SHOW NOTES

In this episode, we tackle the often-overlooked topic of taxes in retirement with expert Erin Coe, an enrolled agent. Discover how to avoid unexpected penalties and interest on your IRA distributions and Roth conversions. We also share an inspiring retirement success story from Lottie, reminding us of the importance of clarity and simplicity in planning. Tune in for practical advice that will help you rock your retirement!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today Erin Coe joins Roger to talk through penalties and interest during retirement, what those things are.

ROCKIN’ RETIREMENT IN THE WILD

• (01:30) Lottie says she got caught up in ideas about the perfect retirement and it was getting in her way.

PRACTICAL PLANNING SEGMENT WITH ERIN COE

• (03:31) Today we're going to talk about penalties and interest when it comes to taxes.
• (04:52) Erin explains the difference between a tax penalty and interest.
• (11:14) Roger asked Erin how to calculate an estimated quarterly tax if not doing safe harbor?
• (13:55) Erin shares her tips on tax returns.
• (16:08) Being prepared is always better than being taken by surprise when it comes to taxes.

LISTENER QUESTIONS

• (16:40) Roger makes a correction on a past statement.
• (17:25) Jeff asks a question about the pie-cake explainer video.
• (20:30) Dave asks a question about helping his elderly mother with her finances.
• (26:11) Robert asks about getting two mortgages near retirement.

SMART SPRINT

(32:15) Over the next seven days, download the 1040 form and review how it applies to your retirement income. Decide whether you’ll handle taxes through estimated payments, safe harbor payments, or automatic withholdings from distributions.

REFERENCES

• 
  Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man
• IRS.gov Forms
  
  

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💬 SHOW NOTES

In this episode, we focus on empowering you to navigate retirement with confidence. We break down the process of reading a Social Security statement, examining each section and its significance. Additionally, we tackle listener questions regarding retirement strategies, second mortgages, and Roth conversions. Join us for practical insights that will help you make informed decisions as you approach this new chapter in life.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today on the show we are going to walk through how to read a social security statement.
• (01:10) Roger talks about doing extensive blood work every year and the similarities between the protocol of blood tests and retirement planning.

PRACTICAL PLANNING SEGMENT

• (09:52) Sign up for the Noodle to watch a video of Roger walking through the Social Security statement.
• (10:30) Roger breaks down the Social Security statement section by section- go to SSA.gov to get a pdf version of your statement.
• (17:07) Roger reads through a few of the Important Things to Know bullet points on page two of the statement.

LISTENER QUESTIONS

• (21:21) Jeff asks if there is any difference in retirement strategy if he decides to delay retirement until age 70.
• (25:22) Mary says she is going through a divorce at age 63 and recently started listening to the podcast to educate herself on retirement and asks for advice for finding a retirement planner.
• (29:36) Julie says her husband is looking at sudden retirement at age 59 ½. She wants to know if there are any episodes or resources Roger can direct him to to get a great overview of retirement.
• (32:48) Joy has a question about ROTH conversions.

SMART SPRINT

• (34:18) In the next seven days, make sure you have your most recent Social Security statement.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man
• Social Security Administration

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💬 Show Notes

In this episode of the Retirement Answer Man, Roger Whitney sits down with Peter Lazaroff, Chief Investment Officer at Plancorp, for a thoughtful conversation on the power of simplicity in retirement planning. Together, they unpack the common traps of overcomplicating investments and the cognitive biases that often lead us astray. Peter also offers valuable insights into private equity and other complex investment strategies—highlighting when they might help, and when they might hurt. Don’t miss this episode if you're looking to build a retirement plan rooted in clarity, confidence, and peace of mind.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today Roger chats with Peter Lazaroff about bringing simplicity to retirement planning strategies.
• (02:44) We tend to overcomplicate everything when it comes to retirement planning.
• (04:09) Complexity makes us think something is better or more sophisticated.
• (05:35) “Anything one needs to market heavily is either an inferior product or an evil one.”- Nassim Taleb

ROCKIN’ RETIREMENT IN THE WILD

• (06:22) Todd shares reflections on why he travels in retirement.

INTERVIEW WITH PETER LAZAROFF

• (10:16) Think of your assets that you need to rock retirement in their own bucket, if you have excess- put it in its own bucket.
• (11:05) Complex investments are just active managers in a different wrapper.
• (11:45) Peter Lazaroff joins Roger to discuss retirement investing and private equity.
• (12:25) Peter discusses his books and announces that he has a new one coming out in 2026.
• (15:00) The core intent of retirement planning is to have core confidence that you can live the life you want now, but also when you're ninety.
• (15:51) Ultimately the goal in retirement planning is elegant simplicity.
• (20:00) Peter reflects on the business of investing.
• (23:02) Investing creates an illusion of control.
• (26:38) Peter discusses the benefit of simplicity and how it helps living heirs when it is time to settle an estate.
• (28:33) Roger chats about an executive order paving the way for private equity to become part of 401ks.
• (30:08) Peter talks about the steps of the probabilistic decision framework.
• (35:48) From 2020 to present, private equity has not added return over public equity.
• (38:30) If the yield is high and you can’t find the risk, it doesn’t mean it's not there.
• (42:08) Private investments are not inherently good or bad, but they are not necessary and can add complications.
• (42:50) Peter shares an example of complexity that he would be more welcome to.
• (47:25) If you don’t believe in traditional active management- you should be out on private investments.

SMART SPRINT

• (48:00) In the next seven days, choose one area—retirement planning, investments, or any aspect of life you want to improve. Before adding anything new, ask: What can I remove or simplify first?

REFERENCES

• Plancorp- Your Financial Life Advocate
• PeterLazaroff.com: Free Book

BOOKS

• Scarcity Brain- Michael Easter
• Antifragile: Things That Gain from Disorder- Nassim Nicholas Taleb
• Making Money Simple: The Complete Guide to Getting Your Financial House in Order and Keeping It That Way Forever- Peter Lazaroff

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