21min chapter

The Investors First Podcast cover image

Dr. Meir Statman – A Diversified Measure of Wealth

The Investors First Podcast

CHAPTER

Balancing Financial Well-Being and Generational Wealth

This chapter explores the tendencies of retirees, particularly baby boomers, to underspend due to anchoring bias and frugality habits, emphasizing the importance of transitioning responsibly into retirement. It discusses breaking the habit of extreme frugality and spending on things that bring joy, as well as the significance of changing wealth management habits for overall well-being. The chapter also delves into the complexities of wealth inheritance, highlighting the need for open communication and prioritizing family connections and well-being over monetary disputes.

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