Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®
  • 4.6(1.1천개의 평가)
  • 투자
  • 매주 업데이트
Retirement Answer Man

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

  1. Close Out the Year with Intention

    2일 전

    Close Out the Year with Intention

    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 Show notes created by https://headliner.app

    30분
  2. Learn What to Ignore with Dr. Daniel Crosby

    12월 18일

    Learn What to Ignore with Dr. Daniel Crosby

    💬 Show Notes Join us in this episode as we delve into the complexities of retirement planning with Dr. Daniel Crosby, author of The Soul of Wealth. Discover the importance of learning what to ignore and how to trust your inner voice amidst the noise. We also explore the nuances of health management with Dr. Bobby Dubois, discussing how to tailor your health journey to your unique style. Plus, get a sneak peek into the upcoming Retirement Plan Live case study and exciting changes for the show in 2025. (00:30) Today we are going to talk to Doctor Daniel Crosby and Doctor Bobby Dubois (04:20) Retirement Plan Live starts in January. We will have two subjects this go round, both are retiring single, with no children. (05:30) In 2025, the show will be more focused on retirement. INTERVIEW WITH DANIEL CROSBY (06:20) Welcome Doctor Daniel Crosby to the show. (07:00) We are going to focus on a chapter in The Soul of Wealth, Learning What to Ignore. (08:15) Daniel: I feel like our attention is being pulled in negative ways...We live in a world where we are utterly unprepared for the amount of information coming our way. (10:35) Daniel: Going back to the top of your funnel and figuring out what you want can be deeply obscured by focusing on the wrong thing. (12:35) Daniel: The reason that we are at the top of the food chain is our ability to work cooperatively together and part of working together is benchmarking with each other. (13:20) Roger: Whatever your vision is should be a reflection of your values. (17:55) Roger: We have to know what to pay attention to when it comes to practical planning so we don't spend too much time focusing on the wrong thing. What are those filtering questions? (19:05) Question 1:  Do you have a reason to believe the accuracy of this information? (21:31) Question 2: What is the motivation of the person giving forecast or information? (26:20) Daniel: That which we obtain too easily, we esteem too lightly. (27:15) Question 3: Will I care about this in the next 5 years? (29:29) Daniel: “Given the state of everything,” is kind of how everyone feels all the time. (30:30) Last question: Does this matter to my finances or my soul? (33:40) Daniel: When people look back on their lives, they don’t care about work and money all that much. INTERVIEW WITH DR BOBBY DUBOIS (35:50) Dr. Bobby Dubois joins us to talk about energy and retirement. (36:41) Today we are going to talk about HOW we approach our health. (38:06) Bobby: One size fits all doesn't reflect our personality types. How things motivate us are not the same from one person to another. (40:02) Roger: Quote from Neal Stephenson might apply to today's longevity discussion. Most of us are too busy living our lives to think about longevity. (41:35) Bobby: There are five different health types and there's a quiz to identify them (42:11) Bobby: The first type is the holistic health hacker, wellness is front and center. (43:52) Bobby: Next is single minded achievers, they focus on one or two things and can get tunnel vision.  (45:55) Bobby: Purposeful path planners are folks who are motivated about their health but can get overwhelmed by information. (47:39) Bobby: Contentment creators have mastered the art of enjoying life. Life is front and center and health is secondary. (49:40) The last type is the smallest in my database, hopeful health seekers. They keep at it and don’t give up but they haven’t found the way toward health. (51:17) Bobby talks about Roger being a purposeful path planner. (55:36) Roger: There's a difference between deciding, indecisive, and undecided (59:40) Your health type may change over time. SMART SPRINT (01:05:42) IN the next seven days, I challenge you to use Dr Crosby’s focusing questions to strengthen the muscle around what you should pay attention to and what you should ignore. BONUS (01:06:23) All right, mission number seven and eight, July 8, 1944. Ship number 188, sortie 5th Vienna Show notes created by https://headliner.app Rational optimism ✍️ Episode References Dr. Daniel Crosby https://www.danielcrosby.com/ The Soul of Wealth https://harriman.house/books/the-soul-of-wealth/ Dr. Bobby Dubois https://www.drbobbylivelongandwell.com/ James Clear https://jamesclear.com/ Cal Newport https://www.calnewport.com/books/deep-work/ The Rational Optimist: How Prosperity Evolves- Matt Ridley https://www.amazon.com/Rational-Optimist-Prosperity-Evolves-P-s/dp/0061452068

    1시간 8분
  3. Gear vs. Stuff with Michael Easter

    12월 11일

    Gear vs. Stuff with Michael Easter

    In this episode, Roger discusses the impact of our relationship with "stuff" on our retirement journey. With the holiday season upon us, we're all about giving and receiving, but how does this accumulation affect us long-term? Michael Easter, author of The Comfort Crisis and Scarcity Brain, joins the conversation and shares insights on distinguishing between gear and stuff. Michael shares insights on the psychological and societal influences driving consumption and offers practical tips for making more mindful purchasing decisions. We also address listener questions on topics like the tax implications of campaign promises and master limited partnerships. Tune in for a thought-provoking discussion that might just change the way you view your possessions and retirement planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [01:00] Our relationship with stuff can have second and third order consequences in retirement[01:50] How watching the Buy Now documentary inspired Roger to think about possessions[03:10] The impact of clutter on retirementGEAR VS. STUFF CHAT WITH MICHAEL EASTER [05:40] How the amount of items in the average home has changed over time and why[07:36] Michael Easter defines gear and stuff [09:39] Humans evolved to get as much information as possible[12:00] Managing gear vs. stuff in holiday shopping[12:45] How ecommerce platforms have taken features from casinos to help speed purchases[14:25] Strategies to reduce needless purchases[19:50] Roger’s plan for gifts this yearLISTENER QUESTIONS [23:45] David’s comment on verse and versus[24:55] Mary on how to ask better questions[26:26] Armand asks why we aren’t discussing potential elimination of income tax on Social Security[30:41] Todd has a question about master limited partnership stocksSMART SPRINT [38:00] Be aware of your purchases this holiday season - are you buying gear or stuff?Resources Mentioned In This Episode Michael Easter Cal Newport Books: The Comfort Crisis and Scarcity Brain by Michael Easter Netflix documentary Buy Now Six-Shot Saturday

    39분
  4. How to Retire with Christine Benz

    12월 4일

    How to Retire with Christine Benz

    Join us for a special episode as we welcome Christine Benz to discuss her new book, "How to Retire." In a captivating conversation at the Rock Retirement Club, we dive into topics like long-term care, the 4% rule, investing strategies, and simplification. Featuring insights from Fritz Gilbert, a member of the club and contributor to Christine's book, this episode offers a holistic view of retirement planning. Discover how to balance financial and non-financial aspects for a fulfilling retirement journey. INTERVIEW WITH CHRISTINE BENZ (01:26) Rock Retirement Club welcomes Christine Benz to chat about her new book, How to Retire (02:40) Roger asks about the goal for the readers of this book. (04:00) Christine: The goal was to cover retirement in a really holistic way and include as much non-financial as financial information on retirement planning. (05:09) Roger: I was surprised that you did the book in the interview style, I think it helped make the book more approachable. (07:24) Roger: Did you have any big insights that were unexpected? (10:18) Fritz: I give Christine serious kudos for the approach she took and the amount of homework she did. (11:47) Christine to Fritz: I love your methodical approach to dealing with the years leading up to retirement (13:19) Marla asks Christine if she would change anything if she was writing this book today to accommodate the 2024 election results and also asks about managing portfolios on Morningstar. (17:28) Roger: When it comes to portfolio construction, it's easy to overcomplicate things (20:30) Larry asks Christine what challenges her or confounds her most about her own retirement planning. (22:53) Larry asks “Are you concerned that we may not find people to provide long term care?” (30:11) Kevin Lyles asks about asset allocation when you retire (30:47) Christine: My chapter on asset allocation addresses the bucket approach, which I do find very customizable. (36:56) Laura asks: When you talk about high quality bond portfolios, do bond funds work? (41:06) One question I have when we're talking about indexes is about broad diversification.  (43:42) Roger: Now someone had a comment related to some of the research on small cap value. Do you have any view on that research on having a more diversified small cap value tilt? (47:19) Eric asks “what is the argument for using tips for retirees?”  (50:24) Roger asks Fritz if he has been simplifying his portfolio or working more on optimization since retiring in 2018. (52:50) Roger: The optimization part sometimes dominates the conversation. (53:38) Roger asks Christine: Have you found, even in your own life, a balance between making sure you don’t get too complicated in investments? (56:45) Biranna asks after 20 interviews, what question now rests in your mind? (57:40) Christine: I've been thinking more about whether the concept of retirement is flawed (58:59) We're going to share a link with members offering a discount to Morningstar. (59:55) Next week on the show, we're going to chat about with Michael Easter about Gear vs Stuff BONUS (01:00:30) Roger reads an excerpt from his grandfather's WWII journal REFERENCES Wade Pfau Morningstar  The Retirement Manifest- Fritz Gilbert Daughterhood.org Christine Benz Six Shot Saturday BOOKS How to Retire: 20 lessons for a happy, successful, and wealthy retirement- Christine Benz Being Mortal: Medicine and What Matters in the End- Atul Gawande Keys to a Successful Retirement: Staying Happy, Active, and Productive in Your Retired Years- Fritz Gilbert Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future- Roger Whitney Show notes created by https://headliner.app

    1시간 2분
  5. Year-End Planning: Charitable and Family Giving

    11월 27일

    Year-End Planning: Charitable and Family Giving

    Welcome to another episode dedicated to enhancing your retirement journey! Today, we wrap up our series on year-end action items with a focus on charitable and family giving. Discover how strategic charitable contributions can optimize your tax plan and learn about family giving opportunities that can make a difference. We also address your questions and share essential updates, including a correction on HSA contribution limits and an exciting upcoming live case study. Plus, get ready for a December packed with insightful guests like Christine Benz and Michael Easter. Dive in and explore ways to rock your retirement with confidence! PRACTICAL PLANNING SEGMENT (00:30) Today we are going to talk about charitable and family giving. (00:53) I misquoted the HSA contribution limits in episode 565 (02:40) In January we are doing another Retirement Plan Live series. 03:50 In December we will have several great guests on the podcast including Christine Benz, Daniel Crosby, Michael Easter, and Tanya Nichols. (04:21) Today we're going to talk about charitable and family giving (05:30) There's no real impact from a tax perspective on charitable giving unless you itemize your tax return. (07:41)What are ways of giving to a charitable organization? (12:00) You can batch your charitable contributions into one year in order to have a significant impact on the tax you pay in reduction. (14:42)  Let’s talk about family giving. You can give up to $18,000 a year in family giving. (16:44) You can pay family educational expenses and medical expenses without limit as long as you are paying directly to the institution. LISTENER QUESTIONS  (18:00) I had a discussion with a member of the Rock Retirement Club yesterday about moving to a warmer state in retirement and helped analyze the feasibility of their plan in the different states. (25:14) One question related to the upside portfolio, do I have to build a whole asset allocation? (28:45) Our next question is an audio question related to rebalancing. “Hi, Roger. I have a question about the process of rebalancing your pie cake… what process should I use to refill layer two of my pie cake to continually fund the next five years of my life?” SMART SPRINT (37:55) In the next seven days review your charitable and family giving. BONUS (38:15) Roger shares another excerpt from his grandfather's WWII journal. REFERENCES Simon Sinek- Originator of Humble Pie Quotehttps://simonsinek.com/ Red Crosshttps://www.redcross.org/ Schwab Donor-Advised Fundhttps://www.schwabcharitable.org/ Fidelity Donor-Advised Fundhttps://www.fidelitycharitable.org/ Upcoming Podcast Guests: Christine Benzhttps://www.morningstar.com/people/christine-benz Michael Easterhttps://eastermichael.com/ Daniel Crosbyhttps://orion.com/thought-leader/daniel-crosby Tanya Nicholshttps://www.align.financial/tanya-nichols/ Retirement Podcast Networkhttps://retirementpodcastnetwork.com/ Six Shot Saturdayhttps://rogerwhitney.com/six-shot-saturday Show notes created by https://headliner.app

    40분
  6. Retirement Year End Planning: Withdrawing from Assets

    11월 20일

    Retirement Year End Planning: Withdrawing from Assets

    Join us in this insightful episode as we continue our series on year-end action items, focusing on optimizing your retirement planning. Today, we delve into the intricacies of withdrawing assets, discussing everything from flexible spending accounts to inherited IRAs. We also explore the concept of "gear, not stuff" with insights from Michael Easter, and how making thoughtful purchasing decisions can impact your financial health and the environment. Don't miss our deep dive into tax strategies and the importance of building a resilient retirement plan. Plus, we answer listener questions about decumulation, working with financial advisors, and more. Tune in to take actionable steps toward a secure and fulfilling retirement! PRACTICAL PLANNING SEGMENT (00:00) This week we continue to discuss year end action items to optimize your retirement planning (00:50) We are gearing up for a retirement plan live case study for January. This time we will be focusing on someone who is single with no children. (02:10) Roger shares an anecdote about having his kitchen cabinets painted and discusses gear versus stuff. (05:00) Roger discusses the importance of buying high quality items that last. (07:25) Today we're going to talk about accounts we should consider withdrawing money from before the end of the year. First up are FSA accounts. (08:14) The next accounts we are going to talk about are inherited pre-tax accounts. (09:30) If you inherited an IRA prior to January 1, 2020, your required minimum distribution is required to be taken out by the end of this year. (10:48) What happens if you inherited an IRA after 2020? (12:25) Since the Secure Act 2.0 started in 2023, the penalty for not taking the required minimum distribution is 25% of what you should have taken. (13:35) The next type of required minimum distributions we are going to talk about are those that are age related for original IRA owners. (15:03) Proactively taking qualified distributions can lower your overall tax rate in retirement. LISTENER QUESTIONS  (20:44) Next Month, we'll focus on answering some of your questions on AskRoger. (21:12) The first question comes from Scott about principal versus interest and decumulation. (28:59) Next, Joy says she needs help with retirement planning and decumulation of assets. (32:45) Mike asks about decumulation and resilience. How should pre-retirees position retirement assets as they reach the last five years or so before retirement? (39:11) Tom asks about the five year rule for Roth 401k conversions. SMART SPRINT (41:08) Take a look at the items that we talked about in terms of withdrawing assets. BONUS (41:45) Roger reads another excerpt from his grandfather's war journal. REFERENCES Ask Roger https://www.rogerwhitney.com/askroger Michael Easterhttps://twopct.com Dinkytown Calculators- specifically the 1040 tax estimatorhttps://dinkytown.net Schwab Required Minimum Distribution Calculatorhttps://www.schwab.com/ira/ira-calculators/inherited-ira-distribution-calculator Six Shot Saturdayhttps://6shotsaturday.com Show notes created by https://headliner.app

    43분
  7. Retirement Year End Planning: Contributing to Assets

    11월 13일

    Retirement Year End Planning: Contributing to Assets

    Join us as we dive into year-end financial planning strategies to optimize your retirement plan. This episode unpacks the essentials of contributing to various accounts like 401(k)s, IRAs, Roth IRAs, HSAs, and donor-advised funds before the year ends. We also discuss Roth conversions and answer listener questions about IRMAA brackets and required minimum distributions. Plus, hear a special tribute to veterans, featuring the first mission of Roger’s grandfather, a WWII bomber pilot. Don’t miss this comprehensive guide to maximizing your retirement savings and honoring those who served! SMART PLANNING SEGMENT (01:01) Rock Retirement Club is having its last open enrollment for the year. (02:26) This month the theme has been to look at year end planning items in order to optimize your plan of record. (03:40) This week we focus on contributing to assets between now and the end of the year. We will start off by discussing contributing to your 401K account. (05:30) The second thing we want to look at is contributing to an IRA or Roth IRA. (08:37) The next account you might consider contributing to is your health savings account. (10:07) Another thing you might consider contributing to is a donor advised fund or any type of charity. (15:03) The next one I’ll talk about today is 529 education plans. (17:00) Another account you might want to contribute to is your after tax investment account. LISTENER QUESTIONS (20:00) Roger talks about 51 missions that his grandfather flew during World War II in honor of Veterans Day. (21:10) Reid is concerned about IRMAA in 2026 regarding Roth conversions. (24:35) David asks a question about projected required minimum distributions for Roth conversions. (28:30) Joe asks about tax brackets and Roth conversions. (31:13) Denise says the more she reads about Roth conversions, the more confused she gets.  SMART SPRINT (35:00) If you want to try to do some optimization, grab the worksheets from Six Shot Saturday and go through the lists. IN HONOR OF VETERANS DAY (35:54) In honor of Veterans Day, I'm going to share some missions from my grandfather to thank all of our veterans. REFERENCES  Six Shot Saturday Rock Retirement Club Retirement Answer Man- FREE Resource Center Show notes created by https://headliner.app

    39분
  8. Retirement Year End Planning: Tax-Loss Harvesting

    11월 6일

    Retirement Year End Planning: Tax-Loss Harvesting

    Welcome to a transformative episode where we delve into year-end financial strategies to optimize your retirement planning. Join us as we discuss tax-loss harvesting with Erin Coe, a seasoned planner and tax expert. Learn how to strategically sell capital assets at a loss to reduce your tax burden and explore the nuances of capital gains, wash-sale rules, and more. Plus, we answer listener questions about Roth conversions and annuities. Don't miss this insightful guide to maximizing your financial health! PRACTICAL PLANNING SEGMENT (00:25) Today on the show we begin to explore year-end action items. (02:23) So now that we're into tax season, we're going to do a primer on tax-loss harvesting with Erin Coe. (03:59) Tax-loss harvesting is the act of intentionally selling capital assets at a loss (05:25) Defining what a capital loss is (08:42)The intent is to reduce taxable income and reduce taxable liability  (10:12) How do you gauge the impact of this? (13:34) Leave some buffer room to be careful on tax cliffs (15:35) The wash-sale rule means you can't sell a capital asset and claim that loss and then repurchase it within 30 days (21:27) What are some gotchas that we need to watch out for when evaluating portfolios? (22:24) Another problem is those carry forwards, you need to track it every year whether you are using it or not. (25:38) Tax loss harvesting is not just a December activity, it’s a year-round sport LISTENER QUESTIONS (28:05) Greg asks a question about Roth conversions for his older relative (34:24) Stanley says his wife has a taxable MYGA, multi year guaranteed annuity, and wants to know if he should take the lump sum or roll it into something else. (40:28) Jay asks about the pie or bucket approach SMART SPRINT (46:50) Review your after-tax accounts looking for unrealized losses and examine whether you can use them productively  Join our live event on Roth conversions at livewithroger.com or sign up for the replay at sixshotsaturday.com. REFERENCES  Dinkytown.net Turbo Tax Retirement Podcast NetworkSix Shot Saturday Retirement Answer Man

    49분
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소개

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

정보

  • 제작진
    Roger Whitney, CFP®, CIMA®, RMA, CPWA®
  • 방송 연도
    2014년 - 2024년
  • 에피소드
    577
  • 등급
    전체 연령 사용가
  • 저작권
    © Roger Whitney, 2024
  • 웹사이트 보기
    Retirement Answer Man

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