Retirement Answer Man

Do you have too much stuff? Are you like me? Have you lived in your home for several years and have a lifetime supply of clutter? If you are planning on moving in retirement then you must purge some of this stuff. On the Hot Topic segment, I provide tips on purging. In the Practical Planning segment, I help you discover how to make the most of your new locale. Listen to this episode for valuable tips on decluttering your life, exploring whether relocating is right for you and learning how to make the most of your new locale.

How can you purge your stuff to set yourself up for a successful transition?

Purging is a must. Not only will you help with staging your house, but you will also have less to pack, you might earn a few bucks, and it will bring less stress in your move. It’s important to start decluttering early, it is too stressful to wait until the last minute. I’m trying to tackle purging a room a month, I don’t want to try to do too much all at once. Here are some questions to ask yourself when sorting through a lifetime of memories. When is the last time you used it? If you haven’t used it in the last year you probably don’t need it. Can you digitize it? Do you really need it? Has that season passed in your life? Listen to how I set up my 3 box system so you can learn to organize your purge on this episode of Retirement Answer Man.

How can you make a successful transition?

Combining two of the most stressful transitions in life together could be a bad idea. You may want to take them one at a time. Retiring will bring about a big change in lifestyle and it could be overwhelming to throw in a move on top of the new life dynamic. You could consider slowing down first and adjusting to retirement then relocate at a later time. This way you pace yourself as you tackle these transitions. Listen to this episode to hear how to make your transition to retirement and a new locale as seamless as possible.

How will you pay for it?

If you are looking to get a mortgage on your new home you need to be able to qualify for it. Mortgage companies use incomes as the primary factor in deciding who qualifies for a mortgage and many people get denied for mortgages even when they have a hefty net worth. Find out if a manual underwriter is what you need by listening to this episode. If you decide to pay cash how will you fund it? Should you draw from a retirement account? Do you sell your current home and use the funds from the sale to purchase the new home? Should you buy another home while you still own the home you're in? Listen to this episode of Retirement Answer Man to find out what the best way for you to pay for your next house

Are you sure you have chosen the right area?

Sometimes people buy the land to build a house or a retirement home early and then realize that they don’t really want to be in that area. Think to yourself if you really want to retire to that chosen locale. Have you spent enough time in the area to know the about community, the taxes, and the facilities? There is a lot to consider when choosing a new locale. You also need to think hard if your current house and neighborhood are that bad. Listen to this episode of Retirement Answer Man to help you choose your new locale, or even if relocating is the right choice for you.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

HOT TOPIC SEGMENT

  • [2:19] Do you have too much stuff?
  • [4:58] How can you purge to set yourself up for a successful transition?
  • [11:02] Should you sell or donate?

PRACTICAL PLANNING SEGMENT

  • [12:45] How can you make a successful transition?
  • [14:26] How will you pay for it?
  • [19:55] Are you sure this is the right area?

THE HAPPY LAB SEGMENT

  • [26:01] Think about your needs vs. wants are your wants distractions?

TODAY’S SMART SPRINT SEGMENT

  • [28:00] Take the purge challenge

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

Direct download: RAM240.mp3
Category:general -- posted at: 6:00am CST

Where you live in retirement does not depend on the school district, your job, or having a bigger house for the kids. For the first time in your life you can live anywhere you want with no restrictions. If you are thinking of relocating in retirement then you’ll definitely want to listen to the Relocation in Retirement series of this show. On this episode, we’ll be discussing what the considerations are to finding the perfect place to retire. If you have been thinking that you may want to relocate when you retire then you will definitely want to listen to this episode and discover how to find the perfect place to retire.

Retirement and moving are among the top ten stressors, so why do both?

Most people decide to age in place, but there are many people that do wish to relocate as part of their retirement plan. Both retirement and moving among the top ten stressors that you can have in your life. So when you are talking about doing both and at the same time it can be a rough ride. This is why it is so important to go about retirement and moving with the right attitude. If you let the stress get to you it can be overwhelming, but if you bring the right perspective then relocation in retirement can be a wonderful choice. Listen to this episode to help you learn how to find your happy place to retire.

What are the motivators for moving in retirement?

People choose to move in retirement for a number of reasons. The home equity accrued can make up a large portion of your net worth. Your mortgage is probably pretty well paid down and in addition, right now, most home markets are doing quite well. This can be a big motivator to sell the house. Some people feel the need to ‘right-size’ their house. After the kids are grown many people end up with too much house, and along with that come big taxes and upkeep. By downsizing, you can save a substantial amount of money. What are your motivators for moving in retirement?

What should you look for in a forever home?

Once you make the decision to sell your house, what should you look for in a house where you plan to live for the rest of your life? You shouldn’t think about what suits your life just now, but how it will suit you on down the road when you become less mobile. Does it have attributes for you to age in place? You don’t want to have to deal with stairs as you age, so a multi-story home could be a challenge. You should also consider if the doorways are wide enough to accommodate a walker or wheelchair. Listen to this episode to hear all the considerations you may not have thought of when moving to a forever home.

What type of community are you looking for?

When choosing a different community to live in there are many things to consider. How close is it to the family? Kids and grandkids can be a big draw, but what happens if they decide to move? Cost of living is also a huge consideration. You probably don’t want to live somewhere that will break the bank. Living somewhere with a lower cost of living can completely change the way you live your retirement. You could stop working sooner, travel more, or spend money on extras. Another consideration is, what kind of community services are there? Look at hospitals, doctors, assisted living centers, or churches. Listen to this episode of Retirement Answer Man to find out all the things you need to consider when looking for the right place to retire.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

HOT TOPIC SEGMENT

  • [2:45] Retirement and moving are among the top ten stressors
  • [3:26] What are the motivators of moving in retirement?

PRACTICAL PLANNING SEGMENT

  • [8:21] Does it have attributes for you to age in place?
  • [9:55] Where are the kids?
  • [11:35] What is the cost of living?
  • [13:57] What type of environment are you looking for?
  • [17:13] What is the tax situation like?

THE HAPPY LAB SEGMENT

  • [18:38] What is the happiest thing about a relocation?

TODAY’S SMART SPRINT SEGMENT

  • [20:18] Think about where you would live if there were no constraints

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

Direct download: RAM239.mp3
Category:general -- posted at: 6:00am CST

Although most retirees choose to retire in place, I have seen a significant number of my clients choose to move as they retire. Over the next three episodes, we will be discussing relocation in retirement. Retirement and moving are both on the list of top 5 most stressful life event so I want to arm you with as much information as possible to help you get through the challenge of moving in retirement. On this episode, we’ll discuss how to make the most out of the sale of your home. Listen to this episode to hear my special guests, Joe from the Stacking Benjamins podcast, and Mindy Jensen, from the Bigger Pockets podcast, they both give great advice on your home sale.

What are the motivations of wanting to move?

Why do some people choose to move at an already stressful time in their life? There are many possible reasons. Often the house they were living in was the one that they raised their children in and is now too big for the next stage in life. Now with retirement ahead, proximity to work or being in the right school district doesn’t matter. Some move to be closer to adult children and grandkids. And some people just want to be in a more desirable location. Listen to this episode to hear why many retirees choose to pack up and relocate

Tips for moving

Mindy Jensen, the author of How to Sell Your Home, joins me on the Practical Planning segment of the show to give tips on how to get the most out of your home sale. There are a lot of little things you can do to maximize the price and make a quick sale. A great way to start preparing your home for sale is to clean and declutter. No one wants to look at a dirty, cluttered house. If you can’t bear to part with your treasures, renting a storage unit is a great way to hang on to your memorabilia and keep a tidy, depersonalized home. Mindy has some great money saving tips on how to spruce up your house to get the most out of your home sale.

Why are you selling?

To maximize everything about your home sale you first need to understand why you are selling. If you want to sell your home quickly you should use a real estate agent. If you have plenty of time and want to do things your way you could try to sell your home on your own. Once you understand your reasons you can decide how to choose an agent if you choose to use one. Before listing your house you also need to do your own homework. Learn which agents are the best in your area to help you decide whether you want to go with a big name or whether you should choose someone that can devote more time to you. Listen to this episode of Retirement Answer Man to hear how to go about choosing a real estate agent.

To rent or not to rent

One of the trickiest parts of moving is the timing. How do you know when to look for a new house? Should you wait until after you’ve already sold your home? What if you have found the perfect house and your house isn’t even on the market yet? Should you rent a house while you look for the right one? There are so many questions involved when trying to figure out how to relocate. Unfortunately, there is no one size fits all answer, but there are some tricks to making the timing of the sale of your home as painless as possible. Listen to this episode of Retirement Answer Man to discover how to get the timing right on your home sale.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

HOT TOPIC SEGMENT

  • [3:30] What are the motivations of wanting to move?
  • [8:50] Joel Saul Sehy makes an appearance
  • [15:33] The Stacking Benjamins world tour
  • [20:33] Most people want to stay in place, but why would someone want to move
  • [25:30] Tips for moving

PRACTICAL PLANNING SEGMENT

  • [29:38] Mindy Jensen cohosts the Bigger Pockets Money podcast
  • [31:23] Should you use a realtor?
  • [38:01] What do you do to improve to sell your house?
  • [44:55] Take honest photos
  • [47:33] Pricing the house correctly is important
  • [50:45] Should you sell then rent?

THE HAPPY LAB SEGMENT

  • [54:52] I try my hand at some jokes

TODAY’S SMART SPRINT SEGMENT

  • [56:10] Share some funny jokes with us on Facebook or Twitter

Resources Mentioned In This Episode

Stacking Benjamins Tour

Bigger Pockets Money Podcast

BOOK - How to Sell Your Home by Mindy Jensen

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

Direct download: RAM238.mp3
Category:general -- posted at: 6:00am CST

For many retirees, retiring is more about time freedom rather than not working. This is why so many people decide to become entrepreneurs and enjoy a pretirement phase of life. My guest on episode 237 is author Mike Michalowicz who helps entrepreneurs learn how to step away from their business. He is the author of three fantastic entrepreneurial books and he has a new book that just released called Clockwork. Clockwork is a book that helps entrepreneurs design a business that runs itself. If you are thinking of starting your own business or are already in your pretirement phase, you’ll want to hear this interview. Listen now to hear Michael explain why you should be able to step away from your company by designing a business that runs itself.

How to automate your business

To run a business on automatic you first need to train your mindset. Without the proper mindset, you won’t be able to spark the idea of automating your business. To get the business to move forward to where you really want it to be you have to get other people to do work in the business. Running a business on automatic doesn’t necessarily mean that there are robots involved, although there are many automated systems that can help achieve this. An automated business means that there is a consistent, predictable outcome without effort from the owner. Listen to this episode to hear why the entrepreneur’s job should be to achieve the predictable outcome achieved by automating the business

Why do entrepreneurs end up working harder than if they just had a job?

Many entrepreneurs start a business with everything they’ve got. They work so hard to get their business off the ground that they think they must continue to do everything on their own. This isn’t true. Oftentimes, the owner’s way of doing things isn’t even the best way. As your business grows it is important to be able to hire people to specialize in certain areas so that you don’t have to be the one doing everything all the time. Being able to remove yourself from your business for a period of time is a great way to determine just how successful the business really is. Listen to this episode to hear Michael Michalowicz describe why it is important to learn how to step away and create a business that runs itself.

The 4-week vacation

Just about every element of most businesses happens during a 4-week period of time. This is why Mike suggests that preparing your business for a 4-week break from you is a great way to judge if you really have freedom from the business. This means there are several aspects to your company that must become automated. If an owner can remove him or herself for this amount of time then it is a business that can run itself. While you are taking this vacation, the time off can give you a completely different perspective on your business. Listen to this episode to hear how Michael Michalowicz describes why a 4-week vacation is exactly what an entrepreneur needs.

Your business is only worth what someone is willing to pay for it

Many entrepreneurs are so involved in their business that there is no way to extract the owner from the business itself. This makes the company worthless from a sales standpoint. By making the company all about the owner, you are actually making it impossible to sell. When entrepreneurs go to sell their business they often think of the blood, sweat, and tears that went into it and base their sale price on that. But this is not the true value of the business. The only amount a business is worth is the amount that someone is willing to pay for it. Listen to this episode to hear how Michael Michalowicz explains how to increase the value of your business.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

  • [2:22] The earlier you start getting your business processes in place the better off your business will be
  • [6:28] Mike Michalowicz discusses his new book, Clockwork
  • [8:10] Why do entrepreneurs end up working harder than if they just had a job?
  • [10:08] Mike defines the term “automatic”
  • [11:18] The 4-week vacation
  • [20:46] Your business is worth only what someone is willing to pay you
  • [23:40] What makes 4 yr olds happy?
  • [25:06] What can you do to start extracting yourself from your business

Resources Mentioned In This Episode

BOOK - Clockwork by Mike Michalowicz

BOOK - Profit First by Mike Michalowicz

BOOK - The Pumpkin Plan by Mike Michalowicz

Roger’s YouTube Channel - Roger That

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

 

Direct download: RAM237.mp3
Category:general -- posted at: 6:00am CST

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