Retirement Answer Man Show: Retirement Planning That's Fun

Welcome once again to another great episode of The Retirement Answer Man.  I’m Roger Whitney, your host. I have been getting a lot of questions about real estate investing and I have to admit that I am not the expert on that subject. So, what I decided to do was to reach out to someone who was. On today's episode, you are going to hear from Mark Ferguson,  a real estate investor from Colorado who has been doing this stuff for a very long time and really knows what he's talking about. So, if you've got real estate investing questions as it relates to retirement planning, this is the episode for you to listen to. How you can stop, drop, and roll for more happiness in your life. I have noticed a tendency in my own life where I get excited about the things that I want to purchase, but the moment I get it, my interest in it seems to wane. It's almost like the purchase itself decreases the urgency with which I felt I needed that item. On this week’s “Happy Segment” of the show, I'm going to suggest a three-point strategy for how you can address issues like that, and I call it “stop, drop, and roll.”  I think you'll find this very helpful. Have you ever considered “I” bonds as part of your financial portfolio? You don't hear investment advisors talking a lot about the treasury issued “I” bonds. Why don't people talk about them? I think it's because nobody is making money from them. You can only purchase them from the United States Treasury. But that doesn't mean it's a tool that is worthless. On today's episode, I am going to give you the background on what these bonds actually are, how they work, and why they might be a great tool for you to consider for certain aspects of your financial management. Real Estate Investing for the rest of us. Late night infomercials and reality TV flipping shows lead us to believe that real estate investing is one of the best ways to make a lot of money. And I get lots of questions about this aspect of investing almost every week. I decided that since I don't know a lot about the subject I would talk to someone who does. On today's episode of The Retirement Answer Man, I'm going to chat with Mark Ferguson, an expert on real estate investing who is going to give us the pros and cons of using rental properties as an investment strategy. This episode is full of great information that I know will benefit you. Be sure you take the time to listen. Why are rental properties such a great investment? Today’s guest, Mark Ferguson, is convinced that investing in rental properties as part of your financial plan is a great way to generate cash flow and profit in the long run. On this episode, I get into the details with Mark about how to purchase properties with the right margins and numbers in mind, what to consider when you think about expenses and costs to the whole arrangement, and how rental properties can serve as a casual opportunity now and a great investment for the future. Mark's expertise is so helpful to hear and learn from so I encourage you to listen in to our conversation to get an idea how you can get started in real estate investing. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:32] My welcome to you, to this episode of The Retirement Answer Man! [1:00] Introduction to today’s episode on Real Estate Investing. THE “BE HAPPY” SEGMENT [2:15] The tendency to buy instantly and never follow through on the promise behind the purchase. [5:40] The need to stop, drop, and roll. :) HOT TOPIC SEGMENT [6:37] The positive turn on the S&P 500 and the price of oil. [7:46] The political climate is beginning to calm down. [8:10] What does all of this change mean to us? [9:26] The reality that there will always be drops and corrections. WHAT DOES THAT MEAN? SEGMENT

I’m so thankful - SO THANKFUL - that you have joined me once again for The Retirement Answer Man show. I’m Roger Whitney, certified financial planner, and your host for the show. If you’re new to the show, I’m glad you dropped by and I encourage you to dig into the many resources I have available on the website for your retirement education and planning needs. On this episode, I’ll answering a listener question about paying off his mortgage when retirement is looming, what it means to approach your investments from a “market timing” perspective, and how you can be happier by preparing for future growth. All that and even more on this episode. If we’re going to be happy in retirement, we have to prepare for the inevitable losses that will come. The older I get the more I realize that things are going to change - and not always for the better. I’m already feeling that I’m losing my ability in various areas that are important to me, most notably in the endurance and strength I have when doing some biking. I’ve also been reminded lately through the experiences of some friends that people, pets, and other things are going to pass on as life continues. Have you ever considered what effect those things are going to have on you during retirement? More importantly, have you considered how you’re going to deal with them and still remain happy? On this episode of the Retirement Answer Man, I’m going to give you my approach to that issue and how I think it could help you be happy during your retirement years. It appears that the Federal Reserve has changed its mind - again! You likely remember the big news a few months back when the FED finally raised interest rates - the first increase in a very long time. At that time they also forecast how often they anticipated raising rates in the future, and it wasn’t a very happy looking forecast. Well, this past week the announcement was made that the predicted increases are actually a bit more aggressive than the powers-that-be at the FED think is wise, so they are scaling back their estimation of how frequently they’ll be increasing interest rates - and that will impact how we strategize for investing and retirement. On this episode, I’m going to give you my take on this news. Should you pay off your home with retirement funds if retirement is almost upon you? A listener will be retiring in the next 5 years - congratulations for sticking it out, by the way - and he asks me if it’s a smart thing to use some of his retirement funds to pay off his mortgage so that he won’t have that large expense to deal with once his retirement date arrives. There are good arguments on both sides of this decision, and on this episode of The Retirement Answer Man, I’m going to walk you through both scenarios and give you my thoughts on what I would do were I in his shoes. It’s time to start S-T-R-E-T-C-H-I-N-G for your better health! This show is not focused on physical health per se but is definitely aimed at helping you achieve the healthiest retirement you can, and we have to admit that a huge part of that puzzle includes the gigantic piece of physical health. On this S.M.A.R.T. sprint segment of the show, I’m giving you my suggestion that you should begin stretching every day - and tips on what it will do for you, how you can get started, and why it matters. It sounds small, but it can produce a world of benefits! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] My welcome to you, my honored guest, to this episode! [1:16] How you can make a comment or ask a question. THE “BE HAPPY” SEGMENT [3:20] How negative situations impact our ability to be happy in life. [5:00] How can we deal with the losses that will happen in life? [5:55] My approach: a growth mindset is powerfully important. HOT TOPIC SEGMENT

Welcome once again to another episode of the Retirement Answer Man podcast.  I recognize that time is your most valuable commodity, and I don't take it lightly that you are spending a significant portion of it listening to this podcast. Thank you! Thank you for the trust and confidence you are expressing in me by listening to what I have to say about retirement planning and finances. On this episode we're going to take a deep dive into the issue of diversification to help you understand how the practice is beneficial at some points in history and not so beneficial in others. The political scene is heating up. What impact does it have on the economy? It is March of 2016 and it looks like we are headed towards some certainty regarding the political candidates for this election year. If things continue to go as they seem, we're going to have some very interesting choices to make. When I'm getting too political, let me just say that the economic choices in this election are very clear-cut. Should we subscribe to the “lifting up”  philosophy of economics or the “leveling down”  view?  On this episode I'm going to give you my thoughts about both of these. You can’t play catch up in the most important areas of life. A book I've been reading recently has reminded me of a very practical and helpful truth that impacts the way we look at retirement planning and investments. The lesson is this: you can't play catch-up in the most important areas of life. This means wise planning ahead of time is the best course of action in many of the most important things we care about. On this episode I'm going to chat briefly about what that means to me, especially in the realm of retirement planning. Transparent conversations and the road to happiness. One of the reasons I do my podcast is to encourage you to think about the level of happiness in your life. Retirement planning is not just about money, it's also about having a great quality of life during those retirement years. One of the things that enables you to have a happy retirement is to have happy relationships. Transparent conversations are part of building those kinds of relationships, and in this episode I share a quick story with you about how my transparency got me into trouble, but then led to a very valuable and important conversation. Is diversification really all it’s cracked up to be? For many years the concept of diversification has been one of the founding principles upon which retirement planning and investment strategies have been built. There is a reason for that. It makes sense to have your investments spread out over many different markets and niches, that way you can endure the ups and downs of the market that may come to one particular area but not to others. But lately there have been a lot of questions about whether or not diversification is really such a great idea. On this episode we're going indepth to look at the concept of diversification, how it is connected to the various indexes, and what you should be thinking in terms of your retirement planning. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] My welcome to this episode of The Retirement Answer man [0:53] A deep look at a foundational concept this week. HOT TOPIC SEGMEN [2:24] The political scene and how it impacts the financial and economic scene. [4:19] Should we follow the “lifting up” strategy or the “leveling down” strategy? PRACTICAL PLANNING SEGMENT [5:19] The fact that you can’t play “catch up” on the most important areas of your life. [7:00] The reality of cumulative impact on these kinds of issues. THE “BE HAPPY” SEGMENT [9:33] How my transparency got me into trouble, but also brought about a good thing. [11:56] What conversations do you need to have...

Welcome to another episode of The Retirement Answer Man, with me, Roger Whitney! My goal is that you’ll walk away inspired and ready for action. On this episode, I am your guide to financial bubbles and the preservation of your long term investments. I will also pick the brain of marketing consultant and communications strategist, Mike Kim, to identify your skill set and package your passions to pivot your career. Listen in to his calculated transition from a corporate career to an entrepreneurial endeavor. We have loads of wisdom on this episode you’ll want to tune in to! Investment strategies in lieu of wacky elections. We survived Super Tuesday with wild cards on all sides of the election. The lack of clarity and uncertainty can send investment markets spiraling. What are we to do with our investment strategies? Do we rush towards predictions of where the change is headed? I want to reinforce what you have already heard: put your financial airbags in place. Today, I’m talking about the return on investment of an emergency fund and the protection it offers. I want to ensure you have the flexibility to respond and not blow up your long term investments or lifestyle. Find out how to take the minimum investment risk to position yourself to achieve your goals, on this episode. What is a financial bubble? In our lifetime there have been financial, or economic, bubbles influencing our investments and financial stability. The difficult part is of financial bubbles is they are usually defined after the fact, because they expand beyond their norm and then blow up. Think back to the technology stocks increase from the dot-com explosion, or the real estate rise and burst, or the massive lending that crashed. These are economical cycles characterised by a rise and excess that end in a burst. Are we in the midst of one? And how do you get ahead of retrospect and capitalize on a bubble? Tune in to visualize these bubbles patterns. Planting one foot to pivot. Today, I talk with Mike Kim, a marketing consultant, communications strategist, and writer, about his personal pivot from a 9-5 corporate grind to an independent career of serving small business owners in strategy and marketing. Mike offers insight to a career transition that starts with self-assessment of what value you are bringing to your current corporate job. Listen to Mike’s breakdown of his corporate job description versus what experience he actually gained from his day to day actions. A pivot is picking a pillar foot to turn the rest of your body based on where you foot is planted. How did Mike do it? And how can you? Listen in to how you can design your plan to pivot and work more independently. Strategizing your side hustle. Mike Kim has made all the mistakes so you don’t have to. Today, I ask him for a plan that we can all learn from. Mike has a “Pivot Pathway Process” to establish perimeters you can live and thrive within. Do you have a viable business plan? Do you have accountability? Listen in to get on track in projecting your progress. Take what you have learned from your day job and apply it to your hustle. If we take actions, we will get results. I love Mike’s strategy and approach to take control of your own life and find the freedom you desire. Tune in to get a taste of what you’re truly hungry for. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Roger’s introduction to this episode. THE HAPPY SEGMENT [2:08] Rogers’s perspective shift on annoyances from loved ones. HOT TOPIC SEGMENT [4:53] Top stories this week: the election [5:07] Post Super Tuesday [6:40] Taking appropriate financial measures in light of the elections. [8:48] The right amount of risk. [9:37] Slowing down spending during times of uncertainty. WHAT DOES THAT MEAN?

Welcome once again to another episode of The Retirement Answer Man with Roger Whitney...me! It’s my goal to help you prepare for your retirement in a way that equips you to be happier, healthier, and more “on purpose” during your retirement years than you ever thought possible. On this episode I’m going to walk you through a number of things that should help you down your retirement path, including a discussion of what the term “index” means, what history has to tell us about investments during election years, and 3 listener questions that hit on very practical issues when it comes to retirement planning. It’s an election year! How does that impact your investments? In light of this being a Presidential election year, some polling has been done recently to assess how people are feeling about government overall. It appears that more people than ever are in a place where they mistrust or even hate the government. There may be valid reasons for that sentiment, maybe not. But the point that I want to make in response to those polls is that none of us should allow our hatred or disdain for the government to impact our retirement strategy. It’s not a good investment plan for a lot of reasons and I’m going to tell you why on this episode. What is an “index” anyway? There are a variety of financial indexes that you hear mentioned off and on, the main one being the S&P 500 index, but what do they actually mean? On this episode I’m going to explain to you why these indexes are actually imaginary portfolios and how they are designed to help us get a general feeling for what the market is doing in light of the performance of certain companies that may be contained within that imaginary index. Confused yet? You won’t be if you listen to this section of the show. I just received an inheritance and wonder what I should do with it? A listener to the show asks the question, today, about an inheritance they received and what they should do with it. There are all kinds of options, paying off debt, investing in IRA or retirement accounts, setting aside money for that rainy day, and even more. What I suggest on this episode is that your first step should not be any of those. Instead, I advise patience. You can hear why I think patience is the greatest first step when it comes to an inheritance or some other financial windfall, on this episode. Why is it a bad idea to simply invest according to the S&P 500? Many investment advisors, including me, often point out that the S&P 500 index average is much higher than most investment portfolios out there. On today’s show, a listener asks why it is not a good idea to simply invest along the lines of what the S&P 500 index does. He knows it wouldn't be a perfect investment strategy but it would at least be 80% of the way there. I've got some thoughts about this, and share them with you on this episode, because I don't want you to fall prey to the natural weaknesses of human nature. What does that mean? You'll have to listen to find out. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Welcome to this episode! [0:56] Why I want you to sign up for Six Shot Saturday! HOT TOPIC SEGMENT [2:16] Presidential elections and how it impacts the market. [3:28] Why hating the government is not an investment strategy. [4:01] What history has to say about investments during the political cycle. WHAT DOES THAT MEAN? SEGMENT [8:44] What is an “index?” [10:29] How indexes work and why it matters to you. [12:37] How various companies within an index have varying impacts on the index. PRACTICAL PLANNING SEGMENT [15:20] QUESTION: What should I consider when I receive a windfall or inheritance? [21:29] QUESTION: Should I start increasing cash reserves now in an...

Welcome back to The Retirement Answer Man Podcast. I am your host, Roger Whitney. Some people know me as THE Retirement Answer Man and I’m here to help YOU make the most of your retirement years, not only through wise financial planning, but also through maximizing your life to be exactly what you want it to be. On this episode, I’ve got some thoughts that I think will help you simmer down the worry kettle that may be cooking inside you. I hope you take some time to listen to this episode to understand how you can remove some of the worry and stress you may be feeling. We love low gas prices, but what impact is it having on the global economy? I’m sure you’ve been to a gas station lately. The low prices at the pump are a welcome relief, to be sure. But the thing we don’t think about is that our little corner of the world is benefiting from gas prices at the expense of those who produce it. Some stats are showing that major petroleum producers have seen a 70% drop in profits recently. What impact does that have on us (besides the lower gas prices)? I’m going to fill you in on the worldwide implications of low oil prices and give you some thoughts to consider about your response to them. Have you heard the term “black swan” in financial talk lately? Isn’t it great how the powers that be in the financial industry like to come up with all these dramatic names to describe certain phenomena? The term “black swan” is one of those that you hear now and then, especially in times when world events are a bit hectic or volatile. What does it mean, and more importantly, why should you care? I’m going to fill you in, on this episode of the podcast, and I’m going to point you toward an understanding of world events that can help you feel a bit more at ease. How confident and at peace do you feel in light of what’s happening in our country and in the world right now? If you’re like most people, world events like hunger, wars, terrorism, elections, and a host of other things can get you kind of wound up inside. There appears to be every reason to be stressed, worried, and concerned about the future in light of what’s happening now. Whenever I feel that way, I find it’s very helpful for me to take a look backwards at similar times in the past. What good does that do me? You’ll find out by listening to this episode of The Retirement Answer Man, and I hope you’re helped by it. Here’s a practical SMART Sprint you can do today! Every week I bring you a short, timely, practical thing you can do to take better control over your financial future a small step at a time. I call it the SMART Sprint and today’s has to do with your retirement accounts, the amount you’re having taken out from each paycheck, and a simple way you can get ahead of the game so that come the end of the year, you’re not in a panic about contributions and deductions. Are you interested? Be sure to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Roger’s introduction to this episode. [0:50] How you can get in on “6 Shot Saturday.” HOT TOPIC SEGMENT [2:33] Announcements from the oil industry attempting to stabilize the oil markets. [4:30] The impact the oil market downturn is having on the world. WHAT DOES THAT MEAN? SEGMENT [6:55] What is a “black swan?” PRACTICAL PLANNING SEGMENT [8:48] How confident do you feel in light of what’s happening in our world and in our country? [10:55] A historical look at similar world and financial issues. [18:31] Is the U.S. in its “twilight” economically? [22:48] What is with all the global violence? THE “BE HAPPY” SEGMENT [27:03] One way to leverage yourself toward happiness this week - “Time Will Tell.” [26:34] Happiness for you is different than it is for another perso...

I am so thankful, yes THANKFUL that you have decided to take the time to join me for another episode of the Retirement Answer Man. This show is a labor of love to me and I can’t express how wonderful it is for me to know that you’re finding value in what I’m sharing. On this episode we’re going to chat a bit about the markets. Man, they’re really stinky right now. But what does that really mean? While we can’t predict the future, there IS something we can do to help us get our bearings in such terrible markets, and I’m going to share that, some listener questions, and some thoughts about being happy in retirement, on this episode of the Retirement Answer Man. Are you signed up for my “Six Shot Saturday” email list? I’ve begun a new email list that features six simple, short, actionable tips you can use right away to help you better position yourself for retirement, plan your life, and live a better life. You’ll get those every Saturday, right in your email inbox, and I’m certain they’ll be a great asset to your life. You can find out how to get on that email list (and get some special content you can’t find anywhere else) by listening to this episode. Inflation is a buzzword we hear all the time, but do you know how it impacts you? It seems that ever since the 1970s the word “inflation” has been added to everyone’s vocabulary. The first thing we think of when we hear it is increases in the price of goods we purchase. But there’s more to inflation than just that, and on this episode of the Retirement Answer Man I’m going to walk you through what you should be thinking about when it comes to the issue of inflation and how you can better address your particular situation in light of it. What do you think, is the stock market going to stay this bad all year? The 2016 stock market has started out with a very loud “THUD.” It’s terrible, the worst returns we’ve seen in years. The financial analysts and talking heads on the news channels are talking the possibilities of a bunch of doom and gloom for the rest of the year as a result. But does a bad start like this necessarily mean that we’re going to have a terrible year in the markets? On this episode I’m going to look at some historical data about situations just like this to help you get out of the emotional response and into a data driven way of thinking about it. I think this will be very helpful. What kind of person do you want to be in retirement? You know, retirement has more to do than being off work and playing on the beach or at the golf course. It’s really about quality of life and one of the main things you need to consider when you think about that is the kind of person you are. This week I noticed some older pictures on my Facebook wall and it reminded me of some of the adventurous things I’ve done in years past. It got me thinking about the future and the person I want to be when I get there. I think this edition of my happy segment will give you a bit of inspiration for your retirement years, so be sure to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] Roger’s welcome to this episode of the podcast. [0:58] Can you share the show with someone? [1:34] Sign up for the “Six Shot Saturday” email. WHAT DOES THAT MEAN? SEGMENT [3:27] What does “inflation” actually mean? [4:20] How inflation is tied to the Consumer Price Index. [6:07] The things the CPI impacts. HOT TOPIC SEGMENT [7:36] Is the stock market going to stay this stinky? [9:20] The predictions the financial media is making. [9:43] What history shows us about years like this. [10:53] Roger’s calculations compared to history. [12:52] Roger’s download you can get through the Six Shot Saturday list. PRACTICAL PLANNING SEGMENT

Welcome once again to The Retirement Answer Man show. I’m Roger Whitney, AKA the Retirement Answer Man. This episode of the show is one where I really get to live up to that name, because I’m answering two very practical listener questions covering how to figure out your “risk tolerance” in light of the different types of investment vehicles you have in your portfolio, AND whether or not it’s smart to get your money out of the financial system altogether by investing in real estate. As you can see, there’s some great stuff on this episode, so be sure you take the time to listen. What is “risk tolerance” and what’s wrong with the way we assess it? You may have heard the term “risk tolerance” before. If you’ve got any experience in the investments arena you surely have. But what does it mean? In short, it’s the amount of risk you’re willing to endure in order to potentially get greater returns on your investments. But I have to admit that I’ve got a pet peeve about this whole concept… and I’m not really sure it’s the best way to go about assessing what you should be investing in. Why? I’d love to fill you in, and I will on this episode. Should you be following the advice of those making market predictions? The very short answer is “no,” you shouldn’t. But do you know why? It’s almost every day that you hear somebody espousing another “new” way to invest that gives greater returns, do you know why it would be a mistake to follow the advice of these people? It’s because I have a quarter that has a better chance of determining the right investments for your money. Really, I do! If you’re confused, that’s OK, I’ll unpack all of that and more as I tell you why those making market predictions are not to be trusted, on this episode. Should you take money from your retirement accounts and put it into real estate investments? On this episode a listener admits that he’s very skeptical of the whole investment scene because of Madoff and other scandals. He simply doesn’t trust it anymore. Instead, he’s considering putting his money into real estate in the form of rentals. Is that a good idea? I’m not one to discourage real estate investing by any means, but I’m also not sure that taking all of his money out for that purpose is wise. And I’m not sure that skepticism is the best reason to do so, either. You can hear why I say both of those things, on this episode. Should you treat your various retirement accounts the same when it comes to risk assessment? One of my listeners today asks this great question. It’s great because it’s taking into consideration the things that should be considered. Think about it. You have varying investment vehicles that you use - IRAs, 401K, bonds, stocks, etc. Each of them has their own unique characteristics, including time frames and investment strategies. Doesn’t it make sense that you’d want to have a unique approach to your risk assessment in light of those kinds of characteristics? On this episode I’m going to walk you through the basics of how to think about those kinds of issues! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:26] Roger’s thanks and introduction to this great episode. [1:20] How you can get Roger’s “6-shot Saturday” emails. WHAT DOES THAT MEAN? SEGMENT [2:45] Today we define the term “risk tolerance.” [3:20] Questionnaires you may face when determining risk tolerance. [5:41] The problems Roger has with some of the “best practices” behind risk tolerance. HOT TOPIC SEGMENT [11:11] A confession from Roger. [12:05] Should we listen to market forecasts? Why not? [14:19] Forecasting isn’t about predicting the market, it’s about marketing the prediction. PRACTICAL PLANNING SEGMENT [17:26] QUESTION: Does it make sense for us to redirec...

Welcome back to the Retirement Answer Man… my name is Roger Whitney and I am a certified financial planner and your host of every episode of the show. This show is all about you - your retirement, your future, and your life. I want to help you think about your finances and retirement planning in a way that enables you to make wise decisions that lead to the kind of lifestyle that best fits the future you want to enjoy. On this episode, I’m going to answer some listener questions, fill you in on the impact of “negative interest rates,” and give you some thoughts from my own life about a happiness perspective that can make your life much more peaceful. Interested? Be sure to listen. Be sure you get in on my next free webinar! If you’re at the stage in life where you need to begin putting together an investment portfolio, you’re reading this at exactly the right time. Coming up in March of 2016 I’m going to be doing a free webinar that addresses how to construct and manage an investment portfolio. It’s going to be packed full of valuable information and allow for questions and answers at the end. If you’d like to be a part of that helpful webinar, I’d love to have you attend. Just listen to this episode of the show to find out how you can get signed up. Negative interest rates? Is that even a thing? Believe it or not, yes - negative interest is a real thing and we just found out about it in the real world right here at the end of January 2016. Japan’s central bank announced that it is putting a “negative interest” policy in place in an effort to prop up the country’s economy and get a recovery of sorts underway. The move allows for banks and lending institutions to actually charge depositors for putting their money on deposit with the bank. That sounds crazy, doesn’t it? Why would anyone pay to have their money in a bank? I’m going to walk you through it and tell you how it could impact you, on this episode. Did you know there’s a point where tax deferred investments are NOT the best way to go? It’s true. Depending on quite a number of variables, you may not want to put your retirement savings, or at least a portion of it, into tax deferred accounts like IRAs. It has to do with tax brackets and income levels during retirement, and it’s an important thing for you to understand so you don’t put yourself in a position where your tax deferred accounts are actually hurting you financially. Find out the details on the Q&A section of this podcast episode as I respond to listener questions about the topic. One way to increase your happiness is through trust. You don’t have to be a religious person to benefit from learning to trust. There are simply too many things in life that are difficult to comprehend and impossible to predict for us to go around trying to figure them all out. There comes a point where we simply have to trust that things are going to work out for the best. In this week’s “Be Happy” segment, I share my own trust journey with you and ask you to consider, “Where could you learn to trust in a way that benefits your journey?” OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:21] Roger’s introduction and welcome to this episode. [0:44] Thanks to all the Retirement Plan Live participants! [1:14] An upcoming webinar: Constructing and Managing an Investment Portfolio. WHAT DOES THAT MEAN? SEGMENT [2:41] What are negative interest rates? [4:40] Why would a bank charge negative interest rates? HOT TOPIC SEGMENT [6:14] Why are negative interest rates of interest to you and me? PRACTICAL PLANNING SEGMENT [9:39] 3 listener questions… [10:15] Advice for people who want to pull everything out of the stock market. [18:06] What is better financially, tax-deferred investments or something else?

Good day to you again, my friends, and welcome to this edition of The Retirement Answer Man, my name is Roger Whitney, your host! Today we are smack in the middle of our “Retirement Plan Live” event and you’re going to get to hear another conversation I had with Linda (of Linda and James) about their retirement planning. My hope is that our conversations spur you to consider your retirement planning and can help you make some adjustments that set you up for a better future and a happier life. Listen in as we tackle the issue of risk management. What IS risk management? Risk management is not a term that is only used in the investment realm, companies of all kinds try to manage their risks. But what does it really mean to engage in risk management? In this episode’s “What does that mean?” segment, I’m going to define risk management and let you in on a little secret: it’s not what many people think it is. You’ll have to listen to find out. Risk Management and Planning for Retirement. As I talk with Linda today about her retirement plan, we get into a lot of very detailed thoughts she’s been having about the investments she and her husband have made toward their “happily ever after” retirement. We talk about bonds VS bond funds, health care risks, long term care, elder care for her aging mother, college education for their kids, and a whole lot more. You’ll be impressed at how astute Linda is with this stuff, and I’m pretty sure you’re going to learn something from her questions, so be sure you give it a listen. What would happen if you could get out of “what if” thinking and into “what can I do” thinking? I’ve spent a good deal of my life worrying about things. It’s very sad, but entirely true. I had to learn (the hard way many times) that the “what if” thinking that I tend to get into only generates anxiety. There’s nothing helpful about it in most cases. The key is to turn my thinking toward, “What can I do?” thinking instead, and in today’s “Happy Segment” I want to show you how that one little adjustment can help you get out of victim mode and into action mode, which adds up to much more peace and satisfaction in life. It’s not too late (at least not today as I write this)! The final webinar of this year’s Retirement Plan Live event happens in two days from the publication of this episode, and the only way you’ll get to hear how Linda and James’ retirement plan comes together and whether or not it looks like they’ll be able to reach their ideal retirement goals, is to be a part of that webinar. You’re going to be able to ask questions of your own as well as learn from the things I advise Linda and James to do… but not if you don’t sign up. Go to www.RogerWhitney.com/RPL to sign up! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:25] Roger’s personal “Thank You” - for everything you do to encourage the show! [1:21] The introduction of today’s episode of Retirement Plan Live, and your invite to the LIVE webinar! HOT TOPIC SEGMENT [3:32] What’s going on in the markets - the S&P Index. WHAT DOES THAT MEAN? SEGMENT [8:01] What is risk management? [8:42] Why you can’t remove risk altogether. PRACTICAL PLANNING SEGMENT [13:10] Linda and James’ risk management assessment. [18:00] Bonds VS Bond Funds [25:16] Health risks. [27:56] Long term care risks. [31:14] College and education expenses. [37:03] Supporting an elderly parent. [41:21] Adjustments Linda and James have made in their investment strategy in the past. TODAY’S SMART SPRINT SEGMENT [45:48] Identify 1 risk that you feel you have in your life and go through the checklist of what you could do about it.

Hey there, welcome back to another episode of The Retirement Answer Man. I’m Roger Whitney - THE Retirement Answer Man - and in case this is the first time you’ve ever wandered over to my show, welcome! I’m so glad you’re here. You’ve jumped right into the middle of my “Retirement Plan Live” series, where I’m helping a real life couple, James and Linda, do their very own retirement plan on the podcast for everyone to hear. You’ll hear lots of interesting things to consider as well as find out how you can play along and receive your own downloads to do your own retirement planning right alongside us. Find out more on this episode. The financial markets are a bit frightening right now. The talking heads are saying that we’ve had the worst financial start to a new year since the great depression. That’s a comforting thought, isn’t it? But all kidding aside, an unstable time like this can be very unsettling on the average investor, and for all you above average folks, too! So what should you think about a time like this? More importantly, what should you do? On this episode I’m going to walk you through a few things you should consider and give you some practical steps you can consider as well. Have you ever drawn up your own “net worth” statement? In my humble opinion, your net worth statement is one of the most vital documents you can use for your financial and retirement planning. It’s a quick, year-to-year snapshot of your financial picture that enables you to quickly see if you’re getting ahead or falling behind. On this episode you’re not only going to hear me explain what a net worth statement is, but I’m also going to do a real live example of how to create one, so make sure you listen to this episode. Today’s S.M.A.R.T Sprint: Update your net worth statement. If you don’t have an updated net worth statement, today is your lucky day. On this episode I walk Linda through the variables that need to be considered in calculating a net worth statement and I also share where you can get a handy dandy worksheet to help you create your own net worth statement. The New Year is a great time to get this document created so that you can begin to use it on an annual basis to keep track of your financial health. A great tool for happiness as you move into retirement. Many people (me included) get so busy with their careers and the responsibilities of life that they forget to invest in one of the most important, long-lasting resources they could have: friendships. I’d hate to see you facing retirement all alone, without a support system of good friends in place. On this episode I tell you my brief story of how I’ve begun to surround myself with friends and build good friendships, and how it can serve to equip you for the retirement stage of life. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:32] Roger’s welcome to you and the introduction to this episode. HOT TOPIC SEGMENT [2:18] What’s going on with the markets these days? [4:20] How oil prices impact the political situation. [8:01] How the current Presidential race impacts investment planning. [9:20] Things to consider during tumultuous times like this. [14:41] What should you do? WHAT DOES THAT MEAN? SEGMENT [19:29] What is a “Net Worth” statement? [20:22] Why a “Net Worth” statement is one of the most critical documents you can have. PRACTICAL PLANNING SEGMENT [20:50] Retirement Plan Live is on! - Creating a net worth statement. [22:36] Current income for Linda and James. [25:11] Retirement income resources. [26:26] Additional income sources from work during retirement. [30:40] Current debt and terms. [32:12] Assets to consider. [37:50] Tax deferred investments and retirement plans.

It’s here! You know you’ve been waiting for it and now I’m able to bring it to you… this year’s installment of Retirement Plan Live! This is YOUR opportunity to hear me walk through a real life, honest to goodness retirement plan with a very real couple - Linda and James. Today we’re going to start dreaming big with Linda to discover all the things that the two of them desire to go into their retirement. And you can play along if you like by downloading my free resources to help you dream up your own grand retirement as well. Just listen to this episode to hear how you can get involved in Retirement Plan live! There’s a free Q & A session about retirement planning as part of this RPL event! I want the Retirement Plan Live event to be the most practical, helpful, empowering session of podcast audio you’ve ever listened to (at least when it comes to retirement planning), so I’ve packed this event with resources for your benefit and consideration. One of those is an upcoming LIVE Q & A session where you and all the other RPL participants can get on a video chat with me, Roger Whitney, to ask your retirement related questions. Nothing’s off limits, so be sure you listen to find out how you can get into that free Q & A session. Why you should stick to your plan when the markets look so bad. Well the henhouse is clucking… it’s all the financial analysts and talking heads, telling us that the first week of 2016 is the worst we’ve seen since 2008. When that sort of news comes out, everyone gets up in arms. So what should you do? How does it impact your investment strategy? On this episode I’m going to unpack what you should do, and it begins with that well-conceived plan you’ve already come up with! Be sure to stick around for that portion of the show. When missing your retirement goals are not a failure. Goals are important. They’re the things we aim at when we’re trying to accomplish those big retirement dreams we’ve come up with. But did you know that missing a retirement goal does not mean you’ve failed? On this episode of The Retirement Answer Man I’m going to tell you why goals are desires and not predictions, and when it’s entirely appropriate for you to let go of at least some of your retirement planning goals. You might be surprised at what I have to say. What goes into a good retirement plan? It all starts with a dream. It’s impossible for anyone to project every expense that’s going to come up during the retirement years. But you’ve got to start somewhere… and I’ve learned that the “somewhere” you need to start is with a dream of what you want your retirement to be like. On this episode of the Retirement Answer Man, I’m chatting with one of our Retirement Plan Live participants, Linda, about what she and her husband, James, desire their retirement to look like. It’s a great peek into what this essential first step looks like, and can help you do the same thing for yourself. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:30] Roger’s introduction of today’s episode and the topic of today’s episode. [1:20] How you can plan alongside James and Linda with free resources.   HOT TOPIC SEGMENT [2:16] The worst, first week of the year since 2008. [3:22] The need for caution. [3:40] What contributes to such a bad start? [5:40] What should WE practically do in light of these things? 3 things… WHAT DOES THAT MEAN? SEGMENT [9:37] A very fancy term: GOALS (in terms of dreaming up your retirement). [10:48] When missing a goal is NOT a failure. PRACTICAL PLANNING SEGMENT [12:15] It all starts with a dream of what you want. [13:54] Dreaming up a retirement plan with Linda and James. [15:06] The ideal date Linda and James want to retire.

Happy 2016 to all of you retirement interested folks out there, this is Roger Whitney, and in these parts I’m known as The Retirement Answer Man. I do a podcast each week to help you think about, plan for, and maximize your retirement years so that you can enjoy life, live to the fullest, and be the greatest blessing you can be to the world. I’ve got another great episode of the show today, including a short chat about the various interest rates that impact you and your monthly budget, a conversation with two friends of mine from the Stacking Benjamins website team about how you can save 50% of your income, AND the latest news on my upcoming Retirement Plan live event. Be sure to listen, there’s lots of good stuff in store. Retirement Plan Live starts next week! If you haven’t heard, you need to know: Beginning last year I created an annual “Retirement Plan Live” event that is aimed at helping you see how a professional retirement planner like me goes about helping an average Joe, like you, plan for and execute a retirement plan. It’s packed full of all kinds of insights I can’t even begin to describe here. But in addition to all that goodness, you can plan alongside us using a ton of free resources that I’m providing for this year’s event. If you’d like to sign up to “plan along” with me and my RPL participants this year, listen to this episode to get the details on how you can do that. The FED raised interest rates. So which rate are they talking about? A few weeks ago the Federal Reserve Bank raised interest rates after a very long time of not touching them. That step is all abuzz in the news lately, but I wonder, do you know what rate it is they’re talking about and how it impacts you and your money? On this episode of The Retirement Answer Man, I’m going to walk you through the 3 main rates that affect you, tell you what each of them is, how they impact each other, and what you need to be thinking about in light of this recent rate hike. Sound like something you’d like to know? Then be sure to listen. Interest rates went up… but not the ones you were hoping for. Yes, the Federal Reserve did increase the major interest rates a few weeks back, and that means you’ll be seeing higher rates when you want to buy a home, finance a car, or get a credit card. But it DOESN’T necessarily mean that you’ll see the interest rates offered for savings accounts, money markets, or CDs going up anytime soon. Why is that? In this episode of The Retirement Answer Man, I’m going to explain that little known business practice to you and fill you in on what you can expect to see happening in savings interest rates over the next few months and years. Sounds crazy, but you could save up to 50% of your income. The #1 thing most Americans surveyed said they would like to change about their financial practices is that they’d like to put more of their hard earned cash into savings. That’s no surprise, but what might surprise you is that there is actually a way that you can save as much as 50% of your income each and every month. I know it sounds crazy, but my guests on this episode of the podcast - Kathleen and Joe - from the Stacking Benjamins team are going to fill us in on how their new program, Save50, could help you do exactly that. You won’t believe what you’re hearing, and how simple it really is. Be sure to give this conversation your attention. Check it out at save50.org OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:30] Happy New Year and Happy 100th episode, from Roger! [1:10] Roger’s introduction to this episode and our guests. [1:33] Next week, Retirement Plan live begins: here’s how you can play along! WHAT DOES THAT MEAN? SEGMENT [4:15] An interest rate primer.

Welcome, welcome, welcome - to another episode of The Retirement Answer Man. My name is Roger Whitney and I am your host, companion, and guide to this episode, where we are going to navigate the farthest reaches of retirement theory and financial planning to help YOU create the retirement and future of your dreams. (Wow, that was a lot). On this episode I’ve got a bunch of good stuff for you, including the definition of a VERY important term (maximum drawdown), my take on the decision the FED made to raise interest rates, and I also get the great honor of introducing you to this year’s participants in my Retirement Plan Live event - James and Linda (not their real names). It’s packed, as you can see… so let’s get into it! What in the HECK does “maximum drawdown” mean? One of the features I’ve added to the Retirement Answer Man podcast recently is the “What Does That Mean” segment, where I explain sometimes complicated and other times boring terms that you really do NEED to know in order to plan wisely for retirement. This week, at the suggestion of a listener (Thank you, Rocky), I’m going to unpack the term “maximum drawdown.” You’ll not only hit the “stop” button at the end of this episode having learned what the term means, you’ll also know why it’s important in thinking through your retirement planning strategy when it comes to risk. Well, they finally did it. The Federal Reserve raised interest rates. It’s been an unprecedented time of low interest rates for far longer than is normal, but just recently that came to an end as the FED finally decided to raise rates. It’s bad news for home buyers but for everyone else it could actually be some very good news. Why? I’m going to tell you why. In fact, I’ve got 5 reasons for you to consider the interest rate hike a very good thing. It’s on this episode of the Retirement Answer Man, along with a lot of other goodies, so make sure you set aside the time to give it a listen. The FED finally lowered interest rates. Here are 5 reasons it’s a good thing. This year’s participants in the Retirement Plan Live event are… (drumroll, please) James and Linda! This couple has graciously agreed to lay their financial lives bare before the world as we do a few weeks of live planning sessions using their real numbers and situation. It’s an opportunity for them to get help and for you to learn a ton as I take them step by step through the things they’re looking to do towards retirement, saving for their children’s college educations, and supplementing an aging mother’s income. It’s a load of stuff and I’m eager to get into it with them. You can join us by doing your own planning right alongside… and you can get free resources to help you in the process. Give this episode of The Retirement Answer Man a listen so you can find out how to get the resources and when you can join us for the RPL sessions. Instead of a New Year’s resolution, how about a whole life challenge? Since New Year’s resolutions typically don’t stick, how about trying something different. Beginning in January I’m going to be taking part in a “whole life challenge,” a methodical way to intentionally work toward improvement in a handful of life areas. I’ve done this particular program before and found it very helpful. I’d like to invite you to join me this year as I start the program again. It’s a paid program (I’m paying, too), but I think you’ll discover that the support and accountability of doing it together will make it more than worth the cost. If you want to find out more… listen to my explanation of it near the end of this episode of The Retirement Answer Man. You can Join the team here. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] Roger’s introduction to this episode.

One hundred minus your age in equities. This is is the rule of thumb for asset allocation during retirement we've all heard. This best practice may not be best after all. Recent research, however, questions this logic. If your goal is achieving life goals, It may be better to INCREASE your equity exposure as you age. In this episode, we'll dive into this research with Michael Kitces from the Nerd's Eye View. Michael and I discuss: * The difference between achieving life goals vs. wealth maximization. * Why it may make sense to get more aggressive in your allocation as you age. * How the return sequence of your portfolio is more important than your average return during retirement. * The equity glide path. * The danger years for every retiree. Helpful Links Should Equity Exposure Decrease in Retirement? What Returns are Safe Withdraw Rate REALLY Based Upon?