501: The Four Futures of Retirement: Which Path Are You On?
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May 23, 2025
Explore the unpredictable nature of retirement and the importance of planning for various potential futures. Learn how to adapt to life's curveballs while managing common concerns like financial insecurity. Discover insights from futurists and strategies to create a comprehensive retirement plan that accounts for both expected and unexpected challenges. Embrace a proactive mindset as you consider the macro forces shaping your future and the advantages of collaborating with a financial advisor.
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insights INSIGHT
Four Futures Framework
Retirement futures can be distilled into four main types, simplifying planning complexities.
This framework enhances resilience by anticipating different outcomes rather than predicting one future.
volunteer_activism ADVICE
Prepare for Lifequakes and Risks
Plan your retirement to withstand various life's curveballs using buffers and flexible income strategies.
Preparing for known uncertainties fosters peace of mind and financial stability in retirement.
volunteer_activism ADVICE
Plan for Disruptions
Expect most retirees to face at least one significant disruption such as health or financial setbacks.
Incorporate emergency funds, insurance, and income diversification to manage these potential shocks.
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What does your future retirement look like? Whether your path includes unexpected challenges, careful frugality, or joyful surprises, it's vital to prepare for known unknowns, and build a resilient future that adapts to life’s curveballs.
In this episode, we discuss:
Why retirement isn’t linear
How to plan for different potential retirement futures
Lifequakes vs. Deep Risk
The PESTLE framework for strategic thinking
Today's article is from Kiplinger titled, The 'Rule of Four Futures' in Retirement. Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation.
📧 WEEKEND READING FOR RETIREES: Receive CFP® insight on 4 hand-picked financial articles delivered straight to your Inbox each Friday: https://bit.ly/3OEdGgu
📅 SCHEDULE YOUR PERSONAL FINANCIAL REVIEW: Book a 15-minute call with Howard Bailey Financial to see how the topics discussed here apply to your individual situation: https://bit.ly/3z5mXIw
ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process
Retire With Purpose - The Retirement Podcast