#79 Want to Start a Business? Learn How to Fail Forward

Retirement planning is as much about additional sources of income as it is about investments. Roger’s guest today, Matt Miller, has built a company that offers savvy retirement planners a legitimate way to add an additional stream of income to their current situation - either on the side or with hopes of it moving toward a full-time business. It’s entrepreneurial to the core; becoming a business owner, making your own rules, living the life you want now, instead of waiting for retirement. But it builds toward retirement as well. Matt’s story is inspiring… and you’ll hear it all on this episode of Retirement Answer Man.

From the military to corporate, to entrepreneur - Matt’s story

Matt Miller was a pilot in the U.S. Military, and when he decided to step out of that life the transition was more difficult than he thought it would be. Though the government had spent plenty of time and money giving him outstanding skills, potential employers seemed hesitant to give him a chance because they weren’t sure he’d stick with them. They thought he was likely to return to the military instead. As Matt dealt with the corporate politics and the difficulties of achieving the freedom and levels of success he wanted, he realized that his future retirement AND the life he wanted now were things he’d have to go for on his own. Get more details on this episode.

Retirement planning is about more than just amassing a pile of cash - it’s about making a meaningful life

That’s a mindset that many people planning for their eventual retirement don’t cultivate enough. Your life after retirement can be, and should be rich with activities that make a difference in the world. Matt Miller (today’s guest on the Retirement Answer Man) says he could never see himself sitting on a beach doing nothing. He doesn’t want to be that person. He’s got to be busy investing himself in causes that are important to him, no matter his age or degree of physical stamina, and he’s built a business that makes it possible for him to do that, and empower others to have the same opportunity. If you’re tired of the rat race and want something different for your future, you should check out Matt’s great opportunity. Find out more by listening to this episode.

A listener question: Can I contribute to my ROTH IRA even though I’m not eligible to do so?

ROTH IRAs do have some limitations on when and how contributions can be made, especially if you’re single and make over a certain amount of income in the year you want to make a contribution. In this episode of Retirement Answer Man Roger fields a question from a listener who is in that exact situation and in doing so sheds light on the ways contributions can be made in that situation, and whether they will be tax free contributions or not. If you’ve got questions about your ROTH IRA, you should listen to this helpful Q&A with the Retirement Answer Man.

Do you have a question for Roger Whitney, the Retirement Answer Man?

Roger would love to hear from you and answer your question on an upcoming episode of RAM. You can easily submit your question in one of two ways: 1) Visit the website at www.RogerWhitney.com/retirementanswers . You’ll be able to leave your own voice message for Roger, asking your retirement related question. Or if you prefer to send in your question in writing, you can email roger at Roger@wwkllc.com . He’d be happy to hear from you!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

[1:20] The revamp of the Retirement Answer Library - easier to use and to find what you need - www.RogerWhitney.com/learn
[3:35] How you can leave your question for Roger - www.RogerWhitney.com/retirementanswers or send Roger an email - roger@wwkllc.com
[5:27] LISTENER QUESTION: How can I make a contribution to my ROTH IRA given that I am single and make too much money to contribute?
[12:03] Introduction of today’s guest - Matt Miller.
[14:00] The obstacles Matt discovered transitioning out of the military and into the corporate world.
[16:20] It’s not just about building a pile of cash for retirement, it’s about a meaningful life.
[17:09] What Matt’s business does that creates his personal income (and income for franchisees) and adds great value to the world.
[19:22] The dangers of getting into the vending industry (where Matt’s company operates), and how Matt’s company is different.
[21:46] Raising up generations of entrepreneurs.
[22:57] Why mindset is most important for Matt’s franchisees - and what that looks like.
[24:48] Matt’s view of retirement - what it means to him and how he thinks about it.
[26:43] How Matt is living on his own terms now rather than waiting for retirement.
[28:10] What kind of business should you start? How Matt made those decisions.
[30:07] The one trait that enables Matt to be successful.
[30:55] 13 years to overnight success - the power of continued iterations.
[32:42] Get in touch with Matt Miller.