Retirement Answer Man

Let’s get back to basics—addition and subtraction two ways to get to the same answer. However, we have a tendency to stick with addition. Today we’ll learn how subtraction can help you come out ahead.Why am I talking about elementary math on a retirement podcast? Listen in to find out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:12] Is scarcity really a negative thing?[6:04] Stop trying to aim for precision[11:17] Stop making retirement planning your new job[14:03] Stop optimizing for returns[17:42] Stop thinking you have to retire to something rather than from something[21:25] Stop thinking you can wait[24:16] Stop thinking you need to resign yourself to what isLISTENER QUESTIONS [27:10] Turn off dividend reinvestment in your decumulation phase[30:00] A rucking comment[31:03] On Social Security survivor benefits[33:26] On inherited IRAsROCK LIFE WITH DR. BOBBY DUBOIS [35:15] Movement studies[45:05] Why does movement matter?[48:51] Why the Hadza’s sedentary lifestyle is different from ours[50:55] Why vitamin D is or isn’t helpfulTODAY’S SMART SPRINT SEGMENT [1:00:34] Find an opportunity to moveResources Mentioned In This Episode YouTube video - What You Should Know if You Inherited an IRAEpisode 532 -  How To Manage Your Scarcity Brain With Michael EasterEpisode 530 -  What Is True Retirement Planning? With Christine BenzRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you ever considered moving to a retirement community? With the freedom that retirement brings, many people begin to rethink their living arrangements. On this episode, you’ll hear how Brad and his wife decided to move to a retirement community. Listen in to hear how they approached their decision, the research they put in on where to retire, and how they enjoy their new locale. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY [2:40] How Brad discovered The Villages[10:55] What led them to explore 55+ communities[13:10] How The Villages are organized[20:35] How to explore places to move in retirementLISTENER QUESTIONS [23:50] Should we consider getting I-bonds in 2024[29:50] Clarifying new catch-up rules in 2026[32:27] Charlie’s comment on systems thinking[36:18] Where to put taxes in your planning software[38:41] A suggestion for the podcastTODAY’S SMART SPRINT SEGMENT [40:06] Think about where you are going to live in retirementResources Mentioned In This Episode YouTube video - What You Should Know if You Inherited an IRA After January 1st, 2020I BondsRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Does a withdrawal strategy in retirement have to be complicated or can you simply do a reverse of dollar cost averaging?In this episode, we’ll take a look at how reverse dollar-cost averaging would work by using an example and discover who it works for. Click play to learn if this withdrawal strategy would work for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH A LISTENER QUESTION [1:44] Is it okay to do a reverse dollar-cost average for withdrawals in retirement?IN THE NEWS [14:30] The rules have changed for Inherited IRAsLISTENER QUESTIONS [18:55] What should Vicky do with the proceeds from the sale of her home?[24:09] What to do with a 10-year inherited IRA[27:55] What is the best way to fund bucket #1 to prep for retirement?[35:10] A topic suggestionTODAY’S SMART SPRINT SEGMENT [36:11] Evaluate the resilience of your planResources Mentioned In This Episode Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center  

Exploring the complex question of retirement funding, they discuss how to determine the amount needed. Touching on the FIRE movement and changing advisors are key topics. The podcast also touches on transitioning from saving to spending in retirement, mental challenges, and resilience. Additionally, books read in March and the intelligence of octopuses are thoughtfully discussed.

Have you been wondering what retirement is like for real retirees out in the wild? With the success of our Retirement Plan Live series, we decided to try mini-case studies to learn more about what retirees like you are doing to rock retirement. In this episode, you’ll hear some feedback from Sarah who asked a question on the show about a year and a half ago. Listen in to hear how she responded to the advice I gave. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY [2:27] Sarah’s case [8:06] What you can do for you[10:01] A plan of record is the first stepLISTENER QUESTIONS [13:00] What should Lucas take into account as he prepares to pay off his mortgage[20:00] Investing in retirement with a pension[26:08] How Joe is incorporating the Die With Zero philosophy by giftingROCK LIFE WITH DR. BOBBY DUBOIS [28:24] What is rucking?[29:27] Why try rucking?[40:49] How do you get started rucking?[48:44] How to measure the benefits of ruckingTODAY’S SMART SPRINT SEGMENT [50:00] Go try rucking by walking with something on your back Resources Mentioned In This Episode  Retirement Plan Live: Their Financial Resources - listen to Sarah’s question hereGo RuckBOOK - Die with Zero by Bill PerkinsBOOK - The Power of Moments by Chip HeathRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Michael Kitces is one of the innovators in the retirement planning and financial services space. His blog and ecosystem of resources help retirees and financial advisors gain the base knowledge needed to rock retirement.On this episode of Retirement Answer Man, Michael joins me to discuss the state of retirement planning, how it has changed, and how you can live your retirement to its fullest. Listen to this interview with one of the great minds in retirement planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH MICHAEL KITCES [5:20] Trends in retirement planning[22:40] How to avoid dying with too much money [36:51] How to choose a retirement planner[43:38] How does someone choose a retirement planning firmTODAY’S SMART SPRINT SEGMENT [49:04] Evaluate the quality of your process for making decisions in retirementResources Mentioned In This Episode BOOK - Die with Zero by Bill PerkinsBOOK - It’s Not Complicated by Rick NasonKitces.comRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Have you ever wondered why it is so hard for you to spend your money? Even now after all these years of saving you know you have enough, but it’s hard to let go and untie those purse strings.Today, my friend and renowned author, Michael Easter joins me to discuss overcoming frugality from a different perspective. Click play to hear about the evolutionary mismatch that hinders you from spending your money. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS [2:38] Clarification on the 5-year Roth conversion rule[4:36] Simple IRA rules[6:50] The tax impact of waiting to take Social SecurityPRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER [12:00] Why Michael pursued the concept of the comfort crisis[18:32] How discomfort becomes rewarding[20:20] How we can change our decisions in small ways[24:25] How to manage your scarcity brain in retirement[33:48] We often focus too much on the numbers[36:59] The scarcity loopTODAY’S SMART SPRINT SEGMENT [41:10] Take the stairsResources Mentioned In This Episode BOOK - The Comfort Crisis by Michael EasterBOOK - Scarcity Brain by Michael EasterStutzRock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center

Exploring the challenges of overcoming frugality in retirement with behavioral investment expert Dan Crosby. Topics include gaining confidence in uncertainty, spending less money in retirement, funding an HSA, and looking for blind spots in retirement planning. Strategies for enjoying the money saved after a lifetime of work.

Explore the evolution of retirement planning, from a holistic perspective to investments and long-term care. Learn about creating a 5-year income floor, using bonds for income, and managing investment accounts. Gain insights on opening Roth for a child, comparing Simple IRA and Solo 401k, and understanding retirement contribution levels.

This month we celebrate the Retirement Answer Man’s 10th anniversary milestone with several guests throughout the month. Today we welcome Professor Rick Nason, author of It’s Not Complicated, to discuss complicated vs complex thinking. If that discussion didn’t Stick around for the listener questions with Tanya Nichols and Bring It On with Dr. Bobby Dubois OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN COMPLICATED VS COMPLEX THINKING WITH PROFESSOR RICK NASON [4:20] Defining simple, complicated, and complex[9:11] Why it is important to identify whether you’re dealing with complicated vs complex[18:10] How to approach complex problems[29:30] How AI plays into the discussion of complex vs complicated thinkingLISTENER QUESTIONS [38:50] On portfolio performance calculations[46:18] How to decide whether to stay with an advisor or move to another firm?[51:38] How to take your RMD[57:02] On the Dying with Zero book[57:31] On Don QuixoteBOOKS I READ THIS MONTH [58:56] The books I read this monthBRING IT ON WITH DR. BOBBY DUBOIS [1:04:02] Exploring uncertainty[1:09:53] Uncertainty in retirement[1:22:14] How to test anxiety treatmentsTODAY’S SMART SPRINT SEGMENT [1:25:27] Please fill out our listener surveyResources Mentioned In This Episode Align FinancialThe Fog of WarTrillion Dollar BetBOOK - Horse by Geraldine BrooksBOOK -  Lessons in Chemistry by Bonnie GarmusBOOK - Life of Pi by Yann MartelBOOK - Die with Zero by Bill PerkinsBOOK - When Genius Failed by Roger LowensteinBOOK - It’s Not Complicated by Rick NasonBOOK - The Comfort Crisis by Michael EasterBOOK - The Scarcity Brain by Michael Easter BOOK - From Strength to Strength by Arthur Brooks Rock Retirement ClubRoger’s YouTube Channel - Roger ThatBOOK - Rock Retirement  by Roger WhitneyRoger’s Retirement Learning Center