Retirement Starts Today

Are you planning on enjoying an active retirement? If so, it may cost you more than you think.

On this episode of Retirement Starts Today, I interview Thatcher Taylor, the financial advisor behind ProPathFinancial.com. Thatcher and I discuss how to prepare financially and mentally for an active retirement.

• [1:42] How to navigate the balance between
• [3:18] How plan for a longer retirement
• [9:00] A phased retirement plan could help you stay active
• [11:55] Do you have a sense of purpose in retirement?
• [18:33] Check out Thatcher's YouTube channel

• Dr.Peter Attia

• Thatcher Taylor on YouTube
• ProPathFinancial.com
• @DadBodFinancial on Instagram

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If you are looking to ease into retirement by transitioning into a part-time role first, you won't want to miss this episode of Retirement Starts Today. In the retirement headlines segment, we'll explore an article by Anne Tergesen at the Wall Street Journal which outlines topics to consider when phasing out your retirement before retiring fully.

Make sure to stick around for the listener questions segment to hear a question from Scott about how to evaluate COLA options on a pension. Press play to start planning your amazing retirement.

• [1:32] Talk to your employer about how to work fewer hours
• [3:12] Plan your income
• [6:34] Social Security considerations
• [11:51] To take the COLA or non-COLA option on a pension

• WSJ article - How to Plan for Part-Time Retirement

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If you have received an inherited IRA or think you will in the future you won't want to miss this episode. In the retirement headlines segment, we'll take a look at the proposed changes in regulations regarding inherited RMDs based on the Secure Act of 2020.

In the listener questions segment, we'll hear from Jim who has a question about rebalancing retirement income buckets. Make sure to stick around until the end so that you understand the best way to manage your buckets in retirement.

• [1:32] The IRS interpretation isn't what we thought it would be
• [7:36] An example to illustrate an inheritance scenario
• [10:45] What can we learn from this new rule?
• [14:25] Should you have 5 years of income or 25% of your portfolio value in bucket #1?
• [17:18] Should you rebalance when stocks and bonds are down?
• [18:56] Do Vanguard total bond funds qualify for bucket #1 or #2?
• [22:03] Should you maintain a small list of funds in a portfolio?

• Episode 239 - Part-Time Retirement Programs Are on the Rise
• Investment News article by Ed Slott

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How much thought have you given to your future self? This week's retirement headline explores the concept of nurturing your future self now so that you can increase your health, happiness, and financial security.

Over in our listener questions segment, I'll answer a question from an anonymous listener about increasing their spending in retirement. They are looking for advice on whether they can afford to substantially increase their spending this year. Listen in to hear the Retirement Starts Today version of Suze Orman's "Can I Afford It."

• [1:58] Thinking about your future self can help you build a happier life
• [7:52] Who is your future self 10 years after retirement?
• [11:00] Should this listener spend the money that he didn't spend in the past 3 years?

• How Thinking About 'Future You' Can Build a Happier Life
• Dr. Benjamin Hardy's 30 Day Future Self Course
• BOOK - Be Your Future Self Now by Dr. Benjamin Hardy

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If you are heading into retirement you probably have a bucket list that you want to work on. While just about everyone has heard of a bucket list, not many are familiar with the concept of reverse bucket lists.

On this episode of Retirement Starts Today, we'll explore this concept by referring to an article from Jeff Stein at Inc.com. You'll learn how a reverse bucket list could help you manage your wants versus your needs.

Stick around for the listener questions segment to hear which assets to look at when doing a Roth conversion. You'll also hear a question from Paul about the logistics of retirement withdrawals.

• [1:42] Using reverse bucket lists to prioritize
• [5:20] What assets to use at when looking at Roth conversions
• [9:48] The logistics of retirement withdrawals
• [12:48] Make sure the money comes out of the right accounts

• Inc.com article
• Podcast - Optimism with Simon Sinek and Arthur Brooks
• An online risk tolerance questionnaire

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Do you wish you could have more freedom at work yet still earn a paycheck? Remote work and flexible scheduling may help you ease into retirement rather than plunging in all at once.

In our retirement headline segment today, we'll explore an article from the Wall Street Journal that discusses a new phenomenon that is a direct result of the Covid-19 pandemic.

Additionally, I'll answer Frank's question about using the bucket time segmentation strategy in retirement. Listen in to hear details about what those buckets might look like and how to time withdrawals from each bucket.

• [1:32] How should the increase in mortgage interest rates change your retirement plans?
• [3:21] Part-time retirement programs are on the rise
• [7:40] Obstacles to phased retirements
• [8:25] My thoughts on phased retirement
• [9:54] How to determine when your long-term retirement savings bucket is up or down

• WSJ article - Part-Time Retirement Programs Are on the Rise
• Episode 238 - I'm Retiring in 3 Weeks! Here's What to Do…

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When people begin retirement planning they usually have 3 main questions. We cover the questions about what to do about healthcare before Medicare and should I pay off my house regularly on this show. However, the third question, what do I do if I still have kids at home, is not one we regularly address. That is why I'm excited to have Bobbi Rebell, author of the new book, Launching Financial Grown Ups on the show today.

Bobbi is here to discuss the growing phenomenon of adult kids living with their parents and how that can impact your retirement plan. You won't want to miss this episode if your kids are not completely launched. Listen in to hear Bobbi's fantastic advice for creating an exit strategy to get your children off the payroll.

• [1:22] What to do if we have kids at home when facing retirement?
• [7:20] What can we do to prepare our kids for an exit strategy?
• [10:53] How to deal with our children's financial mistakes
• [19:07] Don't rob kids of the ability to think things through

• Lemonade Insurance
• BOOK - Think Like a Bread Winner by Jennifer Barrett

• BobbiRebell.com
• BOOK - Launching Financial Grown-Ups by Bobbi Rebell
• Check out GrownUpGear.com for some Grown-Up merch
• @BobbiRebell on Twitter
• @BobbiRebell1 on Instagram

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Have you been hesitant to retire this year because of all that is going on in the world? On this episode of Retirement Starts Today, we'll explore a retirement headline from Maurie Backman at The Motley Fool called 3 Reasons Why 2022 May Be a Bad Year to Retire, but then you'll hear my rebuttal to each of her 3 arguments.

If you have been on the fence about whether you should take the plunge and retire now, you won't want to miss this episode. Make sure to stick around until the end of the episode to hear an anonymous question about how to be certain that you won't owe interest and penalties on a Roth conversion.

• [2:11] Pitfall #1 - The pandemic is still raging
• [5:00] Pitfall #2 - Inflation is rampant
• [8:15] Pitfall #3 - Stability is important
• [12:23] An underpayment penalty question

• The Motley Fool - 3 Reasons Why 2022 May Be a Bad Year to Retire
• Taxes in Retirement Facebook group
• Underpayment of Estimated Tax on the IRS website
• Estimated Taxes on TurboTax's website

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With the news that January's inflation rate was a staggering 7.5%--the highest level in 40 years–everyone has inflation on their minds lately. Many retirees are reassessing how they can protect their nest eggs.

On this episode of Retirement Starts Today, we'll explore a WSJ headline, "There's No Perfect Way to Inflation-Proof Your Investments," by Anne Tergesen. If you have been wondering how you can best use your investments to hedge against inflation in retirement, don't miss out on this episode to hear the pros and cons of several different options. Make sure to listen to the end to hear how long you might have to hold on to gold so that it keeps pace with inflation. (Spoiler alert–it's a lot longer than you think!)

• [1:22] Inflation is on the mind of every retiree in 2022
• [3:57] I bonds are the belle of the ball
• [6:14] The pros and cons of TIPS
• [7:23] The pros and cons of stocks, commodities, and real estate
• [10:06] The pros and cons of buying gold
• [11:29] How to pay taxes on Roth conversions

• WSJ article - There's No Perfect Way to Inflation-Proof Your Investments
• Taxes in Retirement Facebook Group

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Many people begin retirement with the question: what's next? That question can plant the idea of starting a second chapter whether it be a new business, a side hustle, a passion project, or a consulting business. The question then becomes, how to get started?

Gabe Nelson, the host of the Solopreneur Money podcast, is here to discuss how you can start a business in retirement. In this episode, you'll learn tips on how to get started, how to decide what to charge, how long it should take to become profitable, and so much more.

• [1:58] What are some tips for someone that wants to start a business in retirement?
• [5:28] How to keep track of expenses
• [7:00] At what point does the business have to become profitable?
• [11:30] How to move from employee to employer
• [14:00] The kinds of clients that Gabe works with
• [16:42] Gabe never plans on retiring

• QuickBooks

• SolopreneurMoney.com
• BOOK - The Solopreneur's Money Manifesto by Gabe Nelson

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