Podcasts Archive - Page 52 of 70 - Retirement Wisdom

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Does your retirement planning account for caregiving? Will you be a caregiver? Who will be your caregivers?

We talk with expert Joy Loverde about what you should include in your retirement planning.

Joy joins us from Chicago.

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Bio

Joy Loverde has a reputation for being a path carver and visionary. Joy is the author of the Who Will Take Care Of Me When I’m Old? and the best-seller, The Complete Eldercare Planner. The American Medical Association says, “It’s the best book we’ve seen.”

With over 30 years experience as a media spokesperson, Joy’s appearances include the TODAY Show, Good Morning America, CBS Early Show, ABC News, Fox News, National Public Radio, SiriusXM, and others.

During her career, she has been quoted in the Wall Street Journal, TIME, Money, New York Times, U.S. News & World Report, Reuters, Reader’s Digest, Family Circle, Psychology Today, Good Housekeeping, among others. USA TODAY ran a four-part series on Joy’s eldercare programs.

Joy specializes in keynotes for family members and professionals including employers, women’s groups, centers for healthy aging, associations, law firms, financial institutions, alumni associations, senior housing, health care providers, and retreat centers and others.

A seasoned on-camera professional, product endorsements include GoodFeet, Estate Inventory Services, Age Without Borders, Energizer Battery Company, Boomer Living, American Senior’s Housing Association, and a host of other products and services.

With a focus on the mature-market population, Joy serves as a marketing and media consultant to senior housing, HR professionals, attorneys, financial planners, clergy, and other members of the fast-growing eldercare industry.

Joy’s work has taken her to every corner of the world where she has personally interacted with thousands of family members and professionals in the field of aging. She also loves connecting with you on social media.

Wife, mom, grandmother, Cubs fan, Joy was caregiver to her parents, is married to family-law attorney, David V. Schultz, is grandmother of 10, and resides in Chicago.

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Wise Quotes

On Thinking Like a Strategist

“Well, first of all, people don’t know what thinking like a strategist is. So what I like to do is just break open that can of worms by saying critical thinking is really the practice of changing your perspective.  If you just continue to think the way you always have, it might just keep you in that little box and nothing will really change in your life. So the idea about thinking critically just breaks that wide open. So here’s how I do it. I talk to people who are very different than me, different cultures, different careers. And I ask them questions that scare me because they will have a whole different idea about things that might pertain to aging. That is quite scary. So I talk to people who are different. I also talk to people who are young and people who are old. And one of my favorite advisors is my eight-year-old granddaughter. And I ask her this question all the time. I say, what would you do if you were me? So that is what I mean by thinking strategically.”

On Caregiving

“If you’re going to be a caregiver, the number one rule is to get a financial planner for yourself because the expenses of being a caregiver can be quite emotional. So if we find out that mom or dad is running out of money, most caregivers, because they’re so loving and wonderful, start to dip into their own pockets and they start shelling out money and really jeopardizing their own retirement. So the number one thing that people need to do, if they anticipate being a caregiver, is to get a financial planner. Find out how much money you have, find out what your parents have or the person you’re caring for. And then go from there, do not go into this blindly when it comes to financial planning. As far as I’m concerned, this is one of the most rewarding jobs there is. And I wrote in my first book, it’s a responsibility that is difficult at best, and yet the rewards are priceless. No one comes away from the experience the same as when they started. And as we go to our elders and we listen to them, we may not realize it in the moment, but we will receive riches in return. I honor caregivers every day in my life.”

On Intergenerational Relationships

“People know by the time they reach their later years, that the world is fraught with problems. And that if we back up and we take ourselves out of the picture, then how are we helping the next generations? It’s just really important for us to be a part of the solution and not think that playing golf 24/7 and sitting poolside is the way to go. People regret not staying involved.”

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For More On Joy Loverde

Who Will Take Care of Me When I’m Old?

Website

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Podcast Episodes You May Like

Life’s Big Decisions – Adrian Camilleri

Retirement Planning Includes Getting Good at Getting Older – Rabbi Laura Geller

Some Kind of Heaven – Lance Oppenheim

Advice for Successful Career Women Transitioning to Retirement – Helen Dennis

Successful Aging – Daniel Levitin

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

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About Retirement Wisdom

We help people who are retiring, but not done yet, discover what’s next.

A long retirement is a terrible thing to waste. And a meaningful retirement doesn’t just happen by accident.

We help you design the life and/or the second career you want.

Schedule a call today to discuss how we can help you.

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Explore retirementwisdom.com

Some key life decisions can have consequences that reverberate for years. And as you plan for retirement, there are big decisions ahead. What lessons can we learn from emerging research on how to make big decisions? Our guest, Dr. Adrian Camilleri, has engaged 657 Americans (from 20 to  80) on the ten big life decisions they’ve made so far.
Dr. Camilleri joins us from Australia.

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Bio

Dr. Adrian Camilleri is a senior lecturer in marketing at the University of Technology Sydney. He holds a bachelor’s degree in psychology, a Master’s degree in organizational psychology, and a Ph.D. in psychology, all from the University of New South Wales. He completed postdoctoral training in management and marketing at Duke University’s Fuqua School of Business. Adrian is an expert in the fields of cognitive, organisational, and consumer psychology.

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Wise Quotes

On Big Career-Related Decisions

“One of the categories of big decisions that I focused on was career-related decisions. And so these involve questions like starting a new job, quitting a job, starting a business, closing down a business, joining the military, leaving the military, and then retirement. And so when important results from the interviews that I conducted was to look at how these different categories of big life decisions changed between those of different age groups… So leaving a  position is also often a very big life decision…And obviously, these career-related decisions culminate in what’s usually the final career-related decision. Quite a number of people. who are about the age of 60, in my survey, had actually decided to retire.  So retirement is certainly one of life’s biggest decisions for those who have managed to the point where they’re considering concluding their working career. More than half of those above the age of 60 years old had mentioned explicitly retirement as one of their biggest life decisions…So, when we look at lifestyle satisfaction, those who had already retired, who made that big decision, rated high on life satisfaction compared to those who are not [retired]. Now again, I put the sort of caveat on correlation data. So it could be that those who are already happy with their life are much more likely to retire. But there’s something to be looked at there because I have seen all the research suggesting that those who retire, many of them end up kind of feeling aimless and bored, even unhappy.”

On Self Development Decisions

“And what we see is that self-development type decisions don’t frequently make it onto the list of biggest life decisions, but they do tend to increase over time. So those who are in their sixties and seventies tend to be making more self-development decisions than those who are younger. And as I have mentioned, these self-development decisions tend to be ones that are evaluated more positively. Another follow-up question that I asked participants was how much time did you spend thinking about the decision before you made it? And there’s a nice contrast here between self-destructive and self-development decisions. So those who are making these self-destructive decisions such as committing a crime, taking drugs or something like that, were often thought about for seconds, perhaps minutes. In contrast, self-development decisions were often thought about for months, if not years. And we can think about these self-development decisions in terms of the more positive ones, like pursuing your religion or philosophy or engaging a new hobby or learning a new skill. But certainly reading through the stories that I was presented within these survey results, there were a number of people who were of age 60 and older, who had big life decisions related to seeking treatment. So whether they were deciding to get an operation or to do with cataracts, or arthritis or whether to get a knee replacement or not ”

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For More on Dr. Adrian Camilleri 

The Conversation.com: I asked hundreds of people about their biggest life decisions. Here’s what I learned

Psychology Today: How to Make a Good “Big” Decision

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Podcast Episodes You May Like

The Skill Set for Life’s Transitions – Bruce Feiler

Retired, But Not Done Yet – Dr. Cynthia Barnett

Design Your Life and Get Unstuck – Dave Evans

With the Freedom to Retire, Where Will You Plant Your New Tree? – Don Ezra

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

How Life Hacks Can Help Make Your Retirement the Best Time of Your Life – Sam Horn

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About Retirement Wisdom

We help people who are retiring, but not done yet, discover what’s next.

A long retirement is a terrible thing to waste. And a meaningful retirement doesn’t just happen by accident.

We help you design the life and/or the second career you want.

Schedule a call today to discuss how we can help you.

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Explore retirementwisdom.com

 

 

What was your career plan when you were graduating from college? You probably didn’t leave college equipped with the skills to make a career change midlife. So if you’re considering a second career, a career change at 50 or a career change at 60, our guest today has valuable information you’ll want to hear. If you have family members, colleagues, or neighbors who ask you for career advice, you’ll find this conversation very helpful.

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Bio

Mark Herschberg is the author of The Career Toolkit, Essential Skills for Success That No One Taught You. From tracking criminals and terrorists on the dark web to creating marketplaces and new authentication systems, Mark has spent his career launching and developing new ventures at startups and Fortune 500s and in academia. He helped to start the Undergraduate Practice Opportunities Program, dubbed MIT’s “career success accelerator,” where he teaches annually. At MIT, he received a B.S. in physics, a B.S. in electrical engineering & computer science, and a M.Eng. in electrical engineering & computer science, focusing on cryptography. At Harvard Business School, Mark helped create a platform used to teach finance at prominent business schools. He also works with many non-profits, including Techie Youth and Plant A Million Corals. He was one of the top-ranked ballroom dancers in the country and now lives in New York City, where he is known for his social gatherings, including his annual Halloween party, as well as his diverse cufflink collection.

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Wise Quotes

On Career Changes Midlife

“This is my third recession and I’m only mid-career. So I, I very much see and understand what they’re going through. In fact, during the great recession, I helped teach at a program sponsored by New York’s Economic Development Council, in which we were taking people who lost not simply their job, but their career. Their entire career was getting displaced and not coming back post-recession. And New York said to us: We can’t have them sitting on the sidelines. These are capable people. How do we get them back to work? We looked at where the jobs were being created and the nature of those jobs, typically the people being displaced were coming from large corporations. So certainly coming out of 2008, 2009, lots of financial services, lots of big companies where you had multiple layers of bureaucracy. The jobs being created were in tiny companies in startups, in companies, less than 50 people, sometimes less than 20 people. The biggest change was trying to get people to see those jobs and feel comfortable in those jobs. It wasn’t so much a domain skill challenge. It’s not that. If you’ve been at big corporations, your whole life, look at these small companies and then recognize that cultural difference.

So if you’re in a big company of 30,000 people, you’re used to having the pre-meeting to plan the meeting, to coordinate the meeting for the meeting to discuss something. So at six months later, decisions made when you’re at these tiny 20 person startups, and you say, Hey, I have an idea. So you turn around in your chair and you’re talking to the boss, who’s sitting three feet from you in another chair because there are no offices here.  And the boss says, okay, that sounds great. Well, that was the meeting. Those were the six months condensed to a six-minute conversation and understanding these cultural differences, how the businesses operate, that you can move fast and break things, which is very different from these big traditional corporations. That was the biggest challenge. And so to people who are saying, I need to find something different. It’s not just the same job with a different company. Look at different types of companies and understand it’s not just going to be the mechanics of the role, but understand the cultural differences. And if you can set yourself up to succeed in that, both recognizing how you’ll operate, but also how you sell yourself into working in those networks, in those types of organizations and cultures, then you can have a very successful career and find a lot of options.”

On Career Planning

“Eisenhower famously said: Plans are worthless, but planning is everything. And we have to recognize a career plan is not simply a plan you make and now you’re stuck to it. Forevermore, all of us in our jobs have been planning. If you think about any project you’ve worked on, could you ever have gone to your boss and said, Hey, listen, boss, I know we’re going to work on this for six months. We’re not going to bother with a project plan. We’re just going to kind of wing it. That sounds good to you because your boss is going to say No way! You have to create a plan. I want to know where this is going. What are the risks? What are the opportunities? How might this unfold? Now we also know when you’re doing this six-month project or a year-long or however long project, it’s never going to work exactly.

As you expected, things go over budget over time. Something was harder. Occasionally something’s easier. But when you have that plan, you can start to say, Well, we’re going to now vary the plan. We’re going to update the plan. We’re off the plan. But maybe that’s a good thing because we realize that plan was wrong. But you created that plan in the first place. Your career is a lot bigger than a six-month project. You need to create that plan, but much like the plans, we have for our projects, you’re not set in stone. If it’s not working, you can throw it out. You can create a new plan and the act of planning itself of thinking about what are the risks, what are the opportunities? Where are the things I need to focus on? Where are the areas that are less important now, as things change now, as things come up, as you’ve thought through it.”

On Networking

“You want a large network. You also like a broad network, too many people think, well, I’m in Medicine. So I only need to know people in Medicine. In fact, you want to meet people in other areas because the diversity, it adds to your network leads to new opportunities that you might not have gotten otherwise. Because remember when you’re connected to someone you’re connected to everyone they know. And you never know when you need to get into a new area where you don’t have yourself, a deep bench, or maybe it just turns out this person, their cousin happens to also be in medicine and it circles back to how it can help you.

But the biggest mistake people make is they just think, Well, I’m just going to add connections and they don’t foster that relationship. I always talk about how adding someone on LinkedIn and saying that they are now in your network. It’s like swiping right on Tinder and saying this person’s now your significant other. We all know you can’t just swipe right. And say, now I have a girlfriend, now I have a wife, right? You have to build that relationship. And the same is true for our professional relationships. So that instant connection that gang, the business card or adding on LinkedIn, that’s step one. That’s a swipe, right? What you want to do is invest in building that relationship. Now you may not have done that in the past, but you can start doing that today. And it doesn’t take that long. Even a few months of starting to build up that relationship.

Now that network is warmed up. So when you need help down the road, whether finding a job, finding a candidate, finding a supplier, a partner, just getting information, that network has been warmed up and now you can go to it. And you’re not reaching out to someone you haven’t talked to in 20 years. It’s someone you last spoke to three months ago. So start today, reach back out to people. It’s a great time. Now, as we’re getting out of the pandemic, reach out and say, Hey, glad we’re getting through this. How are you doing? What’s coming up for you? How can I be of help? And even if you’re not working, even if you don’t have a job, we can all be of help to other people. So reach out connect, say, how have you been? What are you looking forward to? How can I be helpful to you and warm up those networks?”

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For More on Mark Herschberg

The Career Toolkit: Essential Skills for Success That No One Taught You

(in my opinion, this is an excellent graduation gift to consider

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Podcast Episodes You May Like

How’s Your Network? – Kelly Hoey

How to Future Proof Your Career – Jeff Gothelf

How to Build a Portfolio Career – Kate Schaefers

Design Your Life and Get Unstuck – Dave Evans

I’m Not Done. Are You? – Patti Temple Rocks

Best of The Retirement Wisdom Podcast – On Second Acts

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We help you balance your retirement planning. No other podcasts cover the non-financial side of retirement planning as in-depth.

Here’s a recap of what we learned in the second month of our 4th season of The Retirement Wisdom Podcast talking with:

  • Barbara O’Neill, A Distinguished Professor Emeritus at Rutgers University and author of Flipping the Switch: Your Guide to Happiness and Financial Security in Later Life.
  • J. Kelly Hoey author of Build Your Dream Network.
  • Lance Oppenheim, a filmmaker from South Florida, on his first feature film: Some Kind of Heaven

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You can listen to the full conversations here:

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

How’s Your Network? – Kelly Hoey

Some Kind of Heaven – Lance Oppenheim

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About Retirement Wisdom

We help people who are retiring from their primary career – and aren’t done yet –  discover what’s next.

A long retirement is a terrible thing to waste. And a meaningful retirement doesn’t just happen by accident.

Schedule a call today to discuss how our Designing Your Life® coaching programs can help you make yours great.

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Explore retirementwisdom.com

 

What are your images of retirement? How do you picture yourself enjoying your hard-earned freedom? It’ll take savvy holistic planning to achieve your vision. It starts with holistic financial planning, but it includes planning for the non-financial aspects as well. Trusted advisors can be valuable assets in your holistic planning for retirement.

Our guest is Chad Willardson, President, and Founder of Pacific Capital.  I talk with Chad about his observations on retirement planning and:

  • Why he founded Pacific Capital
  • Why he does what he does
  • What key differences he sees between people who are successful in retirement and those who struggle
  • Common mistakes to avoid in planning for retirement
  • What surprises his clients most about life in retirement
  • The challenges entrepreneurs face in planning for retirement
  • What people should look for in a financial advisor
  • Key takeaways from his book Stress Free Money – and a preview of his upcoming second book

Chad joins us from Southern California.

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Bio

Chad Willardson is the President and Founder of Pacific Capital and is a Certified Financial Fiduciary®, Accredited Wealth Management Advisor and Chartered Retirement Planning Counselor. Before founding Pacific Capital, he spent 9 years at Merrill Lynch, where he ranked in the top 2% of over 16,000 Financial Advisors nationally. Chad is the author of the Best Selling Book: Stress Free Money: Overcome These Seven Obstacles to Find Financial Freedom. Chad is passionate about financial education and believes that with the right tools and resources, people can be empowered to make smart money decisions. He loves to help people organize their financial life, clarify their goals, and make decisions that lead them to a successful and fulfilling life. A native of Orange County, CA, Chad and his wife of 17 years live in Corona, CA with their five children.

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Wise Quotes

On Purpose & Meaning in Retirement

“People who are successful in retirement have a lot of meaning and purpose. They don’t just stop cold turkey. Most of them have other ideas or pursuits, whether it’s hobbies, businesses, charitable giving, charitable time, and spending time with their grandchildren in a productive way. I feel like the people who actually retire to something rather than retire from something are much more successful. It’s one thing to say, I’m going to stop work at age 60. It’s another thing to say between age 60 and 70 here are my 10 big goals or the big things on my bucket list that I really want to focus on. And I’ve seen people really, really thrive after they stopped their primary career and even explore new opportunities that they never thought they could do, like starting a business with a grandson or learning how to do something new, like getting into cycling or getting into art or traveling with your family. There are so many things that I’ve seen people do in retirement. That shows me that you really need to have a game plan. It’s it could be a 10,000 days journey. And to, to just simply think, well, I don’t have to do anything anymore, you’re kind of setting yourself up for failure.”

On Priorities in Retirement

“I think people, once they get to retirement, they realize that there were a lot of things they weren’t doing often enough, like self-care and taking care of their health. I’ve seen many people just work themselves so hard, work so many hours, with so much extra stress, that they’re finally able to really take better care of themselves. And relax and do things that are more fulfilling than doing something just for a paycheck. It’s definitely on the unfortunate side, but I think the healthcare costs are typically a negative surprise. It costs more than they expect on the positive side. And I feel like people are busier than they would ever have dreamed of. My parents, when I talk to them, they have a full schedule. And to me it’s sometimes it’s like Well, how do you have a full schedule? You’re totally retired. But when you go through their activity list on their calendar, they’ve got so many things that they’ve planned and committed. And they’re excited about that. They’re just doing a lot more than they ever thought they would.”

On An Exit Strategy for Entrepreneurs

“I think entrepreneurs often assume that there’ll be able to work until they are done and just easily decide and pick up and leave. But most entrepreneurs actually don’t make it to that point. There could be many reasons. It could be something that happens in their industry. If you look at COVID, many businesses have adjusted or had to be closed because of the extended restrictions on the ability to stay open. So there are a lot of things that people just don’t realize it’s not as cut and dry when your paycheck depends on you. So you’ve got to really have a plan, not only for your business and your business succession or your exit strategy but also personally, when you’re going to stop working and begin to live a retired lifestyle if you will, it’s a lot of different things to plan for. If you’re an entrepreneur, I’d say my advice for those crafting an exit strategy is to engage with professionals who have helped others transition before. So there’s no reason to try to do everything by yourself, definitely work with a team of professionals who’ve helped other people execute their own exit strategies, because there are a lot of things you don’t think of –  especially if it’s your first time selling a business or retiring. There’s going to be a lot of things that come up that you just hadn’t prepared for. And if you can seek great professional counsel beforehand, you’ll have more of a sense and you’ll have more confidence as you’re making those big decisions.”

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For More on Chad Willardson

Pacific Capital

Stress Free Money: Overcome These Seven Obstacles to Find Financial Freedom

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Podcast Episodes You May Like

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

What Are The Keys To A Successful Retirement? Fritz Gilbert

What’s Your Exit Strategy? – Ashley Micciche

Are You Ready to Follow Your Own Path in Retirement? – Bob Lowry

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

Who Will You Be in Retirement? – David Ekerdt

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About Retirement Wisdom

We help people who are retiring, but not done yet, discover what’s next.

A long retirement is a terrible thing to waste. And a meaningful retirement doesn’t just happen by accident.

We help you design the life and/or the second career you want.

Schedule a call today to discuss how we can help you.

_________________________

Explore retirementwisdom.com

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The views and opinions expressed by guests on The Retirement Wisdom Podcast are those of the guests and do not necessarily reflect the policy or position of the host or Retirement Wisdom, LLC. The Retirement Wisdom Podcast covers the non-financial aspects of retirement. From time to time we may invite guests who discuss other aspects of retirement planning, solely for educational purposes. Listeners are advised to consult qualified financial and/or medical professionals on those matters.