Podcasts Archive - Page 47 of 71 - Retirement Wisdom

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What unique challenges do women face in retirement planning? We talk with Russ Thornton, an experienced retirement advisor who specializes in helping women prepare for retirement. And we cover several topics of interest to anyone who’s planning for retirement.

We discuss:

  • The story behind why he specializes in retirement planning for women
  • What he sees as the unique challenges women face in planning for retirement
  • What’s different about planning for retirement today versus 10 to 20 years ago
  • The key building blocks of a sound retirement plan
  • What many people don’t know about retirement planning – but should
  • The mistakes he sees people make in planning for retirement that can be avoided
  • How his clients navigate the challenges that come with the transition to retirement
  • How couples can get on the same page about retirement
  • His approach at Wealthcare for Women
  • The upside of life in retirement he sees his clients living today

Russ joins us from Atlanta.

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Bio

Russ Thornton has been a retirement advisor for over 25 years and specializes in helping women retire confidently on their own terms to comfortable, fulfilling lives, at his retirement advisory firm Wealthcare for Women. Russ was selected as one of Investopedia’s Top 100 Financial Advisors in 2019, 2020, and 2021. Prior to establishing his own firm, Russ was a Financial Advisor with Merrill Lynch.

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For More on Russ Thornton

Wealthcare for Women

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Wise Quotes

On Not Deferring Living

“I like to always emphasize the idea that you can do things now and in retirement. You don’t have to wait. And if you wait, you run the risk that you’re not here. Tomorrow isn’t promised. I’m sure we all have heard about, or maybe know, people that have planned to retire and for one reason or another, they never made it to retirement. Or they retired and in a year or two or three in something happened and they didn’t even get to enjoy all the years they’d planned on. So, I think you need to think about how you can start enjoying your life today while still preparing for a comfortable and confident retirement ahead.”

On Planning for How You’ll Invest Your Time

“Clearly retirement planning revolves around making sure that you’ve got the financial pieces in place to support your life, no matter how long you live. But, I think it’s worthwhile to also spend time thinking about how are we going to spend our time? And who are you going to spend your time with? What are you going to stop doing once you retired? Maybe that gives you the opportunity to eliminate some things in your life that by necessity that you’re dealing with now related to work or other commitments.”

On Shifting from Saving to Spending

“I find that it’s often very difficult for people to make that mental shift from saving and accumulating to starting to spend, and as a result, I find a lot of people underspend – especially in the first few years of retirement.  When in reality, if they’re going to overspend, maybe they should actually overspend a little bit more early in retirement when they’re younger, more mobile, want to travel, and want to do more things.”

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Podcast Episodes You May Be Interested In

Retire Happy – Dr. Catherine Sanderson

Why Retirement is About Much More Than Money – Ted Kaufman & Bruce Hiland

Advice for Successful Career Women Transitioning to Retirement – Helen Dennis

Ways to Retire on Less – Harriet Edleson

The Future You – Brian David Johnson

Who Will Take Care of You When You Are Older? – Joy Loverde

The Key Decisions for Retirement Success – Wade Pfau

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About Retirement Wisdom

Retirement is about much more than money. You haven’t worked this hard for so long to have a mediocre post-career life.

It’s your time. Make it your best time.

Take the first step toward your new life.

Work one-on-one with our Certified Designing Your Life Coach to explore alternative visions of your future and develop the new pathway that’s right for you.

Or maybe you learn best in a group – our new five-session small group Designing Your Life program starts in mid-January.

Schedule a free call to discuss our programs and what’s right for you.

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Giving thanks is probably on your mind this week if you’re here in the US. And there’s a lot to be grateful for. There’s science behind gratitude and how it can enhance your health and well-being. Dr. Glenn Fox from the University of Southern California joins us to chat about the research on gratitude and how to apply it in your daily life. We also touch base on how gratitude plays a role in high performance and what he’s learned from his work with entrepreneurs and Navy SEALS.

We discuss:

The Science of Gratitude

  • How gratitude is defined
  • The benefits of gratitude
  • What gets in the way of gratitude
  • Why gratitude is a positive emotion and also a skill
  • The practices he uses in his daily life to apply the research on gratitude
  • How to start a gratitude practice

Entrepreneurship

  • How gratitude plays a role in high-performance among entrepreneurs
  • What to consider before becoming an entrepreneur

 

  • And…what he learned from being in Back to the Future 3 way back in the day

Glenn joins us from California.

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Bio

Dr. Glenn Fox is a faculty member at the University of Southern California’s Lloyd Greif Center for Entrepreneurial Studies, in the Marshall School of Business. His current projects focus on neural systems for emotion regulation, high stakes training, and developing entrepreneurial mindset skills in founders and business leaders.

Glenn received his Ph.D. in Neuroscience from USC, where he focused on the neural correlates of gratitude, empathy, and neuroplasticity. Following graduate school, he started a company, Ph.D. Insight L.L.C., which focused on providing data science consulting for small businesses and early-stage startups. Prior to joining Marshall as a faculty member, Glenn led the Performance Science Institute at USC where he worked with the United States Marine Corps, Army Research Laboratories, Seattle Seahawks, and numerous Olympic athletes and Fortune 500 companies to examine the role of mindset in business and high stakes pursuits.

Currently, Glenn is the Director and Founder of the USC Found Well Initiative which aims to understand and promote entrepreneurial mindset in founders and business leaders. He also serves as a Principal Investigator at the USC Sensorimotor Assessment and Rehabilitation Training in Virtual Reality Center (SMART-VR) and a fellow of the Brain and Creativity Institute.

Outside of USC, Glenn serves as the Chief Science Officer of the C4 Foundation, which serves to strengthen and protect Navy SEAL families. Glenn is also currently on the advisory board of the Flow Research Collective, where he works with Steven Kotler on projects related to gratitude, flow, and high performance. He consults regularly with companies and media outlets on topics ranging from small business management, gratitude, and high performance.

Glenn is an avid maker and restorer of things old and metal. He lives in LA with his wife and son.

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For More on Dr. Glenn Fox

What Can the Brain Reveal About Gratitude?

Practicing Gratitude Can Have Profound Health Benefits

The C4 Foundation

Follow on Twitter @glennrfox

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Wise Quotes

On Gratitude

“Gratitude is a word we hear thrown around a lot, and I think that’s a good thing. And we only begin to understand gratitude more. The more we begin to look for it. And as you start to look and observe gratitude, you realize that it’s so much more than what people talk about. We hear the word gratitude, and we think about it as a synonym for happiness, a lot of the time, but this limits what I think gratitude really is – and what it really can do for people. It’s more than happiness. It’s more than just getting something nice. It is a framework. It’s part of our moral compass for how we keep track of our relationships to others. It’s part of our deepest motivational circuits.”

On Paying Attention

“I think it’s as simple as paying attention. So there are ways to nudge ourselves to feel grateful – leave your gratitude journal on your desk so that when you go to work, you’ve got to move your gratitude journal. Or put it by a side of your bed, so every time you go to bed, you’ll have to move your gratitude journal and turn on your light and say ‘Oh, I better fill this thing out right now.’ So little nudges like that I think can make a big difference – and soon you’re starting to pay attention. So I really think the biggest hurdle, honestly is just not treating it like a skill, treating it like a trait that you’re born with, or you have, or you don’t, and that’s completely false. So treating it as a skill to be developed and then designing ways so that we pay attention is the best way. We lose gratitude when we’re not paying attention to what’s around us – when we’re not paying attention to the present moment. And we all do this. I say, we intentionally, I’m not saying this is me. I’m right there with you. That’s when I notice it personally it’s like: ‘Oh, if I designed my life to practice this a little better, I get more of it.’ So really, it’s as simple as paying attention. But the ramifications of that are pretty profound in terms of setting our life around our mental health and mental recovery and mental flourishing.”

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Podcast Episodes You May Like

Are You Living Gratefully? – Kristi Nelson

Retire Happy – Dr. Catherine Sanderson

Chatter & Your Inner Voice – Ethan Kross

The Mind-Body Connection and The Rabbit Effect – Kelli Harding

Will You Be an Entrepreneur in Your Second Act Career? – Dorie Clark

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About Retirement Wisdom

Are you ready to graduate from the world of full-time work? You haven’t worked this hard for so long to have a mediocre post-career life.

`It’s your time. Make it your best time.

Take the first step toward your new life.

Work one-on-one with our Certified Designing Your Life Coach to explore alternative visions of your future and develop the new pathway that’s right for you.

Or may you learn best in a group – our new small group Designing Your Life program starts in mid-January.

Schedule a free call to discuss our programs and what’s right for you.

 

 

Next week, Retirement Wisdom is partnering with One Day University to bring you a
FREE live-streamed talk with renowned Amherst Professor Catherine Sanderson.
Exclusively for listeners of The Retirement Wisdom Podcast
If you listen to our podcast, you may have heard me mention One Day University.
One Day University brings over 200+ top-rated professors together online to present incredible, live-streamed talks based on their most popular courses. You can learn something new every day, about history, art, psychology, and much more. It’s like going back to college, but no homework or tests – just the joy of
learning from top experts.
Professor Sanderson will present a live-streamed, one-hour version of her most popular course, Positive Psychology: The Science of Happiness, including time to ask her questions, in real-time.
This course will take place on January 18th, at 7 pm Eastern
If you can’t tune in live, everyone who RSVPs will receive a link to watch the class anytime they want.
To RSVP today for this free class, just visit:
www.onedayu.com/retirementwisdom

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If you’re planning for retirement, you’re focusing on covering all your bases. But how about your happiness? When you’re able to retire, will you be prepared to retire happy? Professor Catherine Sanderson joins us for a conversation about research from the field of positive psychology on happiness, and her practical recommendations on how to enhance your well-being.

We discuss:

  • How she become interested in positive psychology and in the study of happiness
  • How our Mindsets influence us
  • What predicts happiness
  • If Eyerores can become Tiggers
  • If money buys happiness
  • Why linking happiness to external events isn’t wise
  • How we think about aging influences how we actually age
  • How she applies the research on optimism and happiness in her daily life
  • What gets in the way of happiness that we should avoid
  • Practical tips to enhance your happiness

Dr. Sanderson joins us from Amherst, Massachusetts.

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Bio

Catherine A. Sanderson is the Poler Family Professor and chair of psychology at Amherst College.

She received a bachelor’s degree in psychology, with a specialization in Health and Development, from Stanford University, and received both masters and doctoral degrees in psychology from Princeton University.  Her research has received grant funding from the National Science Foundation and the National Institute of Health. Professor Sanderson has published over 25 journal articles and book chapters in addition to four college textbooks, middle school and high school health textbooks, as well as the Introduction to Psychology course for The Great Courses. In 2012, she was named one of the country’s top 300 professors by the Princeton Review.

Professor Sanderson has written trade books on parenting as well as how mindset influences happiness, health, and even how long we live (The Positive Shift). Her latest trade book, published in North America as Why We Act: Turning Bystanders Into Moral Rebels (Harvard University Press) and internationally as The Bystander Effect: The Psychology of Courage and Inaction (HarperCollins), examines why good people so often stay silent or do nothing in the face of wrongdoing. For a preview of the topics addressed in this book, watch Catherine’s TEDx talk on the Psychology of Inaction, which describes the factors that contribute to inaction and provides strategies we all can use to help people act, even when those around them are not.

Professor Sanderson speaks regularly for public and corporate audiences on topics such as the science of happiness, the power of emotional intelligence, the art of aging well, and the psychology of courage and inaction. These talks have been featured in numerous mainstream media outlets, including The Washington Post, The Boston Globe, USA Today, The Atlantic, CNN, and CBS Sunday Morning with Jane Pauley. She also writes a weekly blog for Psychology Today – Norms Matter – that examines the power of social influence on virtually all aspects of our lives.

Catherine lives with her husband, Bart Hollander, and three children – Andrew, Robert, and Caroline – in Hadley, Massachusetts.

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For More on Dr. Catherine Sanderson

Website

The Positive Shift: Mastering Mindset to Improve Happiness, Health, and Longevity

One Day University:

The Science of Happiness

The Art of Aging 

(Subscription required. Currently offering a Two Week Free Trial)

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Wise Quotes

On What Predicts Happiness

“So about 50% of our happiness seems to be built in – in terms of our genes. And this means that some people have a genetic predisposition to feeling happier. Now it’s not as simple as a happiness gene. There seems to be a constellation of different genes that predispose somebody to being, in part, more resilient when things don’t go well, but also probably predisposed to seeing the bright side, finding that silver lining, no matter what happens. And so about 50% of our happiness in fact is determined by our genes. But thinking about it positively, that also means that about 50% of our happiness is not influenced by our genes. And that’s the part that I care about the most. And what the research says is that in fact, about 50% of our happiness is determined by things that we do. So this could be something as simple as exercising, spending time in nature, giving to other people and building good relationships. So there are things that we can all do in our daily lives that also predict happiness.”

On Money, Time & Happiness

“I really find this research fascinating, and what this research is really illustrating is that it’s not so much how much money you have, but it’s really how you choose to spend your time. And that people who make choices that are saying I’m going to spend money to save some time, actually experience higher levels of happiness. And that often I think is kind of counterintuitive. So I grew up in a family that was not particularly well off. You know, my parents were highly conscious of what we were spending and they both came from families historically in their own lives that had really struggled with money. So we made lots of choices that were ‘all right, we’re going to have a sort of bad layover ‘ that’s not very pleasant when we went on vacation. So we go on vacation, but we were going to do it in this sort of cheaper way. And what this research is now showing, very strongly, is that people who make choices that are saving themselves time actually are experiencing higher levels of happiness. So, okay, we’re going to take the more expensive flight, but we’re going to have 10 more hours in Paris, We’re not going to spend six hours in the Amsterdam airport or whatever. It’s not how much money you have, but kind of how do we spend that money? That’s very, very strongly predictive of increased happiness.”

On External Events & Happiness

“So I think that the challenge is that people often think I will be happy when…and the when varies. So it could be, I’ll be happy when I get married. I’ll be happy when I have a child, I’ll be happy when I retire. I’ll be happy when I buy a house. We often think of happiness being around the corner, instead of happiness being something that we can actually control in our own lives. So what the research shows is that for some people, retirement actually can be really hard because they might lose a sense of a social network. They might lose the sense of colleagues at the office. They might lose a sense of purpose and their success in terms of producing things in a way. And I think the lessons from positive psychology really tell us is that we actually control what  retirement is for ourselves.”

On How to Retire Successfully

“And what do we know about how to successfully retire? Well, [it’s] basically the things that predict happiness throughout our lives: having meaning building relationships, choosing how you allocate your time. So people who retire, and retire effectively, actually find ways of creating meaning and building relationships in retirement. So that could be saying, you know what I’m going to do? I’m going to retire from my job, but I’m going to continue to consult, or I’m going to do volunteer, work in my community. I’m going to do things that give me meaning, that I haven’t had the time to do earlier in life. And this is going to be really meaningful for some people that could be writing a book, for some people that could be gardening, for some people that could be tutoring or mentoring or consulting with non-profit organizations – using the skills that you developed in your professional life as a way of giving back to younger colleagues or in your community – or in other sorts of volunteer organizations that you care about.”

On the Importance of Relationships

“It’s also really important for people in retirement to make sure they are actively building relationships. That could be maintaining relationships with former colleagues, but it could also be establishing new relationships with friends, with neighbors, with family members. And it doesn’t matter who those relationships are with. What matters is that we know relationships are a tremendously important aspect of our lives and building and maintaining good relationships in retirement may require a little bit of extra effort because you don’t just go to the office and see everybody. In some ways, of course, we’ve all had to work on developing those kinds of skills during the Coronavirus pandemic, in which many people couldn’t go to the office and see people or many people couldn’t go to school and see people or in other environments. So in a sense, the Coronavirus pandemic has given us a chance to practice how do I develop skills in terms of maintaining and building relationships with people, even when I can’t actually see them and interact with them in my day-to-day life. ”

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Podcast Episodes You May Like

Chatter & Your Inner Voice – Ethan Kross

The Mind-Body Connection and The Rabbit Effect – Kelli Harding

Successful Aging – Daniel Levitin

Why Settle for Happiness in Your Retirement? – Emily Esfahani Smith

How Can You Be Better with Age? – Alan Castel

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About Retirement Wisdom

You haven’t worked this hard for so long to have a mediocre post-career life.

It’s your time. Make your new life special.

Work one-on-one with our Certified Designing Your Life Coach to explore alternative visions of your future and develop the pathway that’s right for you.

Take the first step toward your next life.

Our New Small Group Designing Your Life program starts in January. Schedule a free call to discuss our programs and what’s right for you. It’s your time. Make it your best time.

 

 

 

There are many decisions to make in planning for retirement and a big one is where to live. Are you interested in a retirement community or plan to age in place? Will you move to be closer to family members or downsize to a place with the “livability” factors you want? What will be the right place for you? Ryan Frederick, the author of the new book Right Place, Right Time joins us to share his insights.

We discuss:

  • Why he chose to live in a retirement community in his 20s – and what he learned from that
  • Why Place is so important
  • How the pandemic is changing how people think about where we choose to live
  • A case study from his book and the lesson it highlights
  • The key factors (like livability) that make a place the right place for someone
  • The pros and cons to be aware of if you plan to age in place
  • How Design Thinking can help people choose the right place to live next
  • His advice for couples
  • His personal experience in moving his family to Austin.
  • The key trends shaping where – and how –  we’ll be living in the future

Ryan joins us from Austin.

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Bio

Ryan Frederick is the Founder & CEO of SmartLiving 360 and the author of the new book Right Place, Right Time: The Ultimate Guide to Choosing a Home for the Second Half of Life.

Ryan is focused on the intersection of healthy aging and the role of place, including housing. SmartLiving 360 helps institutions and individuals thrive in the Age of Longevity by providing consulting services, real estate development services, and consumer content.

Ryan is recognized as a national thought leader and innovator in the real estate development and healthcare services industries and is a keynote speaker, instructor, author, and blogger. His work and insights have been cited in Forbes, The Washington Post, and Environments for Aging, among other outlets. His real estate development in Rockville, MD, The Stories at Congressional Plaza, is an age-friendly apartment community that has attracted national attention. Mr. Frederick is a member of the National Advisory Board for the School of Nursing at Johns Hopkins University, a member of the AgingWell Hub, a collaborative of leading innovative providers in the field of aging led by Phillips, and has been appointed to the Advisory Council of the Bipartisan Policy Center Health and Housing Task Force. He is a 2018-2019 Encore Public Voices Fellow.

Mr. Frederick is a graduate of Princeton University and the Stanford Graduate School of Business.

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For More on Ryan Frederick

Right Place, Right Time: The Ultimate Guide to Choosing a Home for the Second Half of Life

Blog 

The University of Michigan Study on Purpose and Longevity mentioned on the podcast

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Wise Quotes

On the Importance of the Right Place

“It makes it easier to be socially connected, be physically active, be financially secure for a longer life. And then it has a direct effect because in some cases you may be in a physical place that you might be emotionally connected to or not. Or you might have some physical limitations and you may find a place that may not be appropriate for you. So I think it’s so important that Place should be on the same level as eating well, exercising, and financially planning for longevity. It’s right up there as we think about planning for a longer life. And it starts with a vision of what you want your life to look like. And then how does Place help enable that to happen?”

On Happiness and Longevity

“When you look at the research of a longer life, and we don’t hear this much in the media, but there’s something called the U-shaped Happiness Curve based on people’s self-reporting of their well-being and happiness. You’re at a certain level in your 20s, then you kind of go down for a stretch. And then your late 40s, early 5os is the nadir in the US. I like to think it’s correlated to having teenagers in the house. And then it goes up and there’s a pretty steep, upward slope to the point in your 70s and 80s, when you’re happier than you were in your 20s. So this idea that you’re happier later, and that people that are able to live that long, is not part of the narrative we find in our popular culture. It seems much more about youth. So I think one of the first things is to take a step back and just envision, What do you want these future chapters to look like? And the planning is worth it. It is one of the key elements here. So as you think about financial planning for a longer life, what is that visioning planning that you have?  That’s where it starts. And I encourage people to really think big about this.”

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Podcast Episodes You May Like

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

Design Your Life and Get Unstuck – Dave Evans

The Future You – Brian David Johnson

Are You in the Driver’s Seat? – Cindy Cox-Roman

Why Retirement is About Much More Than Money – Ted Kaufman & Bruce Hiland

What Can You Do to Age Better? – Anna Dixon

Related Blog Post

Where to Retire? Think Livability

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About Retirement Wisdom

You haven’t worked this hard for so long to have a mediocre post-career life.

It’s your time. Make your new life special.

Work one-on-one with our Certified Designing Your Life Coach to explore alternative visions of your future and develop the pathway that’s right for you.

Take the first step toward your next life. Schedule a free call to discuss our programs and what’s right for you.

When you’re learning something new, it’s helpful to understand both theory and practice. Planning for retirement is no exception. What can we learn about life in retirement from those who planned well for retirement (and wrote excellent books about it) – and are now living it?

In this new installment of a series of panel discussions with our most popular previous guests, we’re joined by Fritz Gilbert, Dr. Barbara O’Neill, and Mark Shaiken (you’ll find their bios below).

We discuss:

  • Their lessons learned about life in retirement so far
  • How they’re investing their time now versus their full-time working years
  • What do they know now that they wished they did then
  • What they learned about themselves by writing a book about retirement
  • The ingredients for a Good Life today
  • Their advice for pre-retirees who are planning for retirement now

Dr. Barbara O’Neill joins us from Florida, Fritz Gilbert from Georgia, and Mark Shaiken from Colorado.

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Bios

Fritz Gilbert is the author of The Keys to a Successful Retirement. He retired after more than three decades in corporate America, where he progressed through the various levels of a multinational corporation serving the global aluminum industry. His award-winning blog “The Retirement Manifesto” is focused on people achieving a great retirement. Fritz and his wife, Jackie, live in a cabin in Blue Ridge, Georgia, an Appalachian Mountain town where they’re active in their local church and various local charities, including Jackie’s charity Freedom for Fido (FreedomForFido.com). When he’s not writing, Fritz enjoys spending his time outdoors and is an avid fly fisherman, mountain biker, hiker, camper, photographer, and fitness fanatic. He also cherishes his daily walks in the woods with their four dogs, who run the household. Fritz and Jackie also travel cross country in their RV to visit their daughter and her family in the Pacific Northwest.

Previous Visits:

The Keys To A Successful Retirement – Fritz Gilbert

The Soft Side of Retirement – Fritz Gilbert, The Retirement Manifesto

Website 

 

Barbara O’Neill, Ph.D, CFP®, CRPC®, AFC, CHC, CFEd, CFCS, CPFFE, is the author of Flipping the Switch: Your Guide to Happiness and Financial Security in Later Life.

As the owner/CEO of Money Talk: Financial Planning Seminars and Publications, Dr. Barbara O’Neill, CFP®, AFC®, CRPC®, writes, speaks, and reviews content about personal finance. A Distinguished Professor Emeritus at Rutgers University, after 41 years of service as a Rutgers Cooperative Extension educator and personal finance specialist, Dr. O’Neill has written over 160 articles for academic publications and received more than 35 national awards and over $1.2 million in grants to support her financial education programs and research.

Employed by Rutgers since 1978, she provided national leadership for the Cooperative Extension programs Investing For Your Future and Small Steps to Health and Wealth™ for over a decade. Part of her work time is bought out to provide personal finance training for military family service professionals (for the eXtension Military Families Learning Network) and for New Jersey financial educators as part of a state Department of Education contract.

She is also the author of two trade books, Saving On a Shoestring and Investing On A Shoestring, and co-author of Money Talk: A Financial Guide for Women.

She is a certified financial planner (CFP®), chartered retirement planning counselor (CRPC®), accredited financial counselor (AFC), certified housing counselor (CHC), and certified financial educator (CFEd). She also holds the CFCS (certified in family and consumer sciences) and CPFEE (certified personal and family finance educator) credentials from the American Association of Family & Consumer Sciences (AAFCS).

Dr. O’Neill received her Ph.D. in family financial management from Virginia Tech, a master’s degree in consumer economics from Cornell University, and a bachelor’s degree in home economics education from the State University of New York (SUNY) at Oneonta. She has received over three dozen awards for personal or program excellence, including a 2016 AAFCS Distinguished Service Award, and over $1 million in grants and contract funding to support her financial education programs and research. In 2003, she served as president of the Association for Financial Counseling and Planning Education (AFCPE).

From 1996-2000, Dr. O’Neill directed the five-year MONEY 2000™ Cooperative Extension savings and debt reduction campaign in the 1990s that resulted in over $20 million of documented economic impact nationwide. In addition, she has delivered almost 300 national/regional conference presentations throughout her career and over 70 webinars for eXtension, AAFCS, and other professional organizations. In addition to being an AAFCS board member from 2016-2019, she serves as Academic Editor of the Financial Planning Association’s Journal of Financial Planning. Dr. O’Neill is an avid Twitter user and tweets personal finance information and research findings using the handle @moneytalk1

Previous Visit:

When Will You Flip the Switch? – Dr. Barbara O’Neill

Website

Forty-one years in the law and then one day, no more law, just like that.

After retirement, Mark Shaiken authored: And… Just Like That: Essays on a life before, during, and after the law. Mark is a survivor of a decades-long career in the corporate bankruptcy trenches. He sat for 10 years on his law firm’s board of directors and was a member of its strategic planning committee. He holds his B.A. from Haverford College and received his J.D. from Washburn University. He is a graduate of the Colorado Business Committee for the Arts’ Leadership Arts program. He holds seats on Art Boards, sits on Habitat for Humanity, Metro Denver’s audit and finance committee, and is a member of the Downtown Denver Partnership’s Mobility and Housing Councils. He now measures his life by what he gives and enjoys that immensely. Mark has published his second book Fresh Start a bankruptcy novel.

Check out the book trailer 

Previous Visit:

A Second Act after The Law – Mark Shaiken

Website

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Wise Quotes

On Purpose

“I looked at five years out as sort of a trajectory assessment point. It was hard to imagine at that point what my life would be like if I wasn’t going to be a lawyer anymore. And I look at that as an opportunity to sort of look at what my career was and decide whether this is my career was plateaued, whether it was going to continue in an upward mode, whether it was starting to trend downward because in a law firm, eventually everyone plateaus. And then there’s a trajectory downward, which may also exist in corporate America, but it’s palpable in a law firm. There was a point at which things just naturally start to happen in a law firm. And the older population in the firm is going to start to trend downward and the younger population is moving up in the ranks, which is all good and natural. But the trajectory for me was important because if you’re resisting the trending downward, then you’re also potentially resisting the notion of thinking through what you will do next in life. If you’re at the top of the world or in that case, the top of the law firm, and you’ve plateaued, you’re going to be there for a while. You don’t tend to necessarily think about all of that, but I think it is important to step back and say, I’m going to start trending downward. I’m going to start to scale back on the number of hours I really want to spend as a lawyer. And what does all that mean? And it’s better to have that discussion with yourself when things are going great…So in other words, on your own terms, have that discussion. And the one year out for me, the one year out was to really get much more serious about what I was going to be doing thereafter. So I guess from five years out to one year out, I was able to start to focus a lot more on the things that I use, an overused phrase, the things that would give me purpose.” – Mark Shaiken

On Planning How You’ll Invest Your Time

“I think one thing that people should kind of look at is just thinking what a typical day will look like for them. And I think many people don’t do that and they leave the workforce and they have no idea what they’re going to do. So the more you can be thinking about what is that structure that Fritz was talking about the structured time and the unstructured time. What are some things you’re going to fit into that? I think that would make for a much easier transition because I’ve seen a number of people here in my community that just seem kind of adrift. And I don’t think they really took the time to think about what they would be doing once they left the workforce.” – Dr. Barbara O’Neill

“Recognize that the non-financial areas need as much planning as the financial. Most people focus on the financials. You have to have the financials – they’re necessary, but I would argue they’re not sufficient. You need to do the planning on the non-financial side as well. It’s interesting. Most of this discussion we’ve had is focused on the non-financial aspects because we’re all now retired. And I think once you get into retirement, the financials become less important and the non-financial side arguably becomes more important. But that’s for each individual to determine for themselves. But on the non-financial, one thing that I would add to what Barb said is to make sure, if you’ve got a spouse, you’re looking at it as a partnership. It’s a big change for both of you. make sure you’re talking as you’re preparing for retirement, how are you going to handle it. How much time do you want to have together? How much time do you want to have apart?  I call it Me time, We time, and She time in my mind. And it’s basically, you want to have the freedom to go do things that you want to do. She wants to have the freedom to go do the things that she wants to do. And neither one of you should feel guilty about that.” – Fritz Gibert

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Podcast Episodes You May Like

Why Retirement is About Much More Than Money – Ted Kaufman & Bruce Hiland

Advice for Successful Career Women Transitioning to Retirement – Helen Dennis

The Future You – Brian David Johnson

Your Retirement Won’t Come with a Road Map – Carol Hymowitz

Ready to ROAR? – Michael Clinton

If You Love Your Work, What Challenges Will You Face in Retirement? – Michelle Pannor Silver

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