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.

RESOURCES

• BOOK - Die with Zero by Bill Perkins
• BOOK - It’s Not Complicated by Rick Nason
• Kitces.com
• BOOK - Rock Retirement by Roger Whitney
• Roger’s Retirement Learning Center

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram
  
  

💬 Show Notes

This week on the Retirement Answer Man show, we kick things off with a couple of Rockin’ Retirement in the Wild stories from listeners living out their retirement dreams. Then we dive into a mini case study from a listener recently laid off who’s wondering if early retirement is on the table, we’ll walk through the numbers and stress test his plan. We wrap up our month of travel talk with a fun chat with Chris and Cathy about their retirement adventures and how they’re making the most of their freedom to explore.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) In this episode, we wrap up our travel reflections and explore a listener's question about the pros and cons of retiring at age 59.
• (01:40) Looking ahead, July will feature 'Best of' episodes of the Retirement Answer Man podcast and August will focus on listener questions.

ROCKIN’ RETIREMENT IN THE WILD

• (02:50) Rock Retirement Club member, Pete, has a podcast called Retiring with Enough and that podcast just hit episode 150.
• (04:04) Listener, Adrianne, sent in a letter about rocking retirement.

LISTENER CASE STUDY

• (04:45) An anonymous listener reached out to share that he’s considering early retirement after a job loss caused by the downturn in the automotive industry. Today, we explore whether he can make it work.
• (09:20) A breakdown of the listener’s financial situation.
• (13:35) We have to make some assumptions about investment and will use software to simulate different scenarios.
• (17:00) Let’s look at the results- a feasible plan is not necessarily resilient.
• (19:40) Let’s do some basic stress testing to see how your plan holds up when life throws curveballs.

TRAVEL STORIES WITH CHRIS AND CATHY

• (24:52) Two recent retirees, Chris and Cathy, have focused on domestic travel now that work is out of the way.
• (29:10) Roger: What was one moment that stood out from your entire trip that stands out for each of you?
• (31:45) Roger: Do you two talk when you're on road trips or do you audiobook or something?
• (32:23) Chris and Cathy said they retired together and knew they wanted to go back to Jersey.
• (33:21) Roger: How did you adjust to being together 24/7?
• (34:55) Chris and Cathy discuss how they will approach travel in retirement.
• (36:17) Roger: Over a twelve month period, what percentage of time do you travel? And what is the pull to travel so much?
• (39:36) Roger: Do you think this three months a year travel cycle is a season or do you think this is a new identity as explorers?
• (42:05) Roger: What tips or suggestions would you give to others who have never traveled internationally or have never planned a big road trip?
• (46:55) Roger: What is it internally that travel you feel adds to your life?

SMART SPRINT

• (48:19) In the next 7 days, confirm that you have at least two years of safe assets, cash or short-term reserves, to cover your lifestyle expenses not covered by income. Even if your plan looks feasible on paper, test its resiliency. Would it hold up if the market took a hit tomorrow?

BONUS

• (48:55) Now that we’ve finished my grandfather’s journal, to end the show I will share things I’m geeking out on. Today: electric bikes.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man
• Retiring with Enough Podcast with Dr. Peter Guidry
  
  

TRAVEL WEBSITES

• Free Range Fun Hogs- Travel Blog

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram
  
  

💬 Show Notes

In this episode, we tackle the intricacies of retirement planning and the importance of trusting your financial projections. Join us as we explore the concept of 'productive paranoia' and how it can help you avoid costly errors in your retirement strategy. We'll also hear a heartfelt travel story from Scott, who shares how he embraced international travel after a significant life change. Don't miss this enlightening discussion that will empower you to take charge of your retirement journey!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) This show is dedicated to helping you have the confidence to rock retirement.
• (01:15) How do you have confidence in your retirement plan?
• (04:44) How do you quality check your plan?
• (05:07) Let’s start by talking about the concept of productive paranoia from Jim Collins’ Great by Choice—a mindset of staying hyper-aware, building buffers, and zooming out for perspective to strengthen your retirement plan even when things seem to be going well.
• (07:09) Quality checking a retirement plan means making sure the inputs and results align with your goals.
• (08:33) What are the most common unforced errors?
• (12:21) What are some of the obstacles to quality checking your plan?
• (13:30) How do we quality check a retirement plan using metacognition?
• (19:30) What is the benefit of reading your goals out loud?
• (22:45) Another tactic is running your plan through another system.

INTERVIEW WITH SCOTT

• (24:40) Roger continues talking about traveling in retirement.
• (26:20) Roger reads an email from his client Larry, an avid RV traveler.
• (28:30) Roger introduces Scott for a conversation about international travel.
• (34:30) Scott shares thoughts about both solo and group travel.
• (39:30) Scott talks about traveling after his wife of 30 years passed away.
• (41:25) Some people feel intimidated being the third wheel even when they're invited
• (43:50) Roger says he is really interested in the micro communities of people who are comfortable enough to travel together.
• (47:55) Roger asks Scott what advice he would give to people to embrace single traveling.
• (50:30) Roger reflects on how we often overlook the beauty of our own surroundings and asks Scott what deeper meaning travel holds for him in retirement.

SMART SPRINT

• (53:20) In the next seven days, quality check your plan of record using some of the tools we talked about.

BONUS

• (53:50) Roger reads the last entry in his grandfather’s WWII journal.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man

BOOKS

Great by Choice: Uncertainty, Chaos, and Luck- Why Some Thrive Despite Them All- Jim Collins

TRAVEL WEBSITES

• Free Range Fun Hogs- Travel Blog
• Rick Steves
  
  

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram
  
  

💬 Show Notes

In this episode, Roger Whitney dives into the essential elements of not just surviving, but thriving in retirement. We kick off with a listener's story about the challenges of early retirement and the important questions that arise during this transition. Then, we shift gears to a practical planning segment on how to rebalance your retirement portfolio as life and market conditions change. Lastly, we hear from Karen and Shannon, two adventurous retired women, as they share their inspiring experiences traveling internationally and building confidence in their new lifestyles. Tune in for insights that can help you rock your retirement!

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) This show is dedicated to helping you rock retirement.
• (00:54) Next week on the show we are going to talk about how to quality check your retirement plan.

ROCKIN’ RETIREMENT IN THE WILD

• (01:34) A listener sent in an email about her retirement experience.

PRACTICAL PLANNING SEGMENT

• (04:50) In the practical planning segment, Roger reviews how to rebalance your portfolio in retirement.
• (06:30) What is rebalancing, and why does it matter in retirement?
• (08:30) How often should you rebalance your portfolio?
• (09:20) Step 1: Review your actual spending compared to your plan of record.
• (11:03) Step 2: Adjust or update your projected spending for the year ahead.
• (13:30) Step 3: Refresh your income estimates and update asset values.
• (15:19) Step 4: Run a feasibility check—use Monte Carlo simulations or your household balance sheet.
• (16:01) Step 5: Test your plan’s resilience and update your allocation strategy.
• (18:45) Step 6: Consider your contingency fund—how much cushion do you need, and how will you refill your 5-year income floor?

INTERVIEW WITH SHANNON AND KAREN ABOUT TRAVELING IN RETIREMENT

• (22:51) Roger talks with Shannon and Karen about traveling internationally in retirement as single women.
• (31:10) You had several hurdles to overcome.
• (33:13) Karen says she likes traveling with a group and hiring individual guides.
• (37:05) Newer tours are much more curated and intimate than they used to be.
• (42:25) What advice would you give to someone who is single and nervous about traveling internationally alone?

SMART SPRINT

• (47:34) ​In ​the ​next ​seven ​days,​ schedule an hour to an hour and a half during the third quarter of the year for a “retirement rebalancing meeting,” clearly outlining your plan on your calendar so you can prepare and follow through effortlessly.

BONUS

• (48:30) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man

TRAVEL WEBSITES

• The History Chicks Podcast
• Zingerman’s Food Tours
• Road Scholar

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram
  
  

💬 Show Notes

In this episode, we explore the joys and motivations behind traveling in retirement. Join us as we discuss why travel is a common goal for retirees, featuring insights from Andrew Motiwala, founder of A Good Life Abroad. Discover how to enhance your retirement travel experiences and learn about the various obstacles retirees face when planning their adventures. Tune in for inspiring stories and practical tips to help you feel 'awake' and engaged in your retirement journey!

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:35) Today on the show, we're going to talk about how to improve retirement travel.

ROCKIN’ RETIREMENT IN THE WILD

• (02:26) Two quick rocking life in retirement stories.

TRAVEL IN RETIREMENT

• (04:22) Why do we want to travel in retirement?
• (10:25) When we're thinking about traveling, what are obstacles?
• (13:11) Roger talks about types of travel to perhaps overcome some obstacles.
• (14:00) There are lots of travel opportunities in the United States or even regionally if International travel is too much.

INTERNATIONAL TRAVEL WITH ANDREW MOTIWALA

• (17:22) Roger chats with Andrew Motiwala- the founder of Good Life Abroad.
• (20:35) The Good Life Abroad helps people live abroad in a vetted curated apartment for a month or two at a time with on the ground support.
• (24:00) What are the advantages to using The Good Life Abroad versus booking it all yourself?
• (25:33) Roger asks Andrew his opinion about why people want to travel in retirement.
• (30:05) Roger asks what people do that take travel to a whole new level?
• (31:13) What percentage of people who use Good Life Abroad are solo travelers?

SMART SPRINT

• (32:30) In the next 7 days, go somewhere new in your own zip code. Try a new park, museum, trail, or even a local brewery. Step outside your usual routine and give your brain a spark.

BONUS

• (33:01) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Register for my LIVE Webinars
• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man
• The Good Life Abroad
  
  

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram
  
  

Show notes created by https://headliner.app

💬 Show Notes

In this episode, we wrap up our series on Process Over Panic by focusing on what truly deserves your attention in retirement planning. Plans change, life surprises us, and retirement is unpredictable. But a solid planning process — one you revisit and refine — will help you rock retirement. Join us for an insightful discussion that includes practical advice, personal anecdotes, and answers to listener questions.

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) In this episode, we wrap up our Process Over Panic series by focusing on what truly deserves your attention in retirement planning. Inspired by Eisenhower’s quote — “Plans are worthless, but planning is everything” — we explore why your process, not your plan, is what will carry you through retirement with confidence.

ROCKIN’ RETIREMENT IN THE WILD

• (01:50) Roger shares a heartfelt retirement message through a set of creative prompts sent by a client

PRACTICAL PLANNING SEGMENT

• (03:40) What should you pay attention to?
• (04:50) When you are doing retirement planning, you are planning for the future- something totally unpredictable.
• (06:31) What deserves your attention in retirement planning?
• (08:04) What is the intent of retirement planning?
• (09:13) What are the obstacles to achieving our intent?
• (13:10) Roger talks about how his experience in retirement planning gives him confidence.
• (13:50) The Four Pillars of Retirement Planning help to build a flexible map for retirement.
• (17:58) Roger explores the concept of the “Retirement Plan of Record” as a living document—not a one-time decision. Just like in relationships, decisions made once can lose their relevance over time if not revisited and reinforced.
• (19:25) Roger goes back through the Four Pillars to talk about how often you should revisit them.
• (24:10) Real-life reactions can reveal mismatches between theory and reality.
• (25:06) Roger recommends compartmentalizing your retirement planning.

LISTENER QUESTIONS

• (27:30) John says he didn’t like how Roger said “don't follow your retirement plan” in a recent episode.
• (29:07) Steve asks a question about asset allocation.
• (31:03) Steven asks which retirement certification to look for in a retirement advisor or coach.
• (33:02) Anonymous listener says they're looking to purchase financial management software that is secure and does good analysis.
• (34:41) Susan asks about Medicare penalties and health insurance while still employed after age 65.

SMART SPRINT

• (37:30) In the next seven days, I want you to schedule your retirement planning meetings for the rest of the year.

BONUS

• (38:33) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Register for my LIVE Webinars
• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man

BOOKS

• The Retirement Collective: Shared Wisdom From Top Retirement Coaches- Retirement Coaches Association

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram

Show notes created by https://headliner.app

💬 Show Notes

In this episode, Roger sits down with renowned investment expert Charles Ellis to explore what truly matters in retirement investing. Together, they focus on the key elements investors can actually control, the importance of maintaining cash reserves in retirement, and practical strategies to manage inflation risk.

Roger and Charles also revisit timeless lessons from Ellis’s classic book, Winning the Loser’s Game, drawing on his decades of experience in investment management. The episode wraps up with thoughtful answers to listener questions on asset allocation, indexing, and rebalancing.

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today the show is going to focus on investing.
• (01:15) Roger explains the pie-cake and says there will be a video in The Noodle this week.
• (02:38) What can we control and what can we not control in regards to investing?
• (04:55) Let’s talk about building a retirement portfolio.
• (06:52) What can you NOT control when building out a portfolio?
• (09:40) What can you control in retirement planning?

INTERVIEW WITH CHARLES ELLIS

• (13:24) Roger introduces Dr. Charles Ellis, author of Winning the Loser’s Game.
• (18:54) Roger asks Charlie about indexing and passive investing.
• (24:32) Dr Ellis talks about behavioral economics and recommends the book Thinking Fast and Thinking Slow.
• (27:20) Roger talks to Dr. Ellis about minimizing unforced errors
• (30:30) How do things change when you're in retirement and need to draw from assets?
• (35:32) Roger says for an average person, the concept of having all of their financial assets in equities would be unnerving. What advice would you give to someone who doesn’t understand the financial concepts and the kind of volatility comes with this kind of account?
• (38:43) Dr. Ellis talks about the current administration and the economy and how difficult times don’t last.
• (42:02) Roger asks Dr. Ellis about his choice to not retire.
• (46:34) Roger asks a question: What advice would you give me so I don’t look back with regret when I’m your age?
• (51:34) Dr. Ellis answers a question about fear and worry regarding the future.
• (54:22) Roger thanks Dr. Ellis for writing his books and helping so many.

LISTENER QUESTIONS

• (54:52) Today's show will focus on investing questions.
• (55:11) Kevin says he doesn’t understand Roger’s concept of pie-cake- how to allocate your resources to fund your life.
• (56:28) Vince submitted an audio question about the retirement floor.
• (59:42) John asks for Roger’s thoughts on investing in multiple index funds versus all-in-one funds. And what is the difference between a mutual fund and an index?
• (01:08:07) Ben asks about rebalancing and current market conditions.

SMART SPRINT

• (01:12:30) In the next seven days, take an assessment of the process you use when investing your assets for retirement.

  
  

BONUS

• (01:13:28) Roger thanks listeners for their positive feedback.
• (01:14:13) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Retirement Answer Man
• Sign up for The Noodle (previously known as Six Shot Saturday)

Books

• Thinking Fast and Thinking Slow- Daniel Kahneman
• Rethinking Investing- Dr. Charles Ellis
• Winning the Loser’s Game- Dr. Charles Ellis

Show notes created by https://headliner.app