Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®
3 Listeners
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Top 10 Retirement Answer Man Episodes
Goodpods has curated a list of the 10 best Retirement Answer Man episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to Retirement Answer Man for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite Retirement Answer Man episode by adding your comments to the episode page.
What Is the FIRE Movement?
Retirement Answer Man
02/07/24 • 57 min
Have you heard of the FIRE movement? It’s become increasingly popular in the past few years. Even if you are technically too old to retire early, there is something we can all learn from FIRE seekers.
In this episode, Kevin Sebesta, a real live FIREer joins me to discuss what FIRE is, how he achieved it, and what people who retire early do with their time.
Make sure to stick around for the Bring It On segment with Dr. Bobby Dubois to learn whether supplements are worth the time and money we spend on them. Dr. Bobby helps us develop a framework for deciding whether supplements are right for us. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I READ IN JANUARY
- [2:02] Books I read last month
PRACTICAL PLANNING SEGMENT
- [5:55] Meet Kevin
- [9:56] Defining FIRE
- [15:24] Who enjoys FIRE
- [21:23] Why FIRE has caught on
BRING IT ON WITH DR. BOBBY DUBOIS
- [26:12] Why are supplements important?
- [30:54] How should we go about exploring supplements?
- [39:44] What do the studies show?
- [44:18] What about multivitamin supplements?
- [48:20] What supplements does Dr. Bobby support?
- [52:10] The takeaways
TODAY’S SMART SPRINT SEGMENT
- [53:58] Read a book!
Resources Mentioned In This Episode
BOOK - Scarcity Brain by Michael Easter
BOOK - Moby Dick by Herman Melville
BOOK - The Eye of the World by Robert Jordan
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center
3 Listeners
How Do I Refill My Retirement Income Floor?
Retirement Answer Man
11/29/23 • 36 min
Have you been wondering what you’re supposed to do when it comes to refilling your retirement income buckets? So has Michael. In this episode, I’ll go into further detail about how to do that.
Stay tuned for the answer to Michael’s question and many others as well as a chat with Kevin Lyles on how to ease into retirement in the Bring It On segment. Press play to get started. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS
- [4:38] How to reinvest retirement income floor
- [15:21] Contribute to grandchild’s Roth accounts to teach compounding
- [16:58] How is a non-deductible IRA contribution withdrawal handled?
- [19:51] The pros and cons of Everplans
- [24:26] On organizing books
BRING IT ON
- [25:45] How to ease into retirement
TODAY’S SMART SPRINT SEGMENT
- [33:45] Check your liquidity
Resources Mentioned In This Episode
BOOK - The Road to Character by David Brooks
BOOK - The Second Mountain by David Brooks
Everplans.com
Episode 473 - How Is Deferred Compensation Taxed When I Receive It?
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center
2 Listeners
Rocking a Solo Retirement: Nick's Goals/ Laura's Goals
Retirement Answer Man
01/15/25 • 53 min
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
2 Listeners
How to Retire with Christine Benz
Retirement Answer Man
12/04/24 • 62 min
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
The Retirement Manifest- Fritz Gilbert
BOOKS
How to Retire: 20 lessons for a happy, successful, and wealthy retirement- Christine Benz
Take Action Now for a Resilient Retirement
Retirement Answer Man
02/12/25 • 48 min
💬 Show Notes
In this episode, we tackle the essentials of retirement planning with an engaging discussion led by Roger Whitney. We explore the importance of prioritizing what truly matters in your retirement journey and how to create a resilient plan that secures your desired outcomes. Roger emphasizes that retirement planning is merely a tool to achieve a fulfilling life, not the end goal itself. Joining him is Nicole Mills, who shares insights and updates on Six Shot Saturday and reads listener questions about retirement. Don’t miss this enlightening episode!
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
- (00:30) Roger says retirement planning is not that interesting, but a means to an end.
- (01:41) Roger challenges listeners to take action on what is talked about THIS week.
PRACTICAL PLANNING SEGMENT
- (02:50) Retirement planning is a self-interested process.
- (05:28) What questions do you want to answer in a healthy way?
- (06:45) Now is the time to make sure you have a resilient plan.
- (10:54) How do we make a plan resilient?
- (18:30) Markets are at an all time high, don’t get overly optimistic.
LISTENER QUESTIONS
- (20:05) Nichole Mills joins Roger on the show.
- (20:45) We have some changes happening with Six Shot Saturday.
- (22:22) Listener TJ asks about building a bond ladder as he gets closer to retirement.
- (28:25) Jeff asks an optimization question about withdrawals from assets in retirement.
- (31:37) DJ is a new retiree and asks how Roger determines whether to make withdrawals annually, semi-annually, quarterly, or monthly.
- (36:30) Bill says he interviewed a financial planner and asks for clarification on fiduciary and non-fiduciary advisors.
ROCKING RETIREMENT IN THE WILD
- (39:30) Roger talks about his new segment.
- (40:45) Listener Jeff talks about his retirement, irrational fears of the unknown, and how his plan gave him confidence.
SMART SPRINT
- (43:50) In the next seven days, if you are within three years of retirement, get a resilient plan of record in place.
BONUS
- (45:40) Roger shares the next mission from his grandfather’s WWII journal.
REFERENCES
1 Listener
Retirement Year End Planning: Withdrawing from Assets
Retirement Answer Man
11/20/24 • 43 min
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 Easter
https://twopct.com
Dinkytown Calculators- specifically the 1040 tax estimator
https://dinkytown.net
Schwab Required Minimum Distribution Calculator
https://www.schwab.com/ira/ira-calculators/inherited-ira-distribution-calculator
Six Shot Saturday
https://6shotsaturday.com
Show notes created by https://headliner.app
1 Listener
What is True Retirement Planning? With Christine Benz
Retirement Answer Man
03/13/24 • 51 min
Retirement planning has changed over the years, but has the industry evolved to keep up?
Your retirement needs are much different from those of your parents' generation. This is why it is important to focus on retirement planning in a holistic way rather than from solely a financial perspective.
Morningstar’s Christine Benz joins me today on this episode of Retirement Answer Man. This seasoned retirement journalist shares her thoughts on the state of retirement planning, long-term care, investing in retirement, and what encompasses true retirement planning.
Listen in to gain more perspective as you navigate your retirement journey. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH CHRISTINE BENZ
- [4:55] The state of retirement planning as a process
- [18:30] The state of investments for retirement planning
- [22:16] The state of long-term care
- [25:26] How to begin to plan for retirement decumulation
LISTENER QUESTIONS
- [30:45] About opening a Roth for a child
- [32:51] How to create a 5-year income floor with financial capital
- [37:11] On using bonds to fund the 5-year income floor
- [41:44] Should you keep investment accounts under the FDIC and SIPC limits?
- [46:30] Should I have a Simple IRA and Solo 401K?
TODAY’S SMART SPRINT SEGMENT
- [50:00] Understand what this year’s retirement contribution levels are
Resources Mentioned In This Episode
BOOK - More than Enough by Mike Piper
BOOK - Die with Zero by Bill Perkins
Morningstar Christine Benz
The Longview Podcast
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center
1 Listener
How Can I Reduce the Chances of Running Out of Money in Retirement?
Retirement Answer Man
12/20/23 • 33 min
It seems like no matter how much we save we always have that nagging worry about whether it is truly enough.
One of our listeners is looking for ways to reduce the chances of running out of money in retirement. My response to his question may surprise you. Listen in to hear what I have to say about improving his retirement trajectory. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS
- [2:21] What can I do to ensure not run out of money in retirement
- [8:43] A rental property question
- [11:52] On Roths being separated in Fidelity
- [13:30] Can you roll over an old 401K into your current plan
CATCHING UP WITH JOELLE FROM THE 2022 RETIREMENT PLAN LIVE
- [17:05] Joelle has formed a social network in her new town
- [19:23] How her finances have fared over the past 2 years
- [24:44] How a 5-year cash cushion has given her peace of mind
- [30:56] How Joelle has learned to let go of having one right way to do things
TODAY’S SMART SPRINT SEGMENT
- [32:38] Enjoy your family
Resources Mentioned In This Episode
Retirement Plan Live with Joelle - Relocation For Retirement 416, 417, 418, 419
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center
1 Listener
Retirement Year End Planning: Contributing to Assets
Retirement Answer Man
11/13/24 • 38 min
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
Retirement Answer Man- FREE Resource Center
Show notes created by https://headliner.app
1 Listener
Should I Consolidate My Accounts in Retirement?
Retirement Answer Man
11/15/23 • 33 min
If you have different retirement accounts at various brokerage firms, you may wonder whether you should consolidate them. One listener asked me that very question today. I’ll answer it along with several others–don’t miss the one about my finance book recommendations.
Are you curious about how you can improve your relationship in retirement? Then, make sure to listen to Mark Ross’s suggestions in the Bring It On segment. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS
- [5:51] Should Greg and his wife consolidate their accounts?
- [11:39] Using the Obsidian note-taking app
- [13:42] Larry’s question on RMDs and down markets
- [16:34] My recommendation on reading material for Sandy on money management
- [19:41] What is a LIRP?
BRING IT ON WITH MARK ROSS
- [22:12] The relationship pillar requires communication
- [25:16] Have a retirement plan of record
TODAY’S SMART SPRINT SEGMENT
- [30:07] Review these end-of-year housekeeping tips
Resources Mentioned In This Episode
BOOK - The Behavioral Investor by Daniel Crosby
BOOK - 48 Days to the Work You Love by Dan Miller
BOOK - Don’t Retire, Rewire by Jeri Sedlar
BOOK - Younger Next Year by Chris Crowley
BOOK - Stacked by Joe Saul-Sehy
BOOK - A Simple Plan to Wealth by J.L. Collins
BOOK - Winning the Loser’s Game by Charles Ellis
BOOk - The Retirement Income Guidebook by Wade Pfau
The Retirement Answer Man GoodReads group
Notion
Obsidian note-taking app
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center
1 Listener
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FAQ
How many episodes does Retirement Answer Man have?
Retirement Answer Man currently has 586 episodes available.
What topics does Retirement Answer Man cover?
The podcast is about Retirement, Investing, Podcasts, Self-Improvement, Education and Business.
What is the most popular episode on Retirement Answer Man?
The episode title 'What Is the FIRE Movement?' is the most popular.
What is the average episode length on Retirement Answer Man?
The average episode length on Retirement Answer Man is 40 minutes.
How often are episodes of Retirement Answer Man released?
Episodes of Retirement Answer Man are typically released every 7 days.
When was the first episode of Retirement Answer Man?
The first episode of Retirement Answer Man was released on Mar 4, 2014.
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