Retirement Answer Man

Welcome to Retirement Plan Live: Flying Solo Edition. On each Retirement Plan Live, I walk prospective retirees through the same agile retirement planning session that I do with my clients. This edition is created by popular demand for singles who are...

Show Notes

Welcome to Retirement Plan Live: Flying Solo Edition. On each Retirement Plan Live, I walk prospective retirees through the same agile retirement planning session that I do with my clients. This edition is created by popular demand for singles who are planning to retire. There are so many retirement planning resources out there geared toward married couples, but hardly any are focused on singles. This series hopes to change that. Listen to this episode of Retirement Answer Man as Sam and I discuss the resources she has at her disposal to help us plan her ideal retirement.

What resources do you have to achieve your ideal retirement?

The last episode in this series focused on dreaming big. Sam shared her retirement dreams and I dared her to dream even bigger. We start to come back down to earth in this episode as we focus on what resources she has to plan her retirement. It’s great to dream big, but then you have to find a way to fund it. The next step in creating a retirement plan is uncovering what resources are available to you. Resources are any income sources you may have, these may include income, pension benefits, social security, etc. Listen to this episode to discover how to take the next step in your retirement plan.

Create an action plan

When you create an action plan you have to organize yourself and your finances. Luckily on this week’s 6 Shot Saturday I include a heap of resources for you to use to create your own action plan. This action plan will help you consider all of the income streams that are available to you that you may not have even thought of. Your action plan may include pretirement income, downsizing your home, or even social security from an ex. Be sure to listen to this episode so that you can begin your action plan to help you plan your ideal retirement.

Do you have a net worth statement?

Many people have never even heard of a net worth statement, and many more haven't created one. I’m here to tell you: you need one! A net worth statement can seem intimidating to create, but you will feel much better once you have one in place. It will help you become more intentional in your retirement planning. A net worth statement gives you an easy snapshot of all of your available resources. I love net worth statements so much that I am including a worksheet to help you create your own in this week’s 6 Shot Saturday. So make sure you are signed up to get all the goodies that I have coming your way to help you build your ideal retirement plan.

Does Sam have a net worth statement?

Last week Sam got to dream big, but this week we come back to earth a bit and discuss how to make those dreams happen. Sam has heard of a net worth statement but has never created one herself. I walk her through a series of questions to build an understanding of her assets and debts so that I can create an accurate net worth statement for her. We also discuss her different income sources, inheritance, pensions, and pretirement options. Listen to the practical planning segment as I walk Sam through the steps to build her net worth statement and action plan. These steps will help you build your own agile retirement plan.

 

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT
  • [3:22] What resources do you have to identify your ideal retirement?
  • [8:02] Do you have a net worth statement?
PRACTICAL PLANNING SEGMENT
  • [[12:00] How did it feel to hear herself on the podcast?
  • [14:35] What are Sam’s income sources?
  • [18:23] Sam and I build a net worth statement
  • [31:22] Next week we’ll discuss risks
THE HAPPY LAB SEGMENT
  • [32:59] Building a net worth statement can be intimidating, but it helps you be more intentional
TODAY’S SMART SPRINT SEGMENT
  • [33:47] Get the resource in 6 shot Saturday to build your own net worth statement
  Resources Mentioned In This Episode

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Ask Roger a question

Work with Roger

3-video Series: 5 Minute Retirement Makeover

Roger’s Retirement Learning Center

The Retirement Answer Man Facebook Page

Intro music by bensound.com

 

What is Retirement Answer Man?

A top retirement podcast. Roger Whitney, CFP®, CIMA®, CPWA®, RMA, guides you on how to actually do retirement well financially and personally. This retirement podcast isn't afraid to talk about the softer side of retirement. It will teach you how to retire with confidence. Two-time PLUTUS winner for best retirement podcast / blog and the 2019 winner for best financial planner blog. This retirement podcast covers how to create a paycheck, medicare, healthcare, Social Security, tax management in retirement as well as retirement travel and other non-financial issues you'll need to address to rock retirement. Retirement isn’t an age OR a financial number. It’s finding that balance between living well today and feeling confident about your retirement. It’s about gaining more freedom to pursue the life you want. Join the rock retirement community at www.rogerwhitney.com