Retirement Answer Man

Retirement Answer Man Trailer Bonus Episode 582 Season 1

How to Set Up Your Paycheck in Retirement

How to Set Up Your Paycheck in Retirement How to Set Up Your Paycheck in Retirement

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💬 Show Notes

In this episode, we explore the essential steps to setting up your retirement paycheck to ensure financial stability and confidence in your retirement years. Join us as we discuss the importance of tracking your cash flow, identifying spending trends, and creating a structured paycheck system that mimics the rhythm of a traditional paycheck. We also dive into listener questions about MYGAs, private equity, and inheritance planning, providing valuable insights to help you navigate your retirement journey.

OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN
  • (00:00) This show is dedicated to helping you not go bankrupt in retirement!
  • (00:25) Today we'll talk about how to set up your paycheck ahead of retirement
  • (01:16) Sign up for my weekly newsletter- The Noodle.
  • (01:44) In retirement, you lose the natural pulse of income coming into your checking account so it is important to have a system setup.
  • (03:05) What is the intent in setting up a paycheck in retirement?
  • (07:35) Roger talks about a default paycheck structure and how to set it up.
  • (12:30) What should you do about extraordinary expenditures? 
  • (13:14) How should you have your pretax account set up for a retirement paycheck?
  • (17:45) Setting up a retirement paycheck helps identify trends in spending or saving.
  • (19:22) There will be an explainer video exclusive in our weekly newsletter- The Noodle

LISTENER QUESTIONS
  • (20:00) I got an email from Bill, a demographer, giving me more insight about the question- “how long should we plan to live?”
  • (24:00) Adam sent in a question about MYGAs- Multi-Year Guaranteed Annuities.
  • (28:43) John sends feedback on our private equity episode.
  • (30:32) David asks how to factor a substantial inheritance into his retirement plan.

SMART SPRINT
  • (39:35) In the next seven days, look at your payroll system and how you construct it.

BONUS
  • (40:25) Roger reads an excerpt from his grandfather’s WWII journal.

REFERENCES



Show notes created by https://headliner.app


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