💬 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

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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
  
  

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💬 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

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 life

NICK’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.

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!

Books

• Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
• The Five Regrets of the Dying by Bronnie Ware
• Author- Arthur Brooks

Show notes created by https://headliner.app

This episode explores the exhilarating concept of "rocking retirement," inspired by Hunter S. Thompson's famous quote. Join us as we dive into the stories of Laura and Nick, two people on the brink of retirement, each with unique paths and values. Discover how they plan to embrace retirement as single individuals, and learn the importance of identifying your personal values to achieve a fulfilling life. Plus, find out how to participate in our upcoming live events and gain insights into crafting your retirement journey.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (01:14) Agile Retirement Management focuses on helping people go all in on their retirement

MEET LAURA

• (06:35) Introducing Laura
• (11:14) Laura is caring for her mother in addition to working full-time
• (13:07) Her thoughts on living alone from a social standpoint and replacing the social network of coworkers
• (15:07) Laura’s hobbies
• (16:13) Laura says she lives within her means and is very frugal
• (18:18) Laura’s top 10 values
• (20:00) Her experience and perspective on losing friends to cancer at a young age
• (22:46) The importance of making your own decisions, not always doing what society says

MEET NICK

• (29:19) Roger introduces Nick
• (30:26) Why Nick volunteered for retirement plan live
• (33:00) Nick was a budget analyst in the military for 22 years, then transitioned to civil service
• (34:49) Nick is ready to leave government work
• (39:12) What is it about a paycheck that changes Nick’s feelings about work?
• (41:56) Nick’s values exercise
• (44:41) Why is travel a common goal in retirement?
• (47:58) Reading the list of Nick’s values
• (53:00) Values direct our goals

SMART SPRINT

• (55:01) Grab the values worksheet and complete it

BONUS

• (55:13) Roger’s grandfather's log from World War II

Resources:

• Sign up for 6-Shot Saturday.
• Register for the Retirement Plan Live results webinars!
• Book - Essentialism: The Disciplined Pursuit of Less by Greg McKeown
• The Retirement Answer Man Free Worksheet Library
• Retirement Podcast Network

💬 Show Notes

Welcome to 2025! In this episode, we kick off the new year with Tanya Nichols from Align Financial to discuss the unique considerations of retiring single with no children. As part of our January series, Retirement Plan Live, we explore the journey of two individuals, a man and a woman, both navigating retirement alone. From planning for legacy and financial security to building a supportive social network, we delve into the complexities and opportunities faced by singles at or near retirement. Join us as we unpack the essentials of retirement planning for singles and set the stage for the month-long exploration of their stories.

PRACTICAL PLANNING SEGMENT

(00:00) The show is dedicated to helping you not just survive retirement, but have confidence

(01:20) This January, we're focusing on two individuals facing retirement as a single person with no children.

(04:02) Tanya Nichols from Align Financial discusses retirement planning for single people

(05:30) 90% of the journey is the same but there are just slightly different considerations.

(07:15) If you're single and facing retirement, what are some things that are overlaying on top of the normal planning process?

(10:20) I think another thing that’s missing is having a thinking partner to exchange ideas and worries with.

(12:35) It’s very difficult to make a new, old friend.

(15:48) You have to be intentional about making connections and building a network of support.

(17:32) When we think about the future, we think about long term care but one thing we don't think about as much is who is going to help with the day to day.

(20:35) As you're single and retiring does this lean towards a safety first approach in terms of taking money that you have and turning on guaranteed income?

(22:15) As you’re aging by yourself, sometimes you are not aware of cognitive issues.

(23:30) Even if you are married, there will be a point in your life where one of you are single

LISTENER QUESTIONS

(24:51) Lauren asks about a new mortgage product that merges your mortgage with your personal banking.

(27:31) Jim asks about tracking down old 401ks.

(30:04) Greg asks a question about being the tax preparer for the family and his aging mother.

SMART SPRINT

(34:10) In the next seven days I want you to establish a file for year end statements from all of your accounts and any tax information you get from those providers.

BONUS

(35:23) Roger reads another excerpt from his grandfather's WWII journal.

REFERENCES

Align Financial- Tanya Nichols

https://www.align.financial/tanya-nichols/

Roger Whitney

https://rogerwhitney.com

Book- Gospel of Wealth by Andrew Carnegie

https://www.carnegie.org/publications/the-gospel-of-wealth/

Mark's Money Mind Podcast

https://marksmoneymind.com

Life Changer Loan

https://lifechangerloan.com

Show notes created by https://headliner.app

In this special Christmas Day episode, we explore the art of reflection as we approach the end of 2024. Join us as we dive into Tanya Nichols' year-end reflection protocol and challenge ourselves to look back on our successes, failures, and lessons learned. We'll also answer listener questions on topics ranging from Roth contributions to mortgage strategies. Plus, get a sneak peek into 2025 with upcoming episodes focused on retiring single and live case studies. Don't miss this opportunity to glean wisdom and set intentions for the new year.

PRACTICAL PLANNING SEGMENT

(00:45) It is a good time of year to reflect on 2024

(03:00) Today we are going to work through Tanya Nichol’s end of year 2024 worksheet.

(03:47) What are some successes you achieved this year, professionally and personally?

(06:15) What are some failures this year that you're not proud of?

(06:56) What are some things you wish you had done in 2024?

(07:27) What are things that you thought were really critical last year that are meaningless now?

(08:03) The next category for 2024 reflection is what made me truly happy in 2024?

(09:10) What made you deeply sad this last year?

(10:00) Next category. Something new I discovered about myself this year

(10:50) What did you love in 2024?

(11:12) When you reflect on 2024, what seasons are ending for you?

(12:15) What new seasons are coming?

(14:20) My theme for 2025 is outdoors. I want to be outdoors more next year.

(15:00) Our team word for 2025 is HONE.

LISTENER QUESTIONS

(15:51) Bob asks about Roth contribution limits as a low earned income household for 2024

(18:11) Listener Brian has found a way to keep his brain active by attending college courses to work on his Mindset nonfinancial pillar.

(21:01) Our next question comes from Jim related to paying down a mortgage

(26:50) Nancy just wanted to share her gratitude as a long time listener of the show.

SMART SPRINT

(27:17) Grab the intention worksheet that we're going to share on Six Shot Saturday and reflect on your 2024

BONUS

(28:06) Roger shares the next entry from his grandfather's WWII journal

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