Caleb and Riley talk about how to have realistic expectations for when you will actually retire. Data shows that we are bad at predicting when we will retire. To help us not over or underestimate how long we discuss how pre-retirees can apply the “Rule of 61” and adjust their plans accordingly. Learn more about:
- History/trends in retirement timing over the past 100 years
- Why we are bad at predicting how long we will work and what that means for our financial plans
- How to apply Blanchett’s Rule of 61 to better predict our future retirement age
- Alternative retirement ideas such as mini-retirements and phased retirements
Memorable Quotes
- “The research doesn’t paint a great picture: 50% of people retire earlier than they want to. This means they likely won’t have enough savings to support their retirement, and on average they will be 30% less happy! Ouch! This is the fast lane to a rubbish retirement.“
Resources
- The Impact of Retirement Age Uncertainty on Retirement Outcomes
- 2019 EBRI Retirement Confidence Survey
- Part-Time Retirement Programs Are on the Rise
Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts
