Everyday Wealth

Season 2 Episode 34: Your 100-year life and how to plan for it

Aug 28, 2023

Learn how retirement is changing and how to financially prepare for a longer life. Discover the importance of finding purpose in your later years. Dive into essential estate planning elements and how to navigate family conversations about it.

40:34

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Episode guests

Michael Clinton

Erin Smith

Ken Dychtwald

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Episode notes

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Quick takeaways

Prepare financially for extended life expectancies by strategizing for a stable retirement through health maintenance and alternative income sources.

Reimagine the second half of life and navigate career transitions in the new longevity era by embracing change and exploring new opportunities.

Deep dives

Dr. Ken Dyke-Dweil Discusses Longevity and Financial Planning

Dr. Ken Dyke-Dweil, an expert on aging, highlights the changing landscape of retirement for different generations. He emphasizes the significance of preparing financially for extended life expectancies to avoid outliving one's resources. Dr. Dyke-Dweil stresses the importance of health maintenance to secure a financially stable retirement. Additionally, he suggests strategies like working longer, downsizing, or having housemates to enhance financial security in later years.

Introduction

3min

Redefining Retirement Expectations

14min

Navigating the 100-Year Life and Embracing New Longevity

2min

Reimagining Life After 45

6min

Evolution of a Personal Project into a Business Venture

2min

Essential Elements of Estate Planning

10min

Navigating Family Conversations and Estate Planning Decisions

3min

In this special episode of Edelman Financial Engines’ Everyday Wealth™, we’re revisiting three of our most popular guest interviews, all focused on living longer and how to plan for it. First, Jean speaks to Ken Dychtwald, founder of Age Wave, about how retirement is changing and what retirees can do to prepare both financially and mentally for a longer life. Then, Jean welcomes Michael Clinton, author of Roar: into the second half of your life (before it's too late), about the importance of finding purpose and connection in our later years. Later, Erin Smith, a director of estate planning at Edelman Financial Engines, joins Jean to discuss the essentials of an estate plan and how an advisor can help.

Ms. Chatzky and HerMoney are not clients, agents, representatives, or affiliates of EFE. She is the host of EFE’s “Everyday Wealth” podcast. In return, she receives cash compensation as host and engaging in related activities. The “HerMoney with Jean Chatzky Podcast,” is sponsored by EFE. In this arrangement, HerMoney receives a fee based on the number of downloads, paid on a quarterly basis. Both HerMoney and Ms. Chatzky have an incentive to endorse EFE and its services due to these arrangements. For additional information, please go to https://www.edelmanfinancialengines.com/everyday-wealth/ and https://hermoney.com/t/podcasts/.

This show is pre-recorded, and any callers are prescreened.

The views and opinions expressed by the guests are solely their own and may not reflect the views or opinions of EFE or its planners.

The information being provided is for informational and educational purposes only and should not be construed as investment advice. You should consult with a financial advisor to help determine the best options for your particular circumstances.

The information regarding estate planning should not be construed as tax or legal advice and is for general informational purposes only.

Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to include your qualified tax and/or legal professionals in these discussions and decisions to help determine the best options for your particular circumstances.

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