An Innovative – and Life-Changing – Way to Look at Retirement, with Dean Jackson - Replay
Common Sense Financial Podcast
The Uncertainties and Risks of Retirement Planning
This chapter explores the uncertainties and risks involved in retirement planning, emphasizing the importance of having certainty in retirement outcomes and not relying solely on assumptions. It discusses the potential challenges of longer life spans, critiques stock market-based strategies, and examines the complexities of taxes and the impact of inflation on retirees' assets.
What comes to mind when you think about retiring? Is it enjoying your "golden years?"
That's an outdated approach, says today's guest Dean Jackson!
He joins host Brian Skrobonja to discuss a new way to think about retirement – and how doing things this way will change your life – the concept of "pre-tiring," two types of economy, and what "money hobby" and self-managing companies are all about.
- The idea of the conversation with Dean came to Brian as the result of conversations he has been having with clients, plus the increased longevity and the outdated models that are still presented as the tools to approach retirement planning.
- From an early age, Dean realized the difference between what Dan Sullivan calls the time & effort economy, and the results economy.
- In the first type of economy. you get paid a fixed amount for your time and effort, whereas in the latter. you’re paid by the results you create.
- Dean has been “pre-tiring” since 1999, splitting his time between Canada and Florida.
- For Dean, trying to define what success means to you and what your ideal lifestyle looks like are key aspects to reflect on.
- Society has been structured in a way where people worked with an eye on retirement, where they would spend their golden years. Now, things have changed.
- As Dean points out, there are billions of definitions of what "a perfect life" looks like, and "everyone’s in possession of what could be a perfect life in their definition."
- The key is filling the blank, using your own situation and words, in regards to the sentence "I know I’ll be successful when ____."
- Rehearsing for retirement is one of the things Brian has been helping clients with. Retirement is a transition, so being prepared for it is crucial.
- Dean believes that one of the important steps to take to prepare for the transition into retirement is what he calls "money hobby."
- Find something you’re truly passionate about and look at whether you can turn it into some kind of business, like the Ryan’s Toys YouTube channel, for example.
- Brian thinks that retirement isn’t an age but a mindset. You can retire at 65 or at 35 if you have the right mindset and path to run down to create passive income.
- Citing Dan Sullivan’s ideas and work, Dean and Brian touch upon the whole idea of life extender and making your future bigger than your past.
- For Dean, it isn’t about how to do something but who can get something done for your company.
- You should decide whether you want to find a who that can help you with a specific thing – you can then turn into a business – or become that who yourself, for someone else’s business, and do the what you really love.
- Dean talks about the so-called eight profit activators, a blueprint that’s universally applicable to all businesses. It’s about looking for opportunities to activate profits in any of the eight areas.
Mentioned in this episode:
Previous episode - Retirement is Not an Age
Dan Sullivan - StrategicCoach.com/our-team/#/people/dan-sullivan
Tony Robbins’ New Money Master program
Brian, Dean Jackson and MAS are not affiliated entities.
Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.
The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.
This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in place.
Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.
This is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.
Remember Everything You Learn from Podcasts
