Retirement Starts Today

I've always said that it's important to retire to something rather than away from something. To do that means finding a sense of purpose.  In this episode, we'll explore an article from  PhysicianOnFIRE.com  that discusses how retirees can discover and maintain a sense of purpose in their lives after leaving the workforce. Make sure to stick around for today's listener question. This one was my fa...

Would a 0% tax rate help you live an even better retirement? In this week's Retirement Headline, we'll explore a WSJ article titled How You Can Grab a 0% Tax Rate . If that doesn't pique your interest, I don't know what will! Listen in to hear how you can learn to plan so that you can take advantage of a 0% tax rate on capital gains income. Outline of This Episode [1:42] How to grab a 0% tax rate...

Scammers are constantly changing their playbooks to try and stay ahead of the authorities. That is why the IRS annually updates its "Dirty Dozen Tax Scam" list. This week we'll explore the latest article from the IRS  on this year's tax scams then we'll check out an article from  Financial Advisor Magazine  that involve questionable tax practitioners and charitable remainder annuity trusts. Don't...

As a financial advisor that thinks a lot about the Medicare surcharge IRMAA, an article titled Stop Worrying About IRMAA written by a source I trust certainly caught my eye.  In this episode, we'll explore what IRMAA does, reflect on the article, and discuss whether the IRMAA surcharge is worth worrying about. If you have questions about IRMAA or are starting to approach Medicare age you won't wan...

Who wants to live longer? I know I do! Before you start taking magic pills and seeking the fountain of youth in an effort to increase your life span, Alex Janin from the Wall Street Journal suggests you start exercising.  In this episode of Retirement Starts Today, we'll explore Alex's article,  What if the Most Powerful Way to Live Longer Is Just Exercise? Make sure to stick around for the end of...

If you have diligently saved throughout your career, you may be ready to retire, yet still feel uncertain about spending your savings. To truly live your best life in retirement you need to learn how to shift from a saving mindset to a spending mindset. In this episode of Retirement Starts Today, we'll help you do just that.  This is the podcast where you can learn how to spend more money and pay...

If you are new to the show, welcome! This is a place where we talk about how to spend more money, pay less taxes, and have an even better retirement. Today we're investigating that last part–the even better retirement.  In the retirement headlines segment, we'll take a look at a  CNBC article  that dives into an 85-year happiness study from Harvard University. Results from this study reveal the nu...

Do you long for a lost golden age when everything was better? If you do you're not alone. Many people feel that society is experiencing a moral decline. But is that really true?   On this episode of Retirement Starts Today, we'll explore a  New York Times article  that challenges this way of thinking and attributes it to cognitive biases. Listen in to learn what you can do to improve your thinking...

If you want an amazing retirement you need to start thinking about your future self. We discussed the idea of your future self on a previous episode  where I interviewed my coach, Dr. Benjamin Hardy. In this episode, we're taking a look at another book on the future self,  Your Future Self  by Hal Herschfield. I'm listening to the audiobook now and this topic has me thinking about how it applies t...

Happy 4th of July weekend!! Can you believe the podcast that started as a crazy experiment on my kitchen counter in the fall of 2015 is now over 300 episodes?! Thank you for all your support over these many years.  As a way to say thank you, I'm heavily discounting Retirement Income University this month.  Enter promo code "PODCAST" for a special $300 price to celebrate episode #300 (nearly 40% of...

One of the greatest financial assumptions is that it's always better to own than to rent. However, in retirement, this may not be true. Once you are financially independent it is important to realize that not every dollar you spend needs to yield a return. Join me for this episode of Retirement Starts Today to question traditional thinking and to see how you can improve your life, spend more money...

Have you considered working part-time in retirement? A growing number of older adults are choosing to continue work even after reaching retirement age. While some continue work due to financial necessity, many choose work that offers fulfillment and enjoyment. In the retirement headlines segment of this episode of Retirement Starts Today, we'll explore the meaning and nature of work and what that...

If you clicked on this title you may be wondering what a $300 gym bag has to do with retirement. Well, this podcast focuses on learning how to spend more money and pay less taxes to set yourself up for the ideal retirement. Outline of This Episode= [1:32] What a new gym bag can teach us about retirement [4:20] The lens that you view your purchases through [6:25] A thought experiment Connect with B...

Have you ever considered joining a retirement mastermind group? Many of us choose mastermind groups to further our careers, businesses, or other areas of our lives, but few think to create one for retirement planning. Today, we'll focus this entire episode on Fritz Gilbert's  recent article  on his experience creating a retirement mastermind group.  You won't want to miss out on hearing what you c...

Have you ever thought about how much money you need to be truly happy? If so, you're not alone. And chances are that number is elusive.  In today's Retirement Headline segment, we'll check out an article from  The Atlantic  called " The Reason Many Ultrarich People Aren't Satisfied With Their Wealth ." In doing so, we'll explore human nature and how to know when enough is enough. In the Listener Q...

If you have found this podcast you're probably interested in spending more money, spending less in taxes, and making life even better in retirement.  On this episode of Retirement Starts Today, we're taking a look at how to spend more money in retirement by assessing a two-part article from  AdvisorPerspectives.com  called A Framework for Assessing Variable Spending Strategies.  If you are trying...

Welcome back to the second part of our lessons in estate planning. Bret and I recently reviewed all of our clients' estate plans and in doing so, we learned a lot from this exercise that could help you and your heirs. If you haven't listened to  last week's episode  make sure to go back and listen–especially if you have stepchildren or blended families. In this episode, you'll learn why you might...

Bret and I recently reviewed all of our clients' estate plans this spring and, as a result, we have so much to share with you about what we learned. It was so much that we had to break it into multiple episodes! If you are curious about how this sort of meeting goes and wish that you could be a fly on the wall, you won't want to miss this episode.  Today we'll discuss why you need to ask yourself...

Do you ever get together with your friends from high school and wonder why they all look so old? Are you surprised by the image that you see in the mirror each morning? If so, you're not alone.  In today's retirement headline segment, we'll explore an article from Jennifer Senior at  MSN.com  that examines the abstract concept of feeling a different age in your head than you physically are in year...

Have you made any changes to your retirement savings due to the poor economy? If you did, you're not alone.  According to a  Financial-Planning.com  article, half of America stopped saving for retirement last year. Don't miss hearing why this is such a bad idea. Stick around for the listener questions segment where Bret and I address one listener's worry about the upcoming changes to the tax code....

You may be excited to jump on the early retirement bandwagon, but before you do, listen to this episode. In our retirement headlines segment, we explore a peer-reviewed article that shows that early retirement can accelerate cognitive decline.  Stay tuned for the listener questions segment to hear how to reimagine your retirement spending mindset by creating a flexible spending plan.  Retirement S...

Many DIY investors would like to learn more about the latest changes in financial and tax laws but don't have the same opportunities to attend professional financial conferences. The good news is that Bret and I do have these opportunities, and we relish sharing our findings.  On this episode of Retirement Starts Today, Bret shares his insights from his boots-on-the-ground experience at  Ed Slott'...

Have you ever used a Monte Carlo analysis to help you plan retirement? If so, the results can seem scary. You may be looking for a 100% likelihood of success so that you can rest easy–after all, you are probably hoping for a 100% successful retirement. However, in this episode of Retirement Starts Today, you'll learn why a 100% success rate should not  be your goal. Listen in to hear why. Outline...

We talk about retirement income guardrails a lot on this show, but today we'll go into greater depth while exploring an article from Kitces.com . This article was written by a mentor of mine and takes an advisor's perspective on how to discuss spending increases and decreases with clients. These are fantastic conversations to review if you have been implementing or thinking about using the guardra...

Do you want to know how you can fully utilize your biggest advantage over the IRS? Listen to this episode to find out.  Today, we explore a  ThinkAdvisor.com  article that turns traditional retirement tax thinking on its head. Then, Bret helps me answer a listener's question about opening a Roth IRA when your salary is too high. Bret has a great tip that you may not have thought of before. Finally...