The Humans vs Retirement Podcast

In this inspiring and thought-provoking episode of Humans vs Retirement, I sit down with The Executive Book Coach, Helen Wilkie to explore why retirement may be the ideal moment to write the book you've always dreamed of. From memoirs to how-to guides, legacy to creativity, Helen shares practical insights and soulful encouragement for anyone curious about turning lived experience into lasting written impact. Whether you're scribbling down notes already or just entertaining the idea, this episode is for you. What You'll Learn Why retirement can be the most powerful time to write a book The difference between a book being your legacy vs holding your legacy How the writing process helps you rediscover purpose, identity, and structure The most common obstacles that stop people from starting and how to overcome them The importance of editing, time-blocking, and defining your “why” before writing How ghostwriting and book coaching work (and why it's not cheating) Key Topics Creativity in the second half of life How to write a book after retirement Purpose and identity beyond work Memoirs, business books, and other nonfiction options Fear, self-doubt, and imposter syndrome Writing as an experience, not a task Turning vague ideas into a finished manuscript Legacy, storytelling, and honouring your life Resources & Mentions Helen Wilkie's free gift: How to Write a Memoir PDF and 20-minute exploratory session Email Helen at: helen@theexecutivesbookcoach.com with subject line: “Memoir Guide” Helen's memoir: Rare Steak, Red Wine, Hot Tango Recommended reading: On Writing: A Memoir of the Craft by Stephen King Learn more about Helen: https://theexecutivesbookcoach.com Stay Connected Want more thought-provoking conversations like this one? Subscribe to Humans vs Retirement on Apple, Spotify, or wherever you get your podcasts Visit humansvsretirement.com for tools, downloads, and insights Share this episode with someone who needs to hear it, you might just save them (and their family) from future chaos. Download for free my whitepaper - The Skill of Spending Money in Retirement Connect with me on LinkedIn for more insights and updates. Subscribe to my weekly newsletter - The Retirement Fix Leave us a ⭐⭐⭐⭐⭐ review if this episode helped shift your perspective! It really helps spread the word.

In this eye-opening conversation, I sit down with Stuart Ritchie, chartered tax advisor, estate planning expert, and author of Who Will Get My Money When I Die, to explore one of the most emotional and misunderstood aspects of later-life financial planning: inheritance tax. This episode isn't about doom and gloom, it's about taking control. Whether you're planning for your own legacy, thinking about your children's future, or simply want to make sure the government doesn't get more than its fair share, this is a must-listen. What You'll Learn Why inheritance tax is about more than just money, it's about clarity, fairness, and family harmony The critical role of wills and why DIY ones often cause more harm than good What lasting power of attorney actually does and why it's vital even if you're married How to avoid common traps when it comes to gifting, trusts, and tax bills Why talking to your family before you die might be the greatest gift you give them Key Topics Wills and the rules of intestacy: what really happens if you don't plan The psychology of leaving a legacy: control, conflict, and clarity Power of Attorney: the two types and the risks of not setting one up Blended families, second marriages, and planning with complexity in mind Lifetime gifting and the 7-year rule explained Life assurance, pensions, and the new inheritance tax reforms The emotional and practical costs of poor estate planning Resources & Mentions Stuart Ritchie's book: Who Will Get My Money When I Die? – available on Amazon Stuart's firm: www.ritchiephillips.co.uk The Economist & Kaiser Family Foundation study on end-of-life priorities UK Government: Rules of Intestacy Reflection Exercise "What do I want to happen to my money, my possessions, and my responsibilities after I'm gone?" Take 15 minutes today to reflect on this question. If you were to pass away tomorrow: Do you have a valid will in place? Have you named executors and powers of attorney you trust? Have you had conversations with those closest to you about your wishes? Do you know the potential tax implications of your estate? Clarity now brings peace later, for you and everyone you love. Stay Connected Want more thought-provoking conversations like this one? Subscribe to Humans vs Retirement on Apple, Spotify, or wherever you get your podcasts Visit humansvsretirement.com for tools, downloads, and insights Share this episode with someone who needs to hear it—you might just save them (and their family) from future chaos. Download for free my whitepaper - The Skill of Spending Money in Retirement Connect with me on LinkedIn for more insights and updates. Subscribe to my weekly newsletter - The Retirement Fix Leave us a ⭐⭐⭐⭐⭐ review if this episode helped shift your perspective! It really helps spread the word.  

What really matters in retirement? After the spreadsheets are done, the portfolio's in place, and the paycheque has stopped, what's left? In this powerful and deeply human conversation, I sit down with Fritz Gilbert, author of Keys to a Successful Retirement and founder of The Retirement Manifesto, to explore the non-financial side of life after work. We dive into the real questions: How do you stay fulfilled? Where do you find purpose? And how do you avoid the emotional pitfalls so many retirees never see coming? Fritz shares his “10 Commandments of Retirement”, a personal code he created before stepping away from corporate life and how each one has guided his journey. From “Make No Obligations” to “Keep Eternity in Mind,” these principles offer a practical, heartfelt framework for anyone who wants to retire with intention, freedom, and joy. What You'll Learn Why mindset matters more than money in retirement How to create your own guiding principles for life after work The 90/10 Rule: Why most people focus on the wrong things before retiring How Fritz skipped the “retirement depression” so many experience Why giving yourself space and grace in your first year can change everything How to find (or rediscover) your purpose in the second half of life The surprising power of legacy, contribution, and shared purpose Key Topics Discussed Fritz's “10 Commandments of Retirement” and how they've held up over time The emotional challenges many retirees face and how to prepare for them What it means to shift from saving to spending, from doing to being The founding story of Freedom for Fido and how it brought deeper meaning to retirement The role of mindset, curiosity, and experimentation in building a rich post-career life Why “retirement planning” must include much more than your finances How to craft your own post-career mission, values, and personal compass Resources & Mentions The Retirement Manifesto Blog Keys to a Successful Retirement by Fritz Gilbert – Buy on Amazon Fritz's article: The 10 Commandments of Retirement Freedom for Fido Charity Your Next Step Want to retire well? Start by writing your own commandments. Define your values, your purpose, and what a great life looks like before you leave work. Let's Keep the Conversation Going Follow & connect with Fritz: LinkedIn Subscribe to Humans vs Retirement on Apple, Spotify, or wherever you get your podcasts Connect with Dan: LinkedIn Leave us a ⭐⭐⭐⭐⭐ review if this episode helped shift your perspective!

In this uplifting and thought-provoking episode, I sit down with Patrice Jenkins, author of What Will I Do All Day?, to explore the real heart of retirement beyond financial plans. Together, we dig into why retirement is not simply about staying busy, but about rediscovering meaning, purpose, identity, and joy. Patrice shares insights from her decades of counseling and interviews with retirees, offering a compassionate, practical guide to navigating the messy, magical transition into post-career life. What You Will Learn Why financial readiness alone doesn't guarantee a happy retirement. The emotional stages of transitioning into retirement and why patience is crucial. How to rediscover passions, build social portfolios, and embrace “space.” Why successful retirements often include a form of meaningful "work." How to avoid the trap of being "busy but unfulfilled." Simple frameworks to plan your next two years, not just your next thirty. Key Topics Discussed The difference between hiding out and holding out when nearing retirement. The importance of purpose, agency, and intention in retirement planning. Why internal validation matters more than external praise after leaving work. How relationships - spouses, adult children, friendships - evolve post-retirement. Embracing play, experimentation, and curiosity in later life. Strategies to transition through the inevitable “messy middle” of change. How to think differently about work as part of a fulfilling retirement. Resources Mentioned What Will I Do All Day? by Patrice Jenkins Patrice's Website — patricejenkins.com Richard Leider's The Power of Purpose  Book Mention: Die With Zero by Bill Perkins Memorable Quotes "Retirement is not about keeping busy. It's about living meaningfully and purposefully every day." — Patrice Jenkins "Work gave you structure, identity, and purpose — but your next chapter can too. It just takes intention." — Patrice Jenkins "Perhaps work kept you so busy that you forgot what you used to love. It's time to remember." — Patrice Jenkins "You don't have to figure out your whole retirement — just the next two years." — Dan A Takeaway Exercise The 'What Lit You Up?' Reflection Grab a pen and a notebook. Reflect and jot down: What activities made you lose track of time when you were 10 years old? What hobbies or interests did you abandon during your working years? What would you do with a free afternoon if no one was watching? Circle one that sparks excitement and design a small experiment to try it out in the next two weeks! A Final Thought Retirement isn't the end of the story, it's the beginning of a new one. The key isn't to stay busy; it's to stay true. Stay curious. Stay purposeful. Whether you're months away from retirement or years in, there's always an opportunity to dream, to experiment, and to build a life you're excited to wake up to. Stay Connected If you enjoyed this episode, please: Subscribe to The Humans vs Retirement Podcast wherever you listen to podcasts Leave a rating and review, it really helps! Share this episode with someone who's thinking about (or struggling with) their retirement journey. Download for free my whitepaper - The Skill of Spending Money in Retirement Follow me on LinkedIn for more insights and updates. Subscribe to my weekly newsletter - The Retirement Fix

Summary In this powerful and insightful episode, I sit down with Dr. Riley Moynes, author, speaker, and creator of the viral TED Talk on "The Four Phases of Retirement," which has amassed nearly 5 million views. Together, we unpack why retirement is far more of a human problem than a financial one, and why so many retirees struggle despite having "enough" money. Riley shares the emotional, psychological, and personal transitions that retirees face and offers an actionable framework to help listeners navigate their post-work lives more meaningfully. What You Will Learn The Four Phases of Retirement and why most people will experience them. Why retirement is not just a financial challenge but a deeply human one. The common emotional and psychological struggles retirees face. How retirees can proactively prepare for the non-financial aspects of retirement. The importance of purpose, identity, relationships, and service to others in retirement. How to avoid becoming a "statistic" in retirement dissatisfaction. Key Topics Discussed Dr. Riley Moynes' personal career journey and how he developed the Four Phases of Retirement. Why traditional financial services fail to prepare people for the real challenges of retirement. A deep dive into each of the Four Phases: The Vacation Phase – The early, carefree, "holiday" phase of retirement. The Loss and Lost Phase – The period of disillusionment marked by loss of purpose, identity, relationships, and routine. The Trial and Error Phase – The experimental stage of trying new activities, facing failures, and re-finding purpose. The Reinvent and Rewire Phase – The fulfilling phase where retirees give back, often through service, and thrive with renewed purpose. The emotional impact of retirement and why depression, divorce, and dissatisfaction spike for many retirees. The predictable pattern of retirement struggles and why awareness is key. Why simple joys and purposeful service are at the heart of a successful retirement. Books and Resources Mentioned The Four Phases of Retirement: What to Expect When You're Retiring by Dr. Riley Moynes Dr. Riley Moynes' viral TED Talk — "The 4 Phases of Retirement" Mention of Fritz Gilbert's blog, The Retirement Manifesto Kübler-Ross Change Curve (Grief & Loss framework referenced in discussion) A Takeaway Exercise Your Unique Ability Reflection Dr. Moynes recommends this simple but powerful exercise: Write down the top 5 things you love to do and know you do really well. Reflect on 5 key wins, successes, or achievements in your life so far. Look for patterns and connections between the two lists. Ask yourself: Can I apply these skills, passions, or experiences to new areas in retirement? How can I use these to serve others and find fulfillment? This introspection can help you transition into the most meaningful phase of retirement. A Final Thought Retirement is not a finish line, it's a transition into one of the most complex and potentially fulfilling stages of life. But it requires intentionality, emotional awareness, and often hard inner work. As Dr. Moynes reminds us, it's not about endless vacations or financial spreadsheets; it's about redefining purpose, reconnecting with joy, and ultimately serving something bigger than yourself. Retirement is a human challenge, not a maths problem. The sooner you embrace that, the smoother and more fulfilling your transition will be. Humans vs Retirement The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement Subscribe on Apple Podcasts | Spotify | YouTube

Episode Summary In this inspiring and heartfelt episode, I sit down with David Marlow, veteran leader, coach, and author of The Ikigai Way to explore how the ancient Japanese concept of Ikigai can powerfully guide us into a more fulfilling and purposeful retirement. From personal stories of career transitions to uncovering identity after work, David shares how aligning our inner essence with what we do can transform our experience of aging, retirement, and meaning in life. What You'll Learn What Ikigai really means (beyond the Instagram-friendly Venn diagram) How to align your essence and purpose with daily life, before and after retirement The power of experimenting, curiosity, and continuous self-discovery How to reframe retirement from “ending” to “uncovering” Practical tools and reflections to help you discover your own Ikigai Key Topics Discussed David's winding journey from disc jockey to Marine to transformation leader, and how Ikigai was always there Redefining purpose outside of career or job titles The emotional transition into retirement and how to handle the "grief" of identity loss Why older adults are uniquely primed for deep reflection and discovering Ikigai The mental and physical health benefits of having a clear sense of purpose How to use Ikigai as both a lens and a mirror in your second half of life Shifting from rigid goals to aspirational living The importance of community, relationships, and intergenerational mentoring Books & Resources Mentioned The Ikigai Way by David Marlow – A modern guide to discovering your essence and purpose David's newsletter: IkiQuest on Substack – Daily reflections and community around Ikigai Falling Upward by Richard Rohr – Discussed in reference to life's two halves and spiritual maturity Harvard Study on Adult Development – Cited as supporting evidence for the power of purpose and connection Blue Zones research – Referenced regarding community, longevity, and purpose in Okinawan culture Memorable Quotes “Ikigai is expressing your essence in harmony with whatever you're doing—whether that's career, relationships, hobbies, or just life.” – David Marlow “You don't find your Ikigai—you uncover it.” “Ask yourself: What's your tennis ball? What makes you forget to eat?” “Retirement isn't about leaving something behind. It's about leaning into what's always been within you.” Takeaway Exercise Ask yourself two powerful questions: When was the last time you had a truly great day? What were you doing? Who were you with? What's one thing you do that makes you forget to eat? Use your answers to start mapping out the threads of your own Ikigai. Connect with David Marlow IkiQuest Newsletter on Substack davidmarlow.com David on LinkedIn The Ikigai Way  Final Thought Whether you're five years away from retirement or already navigating the transition, this episode reminds us that purpose doesn't end when work does. With small steps and deep reflection, you can uncover a life of fulfillment, alignment, and joy—your Ikigai. Humans vs Retirement The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement Subscribe on Apple Podcasts | Spotify | YouTube

Episode Summary Retirement isn't just a financial transition, it's a psychological and emotional one, too. In this episode of Humans vs. Retirement, I sit down with Lindsay Troxell, a coach and life planner who has been at the forefront of shifting the financial industry's focus toward a more human-first approach. Lindsay shares powerful insights on mindset, identity, and habits, and why most people unknowingly experience an identity crisis in retirement. Lindsay and I explore how to reshape your beliefs, redefine purpose, and build new habits for a fulfilling second half of life. If you've ever asked yourself: Who am I without my job title? How do I retire with meaning? or Why does retirement feel like a letdown?, this episode is for you. What You'll Learn in This Episode Why retirement isn't just about money—and why financial security alone won't make you happy. How habits and mindset shape your retirement experience (and how to rewire them). The common identity crisis retirees face—and how to navigate it with confidence. Why traditional financial planning treats retirement as a math problem, when it's actually a human challenge. How to develop purpose, fulfillment, and structure in retirement. The importance of coaching and why having a financial plan isn't enough. How Lindsay's business, Discretionary Inc., helps child-free entrepreneurs create a unique life plan that reflects their values and goals. Key Topics Discussed [00:02] – Introduction & Catching Up Lindsay's background in financial coaching and life planning. The shift from numbers-focused planning to a holistic, human-first approach. [00:10] – The Mindset Shift for Retirement Why people treat retirement as a math problem (and why that's wrong). The emotional journey of retirement—why so many people feel lost after stopping work. The three-dimensional approach to retirement: wealth, health, and identity. [00:25] – Identity & Purpose in Retirement The biggest identity crisis retirees face (losing structure, title, and purpose). Why your identity is more than your job title. The "retire with" framework: What are you bringing into retirement? [00:40] – Mindset, Habits & Breaking Old Patterns How beliefs shape our retirement experience. The role of growth mindset and beginner mindset in reinvention. The importance of failure and experimentation in building a fulfilling retirement. [00:55] – Retirement & Relationships: The Gray Divorce Trend How retirement impacts marriages and partnerships. The rising trend of gray divorce (and why couples struggle post-retirement). The three journeys: Your individual path, your partner's path, and your shared path. [01:10] – The Future of Retirement & Financial Planning Why coaching is the missing link in financial planning. How financial professionals need to adapt their services to serve clients better. Lindsay's business Discretionary Inc. and why child-free entrepreneurs need specialized financial and life planning. [01:25] – Final Takeaways Why the traditional retirement model is outdated and needs to evolve. Practical steps to redefine your mindset and habits for a more fulfilling life. Lindsay's best advice for people approaching retirement. Books & Resources Mentioned Books: The Psychology of Money – Morgan Housel Mindset: The New Psychology of Success – Carol S. Dweck Let Them – Mel Robbins Meditations – Marcus Aurelius Letters from a Stoic – Seneca The Bhagavad Gita – Hindu Philosophy on Purpose & Duty Research & Studies: Retirement & Depression: 40% increased risk of depression in retirees. Gray Divorce Trends: Divorce rates for 60+ have risen from 9% (1990) to 40% (recent years). Additional Resources: Morgan Housel's Blog on Behavioral Finance Carol Dweck's Research on Growth Mindset George Kinder's Life Planning Method Connect with Us Follow Lindsay Troxell: Website: www.ourcoachinginitiative.com/ LinkedIn: www.linkedin.com/in/lindsaytroxell/ Follow Dan & The Podcast: Website: www.humansvsretirement.com LinkedIn: www.linkedin.com/in/dan-haylett-retirement-coach/ Subscribe on Apple Podcasts | Spotify | YouTube

This is episode 75! And I'm thrilled to introduce my guest today. He is a true pioneer in the field of behavioural finance, Dr. Greg Davies. Greg is the Head of Behavioural Finance at Oxford Risk and has spent his career shaping how we understand investor psychology, financial decision-making, and the emotional complexities that come with managing money—especially in retirement. In this episode, we'll explore the behavioural traps that retirees often fall into, how to build financial resilience, and why understanding your own psychology is just as important as having a well-structured portfolio. Throughout our conversation, Greg and I explore the multifaceted aspects of retirement planning, emphasizing the importance of guaranteed income and its psychological benefits. We discuss how behavioural finance plays a crucial role in spending habits during retirement, the impact of inflation on purchasing power, and the distinction between risk and volatility in investment strategies. We also touch on future trends in retirement planning, particularly the potential need for and benefits of health insurance and a shift in focus from bequest to spending during retirement. Key Takeaways Greg Davis shares his journey from economics to behavioral finance. Behavioral finance combines psychology, economics, and finance. The importance of practical applications of behavioral science in finance. People often make poor financial decisions due to cognitive biases. Simplifying complex financial concepts is crucial for better decision-making. Emotional comfort plays a significant role in financial decisions. Retirement planning today is more complex than in previous generations. Technology can help simplify financial decision-making processes. Understanding personal values is essential for effective retirement planning. The removal of guaranteed income streams complicates retirement planning. Financial advisors often overlook the emotional aspects of retirement planning. Guaranteed income can alleviate fears of running out of money. Behavioral finance significantly influences spending habits in retirement. People with guaranteed income tend to spend more comfortably. Inflation poses a significant risk to retirement savings. Understanding the difference between risk and volatility is crucial for investors. Many retirees are too conservative with their investment strategies. Health insurance will become increasingly important in retirement planning. The focus of retirement planning is shifting from bequest to spending. Planning for retirement should consider both financial and emotional factors. Chapters 00:00 - Introduction to Greg Davis and His Journey 01:22 - The Intersection of Behavioral Science and Finance 05:45 - Building a Behavioral Finance Team at Barclays 10:53 - Understanding Behavioral Challenges in Retirement 21:57 - Navigating Retirement in a Complex World 29:50 - The Emotional and Financial Aspects of Retirement Planning 32:04 - The Role of Guaranteed Income in Retirement 36:16 - Behavioral Benefits of Guaranteed Income 40:05 - Real-Life Impacts of Guaranteed Income 44:23 - Inflation and Its Impact on Retirement Planning 48:37 - Understanding Risk vs. Volatility in Investments 57:27 - Future Trends in Retirement Planning Books & Authours Mentioned Nudge by Richard Thaler Misbeahving by Richard Thaler Thinking, Fast and Slow By Daniel Kahneman Research & Papers Referenced "A License to Spend" by David Blanchett, Michael Finke, and Wade Pfau The Jam Study (Choice Overload Study) by Shenna Lyengar and Mark Lepper Other Things to Note Oxford Risk Connect with Greg on LinkedIn Humans vs Retirement The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement

  Bob is a pioneer in the psychology and social science of retirement. He is a five-time best-selling author, nationally syndicated columnist and recognized presenter at retirement conferences across the US. He is the founder of the Retirement Coaches Association, Certified Professional Retirement Coach Designation and Retirement Intelligence Assessment. His work has reached millions of retirement readers through seven books, twelve guides, and over 800 articles. In addition to his own writings, he frequently appears in major business media outlets such as the Wall Street Journal, USA Today, CNBC, MarketWatch, the New York Times, and more. As a former social worker turned retirement expert and author, he has found that retirement is among the most fascinating, yet least understood, phases of life. As a result, he has developed a powerful message to tackle the mental, social, physical, spiritual, and financial aspects of retirement. In this episode Bob and discuss the common misconceptions about retirement, the rise of grey divorce, and the importance of pre-retirement planning. We also tackle some tricky subjects and highlight the dark side of retirement, including loneliness and addiction, and the necessity of establishing new routines to maintain mental health and social connections post-retirement. Bob discusses the evolving concept of retirement, emphasising the importance of identity, purpose, and personal fulfilment over financial wealth and he introduces the Retirement Quotient framework, which assesses readiness for retirement through various personal dimensions, including emotional and spiritual well-being. Key Takeaways Retirement planning should focus on the individual, not just finances. Many retirees experience a drop in social interactions. Pre-retirement planning is crucial for a successful transition. The 'honeymoon phase' of retirement can lead to disillusionment. Loneliness and addiction are significant issues in retirement. Couples often struggle with identity and purpose post-retirement. Establishing new routines is essential for mental health. Workaholism can hinder the retirement experience. Communication between partners is vital for a successful retirement. Retirement should be planned as a new chapter, not an end.  The new wealth is found in work-life balance and connections. Retirement amplifies who you already are, not who you want to be. Maslow's hierarchy applies to retirement, focusing on self-actualization. Retirement requires a proactive framework for success. The Retirement Quotient assesses personal readiness for retirement. Understanding personal traits is crucial for retirement planning. Retirement is an empty bucket that needs to be filled meaningfully. Mindset and habits are essential for a fulfilling retirement. Stop waiting for retirement to start living your values. The only guarantee in retirement is the inevitability of death. Books Mentioned Retirement Intelligence – Bob Laura's book From Strength to Strength – Arthur Brooks book mentioned in the discussion about workaholism and identity) The Top Five Regrets of the Dying – Bronnie Ware's book referenced when discussing regrets and priorities in retirement The Power of Regret – Daniel Pink's book talked about in relation to turning regrets into action  Websites & Resources Retirement Coaches Association – Bob Laura's organization focusing on retirement coaching Bob Laura's Website – Link to Bob Laura's official website for resources, blogs, and retirement coaching. Retirement Quotient (RQ) Assessment – Bob's online assessment tool for RQ Harvard Study of Adult Development – The famous study mentioned in the discussion about social connection and longevity.  Other Mentions Gray Divorce Statistics – The Gray Divorce Revolution: Rising Divorce Among Middle-aged and Older Adults, 1990-2010 Loneliness & Aging Research – Loneliness in Old Age: An Unaddressed Health Problem Humans vs Retirement The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement  

Today I welcome Leisa Peterson to the show, Leisa is the author of The Mindful Millionaire in which she writes brilliantly about overcoming scarcity, experiencing true prosperity and creating the life you really want. Leisa is on a mission to help 1,000,000 people elevate their financial consciousness by realizing their true value and creating greater financial security for themselves.   As a money coach, business consultant and spiritual teacher, Leisa host's the Mindful Millionaire podcast as well as virtual workshops and transformative retreats.  Her masterful blend of sound financial strategy and mindfulness training helps people break free of patterns of lack, scarcity and money fears, allowing them to finally lead the rewarding, fulfilling, and abundant lives they most desire.   Leisa has appeared in The Wall Street Journal, Forbes and The Huffington Post to name a few and has been featured on many podcasts and radio shows. In this great conversation Leisa and I explore the intricate relationship between money, mindset, and personal values. Leisa shares her journey from a life of scarcity to becoming a mindful millionaire, emphasizing the importance of understanding one's emotional connection to money. We discuss how past experiences shape financial behaviours, the significance of cultivating a prosperity mindset, and the role of mindfulness in overcoming financial fears. We explore the importance of slowing down to make better financial decisions, aligning spending with personal values, and confronting financial realities. There is also some great nuggets of wisdom as we talk about the normalization of financial fears, the impact of past money stories, and the process of rewriting financial narratives. And make sure you listen in as Leisa introduces her, I Prosper process, which integrates mindfulness and emotional wellbeing into financial planning, ultimately leading to a reinvention of life and relationships. Key Takeaways The journey from scarcity to abundance is transformative. Understanding your money mindset is crucial for financial well-being. Mindset is deeply emotional, not just logical. Focusing on what you have can shift your perspective. Redefining success involves aligning values with financial decisions. Life events can catalyze significant changes in financial perspectives. Fear often drives financial decisions and behaviors. Storytelling can make financial planning more relatable and effective. Mindfulness practices can help manage financial anxiety. Emotional awareness is key to enjoying life and spending money. Slowing down is essential for better decision-making. Aligning spending with personal values can enhance fulfillment. Confronting financial realities can be daunting but necessary. Normalizing financial fears helps in addressing them. Understanding past money stories can reveal limiting beliefs. Rewriting financial narratives is possible at any stage of life. The I Prosper process offers a holistic approach to financial planning. Reinventing life involves prioritizing meaningful relationships. Every moment of life is precious and should be cherished. Mindfulness in financial planning can lead to emotional wellbeing. Books Mentioned: The Mindful Millionaire by Leisa Peterson https://www.amazon.com/Mindful-Millionaire-Overcome-Experience-Prosperity-ebook/dp/B0818QDPW1 The Money Catalyst by Leisa Peterson (Upcoming Release on May 11, 2025) (Pre-order link to be added when available) Websites & Resources: Leisa Peterson's Wealth Clinic https://www.wealthclinic.com The Mindful Millionaire Podcast https://www.wealthclinic.com/podcast/ Concepts & Frameworks: The I PROSPER® Framework Leisa's 8-step process to help individuals transform their relationship with money. More details can be found here: https://www.wealthclinic.com/i-prosper-process/ Additional Resources: Mindfulness & Money Mindset Explore articles and resources on financial mindfulness at https://www.wealthclinic.com/mindful-millionaire-book/ Research on Spending & Happiness A study by Harvard Business School on how spending impacts well-being: https://www.hbs.edu/faculty/Pages/item.aspx?num=50495 Related Media: Interview with Leisa Peterson: How To Become A Mindful Millionaire https://www.youtube.com/watch?v=Ug0ghHVy9ww Humans vs Retirement The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement    

Summary Welcome to a very special episode 72 of The Humans vs Retirement Podcast…  Why is it special I hear you say…  Well, its special because it's a real retirement story and journey as I have a conversation with my wonderful client Julian Hince.  Whilst I love bringing expert opinions to you I think nothing hits home and resonates more than a real story of someone who has been through and is living through his own retirement journey.   As a bit of background to our conversation, Julian recently retired after a long career in financial services. He shares his journey towards retirement, discussing the emotional challenges he faced, the importance of seeking help, and the misconceptions surrounding how much is enough. He emphasizes the need to have open honest and vulnerable conversations about money and the emotional aspects of retirement planning, highlighting that retirement is not just about finances but also about finding purpose and identity in this new phase of life.   Julian shares inspirational insights and experiences on his journey to retirement, emphasizing the importance of financial advice, emotional preparation, and the joy of spending time with family. He discusses the transformative freedom retirement brings, the significance for him of giving back to the community, and the need for having accountability in managing his retirement finances. Julian also highlights his changing spending patterns in retirement, noting a natural decline his expenses as he becomes more vigilant about his spending. Throughout our conversation he offers first hand valuable advice for those considering retirement, stressing the importance of commitment and professional guidance.  Key Takeaways Julian emphasizes the importance of seeking help when planning for retirement, even for those in the financial industry. The emotional aspects of retirement are as crucial as the financial ones, and should not be underestimated. Many people have misconceptions about how much money is needed for retirement, often influenced by outdated benchmarks. Julian's journey involved making sacrifices, such as selling possessions, to achieve his retirement goals. The transition to retirement can be emotionally challenging, requiring individuals to find new purpose and identity. Conversations about money and retirement are often avoided, leading to misinformation and fear. Julian found joy in decluttering his life, realizing that material possessions held less value than his newfound freedom. The journey to retirement is ongoing, with emotional ups and downs that need to be navigated. It's important to think beyond the initial excitement of retirement and consider long-term fulfillment. Julian's experience highlights the need for a new generation to redefine retirement planning in a changing financial landscape. You might be surprised at how much is enough financially. Don't underestimate the emotional impact of retirement planning. Engaging with a professional can provide invaluable support. Spending time with family is one of the biggest joys of retirement. Loneliness is a significant issue for the elderly. Creating memories is more important than just focusing on money. Being vigilant about spending can lead to significant savings. Retirement allows for more time to focus on personal passions. Giving back to the community can enhance personal fulfillment. Accountability is crucial in managing retirement finances. Chapters 00:00 - Introduction to Julian's Retirement Journey 01:56 - Julian's Career in Financial Services 04:31 - The Decision to Seek Help 06:37 - Understanding the Emotional Aspects of Retirement 09:53 - Challenging Preconceptions About Retirement Savings 12:58 - The Importance of Conversations About Money 15:58 - Making Sacrifices for Retirement 19:37 - The Joy of Letting Go of Material Possessions 22:38 - Surprises in the Transition to Retirement 24:56 - Navigating Emotional Challenges 27:52 - The Ongoing Journey of Finding Purpose 30:50 - Breaking the Silence on Retirement Finances 32:09 - Lessons Learned on the Retirement Journey 34:05 - Embracing Freedom and Family 36:40 - The Joy of Giving Back 39:10 - The Importance of Accountability 44:47 - Finding Purpose in Retirement 49:05 - Understanding Spending Patterns in Retirement 56:43 - Top Advice for Future Retirees Links The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement  

Summary In this episode I get to chat with author and behavioural scientist, Richard Shotton.  Richard specialises in how humans make choices and has written 2 excellent books on this subject, the choice factory and the illusion of choice. He further specialises on applying findings from psychology and behavioural science to how businesses market their services and why consumers buy stuff  In this episode, Richard discusses the intersection of behavioural science and marketing, particularly in the context of how people make spending decisions in retirement. He shares insights from his research and experiences, highlighting the importance of fairness, social proof, and the emotional aspects of financial choices.   Our discussion also emphasizes the benefits of spending on experiences and others, as well as the challenges individuals face in transitioning from saving to spending during retirement.   Richard and I explore the complexities of retirement planning, focusing on behavioural economics and the psychological factors that influence spending habits. We discuss the importance of making financial decisions easier, and the impact of loss aversion on retirees' spending behaviours. We also delve into the paradox of choice and how an abundance of options can lead to decision paralysis. Key Takeaways Behavioral science can significantly improve marketing effectiveness. Fairness influences decision-making, often leading to suboptimal choices. Social proof plays a crucial role in financial decisions, especially in retirement. People often focus too much on outcomes rather than the decision-making process. Experiential spending tends to yield greater happiness than material purchases. Generosity in spending can enhance personal happiness. Expectations can heavily influence our experiences and satisfaction with purchases. Consistency bias can hinder the transition from saving to spending in retirement. Nudges can effectively guide individuals towards better financial choices. Understanding behavioral biases is key to making informed decisions.  The shift in saving defaults has significantly influenced saving habits. Making financial decisions easier can lead to better outcomes. Loss aversion plays a crucial role in how people spend their money. People are more likely to spend from guaranteed income than from capital. The paradox of choice can hinder decision-making in retirement planning. Financial advisors should use simple language to communicate effectively. Concrete stories are more memorable than abstract concepts in financial advice. Visualizing retirement can help individuals make better financial decisions. Defaults in financial products can greatly impact consumer behavior. Understanding and leveraging biases can improve financial planning outcomes. Chapters 00:00 - Introduction to Behavioral Science in Marketing 06:01 - Social Proof and Herd Mentality in Retirement 12:10 - Spending Money Wisely: Experiences vs. Material Goods 17:53 - The Importance of Generosity in Spending 28:10 - Consistency Bias in Retirement Spending 36:02 - Behavioral Insights on Spending and Saving 42:10 - Navigating the Paradox of Choice 50:02 - Effective Communication for Financial Advisors Links The Choice Factory The Illusion of Choice The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement

Summary In this episode of The Humans vs Retirement Podcast is get to chat with Susan Latremoille Susan is a certified Retirement Coach (CPRC) and the author of The RichLife – Managing Wealth and Purpose, It's Not Just about the Money – The Whole Life Approach to Wealth Management, and co-author – Thriving Throughout Your Retirement Transition.  Susan spent over 35 years as a wealth advisor assisting clients to financially plan for their retirement. She saw a common thread among her clients. Having enough money to retire was only a piece of the retirement puzzle. It was the non-financial side that had the greatest impact on the predictability of a successful retirement. That's when Susan decided to launch next chapter lifestyle advisers, a retirement lifestyle consulting business that helps individuals and families create a retirement lifestyle plan   In our conversation Susan discusses her transition from a financial advisor to focusing on the non-financial aspects of retirement planning through her company, Next Chapter Lifestyle Advisors. She shares insights on the importance of understanding your life journeys and the concept of a 'rich life' that encompasses living well, giving back, and leaving a legacy.   Susan introduces the idea of a happiness portfolio, which includes eight non-financial areas of life that contribute to a fulfilling retirement. Our conversation emphasizes the need for a holistic approach to retirement planning that goes beyond numbers to include personal fulfillment and purpose.   Susan and I discuss the multifaceted aspects of retirement, emphasizing the importance of leisure, the dynamics of relationships, and the necessity of planning for a fulfilling next chapter in life. We explore the challenges retirees face in managing their time, setting boundaries, and maintaining social connections, while also advocating for a shift in perspective from traditional retirement to a more vibrant and purposeful next chapter.  Key Takeaways Many retirees are not as happy as they expected. Understanding the life journey is crucial for retirement planning. The rich life mantra includes living well, giving back, and leaving a legacy. Purpose is essential for a fulfilling life after retirement. A happiness portfolio consists of eight non-financial areas of life. Retirement can bring challenges in personal relationships. Leisure is just one aspect of a fulfilling retirement. Self-understanding is the first step in retirement planning. Accountability is key to implementing a retirement plan. Leisure is a vital part of retirement planning. Changing relationships require open communication. Hedonic adaptation can diminish the joy of leisure activities. Structuring time is essential for a fulfilling retirement. The retirement honeymoon phase should be managed carefully. Setting boundaries is crucial to avoid overcommitment. Planning for the next chapter is as important as financial planning. Retirement should be reframed as a new beginning. Storytelling is more impactful than numbers in retirement planning. Communication about expectations can enhance family dynamics Sound Bites "Live well, give back, leave a legacy." "Purpose is a human need that we all need." "It's a very individual journey." "Leisure is such a vital part." "You need to really think about it." "It's vital to communicate your boundaries." "We need to retire the word retirement." "We are storytellers over spreadsheets." "Make a plan for your next chapter." Chapters 00:00 - Introduction to Next Chapter Lifestyle Advisors 05:23 - The Shift from Financial to Non-Financial Planning 10:31 - Understanding the Rich Life Mindset 17:00 - Building a Happiness Portfolio for Retirement 24:50 - The Importance of Leisure in Retirement 27:13 - Navigating Changing Relationships 29:47 - The Reality of Leisure Activities 33:01 - Structuring Time in Retirement 35:57 - The Retirement Honeymoon Phase 38:56 - Setting Boundaries and Communication 43:06 - Reframing Retirement: A New Perspective Links Next Chapter Lifestyle Advisors Susan's book 9 Steps to a Rich Life in Retirement The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement

Summary I had the privilege to sit down with Jordan Grumet, author of the brilliant new book The Purpose Code and host of The Earn & Invest Podcast. In this conversation, Jordan shares his journey from being a physician to discovering the importance of purpose in life, particularly in retirement. He discusses the paradox of purpose, the difference between Big P and Little P Purpose, and how societal expectations can lead to anxiety around finding purpose. Jordan emphasises the need to create and build purpose rather than simply searching for it, and highlights the importance of community and connections in achieving fulfillment and happiness.  Jordan and I explore the concepts of purpose, identity, and the flawed notion of retirement. We discuss how individuals often strive for external validation through accomplishments, but true fulfillment comes from understanding one's identity and engaging in meaningful activities. Our discussion emphasises the importance of time over money, the impact of little-p purpose in life, and the common regrets people have at the end of their lives. Ultimately, Jordan encourages you to focus on the journey of life rather than the destination, and to seek out what truly lights you up. Key Takeaways Purpose is essential for a fulfilling life, especially in retirement. Big P Purpose can lead to anxiety and frustration. Little P Purpose focuses on the process and is more attainable. Creating purpose involves identifying what lights you up. Community and connections are vital for happiness. People often replace work-based purpose with similar frameworks in retirement. Meaning is about understanding our past, while purpose is about present actions. Happiness comes from both meaning and purpose working together. Investing in personal passions can inspire others, especially children. The journey to enoughness is crucial for finding true fulfillment. We often strive for external validation through accomplishments. True fulfillment comes from understanding our identity. Retirement should be viewed as a journey, not a destination. Time is always more important than money. Money is a tool, but little-p purpose moves the needle. Many people regret not pursuing their true passions. Success is less important than the effort and journey. Living with purpose can lead to a peaceful end of life. We should focus on what lights us up in life. The concept of enough is often smaller than we think. Sound Bites "We need to put purpose first." "Big P Purpose is associated with anxiety." "Little P Purpose focuses on process, not goals." "You have to build and create purpose." "Purpose is a conduit to people." "Happiness is meaning and purpose together." "You can't purpose your way to enough." "Identity is based not on goals, but on actions." "Retirement is a flawed concept." "Money is a mirage." Chapters 00:00 -Introduction to Purpose and Identity 02:31 - Jordan's Journey: From Doctor to Purpose Advocate 06:57 - The Paradox of Purpose: Anxiety vs. Fulfillment 12:39 - Big P vs. Little P Purpose: Understanding the Difference 16:31 - Creating Purpose in Retirement: The Challenge Ahead 20:52 - Building Community Through Little P Purpose 27:40 - Meaning vs. Purpose: The Journey to Enoughness 30:29 - Finding Meaning Beyond Striving 31:56 - The Challenge of Identity 34:04 - Redefining Retirement as a Journey 39:26 - The Value of Time Over Money 42:05 - The Impact of Little-P Purpose 46:27 - Regrets and Lessons from the Dying Links The Purpose Code The Earn & Invest Podcast The Super Sunday Retirement Roundup Newsletter The Skill of Spending Money in Retirement Whitepaper The Humans vs Retirement Sketchstore Book in a Time For us to Chat About Your Retirement  

Welcome to a special end of 2024 solo episode of the Humans vs. Retirement podcast! This year there has been 40 episodes of the podcast released and I'm touching on 90,000 downloads, which blows my mind! I have been so lucky to have conversations with amazing guests and the feedback has been so humbling to hear.   So, I want to take a moment to thank each and every one of you for joining me on this journey. Whether you've tuned in to one episode or every single one, I'm so grateful for your support and the incredible conversations we've shared together this year. And if you haven't yet had time to leave a review and rating then best Christmas present you could give me would be to leave one! It really helps spread the word!   As I look back at 2024, I want to share some highlights from the past 12 months, touch on the common themes that emerged, and leave you with five key takeaways that I hope will resonate as you reflect on your own journey Reflecting on 2024: Highlights & Themes  This year has been such a meaningful one for the podcast. Together, we've explored the realities of retirement, challenged common assumptions, and learned from so many insightful guests. Here are some highlights and recurring themes from our episodes this year:  The Emotional Side of Retirement:  We learned that retirement isn't just about financial planning—it's also about preparing emotionally. Guests shared how identity, purpose, and connection play vital roles in creating a fulfilling retirement.  Finding Purpose Post-Retirement:  A recurring message from our conversations was the importance of rediscovering purpose, whether it's through volunteering, pursuing hobbies, or starting new ventures.  Navigating the Challenges of Change:  Many of our guests spoke candidly about the challenges they faced transitioning into retirement, from redefining routines to managing relationships.  Health as the Foundation:  Health and well-being emerged as central themes, with our guests emphasizing the need to invest in both physical and mental health to make the most of retirement.  The Power of Community:  Lastly, we often heard about the value of building and maintaining strong social networks during retirement—it's truly a time when connections matter more than ever Five Big Takeaways from 2024 As we wrap up this incredible year, I want to leave you with five key takeaways from the conversations we've had on the podcast:  Retirement Is a Transition, Not a Destination:  It's a process, not a single moment. Give yourself grace as you navigate this new chapter.  Purpose Doesn't Retire:  Finding new ways to contribute, grow, and enjoy life is essential to a fulfilling retirement.  Plan Beyond the Finances:  A solid financial plan is important, but don't neglect your emotional and social planning.  Stay Curious:  This is your time to explore, learn, and embrace new experiences. Stay curious about the possibilities ahead.  Invest in Relationships:  Relationships—both new and old—will be your greatest source of joy and support in retirement. Nurture them.  What does 2025 look like for you?  My team and I are looking to help 15 new families this year, so if you are based in the UK, thinking about your retirement in the next few years and want to explore working with me to plan and live your dream second half of life then please use the link below to book in a time for us to chat early in the new year. Book in a time for us to chat Of course we must be a right fit to work together on this very important phase of life so please fill in the form when clicking on the link and if we are a good fit then you will be able to book in a slot in my diary for us to chat.  Happy Holidays!! Before I sign off, I just want to say thank you once again for being part of this journey with me. Your support, feedback, and enthusiasm mean the world, and it's been a privilege to share these conversations with you throughout the year.  As we head into the holiday season, I hope you take time to celebrate, relax, and connect. I'm wishing you a very Merry Christmas and a wonderful start to the New Year.  Here's to an exciting 2025 filled with new adventures, meaningful conversations, and continued growth. I've already got some brilliant episodes recorded and cracking guests lined up so I cannot wait to see you next year!    

Summary In this episode, I'm thrilled to welcome back to the show Christine Benz as we delve into her best selling book How to Retire: 20 Lessons For a Happy, Succesful, And Wealthy Retirement.  When Christine was a guest on the podcast in ep 36 back in March of this year, her book had not yet been released but we did get a sneak peek into what she had in store for us.   Now, having got my hands on a copy and seeing how successful the book has become I wanted to get Christine back on the show to talk about my 5 favourite chapters or lessons from the book. So, stay tuned as we discuss  Laying the groundwork with Fitz Gilbert Creating a spending plan with Jonathan Guyton Permission to spend on what matters most with Ramit Sethi Structuring portfolios for cashflow by Christine herself Leave no regrets with Jordan Grummet   Throughout our conversation Christine and I explore the multifaceted aspects of retirement, focusing on the importance of mindful spending, the balance of time, money, and health, effective cash flow strategies, and the significance of purpose in life. We discuss how individuals can align their spending with their values, the psychological benefits of structured cash flow, and the necessity of reflecting on life to avoid regrets.   Key Takeaways Retirement is a unique life stage that requires thoughtful planning. Visualizing how to use retirement years is crucial. Financial resources should support lifestyle choices in retirement. People often underestimate the complexities of retirement planning. A holistic approach to retirement includes both financial and non-financial aspects. Laying groundwork involves both financial and personal preparations. Experiencing mini-retirements can provide valuable insights. Flexible spending strategies are essential for adapting to life changes. Non-portfolio income sources can enhance financial security in retirement. Understanding the behavioral aspects of spending can improve retirement planning. Mindful spending aligns with personal values. Revisiting values annually is crucial for retirees. Cash flow strategies provide peace of mind in retirement. Purpose in life can be cultivated through small actions. It's important to enjoy the journey of life. People regret not attempting rather than failing. Elevating your worry-free number can reduce stress. Understanding the balance of time, money, and health is essential. Small P purposes can lead to a fulfilling retirement. Time is a non-renewable resource that should be valued.  Sound Bites "This is a really special life stage." "Use your time wisely, use it thoughtfully." "You need a unified vision for retirement." "Mini retirements can be really impactful." "Flexible spending strategies are essential." "Non-portfolio income sources are important." "Spending feels better than saving." "Spending your money on what matters to you." "Elevate your worry-free number." "Purpose is not found, it's created." "We regret not attempting, not failing." Chapters 00:00 - Introduction to Retirement Planning 03:13 - The Essence of Retirement: Time and Vision 06:00 - The Complexity of Retirement: Balancing Finances and Purpose 08:55 - Laying the Groundwork for Retirement 12:05 - Experiencing Mini-Retirements 21:05 - Creating a Flexible Spending Plan 29:30 - The Importance of Spending Mindfully 36:30 - Understanding Time, Money, and Health Balance 42:15 - Cash Flow Strategies for Retirement 48:42 - Leaving No Regrets: Embracing Purpose in Life Links Buy How to Retire Book in a time for us to chat about your retirement plans  

Summary In this episode, Dr Daniel Crosby returns to discuss his new book The Soul of Wealth and the concept of soulful wealth, particularly in the context of retirement. He emphasises that money should serve individuals rather than control them, and highlights the importance of relationships and personal growth in achieving happiness. Our conversation explores the PERMA model, which outlines five facets of flourishing: Positive experiences, Engagement, Relationships, Meaning, and Advancement. Daniel stresses the need for intentionality in retirement planning, focusing on non-financial elements that contribute to a fulfilling life. He also discusses the limitations of money and the critical role of time management in enhancing well-being. Throughout our enlightening conversation, Daniel and I explore the intricate relationship between money, happiness, and retirement. We discuss the increasing screen time among retirees, the role of AI in daily life, and how spending money can align with personal values to enhance joy. Our discussion delves into the societal pressures of materialism, the fear of the unknown in retirement, and strategies for managing uncertainty. Ultimately, Daniel emphasises the importance of making conscious financial choices that reflect one's true values and the potential for positive surprises in the future. Key Takeaways Money should serve you, not control you. Strong relationships are key to happiness. Retirement planning should include non-financial elements. The PERMA model outlines five facets of flourishing. Engagement in meaningful activities is crucial in retirement. Loneliness can have severe health impacts. Intentionality in spending free time is essential. Advancement and personal growth should continue post-retirement. Expectations of retirement can lead to disappointment. Time management is a powerful tool for happiness. Retirees are increasingly spending time watching television due to newfound free time. AI should handle mundane tasks, allowing humans to focus on creativity. Spending money on experiences and relationships can lead to greater happiness. Aligning spending with personal values is crucial for fulfillment. Materialism is linked to lower well-being and should be avoided. Fear of the unknown can hinder retirement satisfaction. Controlling what you can in finances is essential for peace of mind. Expect market fluctuations as a normal part of investing. Positive uncertainty can lead to unexpected joys in life. Chronic stress is detrimental; managing expectations is key.  Sound Bites "Money is a servant and not a master." "Relationships are profoundly messy." "Retirement is often put on a pedestal." "Money can't buy us happiness outright." "Time is the ultimate purchase." "We spend our free time on screens." "I want AI to mow my lawn and do my laundry." "Align your spending with your core values." "The Joneses aren't as happy as they seem." "Expect market corrections; they are normal." Chapters 00:00 - Introduction and Welcome Back 01:13 - Defining Soulful Wealth 05:00 - The Role of Relationships in Retirement 10:08 - Exploring the PERMA Model 14:25 - Creating Opportunities for Advancement 16:18 - The Reality of Retirement Expectations 19:24 - Understanding Money's Limitations 22:12 - The Importance of Time in Retirement 25:58 - The Rise of Screen Time in Retirement 27:47 - The Role of AI in Daily Life 28:44 - Spending Money for Happiness 34:31 - Aligning Spending with Values 37:27 - The Joneses Aren't Happy 42:07 - Confronting the Fear of the Unknown 49:44 - Managing Uncertainty in Retirement Links Buy Daniel's brilliant book The Soul of Wealth TED Talk by Martin Seligman on Positive Psychology & the PERMA Model Book in a time for us to chat about your retirement plans    

Summary In this episode of the Humans vs Retirement podcast, Sheridan shares her inspirational journey through trauma and healing, emphasising the importance of understanding the nervous system's role in our experiences. Our conversation explores the challenges of modern retirement, likening it to a form of grief, and highlights the need for intentional preparation for this significant life transition. Sheridan and I explore the emotional and psychological aspects of navigating challenges, particularly in the context of retirement and personal growth. We discuss the importance of understanding emotional responses, the necessity of lifelong learning, and the skills required to manage sensations and emotions effectively. She emphasises the significance of spending money wisely to create lasting memories, the barriers individuals face in changing their spending habits, and the differences in emotional expression between genders. The conversation concludes with actionable insights for listeners to reflect on their own narratives regarding money and life transitions. Key Takeaways Sheridan's story illustrates resilience and the power of healing. The nervous system plays a crucial role in our life experiences. Modern retirement poses unique challenges for individuals. Retirement can evoke feelings similar to grief.People often neglect to plan adequately for retirement. Understanding one's nervous system can aid in emotional regulation. The transition into retirement can feel lonely and confusing. Money is a significant factor in how we experience safety and identity. Intentional preparation for retirement can lead to fulfillment. This phase of life can be the most rewarding if approached thoughtfully. Your body perceives the threat is too big. We just haven't given ourselves the tools to deal with challenges. Every single thing that we avoid is about the sensations it creates. Being with corporal sensation is a skill that can be learned. The best retirees are lifelong learners who stay curious. Learn how to be with more sensations in your body. Spending money is a skill that no one's ever been taught. Turn your money into memories rather than just saving. Your full-time job is now nervous system regulation after retirement. The biggest blocker to spending is our internal wiring and identity. Sound Bites "Sheridan's story is truly inspirational." "The nervous system's job is to keep you safe." "Retirement is like a form of grief." "This is crucial stage of life." "Your body perceives the threat is too big." "We just haven't given ourselves the tools." "Being with corporal sensation is a skill." "The best retirees are lifelong learners." "Turn your money into memories." "The biggest blocker is our internal wiring." Chapters 00:00 - Introduction and Background 07:50 - Sheridan's Journey Through Trauma 14:57 - Understanding the Nervous System 19:52 - The Challenges of Modern Retirement 26:04 - Retirement as a Form of Grief 28:02 - Understanding Emotional Responses to Challenges 32:15 - The Importance of Lifelong Learning 34:10 - Navigating Sensations and Emotions 35:21 - The Skill of Spending Money Wisely 38:41 - Barriers to Spending and Emotional Vulnerability 41:26 - Nervous System Regulation and Emotional Processing 44:37 - Gender Differences in Emotional Expression 49:27 - Final Thoughts and Homework for Listeners Links www.sheridanruth.com Nervous System Cheat Sheet

Summary In this episode of the Humans vs Retirement podcast, I get to have a great conversation with Victoria Barker, co-founder of Beyond Your Career. Beyond Your Career is a programme led by a skilled team of expert coaches, psychologists and neuropsychologists to help ensure a smooth psychological transition from a demanding career, which includes workshops and insights from world-class experts and a supportive community of peers navigating the same transition. We discuss the challenges of transitioning from demanding careers to retirement, the importance of early planning, and the psychological aspects of identity and purpose. Victoria shares her journey of co-founding Beyond Your Career, driven by her observations of the struggles faced by individuals, particularly men, during this transition. Our conversation emphasises the need for community support, understanding one's identity beyond work, and the significance of preparing for retirement well in advance. Victoria and I explore the themes of career transitions, rediscovering passions, and the importance of values in shaping one's purpose. We discuss the courage required to pursue new paths, the common tendency to follow societal expectations, and the significance of introspection in finding fulfillment. Our discussion also highlights the impact of the book 'The Why Cafe' on understanding purpose and the necessity of values as a foundation for personal growth and decision-making. Key Takeaways The transition from a demanding career can lead to identity crises. Planning for retirement should start years in advance. Community support is crucial during the transition process. Many individuals struggle with mental health after leaving their careers. Understanding personal values is key to a fulfilling retirement. The disconnect between research and real-life experiences is significant. Men are particularly at risk of struggling with retirement transitions. It's important to explore who you want to be, not just what you will do. Life reviews can help identify themes and desires for the future. Crafting multiple identities can aid in a smoother transition. Reflecting on past aspirations can lead to fulfilling new paths. Courage is essential for making bold career decisions. Many pursue roles they think they should, rather than what they want. Introspection is crucial for understanding personal desires. Transitioning from full-time work can be gradual and beneficial. Purpose can be found through exploration and experimentation. Values serve as the foundation for identity and purpose. Asking difficult questions can lead to deeper self-awareness. The journey to purpose often involves trial and error. It's important to recognize and avoid paths that don't resonate.  Chapters 00:00 Introduction to Beyond Your Career 04:29 The Journey to Co-Founding Beyond Your Career 08:38 Understanding the Transition Process 12:34 Planning for Retirement: The Importance of Early Preparation 18:50 The Disconnect Between Research and Reality 21:46 Identity Crisis: Who Are You After Retirement? 27:57 Crafting a New Identity Post-Career 31:18 Rediscovering Passions and Aspirations 34:49 The Courage to Change Paths 38:13 Questioning the 'Shoulds' in Career Transitions 41:58 Navigating the Transition from Full-Time Work 44:17 The Y Cafe: A Journey to Purpose 55:38 Values as the Foundation for Purpose Links Beyond Your Career  The Why Cafe   

About Kimberly Dr. Harms helps people understand the importance of showing their love for their families by setting them up for success through comprehensive legacy planning. Dr. Harms has witnessed death up close many times throughout her life. She suffered the loss of her mother and her son to suicide and, eventually, her husband from a broken heart. These events shaped her views on finding meaning in grief, and she set out on a mission to end the stigma around end-of-life planning. As a fourth-quarter coach and international speaker specializing in grief, conflict resolution, and legacy planning, she helps people put an emotional life insurance plan in place so that their loved ones are left in an emotionally healthy space after they are gone. Her book Are You Ready? How to Build a Legacy to Die For discusses how to build a legacy that lives on after your death. It was a #1 bestseller on Amazon and Barnes & Noble and named the most inspirational book of 2024 by the Pacific Book Awards. Summary In this episode of the Humans vs Retirement podcast, Dr. Kimberly Harms shares her profound journey through grief, loss, and the quest for purpose in the later stages of life. At 68, Kimberly reflects on her experiences, including the tragic loss of her Mum, son and husband, and how these events shaped her understanding of legacy and the importance of living fully. She emphasises the need for purpose in retirement, the significance of building quality relationships, and the power of love letters as a means to connect with family beyond death. Kimberly's insights encourage you to confront your mortality, embrace your life stories, and create meaningful legacies that transcend material wealth. Throughout our conversation, Kimberly and I explore the significance of building a legacy that resonates with love and connection. We discuss the importance of appointing trusted individuals to carry out one's wishes, navigating difficult conversations about death, and the emotional benefits of downsizing. Kimberly shares her personal experiences with grief and the importance of maintaining relationships, culminating in her concept of a 'Grateful But Not Yet Dead Tour' where she expresses appreciation to those who have impacted her life. Key Takeaways Grief affects everyone around us, and we must fight to overcome it. Retirement can lead to a sense of emptiness without purpose. Building quality relationships is key to happiness in life. Understanding mortality allows us to live more fully. Love letters can provide comfort and connection after death. We should take the initiative to develop relationships and not wait for others. Legacy is not about money; it's about the impact we leave behind. Writing letters can help express love and pride to family members. It's important to prepare for death to ease the burden on loved ones. We can reinvent ourselves in the later stages of life.  Appoint trusted individuals to carry out your wishes. Last minute statements can provide immense comfort. Regularly express love to family members. Cultural attitudes often deny discussions about death. Navigating conversations about death can be challenging but necessary. Downsizing can be painful but ultimately freeing. Focus on relationships over material possessions. Planning for the future can ease family burdens after death. Creating memories and experiences is a vital part of legacy. Expressing gratitude can enhance personal happiness and relationships. Sound Bites "I realized that I am in the fourth quarter of my life" "It's worth it to get out there and fight your way out" "Retirement is a time to reinvent ourselves" "You can't underestimate the power of those moments." "Those last minute statements are so powerful." "It's important to tell our family how much we love them." Chapters 00:00 - Introduction to Dr. Kimberly Harms 01:29 - Kimberly's Journey Through Grief and Loss 09:38 - The Impact of Grief on Life and Purpose 17:22 - Understanding Mortality and Living Fully 24:54 - Building a Legacy Beyond Money 29:10 - The Importance of Appointing Trusted Individuals 33:02 - Navigating Difficult Conversations About Death 40:01 - Downsizing and Emotional Wellbeing 49:18 - The Grateful But Not Yet Dead Tour Links Kimberly's book Are You Ready? How to Build a Legacy to Die For    

Summary In this episode of the Humans vs Retirement podcast, I interview Bill Bengen, the pioneer of the 4% safe withdrawal strategy, who shares insights from his extensive research on retirement income strategies. Bill discusses the evolution of the 4% safe withdrawal rate, revealing that the worst-case scenario may now be closer to 5%. He emphasises the importance of diversification, glider path investing, and rebalancing in enhancing withdrawal rates. The conversation also delves into the risks of inflation and the significance of understanding personal inflation rates in retirement planning. Bill concludes with thoughts on the current market environment and the future of retirement planning. Takeaways Bill Bengen's research has evolved the 4% rule to a 5% worst-case scenario. Only one out of 400 retirees in Bengen's database faced the 5% withdrawal rate. Diversification across multiple asset classes is crucial for sustainable withdrawals. Glider path investing can significantly enhance retirement income. Rebalancing portfolios regularly is essential to avoid overexposure to equities. Sequence of inflation risk poses a significant threat to retirees. Personal inflation rates often exceed government-reported figures. Retirement spending tends to decrease in real terms over time. Many retirees fear running out of money more than death itself. Current market conditions are unique and require careful planning. Sound Bites "The 4% rule has evolved to a 5% worst case." "Only one out of 400 retirees hit the 5% mark." "Diversification is key to higher withdrawal rates." Chapters 00:00 - Introduction to Bill Bengen and His Research 04:52 - The Evolution of the 4% Withdrawal Rule 10:05 - New Insights: The 5% Withdrawal Rate 14:49 - Strategies for Sustainable Withdrawals 20:07 - Understanding Inflation Risks in Retirement 25:09 - The Importance of Personal Inflation Rates 29:59 - The Future of Retirement Planning 34:58 - Conclusion and Future Directions

Summary In today's episode I'm thrilled to get to have conversation with the author of the brilliant book Creating Your Encore Career, Dr Michelle Prince  Michelle is a global leadership coach, HR technology advisor, human capital consultant and author. A certified leadership coach since 2006 with a doctorate in management and organizational leadership, she helps professionals and organizations achieve transformational growth.  Michelle has over 30 years of corporate HR experience and now runs her consulting firm, MPrince Consulting LLC. An advocate for sustainability and empowering people to thrive, she wrote the book Creating Your Encore Career in 2024 to inspire others to craft their own fulfilling Encore Careers.  Join us as Michelle and I discuss the concept of an encore career, which is a meaningful and purposeful career in the third act of life.  Michelle shares her personal journey of transitioning from a corporate HR role to becoming a global leadership coach and senior career coach and explains that many people approaching retirement age feel uncertain about what they want to do next and may not know how to navigate job searching in today's technology-driven world.  She wrote her book, 'Creating Your Encore Career,' as a step-by-step guide to help individuals in this stage of life explore their options, find fulfilment and transition into purpose driven work in their later years.  We explore the importance of a self-reflection process to identifying passions, values and interests which means that people should redefine their retirement to align with increased lifespans and evolving aspirations.  We also talk about the value of building a professional network and creating a personal brand to showcase expertise and attract new opportunities as well as exploring options like the gig economy, volunteering, entrepreneurship, or continued education  Our conversation also highlights the benefits of growth, curiosity, and exploration in an encore career, as well as the importance of financial planning and managing healthcare and insurance costs.  Takeaways An encore career is a meaningful and purposeful career in the third act of life, providing individuals with an opportunity to continue contributing and finding fulfillment. Many people approaching retirement age feel uncertain about what they want to do next and may not know how to navigate job searching in today's technology-driven world. Financial security is an important consideration when transitioning to an encore career, but it is not the primary driver. The focus is on finding work that aligns with personal values and provides flexibility and fulfillment. People in their 50s and beyond have accumulated knowledge, wisdom, and experience that make them valuable contributors in the workforce. It is never too late or too early to start planning for an encore career. Self-reflection is key to identifying passions, values, strengths, and desired work environments. Having open conversations with family members about expectations and boundaries can also help in designing an encore career. Self-reflection and identifying passions and interests are crucial in transitioning into an encore career. Expanding knowledge and skills through education and certifications can help overcome imposter syndrome and enhance credibility. Building a professional network and creating a personal brand are essential for attracting opportunities and showcasing expertise. Growth, curiosity, and exploration are key elements of an encore career, promoting wellbeing and preventing cognitive decline. Financial planning and managing healthcare and insurance costs are important considerations in an encore career. Sound Bites "An encore career is a meaningful and purposeful career in the third act of life." "Many people who are approaching retirement age feel uncertain about what they want to do next." "Financial security is important, but it is not the primary driver of an encore career." "You can create and design your own scenario" "It's important that you communicate" "Reflecting on your passions...what truly excites you" Chapters 00:00 Introduction and Personal Journey 05:16 Redefining Retirement and the Encore Career Movement 09:24 Challenges of Traditional Retirement Options 13:24 Increased Lifespans and Evolving Aspirations 18:38 Retirement Insecurity and Financial Considerations 24:13 The Value of Wisdom and Knowledge in the Third Act 26:21 Identifying Passions, Values, and Strengths 28:11 Transitioning into an Encore Career: Reflection and Passion 30:08 Building a Professional Network and Personal Brand for an Encore Career 36:07 Embracing Growth, Curiosity, and Exploration in an Encore Career 52:47 Financial Planning and Healthcare Considerations in an Encore Career Links Michelle's book Creating Your Encore Career 

Summary Today's conversation is a first for my podcast in that I welcome back a previous guest!  And I couldn't think of having my first repeat guest as anyone better that the brilliant George Kinder!   George was previously on the show in episode 20 where we discussed Life planning and how to light the retirement torch. For those that don't know, George is widely regarded as the father of Financial Life planning and a global leading voice in this field.  Today's conversation centres around Goerges new book The Three Domains of Freedom which explores the different aspects of freedom and how the relate to a fulfilling life.   The three domains we discuss are: The freedom of each moment, The freedom to pursue one's life and the freedom within civilisation.  During our conversation George emphasises the importance of mindfulness and being preset in each moment to experience true freedom. He also discusses the significance of having a passionate purpose and taking control of your life.   George and I also discuss the the concept of freedom and its various dimensions. We talk about freedom of thought, freedom of time and the importance of celebrating achievements, no matter how small!  We also touch on the state of society and the need for unity and trust and at the end George shares his proposal for a legislative solution to create a more trustworthy and humane civilisation.  Takeaways Mindfulness and being present in each moment is key to experiencing true freedom. Having a passionate purpose and taking control of one's life leads to a sense of fulfillment. Shortening timeframes and taking action can create a sense of energy and accomplishment. Working with a skilled life planner can help uncover hidden desires and goals. Freedom encompasses more than just physical freedom; it includes freedom of thought and freedom of time. Celebrating achievements, no matter how small, is important for a fulfilling life. Society is currently fragmented and polarized, but there is a solution: unity and trust. George Kinder proposes a legislative solution that requires institutions to have a fiduciary obligation to truth, democracy, the planet, and humanity. Creating a trustworthy civilization starts with individuals and businesses adopting a fiduciary standard. Sound Bites "There were three domains.""Mindfulness is really about the mastery of the present moment." "Feeling that I have a passionate purpose that I am moving toward or living in." "It doesn't mean that it's freedom just to go and sit on the couch or lay on the..." "When I talk to a lot of people that I've worked with, they actually talk about freedom of thought a lot." "Celebrating achievements, you know, no matter how small they are, I think is really critical to a fulfilling life." Chapters 00:00 Introduction and Overview 02:55 The Three Domains of Freedom 05:52 The Freedom of Each Moment 11:52 Finding Your Passionate Purpose 17:59 Shortening Timeframes for Action and Energy 26:21 Exploring the Dimensions of Freedom 28:30 Unity and Trust in a Fragmented Society 44:03 A Legislative Solution for a Trustworthy Civilization Links George's new book The Three Domains of Freedom My YouTube Channel

Summary Today's conversation is with retirement investing, income planning and life satisfaction expert, Michael Finke  Michael is a professor of wealth management and Frank M. Engle Distinguished Chair in Economic Security at The American College of Financial Services.   He received a doctorate in consumer economics from the Ohio State University in 1998 and in finance from the University of Missouri in 2011. He leads the O. Alfred Granum Center for Financial Security at the American College and is a research fellow at the Retirement Income Institute, and a member of the Defined Contribution Institutional Investment Association Academic Advisory Council.   He is an internationally known researcher in the areas of retirement income planning, retirement spending, life satisfaction, and cognitive aging. He is a frequent speaker at financial planning conferences and was named one of the 25 most influential people in the field of investment advising in 2020 and 2021 by Investment Advisor Magazine.  In this conversation, Michael and I discuss the importance of mindset and positivity in retirement planning. We explore the correlation between health and financial behaviours among retirees and the role of positivity in driving savings and spending behaviour. We also discuss the benefits of annuities as a way to ensure a guaranteed income in retirement and how the psychological impact of spending from income versus spending from assets is often a licence to spend for many retirees. The conversation emphasizes the need to align money with values and goals to maximize happiness in retirement.  Takeaways There is a strong connection between health behaviors and money behaviors, as both involve making decisions to defer gratification and invest in a better future. Retirement income planning should involve considering both spending and legacy goals, and giving oneself the agency to choose how much of their savings to spend and how much to pass on to others. It is important to recognize and accept our own mortality when planning for retirement, and to design a plan that allows us to spend the money we've saved for the purpose of enjoying a better lifestyle. Retirement should be viewed as an opportunity to bring forward the ability to give money to loved ones and causes we care about, rather than waiting until the end of life. Spending money in retirement can bring more happiness and satisfaction than simply accumulating wealth, and it is important to prioritize experiences and social interactions that provide joy. Designing a retirement plan should involve envisioning the future and creating a financial structure that supports the desired lifestyle, rather than solely focusing on numbers and spreadsheets. Mindset and positivity play a crucial role in retirement planning. Health and financial behaviors are correlated among retirees, and positivity drives savings behavior. Annuities provide a license to spend and allow retirees to spend more from income than from assets. Aligning money with values and goals can lead to greater happiness in retirement. Sound Bites "What is wealth? Wealth is a store of future spending. It is a store of future happiness." "The goal is lifestyle. That's why you save the money in the first place. Let's design a structure so that you can have the lifestyle that you want to live." "Recognize that you had a choice and your choice was: Do I want to spend the money that I've saved that I've sacrificed to be able to build or am I going to be happier passing it on to someone else?" "How we view retirement and how positive we are about our years going forward is going to shape the way we want to spend our money." "People who think that life is going to be more pleasurable in their 80s are more motivated to ensure that they still have income in their 80s." "Annuities give you the ability to spend more every year and never feel bad about it." Chapters 00:00  Introduction and Background 03:23 The Connection Between Retirement, Health, and Wealth 07:58  Balancing Spending and Legacy Goals in Retirement Income Planning 11:25   Recognizing Mortality and Designing a Plan for a Better Lifestyle 15:37  Bringing Forward the Ability to Give in Retirement 24:15  Envisioning the Future and Designing a Retirement Plan 26:45 The Role of Mindset and Positivity in Retirement Planning 28:12 The Correlation Between Health and Financial Behaviors in Retirement 35:10 The Benefits of Annuities as a License to Spend 42:20 Aligning Money with Values and Goals for Greater Happiness in Retirement Links License to spend whitepaper Michael Finke Website

Summary  Money and happiness expert Ken Honda is a bestselling self-development author in Japan, with book sales surpassing eight million copies since 2001. His first English language book, “Happy Money: The Japanese Art of Making Peace With Your Money” (June 2019, Simon & Schuster), is an international bestseller. His new novel is “True Wealth – 9 Lessons From a Grandfather on Happiness and Abundance” (​​May 14, 2024, Hay House). Learn more at KenHonda.com. In this episode Ken Honda discusses the concept of true wealth, which goes beyond material abundance and includes intangible assets such as trust, bonding, love, and friendship. He emphasizes the importance of creating precious memories and highlights the need to redefine wealth as we approach retirement. Ken also explores the power of intuition in decision-making and shares three steps to tap into our intuition. He discusses coping with anxieties and fears around money and retirement, suggesting that facing fear head-on can lead to personal growth and new opportunities. Ken encourages listeners to find their Ikigai, their life purpose, and to make choices that align with their passions and values. He also emphasizes the importance of cultivating a positive relationship with money and using it as a tool to bring joy and happiness in retirement. Takeaways True wealth goes beyond material abundance and includes intangible assets such as trust, bonding, love, and friendship. Creating precious memories is more important than accumulating material wealth. Facing fears and taking risks can lead to personal growth and new opportunities in retirement. Finding your Ikigai, your life purpose, and making choices that align with your passions and values is crucial in retirement. Cultivating a positive relationship with money and using it as a tool to bring joy and happiness in retirement is essential. Sound Bites "True wealth is something that you cannot see. It's invisible assets like trust, bonding, love, and friendship." "There's always some kind of guiding force to just take us to something very important." "If you can face your fear, you will be less afraid of taking more steps, taking more risks." Chapters 00:00 Introduction and the Concept of True Wealth 06:03 The Power of Intuition in Decision-Making 09:25 Coping with Anxieties and Fears in Retirement 15:30 Finding Your Ikigai in Retirement

Summary Suzi is a certified co-active coach and has made it her mission to understand the process of personal and professional transitions and the challenges that come with them. She is passionate about working with clients to help see them through and make a pathway for the life the want to experience  In our conversation Suzi encourages people planning for or already living in retirement to step back and reflect on who they are and what they truly enjoy, as well as the significance of having a positive attitude and choosing to thrive in retirement.   We discuss the differences between men and women in retirement, particularly in terms of social connections and expectations, whilst also exploring why communication and setting expectations are crucial for couples transitioning into retirement.   In Suzi's opinion retirement is a multifaceted life transition that requires deep introspection and consideration of various aspects of life. Her retirement wheel is a tool that helps individuals visualize and address different areas of their life, including spiritual well-being, family and friends, partnership and love, health and fitness, and fun play and travel (a free download of this is available in the show notes).   And finally, Suzi talks about why she believes it is important to approach retirement with curiosity and a sense of wonder, remaining open to new experiences and learning opportunities and how Retirement should not be seen as the finish line, but rather as a new beginning that requires ongoing adaptation and planning.  Takeaways Retirement is an opportunity to repurpose one's life and find new meaning and purpose. Taking the time to reflect on who you are and what you enjoy is essential during the retirement transition. Having a positive attitude and choosing to thrive in retirement can lead to a more fulfilling experience. Men and women often have different challenges and expectations in retirement, particularly in terms of social connections. Communication and setting expectations are crucial for couples transitioning into retirement. Retirement is a time for deep introspection and consideration of various aspects of life. The retirement wheel is a helpful tool for visualizing and addressing different areas of life in retirement. Approach retirement with curiosity and a sense of wonder, remaining open to new experiences and learning opportunities. Retirement should be seen as a new beginning that requires ongoing adaptation and planning. Sound Bites "I love helping people to repurpose." "Retirement is an outdated concept." "Retirement is a chance to repurpose what life means." "It's a retirement wheel that can help people visualize all the pieces, because it's not just a financial piece as we have so declared here." "How are you in your spiritual peace and will you give yourself time for that peace?" "Retirement will evolve greatly. You can't pretend it's not going to." Chapters 00:00 Introduction and Background 03:27 The Changing Landscape of Retirement 06:01 Repurposing Your Life in Retirement 07:49 Choosing a Positive Attitude in Retirement 09:33 Preparing for Retirement: Mindset and Expectations 12:28 Thriving in Retirement: Shifting from Surviving to Thriving 15:16 Gender Differences in Retirement 24:17 The Retirement Wheel: Visualizing and Addressing Different Areas of Life 33:25 Retirement: A New Beginning Requiring Adaptation and Planning 36:42 Retirement as a Complex Problem Requiring Consistent Adaptation 39:20 Mourning the Ending and Having Gratitude for Your Career

Summary David is Managing Director, Portfolio Manager, and Head of Retirement Research for PGIM DC Solutions. In this role, he develops solutions to help improve retirement outcomes for investors with a specific focus on defined contribution plans. Prior to joining PGIM he was the Head of Retirement Research for Morningstar Investment Management LLC and before that the Director of Consulting and Investment Research for the Retirement Plan Consulting Group at Unified Trust Company.  In this episode David and I discuss retirement planning and income generation. He emphasizes the importance of understanding the cost of retirement and the need to start planning early. Retirement is a complex and individualized process, and the traditional concept of retirement is evolving, David suggests using the term 'financial independence' instead.   He also challenges the 4% rule for retirement withdrawals, suggesting that a personalized approach is necessary because flexibility in retirement income planning is crucial, as it allows for adjustments in spending based on changing circumstances. He also talks about why holding cash can provide both economic and behavioural benefits in retirement portfolios.   Other highlights of our conversation are where we discuss the need for advisors and coaches in retirement planning, the importance of understanding and addressing regret risk, the value of spending money on experiences and giving during retirement, the impact of longevity risk on retirement confidence, the benefits of guaranteed lifetime income in retirement planning and Davids famous Retirement smile concept.   Takeaways Understanding the cost of retirement and starting planning early are crucial for financial security in retirement. The traditional concept of retirement is changing, and 'financial independence' may be a more appropriate term. The 4% rule for retirement withdrawals may lead to underspending and regret, and a personalized approach is necessary. Flexibility in retirement income planning allows for adjustments in spending based on changing circumstances. Holding cash in retirement portfolios can provide both economic and behavioral benefits. Advisors and coaches play a crucial role in retirement planning by providing accountability and helping individuals understand their blind spots. Regret risk, or the regret of not doing more during retirement, is an often overlooked risk that can impact the fulfillment of the second half of life. The fear of spending money in retirement and the transition from a savings mindset to a spending mindset can hinder individuals from enjoying their retirement and lead to inefficient spending. Longevity risk, or the risk of outliving one's savings, is a significant concern in retirement planning, and there is a need for greater longevity literacy. Guaranteed lifetime income can help address longevity risk and provide individuals with the confidence to spend money on experiences and give during retirement. The retirement smile, where real-time spending falls during the early years of retirement and may increase slightly in later life, challenges the assumption that spending increases with inflation every year. Sound Bites "Retirement is the most expensive purchase most people will ever make." "Retirement is radically changing for everyone, what it means to retire, what it means to keep working, how long you're gonna live, what your activity level is gonna be." "The 4% rule will lead people into a retirement of underspending and regret." "We are not the person that's receiving the advice or coaching, right?" "If we create one of those [retirement plans] that's got a hundred percent success rate, i.e. we're telling you that you're never going to run out of money. That to me is a hundred percent failure on living a fulfilled second half of life." "It's just really, really hard to spend down this pool of assets when you don't know how long you're gonna live, you know what the markets are gonna do and you don't wanna go back to work." Chapters 00:00 Introduction and Background of David Blanchett 03:02 Understanding the Cost of Retirement 08:12 The Changing Nature of Retirement 12:33 Challenging the 4% Rule for Retirement Withdrawals 19:49 The Benefits of Holding Cash in Retirement Portfolios 26:56 The Role of Advisors and Coaches 28:19 The Overlooked Risk of Regret 30:06 Overcoming the Fear of Spending 35:28 Understanding and Addressing Longevity Risk 39:39 The Benefits of Guaranteed Lifetime Income 47:01 The Retirement Smile: Challenging Assumptions

Summary Today's conversation is with the Dr of Happiness, Dr Andy Cope. Andy is a wellbeing expert, best-selling author and in his words a recovering academic. He specialises in positive psychology and the science of human flourishing. The reward for grinding out his Loughborough PhD is that he gets to call himself a Dr of Happiness. If you put the cheesy title to one side, Andy believes there has never been a more important time to focus on mental health and wellbeing. He has been described as a ‘wellbeing revolutionary' and his mission is to change the narrative and re-focus psychology away from what's wrong with people to what's right. His messages act as a gentle nudge towards people taking charge of their own mental health. Andy's books are frequently on the best-sellers list. ‘The Art of Being Brilliant', ‘Shine', and ‘Zest' have all topped the personal development charts. ‘The Little Book of Emotional Intelligence' and Leadership: Multiplier Effect' are riding high in the business charts and ‘Happiness Route Map' was nominated as The Independent's best self-help book of the year. Andy also moonlights as a children's author. His ‘Spy Dog' series has sold in excess of a million copies worldwide. In this conversation Andy and I discusses the importance of focusing on wellbeing and happiness, especially during retirement. He explains that traditional psychology has primarily focused on fixing mental health issues rather than promoting wellness. Andy emphasises the need to shift the focus to happiness and flourishing, and shares insights from positive psychology. He highlights the significance of living in the present moment and finding contentment in simple experiences and positive relationships. Andy also challenges the notion of retirement as a destination for happiness and encourages individuals to prioritize their wellbeing throughout their lives. Andy emphasises the need to focus on mental wealth and living one's best life. Andy shares his journey of accidentally stumbling upon the science of living a happier life and the intentional strategies that happy people employ. They also discuss the power of reframing internal and learned beliefs and the challenge of unlearning bad habits. He highlights the importance of saying yes to growth and new experiences, as well as saying no to things that don't bring joy. They also touch on the significance of quality relationships, being present, and the negative impact of social media on happiness. Takeaways Traditional psychology has primarily focused on fixing mental health issues rather than promoting wellness. Positive psychology emphasizes the importance of happiness and flourishing. Finding contentment in simple experiences and positive relationships is key to living a fulfilling life. Retirement should not be seen as the sole destination for happiness; it is important to prioritize wellbeing throughout life. Wellbeing and happiness should be prioritized in retirement, as they contribute to a fulfilling life. Positive psychology can help reframe internal and learned beliefs, leading to a happier mindset. Unlearning bad habits and letting go of negative thoughts and behaviors is essential for personal growth and happiness. Saying yes to growth and new experiences, and saying no to things that don't bring joy, can enhance happiness in retirement. Quality relationships and being present in the moment are key determinants of happiness. The negative impact of social media on happiness should be recognized, and time spent on it should be reduced. Sound Bites "There are people out there with a smile on their face and a spring in their step." "Positive psychology is about equipping people with the knowledge and skills to take care of their own mental health and wellbeing." "The happiest moments in life are often simple experiences with loved ones." "They don't talk about wellbeing in a way that they should absolutely talk about wellbeing." "Living your best life and being your best self wasn't a thing." "The biggest barrier to me feeling amazing was actually me." Chapters 00:00 Introduction and Andy's Journey to Becoming the Doctor of Happiness 09:03 The Importance of Wellbeing and Happiness 16:02 Shifting the Focus to Happiness and Flourishing 23:06 Retirement: A Journey of Wellbeing and Happiness 24:25 Prioritizing Wellbeing and Happiness in Retirement 28:12 The Power of Reframing Beliefs and Unlearning 32:08 Saying Yes to Growth and No to Unwanted Obligations 36:48 The Importance of Quality Relationships and Being Present 40:54 The Negative Impact of Social Media on Happiness Links The Art of Brilliance Humans Vs Retirement  Let's talk about your retirement!  

About Stephanie Stephanie founded Sofia Financial in 2011 after 14 years as a financial advisor, with the goal to empower women to make wise financial decisions and reduce their money stress. In her early years she encountered too many women who found finances and investing so intimidating that they either outsourced money decisions to a man in their lives (sometimes with disastrous consequences), or relied on “professionals” who too often focused more on their own paycheck than providing true education and guidance. Financial planning plays into Stephanie's love of hearing people's stories, and understanding and explaining complex topics clearly. She is passionate about helping more women find and succeed on this career path. Summary Stephanie McCullough, founder of Sophia Financial and host of the Take Back Retirement podcast, discusses the challenges women face when planning for retirement. She shares her journey of entering the financial industry and focusing on helping women with their retirement planning. Stephanie emphasizes the importance of empowering women to take control of their finances and make informed decisions. She highlights the unique challenges women face in retirement, such as the dominance of the male spouse in financial decisions and the need for women to take the reins after divorce or the death of a spouse. Stephanie encourages open conversations and non-judgmental support to help women navigate these challenges and create a fulfilling retirement. In this conversation, Stephanie and I discuss the challenges women face in the financial planning industry and how they can take control of their retirement. We explore the dominance of men in financial meetings, the importance of meaningful money conversations, and the need for both spouses to be involved in financial planning. They also discuss the impact of social connections on retirement happiness and how women can build and maintain strong social networks. The conversation concludes with advice for women to pay attention to their feelings around money and find a money buddy to share and learn together. Takeaways Women often face unique challenges when planning for retirement, such as the dominance of the male spouse in financial decisions. Divorce and the death of a spouse can significantly impact a woman's retirement plans and financial decisions. Open conversations and non-judgmental support are crucial in helping women navigate these challenges and make informed decisions. Empowering women to take control of their finances and plan for retirement can lead to a more fulfilling and secure future. Women often face challenges in the financial planning industry, with men dominating meetings and focusing on investments rather than meaningful money conversations. Both spouses should be involved in financial planning to ensure transparency and avoid financial abuse. Social connections and networks are crucial for retirement happiness, and women are often better at building and maintaining these connections. Women should pay attention to their feelings around money and find a money buddy to share and learn together. Women can take control of their retirement by being intentional, exploring different opportunities, and finding their own identity and purpose. Sound Bites "There's got to be a way to have a more meaningful conversation with women." "Retirement is the opportunity to figure out exactly what you want to do with your time and go do it." "Open up conversations about retirement between couples to ensure both partners' needs and desires are considered." "There's often a dominance about... the man has done this and they often kind of... dragged them along to the meeting and... they open up the meeting and they're dominant in it." "How can we have a different money conversation? How can we have something that's actually meaningful and relatable? How can we make this money actually interesting?" "A lot of women have that impression because that's the experience they've had in the financial advisor offices." Chapters 00:00 Introduction and Stephanie's Journey 06:20 Why Focus on Women Planning for Retirement? 10:25 Challenges Women Face in Retirement 16:26 Navigating Retirement After Divorce 28:27 The Impact of Grief on Retirement Plans 30:52 The Importance of Meaningful Money Conversations 35:12 Building and Maintaining Social Connections 44:08 Paying Attention to Feelings Around Money 51:48 Taking Control of Retirement Links Take Back Retirement Podcast Sofia Financial    

Summary Jamie was a professor at The American College and Director of the New York Life Center for Retirement Income. He is a well-recognized writer, speaker and thought leader in the area of retirement income planning. His most recent book, “Rewirement: Rewiring The Way You Think About Retirement,” details the behavioral finance issues that hold people back from a more financially secure retirement. Jamie's impact on retirement planning has been well recognized as he has been named as both a top 40 financial services professional under the age of 40 by InvestmentNews and a top 40 young attorney under the age of 40 by The American Bar Association. In this episode Jamie and I discuss the need to rewire the way we think about retirement and challenge the assumptions underlying retirement planning. He emphasizes the importance of adapting spending habits in retirement and the need to minimize regret risk. Jamie also highlights the concept of self-insuring in retirement and the tendency to hold onto money due to fear of unknown future events. He suggests adopting a guardrails approach to spending and focusing on adaptive spending rather than a binary view of success or failure in retirement. They highlight the need for a more realistic approach to retirement income planning that takes into account the trajectory of spending and the magnitude of failure. They also emphasize the importance of financial literacy and education in retirement planning, as well as the potential benefits of equity release strategies. Takeaways Retirement planning requires rewiring the way we think about retirement and challenging assumptions about saving and spending. Adapting spending habits in retirement is crucial for a fulfilling and successful retirement. Self-insuring in retirement can lead to holding onto money and not being able to spend it, limiting the enjoyment and fulfillment of retirement. Adopting a guardrails approach to spending and focusing on adaptive spending can help minimize regret risk and create a more flexible retirement plan. Retirement planning models often overlook the trajectory of spending and the magnitude of failure, leading to unrealistic expectations. Financial literacy and education are crucial in retirement planning, as individuals need to make informed decisions based on their knowledge and experiences. Equity release strategies, such as downsizing or reverse mortgages, can be valuable tools in retirement income planning and should be considered as part of a comprehensive financial plan. Individuals should start their retirement planning by identifying their aspirations and using them as a guide for their financial plan, ensuring that their retirement is fulfilling and aligned with their goals. Sound Bites "People need to rewire the way they think about retirement." "The biggest challenge is that everybody thinks retirement is the same phase in life, and we treat it the same." "Self-insuring is holding onto money for unknown future events, which limits spending in retirement." "That's a 50% chance that you're going to underspend crucially." "Why do we talk about anything as success and failure? Because it's actually only partial failure anyway." "There is a framework of flexibility in retirement spending." Chapters 00:00 Introduction and Warm Welcome 06:38 Jamie Hopkins' Journey to Retirement Planning 09:00 Rewiring the Way We Think About Retirement 27:07 The Benefits of a Guardrails Approach to Spending 32:53 The Flaws in Retirement Planning Models 37:40 The Importance of Flexibility in Retirement Spending 42:47 The Role of Financial Literacy and Education in Retirement Planning 53:54 The Benefits of Equity Release Strategies 01:00:14 Starting Retirement Planning with Aspirations Links Jamie's Book - Rewirement: Rewiring The Way You Think About Retirement!

Summary Derek Hagen is the founder of Money Health Solutions®️, a financial therapy and life planning firm. Money Health Solutions helps clients live intentionally and mindfully, using money as a tool to support their ideal life. He facilitates financial health by helping clients understand their own money psychology, lowering financial stress, and increasing confidence in financial decisions. Derek also started Meaningful Money Memo, a newsletter about the psychology of money and living a meaningful life, using personal stories and simple drawings to help demystify money for readers. He shares his journey from being a Chartered Financial Analyst and a focus on numbers to then having the big realisation that money is a tool not a goal which lead to focusing on the interior side of money and helping people find purpose and significance. In this conversation, we discuss the importance of mindset and intention when it comes to retirement planning. Derek emphasizes the need to have a purpose and a value statement to guide financial decisions and prioritize experiences over accumulating wealth. We also discuss the significance of time and the finite nature of life, encouraging people to be present and intentional in their retirement years. Importantly Derek highlights the importance of creativity and designing a life that aligns with personal values and priorities.  Takeaways Money is a tool, not a goal, and should be used to create a meaningful retirement. Diversification of meaning in retirement is crucial to avoid relying on a single source of purpose and significance. Planning for life beyond retirement is essential and often overlooked. Retirement is not a finish line, but a new phase of life that requires structure and purpose. Having a purpose and value statement is crucial for guiding financial decisions in retirement. Being present and intentional with time is important, as life is finite and experiences have a limited number of opportunities. Retirement planning should focus on designing a life that aligns with personal values and priorities. Creativity and a designer mindset are essential for planning and living a fulfilling retirement. Systems, rather than goals, allow for flexibility and adaptability in navigating life transitions and unexpected events. Sound Bites "Money is a tool, not a goal." "Diversification of meaning in retirement is crucial." "Retirement is not a finish line." "You know, that reality check in and, ⁓ and I think unless you can work with someone that can bring this out of you, or you can naturally bring this out of you, you end up reverting back to the mean, don't you?" "Yeah, absolutely. And that's the thing with habits. If we get into our ⁓ habits, we get into what we're familiar with. And this is a pretty big, retirement's a pretty big life transition." "The retirement that I think the 50 to 60 year olds have witnessed in their parents and their grandparents is and was materially different to the retirement that they're entering into." Chapters 00:00 Introduction and Background 09:21 Money as a Tool, Not a Goal 15:57 Money's Role in Retirement 26:11 The Importance of Planning for Life Beyond Retirement 29:19 Retirement: Not a Finish Line, but a New Phase of Life 31:20 The Importance of Purpose and Value in Retirement Planning 32:03 Being Present and Intentional with Time in Retirement 33:42 Designing a Life that Aligns with Personal Values 38:45 The Role of Creativity in Retirement Planning 52:32 Systems vs Goals: Focusing on Inputs and Intentions Links Meaningful Money    

Summary Eric is the founder and CEO of BFG Financial Advisors a large financial planning business in Baltimore, USA that specialises in retirement planning. As well a writing his book Eric hosts a podcast by the same name and id a regular contributor to forbes.com and Sunday morning TV in Baltimore In this conversation Eric and I discuss the concept of retirement as a graduation and the need to redefine retirement as an opportunity for growth and exploration. Eric highlights the significance of having an abundance mindset and being open to reinventing oneself in retirement.  Eric shares the three secrets to the happiest retirees: being debt-free, taking care of your health, and having a sense of purpose. Takeaways Retirement should be seen as a graduation and an opportunity for growth and exploration. Financial independence is key to a fulfilling retirement, and it is important to plan for it early in life. Having an abundance mindset and being open to reinvention can lead to a more fulfilling retirement. Financial literacy is crucial in achieving financial independence and making informed decisions. The fear of running out of money in retirement can be alleviated by working with a financial advisor and having a well-thought-out plan. The three secrets of the happiest retirees include embracing a second childhood, cultivating wisdom and mindset, and finding purpose and identity in retirement. Being debt-free or adverse debt-free is important in retirement to reduce anxiety and ensure a peaceful retirement. Taking care of your health is crucial, as it is easier to stay healthy than to get healthy. Having a sense of purpose gives retirees a reason to get out of bed every morning and brings fulfilment to their lives. Retirees should plan and have intention in their retirement to ensure a smooth transition and make the most of their time. Chapters 00:00 Introduction and Background 06:03 Redefining Retirement as a Graduation 09:25 Embracing a Second Childhood 14:10 Compounding Mindset and Wisdom 19:25 Finding Purpose and Identity in Retirement 23:21 The Emotional and Psychological Challenges of Retirement 28:20 The Importance of Financial Literacy 35:25 The Fear of Running Out of Money in Retirement 37:47 Achieving Financial Independence without Being Good with Money 42:56 The Three Secrets of the Happiest Retirees 43:05 The Three Secrets to the Happiest Retirees 44:05 Taking Care of Your Health 45:01 Having a Sense of Purpose 46:44 Debt and Financial Freedom 48:29 The Importance of Good Health 49:26 The Value of Purpose in Retirement 50:23 The Inflation Rate for Retirees 52:13 Planning and Intention in Retirement 53:10 Finding a Sense of Purpose in Retirement 54:08 What Financial Freedom Looks Like Episode Links & Resource Buy Eric's book Don't Retire… Graduate! Listen to Eric's Podcast Connect with Eric on LinkedIn WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter  

Summary In this episode, Ed Coambs, a financial planner, and therapist, discusses the challenges couples face in managing money and planning for retirement. He shares his personal journey from being a firefighter to becoming a financial planner and therapist. Ed emphasizes the importance of understanding one's own relationship with money and how it impacts relationships. He introduces the concept of financial intimacy and explains how it can help couples navigate the complexities of retirement planning. Ed also highlights the role of attachment theory in understanding couples' dynamics around money. In this conversation, Ed and I discuss the challenges couples face when transitioning from work to retirement and how financial therapy can help. He emphasises the importance of creating a safe space for vulnerability and open communication. He also explores the influence of childhood experiences on money management and the challenge of spending money in retirement. Our conversation highlights the need for balance in money management and the role of financial therapy in helping couples live a happy and fulfilling retirement. Takeaways Understanding one's own relationship with money is crucial for successful financial planning and healthy relationships. Couples often have different expectations and visions for retirement, which can lead to conflicts and challenges. Financial intimacy, where both partners are actively involved in financial decision-making and have open and honest conversations about money, is essential for a harmonious retirement. Attachment theory can provide insights into individuals' behaviours and attitudes towards money and relationships. Couples often struggle to transition from work to retirement and may find it difficult to let go and enjoy the fruits of their labour. Creating a safe space for vulnerability and open communication is crucial for couples to navigate retirement successfully. Childhood experiences play a significant role in shaping individuals' attitudes and behaviours towards money. Spending money in retirement can be a psychological challenge, and finding a balance between spending and saving is essential. Financial therapy can help couples address their money-related issues and create a healthy and fulfilling retirement. Chapters 00:00 Introduction and Background 06:15 The Journey to Financial Therapy 10:35 The Healthy Love and Money Way 23:34 The Importance of Financial Intimacy 28:00 The Struggle to Transition from Work to Retirement 32:38 Creating a Safe Space for Vulnerability 35:12 The Influence of Childhood Experiences on Money 38:18 The Challenge of Spending Money in Retirement 44:07 The Importance of Balance in Money Management 51:08 The Role of Financial Therapy in Retirement Episode Links & Resources Go see Ed's Website Buy Ed's book The Healthy Love and Money Way Listen to Ed's Healthy Love and Money Podcast Check out Ed's Online Courses for Couples Connect with Ed on LinkedIn Connect with Ed on X WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter

Summary Have you ever herd of ‘the sandwich generation'? Are you part of it? And if so, what challenges does it bring to your retirement? Well. In this episode I get to have a conversation with a guy that has literally wrote the book on the subject! Mark Bineham is one of Australia's top keynote speakers on retirement and the award-winning author of 'The Money Sandwich”. Mark's goal has always been to help people live their very best life through positive mindset, promoting well-being and simply achieving financial freedom that much sooner, because in his words “we all deserve that, don't we?. In 2019, a turning point occurred in his life when he underwent open-heart surgery. Prompting a re-evaluation of his 30-year career as a financial advisor, including four years as the national president of the Association of Financial Advisers. While he always loved helping his own clients reach their goals and aspirations, he realised most people just couldn't afford help or advice, and that had to change. That's when he decided to pour all the knowledge he gained over his career into a book, which he proudly titled The Money Sandwich and subsequently setting up a family business with his Daughter Katherine by the same name which enables him to take this message out to the wider world through presentations, workshops and courses. In this thought-provoking conversation Mark and I discuss the challenges faced by the sandwich generation, who are responsible for supporting both their adult children and aging parents. Mark emphasizes the importance of having conversations about retirement and estate planning with your elderly parents and adult children. He also introduces the concept of the 'third act' as a more positive and fulfilling way to approach retirement and highlights the need for mindset shifts and an understanding of the emotional aspects of money in order to achieve happiness in retirement. Our conversation explores changing attitudes towards work and retirement, the negative connotations of money, the impact of financial stress on productivity and health, the importance of talking about money, the value that financial planning professionals add at this stage of life, and what financial freedom looks and feels like. Takeaways The sandwich generation faces the challenge of supporting both adult children and aging parents. Having conversations about retirement and estate planning with elderly parents is crucial to avoid future conflicts. The 'third act' is a more positive and fulfilling way to approach retirement. Understanding the emotional aspects of money is essential for achieving happiness in retirement. Younger generations are redefining work-life balance and are more focused on enjoying life. Financial stress is a major cause of anxiety, arguments, and relationship breakdowns. Financial stress negatively affects productivity in the workplace. Talking about money and seeking professional help can alleviate financial stress. Financial planning professionals can provide guidance and support in managing money and achieving financial freedom. Chapters 00:00 Introduction and Background 05:25 Unleashing Your Third Act 08:34 The Money Sandwich and the Sandwich Generation 14:30 Challenges of Supporting Adult Children 22:35 Challenges of Supporting Aging Parents 29:24 Reframing Retirement as the Third Act 38:44 Money Shifts for Happiness 45:31 Changing Attitudes Towards Work and Retirement 47:00 The Negative Connotations of Money 48:31 Financial Stress and its Impact on Productivity and Health 49:30 The Importance of Talking About Money 50:52 The Need for Financial Planning Professionals 53:51 What Financial Freedom Looks Like Episode Links & Resources Get Marc's brilliant book The Money Sandwich Listen to The Money Sandwich Podcast Visit The Money Sandwich website Connect with Marc on LinkedIn Connect with Marc on X WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter

Summary Christine is director of personal finance and retirement planning for Morningstar, Inc. In that role, she focuses on retirement and portfolio planning for individual investors. She also co-hosts a podcast for Morningstar, The Long View, which features in-depth interviews with thought leaders in investing and personal finance. and I was honoured to be asked to be a guest on last year (link in the show notes). She is a prolific writer and her published Morningstar articles are must reads for anyone interested in retirement planning.  In this episode, Christine and I cover a lot of ground! We discuss various aspects of retirement planning, including blind spots, sequence risk, inflation, the bucketing approach to income management, the importance of continuing to work, and lessons for a happy and successful retirement. Christine emphasizes the need to consider both financial and non-financial aspects of retirement and to make choices that align with personal happiness and purpose and also highlights the value of working with a financial planner to navigate the complexities of retirement planning. Takeaways Retirement planning should consider both financial and non-financial aspects, such as happiness, purpose, and social connections. Blind spots in retirement planning include sequence risk, inflation, and unexpected spending shocks. A bucketing approach to retirement income can help manage sequence risk and ensure liquidity for short-term needs. Continuing to work in retirement can provide financial security, social connections, and a sense of purpose. Spending in line with personal happiness and avoiding regrets are key considerations in retirement planning. Working with a financial planner can help navigate the complexities of retirement planning and ensure a successful retirement. Retirement planning is crucial for financial security in later years. Common mistakes in retirement planning include underestimating expenses and not starting early enough. Financial advisors can provide valuable guidance and expertise in retirement planning. Behavioural biases can negatively impact retirement planning decisions. Seeking outside help, such as financial advisors or experts, can help identify blind spots and provide a fresh perspective. Chapters 00:00 Introduction and Background 07:15 The Blind Spots of Retirement 13:38 Mitigating Sequence Risk and Inflation 17:47 Bucketing Approach to Retirement Income 25:26 The Importance of Continuing to Work in Retirement 35:37 Lessons for a Happy, Successful, and Wealthy Retirement 38:20 Spending to Optimize Happiness 40:26 Living Life with No Regrets 48:15 The Value of Working with a Financial Planner 10:32 Common Retirement Planning Mistakes 23:45 The Role of Financial Advisors in Retirement Planning 34:56 The Impact of Behavioral Biases on Retirement Planning 43:21 The Value of Seeking Outside Help 51:09 Blind Spots and the Importance of Outside Perspective Episode Links & Resources Pre-order Christine's book How to Retire: 20 Lessons For A Happy, Successful & Wealthy Retirement Read all of Christine's brilliant stuff on retirement and investing Subscribe to her podcast The Long View Listen to my appearance on The Long View Podcast Connect with Christine on LinkedIn Connect with Christine on X WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter

Summary Paul is the founder of Inspiring Advisers, a lifestyle financial planning training programme and Life Centred Planners, a fast-growing global community of advisers from around the world who believe that it is time to put the client and not their money at the centre of their plans. Paul is also the author of the brilliant book Enough?: How much money do you need for the rest of your life. A book that we give out to for free and has had such an impact on many of our clients.  Paul began life as a financial planner back in 1982 and in 1990 he was one of the very first to see the light and start the movement of what is now known as lifestyle financial planning, focusing on the human and not their money. As well as helping and inspiring many financial advisers across the globe, Pauls overarching mission is to educate and change the lives of people by showing them the REAL benefits of how lifestyle financial planning can help them live their best life. In this episode, Paul and I talk about his wake-up call, when his mother passed away suddenly, leading him to realize that life is not a rehearsal. He shifted his focus to lifestyle financial planning, putting life at the centre of financial plans. Paul emphasizes the importance of understanding how much is enough and helping clients live a great life now. He also discusses the three types of people when it comes to retirement planning: not enough, got too much, and just right. Paul discusses the importance of redefining retirement as financial independence and freedom ant that true financial independence means having the choice to work or start a business because you want to, not because you have to. Paul encourages everyone to pursue new opportunities and passions during this retirement with the idea of leaving behind memories and experiences, rather than just money. Takeaways Life is not a rehearsal, and it's important to live a great life now. Financial planning should revolve around a client's life and desired lifestyle, not just financial products. Understanding how much is enough is crucial for financial planning. Many people worry about money when they will be financially okay. The financial services industry often focuses on fear and insecurity, but real financial planning should provide peace of mind and freedom. Financial independence means having the freedom to choose whether to work or not. Redefine work and find purpose in retirement by pursuing new opportunities and passions. Focus on leaving memories and experiences, not just accumulating wealth. Craft a lifestyle financial planning message that emphasizes the connection between life and money. Chapters 00:00 Introduction and Impact of the Book 01:27 Paul's Journey and Frustration with the Financial Services Industry 04:22 The Wake-Up Call: Paul's Mom's Death 06:45 Realizing Life is Not a Rehearsal 09:05 The Concept of Time and Aging 11:27 The Shift to Lifestyle Financial Planning 13:48 The Book 'Enough' and Putting Life at the Center of Financial Plans 19:33 Retirement and Understanding the Concept of Time 21:51 The Three Types of People: Not Enough, Got Too Much, Just Right 47:28 Financial Independence and Freedom 48:23 Redefining Work and Purpose 49:13 Exploring New Opportunities in Retirement 50:08 Leaving Memories and Experiences, Not Just Money 51:30 Crafting a Lifestyle Financial Planning Message 53:02 Understanding What You Want and Don't Want 54:29 Maintaining Your Current Lifestyle 55:00 Planning for Your Future 55:30 Spreading the Message of Financial Planning Episode Links & Resources Download for FREE a copy of Paul's book Enough? Connect with Paul on LinkedIn Connect with Paul on X WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter

Summary Jonathan Clements is the founder and editor of Humble Dollar and brilliant free blog site that is dedicated to providing articles, guides and resources from some of the greatest thinkers in the world of finance. The goal of Humble Dollar is to tell you everything you need to know about money – all in one place without the hype and hollow promises that characterises so much financial writing. Jonathan was born and educated in England before moving to the states and prior to semi-retiring and launching humble dollar in 2014, Jonathan spent almost 20 years as The Wall Street Journal's personal finance columnist and six years at Citi group where he was director of financial education for the banks US wealth management arm. He is also the author of 9 personal finance books. In this episode, Jonathan and I discusses the challenges and risks in retirement, both from a financial and human standpoint. He focuses on the need to have sense of purpose and identity in retirement, which he believes can be overcome by continuing to work in some fashion. Jonathan also explores the concept of embracing a second childhood, allowing for childlike curiosity and exploration. He emphasises the importance of experimenting in early retirement to discover what truly makes one happy. Jonathan also discusses his work with Humble Dollar and the ventures that provide him with a sense of purpose. Takeaways Longevity risk is a significant financial challenge in retirement, and individuals should consider guaranteed income options such as annuities. Investing in the stock market can help retirees combat inflation and grow their wealth over time. Working in retirement provides not only financial benefits but also a sense of purpose, identity, and social interaction. Retirees should focus on their own financial goals and avoid comparing themselves to others. Retirement can be a time of exploration and curiosity, allowing individuals to embrace a second childhood and pursue new interests and passions. Transitioning to retirement can be a unique experience depending on one's life circumstances. Early retirement is a period of experimentation to find activities that bring fulfilment. Financial stability and a sense of purpose are key factors in enjoying retirement. Chapters 00:00 Introduction and Background 04:05 Financial Challenges and Risks in Retirement 11:02 Investing in Retirement 21:28 The Importance of Working in Retirement 28:36 Generating Income in Retirement 38:02 The Importance of Identity and Purpose in Retirement 45:45 Avoiding Comparisons in Retirement 48:12 Embracing a Second Childhood in Retirement 48:30 Transitioning to Retirement 49:23 Experimenting in Early Retirement 50:35 Finding Fulfilment in Retirement 52:03 Humble Dollar and Jonathan's Work 53:16 Closing Remarks Episode Links & Resources Humble Dollar Jonathan's book My Money Journey: How 30 people found financial freedom – and you can too Jonathan's book From Here to Financial Happiness: Enrich Your Life In Just 77 Days Connect with Jonathan on LinkedIn Connect with Jonathan on X WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter

Summary In this episode of The Humans vs Retirement Podcast, I sit down with Jack Chellman, Chief Project Officer of the Global Returns Project a UK charity that is on a mission to create systemic change to fund the highest impact climate charities and make giving toward climate change as easy and accessible as possible. Jack and I discuss how charitable giving could and maybe should form part of every retirement plan. Jack also dispels many myths about giving and explains how the Global Returns Project makes charitable giving easy and transparent by selecting high-impact climate charities and providing rigorous monitoring and reporting. The portfolio of charities includes organizations that protect rainforests, enforce environmental law, conserve marine life, and restore forests. Jack emphasizes the need for increased philanthropy towards climate mitigation efforts and highlights the role of the Global Returns Project in making sustainable giving mainstream. He also discusses the integration of the project into financial planning and the options for donating. We explore the impact of climate change, individual actions to combat it, and the role of governments and corporations in addressing the issue. Our conversation highlights the importance of taking meaningful action to combat climate change and emphasizes the potential for positive change if everyone contributes. Takeaways Charitable giving can be an important part of a retirement plan, allowing individuals to make a positive impact on causes that matter to them. The Global Returns Project makes charitable giving easy and transparent by selecting high-impact climate charities and providing rigorous monitoring and reporting. The portfolio of charities recommended by the Global Returns Project includes organizations that protect rainforests, enforce environmental law, conserve marine life, and restore forests. Donating to climate charities is a way to address the urgent issue of climate change and its impact on other important causes. The Global Returns Project can be integrated into financial planning, allowing individuals to allocate a portion of their assets to charitable giving. Climate change is a pressing issue that requires immediate action. Individual actions, such as reducing carbon emissions and adopting sustainable practices, can make a significant impact. Investing in sustainable solutions is crucial for addressing climate change. Governments and corporations play a vital role in implementing policies and initiatives to combat climate change. Taking meaningful action collectively can lead to positive change and make a difference.   Chapters 00:00 Introduction to the Global Returns Project 03:21 Charitable Giving as Part of a Retirement Plan 09:36 Dispelling Myths about Charitable Giving 12:59 Making Charitable Giving Part of Asset Allocation 18:49 The Importance of Transparency and Impact Reporting 23:20 The Limitations of Sustainable Investing 26:45 The Portfolio of Charities and Their Impact 32:34 The Mechanics and Methodology of the Global Returns Project 40:02 Integrating the Global Returns Project into Financial Planning 49:05 How to Donate and Get Involved 05:00 Understanding Climate Change 15:00 The Impact of Climate Change 25:00 Individual Actions to Combat Climate Change 35:00 Investing in Sustainable Solutions 45:00 The Role of Governments and Corporations 51:12 Taking Meaningful Action Episode Links & Resources   The Global Returns Project WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter    

Summary In this episode, I get to have a great conversation with Bec Wilson, author of 'How to Have an Epic Retirement,' to discuss the key themes and pillars of retirement planning. Bec shares her journey into the retirement space and the inspiration behind her book. We discuss the importance of understanding lifespan and healthspan, as well as the financial confidence needed for retirement. Bec emphasizes the need for proactive health management and the role of exercise and diet in healthy aging. The conversation highlights the interconnectedness of time, money, and health in creating an epic retirement. We have a great discussion about the 5 pillars of retirement: time, money, health, happiness, and your home as you age. We delve into the importance of happiness and fulfilment in retirement, emphasising the need for social interaction and meaningful activities. Finally, Bec introduces the five big stages of retirement: pre-euphoria, adjustment, euphoria, post-euphoria, and frailty. Takeaways Social interaction and building relationships are crucial for happiness and fulfillment in retirement. Making informed decisions about housing can help minimize financial risks and maximize retirement enjoyment. The five big stages of retirement are pre-euphoria, adjustment, euphoria, post-euphoria, and frailty. Planning for retirement should include considerations for physical and mental health to maintain independence and minimize time spent in frailty. Chapters 00:00 Introduction and Background 03:00 The Six Pillars of Retirement 24:36 Time: Understanding Lifespan and Healthspan 32:48 Money: Financial Confidence and Planning 39:04 Health: Taking Care of Your Body and Mind 43:32 Pillar 4: Happiness and Fulfillment 47:41 Pillar 5: Your Home as You Age 57:15 The Five Big Stages of Retirement Episode Links & Resources Bec's book How to have an Epic Retirement Bec's Website https://epicretirement.com.au/ Bec's Newsletter https://www.epicretirement.net/ Bec's Podcast https://www.primetimers.net/ WealthGPS – Lifestyle Financial Planning by TFP Download My FREE Retirement Toolkit Subscribe to my Super Sunday Retirement Roundup Newsletter