Retirement Answer Man

Reimagining life after widowhood can be challenging. In the beginning, it may seem like something that is impossible to imagine. Even if life seems insurmountable at the beginning, it is crucial to remember that someday you will be able to enjoy life again. Just not yet. Yet is an important word. Yet helps you understand that things will not always be as they are now. Today you’ll learn how to change your mindset from I can’t do this to I can’t do this yet. 

On this episode of Retirement Answer Man, you’ll hear wisdom from those who have traveled this same journey. They open up and share their financial and nonfinancial experiences. You’ll hear what has helped and what hasn’t, their challenges and triumphs, and how they have learned to power through and begin to create new dreams.

Listen in to hear these brave widows share their stories so you can understand that a new life after widowhood isn’t impossible. The power of yet can change your mindset and help you rebuild your dreams. 

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

WIDOWS LIVING A GREAT LIFE

  • [3:20] Emma has had difficulty navigating the nonfinancial side of widowhood
  • [9:30] It has taken time to reimagine her goals
  • [11:20] Insights from the financial side
  • [17:03] Mary needed time to grieve
  • [23:00] How Mary managed the project
  • [25:12] The nonfinancial side of widowhood
  • [28:20] The financial side of widowhood
  • [35:15] A new widow’s perspective

TODAY’S SMART SPRINT SEGMENT

  • [42:40] Think about how you can use the word yet to envision what is yet to come

Resources Mentioned In This Episode

BOOK - Getting Grit by Caroline Miller

Everplans

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM480.mp3
Category:general -- posted at: 2:00am CDT

Nobody wants to face life as a widow or widower. However, it is an unfortunate reality that many must face. Successfully navigating widowhood could be easier if you could prepare yourself in advance. In this Widowed in Retirement series, we aim to do just that. 

Today you’ll learn how you can start life again on your own. Mark Trautman joins me again to discuss his experience moving forward after the death of your spouse. He touches on prioritizing actions to take, setting up a summarized retirement plan, and rebuilding your life as a single person. 

While we didn’t have time for Listener Questions today, we have a bonus interview with Chris Bentley from Wings for Widows as well as a chat with Lori Mage in our Bring It On segment.

Listen in to learn what you can do to rebuild your life and begin again.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT A CHAT WITH MARK TRAUTMAN

  • [5:16] Our time is finite - make use of it
  • [7:42] Could people have reacted better?
  • [10:55] What were short-term actions
  • [18:02] A retirement plan summary document
  • [20:39] Going forward

A CHAT WITH CHRIS BENTLEY FROM WINGS FOR WIDOWS

  • [23:04] How he decided to create Wings for Widows
  • [31:52] Working with the financially illiterate 
  • [38:02] How to plan for widowhood

BRING IT ON WITH LORI MAGE

  • [41:02] On relationships
  • [43:33] What Lori did to build a relationship with herself

TODAY’S SMART SPRINT SEGMENT

  • [50:30] When you mess up say it was a mis-take

Resources Mentioned In This Episode

Lori Mage

Heroic App

Wings for Widows

Foundation for Financial Planning

BOOK - The Leadership Challenge by James Kouzes

BOOK - After the Death of Your Spouse by Mike Piper

BOOK - Option B by Sheryl Sandberg

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM479.mp3
Category:general -- posted at: 2:00am CDT

If you are married, chances are you or your spouse will have to suffer through widowhood. The Widowed in Retirement series aims to help you navigate this difficult transition as best you can. Today, Mark Trautman joins me again to discuss how to work through the huge financial changes that result from losing a spouse. 

There are myriad financial considerations to be aware of during this change, so this may be an episode that you want to bookmark to refer back to later or send to a friend in need. Press play to listen.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

  • [3:26] A common myth of widowhood
  • [5:11] What changes occur when you go from two to one
  • [9:27] Expenses don’t change
  • [16:44] Creating a new financial plan
  • [20:20] Tax planning
  • [25:25] Social Security benefits

LISTENER QUESTIONS

  • [36:55] A 59 ½ IRA withdrawal rule question
  • [38:52] How to calculate the 5-year rule for a Roth IRA
  • [40:27] How to handle the cash bucket in a down market 
  • [45:03] Healthcare before Medicare

BRING IT ON WITH MARK ROSS

  • [49:11] What is passion?
  • [51:23] How to explore your passions
  • [55:15] Building boundaries around your passions so they don’t become work

TODAY’S SMART SPRINT SEGMENT

  • [58:45] Put dabble on your calendar

Resources Mentioned In This Episode

BOOK - After the Death of Your Spouse by Mike Piper

BOOK - Taking Stock by Jordan Grumet

BOOK - AARP Checklist for My Family by Sally Balche Hurme

BOOK - So Good They Can’t Ignore You by Cal Newport

BOOK - How to Think Like Leonardo Da Vinci by Michael Gelb

Everplans

Episode 477 - Navigating Life Changes

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Roger’s Retirement Learning Center

 

Direct download: RAM478.mp3
Category:general -- posted at: 2:00am CDT

Even though it is difficult to think about it, at some point, those of us who are married will have to think about one of you transitioning from two to one. 

This week we’re exploring the nonfinancial impacts of this transition with someone who has walked this journey. Rock Retirement Club member, Mark Trautman shares his personal journey through his life-changing experience. 

Mark shares the challenges and the tools that have helped him get through this heartbreaking part of his life so that he can move forward and rock retirement on his own. 

After the main segment, you’ll hear our listener questions and then we’ll Bring It On with Dr. Bobby Dubois. Dr. Bobby will help us understand why sleep is so important and what we can do to improve the quality of our sleep. Don’t miss out on this important episode. 

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

  • [3:27] The more open you are the more you can deal
  • [7:58] What you lose when you lose a spouse
  • [11:38] Redefining goals after widowhood
  • [16:23] Dealing with grief
  • [21:33] Building community 

LISTENER QUESTIONS

  • [31:20] My response to a scathing review on Retirement Plan Live
  • [34:54] Another Retirement Plan Live review
  • [37:28] How to replenish funds 
  • [44:48] A question about Rosie’s HELOC loan
  • [46:31] Insight on huzzah!

BRING IT ON WITH DR. BOBBY DUBOIS

  • [48:41] Why is sleep so important
  • [51:52] How to improve sleep
  • [58:33] How to get to sleep
  • [1:04:30] Dealing with chronic pain and sleep

TODAY’S SMART SPRINT SEGMENT

  • [1:14:59] Use Bobby’s tips to experiment with your sleep

Resources Mentioned In This Episode

Examine.com

BOOK - Why We Sleep by Matthew Walker

Leeds sleep evaluation questionnaire

BOOK - Taking Stock by Jordan Grumet

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM477.mp3
Category:general -- posted at: 2:00am CDT

If you have been listening to this show for a while, chances are you already know how to rock your retirement. However, this can all change with the loss of a spouse. All of your best-laid plans change in an instant. That’s why this month we are focusing on going from two to one. 

Learn how to navigate your mindset–transition from this sucks, to how I will work through this, to having a great life. Press play to listen.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

  • [5:47] Announcements
  • [6:44] Books I read in February

LISTENER QUESTIONS

  • [11:46] Roth conversions and taxes
  • [17:31] Roth conversions or capital gains?
  • [23:10] How to create a paycheck between ages 62-72

BRING IT ON WITH KEVIN LYLES

  • [29:12] Finding meaning and purpose in retirement 
  • [38:52] Create a mission statement

TODAY’S SMART SPRINT SEGMENT

  • [41:05] Think about your mindset

Resources Mentioned In This Episode

Episode 310 - The Pie Cake

Andy Panko

BOOK - Traction by Gino Wickman

BOOK - Be 2.0 by Jim Collins

BOOK - Rethinking Positive Thinking by Gabrielle Oettingen

TV SERIES - SAS Rogue Heroes on MGM streaming

TV SERIES - Shrinking on Apple TV

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM476.mp3
Category:general -- posted at: 2:00am CDT

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