RetirementRevised

This week on the podcast, let’s talk about the value of time.

Time has value to us - both in personal and economic terms. It’s something we often fail to consider when making decisions about how long to work and when to retire. These decisions often focus only on the financial aspects of retirement planning. But as we get older, time becomes a more limited commodity - it’s just that we don’t know exactly how much of it we have left. And, deciding how to use the time available to us involves much more than money.

My guest on the podcast this week has had hundreds of conversations with people nearing the end of their lives. They often talk about the things they wish they had spent more time on, and what they wish they had worried about less. 

Jordan Grumet has an unusual career profile. He’s a physician who specializes in hospice care. And, he is a personal finance blogger and host of the Earn & Invest podcast - and the author of a new book, Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life.

In his medical practice, Jordan often talks with patients who may have only weeks or months to live. And the lesson he draws from these conversations is that most of us spend too much time thinking about money, and not about our purpose in living, our identity and personal connections. In his book, Jordan draws out the lessons from those conversations in a way that we can all start using now. 

I think there are some really useful points here that can be especially helpful for people thinking through the issue of retirement timing - when to do it, how to manage it financially and how to do it in a way that is personally meaningful.

Click the player icon at the top of the newsletter to listen to my conversation with Jordan Grumet.

How Medicare reforms could help retirees facing high inflation

Seniors tell pollsters that high inflation is one of their top worries - and that makes sense. Aside from Social Security, which is adjusted annually to reflect consumer prices, retiree income is fixed. 

Policymakers have talked over the years about making the Social Security cost-of-living formula more generous, but that would just be a tweak. If we really want to help seniors cope with inflation, we need to tackle the rising cost of health care, which historically has increased more quickly than general inflation.

Congress is considering an important step in this direction with a proposal aimed at containing prescription drug prices. The proposed legislation would empower Medicare for the first time to negotiate the price of some high-cost drugs with their manufacturers. That approach has been in place for a long time in the Medicaid program, and at the Department of Veterans Affairs, and it has proven effective.

Just as important, the bill would place a hard cap of $2,000 on out-of-pocket costs for Part D enrollees. And it would require pharmaceutical makers to pay rebates if drug price increases exceed general inflation.

But we need to do more. I offer some further suggestions in my latest Reuters Money column.

What I’m reading

How being an older worker pushed me out of my comfort zone . . . Multi-generational housing arrangements are taking root . . . Social Security data show pandemic’s toll — and a path forward . . . A neurologist’s tips to protect your memory . . . Endemic COVID-19 looks pretty brutal . . . Promoting climate change activism among older people.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

My guest on the podcast this week is Kerry Hannon, an expert on the future of work and careers. Kerry is a columnist for Yahoo! Finance - and the author of an excellent and timely new book that considers ways that older workers can succeed in the pandemic labor market. It’s called In Control At 50 - How to Succeed in the New World of Work.

If you are struggling to determine your late-career moves in the pandemic labor market, Kerry’s book is for you. In this conversation, we focused on the five key themes of In Control at 50+:

* Remote work is no longer a perk

* Contract positions are swelling

* Midlife entrepreneurship is increasingly viable

* Older workers are making “dream” career changes

* Lifelong learning remains valuable

Click the player icon at the top of the newsletter to listen to my conversation with Kerry Hannon.

The financial health of Medicare and Social Security: A closer look

Forecasting the financial health of Social Security and Medicare brings to mind that old saying: “It’s tough to make predictions, especially about the future.”

The quip usually is attributed to baseball legend Yogi Berra, although it actually seems to originate with a Danish politician circa 1948. No matter the source, it’s a suitable comment when considering forecasts about our two most important retirement programs.

Two years ago, plenty of pundits were warning that the pandemic-induced economic plunge would blow huge holes in these critical social insurance programs. But reports issued this month by the Medicare and Social Security trustees show that the strong economic rebound last year contributed to slight improvements in their health.

More people were working and paying Federal Insurance Contributions Act, (FICA) taxes last year. As a result, Social Security’s trustees forecast that the combined retirement and disability trust funds will be depleted in 2035—one year later than last year’s forecast. The Medicare trustees report that the Hospital Insurance trust fund will be emptied in 2028—two years later than forecast last year.

Still, both of those dates are too close for comfort—and long-term problems loom for both trust funds.

Learn more in my Morningstar column.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Tax day is coming up, so this episode of the podcast focuses on how taxation changes when you retire. I wrote about this topic recently for The New York Times, and one of my sources for that story joins me this week - Ed Slott.

Ed is a CPA and a very well-known author and host of educational seminars on public television.

Ed likes to say that taxes don’t stop in retirement - they’re really just getting started. I’d say he’s right about that insofar as higher income retirees go - you’ll be paying taxes on part of your Social Security, and probably surcharges on Medicare premiums. Those aren’t technically taxes, but they sure feel like it when you’re paying them. Drawdowns from tax-deferred IRAs and 401ks are taxed as ordinary income…and possibly at high rates.

In the Times story, I reported on a study using IRS data that shows the tax burden for the majority of households actually falls in retirement. That means most middle and lower-income households. One reason taxes fall is that you’re not making payroll tax contributions. But income taxes tend to fall because total income is lower, and only part of Social Security is taxable.

I asked Ed to walk us through how taxes change in retirement. We also talked about the latest retirement legislation making its way through Congress - the Secure Act 2.0. This is legislation that has some implications for taxes in retirement, since it revises the rules for required minimum distributions and the way that Roth contributions can be made within a workplace retirement plan.

Click the player icon above to listen to the podcast. The program also can be found on Apple Podcasts and Stitcher.

Medicare now covers over-the-counter COVID-19 tests

Medicare is now providing up to eight free COVID-19 rapid tests for free. If you’re enrolled in Medicare Part B, just bring your Medicare card to a participating local pharmacy; tell the pharmacist you’re there for your free tests. It takes a minute to run through the paperwork, but it’s worth the wait. You can find more details on the Medicare website.

What I’m reading

Many of us want to age at home, but that option is fading fast . . . Inside a campaign to get Medicare to reverse course on a controversial new Alzheimer’s drug . . . How to tell if your financial adviser is overcharging you . . . How declining immigration hurts the nursing home labor force.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

A couple weeks ago, this newsletter featured a PBS NewsHour story on the Great Retirement - the impact that early retirement forced by the pandemic has had on millions of older workers.

The story caught the eye of my friend Marc Miller - yes, you got that right, Marc Miller, although he spells his name with a C, not a K. Marc is a career coach who specializes in advising older workers, and he works with clients often who are struggling with unexpected job loss late in their careers. Since this is a topic I write about frequently, Marc invited me to join him on his podcast for a discussion.

I’m posting the resulting conversation today. Among the questions and issues we discussed:

* Will older people who left the workforce early due to COVID-19 want to return after the pandemic? And, will they be able to do that?

* What are the economic risks of premature retirement?

* What the risks in relying on the recent booming stock market to fund extra years of retirement?

If you’re dealing with these issues, check out Marc’s work at Career Pivot. He moderates a very interesting online forum there for older workers, and you can find all of his podcasts and other online resources.

Click the player icon at the top of this post to listen to our conversation. The podcast also can be found on Apple Podcasts and Stitcher.

What I’m reading

A two-year experiment in changing how we work . . . Her husband wanted to die, and she heard his wishes . . . The Labor Department wants to investigate crypto in retirement plans . . . As President Biden proposed, Medicare needs the ability to negotiate drug prices . . . More employers are moving retirees to Medicare Advantage as they seek to reduce costs . . . New IRS rules on inherited IRAs force paster payouts . . . Generation X volunteers want to help you, and one day themselves, age at home . . . Meet the underdog of senior care . . . Corporate employers show a bit more interest in phased retirement programs.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

On this edition of the podcast, we’re going to talk about Medigap - one of the most important types of Medicare insurance, and perhaps one of the least understood.

For people enrolled in traditional Medicare, Medigap is used to cover out-of-pocket costs, and caps your total out-of-pocket liability.

Traditional Medicare offers much more flexibility in how you access care when compared with Medicare Advantage plans, which typically use managed-care provider networks. However, Advantage plans come with a built-in cap on out-of-pocket costs--a feature that you won’t find in traditional Medicare.

Some traditional Medicare enrollees receive supplemental gap insurance as a retirement benefit from their former employers to cover some of those out-of-pocket costs. And low-income seniors get help from Medicaid. But for everyone else, it's important to understand the ins and outs of Medigap--when to buy it, the plan options, and how to go about selecting a plan.

I spoke recently about Medigap plans with Bethany Cissell. Bethany is an expert on Medigap at Allsup, a company that provides fee-based assistance with Medicare plan selections. Fee-based help is one way you can get guidance on Medicare plan selections of all types. The most common choice is your State Health Insurance Assistance Program, or SHIP. These are free counseling services that you’ll find in every state, and I’ll provide a link alongside the podcast that can help you find yours.

I spoke with Bethany about the choice between traditional Medicare with a Medigap, versus Medicare Advantage. We also discussed all those notorious Medigap letter options you can choose, and how plans are priced.

Click on the player icon at the top of this post to listen to the interview. The podcast also can be found on Apple Podcasts and Stitcher.

More Medigap resources

How to evaluate Medigap coverage - my latest column for Morningstar.com.

Overview of Medigap plan options- a table created by the Medicare Rights Center.

Financial advisors step it up on Social Security tech

Financial advisors have long understood the importance of Social Security in their clients’ retirement plans. Now, an increasing number are using sophisticated strategies for optimizing those benefits and turning to software for help.

The trend is evident in the substantial increase in market penetration of Social Security optimization software, which jumped to 45% of advisors last year, up from 17% in 2020, according to the T3/Inside Information Advisory Software Survey. Some of that growth reflects Social Security features bundled into mainstream financial planning software, but use of stand-alone solutions is growing as well.

Learn more in my latest column for WealthManagement.com.

What I’m reading

Senior communities add tech assistance as a perk . . . The system still fails small 401(k) plans . . . Young women are saving for retirement sooner than previous generations.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Last week, Medicare announced the next phase of its plan to transform traditional Medicare. Critics argue that the planned transformation of the fee-for-service program will amount to a dramatic expansion of privatization.

And, if you are enrolled in traditional Medicare, or expect that you will be in the future know this: no matter if you want it or not, Medicare plans to enroll you in this new model by the end of this decade, as early as next year in some cases.

Millions of retirees have opted out of traditional Medicare over the past two decades. Instead, they have joined Medicare Advantage, which is a privatized, managed-care version of the program. But the choice between those two options might not be in their hands much longer.

Medicare has been quietly testing a new model for traditional fee-for-service Medicare. Medicare enters into contracts with healthcare provider groups that receive a flat annual payment to provide care for enrollees in the traditional program.

Up until this point, Medicare called the health care contractors involved in this experiment “Direct Contracting Entities,” but starting next year they will be known as Accountable Care Organizations, or ACOs.

The concept of ACOs is not new - many health care experts say they have the potential to improve health care by incenting healthcare providers to work together as teams. But this particular version of ACOs is drawing criticism from some health policy experts, who view it as unwarranted - and unwise - further privatization of Medicare.

The new model launching next year is called ACO REACH. The word REACH is an acronym, standing for Realizing Equity, Access, and Community Health. Medicare is pitching the program as a way to advance health equity for underserved communities. And that’s a very laudable goal. But ACO Reach providers actually will have much in common with Medicare Advantage, Like Advantage plans - which usually are HMOs or PPO plans - ACO Reach plans will create networks of preferred healthcare providers, and they can retain as profit the portion of the annual per-patient payments that are not spent on healthcare.

A big worry here is the rush of private equity firms and other investment groups into the business, which points to even more privatization of Medicare than we’ve seen already. 

And here’s something important to know if you are enrolled in traditional Medicare, or expect that you will be in the future. Medicare plans to enroll everyone who uses traditional Medicare in an ACO by 2030. And starting next year, if you live in an area where a REACH ACO operates, you can be assigned to one without your consent.

This week on the podcast: Joining me on the program this week to talk about the REACH ACO model is Dr. Ed Weisbart. Ed is a family medicine practitioner. And he chairs the Missouri chapter of Physicians for a National Health Program, a national group of 21,000 physicians and other health professionals who support single-payer national health insurance. PNHP has taken a leading role in opposing Medicare’s ACO plans.

I’ve been really surprised that this topic hasn’t surfaced much in general media yet, considering its importance to millions of seniors. After Medicare announced its plans for ACOs last week, it seemed like a good idea to turn up the volume a bit. 

Click the player icon at the top of this post to listen to the podcast. The podcast also can be found on Apple Podcasts and Stitcher.

Further reading on Medicare ACOs

A quiet experiment is testing further privatization of Medicare

Medicare Advantage, Direct Contracting, And The Medicare ‘Money Machine,’ Part 1: The Risk-Score Game.

Medicare Advantage, Direct Contracting, And The Medicare ‘Money Machine,’ Part 2: Building On The ACO Model

Biden Pursues Trump Plan That Creates Big Profits by Denying Health Care

Trump-era Medicare program under increased scrutiny

Physicians for a National Health Program - page of resources on ACO Reach.

What I’m reading

IRS releases long-awaited Secure Act RMD regulations . . . Medicare’s finances and the saga of the Alzheimer’s drug Aduhelm . . . The pandemic pummeled long-term care – it may not recover quickly.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

If you’re wondering whatever happened to my podcast - wonder no more.

I put the program on hold last spring while I worked on the manuscript for my new book about retirement, which will be published in January 2022. I finished up the book just before Thanksgiving, - and this week the program is back. You can expect new episodes every so often this year.

Let’s kick it off with a conversation about career reinvention and retirement. My guest is Beverly Jones, author of the new book, Find Your Happy at Work: 50 Ways to Get Unstuck, Move Past Boredom and Discover Fulfillment.

Bev is an author, speaker, podcaster and career coach. She’s a master of career reinvention herself - she started out working in television in radio, and went on to earn and MBA and a law degree. You can catch her program, Jazzed About Work, wherever you get your podcasts.

Bev’s book explores ways to find meaning in your work. That’s a theme I’ve written about often, because I think it’s so important as a component of a successful retirement plan. The research tells us that many people wind up retiring earlier than they expected, either due to a job loss or health problem - but sometimes it’s just plain burnout.

I asked Bev to connect the dots between her findings about happiness on the job - and in retirement. Click the player icon above to listen to our conversation; you also can find it on Apple Podcasts and Stitcher.

Note: The show had been available on Spotify, but the Joe Rogan controversy prompted me to rethink that. Pulling my little podcast won’t matter even a bit to Spotify, but I’ll sleep better. By the way, anyone looking for a new streaming platform should consider Tidal’s Hi-Fi service. Your ears will thank you.

What I’m reading

43% of Americans over age 65 have not received a vaccine booster, far less than other developed countries . . . The 4% drawdown rule might not work . . . Use the Social Security mailing list to promote vaccines . . . Old age and creativity.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

My guest on the podcast this week is a prominent exponent of a simple, straightforward approach to investing that emphasizes balance, diversification, discipline, low-costs, and a long-term orientation. 

No surprise there - Jack Brennan is a former chief executive and board chair at Vanguard, which has come to dominate the world of consumer investing with its emphasis on those principals. Brennan remains involved at the company as chairman emeritus, and he is the author of a terrific new book, More Straight Talk on Investing.

Jack’s book offers excellent advice for investors of all ages, but I quizzed him about parts of the book most relevant to people nearing retirement or already retired. We discussed asset allocation, how to stay on track when things get rough, and why he believes strongly that retirees should have professional financial advice.

Listen to the podcast by clicking the player icon at the top of the newsletter. The podcast also can be found on Apple Podcasts, Spotify and Stitcher.

Guest post: Putting your investments in their place

This week I'm featuring a guest post on asset location from Bob French, CFA, the director of investment analysis at Retirement Researcher and McLean Asset Management. Bob will be holding a webinar covering the portfolio management process on Tuesday May 4th, and Wednesday May 5th. He'll be showing you how to keep your portfolio doing what you want it to do. You can sign up here.

Most people are leaving money on the table. For all the different ways that we try to optimize our investments, most people ignore their asset location – because they simply don’t know that it’s something they should be thinking about. But asset location is essentially free money just for being organized. Vanguard’s 2019 Advisor Alpha study found that asset location can add up to three quarters of a percent per year – again, just for being organized.

Asset location is about choosing which account you put your investments in to make the most out of the tax treatment of your different accounts. There are three different types of accounts: taxable, tax deferred, and tax exempt. We can use the differences in how they’re taxed to maximize our after tax returns.

Taxable accounts are things like your brokerage account, where you owe taxes on everything that happens in that year. Tax deferred accounts are your traditional IRAs and 401(k)s. These accounts don’t have the ongoing tax drag of a taxable account, but when you pull money out, you owe ordinary income taxes on that money. Tax exempt accounts, like your Roth IRA and 401(k) are, well, tax exempt. You don’t pay any ongoing taxes, and you don’t owe anything when you take your money out.

Your asset location should not drive your asset allocation. Your asset allocation is a strategic decision about how much risk (and return) you want to take. Your asset location is simply a tactical decision about how to implement your portfolio.

It’s also important to recognize that the benefits of asset location are dependent on the structure of your portfolio. If all of your money is in your traditional 401(k), there’s not much to do here – your money is where it is.

In practice, there are two general guidelines for your asset location. The first is that you want your tax inefficient investments – the ones that kick off a lot of distributions – in your tax deferred or tax exempt accounts. Those distributions would be a serious tax drag in your taxable account. The second is that you want your highest growth assets in your tax exempt account. You can think of the IRS as a silent partner in your taxable and tax deferred accounts, so they get some of the gains in those accounts. By keeping your highest return assets in your tax exempt accounts, you get to keep all of those gains.

The biggest upshot of implementing your asset location strategy is that you should try and get your bonds (especially TIPS – they have some nasty tax issues) into your tax deferred accounts, and then work from there.

If you want to find out more about asset location, or the other things you should be considering as you maintain your portfolio, sign up from my upcoming webinar, Managing Your Portfolio: the 6 Step Process to Maintaining the Portfolio You Designed on Tuesday May 4th, and Wednesday May 5th. You can register using this link.

Webinar: Tips for succeeding in the new world of work

“Businesses are planning for a future of less business travel, more automation and more people working from home," says a recent article in theWashington Post. What do changes like these mean for people over 50? According to Kerry Hannon and Marci Alboher, two of the nation's foremost authorities on opportunities for older workers, there are steps we can take to make this market work for us. In her upcoming book, Kerry says that people over 50 can "take control of their professional and economic future with hope, confidence and optimism."

In a May 20th fireside chat sponsored by the Encore Boston Network, Kerry and Marci will offer trends, tips and tactics about freelance and remote jobs, job search advice, self-employment and entrepreneurship and finding work you love. They will also discuss how to find your place in the increasingly diverse and multi-generational workforce and the role that mentoring plays in this next stage of encore work.

There’s a small fee to attend ($20 for non-members).

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You’re subscribed to occasional, short posts sent to my free list. Sign up for the paid edition to receive my weekly in-depth report, plus online access to my series of retirement guides.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Covid-19 had taken the lives of 182,000 people in nursing homes, assisted living and other long-term care facilities . . . one-third of the national total. The troubles have intensified a spotlight on long-running questions about how communities can do a better job supporting people who need care but want to live outside an institutional setting. That question generates a big list of challenges for communities, health care systems and policymakers.

I wrote about this topic in a story for the New York Times several weeks ago, and I’ve been following it up with a series of conversations on the podcast.

My guest this week is Peter Fitzgerald. Peter is executive vice president for policy and strategy at the National PACE Association. PACE stands for Programs of All-Inclusive Care for the Elderly. This is a unique, innovative program that recipes its funding from both Medicaid and Medicare. 

PACE provides medical and social services that allow frail seniors to live independently. It serves about 55,000 people in 30 states around the country. Most are low income and eligible for both Medicare and Medicaid. PACE is available only in states that decide to offer it. But the program is poised for a possible dramatic expansion.

The American Rescue Act, passed by Congress in March, raises the federal share of states’ spending on home and community-based services by $12.7 billion over the coming year, and PACE is among the eligible programs. More recently, Senator Casey (D-PA) introduced legislation that aims specifically to expand PACE.

And the Biden administration’s proposed infrastructure plan includes a $400 billion expansion in Medicaid funding for home-based care. Some of that money could find its way to PACE programs. That would allow it to expand . . . not only in terms of the number of seniors served, but also beyond the primarily low-income population PACE serves now.

I asked Peter to explain how PACE works, and why it often is a superior option to institutional care. We also talked about the prospects for expansion.

If you’re interested in finding a PACE program where you live, check out the association’s online guide to programs around the country.

Listen to the podcast by clicking the player icon at the top of the newsletter. The podcast also can be found on Apple Podcasts, Spotify and Stitcher.

Medicare Out-of-Pocket Costs: How Do Enrollees Get Protection?

Medicare smooths out much of the variation in the healthcare expenses that seniors incur -- but out-of-pocket costs can be high if you’re not careful.

Most Medicare enrollees blunt out-of-pocket risk one way or another. According to new research by the Kaiser Family Foundation, 39% were enrolled in Medicare Advantage plans in 2018; these managed-care commercial alternatives to Original Medicare have built-in caps on out-of-pocket outlays. The rest are enrolled in traditional Medicare, which does not have a built-in out-of-pocket cap. Most of these enrollees get out-of-pocket protection from Medigap, retiree coverage or Medicaid.

But 10% of Medicare enrollees have no protection from this risk. They’re in traditional Medicare but have no supplemental coverage.

That is a worrisome finding. This year, an Original Medicare beneficiary without supplemental coverage is subject to a deductible of $1,484 for an inpatient hospitalization plus daily copayments for extended hospital and skilled nursing facility stays. There’s also a separate deductible of $203 plus 20% coinsurance for most physician and other outpatient services, including for drugs administered by physicians for cancer and other serious medical conditions.

Advantage plans, meanwhile, are required by law to cap annual out-of-pocket expenses: In 2020, the average cap was $4,925 for in-network services, according to Kaiser, while the cap for out-of-network services is much higher, at $8,828. In Original Medicare, the average out of pocket spending among traditional Medicare beneficiaries in 2018 was $6,150, according to unpublished Kaiser data. That figure includes premiums and out-of-pocket outlays for uncovered services (such as dental, vision, and hearing care).

Here’s a summary I put together summarizing Medicare’s out-of-pocket structure. As you can see, it’s quite a patchwork:

I explore the implications of this patchwork of out-of-pocket protections in my latest Morningstar column.

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You’re subscribed to occasional, short posts sent to my free list. Sign up for the paid edition to receive my weekly in-depth report, plus online access to my series of retirement guides.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

This week on the podcast we take a look at the prospect of higher inflation, and how retirees would be impacted.

In March, the consumer price index recorded its largest 12-month increase since the summer of 2018, rising at a 2.6 percent annual pace. Some analysts think we might be entering a period of sustained higher inflation after many years when consumer prices stayed very steady. It’s not at all clear yet that this actually will happen. But if it does, that would mark a real change for retirees, who live on fixed incomes. Higher inflation would threaten to erode their standard of living.

My guest is Christine Benz, director of personal finance at Morningstar. Christine has posted two excellent articles on inflation and retirement in the past couple weeks. One focuses on implications for your portfolio withdrawal rate in the event of higher inflation; the other discusses inflation-fighting investment strategies.

I asked Christine to explain why concern about inflation is rising. We also discussed the major risks inflation poses for retirees, and some strategies that retirees can use to protect themselves from inflation risk.

Listen to the podcast by clicking the player icon at the top of the newsletter. The podcast also can be found on Apple Podcasts, Spotify and Stitcher.

Subscribe to the newsletter

You’re subscribed to occasional, short posts sent to my free list. Sign up for the paid edition to receive my weekly in-depth report, plus online access to my series of retirement guides.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com