401K and 403B plans, are there any plans with lower fees? [35:47] Stop looking for a deeper meaning to everything [37:05] Can you use an HSA plan for healthcare premiums? TODAY’S SMART SPRINT SEGMENT [40:23] Think about the non-financial changes that will happen in retirement Resources Mentioned In This Episode BOOK - Halftime by Bob Buford BOOK - Boundaries by Henry Cloud BOOK - The New Retirementality by Mitch Anthony Annuity series Rock Retirement Club  

Are you trying to gain the confidence you need to rock retirement? If so, you’re in the right place. Welcome to the Retirement Answer Man show, you’ve joined the second episode in a 5-week series geared toward those who are within 5 years of retirement. If you’d like to listen to the first episode of this series head on over to episode 367.  The purpose of this series is to get you to start thinking about the things in the financial realm to prepare yourself for this monumental life transition. Most blogs, podcasts, and other retirement resources focus on the retirement sizzle -- this series will serve you the steak. Press play if you are ready to build a strong foundation to rock retirement.  How to build your foundation so that you can rock retirement When you are within 5 years of retirement it's time to start thinking about your retirement plan. This is not the time to get fancy, instead, it’s time to start building your foundation. You can do this by creating your initial plan of record. This is the plan that balances all the cool things you want to do in retirement with all the resources you have available to make it happen.  Your initial plan of record will help you start to make decisions. You can use fancy charts and tables to help you build your success ratios, but what is missing is what you can do to make it so. You want to know exactly how your plan is going to work. Where are you going to get your paycheck? Your plan of record is the chart that helps you get into the specifics of how to make retirement work.  Is your plan feasible? Once you get it all laid out in your plan of record, then you’ll want to map out your first 5 years of retirement to help you make decisions on where to allocate your resources.  It is important to stay agile. You may have to change your plan based on external factors like the markets, your dreams, your health, or whatever obstacles pop up.  To check the feasibility of your plan you’ll need to dial in your needs, wants, and wishes and your 3 sources of capital. Once you have determined these things then you’ll begin to build your process to determine the feasibility of your plan. Listen in to hear how.  Use the right tools You probably know about many of the retirement planning spreadsheets and calculators that are out there. It can be tempting to jump around and use different sources, but once you find one you’ll want to stick with it. Find a scale that you can use to dial in your information that you use consistently over time in an agile way to make decisions.  Map out the first 5 yrs of retirement Now it’s time to think about your income sources and projected spending for the first 5 years of your retirement. Look back at your 3 sources of capital: social capital, human capital, and financial capital. Will you use social capital like a pension or Social Security? Will you work part-time or start a small business? If so, what is your projected income from those sources? Will it cover your spending? If not, the deficit that remains will be covered by your financial capital. Listen to this episode to really dig in and discover how you can build your retirement plan for those first 5 years.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:31] If you are already retired please share your wisdom at RogerWhitney.com/askroger [4:37] Create an initial plan of record [9:12] Is your plan feasible? [12:44] Map it out [16:36] Now is the time to check on your Social Security benefit [22:33] Where do you put your excess cash flow? [25:41] What is liquidity? Q&A SEGMENT [29:57] Isn’t there an exception to the 5-year rule of Roth conversions? [30:35] Are real estate syndications good or bad? [36:14] Pay off the house or make a Roth conversion? [41:00] Are there examples of Retirement Plan Lives with people who have fewer resources for retirement? TODAY’S SMART SPRINT SEGMENT [41:44] Create a simple spreadsheet that maps out the first 5 years of your retirement Resources Mentioned In This Episode SSA.gov If you are already retired please share your wisdom at RogerWhitney.com/askroger Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Do you want to have the confidence to truly rock retirement? Are you within 5 years of retirement? If so, this is the series for you. Over the next 5 episodes, we’ll explore what you should be focused on in the years leading up to retirement.  Today we’ll explore the opportunities and risks that come within this time frame. Next week, we’ll start setting the stage to prepare you for retirement. After that, we’ll explore the financial and non-financial aspects of preparing for retirement. In the 4th episode of this series, you’ll learn how to put it all into a plan. And lastly, you’ll hear an episode full of wisdom from people who are a bit ahead of you in this retirement journey. Are you ready to get started? Press play now! Preparing for retirement is much like prepping for an adventure In the 5 years leading up to retirement, you need to get ready. It’s as though you are preparing for an adventure. I liken it to a backpacking trip I took a few years back. First, my partner and I had to decide where we wanted to go. Then we had to arrange the logistics. Next, we had to assess whether we had the right equipment for our journey. Then we had to consider both our physical and mental readiness. After that, we had to acquire the things we needed. Once we finally got to our destination we had to assess the trail ahead. We even had to add extra supplies based on those trail conditions. We had to remain agile throughout the course of our journey.  The opportunities and barriers to preparing for retirement At this point in your career, you are probably making more money than you ever have before. You have a reputation and a vast professional network. You may even be at the tail end of the various financial engagements that come with raising a family. Now is a good time to evaluate your life.  There are some barriers that you may need to overcome as you prepare for retirement. I often refer to the 50s as your not-so-thrifty 50s. It’s easy to save more and spend less now that you are earning more. It’s also easy to create a financial cage for yourself. Be careful of financial obligations like 2nd mortgages, RV or boat payments, or even that adult child that you continue to subsidize. These obligations could force you to work longer than you would like. Listen in to hear about more barriers you might face as you prepare for life in retirement.  What can you do now to set yourself up for retirement? There are several steps you can take to begin to set yourself up for retirement.  Start to assess your risks and opportunities by dialing in your income, expenses, and savings. Think about your expenses. What does it really cost to live your life? Separate your discretionary and non-discretionary spending to realize what it takes to live a good baseline life. Create your net worth statement listing your assets and liabilities.  Assess your boundaries at work. You have worked hard to build your career, but have you built up boundaries between work and home life? Assess your social life. Who would you call to have coffee with tomorrow? Do you need to broaden your social network? Assess your purpose. If you had 2 weeks to not think or talk about work what would you do each day? It’s a great time to join the Rock Retirement Club! Are you signed up for the 6-Shot Saturday newsletter? You’ll want to make sure that you are so that you can get our free net worth and expense worksheets. Have you been on the fence about joining the Rock Retirement Club? Now is a great time to join because on March 16 we are starting a 3-week sprint to assess your needs, wants, and wishes. You can try it out for 30 days with a money-back guarantee. Go ahead and join now to see whether it is right for you.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:30] A Rock Retirement Club update [4:04] The five years leading up to retirement is much like prepping for an adventure [7:27] You have opportunities that you don’t want to miss in the 5 years  [11:37] What can you do now to set yourself up for retirement? Q&A SEGMENT [21:51] Using a Roth IRA to fund long term care [27:11] Roth IRAs and the 5-year rule [30:04] Roth IRAs and Game Stop TODAY’S SMART SPRINT SEGMENT [31:57] Start to dial in your expenses and update your net worth statement Resources Mentioned In This Episode Share your wisdom with future retirees! RogerWhitney.com/askroger Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

Over the past 3 episodes, we have been talking about different ways that you can improve your health in retirement. Today you’ll take action. Choose the habits you want to build and learn how to actually build these habits and set yourself up for success. Learning about health and nutrition is one thing, but taking action is something else entirely. Press play so you don’t miss out on these tips to learn how to create and stick with healthy habits. Do you need to redefine your fitness identity? When we are young it can be easy to take on a fitness identity. I’m a mountain biker. He’s a basketball player. She’s a swimmer. But as we age we can face a fitness identity crisis. Our fitness becomes more about mobility and nutrition.  To help yourself create your new fitness identity think about what you want to accomplish. What do you want to improve about yourself? What new version of yourself would you like to see? Think about your motivation. Why do you want to have a healthy body? This is how you can define yourself. Listen in to hear my new motivation for good health. Choose the habits you want to build The power of good (or poor) health comes from habits. Positive and negative habits compound over time so to begin a healthy lifestyle you have to start by building healthy habits. You could start by building a huge meal plan or exercise routine, but that could also set you up for failure. Rather than creating a strict workout routine try tinkering with your movements to explore healthy activities that you really enjoy.  How to build a habit and make it stick You may already understand the importance of building healthy habits but some of us don’t know how to make them stick. Many of us try to create a routine but then struggle to maintain the habits we have created. Luckily, starting and keeping up healthy habits doesn’t have to be as complicated as you think. Try using these tips to help you create and maintain your healthy habits.  To create healthy habits: Set yourself up for success. Make the habit simple to do.  Create friction. Take a bad habit and make it hard to do.  Start with a small habit. Plan on starting with 5 or 10 minutes a day.  To maintain and build up your new habits: Over time increase your routine in small ways. As you build up your routine, split it up into separate times each day.  When you falter restart quickly and don’t beat yourself up about it.  You have the opportunity to change your health Retirement gives you the freedom to change your lifestyle. You have the opportunity to structure your day in a more purposeful manner. Think about who you want to be in retirement and get started building the habits you need to become that person. Listen in to the Coaches Corner segment with BW to hear how movement and mindset can shape your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [3:30] Most of us have to redefine our fitness identity as we age  [7:25] How to build a habit [15:32] Two stories to demonstrate different life views  COACHES CORNER WITH BW [19:45] Movement and mindset can help keep you young [26:52] Use technology to improve your health TODAY’S SMART SPRINT SEGMENT [34:36] Start to make a change to improve your health Resources Mentioned In This Episode Streaks app Noom app Peloton app Oura Ring James Clear Habit Guide BOOK - Atomic Habits by James Clear Stride app Leave me a comment!  Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

If you are interested in living a healthy life you have to consider the food that you put into your body. The food you consume fuels your body and shapes your life. On this episode of Retirement Answer Man, you’ll learn 5 tips for ensuring excellent nutrition. You’ll also discover a few resources that can help you improve your thinking around nutrition. Grab your headphones and dive into this episode so that you can rock retirement by living a healthy life.  What is diet? Americans have an interesting relationship with the word diet. The word often invokes thoughts of failure and restrictions and no one likes to feel restricted.  However, there are two definitions of the word diet. A diet is a special course of food to which one restricts oneself either to lose weight or for medical reasons and it also means the kind of food a person or animal eats. As we’re discussing diet today we should consider the second definition rather than the first. This definition encompasses our whole lifestyle rather than considering the short term. To rock retirement, we want the cumulative benefits of a healthy diet rather than a short-term fix. When you consider the word diet I encourage you to think of it as a way to reset your eating habits to a healthier version.  What is your relationship with food We all have a relationship with food and often that relationship was built when we were young. But you may not want to continue eating the same way you did when you were in your teens and twenties. When we were young we could eat anything without seeing much of a change in our bodies. This is because our metabolism was high. But as we age our body chemistry changes and we don’t burn through calories like we did in the past. Think about your relationship with food. Do you still eat like you did in your twenties? Modern food is made for convenience, not health Everything about modern, industrialized food is created for mass production, shelf life, and consistency of flavor. As a result, modern food is high in fat, sodium, and sugar which makes it unhealthy. Added to the lack of nutrition, our portion sizes have gotten bigger in recent years. It is no wonder that our bodies haven’t adjusted to the modern diet.  How to build a healthy diet To create a healthy diet you want to make sure to eat food - not food products. This means eating fresh foods that don’t have a shelf life. Add colors to your plate by eating fruits, leafy greens, and whole grains. Eating well means that you’ll have to plan your meals and give up on convenience food. Are you ready to change the way you eat? Listen to this episode of Retirement Answer Man to learn 5 tips you can use to improve your nutrition.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:30] What is diet? PRACTICAL PLANNING SEGMENT [7:27] We all have a relationship with food [10:02] Modern food is produced to be unhealthy [16:16] Understand how to read labels Q&A WITH TANYA NICHOLS [22:21] How to save later in life [27:55] Feedback on the Parent Project series TODAY’S SMART SPRINT SEGMENT [32:44] Start reading the labels in your pantry Resources Mentioned In This Episode BOOK - The Mind Diet by Maggie Moon PODCAST - The Doctor’s Farmacy by Dr. Mark Hyman Noom App The Parent Project series Align Financial Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center

To rock retirement, you have to have the right tools, and the most important tool you have is your body. To keep up your strength and mobility your body needs to be fine-tuned. On this episode of Retirement Answer Man, we continue discussing your physical health. You’ll learn what you can do to maintain your strength and mobility so that you can rock retirement.  What is mobility? Mobility means having healthy muscles, bones, and joints so that you can freely move about. In retirement, it is important to have the mobility to do all the typical things you have to do and also so you can enjoy your favorite hobbies. Staying healthy and fit isn’t the same now as it was in your 20s. Back then you exercised to keep up your good looks, but now, exercise is critical to maintaining mobility so that you can rock retirement and do all of the things you want to do. Health and fitness can be your job in retirement Many people struggle without the routine of work to keep their life in balance in retirement. In the book, Younger Next Year, the author, Chris Crowley, makes the argument that you should make health and fitness your job in retirement.  This is an interesting idea that I want you to consider since exercise can provide you with not only structure but goals and rewards as well. When you devote time to your health you can see measurable results. Added to that, exercise can provide you with a social outlet and an ability to connect and work with other people. It can even draw you closer to your partner as you both work to attain your goals.  This important job can become the center of your life now that you won’t have the busyness of work life. It may even help give you a new identity to help you transition from your work-related identity. What do you think about making health and fitness the center of your life in retirement? How to build a body to support you to do all the things you want to do You may have heard that you can lose up to 50% of your muscle mass by the time you are 50. However, the aged muscle can be repaired if you are willing to work to maintain it. It is important to build a plan with your doctor and you may want to include a personal trainer and nutritionist to help you build that plan.  You’ll also want to work on increasing your flexibility. Your muscles get shorter as you get older causing your flexibility to decline. This can reduce your range of motion and lead to back pain, joint issues, and bad balance. Listen in to hear what apps you can use to help you maintain your exercise plan in retirement.  Be sure to check out this week’s 6-Shot Saturday email newsletter! Make sure that you are signed up for 6-Shot Saturday this week. Not only can you complete our annual listener survey, but we’ll have a link to a study guide for you to follow while you read the book, Younger Next Year. This study guide will give you a good idea of the kind of work we do in the Rock Retirement Club. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:30] What is mobility? PRACTICAL PLANNING SEGMENT [3:45] You should make health and fitness your job in retirement [7:25] Use exercise for functional health Q&A WITH TANYA NICHOLS [20:36] Tanya exercises to stay sane [21:44] Can you roll over only part of a retirement account? [25:16] The pros and cons of multi-year guaranteed annuities [32:21] Do I take the pension or the lump sum? TODAY’S SMART SPRINT SEGMENT [38:10] Go buy the book Younger Next Year Resources Mentioned In This Episode Align Financial BOOK - The Power of Zero by David McKnight Episode 310 - The Pie Cake Daily Burn app Apple Fitness Plus FitBit Coach Peloton app Strava app BOOK - Younger Next Year by Chris Crowley Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center  

Good health is not something you can buy, but it can be an important savings account for your future. Over the course of the next 4 episodes, we will focus on how to stay healthy and fit in retirement. We’ll discuss exercise, mobility, and nutrition. In the final episode of the Let’s Get Physical series, you’ll learn how to create an action plan to build and maintain healthy habits throughout retirement. Press play to get started on creating a healthy life. What is the difference between hurt and harm? The difference between hurt and harm is somewhat obvious but it may not be readily apparent when it comes to making decisions. You may put off going to the dentist to get your tooth fixed because you know it is going to hurt. We generally try to avoid hurt, but hurt can be beneficial. Hurt itself, isn’t a bad thing. Eating junk food and choosing not to exercise doesn’t hurt, but it does harm you. It is important to recognize the difference between hurt and harm to help you stay healthy. Modern medicine provides longevity, not quality of life Modern medicine is amazing, however, there is a dark underbelly to our healthcare system. Longevity is the goal of modern medicine, not quality of life. If you are unhealthy, medications can keep you alive much longer than you would have ever been alive in years past. You may even be able to live as long as a healthy person. But those additional years that drugs and doctors’ care provide you will not be high quality and productive, instead, life will be painful and stagnant.  The costs of being unhealthy Choosing an unhealthy lifestyle ends up being costly. The more unhealthy you are, the more you will pay for healthcare. And although this number can be quantified in dollars, there are other costs as well. These social costs aren’t easily quantifiable, but they will certainly be felt.  Rather than being an active participant in life, an unhealthy person becomes a spectator. Their mindset changes and they tend to break from the person they once were. They shift from a growth dynamic to a decaying dynamic. Are you willing to take the risks that come with an unhealthy life? You can’t change the choices you made in the past, but you can change your unhealthy habits now.  Good habits compound over time Small habits make us who we are. Just like saving money, our habits (good or bad) compound over time. You can’t buy good health, but you can invest in it. Building healthy eating and exercise habits doesn’t have to be about your weight or how you look. The purpose of creating healthy habits in retirement is to build energy and increase functionality. Listen in to learn how to create healthy habits so that you can rock retirement.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [1:30] What is the difference between hurt and harm? PRACTICAL PLANNING SEGMENT [4:48] The goal of modern medicine is longevity, not quality of life [8:18] Healthy habits compound over time Q&A SEGMENT [12:20] The keys to ETFs and mutual funds [15:11] A health savings account question [19:11] My thoughts on the 4% rule [22:37] Can Gary’s 401K annuity be moved within the 401K? TODAY’S SMART SPRINT SEGMENT [25:18] Pay attention to your eating and exercise habits Resources Mentioned In This Episode Episode 310 - The Pie Cake  BOOK - Atomic Habits by James Clear BOOK - Younger Next Year by Chris Crowley BOOK - Boundaries by John Townsend Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center  

This is it -- the last episode of Retirement Plan Live 2021! We have walked Trish through her unexpected retirement to see if she has what it takes to build the retirement of her dreams. Over the past 4 episodes, we have gotten to know Trish and her situation. We have taken an in-depth look at her goals, resources, and net worth to help her assess whether she is ready to retire. If you would like to start this series from the beginning, head back over to episode 359, if you’ve already listened then press play now.  Don’t miss the live webinar! Please join us tomorrow, January 28 at 7 pm CST, for the live webinar where I’ll help Trish discover if this dream of hers is attainable. We’ll identify the risks and opportunities she has to create a feasible plan to rock retirement. During this live webinar, you can ask questions and have them answered. You can even use Trish’s example as a case study to help you build your own retirement plan.  What is identity? Identity encompasses everything about you. It is a mishmash of your memories, experiences, values, and relationships. All together this big pot creates who you are.  Consequently, identity is not fixed -- it changes over time. There are pivot points in your life, like those transitions from high school to college, college to career, marriage, and family. We can use these points in life as opportunities to start with a fresh slate and remake our identities.  Retirement is another opportunity to start over and remake your identity. If you haven’t spent enough time creating your identity outside of work it can feel scary to think about who this new you is going to be. Have you thought about who you want to be in retirement?  Trish lost her sense of control after getting laid off Trish had worked at her job for 29 years. We don’t see that very often anymore. She truly thought that she would work there until she chose to retire at age 55. So when she was laid off unexpectedly this past October, it was like a kick in the gut. She is still reeling from the effects.  Every day she keeps the same routine, she gets up, goes for a run, gets dressed, and heads to her home office to search for work from 8-5. Will coming up with a retirement plan help ease her worries? What does this make possible? When we are in the midst of a problem it can be easy to lose perspective. This is why it is important to slow down and make purposeful decisions. One question to ask yourself when dealing with the unexpected is: what does this make possible? Can Trish begin to see the possibilities? Can she start looking ahead? What about you? Do you know how you can create a meaningful life after retiring? Listen in to hear from retirement coach, BW, he has helpful advice for Trish that may resonate with you as well.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? [2:11] What is identity? PRACTICAL PLANNING SEGMENT [7:25] Trish wasn’t happy to get laid off [14:35] Would not needing a job help her relax? [20:53] What is she doing to help herself get through this? COACHES CORNER WITH BW [25.11] Slow down and be purposeful [31:03] Trish can find the balance TODAY’S SMART SPRINT SEGMENT  [35:05] Let yourself be happy Resources Mentioned In This Episode Register for the live webinar on 1-28 at 7 pm CST Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Work with Roger Roger’s Retirement Learning Center