Good morning, Retirement Starts Today Community! Welcome to Every Day is Saturday, the newsletter reminding us that in retirement, every day is Saturday (including Thursday mornings).

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"The Roth IRA Mistake That Could Cost You $90,000!"

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Episode Breakdown:

0:00: Welcome and introduction
2:07: Retirement Headlines: The new Vanguard study
15:41: Listener questions

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Retirement Headline

Vanguard: The Emotional and Time Value of Advice
Spotted via LinkedIn from friend-of-the-show and behavioral-finance author Dan Crosby.

Most folks know Vanguard’s classic Advisor Alpha idea (often summarized as “~3%/yr” potential value from rebalancing, behavioral coaching, and tax-smart withdrawals). This new research looks beyond portfolios to quantify stress reduction, peace of mind, and time saved.

The study (June 2025)

12,443 Vanguard investors surveyed
— 7,746 advised clients (62%) vs 4,697 self-directed (38%)
Advised clients skewed older & wealthier (not causal—likely complexity driving advice-seeking)
— 88% of advised were 55+ (vs 38% self-directed)
— 45% of advised had $1M+ (vs 17% self-directed)

What advice changes (beyond returns)

Stress: Only 14% of advised investors reported high financial stress (vs 27% self-directed).
Peace of mind: 86% of advised say advice gives them more peace of mind.
Time saved: 76% report advice saves time—median ~2 hours/week (~100 hours/year).
Workplace impact: Financially stressed workers lose ~3.8 hrs/week; among those with advisors, about 2 hrs/week of productivity are regained (valued roughly at $2,200–$5,850/year depending on pay).

How people use that “found time”

Top answers: Leisure (49%), Family (35%), Exercise (29%).
…which sure sounds like a preview of how many of you want to spend retirement anyway.

A simple thought experiment

If a full-service relationship averaged $15,000/year and saved ~100 hours, that’s about $150 per hour of “time arbitrage.” Many households in the top ~10% by income (±$300k) and/or assets ($1M+) might rationalize advice on time + peace-of-mind alone—independent of portfolio work. Your mileage will vary, and you should reserve the right to “insource” again if value ever falls below the fee.

Bottom line: For retirees (or soon-to-be), the non-financial benefits of advice—less stress, more time, better focus—often align perfectly with the life you’re trying to design.

Listener Question: Can I “batch” reimburse Medicare premiums from my HSA?

Gary asks: I’ve heard I can save medical receipts and reimburse later from my HSA. Can I let my HSA grow for 10 years, then take one big withdrawal to cover a decade of Medicare premiums all at once?

Short answer: Almost.
You can’t prepay future Medicare premiums and reimburse now. But you can:

Pay premiums as they come due (cash flow), save the records, and
Reimburse yourself later in one lump sum (even years later) from the HSA.

HSA + Medicare rules to remember

Eligible from HSA: Medicare Part B, Part D, and Medicare Advantage premiums.
Not eligible: Medigap/Medicare Supplement (a.k.a. “Medigap”) premiums.
Receipts rule: HSA withdrawals must match expenses already incurred.
Keep great records (statements, receipts, bank proof).
Post-65 flexibility: HSAs also cover deductibles, copays/coinsurance, dental, vision, hearing, and some LTC premiums (subject to IRS limits).
If you truly run out of medical uses: You can take non-medical withdrawals after 65—taxed as ordinary income (no penalty).

Pro move: Many retirees pay medical costs out of pocket now, let the HSA compound, and then reimburse strategically later (e.g., in a higher-tax year) for tax-free cash flow. See IRS Pub. 969 for the fine print.

Resources Mentioned

Click here to view my YouTube channel, Even Better Retirement
Click here to order my book, Retirement Starts Today: Your non-financial guide to an even better retirement
Click here to read the new Vanguard study

I need your help...

I will be starting a new segment on my podcast: Retire TO something, not FROM something.

The segment will be brief at the end of the show and will share a fun retirement idea, along with links to learn more. Volunteer work and part-time “fun” jobs will be a common theme.

Click here to share your ideas!

That's it for our four hundred and first installment of "Every Day is Saturday." As always, I read (and usually reply to) every listener email. Got a question? Hit reply—you just might hear your name on the show.

Enjoy your “Saturday,”
Benjamin Brandt

Benjamin Brandt

Every Day is Saturday: October 16th, 2025