Retirement Answer Man

We learned in the first episode of Retirement Plan Live that Joelle and her husband Mike had moved to a new area to pursue their retirement dreams. Joelle and Mike are now learning how to build community and purpose in their new home. Listen in to learn how Joelle plans to make social connections and find purpose in retirement as she creates her new life.

The Rock Retirement Club is open

The Rock Retirement Club will be open for enrollment for ten days starting on 1/27. If you have been thinking about joining, this is the right time to act. 

We have implemented this short-term enrollment window so that new members can make connections with each other while working to build their retirement plan of record. This way, RRC freshmen can come in as a cohort and fully participate in their membership by taking full advantage of everything that the club has to offer. New members will participate in meetups and have access to the masterclass, retirement planning tools, and the private RRC podcast. 

Even if you are too late to join this enrollment, fill out the application and get on the waiting list so that you will be first in line when enrollment opens again. 

What will Joelle do with her time in retirement?

Once you finally reach retirement you have to figure out what to do with all of your time. When Joelle moved to her new home in Washington she knew that she would need to find a way to fill 40 hours of her time that was previously spent working. 

Joelle has found a new yoga and pilates class to keep fit and connect with others and through these exercise classes, she was even able to connect with a hiking group. 

Exercise and connecting with others are important components of retirement. However, finding a purpose in retirement is even more important. Joelle understands that the success of her retirement hinges on finding a purpose which is why she sought out a nonprofit organization to volunteer with shortly after moving to her new home. Listen in to hear how Joelle found this organization and what she plans to do with her time in retirement.

Making friends in a new place

Moving to a new place can be challenging and when you do so upon retirement it is important to get involved in the community. Without workplace interactions, making friends is even more difficult than in the working years. Joelle has thrown herself into participating in her new exercise classes and volunteering with the nonprofit organization. Although she still doesn’t have anyone that she can truly call a friend, she has several acquaintances with whom she is looking forward to making a deeper connection.

Do you have any strategies for making friends in a new place? How will you expand your friendship base in retirement?



  • [1:30] What will Joelle do with her time in retirement?
  • [10:18] Making new friends can be a challenge
  • [16:09] Volunteering will give her a sense of purpose


  • [19:13] Greg is worried that the Social Security system will run out of money
  • [25:04] Strategies to improve the longevity of the Social Security system
  • [27:20] How to find a retirement financial planner
  • [29:58] Roth conversions vs. earned income
  • [30:53] Where to find a retirement plan of record template
  • [32:14] Using human capital and financial capital to retire early and receive ACA credits
  • [36:07] Health savings account beneficiaries


  • [38:44] Think about your strategy to create community and connections in retirement

Resources Mentioned In This Episode

BOOK - How to Begin by Michael Steiner Bungay

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: RAM419.mp3
Category:general -- posted at: 2:00am CDT

As you embark on your retirement journey, life’s question changes from what can you do to what will you do? You have so many choices that are available to you that the question of what to do next can be daunting. I explore these questions with Michael Bungay, author of the new book, How to Begin

Michael’s interview isn’t the only thing that’s in store for you today on the Retirement Answer Man show. This is the third installment of Retirement Plan Live with Joelle. Last week Joelle shared her dreams for retirement, so today we crunch some numbers to see how she will create her retirement paycheck. Make sure to sign up for the webinar on January 27 to see whether Joelle’s retirement will be feasible. 

What will you do next?

Often in midlife, you reach a crossroads where you have to decide what’s next. At this age, you have experience, contacts, and resources which opens a wealth of opportunities. So, how can you figure out what you should focus on in your next chapter? Think about what will bring out the best in yourself.

Should you create You+ or You 2.0?

Michael likes to compare this process of reinventing yourself to technology. You have the choice of creating You+ or You2.0. 

You+ is like getting a new app on your phone. It will improve your life for a while, but then you begin to plateau and you have to think about what is next. You 2.0 is like getting an entirely new operating system that can last for decades. Take this time to think about what your You version 2.0 will be. 

Michael’s book, How to Begin, lays out the process to help you figure out how to create You 2.0. You’ll learn how to set a worthy goal and make a difference that lights you up all while moving you towards the edge of what is possible. 

How to begin the process with fresh eyes?

Systems start breaking down once you reach the next level in anything that you do. The same holds true for reinventing yourself. To begin again you need to start by thinking about who you are so that you can set a worthy goal. Your first guess won’t be the best one, but as you work through the process it will help you to polish and refine your goal. 

The next step is to commit. Before you commit yourself to your goal, you’ll want to weigh your choices. Think about the prizes and punishments for completing or not completing your goal. 

Finally, it is time to make progress on your worthy goal. Goal setting is a challenging process, that is why it is important not to waste your time on the wrong goals. Your goals should be important to you and make the world a better place. What impact do you want to make on the world? 

If you are trying to figure out who you will become in the next phase of your life, check out How to Begin by Michael Bungay to help you get started. 



  • [3:37] Joelle feels content with her retirement dreams
  • [7:18] Looking at Joelle’s social capital
  • [12:40] Joelle won’t have any human capital
  • [16:16] Let’s look at Joelle’s financial capital


  • [25:25] Who is Michael Bungay?
  • [29:36] Michael’s second mountain
  • [32:50] The difference between Michael+ and Michael 2.0
  • [35:38] How to begin the process with fresh eyes


  • [53:46] Challenge yourself to see whether you are improving yourself or can you reimagine a new operating system

Resources Mentioned In This Episode

BOOK - How to Begin by Michael Bungay

BOOK - The Coaching Habit by Michael Bungay

PODCAST - 2 Pages with MBS 

BOOK - The Second Mountain by David Brooks

BOOK - From Good to Great by Jim Collins

Erin Weed - The Dig

Retirement Plan Live Webinar January 27

LTCI Partners

Social Security Detailed Calculator

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: RAM418.mp3
Category:general -- posted at: 2:00am CDT

Welcome to the second installment of Retirement Plan Live. This is the episode where we run the initial numbers for Joelle’s retirement. We’ll walk through the 3 categories to define Joelle’s base needs, wants, and wishes and put number values to each of these areas. 

In addition to the interview with Joelle, you’ll hear listener questions about how to feel comfortable about retirement, converting 401Ks to Roth IRAs, and how my personal journey finding health insurance has turned out. 

As a bonus, you’ll hear an interview with Joe Saul-Sehy from the Stacking Benjamins podcast who has written a new book called Stacked. Listen in to hear if it is worth the read. 

Check your email this weekend to receive a free retirement planning worksheet

If you are following along with Retirement Plan Live and creating your own retirement plan, make sure that you are signed up for the 6-Shot Saturday weekly newsletter. In this Saturday’s newsletter, you will receive a link to a simple worksheet that will help guide you through your own retirement plan the way that I am walking through Joelle’s retirement plan. 

6-Shot Saturday is full of tips, news, listener questions, and more, straight from the Retirement Answer Man to your inbox. Simply head on over to, scroll down to the bottom of the page, and enter your name and email address to sign up. 

Financial behavior is at the heart of all money management issues

Have you ever listened to the Stacking Benjamins podcast with Joe Saul-Sehy? If so, you’ll want to check out his new book, Stacked. If you haven’t heard his podcast, check it out on your favorite podcasting app. Joe joins me today to discuss why he wrote his new book, how he wrote it, and why it’s important. 

Did you know that 150 million Americans have cried about money? This number doesn’t only include people who live paycheck to paycheck, people who earn more are also concerned about money. These people aren’t crying about the loss of the mega backdoor Roth or cryptocurrency. They are crying about their financial behavior.

Many people who are educated about money and finances still struggle with their financial behavior. Mastering your finances isn’t about what you know, it's about what you do. 

Stacked helps readers take action to improve their financial situation

Traditional finance books often overcomplicate finances or hype certain complicated financial strategies. Stacked helps readers understand what they should be thinking about when it comes to financial matters and why they should think about them.

Since Joe discovered that people need actionable items to complete to successfully change their financial behavior he decided that his book should help readers change their financial behavior through action. The book is based on achievements that are built on micro-actions. Its format is award-based, similar to the way that many educational apps gamify learning. 

Joe begins financial planning with the end in mind

Joe’s book begins with the end in mind. It is goal-based and helps readers create a timeline to put their goals in perspective. Since most of us are visual learners, the book helps to plot things visually so that readers can begin to work on their financial problems. 

As you read, you’ll be able to visualize your goals so that you can put a list together to understand what you truly value and how that applies to your financial plan. Check out Stacked if you are interested in a light-hearted approach to a serious subject matter that gives you actionable items to get you closer to your financial goals. 



  • [3:04] Joelle’s base spending needs
  • [8:50] Joelle’s future expenses
  • [20:25] Budgeting will be a new experience for Joelle and her husband
  • [23:49] Joelle’s aspirations
  • [29:35] They plan to age in place


  • [34:25] A 401K to Roth transfer question
  • [38:39] How to help Tracy’s husband retire again
  • [43:04] My health insurance journey
  • [46:10] Reverse mortgages


  • [47:09] Money management can be stressful
  • [51:22] How Joe wrote his book
  • [59:23] Begin with the end in mind
  • [1:07:00] Joe’s goals for his book


  • [1:10:19] What will you wish you would have done at the end of this year?

Resources Mentioned In This Episode

BOOK - Stacked by Joe Saul-Sehy

BOOK - How to Begin by Michael Bungay Stanier

BOOK - Half Time by Bob Buford

BOOK - The Second Mountain by David Brooks

PODCAST - Stacking Benjamins with Joe Saul-Sehy

Powell’s Books

Direct download: RAM417.mp3
Category:general -- posted at: 2:00am CDT

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