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What constitutes a good life? Marc Schulz, co-author of The Good Life: Lessons from the World’s Longest Scientific Study of Happiness, highlights useful insights from the Harvard Study of Adult Development, which has been running for over eight decades. You’ll hear advice you can use in building your good life.

Marc Schulz joins us from Bryn Mawr, Pennsylvania.

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Bio

Marc Schulz is the associate director of the Harvard Study of Adult Development and the Sue Kardas PhD 1971 Chair in Psychology at Bryn Mawr College.

He also directs the Data Science Program and previously chaired the psychology department and Clinical Developmental Psychology PhD program at Bryn Mawr.

Dr. Schulz received his BA from Amherst College and his PhD in clinical psychology from the University of California at Berkeley. He is a practicing therapist with postdoctoral training in health and clinical psychology at Harvard Medical School.

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For More on Marc Schulz

The Good Life: Lessons from the World’s Longest Scientific Study of Happiness

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Podcast Episodes You May Like

Retire Happy – Dr. Catherine Sanderson

Happier Hour – Cassie Holmes, PhD

Edit Your Life – Elisabeth Sharp McKetta

The Mindful Body – Ellen Langer

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Wise Quotes

On Relationships and Well-Being

“One is a finding that should be familiar to many of your listeners. We really want to take care of our body like we’re going to be in it for a long time. Let’s shoot for 100 years. And what does that mean? That means that we want to move our body. Exercise is good for us. We want to avoid smoking. We want to moderate our drinking of alcohol. And we also want to, particularly as we age, to go to doctors and make sure that we’re getting treatments that are important to maintain our health, because many of us develop different kinds of challenges as we get older, physical and medical challenges that are important to take care of. The study also has made important contributions to recognizing that stuff happens to all of us, that very few lives happen without adversity, and how we meet adversity, and particularly the feelings and emotions that adversity tends to engender, are really important for our health and our well -being. But the big finding, and this is the finding that we talk about most in our book, The Good Life, is that it’s very clear across this 86 years of research, and hundreds of papers, that the most important predictor of health and happiness throughout the lifespan is the quality of our relationships with others. How connected we are, how much we can rely on other support, and how much we’re able to do that are really key predictors of how happy we’ll be and how healthy we will be. And it’s all kinds of relationships. It’s not just the person who you may have been lucky enough to spend a good portion of your time with. So it’s not just our marital partners or our intimate partners, it’s friends, neighbors, people we work with, people in our communities, it’s all types of relationships that matter.”

On Social Fitness

“So we talk about this idea of social fitness as being really important. Obviously, it’s a metaphor like physical fitness and some of the lessons about physical fitness apply here. We want to, first of all, assess where we are, and to be thoughtful about where we are. And this comes from our research when we interviewed people, for example, in their 80s and we asked if they had regrets. Most of the regrets that people had had to do with losses in relationships. People that they had been friendly with, that they lost touch with, people who maybe they hadn’t been as kind to as they wish they had. And this could be the person that they were married to. It could be children. It could be people they worked with. But people talked about remorse and regret around not building and sustaining relationships over life. So we know that if we don’t attend to them, just like our muscles, our fitness in the social domain tends to atrophy. So we need to kind of lean in, be proactive about our engagement with others, and it helps to step back and assess where we are. So what’s going well in my social connection sphere? Who am I spending time with? Are those the people I want to spend time with? Who am I not spending time with that I have a strong connection or I’d like to develop more of a connection with? So that assessment is a critical part of physical fitness and it should be part of social fitness. And then it’s really about leaning into this and walking the walk. So what do I mean by that? We want to spend the time that we think is important on relationships. That means making time to talk to people regularly, to go on walks with people that we care about, to go to social engagements in which we might meet new people or sustain relationships that are important to us.”

On Paying Attention

“Attention is just so important. You learn stuff when you write books, and one of the things we learned early on when we were writing the book is the language we use around attention. We pay attention, and that suggests how much of an important resource attention is. It’s something we control or we try to control, and we can give it to people. We can lavish people with it if we prioritize them in our lives. What’s particularly important is we’re in an era where there are lots of attempts to grab our attention. So phones and technology are particularly good at grabbing our attention away from other people, and we need to proactively, intentionally focus our attention on the people that are important to us. That’s the way that we build relationships, and it’s a way we convey to others that they’re important to us. So paying attention on purpose, listening with curiosity, those are the things that are really important. For many of us in this busy world filled with technology, having the experience of being particularly in person, having someone pay attention to us is an incredible feeling. It’s sometimes something we sadly forget because we don’t have the experience enough. So really critical for people to do that. It’s something that we hope we might get from parents or grandparents. It’s a gift that people can give to others, including parents and grandparents. But it’s true in all relationships. It means really listening and being curious.”

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About Retirement Wisdom

I help people who are retiring, but aren’t quite done yet, discover what’s next and build their custom version of their next life. A meaningful retirement doesn’t just happen by accident. Schedule a call to discuss how The Designing Your Life process created by Bill Burnett & Dave Evans can help you make your life in retirement a great one – on your own terms.

About Your Podcast Host 

Joe Casey is the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your JoyHe’s an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ 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 % globally in popularity by Listen Notes, with over 1.4 million downloads. Business Insider has recognized Joe as one of 23 innovative coaches who are making a difference.

 

What’s that sound? Our guest today explains that it’s the retirement savings bomb ticking louder. Listen in and get smarter about RMDs, Roth IRAs – and the tax bomb that’s ticking louder for you.

Ed Slott joins us from New York.

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Bio

Ed Slott is the author of The Retirement Savings Time Bomb Ticks Louder: How to Avoid Unnecessary Tax Landmines, Defuse the Latest Threats to Your Retirement Savings and Ignite Your Financial Freedom.

Ed is a nationally recognized IRA distribution expert, professional speaker, television personality, and best-selling author. He is known for his unparalleled ability to turn advanced tax strategies into understandable, actionable and entertaining advice. He has been named “The Best Source for IRA Advice” by The Wall Street Journal, and USA Today wrote, “It would be tough to find anyone who knows more about IRAs than CPA Slott.”

As president and founder of Ed Slott and Company, LLC, the nation’s leading source of accurate, timely IRA expertise and analysis to financial advisors, institutions, consumers and media, he provides:

  1. Advanced training to financial professionals to become knowledgeable recognized leaders in the retirement marketplace; and

2. Answers to retirement savers’ most important questions, continually providing practical, easy-to- understand information

on IRA, retirement, tax and financial planning topics.

Mr. Slott is a Professor of Practice at The American College of Financial Services and regularly presents on IRA and estate planning strategies at both consumer events and conferences for financial advisors, insurance professionals, CPAs and attorneys, including virtual events drawing thousands of attendees nationwide. He has provided topical keynote presentations for leading financial membership organizations, including the Financial Planning Association, National Association of Personal Financial Advisors, Estate Planning Councils and the American Institute of Certified Public Accountants, as well as leading corporate financial firms coast-to-coast.

Mr. Slott is an accomplished author of many financial and retirement-focused books, including most recently Ed Slott’s Retirement Decisions Guide: 2021 Edition (IRAHelp, 2021) and Fund Your Future: A Tax-Smart Savings Plan in Your 20s and 30s (IRAHelp, 2021) with The New Retirement Savings Time Bomb (Penguin Random House, 2021). He also hosts the popular website irahelp.com as a resource for financial professionals and consumers, where The Slott Report blog is followed by tens of thousands of readers.

As the go-to resource for media on timely insight on breaking news as it relates to retirement and tax planning laws and strategies, Mr. Slott is often quoted in The New York Times, The Wall Street Journal, Forbes, USA Today, Kiplinger, Investor’s Business Daily and numerous additional national magazines and financial publications. He provides a monthly Q&A column to AARP and is also a contributing columnist and media resource to Financial Planning, Financial Advisor and Investment News magazines. He has appeared on many national television and radio programs, including NBC, ABC, CBS, CNBC, CNN, FOX , FOXBUSINESS, NPR, Bloomberg and Morningstar.

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For More on Ed Slott

Website 

The Retirement Savings Time Bomb Ticks Louder

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Podcast Episodes You May Like

An Economist’s Take on Retirement Planning – Larry Kotlikoff

The Balancing Act in Retirement – Stew Friedman

Retire Happy – Dr. Catherine Sanderson

Independence Day – Steve Lopez

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Wise Quotes

On The Retirement Savings Tax Bomb

“I think it’s reaching a point where in my latest book, I call it The Retirement Savings Time Bomb Ticks Louder, in big letters, because I’m worried this ticking tax time bomb, if you can say that three times fast. The ticking tax time bomb you asked me about is simply the tax bill growing inside your IRA. It’s like the movie Aliens where it’s growing and growing inside, but you don’t see it because you see your IRA balance going up and up – and you say, Well, that’s good. But a lot of that is owed right back to the government. I always say your IRA is an IOU to the IRS. It’s a debt growing. That’s what it is, like a mortgage on your home. You have a mortgage on your retirement savings. The reason, and that’s the tax building up. And I call it a ticking tax time bomb because we don’t know when it’s going to go off, depending on when Congress gets its act together.”

On Your Joint Partner

“Even if rates stay the same, Joe, your balance is going up, and at some point, you’re going to get hit hard in retirement – at the worst possible time. People think their retirement savings is theirs. But if you look at the word theirs, it spells the IRS. Look at the word theirs, T -H -E -I -R -S. People think just because you get a statement on your monthly or quarterly, whenever you look at it online, that you think that’s your money because your name is on there. Well, there’s a hidden partner on there. It’s like a joint account. Can you imagine if somebody told you your IRA was a joint account with Uncle Sam? Now, most people understand the concept of a joint account. You see it with husband and wife, spouses, and that generally means 50 -50. The difference with this joint account with Uncle Sam, you don’t know what his share will be based on what future tax rates might be, which I worry about being higher. So the big mistake is to be lulled into this false sense of security that you think all of that money will be spendable in retirement. It won’t.”

On Roth IRAs

“The key item is, I always like to say, move your money from accounts that are forever taxed, tax deferred, to never taxed. Tax-free. That’s the promised land. That’s where you want to be. The Holy Grail, where you never have to worry about the uncertainty of what future higher taxes can do to your standard of living in retirement. So the big message is, if you’ve been saving the wrong way – but that’s how we were taught, saving in IRAs, putting money in 401(k)s – you’re just building a bit of a tax bill for IRS and yourself. Instead of that, start going the other way. Now, this is counterintuitive because I’ve been saving, I’ve been accumulating my whole life. Why should I go the other way? I want to keep building. I’m still working. I’m getting closer to retirement. I want to put the pedal to the metal. Don’t do that. Don’t add any more money. Focus on getting that money out. One alternative, one suggestion, a strong suggestion: convert to Roth IRAs. What does that mean? Take some of that money down now, even before retirement, especially if you’re in your sixties, that’s a sweet spot before you’re forced to take it out at 73 and move it to a Roth. And then it grows tax free for the rest of your life. Now that sounds simple. So the question is why wouldn’t everybody do that? And you know the answer, right, Joe? The answer is you have to pay tax. There’s a toll and nobody wants to pay the tax upfront. And that’s short-sighted. But I’m telling you now is the time to pay taxes while rates are at historic lows. The key to saving money in taxes, and you can save a fortune, tens of thousands, hundreds of thousands, even millions, depending on how much you have saved, just with good tax planning.”

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About Retirement Wisdom

I help people who are retiring, but aren’t quite done yet, discover what’s next and build their custom version of their next life. A meaningful retirement doesn’t just happen by accident. Schedule a call to discuss how The Designing Your Life process created by Bill Burnett & Dave Evans can help you make your life in retirement a great one – on your own terms.

About Your Podcast Host 

Joe Casey is the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy. He’s an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ 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 % globally in popularity by Listen Notes, with over 1.4 million downloads. Business Insider has recognized Joe as one of 23 innovative coaches who are making a difference.

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The views and opinions expressed by guests on The Retirement Wisdom Podcast are solely those of the guests and do not reflect the opinion of the host or Retirement Wisdom, LLC. The Retirement Wisdom Podcast primarily 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.

Make no mistake. There’s a lot you can’t control about your retirement. The economy. The markets. That neighbor. But there is something you can control that will make a big difference in your quality of life. Your mindset. Michael O’Brien shares his compelling story and how he learned how to prevent bad moments from turning into bad days.

Michael O’Brien joins us from the Garden State of New Jersey.

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Bio

Michael O’Brien is President and Founder of Peloton Coaching and Consulting. As a certified executive coach, he has advised, motivated, and inspired Fortune 500 executives, entrepreneurs, and other difference-makers at organizations like Brother International and Johnson and Johnson. He also serves as a mentor and volunteer with organizations that promote professional growth, such as the Healthcare Businesswomen’s Association and James Madison University’s College of Business. Before starting Peloton Coaching and Consulting, he was a healthcare sales and marketing executive and received his marketing degree from James Madison University. He lives in New Jersey with his wife and two daughters.

Michael is the author of two books, his inspiring memoir: Shift: Creating Better Tomorrows: Winning at Work and in Life and the companion work, My Last Bad Day Shift: How to Prevent Bad Moments from Turning into Bad Days: a practical and powerful guide to lead a life free of bad days.

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For More on Michael O’Brien

Shift: Creating Better Tomorrows: Winning at Work and in Life

My Last Bad Day Shift: How to Prevent Bad Moments from Turning into Bad Days

Website

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Podcast Episodes You May Like

Self-Compassion – Dr. Kristin Neff

The Mindful Body – Ellen Langer

Living Like You Mean It – Jodi Wellman

Taking Stock – Dr. Jordan Grumet

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Wise Quotes

On His Last Bad Day

“But as I went through my recovery, I tried to put up this good front, like, Okay, we’re going to make it. But I wasn’t believing any of my hype. A mentor came to me and said, Hey, listen, everything in your life is neutral until you label it. You get to look at this any way you want to. And so then I started to realize, Okay, well, we’re all living moments. Every day is filled with a whole bunch of moments. And if I have people in my life who I love and love me back, then I can’t call a full day a bad one. That’s why I came back to call my, that accident day, my last bad day. I’ve had definitely bad moments since then, but I still have a lot of love in my life. So I can’t call a full day a bad one. But I also knew this, that I had to find a way to ground myself because my recovery felt so overwhelming. I had to figure out, much like in sports, how to slow the game down. Everything was just coming at me, much like life today. And I just knew I had to slow things down a bit to create some space so I could be thoughtful and intentional about how I wanted to go forward.”

On Who You Surround Yourself With

“I think it’s very important to surround yourself with people who bring out the best in you. And I think this is a big thing because for a lot of us men, especially as we think about retirement, a lot of our relationships are work relationships that we think those guys are our friends, but they’re really our colleagues. And some of them are friends, and they’ll stay friends for a while. And I think it’s very important to surround yourself with people who bring out the best in you. But it’s a minority of the relationships we have, maybe on one hand or both hands. So as we go into this next phase of our lives, into retirement, men or women, it’s good to have people around you who can bring out the best in you, to help maybe clarify things when you get stuck or challenge you so you can be the best you can be – or to be there in celebration or to be there for a crisis or some type of comfort. So that’s helpful because the people around you can help shift your perspective around change.”

On Gratitude

“I think a gratitude practice is key, so to be grateful is one of the 20 [lessons]. I didn’t know anything about gratitude, except maybe around Thanksgiving – give thanks. But we didn’t use the word gratitude. During Thanksgiving, when I was growing up, my parents weren’t tuned into that it was like, Well, where’s the turkey? Come on, let’s eat, watch the game. And so I didn’t know about gratitude until really coming through my accident recovery. Gratitude is really a process of understanding what you still have and what’s working in your life. And when you go really deep, you can even be grateful for some of the tough moments because our tough moments tend to give us the most growth – not guaranteed, but a lot of times. And a lot of people will say to me, Well, if you’re grateful for everything, do you lose your edge? Do you lose your thirst for more? And to that I say absolutely not. You can be grateful for what you have and still be thirsty and driven for more, as opposed to leaving that your glass is always half full or like half empty. and you’re coming from that place of depletion as you go after things. For me, gratitude is about No, I have an amazing cup and it’s pretty full. It’s pretty amazing. And I’m looking for a bigger glass.”

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About Retirement Wisdom

I help people who are retiring, but aren’t quite done yet, discover what’s next and build their custom version of their next life. A meaningful retirement doesn’t just happen by accident. Schedule a call to discuss how The Designing Your Life process created by Bill Burnett & Dave Evans can help you make your life in retirement a great one – on your own terms.

About Your Podcast Host 

Joe Casey is an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ 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 % globally in popularity by Listen Notes, with over 1.2 million downloads. Business Insider has recognized Joe 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.

Retiring right requires a smart strategy. And if you didn’t get started early in your retirement planning, the second best time to start is now. Rick Atkinson, Founder & President of RA Retirement Advisors in Toronto, shares his insights and advice.

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It’s Back to School time.

Here’s your reading list to peruse:

Best Books on Retirement

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Bio

Rick Atkinson is Founder & President of RA Retirement Advisors specializing in retirement planning. For over 15 years, Rick has been helping people live their ideal retirement.

As a human resources management specialist with over 30 years’ experience in industry and government service, Rick honed his understanding of what is required to lead a satisfying life after work. He then transferred this to writing and speaking about retirement planning and facilitating workshops and coaching.

He is the author of five books including Don’t Just Retire – Live It, Love It! and Strategies for Retiring Right!

Rick has written lead stories for well-known journals, as well as stories for various daily Canadian newspapers, and has appeared on Canadian radio and TV.

Rick is an acclaimed speaker on holistic retirement planning appearing at groups from 10 to 300. He has spoken at conferences and service groups across Canada, and facilitates workshops and webinars for companies, cities, government agencies and religious organizations and service clubs.

Rick has an MBA from York University and a Bachelor of Commerce from the University of British Columbia. He is also a CHRP (Certified Human Resources Professional); CMC (Certified Management Consultant); Advanced Level, Ontario Society of Training & Development. Recently made a Fellow of Distinguished Financial Services (FDFS) for his service as an influential thought leader.

As a point of pride and growth, for 10 years, Rick travelled extensively to Canada’s Arctic as a CESO (Canadian Executive Service Organization) volunteer advisor to mentor Inuit supervisors and managers, and to impart his human resources knowledge and insights. Rick’s volunteering was part of the Government of Nunavut’s Initiative Program.

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For More on Rick Atkinson

Books

Website

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Podcast Episodes You May Like

Design Your Life and Get Unstuck – Dave Evans

Retire Happy – Dr. Catherine Sanderson

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

Ready to ROAR? – Michael Clinton

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Wise Quotes

On Deciding When to Retire

“So I think this whole piece of work stress for some, but for some others, what I found is that they have a feeling of unfulfillness –  that work is holding them back, that they’ve got things that they want to pursue, a passion project. They want to start a business,. They want to do extensive traveling. But there are others that, and I’ve had this myself, people saying, Why aren’t you retired? You’re X years old. Why are you still working? I met a couple and the wife had said to the husband, I didn’t sign up for this. He just told me he’s not going to retire. I thought we would have time together. There’s another situation that says, is this the right time? I’ve met many people who have sat down with their financial advisor and the financial advisor had said, You know what, you got enough money to keep you going well into your 90s. And they walk out of the office and say, Hey, maybe that’s it.

On Mistakes to Avoid in Planning for Retirement

“Oh, there’s a whole myriad of things that you need time to think about these and plan for them rather than just the day you retire. Another mistake that I find that people make is that they concentrate so much on the money. The recession in 2008 devastated a whole bunch of folks and their retirement monies. And to my mind, it’s not the money that you amass, but the monetary trick is how to determine how much money is going to make you feel secure. The [other] mistake that I find that people make is they think that retirement is like an extended holiday. Here’s, here’s all of the stuff I did in my golf holiday. I did the projects around the house, etc. I’m just going to do that when I retire. Well, you and I know there is a honeymoon period that happens when you retire in the first few weeks and months. This is wonderful. There’s no cares, no pressure. But that wears off and that becomes a feeling of disenchantment kind of comes in. If you’re golfing five days a week, then starts to become like a job. The projects at home don’t have any appeal anymore, and so what I find is that when people think it’s just an extended holiday, they start to feel frustrated. They feel a bit disappointed and they seem to get caught up in this vortex they can’t get out of.”

On Attitude in Retirement

“And that is the number of people that go into retirement with a negative attitude. They see themselves as non-productive, non-contributory, life is over, and as you know, it takes courage to have a good retirement. It takes commitment. It takes desire. And we’ve got to remind ourselves all of the things that we have been successful at. We were successful at getting an education, raising a family, holding a job. And those things all seem to be hard to us, but we did it. So why not the same positive attitude into retirement?”

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About Retirement Wisdom

I help people who are retiring, but aren’t quite done yet, discover what’s next and build their custom version of their next life. A meaningful retirement doesn’t just happen by accident. Schedule a call to discuss how The Designing Your Life process created by Bill Burnett & Dave Evans can help you make your life in retirement a great one – on your own terms.

About Your Podcast Host 

Joe Casey is an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ 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 % globally in popularity by Listen Notes, with over 1.2 million downloads. Business Insider has recognized Joe 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.

 

Time to take charge of your future? Design Your New Life in Retirement

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Transitioning to retirement comes with challenges. And what if you love the work you’re retiring from? That makes it harder. Our guest today, Cathy Bishop-Clark shares her experiences in transitioning to retirement – and why you’ll want to have a retirement mentor.

Cathy Bishop-Clark joins us from Ohio.

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Bio

Cathy Bishop-Clark recently retired after a 34-year career at Miami University of Ohio. She finished her career as Associate Provost of Miami’s regional campuses.  and Dean of the College of Liberal Arts and Applied Sciences. Prior to her Dean position, she was a professor in the Computer and Information Technology Department, a Department Chair, Assistant Dean and Associate Dean.

She has a bachelor’s degree in Computer Science, an M.S. in Quantitative Analysis and a doctorate in Educational Foundations.  Over a period of 34 years she taught a variety of computing classes and she has published over 40 articles and a book, most of which related to the scholarship of teaching and learning.

She enjoys exercise and new adventures including hiking, kayaking, camping bicycling, learning new things, and traveling.  A couple years ago she rode her bicycle across America.

She and her husband (who was a third grade teacher) have two adult daughters and a son-in-law.

Cathy and her husband both retired a year ago.  While her husband has excelled at retirement, Cathy has found the transition more difficult.  To help her learn about that transition she took Joe Casey’s group program, intensely studied retirement and taught a course on the topic of retirement this past Spring.

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Mentioned in This Episode

Riley Moynes

Andy Robin

Barbara O’Neill

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Podcast Episodes You May Like

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

The Power of Reinvention – Joanne Lipman

Live Life in Crescendo – Cynthia Covey Haller

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Wise Quotes 

On Having a Retirement Mentor

“…and he talked about one thing that really resonated with me that I have paid attention to – and that is having a retirement mentor. You don’t think about that right? Everybody thinks about having a work mentor. We have mentors at work and I had  done this in a way before I retired. I invited people who had retired to lunch and I said Okay what do I need to know about retirement? But the thing is everybody’s retirement journey is so different and so some would say things like There’s nothing to know about retirement. It’s it’s so easy and it’s so great and there’s nothing to learn. And other people would say Well, you know I struggled a lot with the schedule.” And so interestingly, my retirement mentor has been the same career mentor that I had and she retired about five years ahead of me. I admire what she has done and so I continue to use her as my retirement mentor.”

On Trying New Things

“So first for about a year a half, you just have a great big honeymoon. It’s just fun, fun, fun, fun, fun. And then you start looking at different things to do. And then you start feeling a loss. Well, I think I simultaneously, like on day one, jumped in on all three things simultaneously. So I did vacation, in fact, and since we retired in May, I’ve been on nine different trips and I’ve been to Colorado many times, that’s where my daughters are, Norway, Michigan, New York, Galapagos Islands. So we did lots of honeymooning and vacation. And then at the same time, I did a lot of experimentation. I took some new classes through a retirement group. I explored some new things, with my husband, we explored some new faith communities. We hired a personal trainer. I got into yoga. I started to deeply understand our financial planning. I had known it as a superficial level. And I also tried things that I had never tried before. First, I’m a computer scientist. I think very logically, I’m very analytical. And I took classes in art and history and I became certified to be a depth doula. And so I tried things that were just completely outside of my realm of possibilities.”

On the Transition to Retirement

“So vacation, experimentation – and I did feel a big loss. I felt I missed the people I worked with. I missed the structure and I really missed the work. So many people say, Oh, I miss the people, but I don’t miss the work. I miss the work. I missed thinking that deeply and working with people and working with people in the community and working with students and watching them grow. And I missed a busy schedule. I was at a position where somebody else created my schedule and I just looked at where I was going from hour to hour. And now I woke up and I didn’t have a busy schedule. I would make sure I had a few things on there. And so I had a hard time. And as I reflect on this, if you’ve spent your whole life living pretty intensely and you’ve had a pretty tight schedule and then Boom, you flip a switch and you’re supposed to just relax, of course people are going to struggle with that. At least I struggle with that. So I’m starting to settle down a little bit and I would describe it as settling down because I think the first year has been more challenging than I anticipated.”

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About Retirement Wisdom

I help people who are retiring, but aren’t quite done yet, discover what’s next and build their custom version of their next life. A meaningful retirement doesn’t just happen by accident. Schedule a call to discuss how The Designing Your Life process created by Bill Burnett & Dave Evans can help you make your life in retirement a great one – on your own terms.

About Your Podcast Host 

Joe Casey is an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ 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 % globally in popularity by Listen Notes, with over 1.2 million downloads. Business Insider has recognized Joe 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.