Retirement Answer Man

A new year means a new Retirement Plan Live! Over the course of the next 4 episodes, you’ll hear about Joelle and Mike and their plans for their recent retirement. Then, at the end of the month on January 27, we’ll wrap RPL up with a live webinar that you can participate in. Head on over to to register.

On this episode, you’ll learn about Joelle and Mike’s thought process on moving to a different state for their retirement. You’ll also hear from Kevin in Coach’s Corner as he explains his Zero Based Budgeting process. This episode is jam-packed with information including one correction to an answer that I recently gave to a listener question. Press play to listen now. 

Coach Kevin’s Zero-Based Budgeting process

Creating your financial plan in retirement shouldn’t only include dollars and cents. It is important to build a plan that encompasses your life goals. Most people tackle their retirement budget from the wrong direction which is why Coach Kevin came up with his own budgeting process.

  • Step 1 - Start with 2 major retirement questions. Where will you live? Will you work or generate an income? Both of these questions can drastically change your retirement budget. Think about whether you’ll move somewhere new or whether you’ll stay local and how that decision will affect your budget and your retirement plans. If you choose to work a bit in retirement, that choice won’t simply change your budget; it will also change how you spend your time.
  • Step 2 - What activities will you do? Think about 3-5 activities that bring meaning and purpose to drive your life in retirement. Which activities would you like to build your life around? Set yourself up to do the things that you love to do. 
  • Step 3 - What would make retirement special for you? This is where you get to think big. What are your retirement dreams? Would you like to travel to distant lands, buy a boat or RV, or maybe renovate your home? 

Once you work through these 3 steps then you can begin to create your retirement budget. It is important to start with these steps rather than the money first so that you can ensure that you are making the most out of your retirement. 

  • Step 4 - Continue creating your retirement budget by planning your day-to-day activities in retirement. These activities could include gym memberships, golf fees, sporting event tickets, theater tickets, and other areas where you will spend your time in retirement.
  • Step 5 - Finally, you can add in all the other expenses like food, utilities, household expenses, and healthcare.

Leaving your comfort zone is always a bit scary

Remember that the type of life change that retirement brings can be scary. Any time you disrupt the status quo you leave your comfort zone. The good news is that if you start acting out your retirement plans and they don’t measure up to your vision, you can always change the plans. The trick is to develop a plan where you can pivot. With this Zero-Based Budgeting process, you can iterate as needed rather than being stuck with the same plan over the next 30 years.



  • [2:20] An HSA question correction


  • [3:52] How to create a retirement financial plan that encompasses your life goals


  • [19:50] Why Joelle volunteered to be the new Retirement Plan Live subject
  • [24:24] Joelle and her husband have different money styles
  • [29:38] How Joelle’s life was different living in L.A.


  • [37:42] Give yourself grace about beginning again

Resources Mentioned In This Episode

Register for the Retirement Plan Live webinar on January 27 at 7 pm CST

LTCI Partners

Retirement Manifesto

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Work with Roger

Roger’s Retirement Learning Center

Direct download: RAM416.mp3
Category:general -- posted at: 2:00am CDT