Episodes

  • The Closest Thing to a Sure Thing, Ep 368

    The Closest Thing to a Sure Thing, Ep 368
    Sep 30 2024
    Are index funds really the "sure thing" in investing, or do our emotions get in the way? To help answer that question, we’re going to talk about a Wall Street Journal article by Jason Zweig, which demonstrates the simplicity and challenges that come with investing in index funds. While these funds are designed to replicate the market at a low cost, actual investor behavior is what can lead to underperformance. We’ll talk about why sticking to this seemingly easy strategy is harder than it looks and explore how to avoid the "behavior gap" that keeps investors from reaching their full potential. Next, Brett and I team up to tackle a listener question about estate planning. If you’ve already got a financial plan in place but need help with wills, trusts, and powers of attorney, this segment is for you. We break down what estate planning tools you need to protect your family and your assets, and we’ll also get deep into when it's time to involve an attorney. Estate planning may not be fun, but having a plan in place can prevent huge headaches down the road. Outline of This Episode [0:20] Index funds are a sure thing...right?[2:51] Understanding the behavior gap[4:00] The temptation to sell[7:00] Boring but effective[13:17] A real-life coffee conversation[17:42] Estate planning essentials[19:50] Powers of Attorney: Why you need them now[21:47] Don't forget your parent’s estate plan[23:50] Navigating health care directives[25:00] Final thoughts: Simple, yet hard to do Resources & People Mentioned Messing Up the Closest Thing to a Sure Thing in the Stock Market, by Jason ZweigMind the Gap 2024: A Report on Investor Returns in the USThe Retirement Podcast Network Connect with Wall Street Journal contributor Jason Zweig Jason Zweig, Wall Street Journal profile Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/startGet the Retire-Ready Toolkit: http://retirementstartstodayradio.com/Follow Ben on Twitter: https://twitter.com/retiremeasapJoin the newsletter: https://retirementstartstodayradio.com/newsletterDive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
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    27 mins
  • Lessons From Another ‘Faux-tirement’, Ep #367

    Lessons From Another ‘Faux-tirement’, Ep #367
    Sep 23 2024
    How can we better prepare for a successful retirement? We’re exploring the lessons from a recent article by Christine Benz of Morningstar, where she reflects on her six-week sabbatical and how "mini-retirements" can help us test the waters before we fully retire. We talk about how the luxury of unscheduled time, balancing purpose, and the importance of finding joy in small moments can shape our ideal retirement experience. I also have a listener-inspired segment on protecting personal data in the age of cyber threats and data breaches. Outline of This Episode [00:58] How should we handle data breaches and protect our information in retirement?[03:02] Lesson 1: Why is unscheduled time an underrated luxury?[05:15] Lesson 2: Why having a sense of purpose is crucial in retirement[06:49] Lesson 3: How hard is it to balance leisure and obligations in retirement?[08:47] Lesson 4: What joy can we discover in small moments during retirement?[10:26] Brett Mulvaney shares how he got started in financial planning[14:08] Steps for protecting your Social Security and tax data after a breach Resources & People Mentioned The Retirement Podcast NetworkChristine Benz’s Lessons From Another ‘Faux-tirement’Christine Benz, How to Retire (Morningstar)IRS Identity Protection PINSocial Security Online Services Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/startGet the Retire-Ready Toolkit: http://retirementstartstodayradio.com/Follow Ben on Twitter: https://twitter.com/retiremeasapJoin the newsletter: https://retirementstartstodayradio.com/newsletterDive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
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    22 mins
  • Six Lessons From Six Years of Retirement (from Fritz Gilbert’s Retirement Manifesto), Ep # 366

    Six Lessons From Six Years of Retirement (from Fritz Gilbert’s Retirement Manifesto), Ep # 366
    Sep 16 2024

    Are you actually prepared to navigate the complexities of retirement? We’re exploring Fritz Gilbert’s Six Lessons From Six Years of Retirement, shared from his blog The Retirement Manifesto.

    One by one, we’ll walk through these lessons, keeping in mind that retirement is an evolving journey, not a static experience. For those who still need to optimize their post-work life, these lessons will show you a roadmap.

    We then talk about a listener question about portfolio management—whether to prioritize Roth conversions or refilling cash buckets when your investments outperform expectations. We get deep into the importance of tax diversification and flexibility in retirement, especially why having options—whether it’s a Roth, brokerage, or IRA—is absolutely crucial when facing financial uncertainties.

    If you’re preparing for or already navigating retirement, today is an excellent lesson from the ‘upperclassmen’—those a few years ahead of us in the retirement game.

    Resources & People Mentioned
    • The Retirement Podcast Network
    • Original Six Lessons article by Fritz Gilbert (and The Retirement Reality Series)
    • Dan Sullivan’s The Strategic Coach program
    Connect with The Retirement Manifesto Author Fritz Gilbert
    • Fritz Gilbert’s The Retirement Manifesto
    Connect with Benjamin Brandt
    • Become a Client: www.retirementstartstoday.com/start
    • Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/
    • Follow Ben on Twitter: https://twitter.com/retiremeasap
    • Join the newsletter: https://retirementstartstodayradio.com/newsletter
    • Dive deeper into retirement planning with Ben at www.RetirementIncome.University

    Subscribe to Retirement Starts Today on

    Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
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    18 mins
  • Freedom or Free-fall (Tom’s Story), Ep 365

    Freedom or Free-fall (Tom’s Story), Ep 365
    Sep 9 2024

    Retirement is not just a transition from work to leisure. It’s a continuous journey of self-discovery. We explore the story of Tom, who reflects on the emotional and financial challenges he faced after leaving a successful career. From adjusting to a fixed income to finding new ways to matter outside of his career, Tom’s experiences give us valuable lessons for those nearing retirement.

    In light of Tom’s story, we talk more about Roth conversions and the evolving rules surrounding Required Minimum Distributions (RMDs). We’ll tell you how to manage Roth conversions, even after reaching RMD age, and the importance of tax planning as part of a truly comprehensive retirement strategy.

    Learn how to make smarter financial decisions as you prepare for (or continue through your continuous journey of) retirement.

    Outline of This Episode
    • [2:06] What challenges arise when going from a fulfilling career to retirement?
    • [3:11] How do you cope when you’re no longer excited about retirement?
    • [5:31] Can part-time work in retirement bring meaning or just fill time?
    • [4:56] How do you adjust to losing status and income?
    • [4:03] Why is adapting to a fixed income harder than expected in retirement?
    • [9:46] How many Roth conversions can you make after turning 73?
    • [10:41] Is converting IRA funds to a Roth still a good strategy after RMD age?
    • [12:07] What happens if you delay your first Required Minimum Distribution (RMD)?
    • [13:50] How do changes in tax laws impact retirement decisions?
    Resources & People Mentioned
    • The Retirement Podcast Network
    • Tom Pendergast’s Blog: Out Over My Skis (Retirement Freedom or Free Fall article)
    Connect with Tom Pendergast
    • Tom Pendergast’s Blog
    Connect with Benjamin Brandt
    • Become a Client: www.retirementstartstoday.com/start
    • Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/
    • Follow Ben on Twitter: https://twitter.com/retiremeasap
    • Join the newsletter: https://retirementstartstodayradio.com/newsletter
    • Dive deeper into retirement planning with Ben at www.RetirementIncome.University
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    18 mins
  • How Does Inflation Impact Retirement? Ep #364

    How Does Inflation Impact Retirement? Ep #364
    Sep 2 2024

    You know inflation is something to consider in retirement, but how much should you worry about it?

    On this episode of Retirement Starts Today, we’ll explore an article from Of Dollar and Data that dives into the nitty gritty of inflation by analyzing three hypothetical retirement scenarios.

    Learn how to plan for any eventuality so that you can better prepare for rising costs as you age.

    Outline of This Episode
    • [2:02] How inflation impacts retirement
    • [9:10] In conclusion
    • [11:05] Do balanced funds make sense in the distribution stage of retirement?
    Resources & People Mentioned
    • The Retirement Podcast Network
    • Our Annual Listener Survey
    • Of Dollar and Data
    Connect with Benjamin Brandt
    • Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/
    • Follow Ben on Twitter:https://twitter.com/retiremeasap
    • Join the newsletter: https://retirementstartstodayradio.com/newsletter
    • Dive deeper into retirement planning with Ben at www.RetirementIncome.University

    Subscribe to Retirement Starts Today on

    Apple Podcasts,Stitcher,TuneIn,Podbean,Player FM,iHeart, orSpotify
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    19 mins
  • Permission to Spend in Retirement, Ep #363

    Permission to Spend in Retirement, Ep #363
    Aug 26 2024

    In retirement, retirees make the big switch–drawing on savings rather than contributing to them. This is often when the trouble comes–the psychological hurdle comes when it’s time to start spending your hard-earned savings.

    In this episode, you’ll learn how to understand the mental barrier that comes with the big switch and learn strategies to overcome it. Listen to learn how to use your retirement funds without guilt or fear of financial instability.

    Outline of This Episode
    • [1:22] Will you need permission to spend in retirement?
    • [4:06] Strategies to overcome your mental hurdle about spending
    • [14:57] How do you handle the taxes from different types of income?
    Resources & People Mentioned
    • The Retirement Podcast Network
    • Annual Listener Survey
    • Morning Star article
    Connect with Benjamin Brandt
    • Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/
    • Follow Ben on Twitter:https://twitter.com/retiremeasap
    • Join the newsletter: https://retirementstartstodayradio.com/newsletter
    • Dive deeper into retirement planning with Ben at www.RetirementIncome.University

    Subscribe to Retirement Starts Today on

    Apple Podcasts,Stitcher,TuneIn,Podbean,Player FM,iHeart, orSpotify
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    25 mins
  • How Do You Know It’s Time to Retire? Ep #362

    How Do You Know It’s Time to Retire? Ep #362
    Aug 21 2024

    Knowing when to retire is not just an economic decision; it’s highly personal. In an era where your work is with your identity, deciding when to retire can feel monumental. So how do you know when the time is right? That’s what we’ll explore in today’s episode.

    In addition to discussing this retirement headline, Bret Mulvaney joins the show again to help me answer our listener question. Press play to listen.

    Outline of This Episode
    • [1:06] Retirement Starts Today updates
    • [3:48] How do you know it’s time to retire?
    • [12:35] Does bank health matter if it is FDIC insured?
    Resources & People Mentioned
    • The Retirement Podcast Network
    • Vox article
    • Dan Sullivan - The Strategic Coach
    Connect with Benjamin Brandt
    • Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/
    • Follow Ben on Twitter:https://twitter.com/retiremeasap
    • Join the newsletter: https://retirementstartstodayradio.com/newsletter
    • Dive deeper into retirement planning with Ben at www.RetirementIncome.University

    Subscribe to Retirement Starts Today on

    Apple Podcasts,Stitcher,TuneIn,Podbean,Player FM,iHeart, orSpotify
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    21 mins
  • Tightwads vs Spendthrifts, Ep #361

    Tightwads vs Spendthrifts, Ep #361
    Aug 12 2024

    Do you feel pain when spending money? Or perhaps it’s the opposite, and you spend a little too freely without much thought, pain, or remorse?

    In this episode of Retirement Starts Today, we’ll explore an article on how to make the most out of retirement by trying to land somewhere in the middle of the spending spectrum. Whether you find yourself to be a “tightwad” or a “spendthrift” you’ll find this episode to be a helpful exploration of gaining happiness from your retirement spending plan.

    Outline of This Episode
    • [1:22] The two types of money people
    • [5:20] Pre-establish pivot points
    • [11:45] How to deal with rising insurance premiums
    Resources & People Mentioned
    • The Retirement Podcast Network
    • The Wealth of Common Sense
    Connect with Benjamin Brandt
    • Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/
    • Follow Ben on Twitter:https://twitter.com/retiremeasap
    • Join the newsletter: https://retirementstartstodayradio.com/newsletter
    • Dive deeper into retirement planning with Ben at www.RetirementIncome.University

    Subscribe to Retirement Starts Today on

    Apple Podcasts,Stitcher,TuneIn,Podbean,Player FM,iHeart, orSpotify
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    19 mins