💬 Show Notes

This week on the Retirement Answer Man show, we kick things off with a couple of Rockin’ Retirement in the Wild stories from listeners living out their retirement dreams. Then we dive into a mini case study from a listener recently laid off who’s wondering if early retirement is on the table, we’ll walk through the numbers and stress test his plan. We wrap up our month of travel talk with a fun chat with Chris and Cathy about their retirement adventures and how they’re making the most of their freedom to explore.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) In this episode, we wrap up our travel reflections and explore a listener's question about the pros and cons of retiring at age 59.
• (01:40) Looking ahead, July will feature 'Best of' episodes of the Retirement Answer Man podcast and August will focus on listener questions.

ROCKIN’ RETIREMENT IN THE WILD

• (02:50) Rock Retirement Club member, Pete, has a podcast called Retiring with Enough and that podcast just hit episode 150.
• (04:04) Listener, Adrianne, sent in a letter about rocking retirement.

LISTENER CASE STUDY

• (04:45) An anonymous listener reached out to share that he’s considering early retirement after a job loss caused by the downturn in the automotive industry. Today, we explore whether he can make it work.
• (09:20) A breakdown of the listener’s financial situation.
• (13:35) We have to make some assumptions about investment and will use software to simulate different scenarios.
• (17:00) Let’s look at the results- a feasible plan is not necessarily resilient.
• (19:40) Let’s do some basic stress testing to see how your plan holds up when life throws curveballs.

TRAVEL STORIES WITH CHRIS AND CATHY

• (24:52) Two recent retirees, Chris and Cathy, have focused on domestic travel now that work is out of the way.
• (29:10) Roger: What was one moment that stood out from your entire trip that stands out for each of you?
• (31:45) Roger: Do you two talk when you're on road trips or do you audiobook or something?
• (32:23) Chris and Cathy said they retired together and knew they wanted to go back to Jersey.
• (33:21) Roger: How did you adjust to being together 24/7?
• (34:55) Chris and Cathy discuss how they will approach travel in retirement.
• (36:17) Roger: Over a twelve month period, what percentage of time do you travel? And what is the pull to travel so much?
• (39:36) Roger: Do you think this three months a year travel cycle is a season or do you think this is a new identity as explorers?
• (42:05) Roger: What tips or suggestions would you give to others who have never traveled internationally or have never planned a big road trip?
• (46:55) Roger: What is it internally that travel you feel adds to your life?

SMART SPRINT

• (48:19) In the next 7 days, confirm that you have at least two years of safe assets, cash or short-term reserves, to cover your lifestyle expenses not covered by income. Even if your plan looks feasible on paper, test its resiliency. Would it hold up if the market took a hit tomorrow?

BONUS

• (48:55) Now that we’ve finished my grandfather’s journal, to end the show I will share things I’m geeking out on. Today: electric bikes.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man
• Retiring with Enough Podcast with Dr. Peter Guidry
  
  

TRAVEL WEBSITES

• Free Range Fun Hogs- Travel Blog

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram
  
  

💬 Show Notes

In this episode, we tackle the intricacies of retirement planning and the importance of trusting your financial projections. Join us as we explore the concept of 'productive paranoia' and how it can help you avoid costly errors in your retirement strategy. We'll also hear a heartfelt travel story from Scott, who shares how he embraced international travel after a significant life change. Don't miss this enlightening discussion that will empower you to take charge of your retirement journey!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) This show is dedicated to helping you have the confidence to rock retirement.
• (01:15) How do you have confidence in your retirement plan?
• (04:44) How do you quality check your plan?
• (05:07) Let’s start by talking about the concept of productive paranoia from Jim Collins’ Great by Choice—a mindset of staying hyper-aware, building buffers, and zooming out for perspective to strengthen your retirement plan even when things seem to be going well.
• (07:09) Quality checking a retirement plan means making sure the inputs and results align with your goals.
• (08:33) What are the most common unforced errors?
• (12:21) What are some of the obstacles to quality checking your plan?
• (13:30) How do we quality check a retirement plan using metacognition?
• (19:30) What is the benefit of reading your goals out loud?
• (22:45) Another tactic is running your plan through another system.

INTERVIEW WITH SCOTT

• (24:40) Roger continues talking about traveling in retirement.
• (26:20) Roger reads an email from his client Larry, an avid RV traveler.
• (28:30) Roger introduces Scott for a conversation about international travel.
• (34:30) Scott shares thoughts about both solo and group travel.
• (39:30) Scott talks about traveling after his wife of 30 years passed away.
• (41:25) Some people feel intimidated being the third wheel even when they're invited
• (43:50) Roger says he is really interested in the micro communities of people who are comfortable enough to travel together.
• (47:55) Roger asks Scott what advice he would give to people to embrace single traveling.
• (50:30) Roger reflects on how we often overlook the beauty of our own surroundings and asks Scott what deeper meaning travel holds for him in retirement.

SMART SPRINT

• (53:20) In the next seven days, quality check your plan of record using some of the tools we talked about.

BONUS

• (53:50) Roger reads the last entry in his grandfather’s WWII journal.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man

BOOKS

Great by Choice: Uncertainty, Chaos, and Luck- Why Some Thrive Despite Them All- Jim Collins

TRAVEL WEBSITES

• Free Range Fun Hogs- Travel Blog
• Rick Steves
  
  

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram
  
  

💬 Show Notes

In this episode, Roger Whitney dives into the essential elements of not just surviving, but thriving in retirement. We kick off with a listener's story about the challenges of early retirement and the important questions that arise during this transition. Then, we shift gears to a practical planning segment on how to rebalance your retirement portfolio as life and market conditions change. Lastly, we hear from Karen and Shannon, two adventurous retired women, as they share their inspiring experiences traveling internationally and building confidence in their new lifestyles. Tune in for insights that can help you rock your retirement!

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) This show is dedicated to helping you rock retirement.
• (00:54) Next week on the show we are going to talk about how to quality check your retirement plan.

ROCKIN’ RETIREMENT IN THE WILD

• (01:34) A listener sent in an email about her retirement experience.

PRACTICAL PLANNING SEGMENT

• (04:50) In the practical planning segment, Roger reviews how to rebalance your portfolio in retirement.
• (06:30) What is rebalancing, and why does it matter in retirement?
• (08:30) How often should you rebalance your portfolio?
• (09:20) Step 1: Review your actual spending compared to your plan of record.
• (11:03) Step 2: Adjust or update your projected spending for the year ahead.
• (13:30) Step 3: Refresh your income estimates and update asset values.
• (15:19) Step 4: Run a feasibility check—use Monte Carlo simulations or your household balance sheet.
• (16:01) Step 5: Test your plan’s resilience and update your allocation strategy.
• (18:45) Step 6: Consider your contingency fund—how much cushion do you need, and how will you refill your 5-year income floor?

INTERVIEW WITH SHANNON AND KAREN ABOUT TRAVELING IN RETIREMENT

• (22:51) Roger talks with Shannon and Karen about traveling internationally in retirement as single women.
• (31:10) You had several hurdles to overcome.
• (33:13) Karen says she likes traveling with a group and hiring individual guides.
• (37:05) Newer tours are much more curated and intimate than they used to be.
• (42:25) What advice would you give to someone who is single and nervous about traveling internationally alone?

SMART SPRINT

• (47:34) ​In ​the ​next ​seven ​days,​ schedule an hour to an hour and a half during the third quarter of the year for a “retirement rebalancing meeting,” clearly outlining your plan on your calendar so you can prepare and follow through effortlessly.

BONUS

• (48:30) Roger reads from his grandfather’s WWII journal.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man

TRAVEL WEBSITES

• The History Chicks Podcast
• Zingerman’s Food Tours
• Road Scholar

FOLLOW US ON SOCIALS

• Follow Us on Facebook!
• Follow Us on Instagram