Favorite Takeaways from 2016 RJ Podcasts

When I look back at the Retirement Journeys podcast for 2016 I am struck by several things: how fast podcast downloads and subscriptions grew; the amazing quality of my guests; the valuable information they shared; and their own interesting stories.

Here now are a few of my favorite takeaways from each of my 2016 podcasts.

RJ 011 – Financial Planners with Dirk Cotton

  • Everyone over 50 should consider working with a financial planner.
  • Your financial planner is the quarterback of your financial team which may include your investment advisor, estate attorney, tax accountant and insurance agent.
  • Financial planning is like sailing. You might start out by saying I want to go in that direction and it’s going to take me about 25 days. At the end of each day you will have drifted off course and you won’t have made the speed you expected. At the end of each day you need to reset the direction and your expectations as to when you’re going to reach the end of that sailing journey. Financial planning is the same way. You start out and say I’m going to spend 4% of my savings this year plus my Social Security benefit. And I’m going to do this every year. It’s a good idea when you start but you have to realize that at the end of each year you’ve spent some of your money, you had expenses you didn’t expect or the market has gone up or down. At the end of each year you need to reset your expectations and your plan.

RJ 012 – Robert Delamontagne on Retirement and Marital Stress

  • The fact that retirement can cause marital stress comes as a surprise to many couples.
  • He refers to “marital compression” as spending more time together which amplifies underlying different personality types.
  • Robert uses the Enneagram model which is a personality tool to help people understand and work through their differences.

RJ 013 – Retirement Coaching with Sharon Good

  • The transition into retirement is like a career change.
  • A retirement coach can help you figure out what you want to do in retirement and how to get there.
  • Sharon answered my question about how much of an investment someone needs to make to work with a coach with a rhetorical question of her own – what’s it worth to feel good about yourself and your life?

RJ 014 – Retirement Relocation with John Brady of TopRetirements.com

  • The top 4 reasons why people move are:
  1. Warmer climate
  2. Lower cost of living
  3. To be closer to family or friends
  4. Lower taxes
  • If you’re thinking about relocating start planning early, have realistic expectations, check out a lot of places and if possible rent before buying.
  • Retiring or aging in place is the preferred retirement option for most people. However, John warns of the risk of becoming isolated as one grows older or eventually becomes single.

RJ 015 – Aging with a Plan with Professor Sharona Hoffman

  • She provides an example of parents who did not plan and suffered the tragedy of having their home burn down. Their adult children faced enormous difficulty trying to figure out how to get important personal and financial records.
  • If you do not plan ahead, you may not have a choice of living arrangements when a health crisis occurs.
  • It’s very important to identify trusted decision makers who you can delegate to.

RJ 016 – AARP’s Roadmap for the Rest of Your Life with Bart Astor

  • Bart refers to retirement as a second adulthood. The traditional concept of retirement no longer applies.
  • When setting goals it helps to learn from others. We become a composite. No one person owns any way of being. We are free to take what we want.
  • If Bart were giving a commencement address his message would be simple – pay attention!

RJ 017 – The Sharing Economy with Glenn Carter

  • Glenn explains how the sharing economy can help retirees earn extra income, remain independent and stay engaged socially
  • People 55+ are making the most money. 25% of Uber drivers are over 55!
  • A great way to get started is to try out different services and to talk with the providers.

RJ 018 – Retirement Author, Blogger and Speaker Jan Cullinane

  • Jan displays her ability to speak backwards and how she almost appeared on the TV show That’s Incredible.
  • How do you know when it’s time to retire? Do I have enough? Have I had enough? And do I have enough to do?
  • Secrets for a successful retirement include strong social support, having a purpose to wake up for, being healthy, being open to negotiating roles (couples), good money management and having a good attitude about aging.

RJ 019 – Ted Carr’s Letter to My Younger Self

  • A short overview of my life’s journey including growing up in an alcoholic family.

RJ 020 – Fritz Gilbert of the Retirement Manifesto

  • Fritz’s goal is of early retirement (at 55) is driven by his desire to get out and enjoy as many of his and his wife’s remaining healthy years as possible.
  • His advice to other pre-retirees: recognize the importance of planning for both the financial and non-financial sides of retirement and be intentional about building bridges, such as activities and relationships, to help make the transition to retirement smoother.
  • The biggest mistake he wants to avoid is to not take advantage of all the opportunities that early retirement offers.

RJ 021 – Dave Hughes of Retire Fabulously

  • Dave believes that visualization techniques can help shape one’s retirement, e.g. people get the retirement that they imagine. If you imagine it will be good, you improve your chances of it turning out that way.
  • Dave started saving in his 20’s using a 401k and invested in growth funds. As he got older, he had less time to manage his personal finances. At work he met a presenter who ended up becoming his financial advisor. He is very happy with the results that she obtained. She helped make early retirement work by finding more income producing investments.
  • Dave’s expectation of retirement was that it would be a permanent vacation. He soon learned that was not realistic. He is surprised by how busy he is. He plays in 4 bands, is a Wedding Officiant and writer. He discovered that he thrives on having a full calendar!



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2 Responses

  1. Ian Bond says:

    Great 2016 Ted!

    Please keep it coming –I love to listen on long walks. You always deliver great insight and value.

    Here’s to a fabulous ’17!

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