"Unretired" & Inspired - A Retirement Planning Podcast – Détails, épisodes et analyse

Formerly “Awe-Inspired and Retired”. Welcome to 8000 days.

Caleb and Riley are joined by Michelle Oram who has plans to retire in the next 3 months. Having been employed with the same employer for 23 years, this is going to be a big change.

Learn more about:

• Practical advice on tax-efficient strategies for transferring wealth to the next generation, balancing legacy with personal fulfillment.
• The value of continuing personal growth and exploration in preparing for retirement, from pursuing passions to discovering new interests.
• The importance of staying engaged and relevant in your career, and how this mindset impacts your transition into retirement.

Resources:

• To take the giving while living vs giving at death quiz, email randerson@investordna.ca

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Formerly “Awe-Inspired and Retired”. Welcome to 8000 days.

Caleb and Riley are joined by recent retiree Michelle Lennox.

Michelle recently retired, but it may not appear that way. She is still working and earning an income, she volunteers on boards, works with start-up founders and runs marathons. It’s possible she is more busy now than while working FT.

Speaking with Michelle now, you would think she mastered retirement on her first try, leaving behind her full-time corporate position, without any hiccups or challenges along the way. Unfortunately that wasn’t the case.

Today we get to hear directly from Michelle on how she is navigating her own retirement; from the highs and lows, the challenges, the surprises, to the lessons learned along the way.


Learn more about:

• How retirement offers a unique chance to rediscover old passions and explore new hobbies, enriching your life beyond work.
• Advice from a recent retiree on making the most out of retirement, including how to plan for the future with optimism and purpose.
• How to unwind decades of accumulation thinking to instead have a decumulation mindset so you can spend freely without compromising financial security.

Resources:

• Research Paper: Guaranteed Income: A License to Spend: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3875802
• To take the Maximizer vs Satisficer quiz, email randerson@investordna.ca

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Caleb and Riley are joined by Nan Ives and Lisa Stornaielo, of “The Future of You”, an organization with a mission to help individuals discover their ultimate life in retirement.

Today we are going to make the case as to why you probably need to adopt a framework to help you figure out what your life in retirement will look like. Lisa and Nan are former financial services professionals who, upon taking early retirement, recognized the need for a holistic approach to retirement planning. While many services focus solely on finances, they saw retirement as an opportunity to rebalance not just portfolios, but also lives.

Using design thinking, a methodology centered on understanding real users' needs, they immersed themselves in the pre-retiree experience, gathering insights from over 50 individuals. Combining this with their background in leadership development and career coaching, they've crafted a roadmap aimed at helping retirees find a fulfilling balance of work, leisure, and purpose.

Learn more about:

• How design thinking can revolutionize your perspective on retirement, ensuring it's more than just financial stability.
• How retirees can recapture a powerful sense of purpose and direction in their post-professional lives.
• The benefits and potential pitfalls of 'reTRYment' and the importance of diversifying your passions and interests.

Resources:

• Website: http://futureofyou.com/
• Contact Nan: nan@thefutureofyou.com

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Caleb and Riley are on a quest for The Holy Grail of retirement - that is, the ability to maximize spending in a way that is sustainable without any uncomfortable changes, no matter how long you live.  

Learn more about:

• Accumulation vs Deaccumulation
• How does inflation and future tax rates factor in to your retirement planning
• Sequence of Return Risk and what volatile market performances can do to your long term investment performance
• Longevity Risk and trying to account for how long your retirement years may be

Memorable Quotes

• “Retirement income planning is one of the nastiest, hardest problems we face in financial planning“
• “The holy grail of retirement is you spend the maximum amount early in retirement, without the fear of running out of money, without having to make any unexpected changes to how much you spend”
• “The biggest financial problem retirement is this: how much money should we be withdrawing, on a monthly basis, from our portfolio once we stop working? How quick or how slow and by how much should we be drawing down our money and spending it?"

• The 2017 Retirement Confidence Survey
  
  

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Caleb and Riley are talking about what to do in the middle of a global crisis. It may be your instinct to try to adjust your investment strategies as a crisis emerges, but is it the best course of action?

Learn more about:

• What to do with your investment strategy in times of uncertainty
• How people react to these market dips and how panic often drives it
• History of average market declines after major financial crises and where they were one year later
• When is the right time to invest extra money?
  
  

Memorable Quotes

• “We should be expecting the market to go up and go down and for various storms to happen. If the market is crashing for some reason it doesn’t make sense to make an investment decision on this, because the media is giving a certain thing certain attention at a certain point in time."
• “If I’m timing the market I’m basically saying that I can predict the best 10 days over the 4,000 days. That’s what the statement for someone to make!”
• “If someone asks, I have some extra money is now a good time to invest? The answer is always yes, as long as there is an appropriate goal for the money"

• Even God Couldn’t Beat Dollar-Cost Averaging
• William N. Goetzmann and Dasol Kim - 2017
  
  

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Caleb and Riley are looking at successful retirement and your portfolio performance. While we know portfolio success is measured by rate of return, not many people understand the actual concept of rate of return.

Learn more about:

• Understanding the difference between Accumulators (wealth builders) and Decumulators (retirees)
• Why performance is not a good measure of success and how people incorrectly compare performance
• Shifting focus from performance based investing to goal based investing

Memorable Quotes

• “They hit this retirement point, and all of a sudden it’s not about growing your wealth anymore, as it is about using your wealth. That was the point of growing your wealth, so that you could live off of it. That’s the whole concept of retirement“
• “I don’t know if someone can have a robust retirement and their goal being a certain percentage rate of return, or a certain portfolio size. To help you do what? Why? The money is there to fund a purpose not find a purpose”
• There are really two problems that retirees have when it comes to performance: One, they use performance as a measure of success. Problem two, they evaluate that performance incorrectly“

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Caleb and Riley are discussing what the game of chess can teach us about preparing for retirement. Chess can offer some wonderful insights into preparing our savings in a way that allows us to squeeze the most out of retirement income. Understanding the rules of the game and focusing on what you can control are two key parts of a winning retirement strategy.

Learn more about:

- Putting the right pieces of retirement in the right spots
- Understanding the rules and abilities of each piece of your retirement
- Developing a plan to use your retirement pieces together
- The importance of preparing your assets 3-5 years before retirement at a minimum

Resources

Importance of withdrawal order in retirement

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Caleb and Riley are looking at a wide range of resources examining behavioral finance and how it can impact your retirement. We all have cognitive biases that can manifest in our investing, and it is important to remove those emotions. The sensible approach to investing for retirement should look to eliminate behavioral bias and make decisions with a data driven algorithmic strategy.


Learn more about:

- Tactical Allocation Vs Static Indexing
- The role human behavior plays in investing
- Shifting from a short-term investment strategy to a long-term investment strategy

Memorable Quotes

“Often in short-term decisions is where emotional bias exist. That is where they live. They live in the right now choices“



Resources

Understanding behavioral finance can help advisors working with retirees
Ten Ways Behavioral Finance Can Boost Retirement Security
Tactical Allocation Vs Static Indexing: Which One Wins?
Column: Legendary investment guru Peter Lynch says the move to index funds is a ‘mistake.’ He’s wrong
Financial protection tactics as you near retirement
Self-Directed Investors: Insights and Experiences April 2021
Here Are the 3 Biggest Mistakes Retirees Make, and How to Avoid Them
Behavioral Finance: Understanding How Biases Impact Decisions
Why most investors underperform the markets

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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How early is too early to start planning retirement? Should someone in their thirties look to work with a Retirement Advisor? Caleb and Riley of InvestorDNA are asking which decades in your life make the most sense to work with a Retirement Advisor and what the process may look like from decade to decade. Learn more about how to make your retirement planning more efficient and save you on taxes.

Learn more about:

- Income planning and withdrawal planning
- Shifting your mindset from accumulation to decumulation
- The top questions you should be asking a Retirement Advisor you are considering working with
- Using the right tool for the job

Memorable Quotes

“You can’t control the weather, but you can control your planning”

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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Where did the idea of retirement come from and what is the best reason to retire? In this episode of Awe-Inspired and Retired, Caleb and Riley are sharing more about the history of retirement, and the disadvantages of a forced retirement versus planning retirement with purpose.

Learn more about:

- The origin and purpose of retirement in Ancient Rome
- Otto Van Bismarck
- How increased life expectancy has impacted retirement and retirement planning
- The 5 most meaningful reasons to retire

Memorable Quotes

“Don't buy your home gym before you have decided if you want to work out, and don't try to find your meaning of life before you have even realized what you enjoy. Take baby steps”

Resources

Angus Reid Institute Research on Retirement in Canada
I Just Retired. Why Am I Unhappy?

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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