Retirement Answer Man

Here’s how to start fixing your retirement plan

One of the most tempting but dangerous things investors (and investment advisors) do is to react in light of what current markets are doing. Don’t misunderstand, it’s always wise to make adjustments when needed, but not to your overall strategy or plan. You put together that strategy to accomplish certain goals within certain timeframes, and over the long haul, it should accomplish your goals give...

Today’s episode of The Retirement Answer Man debuts a brand new format that will help you make even more of your retirement and financial planning. From here on out all episodes of RAM will be consist of 3 segments - The Hot Topic, where Roger addresses current issues on the financial horizon - The Practical Planning segment, where Roger gives you practical, actionable tips to help you get your re...

Roger starts the show off with a bang today by answering a listener question: “I’m a smart guy. So why do I make such stupid decisions when it comes to money?” Feel familiar? We’ve all made our share of mistakes in the financial areas of our lives, and that pattern never really changes unless we come to grips with the REASONS we make those decisions in the first place. As you listen to Roger’s res...

Retirement planning is as much about additional sources of income as it is about investments. Roger’s guest today, Matt Miller, has built a company that offers savvy retirement planners a legitimate way to add an additional stream of income to their current situation - either on the side or with hopes of it moving toward a full time business. It’s entrepreneurial to the core; becoming a business o...

I've been hacked!!!! To prove that talking retirement planning doesn't have to be dull, Joe Saul-Sehy from the Stacking Benjamins Show hacked into this week's show. We were all set for another super serious retirement planning show when Joe from Stacking Benjamins hacked in and took over. Evidently Joe thought I was getting a bit too serious and wanted to lighten up the show a bit. Although he mad...

It's easier than ever to become a terrible husband. Our connected world has caused the outside world of news, work and friends to compete for the limited attention we have when we're at home.  If you're not careful e-mails, status updates and the internet can rob your wife of her rightful place as the center of your life. This year my wife and I will celebrate our 25th wedding anniversary. I'm hap...

What do you think the midyear outlook for the market is? Greece, is all over the news (what is it with Greece, anyway?), markets in China are crazy and here in the U.S. everyone is freaked out about when interest rates will rise. What is an investor to do? In this episode, we'll discuss the midyear outlook for the markets as well as the importance of managing your assets in a consistent well thoug...

Many say the American dream is dead. That getting married, starting a family and building for the future is no longer possible. Unfortunately, many others believe it when they hear it. All the while though, there are people with "normal" jobs building the American Dream step by step. One such person (or couple) is Molly and her husband. He works as a teacher. She works part time. They have a home...

Do you remember your high school sweetheart?  I remember.....all of them. Young "love" is exciting how often does it turn into true love, that lasts into retirement?  I found my true love, Shauna, in college. This year, we'll celebrate our 25th anniversary. When did you meet your true love? In this week's journey to retirement story, we hear from true high school sweethearts, John and Patti. Lesso...

You'd never intentionally make a stupid investment for your retirement. Yet, most of us do everyday. We invest or should I say digest horrible things into our body. Over time these bad "investments" rob us of the most important thing in retirement, our health, and potentially give us a huge negative return in the form of high health care expenses. Luckily, there are some simple things you can do n...

IS ANYONE THERE???  I ask because, no one wants to talk about dying or end of life costs. Seriously, when does one bring this subject up?  At a family dinner?? Maybe on your Saturday date night???  Most likely the subject is broached when you bear witness to the devastating effects it has on someone you know. The Emotional and Financial Costs of End of Life Care  I've learned a lot about the devas...

You may die tomorrow. You may get sick. There's no way to predict it and there's nothing you can do about it. Yeah, It sucks, I know. I've got the same deal. As important as planning for retirement is, its just as important...no, more important....you make the most of the only life you have. The one that's happening right now! The frailty of life is so easy to forget. We're so busy planning, worry...

If you're working to build a great retirement, stop listening to weekend investment talk radio. The economics of these local shows encourage the sale of investment product rather than offering sound investment advice.    In this week's episode, I answer listener questions and talk about the difference between investment and investment product and why too much worry will rob you of your life. Brend...

Have you noticed how these Journey to Retirement stories have little to do with money? Each listener story has focused on freedom and experiences. Favorite Quote From This Week's Story  "It (retirement) means the freedom to do what we want, when we want and where we want.” Lessons Learned  It’s important to think about what financial situation your spouse will be in when you pass. Pay attention to...

Ask anyone and they'll most likely say they want to have a great retirement. But looking at the day to day financial decisions of most people might tell a different story.  What you do speaks so loud that I cannot hear what you say. Ralph Waldo Emerson It's not enough to want a great retirement. You need to decide what it will look like, create a plan to work towards it and execute your plan day b...

"The younger generation is ruining this country!" This was said about the baby boomers. Now it's said about the millennials. The fact is, each new generation brings a fresh perspective that helps our society and country renew itself. Recently I spoke with a "millennial" who, like you and I did, is working to raise a family and save for the future. Want to Learn How to Draw From Your Savings During...

We all screw up along the way to retirement. We blow all our earnings. We accumulate a pile of debt. We dig a hole so deep, we wonder if we can every get out and prosper financially. In my 20's I bought a nice BMW and my wife and I built a fancy custom home. Both of us were earning good money and our prospects for future increases were great.  I thought this adult career thing was easy. Projecting...

Despite what the media and some financial advisors tell us, preparing for retirement isn't about fancy strategies or the best investment. This week listener "Rick" shares his story of how he became a 401(k) millionaire by using a simple but powerful strategy. "Rick" was the first listener to share his story. Rick isn't his real name and in order to present you a better image of who he is, I asked...

There are plenty of people around today that will offer their services as a “life coach” or “business coach.” Few have the demonstrated history of success as businessman, family man and friend to man as Aaron Walker. Register for May 26th's Webinar: How to Manage Cash Flow in Retirement  Click Here to Register In this episode, Aaron shares his Journey Towards Retirement. Below are some notable quo...

At the end of day, all that matters is what retirement means to you. Forget what the commercials say. Forget what the brochures say. Forget much of what your advisor may say. You don't have a "number", you have a life that you get to define and live.  This week, I'm starting a new series called Retirement to Me, where you, the listener, get to share the lessons you've learned along your journey an...

If you want to retire and are looking for guidance don't just find someone smart. There are plenty of smart advisors with plenty of smart ideas. It's been my experience that smart by itself, isn't enough. If you want to retire successfully, it's better to seek out wisdom. "It ain't what you don't know that gets you into trouble. It's what you know that just ain't so." In this episode, I discuss so...

If you work for a company you're a cog in the machine. You're a replaceable part, easily eliminated or replaced if it suits the needs of the company. Sorry to be so blunt. I'm not trying to hurt your feelings. It's just important you accept this if you're going to thrive in the years ahead. Marc Miller is the founder of Career Pivot , which helps Baby Boomers design careers they can grow into for...

Most of the personal finance blogs you read focus on how to be more frugal. How to cut costs so you can safe and invest for retirement. it's important to be frugal but frugal only goes so far. I've invited Paula Pant from Afford Anything to chat about frugality and what might be a better place to focus your time if you're saving for retirement. Paula, is a thirtysomething that has chosen a unique...

Just because Bill & Sally can't achieve their ideal retirement, doesn't mean they can have a great retirement. In this episode,  we'll discuss:  Why it's okay to not be able to achieve an ideal retirement Common ways to adjust your retirement plan Uncommon ways to adjust your plan How to gauge how much investment risk to take during retirement Preview tomorrow's webinar results show How to Acc...