In this episode we welcome the legendary Bill Bengen! He is the creator of the infamous 4% rule that is referenced in any quality conversation about retirement and withdrawal rates. There's been spirited debates and lengthy discussions about Bengen's research but there is no one better than the man himself to weigh in on what he thinks about it 30 years later. We talk about the evolution of Bengen's research, his thoughts on market timing vs. managing risk, and he gives us a preview of his upcoming book geared toward consumers.

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Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

🌐 Bill Bengen Wikepedia page

Bill Bengen on Kitces podcast/blog 

📗 Conserving Client Portfolios During Retirement

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Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

Today Bill and Jackie are joined by another genius in the world of retirement planning research, David Blanchett, PhD, CFA, CFP. In his role at PGIM, David is responsible for Target Date Funds and Retirement Spending Portfolios. In this episode he discusses redefined retirement concepts, the myths surrounding the 60/40 portfolio and some practical adjustments of the 4% rule. He also explains the 'retirement spending smile,' and retirement strategies for late starters.

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Resources mentioned on the show:

🌐David's Website

David's Latest Research

A Time-Honored Strategy Puts Your Retirement at Risk of Financial Ruin

Guided Spending Rates: Rethinking “Safe” Initial Withdrawal Rates

Redefining the Optimal Retirement Income Strategy

If you enjoyed this episode, please follow the show on your podcast player and leave us a rating or review. If you want to watch, be sure to subscribe to our YouTube Channel. This helps others find the show and keeps us creating great content for you!

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

In this episode we turn the tables as Bill joins Dr. Jay Zigmont, CFP on the Childfree Wealth podcast. Bill shares his journey as a late starter physician who lived largely a paycheck-to-paycheck existence until waking up at age 50. He now co-hosts the 'Catching Up to FI' podcast to help other late starters. Jay is the author of the upcoming book 'The Childfree Guide to Life and Money' and the founder of Childfree Wealth, a financial planning firm that addresses the needs of childfree people in a way that traditional financial companies don’t. Jay and Bill cover topics like investing, long-term care, and preparing for unexpected medical emergencies.

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Resources mentioned on the show:

🌐 Childfree Wealth 

Order Jay's new book: The Childfree Guide to Life and Money

If you enjoyed this episode, please follow the show on your podcast player and leave us a rating or review. If you want to watch, be sure to subscribe to our YouTube Channel. This helps others find the show and keeps us creating great content for you!

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

Hard to believe that 2024 is almost over but before we close it out, we have some end-of-year financial tips with special guest Eric Simonson, CFP and CEO of Abundo Wealth (an advice-only financial planning firm). Eric shares insights on maximizing different types of contributions, FSAs, charitable donations, and other tax strategies. There are a few things you’ll want to check off your financial to-do list before December 31st; some have a true deadline, and others are smart things you should review every year.

Eric also clues us in on a unique service the firm offers- 'travel hacking'. They love teaching skills such as budgeting for trips, finding cost-effective travel options, and maximizing travel rewards programs for their clients. 

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 DeleteMe: Your personal data is yours again. Hands-free subscription service that removes you from data broker sites. Enter the code Catchingup at checkout to get 20% off 

Resources mentioned on the show:

🌐 Abundo Wealth: Advice-Only Financial Planning for Everyone 

End of Year Financial Checklist: The Must-Do's 

Abundo Wealth Blog

Eric Simonson Interview on Kitces podcast

Beginning in 2025, the catch-up contribution increases for those age 60, 61, 62 or 63 is an extra $11,250

If you enjoyed this episode, please follow the show on your podcast player and leave us a rating or review. If you want to watch, be sure to subscribe to our YouTube Channel. This helps others find the show and keeps us creating great content for you!

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

Our guest today is Jacqueline (Jack) Howard, head of Money Wellness at Ally Financial, a leading voice in financial health & wellness, and fierce change maker. We are thrilled to bring you this special episode recorded live from FinCon 2024 in Atlanta, GA! It's no secret that we love Ally and talk about them often on the podcast. From the high yield savings accounts to the cool buckets that are perfect for allocating your sinking funds, they're our favorite. But what really blew us away in this interview was Jack's money story and how it led to her incredible work as the face of financial wellness at Ally. 

Jack blends personal finance and psychology to help people achieve holistic financial well-being that helps shift their perspective on money. She shares more about Ally's newest community initiative, Money Roots, a free financial education program designed to help people uncover the 'why' behind their money behaviors. Jack also gets vulnerable with us as she shares her own resilient story of the loss of her mother as a young girl and winning her heroic battle against breast cancer. With her giving spirit, she proudly served as chair of the Making Strides Against Breast Cancer of Detroit in 2023 and 2024.

Special thanks to LLC Attorney for sponsoring the Podcast booth at FinCon 2024.

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Thank you to our sponsor:

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Resources mentioned on the show:

🌐 Ally.com

Sign up for free Ally ‘Money Roots’ Virtual Workshop

5 steps to uncover your money story

Jack's appearance on the show 'Side Hustlers' (Episode 2)

Catching Up to FI Episode: Sinking Funds Are Sexy | Bill Yount & Becky Heptig | 003

Support Jack’s favorite charity: Making Strides Against Breast Cancer of Detroit (Search on 'Jacqueline Howard')

If you enjoyed this episode, please follow the show on your podcast player and leave us a rating or review. This helps others find the show and keeps us creating great content for you!

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

Karsten Jeske also known as “Big ERN” is the founder and genius behind Early Retirement Now. He writes on all topics related to personal finance but is best known for his comprehensive series on safe withdrawal strategies.  In this episode he dives deep into the intricacies of safe withdrawal rates, sequence of return risk, the importance of market valuations for retirees and the 'one more year' syndrome often discussed in the Financial Independence community. Karsten also shares his personal journey from a modest upbringing in Germany to early retirement in the U.S.

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 DeleteMe: Your personal data is yours again. Hands-free subscription service that removes you from data broker sites. Enter the code Catchingup at checkout to get 20% off 

Resources mentioned on the show:

🌐 Early Retirement Now

The Safe Withdrawal Rate Series

Ten things the “Makers” of the 4% Rule don’t want you to know (SWR Series Part 26)

Karsten on Two Sides of FI YouTube

 If you enjoyed this episode, please follow the show on your podcast player and leave us a rating or review. This helps others find the show and keeps us creating great content for you!

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

In this episode, Jesse Cramer discusses the essential considerations for pre and post-retirement planning and the major factors late starters should consider. Jesse is founder of the award winning 'The Best Interest' blog and podcast. He left a career as a mechanical and aerospace engineer to work with clients at a fiduciary, fee-only financial planning firm. Now, he uses those valuable engineering skills to simplify the most complex financial topics into fun explanations for his clients and his audience. 

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 Boomer Benefits: The nation’s leading family-owned Medicare brokers

 DeleteMe: Your personal data is yours again. Hands-free subscription service that removes you from data broker sites. Enter the code Catchingup at checkout to get 20% off 

Resources mentioned on the show:

🌐 Best Interest Blog

Best Interest Podcast

Blog Post: The Market Reacts to An Assassination Attempt

Blog Post: It’s Not Too Late: 6 Finance Tips for Older Beginners

Blog Post:  NVIDIA’s Day in the Sun(flower)

Social Security Made Simple | Mike Piper | 054

Open Social Security calculator

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

By day, Dr. Disha Spath is an internist caring for her patient’s physical and mental health.  By night, my she's known as The Frugal Physician and hosts the Finding Financial Freedom podcast. In this episode, Disha shares her personal journey from financial struggles to becoming an advocate for frugality and financial independence. She also discusses the differences between frugal and cheap, the gender wage gap, and strategies to manage income disparities in relationships. 

*Trigger warning: There are brief mentions of suicide in this episode.

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 Boomer Benefits: The nation’s leading family-owned Medicare brokers

 DeleteMe: Your personal data is yours again. Hands-free subscription service that removes you from data broker sites. Enter the code Catchingup at checkout to get 20% off 

Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

🌐 The Frugal Physician

Finding Financial Freedom Podcast

SPIVA® U.S. Scorecard, Year-End 2023, S&P Dow Jones Indices 

“The Loser’s Game” by Charles D. Ellis, Financial Analysts Journal, Jan/Feb, 1995

“Why Lifestyle Creep is Mostly a Myth” by Nick Maggiulli, Of Dollars And Data, July 23,2024

“She makes $550K a year. Her husband makes $60K.  Here is how it affects her relationship”, July 25, 2024, CNBC

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

Andy Hill is an award-winning blogger, podcaster, Youtuber and family finance coach. All under the brand of 'Marriage, Kids, and Money’, his primary focus is helping families build wealth and happiness. He shares his inspiring story of going from a $50,000 negative net worth to achieving financial independence and now living his best 'Coast FI' life with his family. Andy also shares how he is creating a meaningful legacy of giving and generosity with his kids.

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 Boomer Benefits: The nation’s leading family-owned Medicare brokers https://boomerbenefits.com/catchingup/ 

 DeleteMe: Your personal data is yours again. Hands-free subscription service that removes you from data broker sites. Enter the code Catchingup at checkout to get 20% off  http://joindeleteme.com/catchingup

Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

🌐 Marriage, Kids, and Money Website https://www.marriagekidsandmoney.com

YouTube https://www.youtube.com/@MarriageKidsandMoney

Instagram http://instagram.com/marriagekidsandmoney

Podcast https://marriagekidsandmoney.com/podcast-archive/

Coast FIRE Number: What Is It And How To Calculate It https://marriagekidsandmoney.com/coast-fire-number/ 

Charities for Children: 12 Organizations Giving Kids a Better Chance at Life https://marriagekidsandmoney.com/top-charities-for-children/

An Alternative to 10% Giving for the Modern Family https://marriagekidsandmoney.com/podcast/alternative-to-10-percent-giving/

🕒 Timestamps/Chapters:

00:00 The Financial Wake-Up Call

00:41 Discovering the Debt-Free Movements 

02:25 Introduction to Andy Hill

06:18 Andy Hill's Financial Journey

13:37 The House Blunders and Lessons Learned

17:31 The Psychological Benefits of Being Mortgage-Free

28:02 Understanding Coast FI

31:47 Understanding Coast FI

33:16 Personal Journey to Coast FI

33:41 Balancing Work and Life

35:22 Marriage Counseling and Career Shift

38:38 Transition to Financial Coaching

42:40 Generational Wealth and Giving

44:33 Teaching Kids About Money and Generosity

53:17 Family Traditions and Generosity

55:25 Final Thoughts and Reflections

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

This episode explores the intricate and confusing world of Medicare with leading expert Danielle Roberts. Danielle is founding partner at Boomer Benefits, an agency that has helped thousands of ordinary Americans learn and navigate their entry into Medicare since 2005. She's also author of the bestselling book '10 Costly Medicare Mistakes You Can't Afford to Make'. Danielle breaks through the confusion and explains Medicare's history, enrollment rules, Parts A, B, C, and D, and the differences between Medigap and Medicare Advantage plans. Discover the importance of early planning, common pitfalls to avoid, and critical decisions about Medicare coverage.

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Thank you to our sponsors:

Boomer Benefits: The nation’s leading family-owned Medicare brokers https://boomerbenefits.com/catchingup/ 

DeleteMe: Your personal data is yours again. Hands-free subscription service that removes you from data broker sites. Enter the code Catchingup at checkout to get 20% off  http://joindeleteme.com/catchingup

Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

🌐 Boomer Benefits Website: https://boomerbenefits.com 

Boomer Benefits YouTube Channel:  https://youtube.com/@boomerbenefits

Boomer Benefits Facebook Group: https://m.facebook.com/groups/BoomerBenefits/

📗 10 Costly Medicare Mistakes You Can't Afford to Make: https://amzn.to/3BLdL1b

Catching Up to FI Health Savings Account Episode Part 1, Episode 98:  https://www.youtube.com/watch?v=8vaUH8UfPTQ&t=3629s  

Catching Up to FI Health Savings Account Episode Part 2, Episode 99:  https://www.youtube.com/watch?v=36S67X4s4pc&t=8s  

🕒 Timestamps/Chapters:

00:00 Introduction to Medicare Planning

00:25 Common Medicare Mistakes

01:28 Welcome to Catching Up to FI

02:04 Shoutouts and Acknowledgements

03:31 Introducing Danielle Roberts

05:31 History and Evolution of Medicare

07:59 Medicare Eligibility and Enrollment

10:55 Understanding Medicare Parts A and B

18:40 Medicare Part D: Drug Coverage

27:24 Medigap Plans Explained

36:56 Medicare Advantage Plans

42:17 Understanding Medigap and Medicare Advantage Plans

44:00 Cost Savings with Medicare Advantage

45:21 Tips for Medicare Advantage Plan Holders

46:57 Using HSA Dollars for Medicare Premiums

50:56 Common Medicare Mistakes to Avoid

01:08:22 The Importance of Reviewing Your Coverage Annually

01:12:19 Final Thoughts and Future of Medicare

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.