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It’s easy to approach the later phases of your career with an All-or-Nothing mindset. Go all-in and work full-time longer? Retire and go off to have fun 24/7? Those options are fine for many people. But some people today are pursuing a customized hybrid version, keeping some work in the mix on their own terms, while preserving the freedom and flexibility retirement offers. It offers many benefits. Richard Eisenberg joins us today to share his experiences and insights from his version of retirement which he calls Unretirement. It may inspire you to create your own version of unretirement.

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Bio

Richard Eisenberg is a freelance personal finance writer and editor and co-host of the “Friends Talk Money” podcast. Most recently, he was managing editor of the Next Avenue site and editor of its Money & Policy and Work and Purpose channels.

A graduate of the Medill School of Journalism at Northwestern University, Eisenberg has been working in the spheres of work and personal finance for decades. His first job out of college was as a fact-checker with Money magazine. Eisenberg made his way up the ranks, eventually being named executive editor. He remained at Money for 19 years, went on to become the money and special projects editor at Good Housekeeping and then the front-page finance editor for Yahoo!

The author of two books: “How to Avoid a Midlife Financial Crisis” and “The Money Book of Personal Finance,” Eisenberg is an avid reader with interests ranging from novels to nonfiction.

Eisenberg and his wife, Liz Sporkin, live in New Jersey and are parents to two talented sons; Aaron, 31, a screenwriter, actor and comedian, and Will, 29, a director and screenwriter. The pair, who live in Los Angeles, are screenwriting partners.

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For More on Richard Eisenberg

MarketWatch articles

Follow on Twitter @richeis315

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Podcast Episodes You May Like

In Control at 50+ – Kerry Hannon

Why People Make a Career Change with Purpose Top of Mind – Chris Farrell

Retire Happy – Dr. Catherine Sanderson

A Tapas Life – Andy Robin

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Win The Retirement Game

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Wise Quotes

On Mentoring

“Well, the easiest way to do it is to see what the opportunities are in the field that you’ve been working in over the years. And there may be some sort of a program that you can be a part of that’s formal, or maybe it’s informal. Maybe you’re just doing it one-on-one with people that you know who are looking for some guidance and some advice, people that you’ve worked with before, or maybe people who are new to you. Maybe they’re friends of your children or friends of your own family members. There’s lots of different ways to do it. Another mentoring I’m going to be doing this fall is at Columbia University in a program called the Age Boom Academy. And I’ve actually been part of that, a number of times as an Age Boom Fellow, and then as a moderator and this year, I’m helping to run it and moderate it. And that is a program for journalists who write about aging. We bring in experts on the subject, and this year the theme is about caregiving. I’m helping to moderate some of those panels and mentor the students to help them to come up with ideas for articles and shape those articles, that sort of thing. So for me, the mentoring comes out of the work that I’ve done. And I think by and large, that’s probably the easiest way for people to do it. It may be that you just have a skill or talent that others don’t, but they would like to have. And so you can do your mentoring by letting people know, Hey, if anybody would like to learn how to do what I know how to do, I’m happy to help to do it.”

On Volunteering

“I would say don’t feel bad if the place you think you want to volunteer doesn’t work out. You may not know until after you start doing it that it’s not what you enjoy doing or what they want you to do is not what you thought they would want you to do. Or they’re not using your skills. Now where I’m doing my volunteering. I don’t really feel like I’m using any of my skills per se, but there are lots of volunteering opportunities where you can. So I would say, it’s trial and error. So you’ll try a place you want to volunteer and maybe you’ll love it. And I hope you do and you’ll stick with it. And maybe you won’t and then you’ll find another place or maybe you’ll find a few different places. And you may want to talk to friends and family members about where they’re volunteering, especially if they have an interest that align with yours, because they may have some ideas for you. Or you can just do a search online at places like Volunteer Match to see where are the volunteering opportunities. You may also just want to volunteer with an organization that you have been a part of, maybe it’s your church or synagogue. Maybe it’s a place that you’ve donated money to in the past, but now you can donate your time. So see what works for you and don’t feel bad if the first one isn’t the right one.”

On Meaning & Purpose

“I think mostly it’s that people often don’t think about where they’re going to find meaning and purpose in this new stage of life. What are they going to retire to? They’re mostly focused on what they’ve retired from and maybe the financial side of Well, can I afford to retire? and Where’s my money going to come from?, but not  What’s gonna make me want to get up in the morning every day and where can I find more of that? And I feel like once you do that, you can really make your retirement very special. But if you don’t, it can be extremely sad and possibly very lonely. And I’ve talked to people who didn’t find a new purpose or who knew people who didn’t and they tell very sad stories. And I just feel like it’s so important to think about that. And if you can think about it before you start retiring, and if you don’t, then at least think about it once you do retire and search for ways that you can find meaning and purpose.”

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About Retirement Wisdom

Take charge of your future.

Schedule a call to find how how the Designing Your Life process (developed by Bill Burnett & Dave Evans at Stanford) can help you unlock a new direction.  Learn more about our One and One coaching and small group programs. Take the first step toward your new life today.

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About Your Host 
Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.
Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1.5 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference.

He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Intro and Outro voiceovers by Ross Huguet.

Are you prepared for the non-financial side of retirement? Take our free quiz

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What challenges and opportunities do women face in planning for retirement? I often say that my male clients can learn a lot from my female clients. Joining us today is Marjorie Fox, JD and CFP ®, co-author of WOMEN WISE: The Essential Guide to Lifestyle and Financial Decisions As We Age.

We discuss:

  • The disadvantages women face in planning for retirement
  • The advantages women bring to retirement
  • How to navigate the transition to retirement, and also the major life transitions in retirement
  • The top 3 financial decisions women need to prepare for
  • What people should look for in a financial advisor – and what to look out for
  • Why being able to say No is important in retirement
  • The most pleasant – and unpleasant – surprises in her own transition to retirement
  • Do’s and Don’ts she’d offer women listening on planning for retirement

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Bio

Founder and CEO of FJY Financial, LLC, a financial planning and investment advisory firm, Marjorie L. Fox, JD, CFP®, retired at the end of 2018 after more than thirty years in the financial planning profession. FJY Financial is known for its white paper “Implementing Internships,” its merger in 2014 with LifePoint Financial Partners in Midland, Texas, and for an internal succession plan that succeeded in passing Marjorie’s ownership interest in the firm to the next generation of owners. The firm was named a “Best Place to Work” by the Washington Business Journal in 2013 and won the Schwab Impact Pacesetter Award in 2015.

Marjorie served on the Board of Directors of the National Association of Personal Financial Advisors (NAPFA) and the NAPFA Consumer Education Foundation. She was named one of the “Twenty Most Influential Women to Watch” by Investment News in 2015 and in 2018 received NAPFA’s Robert J. Underwood Award for Distinguished Service.

Marjorie is a fourth-generation Californian who earned her B.A. from Pomona College and a law degree from UCLA. For almost forty years, she has called Virginia home. She and her longtime friend and professional colleague Eleanor Blayney, MBA, CFP® wrote Women Wise together in an effort to help single women in their 60s and 70s make financial and lifestyle decisions.

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For More on Majorie L. Fox, JD, CFP®

The Book: WOMEN WISE: The Essential Guide to Lifestyle and Financial Decisions

As We Age – by Eleanor Blayney and Marjorie Fox

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Podcast Episodes You May Like

Retirement Planning Considerations for Women – Russ Thornton

Advice for Successful Career Women Transitioning to Retirement – Helen Dennis

Are You Ready for The New Long Life? – Andrew Scott

What Can You Do to Age Better? – Anna Dixon

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Get your copy of Win the Retirement Game

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Wise Quotes

On Common Mistakes to Avoid

“…And we call some of those mistakes, unforced errors and other mistakes, MIBIs and MIBMs – miss it by an inch, miss it by a mile. We define unforced errors as the mistakes you won’t make if you take the time and make the effort to understand [things like ] Social Security…The one we probably emphasize most is claiming benefits early. In some cases, whether it’s for health reasons or financial reasons, it makes the most sense for an individual to claim Social Security early, but in most of the cases, it just really pays to wait to age 70. There’s no point in waiting after that. But depending on whether your Full Retirement Age is 66 or 66 and 6 months, you get an 8% increase in the benefit by waiting 8% per year. We emphasize that several times in the book: wait, if you can. There’s miss it by an inch, and this is Eleanor [Blayney’s] genius again with these mistakes. You come close to a benefit, close to minimizing income taxes, or close to avoiding an increase in the Medicare premium, but you miss it by an inch and the implications are major. Just as an example, we talk qualifying for a benefit based on your ex-spouse’s earnings record. It requires 10 years. Not a day less than 10 years. I think people tend not to make this mistake as much, but it’s an important reminder.”

On Aging in Place

“…the vast majority of retirees want to age in place, but only 41% think they probably will be able to. So have a Plan B.”

On Saying No 

“I know how tempting it is to say yes to every opportunity. At least I did immediately after retirement. I wanted to stay involved. And I wanted to stay involved because with retirement, I’d lost my identity. I’d lost structure, I’d lost my purpose. I’d lost relationships. So I said yes to anything and everything that came and approached me. And then I realized: this isn’t working… But it’s also not a good thing to say no to everything either. And as I learned, I decided to say no to build rebuilding an aging, single family home. My son wanted me to do this because he was born there. He grew up there, but he was living in California. Didn’t make any sense at all. And I also stepped back from a non-profit board. I originally said yes, because it seemed like a good cause and would fill my time. And then I realized that old saying, if it doesn’t rock your boat…or whatever. So I haven’t regretted those no’s. I realized as I finally started paying attention to my time, that I only had so much bandwidth – and I wanted to have bandwidth to say yes to the right thing or things when they came along.”

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Mentioned in This Podcast Episode

Susan Bradley

AARP’s Watch Dog Alerts

National Association of Personal Financial Advisors 

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About Retirement Wisdom

Take charge of your future.

Schedule a call to find how how the Designing Your Life process (developed by Bill Burnett & Dave Evans at Stanford) can help you unlock a new direction.  Learn more about our One and One coaching and small group programs. Take the first step toward your new life today.

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About Your Host 
Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.
Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1.5 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference.

He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Intro and Outro voiceovers by Ross Huguet.

 

 

 

 

 

 

Many people are multidimensional and can achieve success in different fields. Kevin Thompson achieved his dream of playing Major League Baseball with the New York Yankees and the Oakland A’s. Along the way he, with other pro athletes and investors, was the victim of a Ponzi scheme. After learning how to take control of his financial future, he’s built a second act career as a Certified Financial Planner (CFP) and Retirement Income Certified Professional (RICP). We discuss his two careers, his book From MLB to CFP, why people should plan for day-to-day life in retirement and not just to a retirement date – and we talk baseball…

Kevin Thompson joins us from Fort Worth, Texas.

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Bio

Kevin Thompson is the President and CEO of 9Innings Capital Group LLC. As a Wealth Management Advisor, Kevin facilitates the financial professional/client relationship by helping to analyze one’s financial needs while developing a framework that can best address one’s objectives. The 9Innings Capital Group philosophy is a system that allows the client to understand their entire financial picture under one platform which allows for the advisor to discover waste and ways to help the client manage risk.

Kevin Thompson uses fundamental and technical analysis to influence investing decisions. Kevin is excellent at dissecting financial statements and analyzing data to perfect his investing decisions while using technical research to provide for liquidity and supply/demand metrics ascertained from equity markets. Kevin received his BBA in Finance from the University of Texas at Arlington. Kevin has obtained his Series 7, 24, 63, 66 and Group 1 licenses. Kevin is a Certified Financial Planner™️ Professional,  And a Retirement Income Certified Professional®️.

Before the financial industry, Kevin played major league baseball for the New York Yankees and Oakland Athletics.

Born and raised in Fort Worth,Texas Kevin Thompson is proud to call Cowtown his home. He resides in town with his beautiful wife Sherae and their son Braxton Richard Wolfgang.

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For More on Kevin Thompson

9Innings Capital Group

From MLB to CFP

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Reviews are Coming In for Win the Retirement Game
“I wish I had this book when I retired.”
Win The Retirement Game is well written, easy to read, and hard to put down.”
“A great book for thinking about your retirement at any age!”
“Includes a well crafted story about Pete’s journey but also gives realistic exercises for the reader to go along with him. I would recommend this book to any adult but especially those who are struggling to find their purpose in life.”
“I highly recommend this book not just to those about to be or recently retired, but to anyone anticipating or experiencing a life transition.”
Read It Today:
Amazon    Barnes & Noble    Bookshop.org
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Podcast Episodes You May Like
Figure It Out – Mike Westhoff
Navigating the Transition – Dr. Maggie Mulqueen
Best Of The Retirement Wisdom Podcast – Money Matters
The Key Decisions for Retirement Success – Wade Pfau
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Wise Quotes 

On Planning for Retirement

“Outside of the typical stuff, like Social Security maximization, Long Term Care planning, it’s the fact that many of us plan to retirement. I want to retire at 65 or 66, they plan to that date. But what will your day to day look like? How many trips are you going to take during the year? How often are you going to go see the grandchildren? What does day-to-day life look like for Joe? Right? The biggest thing I would say, [is] people don’t necessarily realize is now you’re in retirement, are you going to play golf three or four times a week? Are you gonna go fishing three or four times a week? How many times are you going to do that until you say, You know what, I’m tired of this!  How many hours are you going spend in the garden until you’re saying, You know what? I need to figure something else out. It’s planning for retirement, not just planning to retirement.

On Delayed Gratification

“Just work on doing the things today to take care of yourself in the future, which means… get to the point [of ] delayed gratification. Don’t try to gratify or satisfy yourself today because the 40, 50, 60, or 70 year old You will thank you in the future. So delayed gratification, whether it be with investing delayed gratification, or whether it be with savings and purchasing things, all that just takes some delayed gratification to where you can have success in the future.”

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About Retirement Wisdom

Take charge of your future.

Schedule a call to find how how the Designing Your Life process (developed by Bill Burnett & Dave Evans at Stanford) can help you unlock a new direction.  Learn more about our One and One coaching and small group programs. Take the first step toward your new life today.

Are you prepared for the non-financial side of retirement? Take our free quiz and see what you should be preparing for in your retirement planning.

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About Your Host 
Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.
Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1.5 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference.

He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Intro and Outro voiceovers by Ross Huguet.

 

When you’re planning for retirement, there are many big questions to ponder. And where to retire is a central one. Even if you’re thinking of staying in place, there are many factors to consider. Our guest today, Silvia Ascarelli of MarketWatch, explains a free tool that can help you do your homework on this major decision. And she highlights some factors you may not be taking into consideration – yet.

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Bio

Silvia Ascarelli is a Deputy Commentary Editor for MarketWatch based in New York, who also writes the “where should I retire” column and MarketWatch’s pick-your-criteria “where should I retire” tool is her passion project. Previously, she was the MarketWatch home-page editor, a Wall Street Journal /Dow Jones reporter, and editor in Europe and the U.S.

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For More on Silvia Ascarelli

MarketWatch’s Where to Retire tool

MarketWatch’s Where to Retire Column

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Mentioned in This Episode

I went searching for the perfect place to live in retirement — and got lost along the way

Before you move to a new town in retirement, check the local Walmart – and 5 other hard-learned lessons

There is more to picking a place to retire than low taxes — avoid these 5 expensive mistakes

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Win the Retirement Game is Now Available

Amazon      Barnes & Noble     Bookshop.org

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Podcast Episodes You May Like

Where Will You Live Next? – Ryan Frederick

Keep the Memories, Lose the Stuff – Matt Paxton

Breaking the Age Code – Dr. Becca Levy

Design Your Life and Get Unstuck – Dave Evans

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Wise Quotes

On Social Connectivity

“I think we all romanticize certain places. And for all of us, no matter our age, the big question is how am I going to build my personal network of friends. We know that social connectivity, having friendships is really important for our brains and to keep us healthy and happy, and to word off things like dementia, which we all want to avoid. And this isn’t just for our moving in retirement. I had a long conversation with a Millennial at my local farmer’s market on Saturday. And she was debating whether moving to this suburban area where I live would be a good fit for her as a single woman. It was a lot about how are you going to find your tribe?

On Test Driving Retirement

“What are you retiring to? [It’s] not  just what you’re retiring from.Y ou’ve got a lot of years left, I hope and you want to be happy and healthy. So how are you going to make that happen? It it’s something I think about, too. What am I retiring to? How am I going to build my network? What am I going to spend my time with? What’s at 10 o’clock on a Tuesday in February going to look like? I have friends who said when they retired, they made a point of having one thing on the calendar every day to give them some of the structure they wanted. Another thing is, if you do want to move…the data can only tell you so much, but do explore your short list by actually living there for a while. Rent an apartment for a couple weeks, a month or even more…Think about how you’re going to live your daily life.”

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About Retirement Wisdom

Take charge of your future.

Schedule a call to find how how the Designing Your Life process (developed by Bill Burnett & Dave Evans at Stanford) can help you unlock a new direction.  Learn more about our One and One coaching and small group programs. Take the first step toward your new life today.

Are you prepared for the non-financial side of retirement? Take our free quiz and see what you should be preparing for in your retirement planning.

___________________________

About Your Host 
Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.
Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1.5 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference.

He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Intro and Outro voiceovers by Ross Huguet.

Win the Retirement Game – Now Available

Saving and investing for retirement takes discipline and sacrifice. But Sam Dogen, creator of the Financial Samurai website, points out that you also need to spend money to make money. He’s taught over 90 million readers how to invest wisely, not just financially, but in all facets of life. He joins us to discuss his Wall Street Journal bestseller, Buy This, Not That, and his lessons from more than a decade into a very early retirement.

San Dogen joins us from San Francisco.

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Bio

Sam Dogen is the author of Buy This, Not That: How to Spend Your Way to Wealth & Freedom  and the mastermind behind FinancialSamurai.com, one of the largest independently-run personal finance sites with roughly one million organic visitors a month. He launched Financial Samurai in 2009 when the world was falling apart and his net worth was taking a beating. His inspiration was to help himself and others make sense of the chaos. As a finance veteran since 1999, Dogen writes from firsthand experience to provide the most helpful insights possible. He spent 13 years working at Goldman Sachs and Credit Suisse, holds a BA in Economics from The College of William & Mary, and an MBA from UC Berkeley. In 2012, he left his day job in finance at age 34 to be permanently free and pursue being a writer. He has lived in seven countries and has traveled to over 60 countries so far.

Dogen’s writing delves deeper into investing, real estate, retirement planning, career strategies, and more, so we can all achieve financial independence sooner, rather than later. Financial Samurai is also proud to be one of the pioneers of the modern-day FIRE movement. Since the financial crisis, more than 80 million visitors have stopped by FinancialSamurai.com to learn, share, and grow. In addition, Dogen’s work has been highlighted in major publications such as CNBC, MarketWatch, Forbes, The Consumerist, The Chicago Tribune, The Los Angeles Times, and many more.

Dogen is also known for The Financial Samurai Podcast and the one-of-a-kind eBook, How To Engineer Your Layoff, which teaches employees how to negotiate a severance package and be free. When not writing or podcasting, Sam can often be found on the playground taking care of his two young children or on the softball field or tennis court.

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For More on Sam Dogen

Buy This, Not That: How to Spend Your Way to Wealth & Freedom

Financial Samurai website

Weekly Newsletter

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Wise Quotes

On Purpose and Meaning in Retirement 

“It’s definitely a learning process because you don’t know how you will feel in retirement until you get there, until you no longer have that steady paycheck. And so for the first year, I thought ‘Ok, I want to play a lot of tennis golf and travel the world.’ So, that’s what I did. I went to 20 countries. [I] saw nine Gothic churches. But after about the fifth church, they all started looking the same. And after about eight months, I started getting really bored of this early retirement lifestyle.

So in my mind I stopped saying I’m an early retiree. I just said I’m a writer, because I wanted to spend time writing on Financial Samurai which was, and still is, my passion hobby, the thing that I love to do every single day. And I found that the ideal amount of work – purposeful work – to do is about 20 hours a week. Now if you think about it, before in the olden days, when we had to go to the office for work, maybe let’s say we’re there for 9 hours. We would spend maybe three or four hours doing, at least for me, deep work and then three or four hours of so-so work, and then one to two hours of  lunch – and then just water cooler and chitchat. And so, I felt that if I could do deep work before my family woke up it would provide me enough meaning and purpose. And then after that, I could spend time playing tennis, softball and spend time with family. And so that is what I learned over the years: that you have to find a really meaningful thing to do post your day job, because that journey is what is most rewarding. Having a goal and working towards it every single day, seeing progress in whatever you’re doing. That is what brings so much purpose after retirement.”

On Fear

“The fear in your head is often worse than reality. If I could rewind time twenty-five years, I would say Sam, invite more people out to drinks, lunch and dinner. Ask that person. You just never know what might happen. The fear in your head is greater than the reality, because at the end of the day, you can just start over and try again if you fail. But just keep on failing because eventually you’re going to find your success.”

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Podcast Episodes You May Like

How to Retire Early and Live Your Life Fully – Leif Dahleen

You Can Learn a Lot from the Principles of FIRE – Chris Mamula

What Are The Keys To A Successful Retirement? Fritz Gilbert

Retirement Stepping Stones – Tony Hixon

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About Retirement Wisdom

Planning for retirement goes well beyond your 401k or IRA. How will you invest your time after your full-time working years?

You’ll need another portfolio.

I help people create an active multipurpose retirement, with the right mix of interests, activities and pursuits to invest your time wisely. And for many, like me, it includes a new version of work – redefined on your own terms.

Schedule a call to see if a 1-on-1 coaching program or a small group Designing Your New Life program can give you an edge in your next chapter.

Visit retirementwisdom.com for tools and resources to help you retire smarter.

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About Your Host

Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.
If you’re thinking about retirement, you’ll also need to be planning for longevity. That’s why Joe returned to school, earning a Masters in Gerontology from the University of Southern California. Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1.5 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference.

Joe is the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Intro and Outro voiceovers by Ross Huguet.