Retirement Answer Man

• What Life Expectancy Should I Use in My Retirement Plan?

   💬 Show NotesIn this episode, Roger Whitney tackles the critical question of life expectancy in retirement planning. With statistics from the CDC, he guides listeners through the complexities of determining how long they should plan for their retirement. Roger addresses the cognitive bias known as the "curse of knowledge," providing clarity on how to approach life expectancy assumptions. He also shares insights on the importance of using personalized data rather than general averages, and discusses practical tools for assessing longevity. Tune in for valuable advice that can help you plan confidently for your future!OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN(00:00) What life expectancy should you use in your retirement plan?(00:39) We have a change happening to our Six Shot Saturday email.(02:18) Roger discusses the concept of ‘The Curse of Knowledge.’(03:38) Listener, D.S., sends in a question about life expectancy in retirement.(05:58) Roger discusses how to interpret the data from the Social Security Administration life expectancy calculator.(9:30)  Roger uses age 92 for a male and 94 for a female for a base assumption in retirement planning.LISTENER QUESTIONS(11:26) Thrift savings plans will allow Roth conversion starting in 2026.(12:13) Karen asks about the pie-cake and the purpose of a 6 month emergency fund.(15:35) Karen asks a second question about suggestions for saving vehicles that are not US treasury bonds.(17:27) Evan asks “How does a pension figure into a net worth statement?”(22:00) Gene asks how to look at the total allocation of your retirement portfolio.(25:00) Roger reads feedback from listener Scott about last week’s episode.ROCKING RETIREMENT IN THE WILD (27:01) Scott has been helping federal employees think through their retirement plans.SMART SPRINT(30:42) In the next seven days, revisit the age you are going to use in your retirement plan.BONUS(31:12) Roger reads an entry from his grandfather’s WWII journal.REFERENCESRetirement Answer ManSign up for The Noodle (previously known as Six Shot Saturday)The Retirement Answer Man Free Worksheet LibrarySocial Security Life Expectancy CalculatorThe Retirement Researcher Show notes created by https://headliner.app 

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  32:47
• Should I Have Private Equity in My Portfolio?

  In this episode, we tackle the complexities surrounding private equity in retirement portfolios. Join Roger as he navigates a listener's inquiry about the necessity and implications of investing in private equity, especially in light of recent discussions and literature on the topic. With insights from investment expert Peter Lazaroff, we explore the pros and cons, the importance of having a solid retirement plan, and whether private equity is truly a beneficial addition to your portfolio. Tune in to gain clarity and confidence in your retirement investment strategy!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Complexity is your enemy. Any fool can make something complicated. It is hard to keep things simple.-Richard Branson(00:38) Today’s episode is about private equity.(01:33) Roger reads an email from listener Dave with a question about investing in private equity.(02:28) Roger says that this episode features his opinion and judgment on private equity.(06:45) Don't think about private equity until you have a vision for what you want your retirement to look like. (10:20) Consider the second order consequence of making an investment.(12:00) Unless you are significantly overfunded and have an interest in private equity- Roger thinks private equity is unnecessary for creating a great life.INTERVIEW WITH PETER LAZAROFF(14:10) Introduction of Peter Lazaroff, author of Making Money Simple(16:39) What is private equity?(17:38) Who is traditionally invested in private equity?(26:12) When markets are under stress, private equity correlations go a lot higher.(27:49) What is the normal fee structure for investing in private equity?(31:15) What you're seeing more often these days are semi-liquid funds that offer liquidity windows.(34:30) There is no evidence to suggest that fewer companies going public is causing an issue.(40:15) We can’t predict when a bad decade of returns is going to come.(41:35) Peter: I am more concerned about implementing a bad idea than missing out on a good one.SMART SPRINT(42:39) In the next seven days, take a moment and remind yourself of the purpose of retirement planning which is to create a great life.BONUS(43:20) Roger reads an excerpt from his grandfather's WWII journal.REFERENCESTony RobbinsPeter LazaroffWall Street JournalBook- Making Money SimpleRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Show notes created by https://headliner.app

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  44:31
• Retirement Plan Live Debrief with Tanya Nichols

  💬 Show NotesIn this episode, we explore the essential questions of retirement planning with financial expert Roger Whitney and guest Tanya Nichols from Align Financial. They dissect the case studies of Laura and Nick, highlighting their unique approaches to retirement and how their lifestyles influence their financial decisions. Tune in for insights on spending, confidence in planning, and the importance of resilience in your retirement strategy!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Stage one of retirement planning involves answering the central questions(00:54) Today, Roger chats with Tanya Nichols about the Retirement Plan Live case studies.DEBRIEF WITH TANYA NICHOLS(02:40) Roger introduces Tanya Nichols with Align Financial.(03:28) Roger and Tanya discuss Laura’s RPL plan.(05:25) What risks are associated with having a lean spending plan?(08:35) Once people realize they can achieve something, they pause and evaluate reality.(09:58) Roger asks Tanya how she determines how hard to push clients when they're afraid of the next step.(12:10) Tanya and Roger discuss Nick’s RPL plan.(14:50) If you have a plan that is feasible and resilient, you will likely have an inheritance even if it isn't planned for.(17:00) Roger talks about the importance of a resilient plan.(21:18) Roger and Tanya compare/contrast Nick and Laura’s plans(23:10) Roger asks Tanya how she incorporates current world events into retirement and life choices.LISTENER QUESTIONS(25:06) John asks a question about best utilizing extra income.(29:38) Edward asks a question about diversification versus safety.SMART SPRINT(38:21) In the next seven days, I encourage you to start organizing your tax documents and get them to your CPA as early as possible.BONUS(39:34) Next installment of Roger’s grandfather’s WWII journal.REFERENCESRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!Retirement Plan Live ReplayAlign FinancialShow notes created by https://headliner.app

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  40:48
• Take Action Now for a Resilient Retirement

  💬 Show NotesIn this episode, we tackle the essentials of retirement planning with an engaging discussion led by Roger Whitney. We explore the importance of prioritizing what truly matters in your retirement journey and how to create a resilient plan that secures your desired outcomes. Roger emphasizes that retirement planning is merely a tool to achieve a fulfilling life, not the end goal itself. Joining him is Nicole Mills, who shares insights and updates on Six Shot Saturday and reads listener questions about retirement. Don’t miss this enlightening episode!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:30) Roger says retirement planning is not that interesting, but a means to an end.(01:41) Roger challenges listeners to take action on what is talked about THIS week.PRACTICAL PLANNING SEGMENT(02:50) Retirement planning is a self-interested process.(05:28) What questions do you want to answer in a healthy way?(06:45) Now is the time to make sure you have a resilient plan.(10:54) How do we make a plan resilient?(18:30) Markets are at an all time high, don’t get overly optimistic.LISTENER QUESTIONS(20:05) Nichole Mills joins Roger on the show.(20:45) We have some changes happening with Six Shot Saturday. (22:22) Listener TJ asks about building a bond ladder as he gets closer to retirement.(28:25) Jeff asks an optimization question about withdrawals from assets in retirement.(31:37) DJ is a new retiree and asks how Roger determines whether to make withdrawals annually, semi-annually, quarterly, or monthly.(36:30) Bill says he interviewed a financial planner and asks for clarification on fiduciary and non-fiduciary advisors.ROCKING RETIREMENT IN THE WILD(39:30) Roger talks about his new segment.(40:45) Listener Jeff talks about his retirement, irrational fears of the unknown, and how his plan gave him confidence.SMART SPRINT(43:50) In the next seven days, if you are within three years of retirement, get a resilient plan of record in place.BONUS(45:40) Roger shares the next mission from his grandfather’s WWII journal.REFERENCES Retirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!

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  48:00
• Don't Fly by Feeling in Retirement

  💬 Show NotesIn this episode, we explore the complexities of retirement planning amidst a rapidly changing economic landscape. Join us as we discuss the importance of having a structured decision-making process and avoiding unforced errors that could jeopardize your financial future. We also share insights on how to navigate uncertainty in the market and the significance of clarity in your retirement planning. Don't miss out on the actionable tips that could help you rock your retirement!OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:55) In a couple of weeks Roger will talk with Tanya Nichols and do a recap of the Retirement Plan Live Series(01:49) Roger talks about not flying by feeling through retirement for the practical planning segment this week.PRACTICAL PLANNING SEGMENT(02:15) A few weeks ago we had the announcement of the Chinese AI engine- Deepseek.(03:45) The new presidential team is seemingly focused on a shock and awe strategy in changing the rules of government and economy.(05:45) Roger uses driving to Colorado as an analogy to managing an uncertain economy in retirement.(09:35) “We do not want to fly into retirement just by our gut.”(10:14) What are the causes of unforced errors in general?(13:40) What are some signs that you are not following a good process? (16:00) The process that you have should be focused on defining the true objective.(18:56) Next week Roger will talk about resilience.LISTENER QUESTIONS(19:30) Roger says all of this change is disruptive, and worrisome.(20:00) We are going to share the 2025 important numbers worksheet in Six Shot Saturday. (20:40) Listener Mary says it's better to be alone than wish you were.(21:55) Clem says he learned the hard way that you are replaceable at work.(25:40) Wade asks about managing real estate in retirement and how to find financial advisors.ACTION IN THE WILD(29:45) Roger got an email from listener Todd about the actions he has taken from listening to the podcast.SMART SPRINT(33:13) In the next seven days, write out, as specifically as possible, the pillars and steps in your retirement planning process.BONUS(35:38) Roger reads from his grandfather's WWII journal REFERENCES Align FinancialNational Association of Personal Financial AdvisorsRetirement Answer ManThe Retirement Answer Man Free Worksheet LibrarySign up for 6-Shot Saturday!The Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies for Financial Freedom by Tony RobbinsShow notes created by https://headliner.app

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  36:38

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