💬 Show NotesIn this episode, Roger Whitney returns after a month off, ready to help you rock your retirement! He answers listener questions on a range of topics, including the benefits of choosing between Fidelity and Vanguard, the Rule of 55 for 401(k) withdrawals, and inherited IRA distributions. Roger also chats with discusses the importance of finding the right retirement coach. Join us for practical advice and insights to help you navigate your retirement journey!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Roger Whitney answers your retirement questions on today's showROCKIN’ RETIREMENT IN THE WILD(01:08) Brian says he and his wife are playing pickleball during retirement.CHAT WITH KEVIN LYLES(03:30) Roger talks to Kevin Lyles about a financial advisor versus a retirement coach(06:29) How does someone determine if they need an advisor or a coach?(10:15) Define what you are looking for before finding a coach.(12:44) A good coach will listen and have good intuition about what is really going on.LISTENER QUESTIONS (14:47) Barb says she was thinking of moving her Fidelity assets to Vanguard.(21:44) Mark has a question about the Rule of 55.(25:53) Craig asks a question about an inherited IRA(27:54) Scott says he has discovered something about TSP withdrawals.(30:53) An audio question about my Switzerland interview with Scott from a few weeks backSMART SPRINT(32:05) In the next seven days, define something you would like to do and find one person who has done this thing.BONUS(35:00) Roger reflects on how he is going to spend the next 5 weeks.REFERENCESThe Retirement Collective- BookThe Retirement Coaches AssociationSubmit a Question for RogerSign up for The NoodleThe Retirement Answer ManFOLLOW US ON SOCIALS!Follow Us on Facebook!Follow Us on Instagram
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36:24
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36:24
Replay: How to Manage Your Scarcity Brain
In this episode, Roger Whitney welcomes Michael Easter, New York Times bestselling author of 'The Comfort Crisis' and 'Scarcity Brain.' They delve into the concept of overcoming frugality and the evolutionary mismatches that affect our resource management in retirement. Discover how short-term discomfort can lead to long-term growth, the importance of taking the stairs in life, and the psychological implications of our modern abundance. Tune in for insights that can help you not just survive retirement, but thrive in it!*Episode originally aired March 27, 2024OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN[01:04] Today we have Michael Easter, author of Scarcity Brain, on the show.PRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER[02:20] Roger introduces Michael Easter to the show[03:14] The Comfort Crisis falls into the Energy Pillar- building energy so you can show up for your life.[04:30] Roger asks Michael what his objective was in exploring the Comfort Crisis[09:40] Why is it a bad thing to be comfortable?[12:40] How do we start being more uncomfortable?[16:11] The Scarcity Brain falls into the Vision Pillar.[18:00] Why do we have a constant feeling that we don’t have enough?[25:25] Quantifying goals is not always the best thing to do.[29:01] Michael defines what the scarcity loop is.TODAY’S SMART SPRINT SEGMENT[33:21] In the next seven days, take the stairs! Do something that most people don't do.RESOURCESBOOK - The Comfort Crisis by Michael EasterBOOK - Scarcity Brain by Michael EasterStutzRock Retirement ClubFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram
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35:37
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35:37
Replay: Overcoming Frugality in Retirement with Dr. Dan Crosby
In this enlightening episode, we tackle the often overlooked mental shift required in retirement: transitioning from a saver to a spender. Join us as we revisit a compelling conversation with Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisory Services. We'll explore the psychological barriers many face in letting go of frugality and how to embrace the resources they've accumulated to enhance their lives. Discover practical strategies to gain confidence in spending, overcome the fear of uncertainty, and ultimately, live a fulfilling retirement without the regret of dying with too much money. Tune in for insights that could transform your approach to retirement!*This episode originally aired March 20, 2024OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN[00:30] Overcoming frugality is a major crisis for many in retirementINTERVIEW WITH DAN CROSBY[01:19] Roger introduces Daniel Crosby.[02:50] How do we overcome frugality?[04:30] There are a lot of behavioral things that change when you leave full-time work.[09:45] How to gain confidence in the midst of uncertainty.[17:22] People are wired to avoid regret.[18:01] What are some basic things people can do to overcome frugality?[22:16] You can't undo 40 years of programming in 4 minutes- experiment with behavior and small commitments.TODAY’S SMART SPRINT SEGMENT[25:15] In the next seven days, I challenge you to examine your retirement plan and ask yourself- is there something else I should add that’s important to my life?RESOURCESBOOK - The Soul of Wealth by Dan CrosbyBOOK - The Top 5 Regrets of the Dying by Bronnie WareBOOK - Die with Nothing by Bill PerkinsRock Retirement ClubFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram
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28:36
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28:36
Replay: My Experience Moving to a Retirement Community
In this episode, we explore the journey of retirement through the eyes of Brad, a member of the Rock Retirement Club. Brad shares his experience of moving to The Villages in Florida, detailing his decision-making process, the community's offerings, and how it has transformed his retirement lifestyle. Join us as we uncover valuable insights and tips for anyone considering retirement living, all while enjoying the vibrant atmosphere of this unique community.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MANA MINI CASE STUDY[01:30] Roger introduces Brad and asks how he discovered The Villages Retirement Community in Florida.[09:30] Roger asks Brad what led them to explore 55+ communities.[11:35] Brad explains how The Villages community is organized.[19:14] Roger asks Brad what advice he would give to someone exploring places to retire.TODAY’S SMART SPRINT SEGMENT[22:09] In the next seven days, think about where you are going to live in retirement.RESOURCESThe Villages CommunityRock Retirement ClubFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram
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24:16
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24:16
Replay: The State of Retirement Planning with Michael Kitces
All of July we will be replaying some of our popular past episodes. In this episode, we engage with retirement planning expert Michael Kitces as we explore the evolving landscape of retirement planning. Discover the importance of flexibility in retirement spending and how to select the right retirement planner for your needs. We also discuss the implications of dying with too much money and the critical questions you should ask when interviewing potential advisors. Tune in for insights that will empower you to not just survive, but truly rock your retirement!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(0:00) The key to finding a retirement planner is to find someone that puts YOU and not your money in the center of everything.(00:45) Today we have a replay of last year's interview with Michael Kitces.INTERVIEW WITH MICHAEL KITCES(02:11) Roger introduces Michael Kitces and chats about flexibility.(13:30) Michael says as a professional, he does not want to have a client fail on his watch.(19:21) Roger says the quote that comes to mind when he thinks about retirement planning is: “You’re never going to be exonerated from uncertainty, pain, or the need to do work” Stutz(24:00) Most people understand that change is to be expected.(29:05) Michael talks about risk tolerance.(32:55) Michael reflects on the question “How do we help clients actually make better decisions?”(33:51) Tips on how to choose a retirement planner.SMART SPRINT (45:55) In the next seven days, evaluate the quality of your process for making decisions in retirement.RESOURCESBOOK - Die with Zero by Bill PerkinsBOOK - It’s Not Complicated by Rick NasonKitces.comBOOK - Rock Retirement by Roger WhitneyRoger’s Retirement Learning CenterFOLLOW US ON SOCIALSFollow Us on Facebook!Follow Us on Instagram
A top retirement podcast. Roger Whitney, CFP®, CIMA®, CPWA®, RMA, guides you on how to actually do retirement well financially and personally. This retirement podcast isn't afraid to talk about the softer side of retirement. It will teach you how to retire with confidence. Two-time PLUTUS winner for best retirement podcast / blog and the 2019 winner for best financial planner blog. This retirement podcast covers how to create a paycheck, medicare, healthcare, Social Security, tax management in retirement as well as retirement travel and other non-financial issues you'll need to address to rock retirement. Retirement isn’t an age OR a financial number. It’s finding that balance between living well today and feeling confident about your retirement. It’s about gaining more freedom to pursue the life you want. Join the rock retirement community at www.rogerwhitney.com
South Africa