Catching Up to FI

Retirement Remix: Crafting Financial Futures with Purpose | Christine Benz | 117

Jan 19, 2025
Guest
Christine Benz
Christine Benz, Director of Personal Finance and Retirement Planning at Morningstar, shares invaluable insights from her book, 'How to Retire'. She emphasizes the necessity of early retirement planning and building strong social networks to enhance quality of life. Topics include the unique financial challenges women face, particularly regarding longevity and caregiving, and strategies for post-divorce financial security. Christine highlights the importance of aligning personal values with retirement spending and nurturing daily joys for a fulfilling life.
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INSIGHT

Relationships and Aging

  • Close relationships are key to happiness and fulfillment, even in later life.
  • Social networks narrow with age, but it's vital to maintain diverse connections.
ADVICE

Diversify Your Social Network

  • Diversify your social network to prepare for changes and loss as you age.
  • Actively cultivate new connections to replace work relationships after retirement.
ADVICE

Small p Purpose vs Big P Purpose

  • Identify small, achievable daily purposes ('small p purposes') to find fulfillment.
  • These small joys can range from hobbies to close relationships and prevent "purpose anxiety".
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