Retirement Starts Today

With the news that January's inflation rate was a staggering 7.5%--the highest level in 40 years–everyone has inflation on their minds lately. Many retirees are reassessing how they can protect their nest eggs.  On this episode of Retirement Starts Today, we'll explore a WSJ headline, " There's No Perfect Way to Inflation-Proof Your Investments ," by Anne Tergesen. If you have been wondering how y...

Many people begin retirement with the question: what's next? That question can plant the idea of starting a second chapter whether it be a new business, a side hustle, a passion project, or a consulting business. The question then becomes, how to get started?  Gabe Nelson, the host of the  Solopreneur Money podcast , is here to discuss how you can start a business in retirement. In this episode, y...

Tax season is here. This yearly duty is something that a good portion of citizens put off until the last minute, with some even requesting an extension to file later. However, today I have 8 reasons for you to consider filing your taxes early. Listen in to discover why you might want to bite the bullet and file your tax return early this year. Outline of This Episode [1:12] 8 reasons to file your...

You may be worried about money in retirement, but are you worried that you won't spend enough of it? Today's retirement headline comes from Neil Templin over at  Barrons.com  and it examines how people's core spending and saving habits from their working years continue in their retirement years.  Listen to this episode to hear the author's suggestion for how to rectify this issue and whether or no...

 Do you know where you'll live when you retire? Deciding where to live in retirement is one of the biggest retirement decisions that you'll make. There are so many factors to consider that it can be overwhelming with the myriad choices.  On this episode of Retirement Starts Today, we'll explore a headline from J.D. Roth at  GetRichSlowly.org  that reveals a new tool from The New York Times which h...

Is saving for the future preventing you from enjoying your present life? This may be an unpopular opinion for a financial podcast, but it is important to ask difficult questions to experience growth. If over-saving is preventing you from enjoying your present life, then you need to make changes.  On this episode of Retirement Starts Today, we'll examine an article by Darius Foroux that asks,  Are...

Tax scams are as old as taxes themselves, so are you doing everything you can do to avoid them? In this episode of Retirement Starts Today, we'll explore what the IRS labels, 'the dirty dozen' tax scams. You'll learn who is targeted by the various scams and then you'll discover what you should do to protect yourself from scammers. Make sure to stick around until the end of this episode to hear wha...

Do you have gold as a part of your investment portfolio? Several years ago there were loads of infomercials about investing in gold, but after today's retirement headline you may want to think twice about complicated investment strategies. Don't miss out on this real-world cautionary tale which provides an example of how and why owners of IRAs with assets invested in nontraditional means need to f...

You may have noticed how the spirit of giving changed your mood this holiday season. That is because giving can actually increase your happiness. This week's retirement headline from BigThink.com is titled  How Generosity Changes Your Brain , and it discusses recent research on how giving to others promotes happiness. On this episode of Retirement Starts Today, you'll learn how acting on your gene...

Would you want to raise your standard of living for half of what you live on now? Tim Leffel did, which is why he chose to uproot his family from their life in Nashville to move to a small city in Mexico. Tim is the author of the book A Better Life for Half the Price and he joins me today to discuss the pros and cons of living abroad. Don't miss the opportunity to learn how you can save money by l...

Despite the economic downturn, 2020 turned out to be a fantastic year for charitable giving. In this episode, we'll look at how people chose to give and you'll learn about the efficiency of giving through donor-advised funds (DAFs).  In the listener questions segment, you'll learn how to survive a bear market in retirement. We'll investigate the length of the average bear market and see how you ca...

We've all been sitting at home for the past year and now everyone is getting the travel bug. That's why today we're kicking off the Summer Travel Series with an interview with Lee Huffman. Lee hosts a podcast called  We Travel There  and he writes a frugal travel blog at  BaldThoughts.com . I've been curious about the world of travel hacking, so I have plenty of questions for Lee about using trave...

What is the number one travel goal for people approaching retirement? Disney! People young and old alike love to go to Disney. In my 15 years of retirement planning, I have discovered that a multi-generational trip to Disney is at the top of most people's bucket lists. That is why I have brought the world's foremost expert on Disney travel, Lou Mongello, on to Retirement Starts Today for an interv...

Since travel is on many soon-to-be retirees' must-do lists I have created this summer travel series with various travel experts. Danielle Desir from the  Thought Card podcast  joins me today to discuss how to travel to any destination on a budget. Recognized by Flight Network as one of the best travel hackers in the world, Danielle has figured out how to travel to bucket-list destinations on a dim...

Now is a great time to start financial and tax planning for the next year. To do so, you must first look at any changes that were made to tax laws. We'll do that by exploring 2 articles from  Forbes  and  CNBC  which take a closer look at any imminent changes to the tax code. Then we'll dive into the main segment with an article from  Investment News  which claims that fewer retirees are claiming...

Have you ever filled out a questionnaire at your financial advisor's office? If you have, it was probably a risk tolerance questionnaire. I have my own opinions about them, but you'll have to wait until the end of this episode to hear what it is.  On this episode of Retirement Starts Today, we'll explore an article from  AdvisorPerspectives.com  written by Dr. Wade Pfau and Alex Murguia which argu...

Do you let news headlines affect your choices? The Center for Retirement Research at Boston College wanted to learn more about this question, so they conducted a study to find the answers. In this episode of Retirement Starts Today, we'll take a look at the findings of this study and analyze how people's misconceptions can influence their life choices in retirement. After checking out the retireme...

Our chances of death are 100%, so that means at some point in your life you will probably experience the death of a loved one, and you'll need to prepare for your own passing. Choosing the right executor can make a traumatic time more bearable. The role of executor is not an easy one, which is why it is important to choose wisely.  In this episode of Retirement Starts Today, you'll hear an intervi...

If you are like many Americans who watch the news, inflation is probably on your mind. Since the Covid 19 pandemic began costs have been rising. We are still facing the effects of the supply chain breakdowns brought on by the pandemic in addition to extreme worldwide weather events.  These events have led to an increase in the price of goods on everything from fuel to food to lumber. This type of...

The end of the year is coming up right around the corner, and you know what that means: it's time for end-of-the-year tax planning! However, this year's tax planning may look a bit different with new tax legislation making its way down the congressional pipeline. Many wealthy individuals are nervous about what the current regime has in store for them. This is why when I saw the headline  Tax Moves...

Do you wish that you could have a mulligan when it comes to taking your Social Security benefit? Once you file for Social Security, it seems like your decision is set in stone. But what if I told you that you have options to reverse your decision?  In this episode of Retirement Starts Today, we'll explore an  Investment News article  written by one of my favorite Investment News contributors, Mary...

 Do annuities give retirees a different attitude towards spending in retirement? In this week's retirement headlines, we'll examine an article that discusses the psychological benefits that retirees who shift their assets from savings to lifetime income enjoy. This group of retirees has more of a license to spend attitude and ends up gaining more enjoyment from their retirement savings.  Make sure...

 The annual Social Security beneficiary report was recently released and just like every other year that they release it, it has caused people to worry about their future. Social Security is a crucial, foundational element of most retirement income plans, so when you read headlines that it will run out soon how should you react?  Should you go about changing your retirement plans altogether? Shoul...

Have you been feeling the pull to retire? This feeling isn't constrained to those nearing retirement age; many people have been feeling the desire to quit their jobs lately. So many workers are considering a job change that this wave of people has begun what is called "The Great Resignation." I read about this phenomenon on  The Guardian website  in an article written by Elle Hunt. Elle considers...

In retirement, you have all the time in the world, but are you using your time wisely? I recently read an  op-ed article from CNBC  about the power of delegation and it got me thinking about the way we spend our time.  On this episode of Retirement Starts today, we'll explore that op-ed article, I'll share what I learned about inherited IRAs this week, and I'll answer a listener question about ret...