Retirement Answer Man

Welcome back to The Retirement Answer Man Podcast, I am your host, Roger Whitney. Some people know me as THE Retirement Answer Man and I’m here to help YOU make the most of your retirement years, not only through wise financial planning, but also through maximizing your life to be exactly what you want it to be. On this episode I’ve got some thoughts that I think will help you simmer down the worry kettle that may be cooking inside you. I hope you take some time to listen to this episode to understand how you can remove some of the worry and stress you may be feeling.

 

We love low gas prices, but what impact is it having on the global economy?

 

I’m sure you’ve been to a gas station lately. The low prices at the pump are a welcome relief, to be sure. But the thing we don’t think about is that our little corner of the world is benefitting from gas prices at the expense of those who produce it. Some stats are showing that major petroleum producers have seen a 70% drop in profits recently. What impact does that have on us (besides the lower gas prices)? I’m going to fill you in on the worldwide implications of low oil prices and give you some thoughts to consider about your response to them.

 

Have you heard the term “black swan” in financial talk lately?

 

Isn’t it great how the powers that be in the financial industry like to come up with all these dramatic names to describe certain phenomena? The term “black swan” is one of those that you hear now and then, especially in times when world events are a bit hectic or volatile. What does it mean, and more importantly, why should you care? I’m going to fill you in, on this episode of the podcast, and I’m going to point you toward an understanding of world events that can help you feel a bit more at ease.

 

How confident and at peace do you feel in light of what’s happening in our country and in the world right now?

 

If you’re like most people, world events like hunger, wars, terrorism, elections, and a host of other things can get you kind of wound up inside. There appears to be every reason to be stressed, worried, and concerned about the future in light of what’s happening now. Whenever I feel that way I find it’s very helpful for me to take a look backwards, at similar times in the past. What good does that do me? You’ll find out by listening to this episode of The Retirement Answer Man, and I hope you’re helped by it.

 

Here’s a practical SMART Sprint you can do today!

 

Every week I bring you a short, timely, practical thing you can do to take better control over your financial future a small step at a time. I call it the SMART Sprint and today’s has to do with your retirement accounts, the amount you’re having taken out from each paycheck, and a simple way you can get ahead of the game so that come the end of the year, you’re not in a panic about contributions and deductions. Are you interested? Be sure to listen.



OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

 

  • [0:27] Roger’s introduction to this episode.
  • [0:50] How you can get in on “6 Shot Saturday.”

 

HOT TOPIC SEGMENT

 

  • [2:33] Announcements from the oil industry attempting to stabilize the oil markets.
  • [4:30] The impact the oil market downturn is having on the world.

 

WHAT DOES THAT MEAN? SEGMENT

 

  • [6:55] What is a “black swan?”

 

PRACTICAL PLANNING SEGMENT

 

  • [8:48] How confident do you feel in light of what’s happening in our world and in our country?
  • [10:55] A historical look at similar world and financial issues.
  • [18:31] Is the U.S. in its “twilight” economically?
  • [22:48] What is with all the global violence?

 

THE “BE HAPPY” SEGMENT

 

  • [27:03] One way to leverage yourself toward happiness this week - “Time Will Tell.”
  • [26:34] Happiness for you is different than it is for another person.

TODAY’S SMART SPRINT SEGMENT

 

  • [27:43] When’s the last time you’ve checked your contribution account amounts?

 

RESOURCES MENTIONED IN THIS EPISODE

 

Text “Sixshot” to “3444” and get Roger’s Six Shot Saturday emails.

 

Contact Roger: http://www.rogerwhitney.com/retirementanswers/

 

Roger’s retirement learning center: www.RogerWhitney.com/learn

 

The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Direct download: RAM107.mp3
Category:general -- posted at: 6:00am CST

I am so thankful, yes THANKFUL that you have decided to take the time to join me for another episode of the Retirement Answer Man. This show is a labor of love to me and I can’t express how wonderful it is for me to know that you’re finding value in what I’m sharing. On this episode we’re going to chat a bit about the markets. Man, they’re really stinky right now. But what does that really mean? While we can’t predict the future, there IS something we can do to help us get our bearings in such terrible markets, and I’m going to share that, some listener questions, and some thoughts about being happy in retirement, on this episode of the Retirement Answer Man.

 

Are you signed up for my “Six Shot Saturday” email list?

 

I’ve begun a new email list that features six simple, short, actionable tips you can use right away to help you better position yourself for retirement, plan your life, and live a better life. You’ll get those every Saturday, right in your email inbox, and I’m certain they’ll be a great asset to your life. You can find out how to get on that email list (and get some special content you can’t find anywhere else) by listening to this episode.

 

Inflation is a buzzword we hear all the time, but do you know how it impacts you?

 

It seems that ever since the 1970s the word “inflation” has been added to everyone’s vocabulary. The first thing we think of when we hear it is increases in the price of goods we purchase. But there’s more to inflation than just that, and on this episode of the Retirement Answer Man I’m going to walk you through what you should be thinking about when it comes to the issue of inflation and how you can better address your particular situation in light of it.

 

What do you think, is the stock market going to stay this bad all year?

 

The 2016 stock market has started out with a very loud “THUD.” It’s terrible, the worst returns we’ve seen in years. The financial analysts and talking heads on the news channels are talking the possibilities of a bunch of doom and gloom for the rest of the year as a result. But does a bad start like this necessarily mean that we’re going to have a terrible year in the markets? On this episode I’m going to look at some historical data about situations just like this to help you get out of the emotional response and into a data driven way of thinking about it. I think this will be very helpful.

 

What kind of person do you want to be in retirement?

 

You know, retirement has more to do than being off work and playing on the beach or at the golf course. It’s really about quality of life and one of the main things you need to consider when you think about that is the kind of person you are. This week I noticed some older pictures on my Facebook wall and it reminded me of some of the adventurous things I’ve done in years past. It got me thinking about the future and the person I want to be when I get there. I think this edition of my happy segment will give you a bit of inspiration for your retirement years, so be sure to listen.

 

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

 

  • [0:24] Roger’s welcome to this episode of the podcast.
  • [0:58] Can you share the show with someone?
  • [1:34] Sign up for the “Six Shot Saturday” email.

 

WHAT DOES THAT MEAN? SEGMENT

 

  • [3:27] What does “inflation” actually mean?
  • [4:20] How inflation is tied to the Consumer Price Index.
  • [6:07] The things the CPI impacts.

HOT TOPIC SEGMENT

 

  • [7:36] Is the stock market going to stay this stinky?
  • [9:20] The predictions the financial media is making.
  • [9:43] What history shows us about years like this.
  • [10:53] Roger’s calculations compared to history.
  • [12:52] Roger’s download you can get through the Six Shot Saturday list.

PRACTICAL PLANNING SEGMENT

 

  • [13:43] QUESTION: Does inflation have less impact on retirees?
  • [18:51] QUESTION: How to handle the stresses of the market.

 

THE “BE HAPPY” SEGMENT

 

  • [23:23] Facebook, memories, and happiness.
  • [24:50] The power of keeping focused on who you want to be in years to come.

 

RESOURCES MENTIONED IN THIS EPISODE

 

Text “SixShot” to “33444” to get on the “Six Shot Saturday” email list

 

www.RogerWhitney.com/RPL - Find out more about retirement plan live!

Contact Roger: http://www.rogerwhitney.com/retirementanswers/

 

Roger’s retirement learning center: www.RogerWhitney.com/learn

 

The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

 

The Real Britain Index

 

Article in New Economics

 

Direct download: RAM106.mp3
Category:general -- posted at: 6:00am CST

Welcome once again to The Retirement Answer Man show. I’m Roger Whitney, AKA the Retirement Answer Man. This episode of the show is one where I really get to live up to that name, because I’m answering two very practical listener questions covering how to figure out your “risk tolerance” in light of the different types of investment vehicles you have in your portfolio, AND whether or not it’s smart to get your money out of the financial system altogether by investing in real estate. As you can see, there’s some great stuff on this episode, so be sure you take the time to listen.

What is “risk tolerance” and what’s wrong with the way we assess it?

You may have heard the term “risk tolerance” before. If you’ve got any experience in the investments arena you surely have. But what does it mean? In short, it’s the amount of risk you’re willing to endure in order to potentially get greater returns on your investments. But I have to admit that I’ve got a pet peeve about this whole concept… and I’m not really sure it’s the best way to go about assessing what you should be investing in. Why? I’d love to fill you in, and I will on this episode.

Should you be following the advice of those making market predictions?

The very short answer is “no,” you shouldn’t. But do you know why? It’s almost every day that you hear somebody espousing another “new” way to invest that gives greater returns, do you know why it would be a mistake to follow the advice of these people? It’s because I have a quarter that has a better chance of determining the right investments for your money. Really, I do! If you’re confused, that’s OK, I’ll unpack all of that and more as I tell you why those making market predictions are not to be trusted, on this episode.

Should you take money from your retirement accounts and put it into real estate investments?

On this episode a listener admits that he’s very skeptical of the whole investment scene because of Madoff and other scandals. He simply doesn’t trust it anymore. Instead, he’s considering putting his money into real estate in the form of rentals. Is that a good idea? I’m not one to discourage real estate investing by any means, but I’m also not sure that taking all of his money out for that purpose is wise. And I’m not sure that skepticism is the best reason to do so, either. You can hear why I say both of those things, on this episode.

Should you treat your various retirement accounts the same when it comes to risk assessment?

One of my listeners today asks this great question. It’s great because it’s taking into consideration the things that should be considered. Think about it. You have varying investment vehicles that you use - IRAs, 401K, bonds, stocks, etc. Each of them has their own unique characteristics, including time frames and investment strategies. Doesn’t it make sense that you’d want to have a unique approach to your risk assessment in light of those kinds of characteristics? On this episode I’m going to walk you through the basics of how to think about those kinds of issues!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

  • [0:26] Roger’s thanks and introduction to this great episode.
  • [1:20] How you can get Roger’s “6-shot Saturday” emails.

WHAT DOES THAT MEAN? SEGMENT

  • [2:45] Today we define the term “risk tolerance.”
  • [3:20] Questionnaires you may face when determining risk tolerance.
  • [5:41] The problems Roger has with some of the “best practices” behind risk tolerance.

HOT TOPIC SEGMENT

  • [11:11] A confession from Roger.
  • [12:05] Should we listen to market forecasts? Why not?
  • [14:19] Forecasting isn’t about predicting the market, it’s about marketing the prediction.

PRACTICAL PLANNING SEGMENT

  • [17:26] QUESTION: Does it make sense for us to redirect some of our 401K money into rental properties?
  • [26:55] QUESTION: Should I handle my risk tolerance allocations the same in all my various accounts?

 

TODAY’S SMART SPRINT SEGMENT

  • [31:35] A question to ask when you make a purchase anytime this next week.

THE “BE HAPPY” SEGMENT

  • [32:16] Some insight from a friend of Roger’s about the issue of happiness in spite of difficulties.

 

RESOURCES MENTIONED IN THIS EPISODE

www.RogerWhitney.com/RPL - Find out more about retirement plan live!

Contact Roger: http://www.rogerwhitney.com/retirementanswers/

Roger’s retirement learning center: www.RogerWhitney.com/learn

The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

http://www.nolo.com/legal-encyclopedia/is-that-residential-real-estate-investment-property-worth-it.html  

Direct download: RAM105.mp3
Category:general -- posted at: 6:00am CST

Welcome back to the Retirement Answer Man… my name is Roger Whitney and I am a certified financial planner, and your host of every episode of the show. This show is all about you - your retirement, your future, and your life. I want to help you think about your finances and retirement planning in a way that enables you to make wise decisions that lead to the kind of lifestyle that best fits the future you want to enjoy. On this episode I’m going to answer some listener questions, fill you in on the impact of “negative interest rates,” and give you some thoughts from my own life about a happiness perspective that can make your life much more peaceful. Interested? Be sure to listen.

 

Be sure you get in on my next free webinar!

 

If you’re at the stage in life where you need to begin putting together an investment portfolio, you’re reading this at exactly the right time. Coming up in March of 2016 I’m going to be doing a free webinar that addresses how to construct and manage an investment portfolio. It’s going to be packed full of valuable information and allow for questions and answers at the end. If you’d like to be a part of that helpful webinar, I’d love to have you attend. Just listen to this episode of the show to find out how you can get signed up.

 

Negative interest rates? Is that even a thing?

 

Believe it or not, yes - negative interest is a real thing and we just found out about it in the real world right here at the end of January, 2016. Japan’s central bank announced that it is putting a “negative interest” policy in place in an effort to prop up the country’s economy and get a recovery of sorts underway. The move allows for banks and lending institutions to actually charge depositors for putting their money on deposit with the bank. That sounds crazy, doesn’t it? Why would anyone pay to have their money in a bank? I’m going to walk you through it and tell you how it could impact you, on this episode.



Did you know there’s a point where tax deferred investments are NOT the best way to go?

 

It’s true. Depending on quite a number of variables, you may not want to put your retirement savings, or at least a portion of it, into tax deferred accounts like IRAs. It has to do with tax brackets and income levels during retirement, and it’s an important thing for you to understand so you don’t put yourself in a position where your tax deferred accounts are actually hurting you financially. Find out the details on the Q&A section of this podcast episode as I respond to listener questions about the topic.

 

One way to increase your happiness is through trust.

 

You don’t have to be a religious person to benefit from learning to trust. There are simply too many things in life that are difficult to comprehend and impossible to predict for us to go around trying to figure them all out. There comes a point where we simply have to trust that things are going to work out for the best. In this week’s “Be Happy” segment, I share my own trust journey with you and ask you to consider, “Where could you learn to trust in a way that benefits your journey?”

 

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

 

  • [0:21] Roger’s introduction and welcome to this episode.
  • [0:44] Thanks to all the Retirement Plan Live participants!
  • [1:14] An upcoming webinar: Constructing and Managing an Investment Portfolio.

WHAT DOES THAT MEAN? SEGMENT

 

  • [2:41] What are negative interest rates?
  • [4:40] Why would a bank charge negative interest rates?

 

HOT TOPIC SEGMENT

 

  • [6:14] Why are negative interest rates of interest to you and me?

 

PRACTICAL PLANNING SEGMENT

 

  • [9:39] 3 listener questions…
  • [10:15] Advice for people who want to pull everything out of the stock market.
  • [18:06] What is better financially, tax-deferred investments or something else?
  • [24:55] Should I be investing in IRAs at my age?
  • [27:20] How to ask your questions.



TODAY’S SMART SPRINT SEGMENT

 

  • [27:31] An easy sprint: create a folder!

 

 

THE “BE HAPPY” SEGMENT

 

  • [28:23]   

RESOURCES MENTIONED IN THIS EPISODE

 

Contact Roger: http://www.rogerwhitney.com/retirementanswers/

 

Roger’s retirement learning center: www.RogerWhitney.com/learn

 

The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan

Direct download: RAM104.mp3
Category:general -- posted at: 6:00am CST

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