💬 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

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It’s a super-sized episode today—and for good reason. We spend the bulk of the show in a deep, insightful conversation with Dr. Meir Statman, a leading voice in behavioral finance. I also walk you through the four non-financial pillars of retirement: mindset, energy, passions, and relationships. We'll talk about how to manage what you can control—and how to respond when life throws you the stuff you can’t. Plus, we answer a few of your questions. There’s a lot here, but it’s worth every minute. Let’s get to it.

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) This podcast is dedicated to helping you survive retirement with confidence
• (00:34) Today on the show we are going to focus on the non-financial realm as we continue talking about process and things we can control versus what we can’t control.

ROCKIN RETIREMENT IN THE WILD

• (02:14) Roger shares an anonymous message from a listener about her husband retiring and the confidence they have built in their retirement.

PRACTICAL PLANNING SEGMENT

• (04:50) Sometimes in retirement planning, we tend to overemphasize the financial side of things and forget about the rest of our lives.
• (06:23) Roger identifies controllables and non-controllables within the non-financial pillars of retirement.
• (14:50) Roger talks about some examples of people who focused on things that they could control and found success.
• (16:19) Roger says that the Rock Retirement Club has been a source of inspiration for him.

INTERVIEW WITH MEIR STATMAN

• (18:13) Roger introduces Meir Statman, author of A Wealth of Wellbeing.
• (19:34) Roger asks what motivated Dr. Statman to write his latest book.
• (22:10) Dr. Statman talks about his relationship with Nobel Prize winner, Harry Markowitz
• (25:57) Roger talks about behavioral finance and what it means from his perspective.
• (30:02) We talk about financial wellbeing but you also need to focus on life wellbeing.
• (31:06) Dr. Statman discusses a u-curve in life wellbeing.
• (37:25) Roger and Dr. Statman talk about accepting who you are.
• (39:30) Dr. Statman talks about the components of wellbeing.
• (41:49) Roger asks about social capital in retirement.
• (49:00) Starting a conversation is really important, Meir says
• (51:19) What is cultural capital?
• (57:32) Developing social, cultural, and personal capital becomes harder as you get older.
• (01:01:38) What is personal capital?

LISTENER QUESTIONS

• (01:04:42) Listener Brian sends a question about generating his retirement paycheck.
• (01:17:52) Another listener named Brian asks about investing in annuities.

SMART SPRINT

• (01:22:20) In the next seven days, before you get out of bed, smile and tell yourself it is going to be a great day!

BONUS

• (01:22:48) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Nick Vujicic- Motivational Speaker
• Nelson Mandela
• Mier Statman
• Retirement Answer Man
• Sign up for The Noodle (previously known as Six Shot Saturday)

BOOKS

• Man's Search for Meaning by Viktor Frankl
• I Know Why the Caged Bird Sings by Maya Angelou
• A Wealth of Well-Being: A Holistic Approach to Behavioral Finance by Meir Statman
• The Second Mountain: The Quest for a Moral Life by David Brooks
• Bowling Alone: Revised and Updated: The Collapse and Revival of American Community by Robert Putnam
• The How of Happiness: A Scientific Approach to Getting the Life You Want by Sonja Lyubomirsky
• Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie Duke

This week, we continue our Process Over Panic theme by focusing on how to take back control in uncertain times. Learn how to shift your energy toward what you can control—and let go of what you can’t. Plus, Marcia Mantell joins us to break down the latest updates on Social Security and what they mean for your retirement plan. Tune in and take one more step toward a confident, purposeful retirement.

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) This show is dedicated to helping you not just survive retirement, but rock it!
• (01:58) We have to focus on things we can control and manage the things that we can’t.
• (3:08) Today we are going to talk about social security- what we can control and what we can’t.

ROCKIN’ RETIREMENT IN THE WILD

• (03:52) Roger shares a “Rockin’ Retirement in the Wild” story from a listener and member of the RRC.

PROCESS OVER PANIC- SOCIAL SECURITY WITH MARCIA MANTELL

• (06:30) There have been a lot of changes coming out of the Social Security Administration.
• (07:40) What is controllable with Social Security?
• (09:56) What are the uncontrollables with Social Security?
• (13:51) To help us understand the current state of Social Security, we're talking with Marcia Mantell.
• (15:38) Marcia says facts over fear are SO important and she is not fearful but watchful.
• (18:49) What changes have happened recently with social security?
• (23:00) There are different proposals floating around regarding Social Security to improve the implementation of the program.
• (25:10) Marcia discusses her thoughts on the idea that Social Security will run out by 2033.
• (28:55) How easy is it to create a sustainable Social Security system?
• (31:47) The goal of Social Security is to provide a basic income, roof over our head, and food on the table.
• (33:10) Over 50% of people rely on Social Security for their primary source of income.
• (36:10) If you are 55 or older, should you make a material change related to what you anticipate your Social Security to be?

SMART SPRINT

• (40:56) In the next seven days, identify one thing in your retirement planning you can’t control that’s draining your energy. Then, take one small action to shift that focus toward what you can control. Awareness is the first step to rocking retirement—and life.

BONUS

• (41:49) Next installment from missions flown by Roger’s grandfather in World War II

REFERENCES

• Retirement Answer Man
• Sign up for The Noodle (previously known as Six Shot Saturday)
• Mantell Retirement Consultants
• Social Security Administration
  
  

Show notes created by https://headliner.app

💬 Show Notes

In this episode, we tackle the pressing question, "Is this time different?" as we navigate the complexities of today's political and economic landscape. Join us as we explore the importance of perspective in retirement planning and discuss the basics of structured notes. We'll also introduce our upcoming events and share insights from renowned experts in the field. Don't miss this enlightening discussion that aims to help you not just survive retirement, but thrive!

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) The narratives that you consume and ultimately create for yourself define your reality
• (00:45) Today we are going to finish up our basics with the basics of structured notes and also talk about “process over panic” regarding the current state of affairs.

IS THIS TIME DIFFERENT?

• (04:10) Roger discusses whether the issues in the economy are different this time around then in times past.
• (07:40) The point of this discussion is to identify what is happening and how to respond to it.
• (08:40) A better question when it comes to planning is “Is this time permanent?”
• (10:58) Roger talks about the current markets versus historical markets.
• (11:46) Since 1928, there have been around 26–28 bear markets, averaging a 35% drop and lasting about 9.6 months. They tend to come around every five years—and they’ve never been permanent.
• (12:47) From presidential elections to battles with the Fed, these cycles may feel chaotic—but they’re nothing new and they’re not permanent.
• (14:31) Roger talks about “process over panic”

STRUCTURED NOTES

• (21:34) Roger goes over the basics of structured notes.
• (22:17) Roger uses food as a metaphor to break down investments—organic options like stocks and bonds are simple and transparent. But structured notes? They're the Twinkies of the investment world.
• (25:50) Structured notes at their core are debt.
• (26:57) Roger compares structured notes to wine—different types, different flavor profiles, and even the same variety can vary from year to year or region to region.
• (28:31) What are some types of structured notes?
• (29:22) What should you know about your structured notes?
• (32:00) Each structured note has a prospectus, a legal document that investment managers are required to create, but they are very difficult to understand
• (34:21) Roger sees structured notes as a potential building block for a retirement portfolio but avoids them due to their complexity.

SMART SPRINT

• (36:35) In the next seven days, take five or ten minutes to write out your process for retirement planning.

BONUS

• (37:44) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Retirement Answer Man
• Sign up for The Noodle (previously known as Six Shot Saturday)
• Thomas Sowell
• Wall Street Journal
• Claude AI
• ChatGPT
  
  

💬 Show Notes

In this episode, we dig into fixed annuities and U.S. Treasuries—how they can bring stability and income to your retirement. We’ll also discuss Social Security risks and how to stress-test your plan so you can retire with confidence. Let’s get you one step closer to rocking retirement!

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today we talk about the basics of fixed annuities.
• (00:59) Roger continues the discussion on navigating retirement planning during uncertain times.
• (02:06) Listener, Christina, asks Roger to consider stress testing including Social Security for the average potential retiree.
• (07:17) Roger defines fixed annuities and how they fit into the retirement planning process.
• (07:54) Roger evaluates the similarities and differences between CDs and fixed annuities.
• (10:08) What are the negatives of fixed annuities?
• (12:27) How are the rates of annuities determined?
• (14:08) What are the primary uses of fixed annuities?
• (15:12) Roger goes through an example of optimization using fixed annuities.

LISTENER QUESTIONS

• (19:38) Listener, Barbara, asks Roger to educate listeners about the basics of treasuries.

SMART SPRINT

• (24:36) In the next seven days, I want you to shift the way you approach your retirement planning. Think of yourself as a scientist—you're on a mission to discover and understand. When we run these stress tests or feasibility tests, the goal is to uncover where potential risks might exist and where opportunities could be hiding.

BONUS

• (25:25) Roger reads from his grandfather’s WWII Journal

REFERENCES

• Retirement Answer Man
• Sign up for The Noodle (previously known as Six Shot Saturday)
• Social Security Administration
• TreasuryDirect
• Immediate Annuities

Books:

• The Wild Blue: The Men and Boys Who Flew the B-24s Over Germany- Stephen Ambrose

Show notes created by https://headliner.app

💬 Show Notes

In this episode, Roger Whitney takes on one of the biggest challenges facing retirees today: how to plan confidently when the markets are anything but steady. He’s joined by Dr. Bobby Dubois for a thoughtful conversation about building the energy and vitality needed for a meaningful retirement. Together, they share simple, practical steps to help listeners take charge of their physical well-being—so they can show up strong, not just today, but for years to come. Plus, listeners will hear an inspiring story of someone making real progress on their retirement journey.

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Retirement planning is about creating a great life.
• (01:19) Roger celebrates team members Erin and Troy today.
• (02:08) Roger reflects on the messaging surrounding the current state of the markets.
• (04:45) What should you do to cope with the turbulent markets and economy?

PRACTICAL PLANNING WITH DR. BOBBY

• (10:16) Today's practical planning is focused on building energy so you can show up for retirement.
• (11:00) Roger introduces Dr. Bobby Dubois and talks about his podcast, Live Long and Well.
• (12:10) Dr. Bobby talks about the basics of building energy.
• (13:30) The power of compounding little consistent habits over time makes a big difference.
• (15:20) Roger and Dr. Bobby discuss the importance of weight for overall health.
• (17:55) What basic things can you focus on to help with building energy?
• (18:05) Dr. Bobby talks about sleep and gives tips on how to improve sleep quality.
• (22:45) Exercise is important for building energy- focus on cardio, strength, and balance.
• (35:10) Dr. Bobby talks about optimal weight and two simple yet effective tips to maintain a healthy weight.
• (40:00) There will be links to specific episodes of Live Long and Well in our newsletter, The Noodle, this week.

ROCKIN’ RETIREMENT IN THE WILD

• (42:28) Roger reads a note from an anonymous listener about rocking retirement.

RETIREMENT ANSWER MAN LISTENER SURVEY

• (44:45) Roger shares some results from The Retirement Answer Man listener survey.

SMART SPRINT

• (47:14) In the next seven days, start by putting a few of Dr. Bobby’s ideas into action—get moving and build some momentum around your physical health. Once you’ve got a little rhythm going, shift your focus to tackling the stress that comes with market uncertainty. One step at a time—that’s how we build a more confident retirement.

BONUS

• (48:24) Roger reads an excerpt from his grandfather's WWII journal.

REFERENCES

• Live Long and Well Podcast with Dr. Bobby
• Retirement Answer Man
• Sign up for The Noodle (previously known as Six Shot Saturday)

BOOKS:

• Tiny Habits: The Small Changes That Change Everything- BJ Fogg, PHD

Show notes created by https://headliner.app

💬 Show Notes

In this episode, we break down the essentials of asset allocation and time management in retirement planning. Join us as we explore why it's crucial to focus on the basics rather than getting lost in market predictions and investment products. We also share insightful listener questions and another entry from my grandfather's World War II journal. Tune in to learn how to rock your retirement!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) This week we continue talking about the basics with asset allocation.
• (02:00) Time is your most precious resource.
• (03:36) Retirement planning is a means to an end.
• (05:45) We don’t want to waste time on trying to predict the future but on more important things like spending time on and in your life.
• (06:15) Spend time on the basic building blocks of retirement planning.
• (07:05) How does asset allocation fit into retirement planning?
• (09:10) Inflation is the natural increase in the cost of living over time.
• (13:52) What is asset allocation?
• (16:10) Part of asset allocation is a concept called diversification.
• (18:48) What is asset allocation best used for?
• (21:50) Two of the biggest determinants of where your asset allocation should be are your psychological preference and your time horizon.

LISTERNER QUESTIONS

• (24:13) Steve asks whether they should use a single vendor for all their accounts or diversify where they have their money housed in terms of investment firms.
• (26:29) The next question comes from Nick related to asset allocation.
• (32:18) Question from an RRC member about Vanguard offering a direct conversion.
• (35:48) Audio question from Leah about using IRA contributions to start building out a bond ladder or a shorter term allocation.
• (39:50) Audio question from Patty who recently retired and needs to decide what to do with her 401k assets and how to choose an advisor.

ROCKIN’ RETIREMENT IN THE WILD

• (49:01) James says he is overfunded for retirement even with a 10%-15% market correction but will aim to do better.

SMART SPRINT

• (50:47) In the next seven days, think about your asset allocation and think about it within time segments.

BONUS

• (51:33) Roger reads from his grandfather’s WWII journal.

REFERENCES

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

Show notes created by https://headliner.app

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💬 Show Notes

In this episode, we kick off a month-long series on retirement basics, emphasizing the crucial role of partnership in planning for retirement. We discuss why it's vital for both spouses to be actively engaged in financial conversations, ensuring that neither partner feels overwhelmed or excluded. Plus, we hear inspiring stories from a couple of listeners who are thriving in their retirement journeys! Don't miss this episode!

OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN

• (00:38) We're starting a month-long series on retirement basics.
• (00:56) Today we are going to talk about what every spouse should know about their retirement plan.
• (01:45) It's important for each spouse to delegate responsibilities when planning for retirement.
• (03:00) Roger talks about the pressure of being the retirement planner in a couple and the risks of being the non-planner.
• (05:00) Audio clip from our paraplanner Erin about a recent experience volunteering for Tax Aide.
• (07:40) What spousal participation should there be in retirement planner meetings? And what meetings need to happen?
• (08:07) Roger goes through the four initial meetings of building a retirement plan of record.
• (15:19) At least twice a year, the non-planner spouse should participate in a planner meeting to refresh all of these things.
• (15:30) What should the planner spouse do to help create a productive meeting?
• (17:45) What are the risks as the financial manager spouse?
• (19:29) What should non-financial manager spouses do?
• (22:50) Roger talks about what the non-financial manager spouses should know.
• (25:30) What should your advisor do if you are working with one?

PUBLIC SERVICE ANNOUNCEMENT RELATED TO SOCIAL SECURITY

• (27:50) WEP and GPO changes are causing confusion with Social Security recipients.

ROCKING RETIREMENT IN THE WILD

• (29:56) Listener shares about the challenges of decumulation and overcoming a lifetime of frugal habits.
• (32:28) Listener Kathleen talks about dog-sitting in retirement.

SMART SPRINT

• (33:53) In the next seven days, review the time sensitive action items that may apply to you when it comes to the month of April.

BONUS

• (35:19) Roger reads an excerpt from his grandfather's WWII journal.

REFERENCES

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

Show notes created by https://headliner.app