The surprising mistake many retired people make

Marian is retired and enjoying the life she worked so hard to build. But as she watches her friends age and lose their independence, she can't stop wondering what her own version of that might look like — or how to pay for it.

Michelle and Marian talk through her retirement "buckets," explore the possibilities of long term care, and whether she’s really prepared for what lies ahead.

Want Michelle to answer your money question? Email dollarsandsense@washpost.com for a chance to be on the show.

00:00 Welcome to Dollars & Sense with Michelle Singletary
02:08 Meet Marian
03:31 Losing Her Husband and Estate Planning
04:56 Selling the Business During the Pandemic
06:20 Inheriting an IRA and Explaining RMDs
07:52 Social Security and Consolidating Investments
12:25 Breaking Down Marian's Current Financial Plan
15:35 The Bucket Approach
17:48 Long-Term Growth and Coverage
19:09 Grieving the Business You Built
21:13 Aging Without Kids: Who Will Look After You?
27:08 The Chapter In Between
28:12 Staying Put vs. Pivoting: Six Steps to Smart Decisions
35:15 Giving Yourself Permission to Spend
38:28 Final Thoughts: Why an Objective Third Party Matters
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