In this episode, Wade, Alex, and Jason discuss the meaning of retirement and the factors to consider when deciding on a retirement date. They explore the idea that retirement is not just about leisure activities like golfing, but also about personal goals and relationships. They also touch on the possibility of working in retirement and the importance of financial independence. The conversation highlights the need for careful planning and consideration of health, financial, and personal factors when determining the timing of retirement. In this conversation, the hosts discuss the different factors that can influence retirement decisions, such as health, career changes, and financial stability. They emphasize the importance of asking the right questions and setting goals to create a comprehensive retirement plan. The hosts also mention the upcoming retirement income challenge, where participants can learn more about retirement planning. They end the conversation by teasing the next episode, which will focus on the changes that occur in retirement. Listen now to learn more!

Takeaways

• Retirement is whatever you decide it to be, and it can look different for everyone.


• Working in retirement or pursuing new ventures after retiring from a career is becoming more common.


• Retirement should not be solely focused on leisure activities, but also on personal goals and relationships.


• Financial independence is a key driver of retirement, as it provides the flexibility to do what you want.


• The timing of retirement should be carefully considered, taking into account health, financial, and personal factors.


• Retirement plans may need to be adjusted if health issues or unexpected circumstances arise.


• Retirement is a transition that requires planning and preparation to ensure a smooth and fulfilling experience. Retirement decisions can be influenced by factors such as health, career changes, and financial stability.


• Asking the right questions and setting goals is crucial for creating a comprehensive retirement plan.


• Investing in relationships and health is important for a fulfilling retirement.


• The retirement income challenge is a valuable resource for learning more about retirement planning.


• The next episode will explore the changes that occur in retirement.

Chapters

00:00 Introduction and Small Talk

03:45 Working in Retirement

06:47 Beyond Leisure: Personal Goals and Relationships

09:38 The Importance of Financial Independence

12:25 Timing Retirement: Health, Financial, and Personal Factors

20:31 Adjusting Retirement Plans for Unexpected Circumstances

22:35 Retirement as a Transition: Planning for a Fulfilling Experience

25:15 Asking the Right Questions for Retirement Planning

28:01 Investing in Relationships and Health for a Fulfilling Retirement

37:40 Join the Retirement Income Challenge

41:21 Next Episode: Changes in Retirement

Links

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ 

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”