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Episode #545 - Retirement Plan Live: Lessons From Mike And Judy’s Investment Experience
Roger: The show is a proud member of the Retirement Podcast Network.
Hey there. Welcome to the show dedicated to helping you not just survive retirement, but to have confidence because you're doing the work to really lean in and rock it. My name is Roger Whitney. By day, I'm a practicing retirement planner with over 30 years’ experience, founder of Agile Retirement Management. For the last 10 years or so on a weekly basis, I've hung out on this show. So many of you have hung out, almost as long to do a couple of things.
Number one is for me to hone my craft. If this is my lab to hone my craft, but more importantly, to empower you to create a retirement plan of record that you can have confidence in so you can go off and create a great life, which is the whole point of the exercise.
Today on the show, we have Mike and Judy. We've been talking to them throughout the month. We heard their values, what their ideal retirement goal wise looks like, the resources they have today. We're going to explore their investing experience.
And then on July 8th, live, they're going to hang out with you and I, if you want to join us, and we're going to look at a feasibility test to see if their ideal retirement is feasible. If not, how do they get to a feasible plan so they can have confidence that they can move forward with their life in retirement?
We're going to do that on July 8th. If you want to attend live or receive a replay in the event that you can't attend, you can go to livewithroger.com and sign up for that live event. That's going to be a blast. It always is. With that, let's get on with the show
In addition to the live event on July 8th I want to invite you to join the Rock Retirement Club. We'll have open enrollment for about a week or so. We're bringing in a new cohort and the Rock Retirement Club is an online platform where you're going to get the tools, the education and the community support to create your plan of record and be able to communicate with retirement planners like me, as well as others that are on the same journey.
We just had a live event with the club in Denver. We had about 20 people hang out for four hours and just had a free-flowing conversation about the financial and the non-financial side of retirement. Tom Strong, club member, had a phrase when we were talking about building a retirement plan of record and he says,
"What I love about it is it puts life in the middle. It doesn't put the money in the middle. It puts life in the middle."
I want to thank Tom for that catchphrase that I told him I was going to steal, but I gave you credit there, Tom. We also had a great discussion around a lot of non-financial topics. So, we would invite you to consider joining the Rock Retirement Club starting July 8th. You can learn more about that at rockretirementclub.com.
Today's discussion with Mike and Judy, we're going to explore their investing experience. So, we're going to talk about past successes and failures where maybe they've had some conflict or alignment in how they invest and how they think about investing in retirement in order to fund their plan. This is an important discussion that's often overlooked.
I'm 57 years old. I used to go to amusement parks all the time and I could go on roller coasters. I used to really love them, but I'll tell you, even though physically I can handle going on a coaster and completing the ride, I don't have any fun when I do that nowadays, it's not the kind of ride I want to go on.
Similarly, when you are building your retirement plan of record, it's important that your investment approach matches what you're comfortable with, so you can set yourself up for success. It doesn't matter whether mathematically an investment strategy works for your retirement plan. If you're going to white knuckle it and hate the ride and not be able to go enjoy yourself because you're so worried about the world and the markets.
That's why getting a strategy that matches who you are internally is really important. So, you won't hear it today, but on the live results webinar, we had Mike and Judy take what's called the Retirement Income Style Awareness Questionnaire, test, whatever you want to call it, the RISA developed by Wade Thao, as well as Retirement Researcher. We actually licensed this for the Rock Retirement Club. It's essentially a personality test that is focused on identifying investment styles for retirement. Are you comfortable with more of a safety-first approach or more of an optionality approach? It's not perfect, but it helps build richer discussion so you can build a strategy for success.
We're going to share a resource in our Six Shot Saturday email. A three-page PDF that talks about how RISA works. If you're not signed up for Six Shot Saturday, you can do that at rogerwhitney.com. We'll explore this with Mike and Judy as well. So, let's check out Mike and Judy's investment experience.
MIKE AND JUDY’S PAST INVESTING EXPERIENCE
We're back with Mike and Judy. This is what happens in planning. Everything gets thrown up in the air when you think you're starting to build a framework for decision making. So, we have some updates from Judy in this case. So, Judy, what's going on? You're going to change everything on me. What is it that you're facing at the moment?
Judy: Well, I think I told you when we talked before that Mike and I are dinosaurs because we are of the old school where you go to work at one place and stay there forever. I've been at my current job for 34 years. He's been where he is for 30 years, and just last week, I've been contacted by a different entity about a possible position in my hometown where I wouldn't have to commute. It'd be some less hours. Significantly less commuting from two hours to five minutes. Yeah, so I'm thinking about it and this is not something I anticipated at this stage in my wildest dreams.
Roger: Let's frame this a little bit. So right now, you have a two hour commute, right?
Judy: Right.
Roger: Then I recall you said that you work with multiple clients so you have a lot of balls to juggle and it's fairly high pressure.
Judy: That's supposed to be on a reduced hour schedule supposed to be three fifths time, but it never happens.
Roger: Yeah, but you get three fifths the pay, right?
Judy: Yeah.
Roger: What a great deal. If I recall from then, what do we want segment you want out of this pressure cooker. If I could retire today, I would be I think the phrase.
Judy: Yes, and my long-term plan was to only do 2 more years there. If I switched to a different position, this other position, I think it would be a significant pay cut. So, I think I would have to do more years.
Roger: So, well, we don't know yet, remember, because we haven't gone through what's feasible or not. We don't know enough information to make that assumption.
Judy: Until, you know, Mike started throwing out crazy stuff. Like ball fast in the backyard things that were not on my list.
Roger: Okay, so currently What do you make in your current position?
Judy: 115.
Roger: 115. Okay with a two-hour commute high pressure.
Judy: Yes
Roger: So that's option one.
Judy: Well, it's not really option one because they told me today that someone is going to talk to me tomorrow about a pay increase offer.
Roger: Okay, so 115 or more, and then this 2nd option, we're talking theoretical here. You don't have another position. How long were the commute being in that new position?
Mike: Yeah, I mean seven minutes five minutes. It's not even three miles.
Roger: Okay, and reduced work hours from what would you say you work, actual work in your current position?
Mike: That's the catchy part because her job is like, It comes in waves. So, she will be working, I mean, 12 hours, 14-hour days, for 2, 3 weeks. Then she'll go through a couple of weeks where she's stressing. She's like, I don't have any work. There's no work at the office. They're not giving me any work and then about the time we go on vacation. She'll get another case, and it'll be another 14-hour days for 2 or 3 weeks. It's crazy. Right now, she's kind of in a low point.
Judy: So, a lot of flexibility, except when I have deadlines and I do pretty much all the emergency work. So, I have a lot of deadlines.
Roger: Then in the new position, you have a 7-minute commute.
In theory, what would be your compensation? It would be reduced hours. I think is what you said. What do you guesstimate the compensation would be?
Judy: 80.
Roger: We'll go 80.
Mike: I mean, she can specifically tell you how many hours she's been working.
Judy: Well, I can't because billable hours are different than work hours.
I may be there for 8 hours and you know; I'm dealing with putting out fires and stuff and so. I'm not writing all that time down.
Roger: Okay, so we're going on option B here. We got about 80, 000 in income. It's a seven-minute commute not a two-hour commute. I'm assuming that's the two hours is one hour each way. You would be working for one client not multiple clients. What do you anticipate the rhythm of that work to be?
Judy: At first for the first few months, it would be like in the office two and a half days a week, and then the person has told me that it would, after that it could be what I want it to be. It'd be flexible. It could be that I could work remotely, which I don't want to do. I want separation between work and life that I don't have right now, but it could be the days that I want it to be.
Roger: Would it be this. deadline driven pressure cooker, that type of work.
Judy: No, unless it's like an immediate, like half an hour deadline. I mean, it's not going to be the kind of deadlines I deal with now.
Roger: It's not going to be filing briefs. It's not going to be 12, 14-hour days at times. It's going to be more consistent.
Judy: Yes.
Mike: Right. Should be very consistent. I think.
Roger: What about the people? Tell me about the people at the current job. Is it an A type personality? It sounds like it's, you know, from the type of work that it is. What about the new place?
Judy: I don't know. I don't know them. Yeah, you may hate them. I love them. Yeah, right and I did the exact words out of one of the people I work with today was better the devil, you know, that was the pitch they were giving me today. It's better the devil you know.
Roger: Which sounds horrible to me. That just sounds horrible to me, better the devil, you know, how about no devil at all?
Yeah, we're bad. But at least you know that we're bad. Stressful, right?
Mike: The thing is, most of her friends through our discussions with each other, we figured if she made a 3rd less, instead of working 2 more years, you work 3 more years. In the new job, and they're all like, why would you do that? You're this close. Why would you do that? Why would you choose to work 3 instead of 2 years? And things like that, and so she's getting a lot of that from the people she's talking to. But me and Judy, Judy does not sit around the house very well. I'm not sure how well she will do retirement. She'll try to find something to keep herself occupied and, in my opinion, I think a 2 and a half day a week, especially when it becomes remote and very flexible, we could be out of town and she puts some time in a few hours each day or whatever. You know, there's a lot of ways to do that. I think it would be much less stressful for me and I think it would be very beneficial to and I'm working an extra year.
I don't think would be that bad of a thing. I'm planning on substitute teaching. I'm going to keep working. I'm going to do something because I don't even want to play golf 7 days a week. So, for that reason, I think it's something that she should seriously consider.
Roger: Well, I don't have to ask him what he thinks. My first thought is there's a couple of things I heard in there that I just want to point out.
One is you assume is fact that you would have to work longer if you took this new position because it's less income. We don't know that yet. So, it's not actually known. That's a premise that we can easily make for ourselves before we actually have enough information the second thing I wanted to point out was in terms of everybody that it's natural to ask counsel from friends and people and it's important to remember I think that their answers are going to be colored by their own reality and decisions that they've made in their own situation that have nothing to do with you. So, we're going to be careful about those things.
What I hear is I can go from making 115 or more when they hang the carrot to 80, 000. Big difference. You end up saving, I'm just going to call it two hours of your life from commute standpoint. That's huge. You're going to go from high pressure to consistent, and you're going to go from hot and cold, sweet and sour to more consistent and more remote. So, it really comes down to is the extra money worth it relative to what your life balance.
Judy: Then there's also at this point, do I want to learn a whole other Area of the law and I’m sort of an expert in what I do even though I am thrown into different emergency situations.
Roger: That's a good point. It’s going to be totally different new computer system. The bathroom is going to be in a different place. You have a reputation where you're at? You don't have any reputation with anybody in the office where you're going. Is it worth, you know, do you really want to make new friends and, or do you really want to have to prove yourself again, necessarily?
Mike: That's actually one of the things she's concerned about is like, She doesn't have to see her coworkers out of work. She didn't have to be chummy with everybody and things like that. We're not exactly extroverts very well. So, she's like, because we were out last night and I said, oh, that person over there, it works at this place you're looking at and she's like, see, I don't know if I want that. I don't want to run into people after work and have to talk to everyone and stuff like that.
Roger: You like your separation, and I get that. Because then mentally, you don't go talk shop when you're relaxing.
Mike: No, just like me. I don't like to go to the movies because I'll see students. I'm like, so I don't go to the movies.
Roger: Lots to think about here. So, my question would be, and then we can go on to talk about investing, and you don't have to answer this right now. This is a question that I want you. What is most important to me? What am I trying to solve for? Because this could be a gift from heaven to allow you to, with training wheels, have more free time, but still some structure so you can figure it out because it's supposed to be tension, something new. This might be good training wheels. Definitely give you back two hours of your life just right there. What's more important to you, that or the money? No wrong answer. It's just what everyone is most important to you. We will factor this in as a what if scenario to look at to see the impact on the feasibility of the plan. We haven't even gone there yet.
Since you're facing this decision now, and we're recording this before the live, we'll probably do this privately just to help give you some insight, framework, but we'll also do it when we're meeting live.
All right. Let's switch, money, investing, risk. Tell me your investment philosophy.
Judy: Throw money at it and hope that it grows miraculously. What I have done.
Roger: Pretty much for decades?
Judy: Yes, exactly. For decades.
Roger: Okay. So, you don't have a subscription to the wall street journal?
Judy: No, I mean, I do run into a lot of financial issues and working with trusts and working with securities claims and working with, but not things that relate to me. So, when I first started listening to your podcast and other podcasts, I'm like, oh, that's a thing. Oh, that's a thing. You know, that's the 1st time that I've had these considerations. I mean, really, I've just put money in my 401k since the beginning, I knew what the match was. I was doing that then I started upping it.
I heard one time that diversification was good.
Roger: I was going ask what do you own in that? What do you own? How many different positions do you own?
Judy: I counted today. There are 13 funds in my 401k. I'm in at least two different target date funds because I didn't know when I would retire, so why not just split the difference?
I mean, it's crazy and I never rebalanced because I don't know what I started with. So why rebalance?
Mike: May I say something? Can I interrupt?
This is something we've dealt with in our entire marriage ever so often. She would comply. I don't know this money. I don't know what I'm supposed to be investing in, you know, all this stuff and I do not know either so it's certainly not anything that I'm knowledgeable about.
I would always say, well, let's find an expert. Let's find an expert. Let's get with a financial advisor, stuff like that. So eventually. I connected this with a financial advisor from the club that I made connections with from the club. She doesn't trust anyone. She always thinks she's smarter than everyone else.
Roger: She just smacked him. I saw that.
Mike: It's just been like this our entire marriage and I’m like, oh, let's go see our financial advisor Let's ask her financial advisor.
Judy: We met with our financial our tax guy about and I specifically gave him the list of everything I was invested in my 401k, and he didn't want to do that. That's outside of his bailiwick
Roger: Okay, she had 13 different positions in your 401k. You like the target date funds. Do you know how the target date fund works?
Judy: Yeah, I do now. You know, thank you.
Roger: Okay, and during that period of time with however many funds that you have, what would you say is average the percentage that are stocks versus bonds?
Judy: I do know that because, you know, it tells you that on the website. In my 401k, it's 61 percent stock, 32 bonds, and 7 stable values.
Roger: Okay, so 60/40.
Judy: In my inherited IRA, it's 76 equities and 24 guaranteed. I don't know what that means because it's with TIAA CREF and I think it means I can't get access to it. Somebody told me I can't get access to that, but over a 10, it's like an annuity that's not turned on yet, is what someone told me.
Roger: So, if you're 60 percent stocks, 40 percent bonds, was that by design or just after you chose everything on the cheesecake factory menu, it ended up that way.
Judy: I wouldn't say it's by design. I mean, I think at some point I probably had something in my head that I heard somewhere and probably went in and did change some allocations, but that was so long ago.
Roger: Okay. In 2008. That 60/40 portfolio from the peak to the bottom would have gone down. Let's call it 25%. So, you likely lost 25 percent of the value, even though you're contributing.
Did you freak out at all? How did you guys think about that during that period?
Judy: He didn't know it happened.
Mike: Yeah, it just really wasn't relevant to us the way we saw it. I mean we were still so far out from retirement at that time and we always had the attitude of it's out of our hands. There's not much we can do about it So it just it just wasn't anything that we really freaked out.
Judy: We didn't make any changes
Roger: Okay, if you weren't working and you lost 25 percent of your money and that was the money that you Depended upon
Judy: I can't imagine. I mean, I would be freaking out for sure. Yeah. Not a big risk taker.
Roger: What do you mean by that?
Judy: If I could have a feasible plan with CDs only, I would do that today. Like I don't care about the upside. I don't care, like I would block it down.
Mike: Yeah, I try to get her to invest in, what is it? Storage units. I had an opportunity to invest in storage units 10 years ago. I was like, Kathy, printing money. He always says printing money.
Roger: So, Mike, are you more of a risk taker? How would you describe your thoughts on investing?
Mike: Yeah. I would say I am, but I'm still not knowledgeable enough to know what to do with it.
I would be willing to take that kind of risk, and I've spent my whole life looking at potential investments and things like that. I've talked to friends when playing golf and not hear things. Then I used to come to her with these ideas and she was not interested, and so eventually I just kind of gave up on that.
There are times when I think we would probably have a lot more money right now if she would have listened to me about 15 years ago, but we're okay.
Roger: When you think about retirement and this is both of you not having income anymore. That's scary. You can lose all agency. You can't dig yourself out of bad mistakes or just life.
What worries you most when you think about that?
Mike: Having to go back to work.
Roger: Having to go back to work?
Mike: I mean, I really think about that. When we were talking about this new job potential and working one extra year is the number we were just playing with. I thought. Part of me was like, that's one more year that we wouldn't start drawing out from our retirement, you know, so that's one more year that I will be safe. You know that I would feel awful if we got into a situation and she had to go back to a stressful work environment like that and so forth, and I would have to take a job or whatever.
Roger: It's interesting you phrased it that way. If the income was there, that's one more year we would be safe is what you said, which also says if we have income, we're safe. If we don't, we're not. Would you agree with that?
Mike: Yes.
Roger: Okay. What else are you concerned about when you think of leaving work?
Judy: For me, it's like, just decision making, like, social security, claiming decisions. What to do, like, when, if I leave work, do I have to take my 401k with me? Where do I put it? How does that work?
Roger: The logistical stuff around it, logistical stuff.
Judy: Yeah, and then spending shocks, I mean, I don't pay attention to the markets and I don't pay attention to inflation. My number on the website that I check before coffee every morning.
Mike: Okay. So that 2008 happened again. She would have a cow.
Roger: Yeah, you're checking it now because you're so close and you're thinking about this. Is that that the idea?
Judy: Yeah.
Roger: Okay.
Judy: The only real, like, spending shocked that I worry about is Mike not getting my social security spousal benefits, you know, if I pass away, or long-term care if I don't pass away, that's, that's your choices.
Roger: We'll stress test against those types of things. You mentioned that, you know, for the longest time and it sounds like it's more Judy here than you, Mike. He didn't listen to financial stuff. He didn't look at the markets and everything else. Then you probably started thinking about retirement and you found obviously this show and others. Do you think they've helped or hurt?
Judy: No, they've definitely helped because It's given me some clarity. I know what I'm supposed to be thinking about. There are some things that are a little too much information.
I know I have Wade Fowl's really thick guidebook and that sometimes I just have to skip large sections, but I think I know what to think about.
Roger: Okay. That's good to hear. because I can see this get so in depth with, I work not to, but people like me and others chopping up the onion and looking at all the little bits and pieces that, of how the machine works and all the nuances where it doesn't really matter and I think Mike we related to you is like golf balls or golf clubs, right?
Mike: Right.
Roger: There are people that geek out on those things to degrees that can I hit a ball with it is really what I need to know and sometimes it can be over complicated, so it's good to hear that it's not.
Judy: It's taken me a while to figure out that there are certain things. I just don't need to worry about it because there's different, I don't know if it's like taxes or different things that apply to people that do not apply to me. Like, I'm not there are people with way more money than me, they're listening to the same, shows and asking questions about things that don't impact me. I've finally been able to flip that switch off and be like, Oh, that's a thing, that's not me. That's not me. That's not me.
Roger: I have one last question. I purposely didn't do this in a formal way from a risk tolerance type of thing. I just wanted to get a sense of the two of you. In your mind How are you going to pay for retirement? What structure are you going to do to recreate a paycheck?
Judy: Well, we have Mike's pension. So that's a paycheck, and then we'll have social security at some point and that'll be a paycheck. Then we want to have a thought through and thoughtful idea of, like, your pie cake issue that's, I don't know, like, I don't know where the third piece comes from.
Roger: Okay, exactly how that's put together.
So, you're not thinking of a dividend strategy.
Judy: Oh, no, no.
Roger: Pie cake is more of a time segmentation bucket type of strategy. We'll try to get some clarity there.
Judy: I know, like, my parents, my mother did as far as look back, what I can tell is she took her entire retirement portfolio and split it maybe in half, I can't really tell and put it in an annuity, a double life, 20-year guarantee annuity. Then the other half would travel based on the interest from the other half. Then live off the annuity and that served them well, that's what my dad's still living off of.
Roger: Does that type of structure where you essentially take some of your money and buy a paycheck by a pension? Does that appeal to you?
Judy: It does. Yeah, I mean the idea when you're talking about people who don't have a pension like Mike does I guess it's so foreign to me because both my parents were teachers, and they have this annuity just the idea of having to pull from a fluid pile of cash annually would stress me? I mean, you talk about don't let retirement planning become your job. It can very easily become my job. I can very easily be on my spreadsheets four hours a day.
Mike: I think the most important question is Roger. Does that appeal to you?
Judy: You're saying I'll do whatever he tells me to do?
Mike: That and you'll take whatever's safest but might not be the best option.
Roger: Yeah, it's interesting because it's not just a financial consideration. It's a psychological one, too. I don't have an answer for you today.
Anything that you wanted to share that I didn't ask about before we wrap this up.
Judy: No.
Roger: I'm excited to hear what you guys do job wise and everything else.
All right. So, next time we see each other are going to be with everybody else. I won't be able to see your faces because you won't be on screen where we walk through. Is this feasible and we'll have a couple what if scenarios and if it's not what is and begin the journey of getting to a feasible plan of record so you can go on and make it resilient.
Mike: Sounds great
ROCK LIFE WITH KEVIN LYLES
Roger: All right, it's time for our rock live segment with my favorite, wait a second. I can't say you're my favorite Kevin because I know a couple of Kevin's and Kevin Sebesta is awesome. So, one of my favorite Kevin's one of my two favorite Kevin's. How's that?
Kevin Lyles: Top two is pretty good.
Roger: Top two is pretty good.
So, Kevin, I think this is your brainchild in the Rock Retirement Club of a theme that we're working on of rocking life in retirement. We're going to incorporate that into the show a little bit as well. So why don't we talk about what that is?
Kevin Lyles: Yes, and I did have the idea, but it came from several places, sort of all at once.
One of your listeners, I think, wrote in on your survey, and we'd like to hear from folks who've been retired a while, maybe. 70 years old and older and retired. We sort of talk a lot about the retirement transition years and how to make that transition. But we've had the Rock Retirement Club open six years now, and a number of people have been retired for quite a while and they're starting to look and say, okay, transitions over what's next.
So, we're starting this series of meetups in the club to just look at different issues you face. At one point we were going to call it Rocking the Slow Go Years and we thought that was a little too cutesy. Frankly we came up with that because some of the coaches were starting to feel like we're in our slow go years or entering, and so we thought let's take on some of these issues that aren't really related to the transition but are related to the later phases of life. There are some important ones in there.
Roger: We had Tom on in the podcast, we had Tom on sharing his perspective who he's in his mid-seventies and the idea is on the show. We're going to talk to people that have been retired for a while to get their perspective so we can learn from them. Right?
Kevin Lyles: Yeah. One of the things we're going to do in this series is, we're calling the member spotlights where we've got members who've been retired, I don't know if we said 5 years or 10 years or longer, to share their story. Not only learn about them but learn some of the lessons that they've learned through their retirement.
Roger: Be able to ask them questions and interact with them, so you can actually talk to somebody ahead on the trail.
Kevin Lyles: Yeah, and we've got a lot of issues we want to take on. Some of the obvious ones, we talk about legacy, and when we're talking legacy, we're talking both financial and non-financial.
The financial side, it's mainly about getting your documents in order, right? Your wills, your trust, your powers of attorney that you need, those sorts of things. Making sure you've got them in a binder somewhere, either virtual or hard copy, where your family and loved ones can find it.
But then more importantly, we're talking about non-financial legacy. It's not just how you want to be remembered, though that's a good one to think about as we live our lives. What do you want to pass on to subsequent generations of your family or your friends? What legacy do you want to leave them?
You know, I'm thinking of myself now as a new grandfather. It's, you start to think, what are the family values, the family stories that I want him to learn as he grows up, so the non-financial legacy I think is very important.
Roger: Well, this is going to be exciting in the club, but it's also going to be exciting in the show.
I was thinking Kevin, I’m in the middle of studying mental models, this is what I do. I'm sorry. I recently went through the circle of competence, which is you have an area where you're really competent and then there's a much broader area where you're essentially incompetent to some degree, right? It's just not your expertise.
Kevin Lyles: Like know enough to be dangerous. We used to say.
Roger: You tend to get overconfident the more you learn, even though you don't have the experience, but in studying that mental model. You walk through, well, what do you do if you have to operate outside your circle of competence, right?
So, if you think of anybody that's retiring, being retired is outside their competence because they've never done it, right?
Well, what do you do? There are basically four things you can do.
Number one is know you're outside your level of competence or circle.
Kevin Lyles: Good start.
Roger: Number two, start to learn the basics of that domain right, and there's tons of wonderful books by coaches and planners, et cetera.
Then number three, talk to someone who's circle of competence in that area is strong. Well, who else is that going to be other than people that are actually retired and have been there for a while?
Then the fourth one is just use some of your own mental models to learn from people ahead of you. I love this idea because it helps people build competence in an area that they don't have.
Kevin Lyles: Yeah, and it's really what we do in the club, isn't it? We learn from each other. We bring in experts, people who know more.
You're right. That's a great model.
Roger: Well, I'm excited for the series and thanks for providing the spark.
Kevin Lyles: Yeah, I'm looking forward to it. We're going to take on so many different issues. I haven't sent you our list yet, but we're up to like 20 different topics, aging in place, decluttering, simplifying your investment portfolios, impact giving.
So, we've got so many, so this series is going to go on for a while, I think.
Roger: I think another good one, add this to your list if it's not on there, is how do you financially assist your children without enabling them?
Kevin Lyles: Yes, we've been talking about that, absolutely. So, it'll be a good series and I know you're going to have some pieces of it on the podcast.
I think it'll be great for the listeners as well.
TODAY’S SMART SPRINT SEGMENT
Roger: On your marks, get set,
and we're off to set a baby step you can take in the next seven days, not just to rock retirement, but rock life.
So, in the next seven days, I want you to grab this RISA PDF that we share in 6-Shot Saturday, review it and have a discussion either with yourself and your investment experience and what you're comfortable with or with your partner so you can better identify not just simply what you need to do, but what you're comfortable with doing in terms of investment strategy. It can help create much richer discussions around that. So, you stay with a strategy to get to rocking retirement.
CONCLUSION
Well, thanks for hanging out with me today.
Next week on the show, we have Charles Duhigg talking about being a super communicator. That's the name of his new book. Super communicators, how to unlock the secret language of connection. This is really important. This is a core pillar in the non-financial world, relationships, and Charles is a great guy, wicked smart. So come hang out with us.
The opinions voiced in this podcast are for general information only and not intended to provide specific advice or recommendations for any individual. Foreman's reference is historical and does not guarantee future results. All indices are unmanaged and could not be invested in directly. Make sure you consult your legal tax or financial advisor before making any decisions.