Retirement Starts Today

The 2025 Milliman Long-Term Care Index put a number on long-term care: $135,000, the lump-sum amount an average 65-year-old would need to set aside today to cover the expected lifetime cost of long-term care.
But there are some details you need to know that make up that number. About half of those who need paid long-term care only do so for less than a year (averaging $30,000 in total cost). The other half need care for more than 5 years at an average of $665,000. $135,000 is just the average.
We will also take a question with multiple millions wanting to know if he should buy long-term care insurance or self-fund?
Resource: 
Article by Christopher Giese, Annie Gunnlaugsson, Evan Pollock, and Kevin Brown: 2025 Milliman Long-Term Care Index
 
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Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement
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A Corebridge Financial's decumulation study found 70% of American retirees say it's "very important" that their nest egg doesn't shrink in retirement. Another result found 38% say they've spent less than they wanted to-  but not because the money isn't there. They spent less specifically to keep the balance from going down.
We go over more results from the study and what they mean in today's episode.
In our Listener Question segment, a married person has two pensions. While he's alive, the guaranteed income covers everything. If he dies first, his wife loses half of it. So how do you account for that WITHOUT drastically underspending your portfolio? 
Finally, we wrap up the show with our Retire To Something segment.
 
Resources:
Article by Vawn Himmelsbach in Moneywise: 'It's not the climb up. It's the way down': 38% of retirees have trouble spending their money 
Read And Feed program: https://readandfeed.org
 
Connect with Benjamin Brandt:
Subscribe to the This Week in Retirement: http://thisweekinretirement.com
Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
Work with Benjamin: https://retirementstartstoday.com/start
Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement
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A rule changed on January first that takes the tax deduction away from catch-up contributions for a lot of people who are still working. We'll run through all the 2026 numbers and talk about whether it's still worth doing.
In our Listener Question segment, a fellow in Connecticut is worried that the low-income window he's been counting on for Roth conversions may never show up, because his wife is a high earner four years younger than he is. He's come up with a clever workaround.
And to close out the show we hear from a retired HR Manager. After building a successful career, he found a meaningful way to give back through Reading Partners, serving as a remote reading tutor for students who need extra support.
 
Resources:
Article by Amy Arnott in MorningStar: Should Higher Earners Still Make 401(k) Catch‑Up Contributions?  
Reading Partners: https://readingpartners.org
 
Connect with Benjamin Brandt:
Subscribe to the This Week in Retirement: http://thisweekinretirement.com
Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
Work with Benjamin: https://retirementstartstoday.com/start
Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement
Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart

Chris Heye makes the case in a Journal of Financial Planning article that the two retirement risks we obsess over might not be the two most likely to derail us. There are four risks in play, and the two nobody models are the ones quietly doing the most damage:
Longevity Risk
Market Risk
Health Risk
Decision Risk
I go into depth on those last two.
In our Listener Question, a 69-year-old retired engineer and do-it-yourselfer asks about setting up my plan for his wife who's just not into dollars and cents.
And in our Retire To Something segment: Debbie shares her "One Year Sabbatical" — and how she gives herself permission to figure out her purpose along the way.
Resource: 
Article by Chris Heye, Ph.D. in the Journal of Financial Planning: Beyond Sequence of Returns: The Four Risks to Retirement Security

 
 
Connect with Benjamin Brandt:
Subscribe to the This Week in Retirement: http://thisweekinretirement.com
Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
Work with Benjamin: https://retirementstartstoday.com/start
Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement
Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart

Inflation again? Christine Benz over at Morningstar has three questions that tell you exactly how exposed you are - and how much retirees worry about inflation.
Then, a listener question from someone one year into retirement who says their pension check feels like it just shrank ten percent - and what they might do to remedy that. 
And in our Retire To Something segment, Linda from Ontario, Canada, wanted a job at a cheese shop that wasn't hiring — and she applied anyway.
Resources:
Morningstar article by Christine Benz: How Much Should Retirees Worry About Inflation?
Christine Benz book: How to Retire: 20 lessons for a happy, successful, and wealthy retirement
 
Connect with Benjamin Brandt:
Subscribe to the This Week in Retirement: http://thisweekinretirement.com
Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
Work with Benjamin: https://retirementstartstoday.com/start
Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement
Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart