Retirement Answer Man

Peter Lazaroff, Chief Investment Officer of PlanCorp and author of The Perfect Portfolio, joins Roger to explore what makes a portfolio “perfect.” The answer isn’t a mathematically optimized portfolio—it’s one that serves your life. They discuss how to align investments with your goals and purpose, manage risk, evaluate stocks and bonds, and create a simple investment process you can actually stick with.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PODCAST
(00:00) Roger welcomes Peter Lazaroff to discuss The Perfect Portfolio, shares what’s happening inside the Rock Retirement Club, and explores why the right portfolio is the one that serves your life. 
INTERVIEW WITH PETER LAZAROFF
(2:58) Roger introduces Peter Lazaroff, author of The Perfect Portfolio, and they discuss what makes a portfolio “perfect,” why there is no one-size-fits-all approach, and how your goals, preferences, risk capacity, and purpose should shape your investment strategy. 
(12:12) Peter explains why the purpose of your money should drive your investment strategy and how to think about risk capacity, time horizons, and different goals.
(20:00) Roger and Peter begin filling in the pieces of the asset allocation, discussing indexing, factor investing, and how to approach the different components of a portfolio. 
(40:32) Peter shares practical steps for implementing an investment strategy, including creating an investment policy, automating decisions, and connecting each investment to a specific purpose.
LISTENER QUESTIONS
(47:33) Dan: How can he find his complete Social Security earnings history?
(48:48) Maggie: Are future Social Security benefit estimates adjusted for inflation and cost-of-living adjustments?
(51:09) Jay: When should he file Form SSA-44 if he expects an IRMAA surcharge from a one-time income event?
(53:05) Renee: How should an ultra-short-term bond fund fit into a five-year retirement income floor?
SMART SPRINT
(1:00:14) Look at your entire portfolio and connect each investment to the goal it is meant to serve.
ON THE BOOKSHELF
(1:01:12) Nicole recommends The Gales of November: The Untold Story of the Edmund Fitzgerald by John U. Bacon, and Roger shares his thoughts on Animal Farm by George Orwell.

REFERENCES
The Perfect Portfolio by Peter Lazaroff
Social Security Administration
Rock Retirement with Roger Whitney — YouTube channel
Submit a Question for Roger
Rock Retirement Club
The Gales of November: The Untold Story of the Edmund Fitzgerald by John U. Bacon
Animal Farm by George Orwell

Roger Whitney closes out his five-week Social Security series with a practical framework for married couples deciding when to claim. He explains how to coordinate benefits, avoid common mistakes, and make a decision that fits the household rather than relying on a single calculator or searching for a perfect answer.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PODCAST 
(00:00) Roger Whitney closes out his five-week Social Security series with a guide to building a claiming strategy for married couples. He shares a practical framework for coordinating benefits, avoiding common mistakes, and making a decision that fits the household. 
PRACTICAL PLANNING
(06:54) Roger shares a framework for coordinating benefits, weighing household priorities, and testing claiming strategies against a retirement plan of record. 
LISTENER QUESTIONS
(36:55) Dominic: Do cost-of-living adjustments apply before claiming? 
(39:17) Joe: Should he wait until age 70 to claim while his wife claims at 62? 
(41:31) Jason: Should the opportunity cost of delaying be compared with the potential return of an aggressive investment portfolio? 
(45:05) Ann: What if both spouses have similar, moderate-to-high benefits?
(46:20) Stacy: Is it reasonable for a lower-earning husband to claim at 62 while his higher-earning wife waits until 70? 
SMART SPRINT
(49:08) Put time for your Social Security decision on the calendar. 
ON THE BOOKSHELF
(50:38) Roger and Nichole share books they’re reading, and Roger previews next week’s conversation with Peter Lazaroff about The Perfect Portfolio.
REFERENCES
Social Security Administration
Live Year-End Planning Session 
Sign up for the Noodle! 
Rock Retirement with Roger Whitney — YouTube channel
Submit a Question for Roger
ON THE BOOKSHELF
Remarkably Bright Creatures by Shelby Van Pelt 
In a Sunburned Country by Bill Bryson

Roger Whitney explains how solo filers can make a confident Social Security claiming decision without getting overwhelmed by complexity. He covers the biggest mistakes to avoid, introduces a practical decision-making framework, answers listener questions about survivor benefits, and closes with a simple action step for deciding when to revisit the issue.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PODCAST
(00:00) Intro: Why Social Security decisions get complicated
PRACTICAL PLANNING SEGMENT
(02:55) Social Security claiming framework for solo filers: avoiding common mistakes, knowing when to begin, using the OODA framework, evaluating your plan and personal circumstances, checking survivor or divorced-spouse benefits, identifying your priorities, and testing your options against your retirement plan. 
LISTENER QUESTIONS
(36:24) Karen asks how to switch from her own Social Security benefit to survivor benefits later.
(39:06) Julie asks whether she should claim survivor benefits first while letting her own benefit grow.
(40:54) Drew asks how retiring at 60 and claiming at 64 would affect his Social Security benefits.
SMART SPRINT
(46:50) If Social Security is still a green banana, use your full retirement age in your plan and set a date to revisit it; if it’s ripe, follow the protocol and make your claiming decision. 
ON THE BOOKSHELF
(47:30) Roger recommends The Violin Maker, while Natalia gives Wild Dark Shore five out of five for its emotional depth and thrilling twists. 
REFERENCES
Social Security Administration
Live Year-End Planning Session 
Sign up for the Noodle! 
The Violin Maker: Finding a Centuries-Old Tradition in a Brooklyn Workshop by John Marchese 
Wild Dark Shore by Charlotte McConaghy
Rock Retirement with Roger Whitney — YouTube channel
Submit a Question for Roger
YouTube video: When Should a Single Person Claim Social Security?

Roger Whitney explains six levers that can influence Social Security benefits: reviewing your earnings record, choosing when to claim, managing retirement income, reconsidering an early claim, considering where you live, and coordinating spousal or survivor benefits. The episode emphasizes that the best claiming strategy depends on each person’s priorities, resources, and desired outcome.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PODCAST
(00:00) Roger introduces the Social Security series and explains that this episode focuses on the factors individuals can control.
PRACTICAL PLANNING SEGMENT
(02:52) Roger walks through the six Social Security levers, including earnings history, claiming age, retirement income, application withdrawal, state taxation, and spousal coordination.
LISTENER QUESTIONS
(31:08) Planning for Social Security uncertainty: Roger responds to Turner, who asks how to model future benefits given uncertainty about possible changes to Social Security.
(36:25) Coordinating benefits for spouses with different earnings: Roger examines whether a higher earner should delay benefits while the lower earner claims earlier.
(45:27) Claiming benefits when retirement assets are growing: Roger discusses a listener’s decision to claim Social Security before age 70 because withdrawals from pre-tax accounts would otherwise be needed and how a spouse’s early claiming decision could affect future spousal and survivor benefits.
SMART SPRINT
(49:14) Review your retirement plan, identify the Social Security levers you control, and compare alternative claiming strategies with a “what-if” scenario.
CLOSING THOUGHTS
(50:15) Roger shares a personal story about his daughter and a listener’s positive experience with her work.
REFERENCES
Social Security Administration — Social Security Statement and earnings record
Social Security Administration — Social Security Benefits Calculators
Dinkytown — Social Security Benefits Taxation Calculator
AARP — State Taxation Of Social Security Benefits
Rock Retirement with Roger Whitney — YouTube channel
Submit a Question for Roger
Sign up for The Noodle

How is your Social Security benefit actually calculated? In this episode, Roger explains how you qualify for retirement benefits, how your earnings history determines your benefit, and why the age you claim matters. Understanding these basics will help you recognize the areas where you have agency as you build your Social Security claiming strategy.

Roger also answers listener questions about survivor benefits, estimating taxes in retirement, and coordinating spousal benefits.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
[00:00] Understanding the context behind your Social Security benefit
PRACTICAL PLANNING: SOCIAL SECURITY PLAYBOOK
[01:33] How you qualify for Social Security and how benefits are calculated
[11:08] Reviewing your Social Security statement and understanding cost-of-living adjustments
[15:30] Understanding your Social Security claiming age options 
LISTENER QUESTIONS
[22:11] What Social Security resources are available for widows and widowers? 
[24:18] How to categorize income and expenses for tax planning
[30:43] Can my husband switch from his own benefit to a spousal benefit?
SMART SPRINT
[33:39] Review your Social Security statement
CLOSING THOUGHTS
[34:40] Reconsidering the words “should,” “must,” and “need to”

REFERENCES
Social Security Administration
Open Social Security
Maximize My Social Security
Dinkytown 1040 Tax Calculator
Submit a Question for Roger
Sign up for The Noodle
Rock Retirement with Roger Whitney on YouTube: How to Read Your Social Security Statement