Retirement Starts Today

Click here to work with us! Most people plan for retirement by focusing on their finances—building up a nest egg, securing passive income, and minimizing taxes. But what if that’s only part of the equation? Many retirees find themselves financially secure yet feeling unexpectedly lost, disengaged, or even unhappy. The truth is, money alone doesn’t guarantee a fulfilling retirement. Dr. Daniel Crosby explains how work naturally provides purpose, engagement, relationships, and growth—key elements we often lose in retirement without realizing it. Without a plan to replace them, retirees risk dissatisfaction, depression, and even health issues. The good news? By proactively designing your retirement around these five pillars—positive experiences, engagement, relationships, meaning, and growth—you can create a life that is just as rich in purpose as it is in financial security. Whether it’s through hobbies, social groups, volunteering, or personal growth, Dr. Crosby shares how to build a retirement that keeps you mentally, emotionally, and socially fulfilled for decades to come. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkThe Soul of WealthAmazonStandard DeviationsPodcastReport Connect with Dr. Daniel Crosby Chief Behavioral Officer bio @danielcrosby Dr. Daniel Crosby Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Click here to work with us! Many people fear running out of money in retirement, assuming they'll struggle financially once they stop working. But a recent Gallup poll shows 80% of retirees have enough to live comfortably, despite concerns about Social Security, longevity risk, and pension declines. Why the difference between expectation and reality? Many retirees find their expenses drop, Medicare covers more than expected, and Social Security plays a bigger role in their income. However, many still claim Social Security early, leaving money on the table. By making strategic choices, like delaying Social Security and managing retirement savings wisely, you can secure a more stable, stress-free future. If you're anxious about your retirement income, you're not alone—but retirees before you have found their finances more stable than they expected. By taking the right steps now, you can be part of that 80% who enjoy a confident retirement. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkGallup poll on retirement confidence55+ community comparison siteInvestment News retirement article Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Listen in to this BONUS episode as Canadian CFP and host of the Your Retirement Planning Simplified Podcast, Joe Curry, interviews me (Benjamin) about: Key insights include overcoming spending anxiety, identifying passions, building social connections, and planning purposefully for a no-regrets retirement. With actionable insights and a focus on mindset, this episode is perfect for those looking to simplify and enrich their retirement journey. Enjoy! Resources: Joe Curry's website and podcast Joe Curry on LinkedIn Book: Be Your Future Self Now by Dr. Benjamin Hardy Connect with Benjamin Brandt http://retirementstartstodayradio.com https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletter Get the book - out now! Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement Subscribe to Retirement Starts Today on Apple Podcasts, Spotify, Pocket Casts, TuneIn, Podbean, Player FM, or iHeart

Click here to work with us! Employee benefits are one of the most overlooked aspects of financial planning. We often check a few boxes during open enrollment and move on—but are we truly maximizing what’s available to us? This week, we sit down with Joe Saul-Sehy, host of Stacking Benjamins, to uncover the hidden value in workplace benefits. From disability insurance pitfalls to term vs. whole life insurance, Joe walks us through key strategies to ensure we’re not leaving money (or protection) on the table. Joe also introduces a powerful HR benefits guide, a resource designed to help us navigate workplace perks with confidence. Whether it's understanding own-occupation disability insurance, avoiding junk policies, or knowing when to self-insure, this conversation is packed with actionable advice. If you’ve ever wondered whether you’re making the most of your benefits—or if you’re just blindly accepting what’s offered—this episode is for you. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkWebsite: Stacking Benjamins Connect with Joe Saul-Sehy Twitter: @AverageJoeMoneyInstagram: @StackingBenjaminsLinkedIn: Joe Saul-Sehy Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Click here to work with us! What if you could turn those green numbers in your investment account into retirement income while paying as little in taxes as possible? That’s exactly what we’re covering today with Peter Lazaroff, Chief Investment Officer at PlanCorp. We’re tackling the challenge many of us face: managing deferred gains in our portfolios and figuring out the smartest ways to reduce the tax hit as we transition to retirement. Peter and I talk through a range of strategies for handling concentrated stock positions, whether it’s selling off winners gradually, taking advantage of tax-loss harvesting, or exploring more advanced options like exchange funds or a 351 exchange. These aren’t just dry financial concepts—they’re real, actionable ideas that can help you simplify your portfolio and make the most of what you’ve saved. And trust me, simplifying your financial “closet” can feel like a huge weight lifted. We also talk about the emotional side of investing. Why does it feel so hard to part with stocks that have been good to us? Whether it’s an attachment to the company or pride in your early picks, Peter shares why these feelings matter and how to move past them to make decisions that better serve your long-term goals. Stick around—you won’t want to miss the insights he has to share. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkPeter Lazaroff’s Book: "Making Money Simple"www.peterlazaroff.com/freebookPeter Lazaroff’s Website peterlazaroff.comThe Long Term Investor Podcast thelongterminvestor.com Connect with Peter Lazaroff Peter's website Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Click here to work with us! Can you be fired after announcing your retirement? It's a question that raises eyebrows and stirs concern for anyone nearing the end of their career. A recent article highlights the legal and financial implications of being terminated after sharing retirement plans, and it’s a scenario more common than you might think. Employers often operate under at-will employment laws, giving them broad rights to terminate employees, even after a retirement announcement. But what does that mean for you? Understanding protections like ERISA and the Age Discrimination in Employment Act can make all the difference in navigating this tricky situation. It's not just about legalities—financial stability, severance packages, and health insurance come into play too. On top of that, announcing retirement at the wrong time could mean missing out on potential benefits or buyouts. Striking a balance between professional courtesy and protecting your financial future is essential. When it comes to planning for life after work, the timing and approach of your announcement could impact everything from your wallet to your peace of mind. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkYahoo Finance Article by Christy BieberFreedom for Fido Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Click here to work with us! Are you spending too little in retirement, worried you might outlive your savings? Many retirees struggle to strike the right balance, often holding back on enjoying the wealth they’ve worked a lifetime to build. I’ll show you how to overcome those fears and spend with confidence while still planning for the future. What about real estate? Whether you’re thinking about renting instead of owning, leveraging home equity for long-term care, or even investing in rental properties, the right approach can make all the difference. I’ll share practical insights to help you figure out what works best for your lifestyle and financial independence. Retirement is your chance to live on your terms, free of unnecessary stress and worry. By understanding the psychology of spending and making thoughtful decisions about your biggest assets, you can enjoy the freedom and security you’ve earned. Let’s get started. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkMorningstar ArticleBenjamin Brandt’s BookRetirement Starts TodayCapital City Wealth Management Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

What does it mean to live a life of purpose? I talk with Jordan Grumet, aka Doc G, host of the Earn & Invest podcast, about how his work as a hospice doctor shaped his understanding of purpose and regret. His new book, “The Purpose Code,” offers insights on how to live with intention and meaning. We talk about the difference between "Big P" and "Little P" purpose and why focusing on grand goals often leads to frustration. Jordan shares how the terminally ill reflect on their lives, emphasizing the courage it takes to prioritize what truly matters. This conversation is about using time, money, and energy to create a fulfilling life. Whether you’re planning retirement or redefining your goals, Jordan’s perspective can help you focus on what lights you up and brings you joy. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkBookThe Purpose CodePodcast Earn and InvestBookTaking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life Connect with Jordan Grumet Jordan Grumet’s Website jordangrumet.com Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Originally aired February 2024: There are two ways to mess up retirement: run out of money or die with regret. Oftentimes, people in the retirement space only focus on the running out of money part. In an effort to help you live an even better retirement, today’s retirement headline discusses the regret part. Join me to learn five expenses that retirees wish they had spent more money on so that you can learn from their mistakes. Stick around to hear the answer to our listener question: Is there one person who can help develop a comprehensive retirement plan? Or do you need to have an investment advisor, a financial advisor, a tax advisor, and an estate planning attorney? Find out the answer by pressing play. For more information, visit the show notes at https://retirementstartstodayradio.com/5-expenses-retirees-wish-they-spent-more-money-on-rebroadcast

Originally aired March 2024: There are many ways that could threaten your financial security in retirement. Knowing the common issues can ensure that you don’t fall into the traps. Today’s financial headline comes from Yahoo Finance and is called 8 Ways Baby Boomers Become Poor in Retirement. Listen in to learn what they are so that you don’t drive yourself into the poorhouse. For more information, visit the show notes at https://retirementstartstodayradio.com/8-ways-to-become-poor-in-retirement-rebroadcast

Originally aired April 2024: It may be easy to define success in your working career, but defining success in retirement can be more difficult. What does success look like in retirement? What will you do daily or weekly to get the most out of your retirement? In this episode of Retirement Starts Today, we’ll explore a TEDx talk about the 4 phases of retirement that many (but not all) experience. Click play to hear how you can squeeze the most juice out of your retirement. For more information, visit the show notes at https://retirementstartstodayradio.com/the-4-phases-of-retirement-rebroadcast

Originally aired February 2024: You’ve heard of the 4% rule, and if you’ve listened to this podcast before, you’ve heard of Guyton’s guardrails strategy. But have you ever heard of using them together? Today’s retirement headline explores this idea. Overall, the article highlights the importance of considering sequence-of-returns risk in retirement planning and adopting flexible strategies, such as guardrails, to ensure financial security throughout retirement. Listen in to learn more about this combination of strategies as well as my opinion on the matter. Then stick around for the listener question segment where Bret and I answer the question: Do I need a will if I want to split my assets evenly between my two children? Outline of This Episode (02:11) Sequence of returns risk is the greatest risk to your retirement (14:49) Should I have a will to split my assets evenly between my kids? For more information, visit the show notes at https://retirementstartstodayradio.com/using-guardrails-for-the-4-rule-rebroadcast Connect with Benjamin Brandt http://retirementstartstodayradio.com https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletter Pre-order Benjamin's book by January 7, 2025: Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement Subscribe to Retirement Starts Today on Apple Podcasts, Spotify, Pocket Casts, TuneIn, Podbean, Player FM, or iHeart

Originally aired June 2024: The 4% rule is the “golden rule” of retirement planning. Everyone is familiar with it and it’s easy to work out for some quick, back-of-the-napkin math. Since it is so easy to calculate and implement, many use it as their retirement withdrawal rule. However, this approach may be overly conservative. While using a significantly higher withdrawal rate may go too far, the 4% rule may be too cautious. Listen in to hear the limitations of sticking with this overly simplistic rule of thumb. Outline of This Episode The pitfalls of the 4% rule Oftentimes, people fail to take into account other income sources when calculating the 4% rule. Social Security and pensions may provide a base income floor which means you could use a higher withdrawal rate from your portfolio. My biggest problem with the rigid 4% rule is that it isn’t flexible enough. The 4% rule doesn’t allow for spending flexibility and ignores spending adjustments that could be made on actual needs and circumstances. Another reason to avoid this stringent rule is that it doesn’t fully evaluate outcomes. The probability of success should be viewed as a spectrum. This approach will help measure the total amount of the goal achieved each year providing a more nuanced understanding of retirement readiness. What to do instead of relying on the 4% rule Incorporating more realistic metrics, such as goal completion and spending flexibility can lead to higher optimal spending levels. Based on this updated perspective, a 5% withdrawal rate may be more appropriate for the average retiree over a 30-year retirement period. However, the ideal rate depends on various factors, including the retiree’s specific circumstances and goals. Recent research introduces guided spending rates, where the withdrawal rate adjusts based on an individual’s flexibility and retirement duration, ranging from 10 to 40 years. Increasing the withdrawal rate from 4% to 5% may seem modest, but it represents a 25% increase in potential income, offering retirees more discretionary funds earlier in retirement when they are more active. Finding the right withdrawal rate is about balancing safety and practicality. A more dynamic approach that reflects individual circumstances and the ability to adjust spending is essential for effective retirement planning. In conclusion The 4% rule is a great rule of thumb based on a worst-case scenario, however, it isn’t comprehensive enough to create a fully-fledged retirement plan. Your retirement income plan needs to be adjusted based on your spending level, market performance, and inflation. To simply set your income source one day at the beginning of retirement and never look back is a foolhardy endeavor. There is no way that you could accurately plan the next 30 years of your life. Flexibility is key for planning your spending in retirement. Resource Mentioned Think Advisor article Connect with Benjamin Brandt http://retirementstartstodayradio.com https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletter Pre-order Benjamin's book by January 7, 2025: Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement Subscribe to Retirement Starts Today on Apple Podcasts, Spotify, Pocket Casts, TuneIn, Podbean, Player FM, or iHeart

You’ve been accumulating your savings your entire life, but when the time comes to draw down your investments, there are new risks. In this episode, we’ll discuss four risks that come with the decumulation phase of retirement. Press play to learn how to avoid these risks in retirement. Are you looking for a new advisor? One of our listeners is looking for a checklist to help him hire a retirement advisor. While answering that question I went ahead and made my advisor checklist available to all of you to download here. Outline of This Episode [1:47] Understand effective strategies for the decumulation phase [11:20] Do I have a checklist to use to hire a retirement advisor? Resources Mentioned The Retirement Podcast NetworkQuestions to ask a retirement advisor Connect with Benjamin Brandt http://retirementstartstodayradio.com https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletter Pre-order Benjamin's book by January 7th: Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement Subscribe to Retirement Starts Today on Apple Podcasts, Spotify, Pocket Casts, TuneIn, Podbean, Player FM, or iHeart

Ready to learn how to make a lasting and meaningful legacy for your loved ones? I had an in-depth conversation with Myra Salzer from the Wealth Conservancy. Myra brings a unique perspective as a financial advisor who specializes in helping clients navigate life after inheriting significant wealth. We explore not just the financial implications but the deeply personal challenges that can come with inheriting a fortune. Myra shows us how inheritors are similar to retirees in that both are financially independent, yet they differ significantly in their experiences. Unlike retirees who have worked, saved, and planned, many inheritors have never experienced earning and managing money themselves. This usually leads to a lack of control over their finances, emotional challenges, and pretty complex social relationships. We also get into the importance of transparency and avoiding surprises when planning an inheritance. Myra shares invaluable advice on how wealthholders can communicate with beneficiaries to build trust and strengthen relationships. For those of us planning to leave a financial legacy, this conversation is a must-listen to ensure that our wealth becomes a true blessing for future generations. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkBook: Die with Zero Connect with Myra Salzer Myra’s Website - The Wealth ConservancyMyra’s YouTube ChannelThe Inheritor’s Sherpa Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Pre-order Benjamin's book by January 7th: Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement Subscribe to Retirement Starts Today on Apple Podcasts, Spotify, Pocket Casts, TuneIn, Podbean, Player FM, or iHeart

In this episode, we step away from our usual financial discussions to share personal stories from our military service. Why? To give listeners a glimpse of who we are beyond our roles as financial advisors—so we opened up about how our time in the service shaped our lives. Bret shares his experience working in logistics and on the flight line in the Air Force, while I discuss my years as a combat engineer in the Army National Guard. We both reflect on how those experiences influenced our paths and continue to impact our work today. Bret talks about his five years of active duty and four years in the reserves, highlighting memorable assignments from Korea, Guam, and Germany, and sharing humorous tales about managing logistics and hazardous materials. I share stories of my time in Iraq, from conducting mine detection patrols to the lessons learned during long days in a tent. Our service stories illustrate how those years instilled lessons that we now apply to our roles as financial planners. We close the episode with some actual advice on how to give financial gifts to loved ones in a tax-smart way. This special Veterans Day episode honors the holiday by sharing how our military experiences have shaped us and reminding listeners of the lasting impact service can have. Outline of This Episode Resource Mentioned The Retirement Podcast Network Connect with Benjamin Brandt http://retirementstartstodayradio.com https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletter Pre-order Benjamin's book by January 7th: Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement Subscribe to Retirement Starts Today on Apple Podcasts, Spotify, Pocket Casts, TuneIn, Podbean, Player FM, or iHeart

Investing in health can lead to a more vibrant, enjoyable retirement. In this episode, I share the personal health investments I've made, like sleep tracking and working with a health coach, each designed to enhance well-being and longevity. Prioritizing health alongside wealth allows us to fully embrace retirement. I detail four key health tools, each with its own costs and benefits. From the Whoop Strap for monitoring sleep quality to MyFitnessPal for tracking nutrition, these tools help create a healthier lifestyle. My biggest investment was a full-body MRI, providing peace of mind and preventive insights—sometimes, the best financial choice is a health choice. To finish, Brett and I answer a listener's question on Roth conversions, covering the best timing to optimize tax efficiency and avoid penalties. This episode offers practical advice for a health-focused, financially savvy retirement. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkWhoop StrapMyFitnessPal PremiumPrenuvoPeter Diamandis and Fountain Life Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Are you feeling rattled by Required Minimum Distributions (RMDs)? We’re here to help. Today we get deep into managing RMDs as we explore an article by Pam Krueger from Kiplinger’s. I outline the complexities of RMDs, share strategies to minimize tax impacts, and talk about how to craft a "perfect RMD" strategy. Plus, I’ll dig into why so many retirement podcasters, myself included, have no plans to retire themselves. We kick things off by understanding the basics of RMDs, including when and how retirees must start withdrawing funds from tax-deferred accounts like IRAs and 401(k)s. I share exactly how the timing of RMDs, starting at age 73 (or potentially later under new laws), can have huge tax implications. I also detail strategies to minimize taxes through Qualified Charitable Distributions (QCDs) and preemptive withdrawals. And of course, co-host Bret Mulvaney and I respond to a listener's intriguing question: why don’t retirement podcasters retire? Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkKiplinger’s article by Pam Kruger: “Rattled by RMDs? Look No Further.”Retirement Starts Todayretirementstartstoday.com/taxSecure 2.0 Act details Connect with Pam Krueger https://www.kiplinger.com/author/pam-krueger Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Are you sure you're making the right call when deciding between Roth and traditional retirement accounts? A recent article on the Michael Kitsis blog started a debate into why, during your peak earning years, contributing to traditional pre-tax accounts might actually make more sense—even if tax rates rise in the future. I’m going to break down why high-income earners can often benefit more from deferring taxes now and paying them later in retirement when they have more control over their income. I’ll explain how using tax deductions at your highest earning years and withdrawing funds at lower tax rates in retirement can save you a significant amount in taxes over time. It’s all about maximizing your flexibility and finding opportunities to lower your tax burden down the road. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkWhy Pre-Tax Contributions Are Better Than Roth in Peak Earning Years, Even If Tax Rates Increaseretirementstartstoday.com/taxBen Henry-Moreland’s articles Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

What could happen to our taxes if the 2017 Tax Cuts and Jobs Act (TCJA) expires in 2025? This week, we explore a Wall Street Journal article analyzing the TCJA’s potential expiration and its varied impacts across the U.S. from coast to coast. These tax cuts, enacted under President Trump, included reductions across multiple income brackets, increased standard deductions, and expanded child tax credits. However, when they’re set to expire, the shift could mean substantial tax hikes for many households. The discussion centers on the unique impact of these changes in different regions, showing how factors like income levels and state taxes could influence the extent of the increase. Outline of This Episode Resources & People Mentioned The Retirement Podcast NetworkWhere Taxes Would Rise the Most if Trump’s Tax Cuts Expireretirementstartstoday.com/tax Connect with Benjamin Brandt www.retirementstartstoday.com/start http://retirementstartstodayradio.com/ https://twitter.com/retiremeasaphttps://retirementstartstodayradio.com/newsletterwww.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify