Retire With Purpose - The Retirement Podcast 453: Pursuing Your Passion & Knowing When to Walk Away with Annie Duke
Today, I'm thrilled to welcome Annie Duke back on the podcast. Annie is an author, speaker, and consultant. She has a PhD in Cognitive Psychology and is a special partner focused on Decision Science at First Round Capital Partners, a seed-stage venture fund.
Many of you will likely recognize Annie from her illustrious career as a professional poker player, during which she won over $4 million and a World Series of Poker bracelet before retiring from poker in 2012.
Today, we will focus on her newest book, Quit: The Power of Knowing When to Walk Away. She explores why many people continue with relationships and careers that no longer serve us and how to master the skill of quitting to pursue something else that will make you happier.
In our conversation, Annie reveals the most challenging aspect of changing careers and transitioning into retirement is often linked to the loss of identity and purpose, how the lessons that we teach our kids about quitting should be focused on overall happiness instead of failure, and simple strategies to help to make better decisions that are shrouded in uncertainty.
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In this podcast interview, you'll learn:
- How Annie's decision to retire from poker was influenced by her happiness and loss of passion for the game.
- Why many people struggle with making good decisions when faced with uncertainty.
- Why one of the hardest aspects of quitting or retiring is the loss of identity.
- How the demise of Sears, one of the largest and most successful companies in the country, can be linked to a loss of identity.
- The similarities in the decision making process between firing an employee, quitting a job and retiring.
- A different perspective on how we teach our kids and grandkids about quitting when it comes to sports and activities.
- Annie's tips and strategies for overcoming analysis-paralysis with investing decisions during the transition to retirement.
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Show Notes: Howardbailey.com/453
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