Retirement Answer Man

What can we control in life? How can we identify factors beyond our control? The trouble with retirement planning is that so much of it relies on factors beyond our control. Join me today as I discuss the impending force of a market correction and answer some listener questions from our Retirement Plan Live Webinar. We must learn to accept that there are things beyond our control. Once we do that...

This may surprise you, but there are youngins out there that we can learn from! My guest today is only 34 years old, but he knows quite a bit about retirement. Deacon Hayes is the author of a new book called You Can Retire Early and he has a fantastic website full of resources that can help you start planning your early retirement. Don’t let his age fool you, Deacon is full of great retirement adv...

Many people love to travel, as a matter of fact, it is at the top of just about everyone’s list of things to do when they retire. Usually, when we think of travel we think of stays in 4 or 5-star resorts and all-inclusive hotels. But what if you could find a deeper meaning to travel? Chris Niemeyer joins me today as we discuss meaningful travel. On this show, Chris and I discuss how you can create...

This is my third episode of the Retirement Plan Live case study. Over the past few weeks, we have gotten to know Lori as she has shared many details of her finances, lifestyle, and how she and Bruce have begun to prepare for retirement. Today we continue our journey by delving deeper into their finances and learning how they have prepared for the unexpected. Listen to hear how Lori and Bruce have...

No matter how much money you may have, worrying about money is part of human nature. We all worry that we may not have enough no matter what our tax bracket is. Even though that is the case, I still say money does not come first when planning retirement. When planning out your financial resources to prepare for retirement, first think about the life you want, then think about the money. This is th...

On today’s show, I interview Lori and we begin to plan her ideal retirement. There is no one size fits all retirement plan out there. Everyone’s ideal retirement will look different since we all have different priorities and financial goals. Listen in on this show to find some excellent resources to plan your own retirement. You’d be surprised to hear where the challenges are in planning this impo...

Planning for the future has many challenges and you may not know what could be a threat to your retirement. There’s something you may not have thought about when planning your retirement. Over the next four weeks, we’ll be learning about Lori and Bruce in my Retirement Plan Live case study. By studying them you will gain great insight into how to prepare for your own retirement. Listen today as I...

My grandmother lived through the great depression. She was 10 years old when it started and remembers the struggle. What she went through during those years has shaped her decision-making process. She is very frugal. I can remember her saving small bits of wrapping paper when I would have thrown them out. For many of us, we have been affected similarly by the Great Recession and make decisions bas...

I’ve been married to my wife for 27 years. That’s a long time! I have noticed that there has been a rhythm within our relationship over the years where, as we have become more comfortable with each other, we begin to become disengaged. Not disengaged in a spiteful way but simply not as focused as a team. This happens in any relationship whether it be a parent and a child, the relationship between...

Several years ago I participated in an Ironman Triathlon. I didn’t win, not even close. I finished in the 77th percentile. Turns out, the winner could have started 6 ¼ hours after me and still beat me. So was this experience a failure? It depends on how you look at it. I enjoyed the experience, I loved the cycling and felt refreshed by the countryside surroundings. So for me, this was definitely n...

Indexes are comprised of many companies. Yet only the top few companies drive the index. What happens if we hit a rocky patch in the markets and those companies falter? On this episode of the Retirement Answer Man, I dive into the pros and Cons of investing passively v.s actively and what might happen if a Bear Market does indeed come. Bear Markets might be bad news for your Retirement. A Bear Mar...

Have you ever had your identity stolen? I have. It’s not fun. It can leave you feeling helpless and frustrated as you try to prove who you are and undo the false financial claims against you. In this modern era data is everything. Your life is wrapped up in one 9 digit code, your Social Security Number. If someone were to get that number they could open credit cards in your name, access your life...

My listeners have been asking great retirement questions, and this podcast episode is focused on giving answers to some of those. I’m excited today to bring on my awesome sidekick, Nichole, to play the part of the listener and ask the questions. One really important question is whether your financial advisor should have access to your 401(k), including your username and password. While this can be...

#186 - Retirement Travel - One Way to Fund Your Dreams Do you have dreams for traveling in retirement? Everyone’s dreams are different, but every dream is going to cost some money. On today’s episode of The Retirement Answer Man, my friend Jamie joins me to talk about one creative way to fund your travel dreams. Discover how you can use your home to produce income when you’re not there, so that yo...

In the news today, credit card debt has reached over 1 Trillion dollars. In addition, we have 1.2 Trillion dollars in auto debt, 13% above the previous record. Impulse shopping is easier than ever, and this can be bad news for your retirement! On this episode of The Retirement Answer Man Podcast, I talk about spending and some safeguards you can put in place so that you don’t overspend on things y...

Passive investment management has taken over the world. Nine of the top ten mutual funds are based on passive investing. On this episode, I explain what passive investing is and how it works, the top two indices that most funds are based on, and the advantages and disadvantages of investing based on those indices. I also take some time today in the Practical Planning Segment to answer listener que...

Pre-tirement is that phase between full-time work and what we think of as traditional retirement, and it could be the key to you having a great retirement. Traditional retirement planning that focuses only on investing just doesn’t work. It doesn’t inspire much confidence or clarity about what your future could be. On this episode, I explain the advantages of pre-tirement and give you some ideas t...

If you want a great retirement, you don’t need better answers, you need better questions. Pretty much everyone in financial advice and the media want us to stay with tactical questions like “How should I allocate my investment account?” “Are interest rates going to go up soon?” and “Am I saving enough?” These tactical questions are like tools in a toolbox that can’t be used well until after you de...

The top financial stress in America, according to a Gallup poll, is not having enough money for retirement. Some people choose to ignore it to avoid the stress, but for others, the worry is a motivator to be proactive and get moving in the right direction. In this podcast interview with Emily Guy Berkin, we will discuss why there is so much financial stress, how to get a better understanding of yo...

Have you ever considered that it might be advantageous to retire overseas? Where your home will be when you retire can dramatically change what the landscape might look like financially. There is a growing trend of Americans retiring outside of the country. Should you be one of them? That’s the topic of today’s episode and interview with Keith & Tina Paul, who are retired and living in Cuenca,...

Do you want to have a great retirement? Make sure you value the right things. It is possible to make a million dollars and feel poor, or to make $60K and live a rich and full life. On today’s episode, Jason Parker joins me to talk about how to calculate your retirement spending and make wise choices that will benefit you long-term in your retirement years. Listen in to learn about the new software...

There is a lot of weird science out there when it comes to investment management. But if we’re going to be successful in investing for retirement, we need sound science. Last time we talked about asset allocation for the flexible portion of your portfolio. Today we’re going to talk about the science behind the fixed portion. Index-based investing is currently the popular way to manage this side of...

David Booth once said, ““The important thing about an investment philosophy is that you have one.” But how many people who are actively planning for their retirement actually DO have one? You’d probably be surprised to know that much of the planning side of “retirement planning” is pretty haphazard. Even among investment advisors. But I've learned that it’s vital to know what your goals are and WH...

“Learn the rules like a pro so you can break them like an artist” (Pablo Picasso). When I was taking a math refresher course for my certification, I had to memorize and practice calculating investment specific formulas. I have never had to use that skill again. But it did serve a purpose in giving me a greater appreciation for the rules as well as an understanding of where those rules are useful a...

What you base your assumptions on when it comes to market forecasting and retirement planning will determine the course of action you take. Forecasting typically comes from respected “experts” who we all look to for advice, but here’s the problem: None of them are 100% accurate. In fact, even with all their knowledge and experience, they are often way off in what they predict. How can you plan for...