💬 Show Notes

In 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 Financial
• National Association of Personal Financial Advisors
• Retirement Answer Man
• The Retirement Answer Man Free Worksheet Library
• Sign up for 6-Shot Saturday!
• The Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies for Financial Freedom by Tony Robbins

Show notes created by https://headliner.app

In this final episode of the Retirement Plan Live series, we welcome back Laura and Nick to discuss their unique perspectives on investment risk and aging, particularly from the viewpoint of individuals without a traditional support network. They share their insights on how to navigate financial planning while maintaining a fulfilling life in retirement. Join us as we explore the importance of resilience and community in retirement planning, and don't miss the upcoming live events for deeper engagement!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today is the last in the Retirement Plan Live series with Laura and Nick.
• (00:45) On this episode Roger will talk about retiring as a single person with no children.

LAURA’S VIEWS

• (01:58) Laura says she doesn’t want to spend her retirement just managing finances.
• (06:52) Roger asks Laura about her experience with markets and risks in investment.
• (12:15) Roger asks Laura what her ideal situation would be for housing and how she plans to maintain her home as she ages.
• (15:50) "As we age, the current pulls us to isolation." Roger talks about Laura’s social plans in retirement.
• (18:25) One area that Laura is going to have more evolved skills is living alone and navigating socially as a single person.
• (21:19) On January 30th, Roger and Laura are going to review Laura's vision in a LIVE webinar.

NICK’S VIEWS

• (22:36) Roger asks Nick if there is anything else that has come to mind from previous conversations on the show.
• (25:30) Roger and Nick talk about investing when it comes to risk in stocks and bonds.
• (29:05) Roger weighs in on becoming more financially conservative in early retirement.
• (35:52) Nick reflects on aging and maintaining his home as a single man with no children.
• (37:45) Nick says he lives in a multifamily home with a robust community with a senior center.
• (47:50) Roger talks to Nick about living in a metropolitan area and volunteering in retirement.
• (53:12) On February 3, Roger and Nick are going to review Nick's vision in a LIVE webinar.

SMART SPRINT

• (55:22) In the next seven days, visit the Hartford website link that we share in Six Shot Saturday to explore the MIT Age Lab studies.

BONUS

• (56:58) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Retirement Answer Man
• Register for the Retirement Plan Live results webinars!
• The Retirement Answer Man Free Worksheet Library
• Sign up for 6-Shot Saturday!
• Meals on Wheels
  
  

Show notes created by https://headliner.app

💬 Show Notes

Join us in this episode as we celebrate a special birthday and dive into the intricacies of retirement planning with our ongoing case study featuring Laura and Nick. Discover the unique financial journeys of Laura, who built her assets in the private sector, and Nick, who leveraged his military and government service benefits. We explore the importance of understanding your resources, conducting feasibility tests, and redefining the concept of retirement. Get insights into how setting clear goals, managing assets, and maintaining health and fitness can lead to a fulfilling next phase of life. Plus, learn how to participate in our live results show and open house for the Rock Retirement Club. Tune in for a wealth of knowledge and inspiration!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today is Roger’s birthday
• (00:50) Today we talk about the resources that Nick and Laura have
• (01:40) One thing that's critical in doing a retirement plan of record is knowing what's feasible
• (04:50) When you work just because you want to, you look at decisions differently.

LAURA’S RESOURCES

• (07:11) Laura talks about care for her elderly mom.
• (08:00) Laura reflects on her goals and values from last week’s episode.
• (10:11) Roger and Laura talk about health and fitness.
• (13:50) Today we talk about how Laura will pay for her goals and the three sources of capital.
• (19:08) Roger asks about human capital and Laura’s plans.
• (20:23) Laura and Roger discuss financial assets.
• (27:05) Roger asks Laura about her house and debt.
• (28:35) Laura discusses end of life plans for her aging mother.
• (30:30) Now we need to do a feasibility study.
• (31:12) Laura asks Roger about taxes.
• (35:45) Next week we will talk about risks.

NICK’S RESOURCES

• (36:05) Roger asks Nick how the year has started for him and asks what his word for 2025 might be.
• (37:55) Today Roger and Nick discuss the three sources of capital that are needed to fund Nick’s goals.
• (42:55) Roger asks Nick if he plans to work at all after retirement.
• (44:00) They discuss Nick’s financial assets and investments.
• (47:00) Roger inquires about Nick’s expected inheritance.
• (50:20) Nick discusses his current debt.
• (51:08) Roger asks Nick what he splurges on for himself.

SMART SPRINT

• (54:49) In the next seven days, I challenge you to update your net worth statements.

BONUS

• (56:16) Roger reads another excerpt from his grandfather's WWII journal.

RESOURCES

• Retirement Answer Man
• Register for the Retirement Plan Live results webinars!
• The Retirement Answer Man Free Worksheet Library
• Sign up for 6-Shot Saturday!
• Social Security Administration
  
  

BOOKS

• Unreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect- Will Guidara

Show notes created by https://headliner.app