What are you doing to make friends in retirement? Mark Ross and I explore this challenge in our Bring It On segment. Listen in to hear how I made a new friend this week and stick around to hear the listener questions and what you could be doing to improve your social life.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:36] What should Ronnie consider when transferring investment accounts? [14:30] Clarifying the 401K catch-up provision for high-income earners [20:12] Clarifying the 5-year rule with each conversion [22:44] Capital gains strategies for downsizing your primary residence [26:35] Will claiming a personal SS benefit early affect a spousal benefit?  BRING IT ON WITH MARK ROSS  [30:40] How do we make new friends in retirement?  TODAY’S SMART SPRINT SEGMENT  [37:57] Take stock of your social network to see how you could improve  Resources Mentioned In This Episode The Roth series 494, 495, 496, 497, 499 BOOK - A Simple Path to Wealth by J.L. Collins Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center

What Should I Consider When Transferring Investment Accounts?

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

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Self-Improvement

Does a withdrawal strategy in retirement have to be complicated or can you simply do a reverse of dollar cost averaging? In this episode, we’ll take a look at how reverse dollar-cost averaging would work by using an example and discover who it works for. Click play to learn if this withdrawal strategy would work for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH A LISTENER QUESTION  [1:44] Is it okay to do a reverse dollar-cost average for withdrawals in retirement?  IN THE NEWS  [14:30] The rules have changed for Inherited IRAs  LISTENER QUESTIONS  [18:55] What should Vicky do with the proceeds from the sale of her home? [24:09] What to do with a 10-year inherited IRA [27:55] What is the best way to fund bucket #1 to prep for retirement? [35:10] A topic suggestion  TODAY’S SMART SPRINT SEGMENT  [36:11] Evaluate the resilience of your plan  Resources Mentioned In This Episode Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK -  Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center  

Can I Do a Reverse Dollar-Cost Averaging for Withdrawals in Retirement?

We would all love to have that magic number–the exact amount we need to retire. However, since there are so many unknowns it is impossible to attain an exact number. This is why the big question of retirement is a complex one.  In this episode, I’ll walk a listener through the process of how she can learn how much she really needs to retire. Make sure to stick around to hear about the books I read in March. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [1:46] How much do I really need to retire? [20:30] A comment on the FIRE movement [22:09] How to change advisors [27:28] How to get into the decumulation state of mind [32:37] Feedback on the Michael Kitces interview  BOOKS I READ IN MARCH  [34:00] Books I read this past month  TODAY’S SMART SPRINT SEGMENT  [36:22] Revisit your feasible plan of record to see how resilient it is  Resources Mentioned In This Episode BOOK -  Gulag Archipelago by Aleksandr Solzhenitsyn BOOK -  Tai Pan James Clavell BOOK -  Soul of an Octopus by Sy Montgomery  The State Of Retirement Planning With Michael Kitces What is the FIRE Movement? NewRetirement.com Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK -  Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center

How Much Money Do I Really Need to Retire?

Have you been wondering what retirement is like for real retirees out in the wild? With the success of our Retirement Plan Live series, we decided to try mini-case studies to learn more about what retirees like you are doing to rock retirement.  In this episode, you’ll hear some feedback from Sarah who asked a question on the show about a year and a half ago. Listen in to hear how she responded to the advice I gave. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN A MINI CASE STUDY  [2:27] Sarah’s case  [8:06] What you can do for you [10:01] A plan of record is the first step  LISTENER QUESTIONS  [13:00] What should Lucas take into account as he prepares to pay off his mortgage [20:00] Investing in retirement with a pension [26:08] How Joe is incorporating the Die With Zero philosophy by gifting  ROCK LIFE WITH DR. BOBBY DUBOIS  [28:24] What is rucking? [29:27] Why try rucking? [40:49] How do you get started rucking? [48:44] How to measure the benefits of rucking  TODAY’S SMART SPRINT SEGMENT  [50:00] Go try rucking by walking with something on your back   Resources Mentioned In This Episode  Retirement Plan Live: Their Financial Resources - listen to Sarah’s question here Go Ruck BOOK -  Die with Zero by Bill Perkins BOOK -  The Power of Moments by Chip Heath Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK -  Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center

Ask Better Retirement Questions

Michael Kitces is one of the innovators in the retirement planning and financial services space. His blog and ecosystem of resources help retirees and financial advisors gain the base knowledge needed to rock retirement. On this episode of Retirement Answer Man, Michael joins me to discuss the state of retirement planning, how it has changed, and how you can live your retirement to its fullest. Listen to this interview with one of the great minds in retirement planning.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH MICHAEL KITCES  [5:20] Trends in retirement planning [22:40] How to avoid dying with too much money  [36:51] How to choose a retirement planner [43:38] How does someone choose a retirement planning firm  TODAY’S SMART SPRINT SEGMENT  [49:04] Evaluate the quality of your process for making decisions in retirement  Resources Mentioned In This Episode BOOK -  Die with Zero by Bill Perkins BOOK -  It’s Not Complicated by Rick Nason Kitces.com Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK -  Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center

The State of Retirement Planning with Michael Kitces

Have you ever wondered why it is so hard for you to spend your money? Even now after all these years of saving you know you have enough, but it’s hard to let go and untie those purse strings. Today, my friend and renowned author, Michael Easter joins me to discuss overcoming frugality from a different perspective. Click play to hear about the evolutionary mismatch that hinders you from spending your money.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS  [2:38] Clarification on the 5-year Roth conversion rule [4:36] Simple IRA rules [6:50] The tax impact of waiting to take Social Security  PRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER  [12:00] Why Michael pursued the concept of the comfort crisis [18:32] How discomfort becomes rewarding [20:20] How we can change our decisions in small ways [24:25] How to manage your scarcity brain in retirement [33:48] We often focus too much on the numbers [36:59] The scarcity loop  TODAY’S SMART SPRINT SEGMENT  [41:10] Take the stairs  Resources Mentioned In This Episode BOOK -  The Comfort Crisis by Michael Easter BOOK -  Scarcity Brain by Michael Easter Stutz Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK -  Rock Retirement  by Roger Whitney Roger’s Retirement Learning Center

What Should I Consider When Transferring Investment Accounts?

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