Retirement Answer Man

March 2024
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Wed, 27 March 2024

How to Manage Your Scarcity Brain with Michael Easter

Have you ever wondered why it is so hard for you to spend your money? Even now after all these years of saving you know you have enough, but it’s hard to let go and untie those purse strings.

Today, my friend and renowned author, Michael Easter joins me to discuss overcoming frugality from a different perspective. Click play to hear about the evolutionary mismatch that hinders you from spending your money.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

LISTENER QUESTIONS

[2:38] Clarification on the 5-year Roth conversion rule
[4:36] Simple IRA rules
[6:50] The tax impact of waiting to take Social Security

PRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER

[12:00] Why Michael pursued the concept of the comfort crisis
[18:32] How discomfort becomes rewarding
[20:20] How we can change our decisions in small ways
[24:25] How to manage your scarcity brain in retirement
[33:48] We often focus too much on the numbers
[36:59] The scarcity loop

TODAY’S SMART SPRINT SEGMENT

[41:10] Take the stairs

Resources Mentioned In This Episode

BOOK - The Comfort Crisis by Michael Easter

BOOK - Scarcity Brain by Michael Easter

Stutz

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM532.mp3
Category:general -- posted at: 2:00am CDT

Wed, 20 March 2024

Overcoming Frugality in Retirement with Dan Crosby

For the past ten years, we have been exploring how to do retirement right so that you can get down to the business of living a great life.

This is why this month we have had a series of special guests. Today’s guest is behavioral investment expert and author Dan Crosby. Together we explore why it is so hard to overcome your money mindset and how you can learn to let go to enjoy the money you have worked so long and hard to save.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT WITH DAN CROSBY

[3:38] Overcoming frugality
[10:56] How to gain confidence in the midst of uncertainty
[19:19] What are things you can do to overcome your frugality

LISTENER QUESTIONS

[26:52] How do people in retirement spend less money than more money?
[33:44] Does it make sense to use money allocated for a 401K for a second home?
[37:33] A comment on this past Retirement Plan Live
[39:20] How to fund my HSA in retirement
[42:13] How to look for blind spots once you have your feasible plan of record

TODAY’S SMART SPRINT SEGMENT

[47:16] Is there something else important that you could add to your life or retirement

Resources Mentioned In This Episode

BOOK - The Soul of Wealth by Dan Crosby

BOOK - The Top 5 Regrets of the Dying by Bronnie Ware

BOOK - Die with Nothing by Bill Perkins

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM531.mp3
Category:general -- posted at: 2:00am CDT

Wed, 13 March 2024

What is True Retirement Planning? With Christine Benz

Retirement planning has changed over the years, but has the industry evolved to keep up?

Your retirement needs are much different from those of your parents' generation. This is why it is important to focus on retirement planning in a holistic way rather than from solely a financial perspective.

Morningstar’s Christine Benz joins me today on this episode of Retirement Answer Man. This seasoned retirement journalist shares her thoughts on the state of retirement planning, long-term care, investing in retirement, and what encompasses true retirement planning.

Listen in to gain more perspective as you navigate your retirement journey.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT WITH CHRISTINE BENZ

[4:55] The state of retirement planning as a process
[18:30] The state of investments for retirement planning
[22:16] The state of long-term care
[25:26] How to begin to plan for retirement decumulation

LISTENER QUESTIONS

[30:45] About opening a Roth for a child
[32:51] How to create a 5-year income floor with financial capital
[37:11] On using bonds to fund the 5-year income floor
[41:44] Should you keep investment accounts under the FDIC and SIPC limits?
[46:30] Should I have a Simple IRA and Solo 401K?

TODAY’S SMART SPRINT SEGMENT

[50:00] Understand what this year’s retirement contribution levels are

Resources Mentioned In This Episode

BOOK - More than Enough by Mike Piper

BOOK - Die with Zero by Bill Perkins

Morningstar Christine Benz

The Longview Podcast

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM530.mp3
Category:general -- posted at: 2:00am CDT

Wed, 6 March 2024

How Systems Thinking Can Improve Your Retirement with Rick Nason

This month we celebrate the Retirement Answer Man’s 10th anniversary milestone with several guests throughout the month.

Today we welcome Professor Rick Nason, author of It’s Not Complicated, to discuss complicated vs complex thinking. If that discussion didn’t Stick around for the listener questions with Tanya Nichols and Bring It On with Dr. Bobby Dubois

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

COMPLICATED VS COMPLEX THINKING WITH PROFESSOR RICK NASON

[4:20] Defining simple, complicated, and complex
[9:11] Why it is important to identify whether you’re dealing with complicated vs complex
[18:10] How to approach complex problems
[29:30] How AI plays into the discussion of complex vs complicated thinking