Retirement Answer Man

Are you ready to make the most of the life you have? I’m Roger Whitney and I’m here to help you do exactly that - not just for your retirement years, but for your entire life. On today’s show you’ll have the opportunity to dive into all kinds of good stuff, including my weekly happy lab, hot topics, practical planning tips, and the top 6 mistakes I’ve seen retirees make during their retirement years. You’ll get a lot of great tips from this episode so I hope you take time to listen.

Why are you working so hard?

I’m the last person to say that you shouldn’t work hard. Hard work is one of the hallmarks of living a responsible life. But it’s interesting to note that we often get out of balance when it comes to work. We invest too much of our identity and worth in what we do, to the exclusion of more important things. On this week’s Happy Lab I’m going to give you a couple of suggestions about balancing that for the sake of your happiness - both now and in your retirement years.

Being “present” is one of the greatest gifts you can give your family.

If you’re going to make the most of your life now and in the future, you need to realize that one of the biggest components of the happy kind of life you want is the quality relationships that you develop over the course of your life. Naturally, that includes your family and the friends you meet along the way. It’s important, for the sake of those relationships, that you learn how to put down your smart phone, disconnect from work, and be present for the people who are closest to you. It’s a decision you have to make and stick to and on today’s episode of The Retirement Answer Man I’m going to give you some thoughts to ponder along that line.

Why you need to learn from the mistakes of others - before you retire.

We all make mistakes, and we should be learning from them when we do. But as you near retirement a lot more is riding on you making the right choices simply because you have less time to make up for the mistakes and adjust your course. On this episode I outline the top 6 mistakes that I’ve seen retirees make over the course of my retirement planning career, in hopes that I can give you a heads-up about the pitfalls ahead so that you can adjust your mindset, prepare for what’s coming, and make wise decisions now, before you retire.

Should you be maximizing your wealth?

That may sound like a an odd question. Don’t we always want to maximize wealth? Prior to retirement, yes. But once you hit retirement your mindset needs to adjust. Retirement is the time of life that all your wealth maximization effort were aimed toward. It’s the time for you to benefit from all those years. But it’s not an easy transition to make and the adjustment can be more than a little uncomfortable. On this episodes Practical Planning segment I’m going to walk you through this one and help you make some mental notes that will help you enter retirement with the right mindset and approach so that your retirement years can be some of your happiest yet.


  • [0:45] Welcome to this episode!


  • [2:31] People about to die often wish they hadn’t worked so hard. Really?


  • [6:16] The task of being “present” with those you are with (kids, spouse, etc.)


  • [7:58] Jobless claims and the participation rate are improving.


  • [9:42] What are “Fund Flows?”
  • [11:40] Understanding Fund Flows is important to understand for long term investors.
  • [15:01] The Fund Flows of U.S. equity strategies over a 5 year period.


  • [16:54] Learning from the mistakes of others.
  • [19:48] Why learning from others’ mistakes during retirement is so important.
  • [20:14] Don’t neglect your spending plan (budget).
  • [22:47] Is wealth maximization the right focus for a retiree?
  • [27:38] Do you really need to support those adult children?
  • [29:55] Is that big home still necessary?
  • [32:10] The ostrich is the only one who should have his head in the sand.
  • [34:34] You’ve got to learn not to run for the exits so quickly.



Contact Roger:

Roger’s retirement learning center:

The Retirement Answer Man Facebook page:

Hot Topic link:

What Does That Mean Link:

Direct download: RAM116.mp3
Category:general -- posted at: 6:00am CDT

Should I rollover my 401(k) to an IRA? Most advisors say yes, but It’s not always the best idea. In this episode we share what you should consider to make the choice that’s right for you.

Listen to the Audio



Happy Lab 

Over the last few weeks we’ve been reviewing the top 5 regrets people have at the end of their life.

Here's the list so far;

#5: I wish I had allowed myself to be happier

#4: I wish I had stayed in touch with my friends

And this week, #3: I wish I had shared my feelings more.

S.M.A.R.T. Sprint 

Stay connected with people you care about. In the next 7 days, call a friend you haven’t spoken to in awhile.

What’s That Mean?? 

Style Drift.

Why do you buy an investment strategy? The obvious question is to make us money. But one investment strategy is typically part of an overall portfolio is designed to work together. Each piece of the portfolio (or asset allocation) has a role to play. Much like each contractor used to build a house does. The plumber, put in the plumbing. The landscaper, puts in the landscape. And so forth.  As long as they execute their roles, you can get a great house (or portfolio). If, however, the plumber starts to putting flowers in your pipes you may not notice right away, but you’ll have a problem. Likewise, if that small cap strategy starts buying large caps, you won’t notice at first but eventually you’ll have a different experience than you bargained for. That’s style drift.

It’s the same with your portfolio. Each investment strategy has a role to play. 

Hot Topic This Week

Last week major world oil producers met in Qatar to discuss a production free. News of the upcoming discussions helped stabilize oil markets in recent weeks. Unfortunately, as expected, they were  unable to come to an agreement.  We'll discuss the possible implications it could have global equity markets.

Practical Planning

On this week's show we answer listener questions including:

•Does it matter when I rollover my 401(k) to an IRA? What should I consider when making this decisions?

•When designing a balanced portfolio, should I count my company pension plan (which gives me $100,000 a year) as part of my bond portfolio?

•In retirement, is retail income considered earned income? Would rental income factor into whether my Social Security would be taxed?

Have a retirement question you’d like answered? Ask it here!

Direct download: RAM_4.19.16.mp3
Category:Investing -- posted at: 4:18pm CDT

If you're investing for a great retirement, the state of the world economy can have a big impact on your success. This week, we go around the world updating you on Asia, Europe and the Americas.

Listen to the Audio


In This Episode We Cover

Happy Lab 

“I wish I had stayed in touch with my friends” is #4 on the top 5 list of regrets people have at their death. Make sure you invest in your relationships. Close friends will make your retirement more fulfilling. Don't lose touch with them. 

[bctt tweet="Let's face it. #Friends make life a lot more fun. Keep yours as you grow old." username="@roger_whitney"]

S.M.A.R.T. Sprint  

Stay connected with people you care about. In the next 7 days, call a friend you haven’t spoken to in awhile. I'll admit, I'm not the best at this. It's something I'm working on. 

What’s That Mean??  

Fiduciary is a term we’ve seen in the press a lot lately. If your advisor is a fiduciary it means they are legally required to give advice in the client’s best interest and disclose any conflicts of interest. You may not realize that when you work with an advisor on a commission basis, they don't have a legal duty to recommend investments in your best interest. Here's a great definition from Investopia.

[bctt tweet="Learn why you want your advisor to be a #fiduciary" username="@roger_whitney"]

Hot Topic This Week reported last week that the Department of Labor’s released new rules for Financial Advisors who serve retirement accounts.  The new rules could change the way you work with advisors to create a great retirement.

Practical Planning 

Briana Giuliano, CFA, Senior Strategist Brandywine Global Investment Management and I go around the world to explore current economic conditions in Asia, Europe, and the Americas. We also discuss the potential benefits and risks of investing internationally in bonds and stocks.

Ask a Question

Have a retirement question you need answered? Ask your retirement question below and I'll respond personally.

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Direct download: RAM_4.11.16.mp3
Category:Finance -- posted at: 6:31pm CDT

Thank you for joining me on The Retirement Answer Man show today. I am Roger Whitney and I am truly blessed to know that you are interested enough in this podcast to track down this show notes page. On this episode of the show we are going to focus in on happiness, the things that keep us from it, the things we can do to maximize it in our retirement years, and how personality assessments can help us to be a happier person. That’s a lot to promise but I’m certain you won’t be disappointed, so take the time to listen.

The top 5 regrets people have in old age.

I recently read an article that was written by a woman who has worked with aging and elderly people for many years. In her experience she’s heard many older people express regrets about their lives - the “I wish I had” statements that none of us want to be true of us when we reach our golden years. In the “Be Happy” segment today and over the next 4 weeks I’m going to cover the top 5 things she mentions and give you some tangible steps you can take to ensure that you are not living out your older years with the same regrets!

“Rich Dad” Author Robert Kiyosaki is STILL predicting a market meltdown this year!

It was in MarketWatch this week, a follow up to Robert Kiyosaki’s prediction a few years back that by 2016 the economy will crash. Robert’s a respected figure in the financial industry. Many people just love his perspective and approach to building wealth. What should we think about situations like this when a well known and well respected person predicts such dire things? As you might suspect, I have some opinions about this kind of thing and share them with you on this week’s “Hot Topic” segment of the show. I hope you find my thoughts valuable.

Have you heard anyone “Talking Their Book” lately?

You may have and not realized it… that’s because “talking your book” is a phrase that makes total sense once you know what it means, but if you don’t - well, you’re going to be scratching your head a bit when you hear it. “Talking your book” is a phrase used to describe someone who is talking right in line with their philosophy about the subject, and even in a way that promotes their philosophy or approach above others. As I unpack the term on this episode I’m also trying to help you develop a healthy and balanced approach to understanding what’s going on when others are talking their book. It’s all on this episode.

Did you know that a good personality assessment could help you make better financial choices?


It’s true. When you know your own personality better and are able to understand your tendencies when it comes to making decisions, dealing with money, and how you view the prospects of the future, you’ll have a clearer idea of how to handle the decisions that come your way day in and day out. On this episode I’m chatting with my friend Jill Davis who is a DISC assessment practitioner and avid proponent of personality assessments. You’ll find the conversation fascinating and helpful.


  • [0:31] My welcome and introduction to this episode of the show.


  • [2:44] My 5 week experiment: The top 5 regrets people have in old age.
  • [4:03] Regret #5: People wish they had let themselves be happier.


  • [5:52] This week’s S.M.A.R.T. sprint: Write a journey each day recapping the highlights of your day and identifying habits that have prevented your happiness.



  • [8:15] Robert Kiyosaki has predicted a 2016 stock market collapse.
  • [9:48] What should you do in light of articles like this?
  • [13:12] Huge predictions like this need a more well-rounded perspective.
  • [13:35] Remember that these predictions are focused as a promotional piece around someone’s brand.


  • [14:17] What does it mean when we say, “Talking your book?”


  • [16:03] Jill Davis is my guest today - an expert in personality assessments.
  • [17:13] Why would anyone want to do a personality assessment?
  • [19:08] The reason for finding clarity about your personality.
  • [19:28] What is the DISC theory of personality assessment?
  • [21:41] My results from taking the DISC assessment.
  • [22:29] How it’s good to have a partner who is opposite of you.
  • [24:03] Understanding others through a personality assessment.
  • [26:09] The benefits of couples and partners understanding each other’s personalities.
  • [26:58] The ways personality assessments can be misused.
  • [29:20] How personality impacts communication and sharing.
  • [31:57] How to connect with Jill.


RESOURCES MENTIONED IN THIS EPISODE - Jill’s website AND Jill(at)JillDavis(dot)com

The MarketWatch article by Robert Kiyosaki - Find out more about retirement plan live!

Contact Roger:

Roger’s retirement learning center:

The Retirement Answer Man Facebook page:

Direct download: RAM113.mp3
Category:general -- posted at: 6:00am CDT