Retirement Answer Man

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...

Yeah, you read that right.  Bill and Sally cannot achieve their ideal retirement. That really sucks....or does it??? Remember in episode 55 , when I outlined Bill and Sally's ideal retirement? I said "too many people are being too reasonable when setting their retirement goals" and challenged you to think BIG about yours. Well, that's what Bill and Sally did. The fact that they can't achieve their...

If you asked me what was the most important item you should do to track your financial health I would tell you to track your net worth. A net worth statement is the most powerful tool you can use to track your financial progress over time. This simple one page document represents the sum of all your financial decisions over time.  There's no hiding with good intentions on a net worth statement. Ul...

Too many people are being too reasonable when setting their retirement goals. STOP! When you start your planning for retirement it is critical that you think big. There's time enough later to be reasonable. Right now, focus on what your ideal life would look like....what would your life be if you could "have it all"?  I know, thinking big about your future, is much harder than it seems, especially...

Want to retire a year earlier? Maybe have a bigger lifestyle budget for travel? You might be able to if you change your relationship with your car.  "According to Edmunds.com, the average monthly payment on a new vehicle is $479. Considering your existing car is trouble-free, saving that $479 per month means an annual savings of $5,748 by postponing the purchase of a new vehicle" ( bankrate.com )....

Okay, you're planning for retirement, but what exactly are you planning for? I don't think most of us think about this. We work and save and work and save, but spend little time figuring out what we'll actually do when we retire.  In this episode, I interview Tom Schwab of Goodbye Crutches and Inbound for eCommerce .  Tom is a great example of someone that overcame a potentially devastating busine...

I'm still amazed at the level of engagement and transparency "Carl" has had throughout the process of creating his retirement plan on the show. I'm just as amazed at how much the series has resonated with you, the listener. Your questions, comments, suggestions and thank you's made the series better. In this episode, you'll get to hear directly from Carl and Jane as we discuss the Can Carl series,...

WOW, your response to the Can Carl Retire? series in January and last Friday's results webinar were off the charts. I received so many kind comment and sharp questions from you. In today's episode, I'll answer a portion of your questions and will work to get to the rest of them in next week's episode. Please keep them coming. If you're wondering, no doubt thousands of others are too. Want to Watch...

Don't Skip This Step!    Sign Up for Friday's Webniar Here One of the most heartbreaking things I've seen over 24 years advising families is a surviving spouse or family member dealing with an unorganized estate. Not having your affairs in order, puts a huge burden on your family and compounds the stress of there loss. According to a recent survey, 61% of people don't have a will. Even those that...

Risks can rob you from living a great life. Focus too much on them and you can miss out on a full life. Ignore risks and you can destroy your family's financial security. If you've started planning for retirement, you're probably overwhelmed with all the things you should worry about. This week, we'll address, head on, some of the biggest risks during retirement and help you assess  how to handle...