Retirement Answer Man

You may not even know what “hyperbolic discounting” is. But it’s something we all fall prey to numerous times, at least weekly. It’s the temptation to do something now that you know is not the best long-term. On this episode, I tell the story of how I bought a set of noise canceling headphones even though I knew that the money spent on them could have been invested more wisely in other ways. It’s...

You want to get the most out of your Social Security benefits, right? I’m with you, maximize Social Security as much as you can! But there’s a lot of conflicting advice out there about what you should do to make that happen. Some advisors are saying you should take early but reduced benefits in view of life expectancy while others are saying the early benefit is wise because social security is not...

I’ve been hearing a lot lately about the so-called retirement crisis that’s happening in the United States. And what I think has happened is this - a long-held belief that rising costs and the decreasing value of the dollar make retirement more and more difficult - has conditioned us to think in terms of survival instead of in terms of possibility. We approach retirement planning with a crisis min...

In case you haven’t noticed, the recent election has had a pretty significant impact on the strength of the dollar worldwide. The U.S. dollar is actually gaining strength in the world economy - it’s at a 13 year high - and it’s in large part because of what financial gurus around the world believe is going to happen in the U.S. economy because of the election of Donald Trump. But do you know what...

It’s almost time for that year end tax planning. 2017 is going to be here before you know it! Over the past few weeks, I’ve been talking with quite a few of my clients about their year end financial planning and realized that the things I’ve been talking about week after week these days could also be of help to YOU! So on this episode, I’m going to walk you through some of the most common things I...

The power of reading is something you shouldn’t underestimate. Even if you don’t enjoy reading. That’s because there’s no other resource in the world where you can spend $20 and get a potential return of thousands of dollars, increased happiness, greater success, and a whole lot more. I’ve been thinking about this a lot lately because I’m discovering that the older I get the more I appreciate book...

Do you understand the concept of sunk cost? It refers to anything you’ve invested time or money in and afterward discover that the thing is not going to play out the way you thought. It could be an investment, a hobby, a project of some kind, a purchase, even a political candidate. The tendency we have when this happens is to stick with the unproductive thing simply because we’ve sunk so much into...

The 2016 Election in the United States is being hailed as one of the WORST campaigns in American history. It’s pretty bad but historically it’s actually not the worst that has happened. The election of 1828 between John Quincy Adams and Andrew Jackson was truly vicious and I for one am thankful that we’ve come a long way from those days. But in every Presidential election cycle, the financial mark...

I love putting out episodes of the Retirement Answer Man podcast because you don’t think about your retirement every day of your life, but I do! I get to experience varied conversations with people from all walks of life about their retirement goals, every day of the work week. That’s a lot of varied experiences - and I love to share them with you on the show. One thing that’s been coming across m...

When I think about the way the American Dream is typically carried out, it looks like a “Paint By Numbers” exercise. We’re given specific things we’re supposed to do in life - graduate High School, go to college, get a job, work a long time, save up for retirement, retire. But is that really the way it has to be? And does it NEED to be that way? What if you don’t want it to be that way? What can y...

When I speak to clients and potential clients it’s amazing that the #1 fear they have about retirement is not how they are going to support themselves financially, where they are going to live, or what their standard of living will be. The #1 fear I hear from clients is the fear of losing their minds. Dementia, Alzheimer's, and other mental conditions are top of mind for those nearing retirement b...

Anyone who is a reader would be happy to give you their “top 10” list of book recommendations. But today’s episode is not about my top 10 - it’s simply a list of books that have had a great impact on my life through the years. Your list will by default be different than mine and that’s OK. I just wanted to put these books on your radar so that if you’re not familiar with them, you might consider t...

All of us can become better decision makers but we often don’t realize that one of the most important realms of life we need to do that in is relating to the small things. Small things add up over time to become really big things. Just ask the alcoholic or an inmate in a penitentiary. They’ll tell you that what I’m saying is true. On this episode, I continue my thoughts about how to make better de...

Decision making: It’s been said that not making a decision is actually making a decision. But we tend not to think of it that way because it doesn’t feel like we’re making a decision. It feels safer to go on the way things have been instead of making a change. But is that true? On this episode of the Retirement Answer Man, I’m excited to share some of the things I learned from a recent event I att...

It’s not a good things when the financial services industry is freaking out.  I mean really - these are people who are giving advice to you about your finances and retirement. Does it make YOU feel good when you see them freaking out? You might be wondering what in the world I’m talking about. It all has to do with a new regulation that’s being passed regarding how people who work in the financial...

 Economic growth is always a hot topic when election year rolls around.  The candidates make it sound like a lack of growth is the worst thing that could ever happen during any President’s term. But is that true? And furthermore, are there actually benefits to having times of economic slowdown or even recession? On this episode of The Retirement Answer Man, I’m answering a handful of listener ques...

Economic growth is the hot button topic during this election.  Have you noticed? When politicians, analysts, and talking heads on the news use that term “economic growth” - what do they really mean by it? It’s easy to make assumptions and easy to get lost in the verbiage because it sounds like something we all want. But what if everyone who’s using the term is not meaning the same thing by it? On...

Personal values are really important. Do you know what yours are?  It’s easy to respond immediately to the question with a “Sure, I know what my personal values are.” But do you really? I didn’t until I was challenged by my life coaches - Robert Mallon and Bill Watkins - to write down my top 10 personal values. It was HARD, but so helpful. The reason it’s important to write them down is because yo...

Burnout may not be top of mind for you when you’re thinking about retirement.  But maybe it should be. After all, you won’t be as productive in your pre-retirement years if you’re subject to job related burnout all along the way. Toward helping you think about your retirement planning in a healthier and more productive way I’ve asked Dr. Clark Gaither to join me. He’s known as “Dr. Burnout” and ha...

Retirement age is approaching faster than most of us want to admit.  It will be here before you know it - and one of the most common things I hear from people who have moved into their retirement years is this: “I don’t feel very secure.” I used to think of retirement age security as an issue of dollars and cents, but it’s more than that to me now. I’ve come to understand that whether or not you f...

One of the biggest pitfalls of being an investor is that we tend to make emotional investing decisions. What does that mean? Take a scenario for a moment: the market takes a serious dip and stock prices plummet. The tendency the majority of investors have is to rush to their advisor and try to make changes in order to mitigate the impact of the downterm. But if that investor was guided wisely in t...

One is the loneliest number, right? It’s hard to think about retirement without honestly assessing the possibility that loneliness could be a very real aspect of it. But does it have to be that way? Not if I can help it! I’m Roger Whitney, the Retirement Answer Man and on today’s episode of the podcast we’re veering away from our normal financial topics to continue investigating the ways that tech...

Do you remember your very first car? Do you remember the feeling of freedom and responsibility it gave you? The kind of mobility that comes from having and driving your own vehicle is something that many of us have been enjoying for 30 to 50 years. Have you taken the time to consider the impact that it could have on your life if you were to suddenly (or eventually) be limited in those ways because...

It seems funny to think about but those old Jetsons cartoons from the 1960s and 1970s are actually becoming more and more reality in the present day. More and more opportunity and concern is arising from the advances in technology that we see happening around us. I believe that many of these advances can be used to maximize our lives during retirement, giving us a happier and more comfortable life...

Hey, it’s me, Roger Whitney - the Retirement Answer Man - and I’m here to help you not only plan for a happy and healthy retirement season but also to live a happier and healthier life now as you move toward retirement. On this episode we’re going to tackle the volatility in the markets as a result of the news that Great Britain has voted to leave the European Union. There are many things to consi...