đź’¬ Show Notes
In this episode, Roger Whitney explores the psychology of loss aversion and how it affects financial decision-making. He introduces the new Retirement Toolbox segment, offering practical, actionable tools to help you strengthen your retirement plan. We also cover the benefits of Qualified Charitable Distributions and answer listener questions on retirement planning and asset allocation. Don’t miss this insightful discussion designed to help you confidently navigate and optimize your retirement!
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
- (00:00) This show is dedicated to helping you not just survive retirement, but rock it
PRACTICAL PLANNING SEGMENT
- (01:00) Roger breaks down loss aversion and how it relates to retirement.
THE RETIREMENT TOOLBOX
- (04:35) Roger launches a new segment on essential financial tools, starting with the Qualified Charitable Distribution, a timely, tax-smart way to give at year-end.
LISTENER QUESTIONS
- (11:53) Wes asks how to build retirement reserves before retirement without triggering higher taxes.
- (17:12) Roger responds to John’s critique of the “Process Over Panic” episode, clarifying why a retirement plan should be treated as a living, flexible guide rather than a rigid set of rules.
- (22:52) Feedback from David highlights why factoring early losses in Monte Carlo simulations can boost confidence despite slight double-counting.
- (26:35) Thoughtful listener disagreements are welcomed as a way to deepen understanding and improve retirement planning insights.
- (27:43) Thomas has some questions about getting started with a retirement planner.
SMART SPRINT
- (36:07) In the next seven days, anyone within three years of retirement should map out their liquidity and consider reallocating assets to protect against market swings in the early years, avoiding unnecessary risk if funds will be needed soon.
CLOSING THOUGHTS
- (37:05) I've been building a personal library of classics, including fiction and nonfiction, and welcome book suggestions via The Noodle to help expand the reading list.
REFERENCES
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