BROADCASTS.com

b'

Rocking retirement doesn\\u2019t mean getting your Roth conversions right, it means minimizing your regrets. At the end of your life, you don\\u2019t want to think \\u201cyay, I\\xa0paid fewer\\xa0taxes!\\u201d you want to think \\u201cwow, my life was awesome!\\u201d Overcoming the frugality that stems from a lifetime of saving is one way to live a life free of regret in retirement.

To ensure that you can live life to the fullest, create a retirement plan that can iterate as life unfolds. When you have a feasible, resilient retirement plan that utilizes the resources you have you\\u2019ll be able to build the life you want. You\\u2019re already well on your way to rocking retirement by listening to the Retirement Answer Man show.\\xa0

On dialing back

Recently I committed publicly to publishing 2 episodes per week in an effort to improve the show. However, very shortly after making this change, I realized that it wasn\\u2019t a good change for me. For this reason, I decided to pivot back to one episode per week. I realized that it is important to live my life true to myself rather than base my choices on the expectations of others. Have you ever made a decision that you quickly had to undo?\\xa0

Should Gene pay off his house from a pretax retirement account?

Gene is considering paying off his house from his 401K account. He owes $200,000 at 2.5% on a 25-year loan. He would like to know what the best course of action would be in his situation.\\xa0

As with any major retirement planning question, my recommendation is to refer to your retirement plan of record. (To get a more detailed understanding of the retirement plan of record, make sure to listen to the next episode!) After walking through that plan with the mortgage in place, then you can create a what-if scenario in which you pay off the mortgage. This way you can compare each choice side by side to see which one would best serve your overall goals.

Listen in to hear why I wouldn\\u2019t take the funds from my 401K to pay off my house and hear what I would do instead.\\xa0

How to move from accumulation to distribution phase of life

You have saved for decades, so when the time comes to start spending that savings it can be a challenge to loosen the purse strings. Retirement is not simply about spending money: it\\u2019s about living your life to the fullest.\\xa0

Think about why you chose to save your money and act frugally for so many years. Chances are, you did so to achieve financial security and to pay for the best retirement lifestyle that you could afford. Achieving financial security means that you feel comfortable with your retirement plan. If you don\\u2019t have faith in your plan, consider having a professional look over your plan to bolster your confidence so that you can rock retirement.\\xa0

How to improve your life and overcome frugality

If you are a naturally frugal person, you may think that you have everything you need at this point in life, so there is no reason to spend more than you do. However, there are many ways that you can improve your life by spending money. Consider whether these activities would enhance your life.

• Eating out with friends more frequently
• Attending physical therapy
• Getting regular massages
• Hiring a personal trainer to improve fitness
• Hiring a nutritionist to help you plan meals

Overcoming frugality can help you live your life to the fullest and rock retirement. Think about how you could increase your spending to maximize your life.\\xa0

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

LISTENER QUESTIONS

• [4:00] A correction on QLACs
• [5:05] Social Security and Cola
• [9:25] An urgent inherited IRA question
• [12:30] On dialing back
• [15:08] Whether or not to pay off the house from a 401K
• [20:48] One listener appreciated learning about Roth conversions\\xa0

COACH\\u2019S CORNER WITH KEVIN LYLES

• [26:18] On overcoming frugality
• [29:42] Spending guaranteed income is much easier
• [31:26] How you can improve your life by spending
• [34:25] 3 tips to incorporate to spend your money

TODAY\\u2019S SMART SPRINT SEGMENT

• [42:55] Look for ways to enhance your life today

Resources Mentioned In This Episode

Start here\\xa0to listen to the Retirement Tax Management series with Andy Panko

Brian Johnson\\u2019s Optimize.me

Rock Retirement Club

Roger\\u2019s YouTube Channel -\\xa0Roger That

BOOK -\\xa0Rock Retirement\\xa0\\xa0by Roger Whitney

Work with Roger

Roger\\u2019s\\xa0Retirement Learning Center