Tag: Retirement Transition
Transitioning to Retirement Part 3 (One year prior!)
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
congratulations you'' re going to retire in much less than one year the train has left the station we are delighted for you and also today we'' re mosting likely to concentrate on the last one year before you go out the door yet prior to you enjoy this video ensure you'' ve seen the prior 2 video clips in this series this is video clip 3 in a collection of 3 the very first one was five to 10 years out the second one was one to 5 years out as well as this is your last year so i'' m confused is this video clip one 2 or three 3 3 right here we go you recognize your emotions might be a mix of excitement expectancy and stress and anxiety as well as stress and anxiety or perhaps even fear what am i gon na do when i walk out this door so keep in mind in video clips one as well as 2 we offered you crucial strategies and action things to bring to this point so see to it you have them in line today we'' re gon na provide you some steps to take that ought to alleviate the stress and anxiety and also improve the enjoyment we want you to be completely planned for some of the crucial dangers and sensations that are mosting likely to involve you as well as the ones we talk a lot concerning in our area the first one is the feeling of being irrelevant as well as you might feel that currently as quickly as you reveal a retired life day you may really feel and also you will be changed that occurred to me i revealed my tipping down as the workplace leader 2 years prior to i left and also the following day the next monday where i'' m for 38 years i was leading the weekly leadership team conference i wasn'' t even'invited i ' d walk past and everyone ' s checking out me they wear ' t even swing at me so it is a real sensation that you'' re either going to obtain or you might have now so possibly you can associate with that to make sure that feeling of irrelevance results in a loss of identification and also we chat a great deal concerning that threat also when people ask you what do you do that do you function for what'' s your e-mail address what do you stand for a whole lot of it over the years had to do with your company and also your corporate career the various other threat actually is time abundance as well as it ' s not constantly a danger but we have a youtube video clip we did on this that ' ll the link will be listed below yet you ' re going to get 40 plus hours of downtime to come your means as well as i truly over used this my last 2 years of job due to the fact that i was semi-retired i really began can be found in late and also going home very early and how early did you get home well you were still working and i wasn'' t but honestly i would certainly 2 o'' clock check out my workdesk emails were done i had nothing to do i'' d go residence and also i ' d beginning watching tv i got addicted to ellen and i assume red white wine and also merlot afternoon merlot so i was i was dropping a poor path utilizing this moment affluence badly right ideal and also the last of the dangers that we desire to make certain that you'' re knowledgeable about which you address which you hit head on is this suggestion of loss of area this can be harsh for a lot of individuals your work typically becomes your family members your work frequently becomes your friends your finest pals and also how do you change those partnerships when you move right into retirement so today what we'' re mosting likely to do is'we ' ve created a checklist a checklist to consider for the following twelve month and also it has 3 components there'' s a link down below it'' ll be remaining on our internet site and also we'' re mosting likely to upgrade it as we choose because it is a liquid process the much more we discover the even more we can put in but there'' s three components the very first part is profession work associated the second component is an individual list and also after that the last component is actually is type of fun your very first week in the house so on the career the first point you require to have a conference with hr and also you need to speak about your pension plan your 401k your medical insurance cobra and also if your firm has outboarding assistance you must most likely use it which'' s where a whole lot of structure will begin to take place for you in this last year getting deep understanding of these areas the next point in your profession transition you do require to speak with your colleagues you require to discuss your transition as well as your substitute and how you can assist make that smooth your management group i recognize i invested a great deal of time with my management group before i left i not just informed them independently but i hung out making sure they were set for success after i was gone and after that there'' s naturally your colleagues and all of your customers yes there'' s a great deal of people that you need to have a process to i put on ' t wish to utilize words uncouple yet have a change right you recognize are they going to become part of your life in retirement or otherwise it ' s amusing still while under this profession umbrella you need to assume about how you'' re mosting likely to interact with these people right after you leave i keep in mind that my last day i wrote this great email i keep in mind that corporate e-mail and also i sent every person a note and just how grateful i remained in 38 years and i wish you all do well as well as right here'' s my individual email in instance any individual wants to contact me and all week long i waited and waited as well as waited and also waited are you still waiting no i got one email back as well as it'' s not a representation of that i am it'' s simply that when you'' re gone you ' re gone but the various other thing around identity and e-mail is there was a little bit of a mix for me between my job and my my my job my individual life because i possessed the firm well that does happen privately held companies especially ones that you have my own was corporate so it wasn'' t as much of a but here ' s things to consider as i began to get near completion of my time there i realized that i had my my browser went to help all my bookmarks my login e-mail was my job email my my passwords were all saved somewhere so you'' ve got to obtain all of that into your personal email as well as some people put on'' t even have an individual email when they retire so you require to have a gmail or something like that as well as start moving every one of that out i will certainly tell you when you walk out the door it'' s hard to return in to get access to anything best as well as communication is one of the other elements of this interior as well as external you need to actually begin to make a listing of the people you wish to remain in touch with and also something i didn'' t do very properly you have to provide people a possibility to bid farewell when i left my occupation after 33 years i didn'' t intend to party i didn'' t desire all individuals concerning pay homage i figured i would remain in touch with who i desired to yet i didn'' t see it from the other perspective you do have to give individuals an opportunity to state goodbye now depending upon what you'' re mosting likely to do after you leave are you mosting likely to have another job a second occupation whatever you may want to take some of your historical records several of your presentations a few of your work item you might intend to update your resume you might desire recommendation letters because you can use every one of this to parlay into a consulting task or coaching job or something like that so you truly wish to consider doing that as well as the sooner you do that the far better clearly and wear'' t neglect you still have one year that you'' re working so search for opportunities to coach others as well as help your associates with any type of promos or any self-confidences that they need after you'' re gone all right to make sure that'' s the that ' s the job job component and also once again this is going to reside on our internet site yet the 2nd part of the checklist is a personal checklist so we'' ve discussed this in all 3 videos you should now have an economic planner in area an independent expert who can help you make some decisions and also congregate your financial information we are so shocked at the number of of the clients that we consult with that are wed with youngsters and also retire no wills absolutely nothing that'' s this is a wonderful time to obtain that done so you leave job and you have all of that arranged you recognize and afterwards on a much more personal note you require to notify your family of your day when you'' re leaving what your plans are and also especially make the moment to get in alignment with your spouse see to it you know what their strategies are and just how you fit in and exactly how they match your own understand just how your retirement is mosting likely to impact the individuals around you so allow'' s speak concerning that momentarily since that ' s truly essential there are so lots of pairs that have fantastic relationships they both function they both have job close friends they'' re hectic all day long they fulfill for dinner they'' re with each other on weekend breaks and all of an abrupt they'' re thrown in together as well as they don'' t recognize what to do they wear ' t know exactly how to engage you understand 8 hours a day or possibly among you is retiring previously or possibly among you has been retired for 10 years as well as you know if jody had actually retired one decade earlier then i turn up she'' s obtained her stuff with each other well like my mother constantly said i loved you for life but not for lunch right so so this is a this is an important location and also once again in our online training course we have a whole lot of tools and methods to assist with this yet don'' t take this lightly we'' ve stated this in all three of our videos make certain you share your retired life prepares with others as well as your good friends and as well as a team that may likewise have retired in advance of you associates and close friends that you recognize that can help support you via this shift currently one of the important things you could wish to consider we had a client consider this is a space year yeah now we have a customer who claimed you know what i'' ve owned this company i'' m a 2nd generation proprietor i'' m financially established i put on'' t requirement to work now however i made a bargain with my partner that i'' m mosting likely to take a void year and the huge thing is i assured her i would certainly say no to any type of opportunities that occurred for a whole year right and also that gave them an opportunity to just kind of hang out and discover their rhythm and also discover a rhythm and also it worked truly well yeah however the one point you can do is you can volunteer you understand that'' s offer you something you know an hour a week two hours a week something just to maintain you rather active as well as the last component of the checklist is type of enjoyable prepare for your initial week in your home start believing about regimens that will serve you during that initial week and provide you power don'' t just let the day unfold appreciate some down time certainly the liberty but wear'' t squander the time there is this excellent feeling of freedom that comes as well as this relief of not needing to go to work and also not having conferences as well as not having planning and also not considering financials however the important things is suddenly currently you'' re not really certain what to do so if you did the planning we stated in the initial two videos you must truly have a prepare for the five columns physical health psychological wellness partnership spouse partner and wisdom sharing as well as area so you must have that so you have a suggestion but one of the important things you could do to maintain busy i i did this because i'' m a handy man i made a checklist of the home repair work that that i'' ve disregarded right and i still place'' t done any of them and the other thing you'can do well you ' ve done some not almost the other point you can do is place some placeholders on your schedule you know consider what a beginning of a routine could appear like for you you understand coffee with a close friend once a week on a monday you understand some type of activity physical activity activity tuesday and also thursday you recognize perhaps you can have a golf day or take some self-care on fridays you know find a way to integrate a bit of routine 2 points that we did we all of an abrupt put self-care in front we started to care for ourselves which'' s consuming appropriate exercising as well as all of that massage therapies whatever it may be however the various other point is an early morning routine now we'' ve serviced this for 4 years currently our morning routine is dialed in it didn'' t happen overnight it didn'' t operate at first it was tough however we both stand up really early jody'' s in the yoga studio i ' m in the fitness center i meditate i journal i try to see the sunrise wherever i am we come back with each other uh we have coffee yet the morning regimen by the time it'' s nine o ' clock we both have been up for most likely 3 hours occasionally four and absolutely nothing can go wrong in the day right since we figured it out it'' s truly all about anchoring some things on your calendar knocking senseless some points during the day also if it'' s as simple as going to the bookstore as well as getting a few publications you know locating a long time to research points like trips or areas to volunteer or brand-new points to discover at a neighborhood community university locate ways to secure time on your schedule that initial week so it doesn'' t pass in a blur before you recognize it you'' ll be 3 years right into it and place'' t fairly figured it out yet now this last year at work it'' s gon na fly it ' s gon na fly by we want you to do all you can to be prepared for the last day if you follow our suggestions in these three video clips you will have clearness purpose energy as well as direction and also you'' ll land softly right into this phase of your life we wish you appreciated this and if you did please show to your buddies to make sure that they get the advantage of what we discussed today yet likewise subscribe by clicking the subscribe switch listed below and also ultimately join our complimentary facebook neighborhood the web link is also in the notes listed below thank you so much for listening and also we anticipate being with you once again soon
Single Retirement (7 Tips to Ward off Loneliness)
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
there'' s 10 000 people turn in 65 on a daily basis as well as one half of this population is reaching this age by themselves so you'' re not the only one in this stage you need to know that you aren'' t alone but retiring solo does raise your danger of in fact being lonely which can have detrimental influence on your health and wellness today we'' re mosting likely to chat regarding retiring alone or the new buzzword of solo retirement so if you'' re watching this as well as you state well that doesn'' t apply to me as well as you'' re a woman remain tuned the reason i claim that is unfortunately seven out of ten or seventy percent of child boomer aged ladies really outlive their husbands what are you gon na perform with that why are you laughing what are you gon na do without me i don'' t understand what i ' ll finish with that party anyway there ' s 10 000 individuals turning 65 each day and one half of this population is reaching this age by themselves so you'' re not the only one in this stage you require to understand that you aren'' t alone however retiring solo does raise your threat of really being lonely which can have harmful effect on your wellness so this concept of psychological solitude you recognize that people over 65 that deal with that they have an 18 increase in their death rates which is terrifying so today we'' ll offer you 7 approaches to help fend off isolation and conquer isolation to live a more meeting life as a solo retiree so here'' s the initial method and this is actually important conquering your financial insecurities currently if you are a single female now or a bachelor and you'' re retiring and also you put on'' t really guide your finances that'' s an issue as well as you'' re mosting likely to be stuck and suppressed as well as not be able to relocate onward so you need to employ a monetary planner and also understand your finances as well as truthfully if you'' re a couple watching this and among the two of you truly obtains funds well as well as the other one doesn'' t that ' s not a great place to be no if you ' re paying attention to this both of you should listen as well as share the monetary details along with the financial problems now because ultimately if you listen to that first fact if you'' re a lady 70 people will finish up as a solo retiree outliving our companion that'' s simply the case history that'' s just the truths you recognize there are friends down the road that acquired your home from this senior pair and also regrettably her other half died and also she determined she intended to downsize she mosted likely to offer the house they obtained right down the roadway to the closing right and also realized he had actually never changed the title of your house so it took an additional three months to shut and also it'' s just since she had no concept they weren'' t really sharing the details so it is actually essential yep so obtain your finances in order we'' re not economic planners yet most definitely locate one that was strategy primary approach number 2 produce a little support group of peers like mark claimed you'' re not the only one there are lots of various other people in the exact same place as well as you wish to be able to share your battles and also successes with them yep since it'' s it ' s difficult to be alone and it ' s hard to really be alone however if you can be alone with another individual that'' s alone after that you ' re not the only one any longer right that makes good sense ideal type of yes excellent concept i indicate you can do once a week coffee you understand get a course or do some exercise or even just take a lengthy stroll it'' s important to make certain that you connect as well as have a group of peers yeah relationships are essential as well as having a support team truly aids so method three is along the lines of that however we'' re truly recommending that each day you talk with someone on the phone and also person whatever it may be make certain you have a conversation with another human being every solitary day as well as it might make sense to make a list of individuals that you can call definitely makes sense you understand family and friends and also next-door neighbors you understand and also never feel like you'' re imposing and also like mark stated put on'' t allowed a day pass that you ' re not associated with a discussion currently it'' s constantly much better personally since it really feels better yet if you can'' t remain in individual poor climate you know covet kept all of us secured a little a minimum of call but be there and also truthfully what'' s handy is not only for you to connect to obtain some interaction assistance yet be the one supporting other people that'' s a great way to begin having some discussions in a peer team that you'' re leading it so get in touch with somebody daily method number four have a day-to-day plan and also a timetable something that adds structure to your life to ensure that you'' re not constantly wondering what am i going to do today what'' s the early morning going to be like exactly how am i going to make it through the mid-day actually set the tone from the day in the morning now excellent routines and also regimens are necessary and also i recognize a lot of people that like to rise they'' ve functioned their whole life and they'' re retired now and also they wish to rise as well as just have a mug of coffee and watch tv view a little much more television have some even more coffee yet prior to you understand it it'' s 11 o ' clock as well as you sanctuary'' t talked to any person as well as you truly sanctuary'' t done a lot so establishing some timetable and also some time some self-care time with good friends and also truthfully restriction tv i mean i you recognize enjoying tv every early morning from 7 a.m till noontime it'' s not healthy and balanced no but you can even arrange time to find out to choose up a course to go to the collection to review to children to find things in your community that you might do to be valuable and also that makes you not alone and isolated so here'' s the fifth method and you ' ve heard this from us so numerous times as well as it just makes a lot feeling this does come up in a great deal of our video clips since it helps in so numerous locations of your life the fifth approach is workout every solitary day relocate your body relocate it stand up and also move it do you recognize that if you stroll 20 mins a day daily for 20 mins you can include 5 years to your life so what about strolling with a close friend and also 20 mins that'' s simple stroll for half an hour with someone and have a conversation and also catch up so you'' re now you'' re working out and also you ' re connecting with someone you recognize as all of us age movement does come to be harder but you need to be as active as you can as well as simply know that you can do 20 mins a day so we wish you do that take it seriously so currently let'' s chat about technique number six volunteering you know there ' s a lot of advantages with volunteering and also it'' s end up being such a huge part of our retirement transformation program as well as you recognize we do bring it up a great deal volunteering sharing your knowledge creating your community you know offering on your own with fulfillment sharing and also browsing your enthusiasms we bring that up a lot but it does assist with this isolation and also the capacity for seclusion you understand you instantaneously can locate an area of people when you start to volunteer as well as maybe as basic as operating at the regional food bank or the collection or something but you'' re mosting likely to find loads of other individuals in the exact same position you remain in trying to find areas so it'' s really essential to offer this a shot definitely method number 7 would be to attempt brand-new points discover modern technology mark and i did a talk eventually and there was a number of individuals in the space and also one girl increased her hand chatting since we were raising this strategy about discovering technology her name was ava she raised her hand as well as she chatted concerning the globe that technology available to her enabling her to connect with her family members over in italy and also how they structured it just how she discovered face time exactly how she found out zoom how she discovered to be able to work all of the innovation in her house to actually ward off that solitude and you recognize exactly how she did it remember her story she got among her grandchildren to rest with her and also service the apple iphone with her to learn how to do face time she couldn'' t believe in her mind that it could occur and after that ultimately just how very easy it was for her right so but it truly made her feeling linked and also much less lonesome and also i assume utilizing innovation in that means is really wise and also pick up from a younger person it'' s wonderful in a neighborhood to have individuals your very own age and people more youthful so and also while you'' re discovering modern technology look for on the internet courses that are available seek some on-line learning that can involve you i did that when i mosted likely to the college of pennsylvania and also i took an entire online online course and i got to focus with other youngsters university youngsters college children as well as i was the old woman however that was excellent and also i made a great deal of wonderful contacts doing that no a big thing to keep in mind is you'' re not alone you can ward off this solitude however you need to be proactive service the 7 methods we simply mentioned over and also listen if you appreciate this please show your buddies and also please subscribe by clicking the subscribe switch below put on'' t fail to remember to join our complimentary facebook neighborhood the web link is down below as well as it'' s very interactive where jody as well as i go live every week you reach ask inquiries and also we can communicate with each other and many thanks for paying attention and we expect seeing you once more
Transitioning to Retirement Part 2 (1 to 5 years before retirement)
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
yeah hobbies is a huge point since a great deal of individuals claim i don'' t recognize what i ' m going to perform in retired life since i have no hobbies but they ' ll claim i put on ' t play i have no pastimes so you need to you ' ve obtained five years to start to believe regarding that a great deal of people wait till it ' s too late as well as there ' s so much stress and anxiety on'them they have no leisure activities they put on ' t know where they wish to live they ' re not speaking to'their partner we wish to protect against every one of that today we ' re chatting concerning transitioning right into retirement as well as this is sequel of our three-part series if you bear in mind and also if you enjoyed it the very first component is five to ten years out today we'' re going to concentrate on your preparation and points you require to do one to five years out prior to you leave your organization and also enter this third stage you recognize this is mosting likely to be a difficult change in your life if you aren'' t prepared and also if you put on ' t plan when we entered this stage we tried to find assistance we looked anywhere however the only point we can find was economic planning aid which'' s not what we required which'' s why we started this company since we realized we were struggling a bit and needed to determine how to pivot to make this time around of our life just as good as maybe so here we are retired life transformed partly one which was 5 to 10 years out we provided you 4 approaches to function on the very first was intending the secondly was recognizing dangers and also when we speak regarding dangers in retirement it'' s points like your loss of identity as well as developing a new identity your loss of area and producing a new area and those 40 hours of cost-free time that everybody returns the various other point was constructing a vision for your retirement five to 10 years out you desire to begin believing what is it going to appear like and also you also the 4th point is start assuming regarding practices as well as routines what are some excellent habits you intend to advance what are some bad ones you require to quit we wish to make sure you return as well as view that episode the web link is pasted below in the notes so we'' re going to build on those approaches today as we look at the one to 5 years out you know as well as in this amount of time by currently one to 5 years from your retired life day you do require to have a financial coordinator in place therefore you have the economic organizer your vision ought to start being clear and assuming it'' s your choice to retire you have a period as well as a day you know you have to start obtaining comfortable with the idea and getting more total quality time is mosting likely to pass truly quickly now you know we both retired a great deal earlier than we assumed and also because of that we weren'' t prepared you recognize i was at the peak of my occupation as well as i made a decision to offer my firm i was 55 years of ages as well as i intended on working one more 10.
Everybody wants to function to 65 right however i just helped five as well as you understand all at once my firm was offered to a rival and i remained during the assimilation for 3 complete years however i found that it wasn'' t going to benefit me anymore so with each other in december of 2018 we left together as well as our access into retired life was rough you know we we invested a year traveling the world we mosted likely to italy uh florence uh where else are we london london bora bora bora bora was terrific however we did that we captivated friends and family for a summer that seemed like a year we recognized we didn'' t truly have a function and also someday we looked in the mirror and also neither of us liked what we saw no we didn'' t we didn'' t we didn'' t we didn ' t appearance good and also we didn ' t feel good as well as the important things is we put on ' t desire that for you this shift is difficult as well as the extra ready you are the better opportunity of success you ' ll have so here ' s some added actions that you should be taking one to 5 years out prior to retirement currently this originates from our experience our success and our failures but also from most of the clients that we collaborate with you understand the initial point we'' re mosting likely to ask you to do and also you may roll your eyes is to buy a journal aligned or unlined journal an economical journal just something to begin creating in something you can start recording your thoughts and we'' re mosting likely to offer you a little structure on that however composing is much better than online typing it start recording your thoughts your sensations your struggles and also your successes you recognize the reason that composing is far better than digital is it compels you to actually reduce you can'' t obtain words out quickly enough so you have to really assume of the words as well as create them and you preserve it better when it'' s electronic also if you'' re an excellent typist you can simply bang them all out'you ' re not actually permitting your mind to decrease and also focus so journaling and also composing is truly crucial it'' s funny when you claimed bang them all out due to the fact that you'' re a one finger typer 2 fingers this set which one anyhow be a location for you to gather your ideas however even more significantly to damage up your journal right into containers as well as i'' ll inform you among the buckets can include our 5 pillars physical health mental health connections that you want to strengthen or release your spouse companion alignment or imbalance anywhere it could be and also the last pail is wisdom sharing you want to start thinking of what is it you'' re going to do after your profession ends to obtain fulfillment to profit all of your skills as well as your experiences to to to serve others in a way like what jody as well as i are doing with this service and also you desire to start listening to your voice and also creating it down and also we'' re really mosting likely to go deeper on wisdom sharing today since that'' s for the next five years you really wish to start considering exactly how that'' s mosting likely to fit right into your life so this journal is mosting likely to include sort of where you are now and also you'' re going to put some reaching declarations in to identify where you'' d like to be and after that you ' re going to have the ability to do some research and also arrange your thoughts right and also a few other locations to place in the journal to start believing about is itinerary if you intend to travel compose it down and figure it out and also begin thinking of it we have the best traveling agent by the way that assists us figure some points out however you additionally may desire a villa right and also you additionally may desire to think where do you desire to stay in the next 30 years right as well as how'' s that going to effect or impact or include your youngsters and family just how does that where you live just how does your location effect your pastimes yeah leisure activities is a huge point because a great deal of individuals state i don'' t know what i ' m mosting likely to perform in retired life due to the fact that i have no pastimes or they ' ll claim i put on ' t play i have no hobbies so you have to you ' ve obtained five years to begin to consider that a whole lot of individuals wait till it ' s too late as well as there ' s so much stress on them they have no leisure activities they put on ' t understand where they wish to live they ' re not speaking to their partner we want to prevent all of that we likewise wish to provide you an area where you can take down some aspirational hobbies yeah maybe discovering a language or going to an art studio or getting a new sport start repainting start paint yeah mark'' s making fun of me since i want to start painting i simply place'' t had the time four years ago i provided you the entire paint kit the easel and also all of things as well as they'' re still in the wardrobe perhaps i'' ll go now alright okay there you go great 2nd thing to do we'' re mosting likely to focus the rest so the very first is the journal that was all the large journals get a journal and start writing right as well as you understand compose and afterwards put it away take it back out once more put some tabs in there on these various sections i believe you'' ll really appreciate it but allow ' s talk regarding knowledge sharon since this is actually a core element of your retired life changed and also among things that we did ourselves as well as we finish with our clients as well as we show this in a very deep method in our on-line training course is to find out some aspects of on your own so we desire you obtain a blank notepad and also we want you to put five columns in there going entrusted to best and the very first column actually is to detail all of the tasks and the functions you'' ve repeated your entire career or your life in the last 30 or 40 years and also sometimes it'' s simple to damage it right into buckets the last 10 the previous 10 whatever it may be sales function ceo and you wish to go back as far as you'' re comfy with i know for me i went back two decades i understand for mark he returned to his first work out of intermediate school which was reducing yards paper boi oh paper boi paper boi when did you cut grass after that because you copulated back i wasn'' t permitted to utilize lawnmower it was inadequate so you pick the moment frame that helps you but in that first column you want to provide all those jobs that you had and after that put the day since the day the second column the date just so you type of have a recommendation yet truly where it obtains intriguing is the third column we desire you to jot down what did you enjoy regarding that job what what delighted you regarding it why did you like it a lot what feeling comes to mind when you consider being a paper kid or cutting yards or appropriate i occur to be the globe'' s biggest waitress which aids me helps me be a good mama of 6 youngsters lugging plates the fourth column is possibly what did you dislike concerning that role since if you didn'' t like it you plainly do not intend to take up that kind of task right or that that solution in your retirement if you put on'' t like it and afterwards the collaborators of enemy is what has this work or role instructed you and after that to sum it up you intend to experience those sheets and also do an entire lot of them select your top 5 it'' s crucial it ' s all we desire you to do is what were the top 5 jobs or duties that you played in the last 30 years so that'' s probably a pretty large as well as a rather active sheet for the majority of people the second thing we desire you to do is list your staminas and values as they speak with you go via and note them and also get a top 5 for each stamina or value and once you have that combine that with your top 5 tasks and also see where you land and also start covering it you'' re gon na begin obtaining a little quality on what it is you believe you might wish to do the other thing to do as you'' re writing and also thinking of it you'' ve obtained you understand one to 5 years left of work start paying focus to your to your days now so you reversed now moving forward if you have actually determined sales leadership as something you such as really listen when you'' re doing it now you'recognize if you ' re a finance person and you love servicing spread sheets is that truly what you see on your own doing after so it'' s actually crucial it makes makes me think of that what was that book that uh we read um wisdom at the office by chip conley yeah we'' ll put those take down listed below wisdom at job by chip conley the making of a contemporary senior an awesome read it'' s a truly intriguing publication concerning his function in airbnb and also the various other point to do throughout this stage if you'' re not already is start offering in any type of means form or form you understand maybe at the food bank maybe anything but you intend to find a means to volunteer board service well i'' ll tell you it makes it much easier to discover your volunteering niche after you'' ve gone back and you'' ve considered what inspires you in various functions and also what your core values and also proficiencies and also where you get your juice from and afterwards you find out just how much time you have currently with the one to 5 years still working and afterwards you determine how to launch into a volunteering duty as well as every neighborhood requires you currently look these next 5 years are going to be a tough time they'' re going to go quick we don'' t desire you simply to coastline as well as all of an abrupt end up believing oh my god i'' m leaving in year the next video is regarding the last one year however we want you to do whatever we spoke about in the initial video clip and this to get you all set for that which method you'' ll land in this phase totally prepared and pay attention if you enjoyed this please share with your friends as well as likewise please subscribe by clicking the subscribe button below and also put on'' t forget to join our free facebook community the link remains in the notes too it'' s a great area to begin to develop an area for your retired life stage many thanks a lot for listening and also we expect being with you once again quickly you
Read More
Why is Everyone So Tired in Retirement?
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
you understand after punching it out for over three decades in Corporate America I was tired when retirement arrived I actually required a break and I needed a break as well so we invested the initial few months in retired life really doing nothing absolutely nothing purposeful right well spending time type of careless mornings developing into lazy days right into careless weeks as well as perhaps even lazy months however we understood something had to alter or we were doomed we desired our desires of a fulfilling retired life to come true so we had to make some adjustments so today we'' re going to show you some methods that you can attempt so that you ' re complete of energy every day and take on anything that comes your means but before we go even more we'' d like to introduce ourselves my name is Mark Rollins and I'' m Jody Rollins and also we started retirement change not only for us but also for every one of you as well as the other 10 000 individuals turning 65 on a daily basis now we put on'' t concentrate on anything Monetary none of the aspects economically or retired life however we concentrate on way of life Wellness connections and also more and also listen if you'' re brand-new right here please strike the Subscribe switch and likewise the notification button so you'' ll get informed when our videos appear so let'' s delve into all the important things that have a tendency to make you as well as me tired specifically in retirement alright the initial point that obtains you tired too much downtime which might simply be for example watching too much television and also I put on'' t understand if you know this or otherwise yet the typical number of hours individuals over the age of 65 watch television every week is 38 hours a week that'' s like Lazy-bones disorder it is and also you need to beware keeping that because it does make you tired absolutely nothing wrong with seeing a Netflix collection or some television yet you can'' t do it six or 8 hours a day yeah absence of motion will truly maintain your body as well as your mind tired you have to locate methods to move your body even 20 mins a day simply going out stroll 10 mins One Direction as well as 10 minutes back and you will certainly really feel really various what occurs if you stroll seven mins one method and also four minutes back and after that you have to do 10 jumping jacks oh and afterwards all right because you'' re mosting likely to be late yeah but there'' s a scientific research study numerous clinical studies that state moving 20 minutes a day can expand your life by 5 years who wouldn'' t want that precisely precisely so the initial one is excessive downtime the 2nd one is inadequate nutrition and we understand you'' ve heard this before yet please simply make believe you'' re hearing it for the very first time poor food options junk food sweets and way too much consuming out or perhaps eating late is bad for you being mindful of what your comfort food is as well as how much you go to it is likewise something to be aware of yeah I assume that you recognize for us we'' re getting a whole lot much better with nutrition and actually due to the fact that we'' re beginning to really take note of what our purchasing tells us concerning rest and also exactly how we really feel yet likewise just our body when we placed specific foods in our body we really take notice of just how we really feel and also having white wine or drinks as well as a late supper in the evening we both recognize we'' re mosting likely to have a dreadful night'' s rest yet you didn ' t bite on home cooking home cooking I you recognize I need to keep away from home cooking fried poultry Oreo cookies chocolate chip cookies that'' s right stuff that my mom always made for me and it was Convenience I I need to keep away from that yeah and I recognize I understand it'' s tough to in retirement to steer clear of from a glass of wine as well as beverages perhaps that'' s me however um you just bear in mind it and also to give your on your own and your body a break from it is really a great feeling yeah and all of what we simply spoke about introduce the third uh thing to make you weary which is obtaining bad sleep and also truthfully we need to do an entire video clip on sleep because I simply looked and also we actually haven'' t spent adequate time on this and the relevance of getting an excellent evening'' s sleep many people require 7 to 8 hrs of good sleep in order to really feel excellent and have high energy definitely and you understand the consuming late as well much alcohol simply doesn'' t help that you a good section of our lives in Corporate America as well as you as a business owner enjoyable clients and also living in this way consuming late entertaining clients some a glass of wine with dinner and we knew it wasn'' t sustainable so what makes us think in retired life that that would be lasting well it'' s amusing due to the fact that our last 5 years of work really we were most likely working more difficult than ever we were entertaining more difficult than ever that was our typical and when we got to retirement that regular didn'' t benefit us it'truly didn ' t so you just need to be able and to believe concerning making some life adjustments as well as it ' s difficult yet it'' s achievable so we have sleep as the 3rd one good rest top quality sleep not simply time in bed right the 4th one is truly absence of regimens during your job you had your regimens wired I understand you did you had an early morning routine during your job and after that you were off to work and your day was intended a great deal of time your routine was filled up before you also entered into the office however many individuals go into retired life and also the last thing they intend to do is have a routine I know and you recognize we hear that a whole lot however we also learn through our clients when they start with a routine even a basic regular going to bed at the very same time standing up at the same time as well as it doesn'' t have to be 5 a.m like me I imply you wear'' t obtain up at 5 mins you ' ve got your own'regular I put on ' t sleep I do but you have a regular once they start connecting in a regular rising at the exact same time everyday plugging in a little bit of uh strolling for 20 mins as well as exercise possibly on top of that doing some reflection with an application like headspace mindfulness that really begins to kick in their energy degree as well as makes them feel better in their retired life stage as well as you recognize I truly resisted this concept of establishing a routine time to head to sleep and also a time to wake up in retired life and I wear'' t know if you remember I pushed back rather hard on Mark started at like 10 o'' clock we ' re gon na you know go to bed at 10 o ' clock or you understand he wishes to be in bed at 10 o'' clock which really many wished to be asleep at 10 o'' clock which suggested bed 9 30.
Yeah yet you also weren'' t going to let me go to sleep alone that ' s simply a me point right so you so you dragged in addition to it I did you laid there with your eyes open for a hr in the starting well I would certainly check out or something but but oddly sufficient our clock maintained sort of reversing the other thing I'' d say concerning routines is I obtained a telephone call this week from among our 25 year olds we have two 25 years of age twins Jordan that lives in New York City and also she said you know something mama starting Monday returning to my routine as well as I located that so fascinating that the self-care part of routine and rest and also waking and also all of that is being implanted in the younger generation which is fantastic it is terrific so one more factor that you could be tired you can have some underlying health problems that you wear'' t recognize concerning it ' s so crucial to visit your medical professional a minimum of yearly and also have points looked into because as we mature points in our body change and also maybe that'there ' s something going on that'' s keeping you awake in the evening that ' s making you feel exhausted throughout the day so visiting your doctors often is so crucial yeah there I suggest there could definitely be some issues taking place that require to be resolved as well as you recognize we have buddies that actually have actually claimed to us we never ever go to the physician due to the fact that we don'' t intend to seek difficulty and also I'' m just unsure that'that ' s a wonderful method to endure this phase of your life yeah as well as you understand in retired life if you'' re not exercising and also you'' re eating and also alcohol consumption even more than you utilized to you'' re mosting likely to get weight a lot of people put on weight in retirement currently all of a sudden you grab an additional 10 15 20 pounds and also it'' s gradually so you wear'' t notification it but that causes diabetes mellitus so you want to obtain your heart examined you intend to obtain your body inspected you wish to go see your medical professional I lately mosted likely to the physician and found out that I had plaque buildup on a few of my arteries that'' s it yeah it ' s a scare I suppose but it additionally has actually aided obtain me concentrated on doing the appropriate point eating much better workout as well as obtaining good rest yep since that you'' re on could be out of balance once again this returns to talking to your physician you know if you'' re not resting and you'' re putting on weight and also you'' re having difficulty bowel movement or you'' re going excessive you recognize discover why it'' s just not something to move under the carpet yeah you recognize if you'' re standing up 4 times a night to visit the shower room maybe as straightforward as you shouldn'' t beverage water 2 hrs before you go to sleep or it can be something else or maybe a medicine that you shouldn'' t take in the mid-day you must take in the morning or yes the crucial point we'' re attempting to get across below is see your doctor check your meds you recognize I was pre-diabetic seven years back and also I changed that with diet and also exercise so you can really be positive and make some changes too don'' t have your physician just say below ' s some medications speak with them extra about what some of things you can do to change your way of life to end up being healthier so we struck the physician we hit the medications allow'' s go to the seventh point that we generated you know dehydration dehydration without a doubt will make you tired that'' s a no-brainer it brings about all sorts of issues bad rest heart rate issues blood stress problems mind damage even death you had an episode a pair of summertimes ago with dehydration I did I was working in the yard I was functioning truly difficult I was perspiring and I wasn'' t drinking water did all that work it was a hot damp day bathed we obtained dressed to visit supper we strolled down the road to have supper you recognize I wear'' t understand 500 feet and also right in the start of the supper basically long tale brief I simply went down and I collapsed and I had to be required to the healthcare facility which was avoidable it'' s not hard to effects you need to consume alcohol one half your body weight in ounces of water that'' s a minimum I weigh 160 pounds that'' s 80 ounces of water a day that'' s 7 to twelve glasses of water a day it'' s not that tough right right it really isn'' t'it really is and it ' s so so vital to do that so listen it ' s fine to have careless days it'' s alright to splurge with food as well as white wine you understand it'' s fine to binge watch television however not each day not for your optimal retirement it just isn'' t lasting as well as there'' s absolutely nothing even worse than sensation tired all day and you understand individuals that state that right they stand up as well as they state oh tired noontime they'' re like oh my God I'' m so tired yeah wear ' t you get tired of hearing individuals state exactly how worn out they are yeah and also perhaps some people simply state it but you wear'' t have to it doesn ' t need to resemble that right you wish to attempt a day or also a week applying what we shared today and also see if there'' s any adjustments that play occur see exactly how you feel you really could like it you might locate a brand-new normal and also it comes to be a habit now we wished you like these strategies and also changes that we spoke about today look into our following video clip expand your life in retired life by avoiding these 4 negative routines these are precise modifications you require to make so see this video clip to go deeper on extending your life and also being much healthier
Read More
Planning Retirement the RIGHT Way (with Veronica McCain)
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
so you'll pick me up tonight
at 7 45. yo well no I got a few things to take care of first but
why don't we make a quarter to eight I'm 45. live from Joe's mom's basement it's
the stacking Benjamin show [Music] I'm Joe's mom's neighbor Doug and good news
today is all about getting your way which is my favorite here to help us work out our goals
and find happiness we welcome retirement coach Veronica McCain for our Tick Tock minute we'll
discuss tips on getting your vocab right to succeed in the corporate world in our headlines
why is it that instead of money at the end of the month the month seems to go too many days for
our wallet we'll share an explanation from one popular publication plus we'll throw out the Haven
Lifeline to Lucky stacking Benjamin's listener Jim who wants to know what percentage to put into his
Roth IRA and then I'll share some heartbreaking trivia and now two guys who like to color way
Outside the Lines the Philistines it's Joe and oh [Music] and a happy Monday to you stackers nice open
duck you know given your history I think that was fantastic we got a great show today fantastic
show Veronica McCain is here I can't let that go what do you mean given my history I am Flawless
day after day show after show let what go I don't know what we're talking about Veronica giving
my history great open given my history Veronica McCain is here today she is a retirement coach
and uh oh gee we don't get enough time to talk about just retirement so I'm I'm super happy we
get to do that sweet I'm gonna retire after this Marathon recording episodes podcast for the
last freaking week and a half so you can go on vacation so like yeah by the time people hear
this I've had a wonderful vacation in Spain which meant that uh that yeah we've been talking to
each other a fair amount lately however we got a fantastic show today not only Veronica became
we got a fantastic Tick Tock minute super happy headline today comes to us from the Wall Street
Journal the oh gee sorry the Wall Street Journal The Wall Street Journal are they like the Ohio
state of newspapers forgot to put the emphasis in the right place and they get angry those Buckeyes
no it's the Ohio State I thought it was just oh no no it's the this is from the personal finance
section it's written by our friend Veronica dagger a Veronica writes why it's now easier to
underestimate your expenses and overspend let's dive in Veronica writes many people have a gap
between what they think they spend and what they actually spend this gaps wide recently is the
financial and psychological effects of higher prices further strain people's budgets Elevate
inflation is rippled through Americans wallets for more than a year now some have cut back While
others have increased their spending to keep up credit card balances were staying relatively flat
for a while but have jumped higher recently oh gee you and I let's take it from here I think
that this is a year where it's crucial to have your finger on the pulse of what your expenses are
you know you hear people joke about eggs you hear people joke about the grocery store of course for
a while there you saw the gas pump that seems to have leveled off at least where you and I live but
I think if you don't have your finger on the pulse you're just gonna have less money at the end of
every month well the availability of credit cards and accumulating that Consumer Debt really makes
it easy to continue to live the life that you want to live even if the cost of living has increased
a little bit because you don't feel the pain of that right away you know it's like that kind of
slow death by a thousand paper cuts type of thing it's like you have a little bit of a balance that
carries over then you have a little bit more of a balance that carries over and a little bit more of
a balance that carries over and so that's a really good really good signal I think is if you if you
go month to month and you're not paying off your Visa bill every single month or if you had been
and now you're not yeah that's a good trigger to go like whoa what changed here that'll snowball
pretty quickly listen to this statistic just to tell you how many people are not paying off their
credit cards Veronica writes in the fourth quarter of 2022 the average household's credit card
balance was nine thousand nine hundred ninety dollars up nine percent from a year earlier nine
percent higher it's a huge big number according to wallet Hub customer Finance website meanwhile
the average credit card interest rate of course rose with spread right yeah uh to record high of
about 20 percent last week according to bank rate those are some there's some big downsides for
not tracking your expenses yeah thinking about the math on that real quick it's like okay ten
thousand dollars at twenty percent you're spending 150 100 you know 200 a month of Interest that's
not going to pay that off if you think okay well I make 80 grand after taxes bringing home you
know 60 after taxes and health insurance and 401ks and all that sort of stuff that's a solid
chunk of your annual budget that's just going to interest payments that doesn't really accomplish
anything for you so if you're one of those people that that balance is increased on I think it's
really important to figure out how to tighten I think one way if you have an accountability
partner a spouse a friend that you're working with I really think this can be way easier than people
think that it is Cheryl and I just have a weekly meeting we meet for 20 minutes it's over wine or
over pancakes depending on what time of day it is it's not complicated we just look through it OG
and I think it can be that simple it doesn't have to be you know you're using what you know I love
the tiller money app I think it's fantastic how it takes a spreadsheet and downloads everything every
day and you've got whatever numbers you want you can plug those into your spreadsheet and get it so
you can slice and dice however you want I like the cube app as well we of course have lots of fans
who use YNAB as a great budgeting tool but it's not really it doesn't even have to be that hard
it just has to be having just a finger on on the pulse like where where's our money actually going
you know it might have been you who mentioned it years ago oh gee it could have been Paula pant but
but a lot of people feel handcuffed when they feel like the advice is look at your budget every
month and decide all the details that you're spending on and I think that's one of the things
that intimidates people or just is a huge Downer against budgets I don't think you have to do it
forever and ever I honestly think you set up a budget we use whatever template you want to use
make your own or use some of the ones that Joe mentioned and then you check in on it for let's
say the first six months or eight months however long it takes you to establish habits for just the
way you live just the normal everyday stuff and then once you've sort of curtailed yourself from
essentially taking out a loan to buy that pair of pants or that whatever that thing is you think you
need uh I don't think you need to check in on that budget that often I think it's I mean honestly
I'm checking in on mine every maybe six months to a year I think that I think the big Point here
Doug with inflation having gone up as quick as it did the point is to have these early warning trip
wires that if you're not going to check it that's fine but you got to have a tripwire that alerts
you then that stuff is real and it's different than it was three months ago because to OG's point
if you don't catch it early this gets Beyond you I mean but Wells Fargo's PR team finally getting
getting ahead of the story here and got themselves in this piece listen to this I like this money
grows much faster than most people expect because interest is not interest says Michael learsh head
of Wells Fargo and companies advice and planning center it's a great quote a similar concept
though applies to inflation prices rise and if inflation remains high prices continue to grow on
top of already inflated prices leaving people off guard quote people get constantly surprised that
their money isn't going as far as they thought it would and in fact the cost of eating out and going
for drinks continues to take Dina lion aback even though the 36 year old married mother of one's
dining out and ordering in far less than she did a year ago some prices still give her sticker
shot she says the difference between cooking at home about ten dollars for nice pasta and quick
sauce from canned tomatoes versus Italian takeout for now 50 bucks is astronomical said Miss line
who lives in Brooklyn I think those trip wires are are what you if you're not going to set it up
Doug well let me ask you this I mean given your history with money how exactly do you set up your
own tripwires so we focused all of our spending on One credit card I have a rough idea every
month of what that that number should look like at the end of the month and if it's significantly
higher I kind of raise an eyebrow and then I start scrolling through transactions and realize okay
those are all legit time to cut it back that's my trip but you know then where to cut well then
I start to it's usually uh the same thing for probably 90 percent of Americans Amazon but uh
Amazon could be anything though I know that's such a brilliant way for them to disguise what you're
buying that it just says Amazon yeah because you're like there's no way I spent forty one
thousand dollars on Amazon last year yeah you did like well what did I buy wouldn't you like to know
right I bought Fruit Loops and a backhoe exactly but yeah then I just dig in a little bit if if
the number is significantly higher usually when that has happened it's because of a couple of
big purchases and I know right where it was and um I know that that big purchase isn't going
to happen again the next month it's you that for me that's usually what it is it's not the
trickle effect of Amazon it's usually some big some big Bill I had but uh yeah that's that's my
tripwire yeah I just know that given your history that we really need to make sure that um people
hear the story you are harshing on me today what is happening what am I doing I don't give up
your history and what then you you yeah yeah harsh on my open what is going on I don't I'm just
saying that given your history there we go again I think we need we need to make sure that people
hear the story like it's a it's a great tale hey uh speaking of great Tales time for a tick
tock minute this is the part of the show where we either have some Brilliance from the people at
Tick Tock or we have hashtag brilliance from those very same people uh Doug which one do you think
we got today this one's legit it's solid yeah well more solid than my backdrop which is just about
fell over I love it how people are about to see they're about to see all the canned goods here
in the basement when your professional backdrop goes bye-bye I think you're correct doug because
oh gee today what we're going to talk about is how to succeed in corporate life how to how to
figure out the right things to say let's listen one of the most important skills you'll need
to learn if you want to be successful in the corporate world is how to speak like an absolute
[ __ ] week and a great way to do this is just to totally ignore the basic principles of
English grammar so first take a random noun and then change it into a verb so a word like
idea becomes ideate then take that new verb and turn it back into a noun so id8 becomes ideation
then take that now and change it back into a verb so ideation becomes ideation Inc finally take the
new verb and change it into a meaningless seven word cluster an all hands Blue Sky ideationing
session then sit back and wait to be promoted right that immediately it's pretty
funny after your blue sky ideation session you're you're good that's pretty
funny brilliant Joe tell them some of the we've got some of that same kind of
corporate phraseology here that that just develops organically just happens we have
we've come up with our own lexicon here uh OG we need to talk to you over by the can
peaches we say that you're getting canned first time Doug got canned he thought it was a big
deal oh God I was remember that yeah I was I I had Joy I mean uh tears in my eyes and when it's nice
outside so you know we want to leave the basement we meet up by the clothesline which we call Doug
getting hung out to dry there it is we didn't need the bump this is serious work OG we're all trying
to get promoted here hey coming up is a woman that I don't think we need to promote a lot because
when it comes to retirement planning people take it way too cavalierly oh gee you know this
better than most people spend more time planning their family vacations than they do planning their
retirement which shows why so many people are not successful at retirement planning well Veronica
McCain worked a full career and then realized that as a second career which we may talk about as well
she was going to become a certified professional retirement coach and a charter retirement
planning counselor after 31 years of Public Service work decided you know what time to do that
other thing that I've really really wanted to do so she founded Savvy retirement coach with the
mission to provide holistic retirement planning Concepts focused on self health and wealth we're
going to talk to Veronica here in a second about doing a better job planning retirement but Doug to
get there I think you've got some history well I think of it as trivia you call it history
tomato well given your history of doing the trivia I think we should just have the trivia now
there's some massive punchline coming I can tell I don't know what it is but okay fine here's
the trivia Joe hey there's stackers on Joe's mom's neighbor Duggan did you know that on this
day in 1956 Heartbreak Hotel by Elvis Presley became a number one hit the Smash Hit was written
by the Queen Mother of Nashville Mae Boren Axton and Tommy Durden Axton played a recording of
Heartbreak Hotel for Elvis at a disc jockey convention in Nashville and the rest is history
so since we're on the topic of hotels I got some hopefully not heartbreaking Hotel trivia for
you my question is if you're evaluating hotels as an investor what is the difference between
these statistics average daily rate ADR versus average published rate or APR I'll be back right
after I asked Joe's mom to celebrate Elvis by making me a peanut butter and banana sandwich
while I tee up Heartbreak Hotel on my Walkman Burning Love Joe's mom's neighbor Doug and we are
commemorating the anniversary of Elvis Presley's Heartbreak Hotel becoming a number one hit on
this day in 1956 with some Hotel related trivia so my question was if you're evaluating hotels as
an investor what is the difference between these statistics average daily rate versus average
published rate in maybe our most thrilling trivia question yet try to stay awake non-hotel
investors the average published rate is believe it or not this is going to be amazing are you
ready I'm just settle down because I know the excitement is building it's the amount a hotel
asks for rooms well the average daily rate are you ready for this I know you've been waiting
by your device all day just trying to figure out what this definition is that is the amount
they're actually getting paid for the rooms if you're a hotel investor this is the opposite
of boring because if those numbers are close together it means the hotel is in demand and
if they're far apart you know maybe not so much maybe I should suggest our writing team retires
So speaking of retirement Let's help you get there permanently it's time to learn how to create
your retirement your way with Veronica McCain and I'm super happy she's here at the card table
with us Veronica McCain joins us how are you that you're here because we're about to talk if
this goes according to plan we're about to talk about all the things that you and I think people
should talk about during retirement but often kind of gloss over because they're you know just don't
get me wrong we're gonna talk about the money too but it's about more than money but as a way to
get there Veronica I've always believed that if you want advice it's helpful to get it from
somebody who's kind of walked that path right when I was a financial planner I had been one
in a long time but when I was the fact that I worked with 200 families and I'd seen retirement
over and over and over again should give people a little bit of comfort that yes you want to do this
once I've done it a bajillion times but but I had not at that point ever retired you have actually
retired tell me about that do you remember the countdown to your retirement oh yeah definitely
I mean I remember when I was working you did you know you do the usual countdown on your calendar
kind of exiting out the days until it actually hits and then that when that day comes I think
you get a overwhelming emotions because then I realized you know I'm leaving my work and my work
was not just work for me I actually had you know work family what did you do by the way I worked
for the federal government so I was a associate director over several various departments within
an agency a very small agency about 300 people but um because you're a small agency you kind of
have to sometimes do a lot so oversaw a lot of different departments yeah so so you have this
flood of emotions where the emotions about loss were they about excitement I don't know is it now
all the above is it purpose yeah I kind of had an idea sort of what I wanted to do so I kind of knew
what path I was going to take once every time I know it's going to go into some type of coaching
field didn't know exactly what way I was going to go with it at first I thought maybe more in the
Executive coaching area but then as I thought about that more it kind of gave me flashbacks for
work so then I decided to get into more of the the retirement because people were asking me so
many questions about you know what do you do and what you retire how do you feel your days and that
kind of thing so um you know as I was approaching looking into the coaching area I did look at
retirement coaching and I said oh this will be an interesting field to pursue because I like to
motivate people to have people get excited about their goals and what they want to do in life and
I like the kind of the financial side as well so um you know that's why I decided to kind of lean
more toward the retirement coaching but getting back to when that final day came yeah I think
it was when I had the actual retirement you know sometimes that work to give you a retirement uh
party and you see everybody and they're like uh say something say something and then when I got up
to say something all of a sudden I started feeling like I was gonna cry yeah I was looking out at
everybody and I was like wow I'm you know this is this is really the end um even though I had
something you know like I said to look forward to going through I didn't expect that emotion to
come over me like that but it did and I think a lot of people experienced that when the final
day comes of their retirement there is like a I don't know I mean it's just morbid but there is
like a death I mean you're it is it is your last cake right right you've been to see other people's
cake but all of a sudden you realize this is your last slice yeah it is that that's exactly what
it is it's kind of you know that you're gonna try to keep in contact with the people that
you work with and try to have some kind of relationship but it does change it really does
because you just you know everything usually that you talk about with people at work is work related
stuff and over time when you retire that kind of goes by the wayside with you so do you feel like
we're too Cavalier about that about that process about the uh you know the fact that we're going
to have these emotions we just think oh I'll deal with it when I get there yeah I think a lot of
people are just so caught up and I'm going to be retired I'm going to be tired I can do whatever I
want it's so exciting or whatever so yeah I think you don't really feel like that you're going to
have those type of emotions I think you just feel like you're going to go to this next chapter
in your life and it's going to be oh this this burst of excitement and it is I'm not saying that
you're not going to have it but I do think there's also a period of of where you kind of adjust uh
to you know what you've left behind in your job and your identity and all that with that and
then going forward pursuing what what you had to look forward to in retirement so it's kind
of a mixed bag those first couple of years you tell your own story but you also tell stories
of a few other people in the workbook one is a woman named Susan Susan seems a little lost
can you tell our stackers about Susan Susan is the one who the days and the walls were kind of
closing in yes yeah yeah she was the one person in the book that I talk about and the people
that I talk about the book are actual people that I coach I just use different names and
scenarios names change to protect the guilty yeah she was kind of diverse and this is a this
is a lot like when you're working you're kind of looking forward to those days that you have off
where you can kind of do some things that you want to do but then when you retire and it's every
day it gets a little daunting if you really don't have an idea of what you're going to be doing to
for your days your day-to-day life I think is the hardest thing that most people struggle with when
they retire they have some huge aspirations maybe of traveling or doing that but once they're
sitting in their house house on a day-to-day basis and in the you know the walls of you know
has kind of quiet and not a lot going on you don't have that routine of going to work anymore
it's kind of like what do I do on a day-to-day kind of thing and that's kind of challenging but
what Veronica separates your workbook from a lot of the retirement discussions I've seen is that
you take this day to day and challenge all of us to think really bigger about our life like I got
this feeling even in the beginning Pages as you're telling the story that well let me just quote
you you wrote a big void needs to be filled in retirement but it should not be filled just with
things to keep you busy like this is not just a March to the Grave this is a whole different
piece of your life and it shouldn't just be about rearranging the salt and pepper shaker every
day or you know figuring out that the dog needs to go for a walk like you challenge us to think
a lot bigger about this period exactly it is an exciting time for you to think bigger about your
life because it's probably the first time in your life that you're actually able to do what you want
to do on your own schedule and hopefully have the finances to do that so I think it's more than just
trying to fill your days with just the stuff to do and I think a lot of times when you first retire
if you don't really have an idea of what path you're going to go down once you retire that's
what you start doing you start trying to just okay let me do this do this and do that and you're
not feeling you're still not feeling fulfilled so I'm hoping in the workbook I give you exercises
to help you because people struggle with like what does this mean purpose meaning fulfillment
or whatever yeah those are I think sometimes big words that we use but I hopefully going through
some of the exercises in the book you will be able to figure that out by going through the exercises
and then trying to say okay well what do I really want to look for as far as my next chapter in my
life of what I want to pursue and what I want to do more than just these little small things that
are keeping you busy I get uh coaching from a group called strategic coach long time stackers
have heard me talk about them before but we have we have a workbook similar to yours with these big
questions about leadership and about coaching but you do the same thing here with retirement and
this is not guys this is not a long workbook but if you're doing this right it may take you months
to fill this stuff out because I could see myself Veronica peeling off maybe two pages and really
because the thought that goes into each page of this is really the important part well let me give
everybody some of the tips from the book that you have early on because you have workbook pieces
and then you have some tips here's some tips early on for when you first get to retirement to
kind of send you on this path while you're filling out the workbook schedule activities you enjoyed
during when you took time off from work journal and reflect on your expectations of yourself as
a retired person I love that word Expectations by the way read books and articles listen to podcasts
and a variety of topics to discover what most interests you now and volunteer for different
organizations to discover how you most enjoy helping people and helping help being out it feels
to me Veronica like you're challenging people also to don't be afraid to explore like go go try
stuff expecting that it might not be a fit exactly that's exactly right Joe I want people to not be
kind of Trapped into thinking they have to have everything planned out to just go out and just do
things that they find intriguing or they interest them and then from there they can determine what
they want to continue to pursue what they don't want to continue to pursue but don't don't limit
yourself on what you what you think you should be doing or how you should be doing it this is a time
for you to be adventurous and explore at different Avenues and things that interest you and a lot of
times that's kind of a hard thing to do for people because they've lived this kind of structured life
up to this point with work and all that and to try to say oh just go out here and do whatever and try
to figure it out it can be a little intimidating like whatever what yeah yeah so I'm hoping that
the exercise in the book gives you clue you know kind of cute used to okay these are some things
volunteering doing some other things that you know she thought about what maybe when you were
younger and didn't pursue kind of go back to those times of those thoughts and and try to figure out
if there's um things that you want to pursue now so yeah it's it it's funny because I I really
went through this crisis where I felt like not just there's a lot of stuff not interest me but
but I'm like okay I want to get involved in my community I want to get involved in organization
but but which ones I don't this could sound very horrible Veronica but I just didn't I just didn't
care about any of them and then I realized that it wasn't about that I need to just go get involved
and when I found out and ultimately at first it was the Arthritis Foundation I got involved
with I found out about juvenile arthritis I found out about all of these things happening in
the arthritis Community I got involved in walking trails around town and I realized how walking
trails uh not only your Healthy Living but beautify a city but they're also very inexpensive
ways for cities to raise property values like I learned it by exploring exactly what you're saying
to do in the book exactly that sounds so great Joe because that's exactly what I'm hoping people
would do once they start retiring just like you said you did you just started going out and doing
things and as you started doing those things you learned so much and it got your interest even more
into whatever activities you were pursuing the one thing that people have to realize when they retire
you have to be just to be intentional you have to go out and do it it's not going to come to you and
a lot of times I think you know when I'm working uh coaching with clients they're like well I don't
know I don't know I'm like well you got to go out and try you can't it's not going to come to you
you've got to go out there and pursue it and once you do and when you know you will see oh okay this
doesn't just me or this doesn't interest me but you've got to go out there and do it can we talk
about that what you just said about you kind of kicking people in the butt and and kicking them
out the door to go you know like my mom used to say don't come back inside until that light turns
on you know we we back when kids went outside side maybe I'm dating myself there but you end
almost every chapter of this workbook with who are going to be your accountability Partners it
seems to me like accountability partners are a big piece of this tell me about how you how do you
find these people Veronica maybe just before you retire yeah and sometimes say you know who they
can be they can be trusted friends and and people that you know I think sometimes there are people
that are asking you questions about yourself and are intrigued about you as an individual but you
do have to find sometimes an accountability person because in retirement there's nothing pushing
you to do anything and if you don't sometimes have somebody that you can hold accountable and
if you can't find someone within your your network I would advise you to look for a coach because
that's because what they can be as well pursue look um for a retirement coach or a life coach
or or someone in that field because they can be your accountability partner but if you're finding
that you're struggling trying to get stuff done and you're not really getting out there or you're
bored and you're restless and you want to not get some pickup and you're like you definitely need
to look into getting somebody to be accountable and help you because I even have coaches that I
work with and I'm a coach yeah yeah me so it's just something that just like I said it helps
you keep you accountable to someone to keep you motivated to do things I think that kind of
like you Veronica I just get this feeling that uh with my coach if I say it out loud to Mary Lou
it means I gotta go do it like that if somebody tells you or if you tell your coach then you
then you have to go do it I want to stick with this theme of uh friends and family a little bit
because those might be some of the people you're bouncing stuff off of but you also say if you're
having trouble finding your sense of purpose that friends and family might be a good Outlet yeah
and that's what I found for me that's why I said I want you know I knew I wanted to go into coaching
I wasn't really sure which way I wanted to go and the reason why I decided to be a retirement coach
is because friends and stuff are saying you're good at coaching and talking about this retirement
stuff or whatever and I'm not like you should do something with that and that's why I pursue
becoming a retirement coach but I think oftentimes friends and family see things within you that you
don't even see yourself they recognize talents and things that you have that you're like oh okay
you're right I do enjoy that you kind of brush it off and maybe not pay attention to where they
might be and I think when you're listening to your friends and family you have a tendency because you
trust them to listen to their guidance a little bit maybe more than somebody else that doesn't
really know you so I say I always lean into your friends and families to help you if you're
trying to figure out maybe you know some things you might want to do they might say well you're
good at organizing or you're good at accounting or you're good at this or whatever and they might
give you some cues to help you figure out where that next chapter is going to be in your life in
retirement so definitely look for them for that I like the fact that you go through a lot of
this first about about purpose and value and meaning before you get to the money in chapter
two because your chapter two then really is structured around okay now that you know that we
can focus on spending money where it's important and saving money where it's not and hopefully I
have an idea there you start off with some good tips you talk about traveling a lot of people
in retirement want to travel uh you say to be a conscientious traveler what is what does that
mean yeah everybody always says when they retire they want to travel and then all of a sudden
they just start going places and not really thinking of where they really want to go and why
they want to go there I kind of had to regroup because when I first retired I kind of I think
everybody does that you go through that I just want to get out and go go go go go go and you're
just going everywhere but you're spending money going everywhere and so you want to kind of
maybe reel that back in it's okay to have that little brief period of doing that but you want to
reel that back in and really think about you know where is it where do I really want to go why do
I want to go there what do I want to experience once I get there make sure you're spending your
travel dollars on things that are value to you and make yourself more conscious of the type
of traveling you're doing I know I did a lot of girlfriend getaway travels you know spy and
all that and that's great but I really want it I want to explore the world that's what I really
want I want bigger trips and so you know you need to just be conscious of what your goal is as far
as you're traveling and where you what you want to see and make sure you're you know you're putting
your money into that type of travel versus just doing things yeah yeah what I really like that
you shine a light on is now that you're retired you can really lean into off season and one thing
that's not in your workbook that I love about off season that Cheryl and I have found because she
is a somewhat flexible job and I could travel whenever man off season you get more of the local
experience because the places aren't full of a bunch of tourists people are more likely to be
able to linger and talk to you like off season is great but to your point you save you save a
bunch of money there too exactly and I travel now that's all I do is try to travel off season
because just like you say as far as you want to make sure with your dollars that you're spending
them in a conscientious way as far as when you're traveling too going off season I feel like those
retirees the best time for you to travel because you really get a feel for everything without
the crowds and like you said the pricing is better you're able to enjoy it in a different
way what are some other ways that new retirees and people that are stackers that maybe are are
getting close to retirement can think about areas where they might be able to save money besides
on discount or off season travel at first I would just look in your budget overall of what you you
know you have developed as far as your I think everybody should be tracking their costs before
they retire and coming up with a overall budget um what they think their retirement is going
to be but some of the things you can look at is cars you know the insurance and things of that
nature look at that to see if there's ways you you can save on that once you retire there's
also lots of discounts and stuff like we were talking about off Seasons but also if you kind of
pursue looking you know if you want to go to Parks or whatever whatever your um interest might be
looking for ways you can get discounts on things of that nature and just be aware of any ways you
can save money with traveling it's just a lot of different ways out there too for other things as
well two big ones I really like that you had uh if you've got two vehicles you might be able to go
to one you know think about what you think about Transportation evaluate your life insurance do
you need it anymore are you financially solvent enough where maybe you could get rid of that and
then a medical one which I really liked was hey this medical thing is going to get expensive
stay healthy which also gets you out of the house I feel like Veronica again you're kicking
people's butt out of the house I definitely with the medical and the exercising and now that you've
got all this time you've done definitely can get a nice physical routine into your everyday life
just simple walking I know I take morning walks every morning and not just for exercise but for
meditation purposes for me as well but yeah we all know the medical cost is a big expense when
you retire and we also know that you get more you know seditary in your way you're not as active as
you were where you were working so I do recommend that you do have a physical fitness routine for
yourself when you retire to keep yourself healthy so you can reduce those medical costs because
a lot of the Medical classes stuff you can prevent yeah and things that you could be doing to
prevent you get but you got to start early on your retirement and start doing things to keep yourself
healthy when we go to the doctors at a certain age you're all getting those oh you're close you
know borderline there's water flush that and stuff it's time for you to really you know we're at that
point you can do things within your health to keep yourself more healthy so yeah yeah definitely I
look at a hamburger now and my cholesterol goes up I just look at it I don't know how that medically
happens but it's crazy that is we all we all know that feeling with people that own their house
you have a section of your workbook to go through Renovations on your house and thinking about
your housing situation this is the number one area in our budget our house what are some of
those key considerations about our housing we should be thinking about yeah a lot of people
like especially if they want to stay in their houses should look in as far as their as I call
Aging in place in the houses and look how well their house is going to be able to support them
once they start aging and look at you know I have a checklist in there of things that you should
look at as far as your stairs and your appliances and just repairs and stuff that you might need
to do to your house as you start getting older those kind of costs if you're not prepared for
them can wreak Haven on your retirement budget so if your house is where you want to stay then
you definitely need to look at it like even the showers grab bars and um stuff yeah steps if
that's going to work as you get older I know with my husband he had had accident he couldn't
go up the steps but it made me start thinking you know as we age you know we're not able to go
up the steps how are we going to do it because we don't have bedroom on our main level so those
are the things that you need to really think about if you're going to decide to stay in your house
so what you need to do and kind of come up with a plan so it doesn't all hit you at once because
sometimes it does you know unfortunately it'll be unexpected like your husband's too I mean there's
no you know Tuesday everything's fine Wednesday the game's changed exactly and you need to kind of
be thinking about that especially like I said if you plan on stay in your house what your game plan
is and start trying to figure out how you can get your house accessible so that as you age it'll
it'll still suit you yes you talk about moving and about a lot of people of course think about
moving when they retire and you also talk about friendships and I'm glad that you coupled the two
of those together because one thing I've always thought and now I know we're here to interview you
Veronica but I'm going to pontificate for just a second no problem because I feel like people think
of moving wait we talked about being too Cavalier with this whole thing this especially to me is
an area where people are too Cavalier I'm just going to move closer to to my kids and what you
find is that your kids are really busy they got a bunch of stuff going on you become a full-time
babysitter but you don't end up interacting with them in the way that they want and all of
these close friendships that you developed over the last 30 40 years I'm a guy who lived for
a decade in Texarkana I moved away to Detroit for two years and Veronica we came back and not
because I have family here in quotes because all my friends are here I see some of my friends
as my friends are getting older you know I find them getting vacation houses that are far away
and we're we never get to see them anymore and I feel like this loneliness this isolation that
we put ourselves into because we think it's great like we're I feel like we're way too Cavalier
about that but anyway I will shut up I'm gonna get off my steps duel what do you think do you do
you're sad at all Joe that is exactly what people do they're very Cavalier they have this idea of
oh I'm gonna live here and it's going to be this great but they have no special connections there
yes or I'm gonna go near the grandkids and the grandkids are getting older the grandkids are
going to grow up they're not going to be here forever be little kids they're gonna grow up and
have their own things or even if they're already older they you know have their own activities and
stuff to do so that's why in the in the workbook I give a checklist you know it just even asked
them oh yeah we want you close by and I say also don't let your only connections be your kids your
grandkids or your kids you know you need to have other social connections outside of them because
a lot of people say I'm a little bit closer for the children and that might not work out so yeah
it's one of those things that I think everybody has this idea of how it's going to be yeah this
grandiose kind of idea so not true so not true and that's why hopefully when you go through
the workbook and you look through the checklist and if you do the exercises that are focused on
that you'll have a clear perspective of whether that's a great move for you or not whether it's
going to work for you and as you retire because I think it's hard harder once you get there to try
to move back so oh agree yeah yeah uh you talked about how I was a retiree now you know you're not
forced to get up and go to work you don't have to now lead the charge like you did in your career
Veronica with your department with your agency time management then becomes really important
then for retirees if you're going to get what value you want out of life so you talk about
morning routine daytime routine idea week again accountability Partners but but I
wanted to end by talking about this time management system for retirees you call it uh
postek p-o-s-e-c can you walk us through that one of the things that people struggle with
the most and I kind of alluded to that before is you had a routine when you were going to
work once you retire that routine is no more and I find a lot of times with new retirees
especially that's where they feel the most lost is there's no structure to the day anymore they're
kind of and all you know all over the place and don't know how they can spend time sometimes just
Milling around not doing anything or whatever so I want you to I you know sometimes when I tell
people you know structure they kind of you know like that's why I'm not working anymore I
don't know why not I don't like yeah well easy easy there all right if you want to try to
put me back at work with destruction my name is this is the whole purpose of retirement I thought
for me to just kind of Mill around and not do anything but I thought we find that when people
do that they get very bored so I just ask that you just think of your days and more how am I
going to start my mornings how am I going to get up in the morning get started and get going
through the day I think once you get that start up in the morning of what you're gonna do it kind
of guides you through the rest of the day but you do need to think about how am I gonna just get
my day started you know when you don't have an alarm clock to get you going every morning so yes
the workbook is is my retirement my way it's a workbook for the newly retired it's funny the way
that you go through goal setting like a 30 year old would just reminds me the purpose is important
no matter no matter where you're at in life and uh the book's available everywhere correct yes it
is yes well thanks so much Veronica for helping our stackers get successful with their retirement
it's funny we talked to a guy Wes moss in Atlanta about his book what the happiest retirees know
and it's so funny how it lines up so well like if you read that and do your workbook you're
gonna implement this and you're more likely to be one of those happy retirees so thanks for
this work no thank you thanks for having me this is Daryl from Pennsylvania when I'm not busy
arguing with a four-year-old um stacking Benjamins oh gee I love that we can talk to Veronica
for over 25 minutes and uh the concept of asset allocation doesn't even come didn't make it
doesn't make the cut we're so busy talking about what about my efficient Frontier it's all going to
change I mean not the efficient Frontier but just your emotional landscape I totally agree with her
you see it all the time you go through this this metamorphosis when you hit retirement and even get
close to it that I think most people are way too wait I guess they're not expecting it's a whole
different world I mean if you've been successful in your entire life this is the transition I
mean just inside the money concept not not all the other stuff that she was talking about right
like time and energy and all that sort of stuff but just the money piece of it transitioning from
being a good saver your entire life to being a good spender for the rest of your life in and of
itself is a difficult change so hard to make that switch and it's even harder when you don't really
know what you want yeah you're much more likely to just hold on to the money and the thing that you
underestimate is time you don't have forever to decide what you want to do would you rather have
Charlie munger's money at uh 90 or his wisdom at uh or you know what is he a hundred or something
like that is his you want to trade places with him basically no nobody would trade places with
Charlie hunger right now for all the money in the world well what if Charlie Munger likes what
he's doing I understand that I'm just saying like nobody would trade places with him because
of the time you know because he's 90 something oh like he's got billions of dollars so it's not
it's not necessarily always about the money I see what you mean but so you so to Joe's Point you'd
end up with a really really happy last two years of your life yeah that's right well it's our
it's our friend uh doc G's book about hospice you know about these people who spent their
whole life chasing dollar bills or people that spent zero time chasing dollar bills they
spend all their time going no I don't need any money and then they realize if I would have
had some I could have had better family time that's a good book hey let's throw out David
lifeline and tackle some of life's most important questions our friends at Haven life insurance
agency Doug they put what you value first I tell you what uh white breasted nut hatches white
breasted nut hatches yeah what is that that's a bird and it's also a realization that you've
become old because one day you're joy riding your frat brothers brand new car to Florida when
all he thought was you were like driving around the block and you're like we're going to Florida
and the next day you're getting out your bird ID app because some Bird shows up outside your
window what is that at least it's an app and not a book yeah true but uh and then I also spotted a
fairly rare for my area a brown merger [Laughter] both of those are fantastic names for birds and
I saw them both this morning but you know you know number one thing OG is it's an app on his
phone but the thing that makes him proudest is that it's his most used app on his phone like he
gets that report from Apple and they're like you open that Bird app a lot well thank you next
to his uh walking step counter app and the one that monitors his blood pressure he's he's also
the continuous glucose monitor blood pressure number of steps in the New Balance app
I don't see a problem with any of this to order new shoes every six months given his
history Anything Could Happen hey uh speaking of anything happening we should uh go ahead and
throw a Paving Lifeline because the answer that question Doug was your loved ones in your time
with a bird app it's why they've made buying quality term life insurance actually simple more
time to catch the brown and merger beeping out of the hole hey stackabenjamins.com havenlife now
please go there and then fast forward this 15 seconds to get us out of this bird discussion
their application's simple getting us to cover his decision their parent company Mass Mutual is
more than 160 years old so you know that they've done this before hey uh today we we I I love
Karen repine our show Runners notes for us this is uh Jim from Wisconsin calling in and Karen
says Jim from Wisconsin a real person not Doug thanks we actually have a real Wisconsin
idea is that was is it wisconsinite or is it just cheese head do you just
say cheesehead yeah I think that's the preferred term it's in their
state either Constitution hey Jim hey guys Jim here and I actually am from
Wisconsin I have a question about what percentage to contribute to my traditional 401K
versus my Roth 401k I'm five to seven years away from retirement maxing out my 401k contributions
I read somewhere that when you have saved six times your annual income you should move all
your future contributions to the Roth option what's the thought process in deciding how much
to put where I'll be looking for that shirt thanks Jim thanks for the call thanks by the
way for proving that you're really from Wisconsin uh Burton from Minnesota needs to
learn from Jim he's got to put some Midwest on that uh yeah if you're listening
from last week take a note from Jim it's a good effort Jim I'll give you that
I mean you made a You made an attempt but [Music] it didn't you don't
think Jim really talks like that but that is not a Wisconsin accent oh not
as good as yours was is that what you're saying I don't know what you're talking
about not as good as the interloper yeah Jim thanks for the call oh gee have you heard
this uh rule of thumb that he's using six times nope six times what six times something I've
never heard that gym next time something I've never heard it yeah the answer to when should I
put money in a Roth 401k versus a regular 401K is largely determined by your ability to pay the
taxes today you know you think about it if you're making a hundred grand and you're contributing
the maximum to your 401k you're putting 22 000 in your 401k this year which if it's pre-tax
is going to lower your taxable income to 78 000 before your deductions and all that other sort of
stuff that roughly is going to save you maybe four or five thousand dollars in federal taxes because
of that contribution not including any state taxes if you switch to the Roth side then that deduction
doesn't appear in your W-2 so you effectively are going to have a four or five thousand dollar
additional tax withholding throughout the year so it's you know back to our discussion at the
beginning of today your budget is going to be affected by call it 400 bucks a month if you can
afford that if you can fold that into your budget and not go into credit card debt or not have to
borrow more money for cars or student you know like if you can deal with it then obviously it's
better to pay your taxes today well not obviously but it makes most sense I think to pay your taxes
today because it's a known thing you know in the future all of that money becomes tax-free forever
and there's no there's no government requirements of withdrawals there's no government requirements
of those distributions that you have to take once you are retired it's all in all the roths side
is way way better but it comes at a cost which is that 500 bucks a month well and I think I would
think OG you know he talked about doing the Roth later in the pretext earlier I would think that
to pay that cost and to make it even more worth it because of the fact that you are prepaying the tax
you need those assets to grow much much much more so I would think that at the very least flipping
that around and doing the Roth first makes more sense like the further you are away do the Roth
don't don't do pre-tax first and then switch to Roth I would do Roth as early as I can and switch
to I mean if I'm choosing one or the other which you and I know this most people that listen to
this don't we haven't had this discussion a long time we don't think either one of these is right
we think you should be doing some of each because you don't know what the future is going to hold
but certainly or Roth first approach versus the other way around it doesn't make more sense
if you're thinking about it from the kind of historical context of your earnings you're going
to make the least amount of money early in your career and the most amount of money on the back
end right like usually that's how it works you your income continues to increase throughout
your career so if you have to pay your taxes I would rather pay them at a lower rate if possible
versus when I'm 50 and I'm making 200 000 a year maybe that's the time to use the pre-tax bucket
because of the fact that most 401ks come with company matches and those matches are also pre-tax
I think that if you can start out doing a Roth early in your career and continue to do it your
entire career you'll end up with a good enough balance of Roth 401k and pre-tax because of the
company matching contributions being pre-tax but if you're really trying to optimize tax brackets
and that sort of thing you can kind of manipulate it as you get toward those higher tax brackets
the problem with all of this of course is that we're taking a very big guess at what tax rates
are the day you withdraw the money how do we know whether or not this worked pre-tax versus
Roth well if you put the money in a Roth 401k and you take it out in the future you're betting
that today's tax rates are better than tomorrow's tax rates you're saying I'd rather pay taxes today
than in the future because the future I think are going to be higher that's what you're saying and
the vice versa is also true if you put the money in pre-tax today you're saying I think I can take
this money out at a better tax rate in the future then I can pay it today so I'm you know I'm at
a high tax bracket today I think I'll be in a lower tax bracket in the future the only way that
you know whether or not you're right is after you know that you're right because we don't have
the chart that says what are tax rates in 2037 because if we did then we would be able to
calculate it and say with certainty this is a better choice based on the circumstances
all we're saying is I think I might have a lower tax rate in the future or I think
tax rates might be higher in the future the one thing that I can say is that if Congress
doesn't change any of the rules Roth contributions Roth growth and earnings are 100 tax-free forever
so I don't care what the tax rates are in 20 years from now when I take the money out because it's
tax-free yeah if I'm gonna lean I'm leaning toward pay the taxes today be done with it that said
slots approach too by the way which is to say you got the cash today pay it today so that you
don't look at your IRA and go I've got a million bucks in my IRA it's like no you don't you have
500 000 in your IRA because half of it is for the government Doug I think this is really important
uh stuff for you I mean given your history with taxes and I have no history with taxes so I'm
good well maybe that's the point you gotta earn something to pay taxes maybe that's the point big
thanks to you Jim for the call if you would like to call and ask a question you know what we will
send you a Haven life stacking Benjamin's greatest money show on earth circus t-shirt and Jim from
Wisconsin really from Wisconsin is getting one cent his way slash voicemail gets you the shirt
and we're happy very happy to send it to Jim as I stare ready Doug as I say that I don't know why
I'm staring at Doug as I said Jim well he sounds hideous what are you talking about well it's
just I mean it's like a fiction just thing right this gym it's like the the State Farm guy that's
who you're talking to I know I think it's Jim I think somebody's having a tough day there OG well
before we say goodbye today time for our community calendar man we've got a great week over on the
stacking deed show where Crystal Hammond and Alan Corey dive into real estate Alex e Edwards is
a guy who helps uh has helped a lot of people in the southeast part of the United States
get out of intergenerational poverty through real estate teaching some real estate helps them
learn how to buy houses how to learn to do it in a responsible way he's going to be their guest on
tomorrow's show over on stacking Deeds of course our other sisters show the earninginvest podcast
doc G always has guests who dive deep into Allah into some some topic that is uh always exciting
and a fantastic and a fantastic discussion he has a friend of ours Fritz from the retirement
Manifesto coming up on Thursday Fritz is a guy who retired young documented his retirement an OG
to Veronica's Point earlier in today's show Fritz has really done it right this guy is so busy but
now doing that second career I think he serves on a couple of boards he Volunteers in the city of
Asheville in a couple different capacities one is working with animals he's always out in his
wood shop this guy has so much going on he's not sitting there wondering what he's going to do
so if you're interested more in in retirement Fritz will be over on earn invest of course here
on Wednesday the draft the NFL draft is Thursday so we've got Rob Welch he and a former NFL player
wrote a book together about going pro with your money we're going to talk Wednesday about no
matter what you're trying to go pro in how do the pros treat their money A lot of pro players about
to get a big payday on Thursday and as we already know a lot of them don't do the right thing with
that sudden money OG it goes in the wrong place that's what's coming up this week thanks so much
for hanging out with us today if you're somebody that's my kind of person and will leave a
review for people that they only know via podcast or maybe you've hung out with this
on one of our social media channels please leave a review of the show that helps us so
much helps new stackers realize what they're getting into a little different take on money
than maybe some of the other shows out there thanks to everybody who's done that Mom puts those
on her refrigerator if you're not here though to hang out with us on social media you're not here
just for Doug's trivia you're here because of the fact that you're worried about the economy you're
worried about your money and and how it works together and as a lot of those fears begin to ramp
up for people you might be feeling anxious to make some moves in your finances what I'd like you
to do instead is check out this free guide that OG and his team have put together that'll help you
plan more and panic less no matter what the market does it has some great insights on what you should
be doing and smart questions to ask yourself so that you make financial decisions your future self
will thank you for head to stackybenjamins.com guide that's stackybenjamins.com guide to get that
free guide from OG all right that is what's going on in the community man a lot of takeaways today
but Doug what are the top three man well Joe first take some advice from our guest Veronica McCain
and create your own unique roadmap to retirement second take a memo from our Tick Tock minute
to up your vocab game and Excel above the competition I'm sure you'll get promoted in no
time but the big lesson turns out five times in a row is the limit to singing Heartbreak Hotel
at the top of your lungs after that Joe's mom starts to get irritable and make threats now that
I think about it probably was the hip thrusting thanks to Veronica McCain for joining us
today you can find her book my retirement my way a workbook for the newly retired to
create meaning set goals and find happiness wherever finer books are sold we'll also include
links in our show notes at stackingbenjamins.com this show is the property of SB podcasts LLC
copyright 2023 and is created by Joe salsi High our producer is Karen rebein this show was
written by Lacey Langford who's also the host of the military money show with help from me Joe and
Doc G from the earn an invest podcast Kevin Bailey helps us take a deeper dive into all the topics
covered on each episode in our newsletter called the 201 you'll find the 4-1-1 on all things money
at the 201 just visit stackingbenjamins.com 201 Tina eichenberg makes the video version of this
show Once We bottle up all this goodness we ship it to our engineer the amazing Steve Stewart Steve
helps the rest of our team sound nearly as good as I do right now want to chat with friends about the
show later mom's friend Gertrude and Kate Younkin are our social media coordinators and Gertrude is
the room mother in our Facebook group called the basement so say hello when you see us posting
online to join all the basement fun with other stackers type stackingbenjamins.com basement
not only should you not take advice from these nerds don't take advice from people you don't
know this show is for entertainment purposes only before making any financial decisions
speak with a real financial advisor I'm Joe's mom's neighbor Doug and we'll see you next time
back here at the stacking Benjamin show foreign [Music] the after show this is uh the part of
the show that doesn't exist if you're new here what happens in the after show stays
in the after show getting back to your clothes I think that singing Heartbreak Hotel at the
top of your lungs just you know given your history might not be might not be great well
since my baby left I find a new place to dwell they're down at the end the lonely streets
called speaking of speaking of Doug's history um there's unfortunately OG a doctor
out there who has violated HIPAA rules and um got us audio from Doug's latest therapy
session and uh well I thought that as long as they broke the rule we didn't we should probably
play it look at the look OG can't wait for this he is so excited about that well I think
this is bad I think doctor shouldn't be doing this but as long as they have let's no
this is this is Doug's latest therapy session you what well you had waffles for dinner and you had waffles for breakfast so we're
gonna eat something else oh I oh I don't know sounds like you're obsessed now
you're really crying pretty good there now everybody is thinking about waffles like that
brain worm is in there and you're going to be thinking about it now for the rest of the
day well I I think I I mean I I really think that uh you shouldn't be thinking about waffles
given your history you're begging for me to ask I've resisted this whole time I'm not gonna
ask I'm not gonna ask why you keep harping on my history so OG and I saw this uh this video
that these guys said that that if you really just want to mess with somebody just end as many
sentences as possible when you talk to them with given your history just say it over and over
and see what happens and watch them watch Doug unravel the entire show they melt it is surgically
effective like it has just been driving me crazy I said it's Alyssa I don't even
remember what it was about but I just you know she was like brushing her
teeth or something and said well you know given your history and she's
like what is that supposed to mean you know just totally like around everything
to a halt just like you said yeah I think that is a bad marital move I said this will work
well with Doug I would not yeah I would not do that right before bed because you are not
sleeping that night stackers you may or may not want to try that your results May Vary but
ours ours I thought today were pretty good Doug didn't know what the hell was going on
actually now that I know it's actually more impressive that you found a way to
dodge my question the whole the whole episode you know given your history of course
yeah I'm not not enjoying your company anymore
Our Biggest Retirement Mistake! How to avoid this in your retirement.
Jason 0 Comments Retirement Planning
our last day of work was December 29th 2018 and the next week we began this journey with little or no guidance and we've had some fits and starts and honestly we've made some serious mistakes along the way but we finally got on track and we thought we were doing well you know last December we're four years into retirement thinking we're doing okay right but our big mistake created so much stress and anxiety and we knew we needed to change it and that mistake was setting the wrong priorities in our life see we started this business just before we retired and we made it a priority we made it the priority all of our planning was based around doing everything we needed to do to build this company and you know this com company retirement transformed is really important to us we get a lot out of it and we know we're helping others and at the same time we're actually helping ourselves by actually formulating a plan and we know we need to keep it going and we want to keep it going right but this it just got overwhelming well here's the thing we scheduled Monday through Friday Friday we've always taken off but Monday through Friday we've put work in first because it was important to us and we put in research that we would do for YouTube scripts we would put in time to write YouTube scripts we had to carve out time to shoot video like we're doing today and then we had the business side of things weekly team and marketing meetings but we planned all of that and then we said well we also want to do some fun stuff right we would agree then you know after all of that was planned that we should you know keep keep playing golf and maybe take on pickleball and maybe find some personal time to do activities alone which is really important and then time with our individual friends and couple friends and time to work out and you know before you knew it we were exhausted and here's what happened and here's why we made this pivot Because by the time we got through all the work stuff every day because we made that first and priority there was really no time for the personal retirement life that we dreamed about like Jody said we were tired we were uninspired we made excuses you know when you write YouTube scripts for three hours or you shoot video for three hours you're exhausted after that so we needed to put some fun back in our life right and make the business second to all of that so and still do a good job so if you're entering into retirement or if you're in retirement building a business this is some just advice for you we made the big pivot right this past December 2022 and we began to flip our calendar and that's what we're going to talk about today you know we scheduled everything that was missing you know travel to see our kids you know dinner with Friends golf pickleball exercise our alone time we had to Anchor all that into our calendar before we started peppering in the business and the change has been incredible and eye-opening for us and we want to guide you through doing the same thing now you don't necessarily have to have started a business but clearly we hope that part of your retirement includes some wisdom sharing which could be volunteering helping others writing a book whatever it might be because that is a big part of what we do but now that we made this pivot and it's only been two months actually six weeks yeah we're happier we're more excited we're more energized and we're more inspired it really is helping us a lot and I think the work that we're doing around retirement transformed actually not only fits in but it actually gets better because we are living a retirement life while we're building the business and sharing some things with you guys so it just took our retirement to a whole new level of satisfaction so let's welcome let's welcome through what we did yeah because I think it would be helpful it's really really important to do this you know the first thing we did was we made a list because you know we're listing planners but we made a list of what was most important to us besides the business you know our retirement transform business is our wisdom sharing bucket so we knew that would stay right where it was but it's only one of the Five Pillars it is it is so we made a list from the other pillars physical wellness mental Wellness relationship and spouse partner relationship and started to fill in around that and here's is what we came up with golf was really important to us we wanted to schedule in golf so that we did it pickleball we wanted to try once we got to Florida I need alone time I mean I probably need alone time more than you do so I needed to schedule that and I need time with guy friends I need to be with some guy friends to talk about the things that guys talk about what is that I don't know I'm not a guy a lot to do a YouTube on it we also needed to squeeze in some weekend trips because you know we've had friends ask us to do things or family members ask us to go places so quit squeezing that in made us say yes a little bit so we had our list of things we wanted to make you know a priority in our life then we got a calendar for January blank and we started to say so how's this going to work what what days are we going to do what and we both get up early so I'm up at five Jody's up at six I have certain things I do every morning from five to six I get up I exercise I meditate I journal and then Jody gets up at six and we have an hour together which is great is our coffee time and and this is not optional this is pretty much seven days a week yeah I would say I mean there are some mornings that were off kilter but I get up at six and for the past five years I send a text to my girls just something for them to think about to in the day depending on what's happening in their lives I send it as a group so we've got a little fun group text going on I do Wordle I need the brain Wordle stimulation and I do that with a I can't do Wordle um I check in with friends if you know someone's been sick or not feeling well or whatever then we do our coffee together you know at at that point and then I'm off to yoga and so you know that to me you know kind of can't change we couldn't deviate from that so as silly as it sounds in our calendar five to eight o'clock no five till seven two hours every morning we're together in one way shape or former or another and we just know we're gonna do that we have it's we look forward to it and then we go off and running don't make a girlfriend so that so we have that in the calendar so now we filled in other things pickleball so what we did we're down here in Florida we joined the YMCA on a Sunday we took a pickleball clinic clinic on Monday and then Tuesday Thursday from 8 to 10 they have beginner intermediate um round Robins so we've been going to that that's in the calendar and we don't deviate from that that's so important for us to have that and we hate to miss it it is really fun and it's a huge part of our retirement now so that's yeah and that that really takes us till about 10 o'clock right and then from 10 to noon we will do some errands or personal time or you know laundry Car Wash I mean you need time to do that kind of gather up things that we might need for lunch but then the afternoons on Tuesdays and Thursdays we're working at retirement transforms that's what we're doing right now so we're working you know from one to three from one to four that's when we post our calls that's where you know that's when we're more productive because our energy level is high because we had done our morning routines so really Tuesdays and Thursdays are pretty set yeah and Wednesday mornings when we play golf and we get up we get up early so we have a standing 7 15 T time 20 minutes from here we're done by 11 we come back home and again we work from one to three so we get two days of pickleball in and one day of golf and work wraps around that and it feels just awesome doesn't it yeah the only thing I'd like to add to Wednesday there is a great farmer's market in Marco Islands on Wednesdays and I'd love to do that right after golf so we'll do that next week I might add that get fresh fruits and vegetables that would be great now Monday is a day that is all day work and that we just have to have that so we do some heavy stuff in the morning from nine to twelve script writing um research research you know marketing whatever we need to do and then we break for lunch and in the afternoon was when we do our one-on-one coaching we have our marketing meeting our team meeting so it's our toughest day Monday but it gets so much out of the way and that leaves Tuesday Wednesday Thursday afternoons to do some of the fun things and then Friday you know Friday's always been one of my favorite days it's really a personal day for each of us you know we may or may not do some things together we may do things with other people individually or together as couples but you know really it's when we go practice golf you know we do pickleball with a smaller group we go maybe shopping maybe out to lunch maybe we have guests coming in on a Friday we run up to the airport but we really try to keep Friday open and maybe we just go our separate ways yeah I mean I don't know what Jody's doing she doesn't know what I'm doing it's just kind of a relaxing day which slides us into weekends that we don't schedule anything yeah that's just like during our career it's wide open and you know we can do do a bike ride we can go to the beach we can play Pickleball if we want we just do what we want but it's no work but maybe some house chores I think the difference is you know when we got into this business people would say to us isn't every day like a Saturday and and you know that's just not a mentality we wanted to take and as we looked for a plan and I mentioned earlier that we couldn't find one and we started to develop our own and then developed the company it overwhelmed us a bit right so putting these kind of barriers in place around fun and things that energized US helped the business a lot right now because of this scheduling here's a couple other things that have really helped our life and why we are so excited about the way we're doing things now because our work day ends at three o'clock we cook home a lot more we have time to do it it's healthier we do it together and it saves US money yeah and the other thing is we're saying yes to more things so if you're out there and you're inviting us somewhere don't invite because you think you need to because we'll probably say yes you know spur of the moment dinners out or you know watching the sunset with ourselves or another couple a late night bike ride or even you know picking a movie and not having dinner and eating popcorn for dinner we're trying to put that air of flexibility and fun in retirement as we build the business it just feels better what we're doing right now which is great you know our five pillars are core to our retirement making time for all of them is really critical to us but we found when we put wisdom sharing first so much of what we dreamed about in retirement was just not happening yeah and this pivot was so needed for us and we're having such a good time with it changing our priorities it's given us Newfound energy and freedom to do what we've always wanted to do but we never really made time for it now we hope you enjoyed this video and if you did this next one the five things you should never ignore in retirement you're going to love that we talk about health relationships creating community and also the importance of financial planning so watch this one next
Recent Comments