The End of History Illusion and Future Planning

In this episode, I had the privilege to sit down with world-renowned economist Dr. Jeff Brown to explore one of retirement's most misunderstood tools, annuities. But this isn’t your typical dry financial chat.

Together, we unpack why guaranteed income might be the key to unlocking joy, confidence, and peace of mind in retirement.

With a perfect blend of behavioural science, practical wisdom, and a few sporting analogies thrown in for good measure, this conversation tackles the emotional and psychological dimensions of spending in retirement.

If you’ve ever thought annuities were boring or unnecessary, this episode might just change your mind (and your future).

• Why most people don’t buy annuities, and why that might be a huge mistake

• The “under-annuitisation puzzle” and what it reveals about human behaviour

• How guaranteed income permits retirees to spend with confidence

• Why planning to “live to 90” is a dangerous oversimplification

• The impact of cognitive decline on financial decision-making

• How framing retirement as a complex human problem changes everything

• Innovative policy ideas and product designs that could change the retirement game

• Lifetime income vs lump sum: the psychology behind the choice

• Framing effects: how a few words can change your retirement plan

• Complexity theory in financial planning

• The power of defaults and nudges in retirement decisions

• Emotional burden of wealth vs income in later life

• The link between guaranteed income and happiness in retirement

• The decline of cognitive ability and how annuities can provide protection

• The role of tech and AI in the future of retirement advice

• TIAA (Teachers Insurance and Annuity Association)

• License to Spend white paper – Blanchett, Finke

• Health and Retirement Study (HRS), US

• From Strength to Strength by Arthur C. Brooks

• The End of History Illusion – Gilbert, Wilson, & others

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