Should I Invest in Individual Stocks or ETFs in Retirement?
b'
Is it worth investing in individual stocks or should you simply go with ETFs? Joe has recently parted ways with his financial planner and is beginning to manage his portfolio himself and was wondering about the benefits of these choices.\\xa0
Tanya Nichols and I will explore Joe\\u2019s questions as well as others on this episode of Retirement Answer Man. Listen in to hear the benefits of owning ETFs vs individual stocks, how to structure your Roth conversions, and what to do about health insurance before Medicare.\\xa0
Making decisions is rarely a cut-and-dry process
When making decisions, we usually look for a clear answer: yes or no, do it or don\\u2019t do it, jump or don\\u2019t jump. However, judgment calls are rarely so simple. Usually, we are operating without all of the pertinent information, so we have to make assumptions about how the future will look.\\xa0
The process of brainstorming is messy. There is no crystal clear way to go about making decisions, and once you do you probably won\\u2019t know if you chose correctly.\\xa0
When confronted with choices you\\u2019ll want to have a framework to explore decisions in an organized way. Then you\\u2019ll want to relax and consider all the options. When you take the pressure off you\\u2019ll have more opportunities to come to a good decision. Next, dive into the process and see what comes. You may explore several different scenarios before coming upon your final decision.
What I\\u2019m reading
My strategy for reading this year has been to make reading my default activity. Reading is what I go to when I\\u2019m waiting in line, have spare time at home, or when I\\u2019m taking a walk (via audiobooks, of course!). This new mindset has led me to read 33 books so far this year. Today I wanted to share with you the most recent books I have read and my thoughts on them.\\xa0
Boys in the Boat\\xa0by Daniel James Brown is an inspiring book that I highly recommend. It chronicles a member of a crew team in the 1920s and 30s and his life journey from childhood and then on to the 1936 Olympics.\\xa0
Quit\\xa0was written by Annie Duke the author of Thinking in Bets. Annie was a professional poker player turned decision-making expert. In this volume, she examines how hard it is to quit something once you have started.
Put Your Ass Where Your Heart Wants to Be\\xa0by Steven Pressfield is a fast read\\u2013you could finish it in a day. This is a great book that helps people work on challenging goals. This book will help you get past the resistance.\\xa0
Courage Is Calling\\xa0by Ryan Holiday is a book that will enrich your soul.\\xa0
It Takes What It Takes\\xa0was written by Trevor Moawad who was a performance coach for elite athletes. This book on mental conditioning promotes the thesis that if you want to be great at something you have to make a choice to do the things to make you great. Making the choice to be exceptional clears the path to greatness because it takes everything else off the table.\\xa0
The Dichotomy of Leadership\\xa0by Jocko Willink was written for leaders on the aspects of finding the virtuous mean.\\xa0
If you have any great book recommendations I\\u2019d be happy to hear them. Just head on over the\\xa0Ask Roger\\xa0page and leave an audio suggestion or write it in.\\xa0
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
PRACTICAL PLANNING SEGMENT
- [1:23] On making decisions
- [4:11] What I\\u2019ve been reading
LISTENER QUESTIONS WITH TANYA NICHOLS
- [19:33] Should Joe invest in individual stocks or ETFs
- [27:36] What to put in Roth conversions
- [32:45] What should Todd do about insurance between the ages of 58 and Medicare?
- [42:22] Looking for resources on the ex-pat life
TODAY\\u2019S SMART SPRINT SEGMENT
- [44:38] Treat people as they could be
Resources Mentioned In This Episode
BOOK -\\xa0Boys in the Boat\\xa0by Daniel James Brown
BOOK -\\xa0Quit\\xa0by Annie Duke
BOOK -\\xa0Put Your Ass Where Your Heart Wants to Be\\xa0by Steven Pressfield
BOOK -\\xa0Courage Is Calling\\xa0by Ryan Holiday
BOOK -\\xa0It Takes What It Takes\\xa0by Trevor Moawad
BOOK -\\xa0The Dichotomy of Leadership\\xa0by Jocko Willink
Roger\\u2019s YouTube Channel -\\xa0Roger That
BOOK -\\xa0Rock Retirement\\xa0\\xa0by Roger Whitney
Roger\\u2019s\\xa0Retirement Learning Center
\\xa0
'