A sunk cost bias is an economic term (also known as sunk cost fallacy) describing an error in decision making. Basically, we allow past decisions or events to overly influence future decisions. We let what was trap us and lead us into irrational decisions about what is. Learn more in this episode of Retirement Answer Man.
Read MoreEver see a cheetah run at full speed? It’s impressive, especially in slow motion. They’re not holding anything back. There’s a lot to learn from the cheetah when it comes to living. Too often, I see people entering retirement while pulling back on life.
Read MoreIf you want a great retirement, you don’t need better answers, you need better questions. On today’s episode, I’m going to suggest some better questions that will help you make better decisions. You’ll learn to start with the design and work your way down to the tactical decisions for a great retirement.
Read MoreThe top financial stress in America, according to a Gallup poll, is not having enough money for retirement. In this podcast interview with Emily Guy Berkin, we will discuss why there is so much financial stress, how to get a better understanding of your relationship with money, and specific steps you can take to decrease your stress about money. Listen in and stop financial stress now!
Read MoreEntrepreneurs and small-business owners do all sorts of wacky things with retirement savings, but let me just call out the biggest mistake I see entrepreneurs make:
More than one in three entrepreneurs have no retirement savings plan.
Read MoreThere is a growing trend of Americans retiring outside of the country. Should you be one of them? That’s the topic of today’s episode and interview with Keith & Tina Paul, who are retired and living in Cuenca, Ecuador. Listen in to get a glimpse of what it is like to retire overseas and find out how you can begin exploring the idea.
Read MoreThe other day, Tony Romo announced that he's retiring from the NFL and football. But Romo isn’t just retiring to a golden palace on a lake to live comfortably off his huge NFL salary for the rest of his life. Romo is becoming the lead NFL analyst for CBS. That’s reimagining retirement.
Read MoreDo you want to have a great retirement? Make sure you value the right things. It is possible to make a million dollars and feel poor, or to make $60K and live a rich and full life. On today’s episode, Jason Parker joins me to talk about how to calculate your retirement spending and make wise choices that will benefit you long-term in your retirement years. Listen in to learn about the new software tool that Jason has developed that helps with this process and to find out how you can get started on counting the cost of retirement.
Read MoreRetirement often comes with two of the most liberating words some people ever experience: “empty nest.” Those same two words turn other people’s formerly busy, fulfilling life into a personal dungeon of loneliness.
We’ll look at both sides of the coin on today’s podcast.
Read MoreToday we’re going to talk about the science behind the fixed portion of your portfolio. Index-based investing is currently the popular way to manage this side of your investments. But remember, you want to “know what you own and know why you own it” (Peter Lynch). Listen to this episode and follow through with the 7-day goal to gain a better understanding of what you own and why!
Read MoreIn today’s podcast I’ll take you through a three a 3 step framework to determine how much insurance you need.
Read MoreOn this episode of The Retirement Answer Man, I’m going to walk you through “5 Ps” of a good investment philosophy that you need to consider in order to make the best choice for reaching your goals.
Read MoreIn this week’s podcast, I share with you three secrets of influence that I’ve discovered that could help you if you’re trying to build your own influence before you retire.
Read MoreIn this episode on the role of asset allocation in retirement, I’ll talk about how we also need to break some of the rules to serve us in creating a great life.
Read MoreIn today’s podcast, what unchecked GDP growth could do to your retirement.
Read MoreHow can you plan for retirement when you don’t know which market forecast to rely on? That’s the topic of this episode of The Retirement Answer Man.
Read MoreToday we discuss The Rational Optimist by Matt Ridley.
Read MoreOn this episode, I’m going to take a fairly deep dive into the institutional approach to asset allocation that has been the basis for retirement planning for many years - and I think once you understand the premise behind it, you’ll see that it’s a bit antiquated for modern retirement planning purposes.
Read MoreGlobal insurer Aegon recently released the results of a survey that revealed the top retirement aspiration worldwide was to travel. But something I’ve seen many times is that many retirees aren’t healthy enough to travel. Or worse, unexpected health care costs rob them of the funds to travel.
Read MoreOn this week’s episode of the Retirement Answer Man, we’ll talk about risk management, types of risk to watch out for, and why the common approach to managing risk might not be a good fit for you.
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