Retirement Answer Man

Indexes are comprised of many companies. Yet only the top few companies drive the index. What happens if we hit a rocky patch in the markets and those companies falter? On this episode of the Retirement Answer Man, I dive into the pros and Cons of investing passively v.s actively and what might happen if a Bear Market does indeed come.

Bear Markets might be bad news for your Retirement.

A Bear Market is a self-sustained drop of the market and if one of these shifts does happen, it might impact your ability to retire. Passive based investing becoming very popular nowadays, but if the majority of your strategy is comprised of these kinds of investments you might be in for trouble if a Bear Market shift happens before or during your retirement. A shift like this would affect the big companies in the major indexes, causing the index to drop. A drop like this could negatively affect your investments. You could always wait for things to stabilize but you may not have the luxury of waiting. In this episode of Retirement Answer Man, I’ll give you a rundown on what you can expect in a Bear Market and how you can act wisely to mitigate your risk.

Passive based investing is sweeping the nation.

What is passive based investing? Well, whatever it is it makes us more than %40 of the nation's investments. In this episode of Retirement Answer Man, I’ll dissect the differences between active and passive based investing and which one might be the best for you and your retirement. I also talk about how a market downturn affects them and what steps you can take to be safe.

Should I use my raise to pay off debt or add to my investments?

A raise can make your year! Not only does it say “good job” it gives you options to change aspects of your lifestyle, investment strategy or even the lives of someone you know. There are many things we could do with a raise.  You could spend it, invest it, pay down debt to free up future cash, or even give a gift to someone in need. In this episode of Retirement Answer Man, I’ll expound on the options a raise make possible and give you a framework for deciding what is the financial priority in your life.

I’m looking to work with a retirement advisor, what red flags should I look for?

On this week’s episode of Retirement Answer Man a listener writes in with a question about an advisor he is looking to work with. The advisor has worked for many firms and not stayed long at any one. Is this a red flag? Should he be worried? Tune in to this episode to hear my thoughts and get tips for asking your advisor the right questions.



[0:26]  Would you like to place a wager against Warren Buffett?

[2:00] Should we all switch to passive investments?


[2:59] Passive based investing is taking over the investing world.

[4:47] Does passive make the market more or less efficient?

[5:33] Passive investing is driven by the “hot” sectors of the market.

[6:50] Jim Rogers says Bear Market is coming!

[8:50] We are down to the wire in Retirement, there is no more time to wait.


[12:27] Should I allocate my raise into my investments?

[14:50] What should I do with a raise?

[17:50] How does unstable politics affect my investment strategy?

[19:58] Ed’s question about advisor research.

[24:40] Think of an advisor as an investment. How can you have the best returns?

[28:50] Should I pay off debt or fund a 401K?


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Direct download: RAM189.mp3
Category:general -- posted at: 6:00am CDT

Have you ever had your identity stolen? I have. It’s not fun. It can leave you feeling helpless and frustrated as you try to prove who you are and undo the false financial claims against you. In this modern era data is everything. Your life is wrapped up in one 9 digit code, your Social Security Number. If someone were to get that number they could open credit cards in your name, access your life savings, and even take out a mortgage. While the dangers are high, there are effective ways to protect yourself and your assets. I will outline some of the most effective ones in this episode of the Retirement Answer Man.

Equifax has been breached by hackers

Equifax has been breached by hackers. Almost 60% of the American population’s cyber data is in the wind. For many of us, this is a fearful thing. We have spent our whole lives planning for our future. As we draw near to retirement we can see the light at the end of the tunnel as all our hard work starts to pay off. Identity theft could put a serious damper on those retirement plans and could take years to recover from. Luckily, you are not at the mercy of these hackers. There are steps you can take to ensure that your data stays safe. Listen to this episode of Retirement Answer Man to hear my simple steps to guard your identity.

5 simple steps to guard your identity

With the daily increase of cyber threats facing our modern world, it is essential that you know what to do if your information is compromised. Over 100 Million Americans were affected by the Equifax breach. Odds are you are probably one of them. It’s never too early to take offensive steps to make sure your credit is monitored and you will be alerted to any suspicious activity.

Is new technology all it’s cracked up to be?

Apple has just announced the release of a few new devices, an Apple watch that can be used as a cell phone and the new I Phone X. The ads for these devices portray them as just what you need to fill the technology gap in your life. Having the new I Phone will make your life easier, safer, and on the cutting edge. Are these claims true? Think back to the last time you got a new device. It feels great and it’s exciting, but after a few days or a week, the excitement fades away. It becomes normal. Did it really bring you joy? We might be better off searching for joy in an area that doesn’t put a dent in our bank account.

Don’t let your identity fend for itself.

I’ve created a Free Credit Breach Protection Plan that you can find on my website. It gives simple instructions to help you take steps to protect yourself, your assets and your loved ones. Don’t wait until it’s too late, be proactive and protect what you have worked so hard for. Don’t miss this episode of the Retirement Answer Man.


  • [0:25] Have you ever had your identity stolen?
  • [1:50] It can be difficult to regain your footing after an id breach.


  • [3:47] Hackers infiltrated the Equifax database.
  • [4:20] The information of 60% of the American population has been compromised
  • [5:49] There's a way you can know if you have been affected by this breach.
  • [6:00] What does this mean for me?


  • [8:24] Protecting yourself without becoming a cybersecurity expert.
  • [9:18] Credit Protection Action Plan
  • [9:50] 5 Basic ways to protect your cyber data.
  • [14:24] The best ways to respond to this data threat.


  • [21:39] The new Iphone X
  • [22:08] The “new” is overrated


  • [23:45] Download the Free Credit Breach Action Plan
Direct download: RAM188.mp3
Category:general -- posted at: 6:00am CDT

My listeners have been asking great retirement questions, and this podcast episode is focused on giving answers to some of those. I’m excited today to bring on my awesome sidekick, Nichole, to play the part of the listener and ask the questions. One really important question is whether your financial advisor should have access to your 401(k), including your username and password. While this can be convenient for you and for your advisor, it’s not a good idea and is typically not allowed. Listen to today’s episode to find out why.

Important differences in spending cycles for single and two-person households

Spending habits change for people, depending on age and household size. The changes in spending habits are important for each household to understand, because they affect planning for retirement. In the Hot Topic section of this episode, I explain why the changes are quite different for single and two-person households, and how each needs to consider how this affects their retirement planning. Listen to find out how spending cycles might affect your household and hear answers to other retirement questions, and then follow up with today’s Smart Sprint and get clear about your financial needs in retirement.

Should I lower 401(k) contributions to build up my emergency fund and college savings?

Bill is 59 ½ and has all his savings in his 401(k). He puts in 9% with an employer match of 3% and has a son going to college. His retirement question is whether he should lower his contribution to 6% to start building his emergency fund. On this episode, I explain several reasons why it would be a good idea to lower his contributions even further to give him more flexibility in how he makes financial decisions, and Nichole and I have a conversation about whether or not parents should cover college expenses from their retirement account and what other options might be available.

When thinking about jobs for pre-tirement, be sure to consider the work environment

Mark Miller at sent in a helpful comment about pre-tirement jobs. He suggests that people carefully consider the physical aspects of the job, such as whether their body can handle walking on cement floors all day. There is also a concern for retirees working in retail environments where the schedules are not given with advanced notice, which creates problems for the time-freedom someone might be expecting in pre-tirement. On this episode, you can hear the details about these considerations, and also get answers to other retirement questions.

Listener ideas for pre-tirement

Quite a few listeners have chimed in with comments or questions about the pre-tirement episode a few weeks ago. On this episode, we’ll take another look at the math from that show, and demonstrate how numbers significantly lower than the ones we used can still work for you. We’ll also hear the ideas that various listeners have for jobs they would like to do in pre-tirement. Listen in to hear their thoughts and also get answers to other listeners’ retirement questions.


  • [0:00] Equifax data breach. Action plan - six steps you can take to minimize credit fraud and stay vigilant.
  • [1:02] To get to great, you have to blow up what’s good!
  • [1:44] Intro this episode - listener questions with Nichole Mills.
  • [2:49] Disclaimer - Don’t take financial advice from me on this show. This is tips and education.


  • [3:12] Important differences in spending cycles for single and two-person households.


  • [7:17] Bill’s question: Should I lower my 401(k) contribution to start building my emergency fund?
  • [9:47] Should parents consider covering college expenses with their retirement account?
  • [11:47] Should my advisor have access to my 401(k)?
  • [14:08] Mark Miller: When thinking about jobs for pre-tirement, be sure to consider the work environment.
  • [16:16] John: Is the math in the pre-tirement episode a little high to be realistic?
  • [18:36] When is your book coming?
  • [19:26] Ideas for pre-tirement jobs from Michael, John, and others.


  • [21:51] You can even make a commute happy as long as you are intentional about it.


  • [23:33] 7-day goal: Dial in what your financial needs are for retirement


Free Credit Action Plan for those affected by the Equifax breach

Episode #183 - How PRE-tirement could save your retirement

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Work with Roger (now accepting new clients)

3-Video Series: 5 Minute Retirement Makeover

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Direct download: RAM187.mp3
Category:general -- posted at: 6:00am CDT

#186 - Retirement Travel - One Way to Fund Your Dreams

Do you have dreams for traveling in retirement? Everyone’s dreams are different, but every dream is going to cost some money. On today’s episode of The Retirement Answer Man, my friend Jamie joins me to talk about one creative way to fund your travel dreams. Discover how you can use your home to produce income when you’re not there, so that you can enjoy your travels. Learn what a sharing economy is and how it can benefit you and fund your dreams for retirement travel.

What is a sharing economy, and how can it help fund my retirement dreams?

A sharing economy is an economic system in which assets or services are shared between private individuals for a fee. Uber is one example. AirBnb and VRBO are systems that can work for you to fund your retirement travel by renting out your house, earning money when you are not there. It allows you to monetize your home as an asset to fund your retirement travel dreams. My friend Jamie has had great experience with AirBnb, and joins me on today’s podcast to discuss how it works.

The benefits of renting out your home while you travel

Renting out your home to fund retirement travel takes a bit of preparation and work. But the benefits are worth it. Not only do you create income while you are away, but you also have someone staying in your home without paying a house-sitter. And, in my friend Jamie’s experience, you have the opportunity to build clients and become friends with repeat guests. Listen to today’s podcast episode to hear Jamie’s story of how renting out their home has benefitted his family.

How to prepare your home for rental when you are away

Sharing your space with other people may seem overwhelming at first. But you can start small and acclimate to the process as you go. To get started, check your local listings on AirBnb and VRBO to see what is available in your area and what the prices are. On this episode, my friend Jamie describes some of the things he has done to prepare his family’s home to be shared. From buying fresh linens to learning how to effectively advertise his home, Jamie’s insights will help you get started on this new adventure.

How do you vet who will stay in your house when you rent it out?

Many people have concerns about renting their home to strangers. But my friend Jamie’s experience is that people will actually take very good care of your home. On this episode, Jamie shares how he has found that the way you advertise your property and the price you set has a lot to do with who will rent it. Listen in to hear Jamie’s perspective on getting the right clients to rent your home and getting the best price for your rental as well.


  • [0:27] Regardless of what your dream is, you will need a way to fund it.


  • [5:06] What is a sharing economy?
  • [6:23] In terms of funding retirement travel, how might the sharing economy help you?


  • [10:46] My friend Jamie’s vacation experience in Mexico, and how he funded it.
  • [17:24] How to prepare your home for rental when you are away.
  • [19:30] How do you vet who is going to stay in your house?
  • [20:29] If you’re going to rent out your house, how can you get top price?
  • [23:55] How renting out your house opens up possibilities of owning a second home.
  • [24:58] You can rent our your home even just once or twice a year.
  • [26:58] Building clients and return guests.
  • [27:58] What are the downsides of renting out your home?
  • [29:21] What are the next steps to get ready to rent out your home?


  • [30:52] Blow up what is to start working towards what could be.


  • [31:46] Plan a weekend trip and rent something on AirBnb or VRBO.






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Work with Roger (Currently accepting clients)

3-Video Series: 5 Minute Retirement Makeover

Roger’s retirement learning center

The Retirement Answer Man Facebook page

Direct download: RAM186.mp3
Category:general -- posted at: 10:17am CDT