The Wealthy Barber Podcast
#11 — Robb Engen: Navigating Retirement and Advice-Only Financial Planning
Mar 10, 2025
Robb Engen, creator of the Boomer & Echo blog and an advice-only financial planner, shares his insights on planning for retirement. He discusses the advantages of delaying Canada Pension Plan payments and strategies for safe withdrawal rates. Robb highlights the importance of holistic financial planning, addressing how to support children buying homes while ensuring your own retirement security. He also delves into the impact of high-risk trading behaviors in younger generations and offers practical advice for navigating large expenses in retirement.
01:06:09
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Fee-only financial planning offers unbiased advice tailored to clients' needs, bridging the gap left by traditional high-fee advisors.
- Navigating the transition to retirement requires individuals to redefine their identities and explore new pursuits for a fulfilling life beyond work.
Deep dives
The Role of a Fee-Only Financial Planner
Fee-only financial planning provides clients with unbiased advice without the pressure of selling financial products. This model focuses on creating a comprehensive financial plan tailored to the individual's situation, rather than managing investments for a commission. It encourages clients to look at their entire financial picture, incorporating elements like government benefits and personal circumstances. As many traditional financial advisors often charge high fees while under-delivering on personalized advice, fee-only planners aim to bridge that gap by prioritizing client education and tailored solutions.
