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 adviso ..read more

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 LI ..read more

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 ..read more

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 waitin ..read more

For the past ten years, we have been exploring how to do retirement right so that you can get down to the business of living a great life.  This is why this month we have had a series of special guests. Today’s guest is behavioral investment expert and author Dan Crosby. Together we explore why it is so hard to overcome your money mindset and how you can learn to let go to enjoy the money you have worked so long and hard to save. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT WITH DAN CROSBY [3:38] Overcoming frugality [10:56] How to gain confidence in th ..read more

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 p ..read more

This month we celebrate the Retirement Answer Man’s 10th anniversary milestone with several guests throughout the month.  Today we welcome Professor Rick Nason, author of It’s Not Complicated, to discuss complicated vs complex thinking. If that discussion didn’t Stick around for the listener questions with Tanya Nichols and Bring It On with Dr. Bobby Dubois OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN COMPLICATED VS COMPLEX THINKING WITH PROFESSOR RICK NASON [4:20] Defining simple, complicated, and complex [9:11] Why it is important to identify whether you’re dealing with complic ..read more

Those who have FIREd like Keven Sebesta are choosing to rock life each day. In this final episode on the FIRE movement, we’ll explore what we can learn from them. Join Kevin and me to discover how you can do what FIRE is doing right. What can you learn from FIRE? Traditional retirement planning is all about achieving the end goal. Climbing the mountain and reaching the summit. However, FIRE embraces life today. Those in the FIRE movement see life as an endless journey to explore.  Don’t wait to explore your passions and interests. Do them now. If that isn’t possible, examine how your life ..read more

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 r ..read more

How do you manage a joint cash flow with separate assets? In addition to discussing Mark and Mary’s situation, today I chat with Kay about how she and her husband handled finances with their late in life marriage. Kay gives us some insight on how to manage finances in a financially unbalanced relationship. You’ll appreciate her perspective on how to manage the household cash flow when you haven’t always been married. Make sure to stick around to hear an update from Sam, our single Retirement Plan Live case study from 2018. She’ll let us know how she’s been doing, what has surprised her about r ..read more