560. How to Retire w/ Christine benz

Sep 16, 2024

Christine Benz, a leading retirement researcher at Morningstar, dives into her new book, How to Retire. She discusses the critical differences between wealth accumulation and distribution, emphasizing the role of Social Security in retirement planning. The conversation highlights the evolving strategies from pensions to 401(k) plans and the necessity of personal values in creating meaningful retirement. Christine also underlines the importance of social connections, purpose, and engagement for emotional well-being in this new life phase.

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INSIGHT

Accumulation vs. Decumulation

Retirement accumulation is straightforward: invest and watch returns compound.
Decumulation, or spending down, is more complex due to taxes and regulations.

INSIGHT

Retirement Complexity in the US

Retirement has become complicated due to the shift from employer-managed pensions to employee-managed 401Ks.
Multiple accounts, tax implications, and cognitive decline add to the complexity.

ANECDOTE

Benz's Entry into Retirement Planning

Christine Benz's interest in retirement planning stemmed from helping her father and father-in-law, who were avid mutual fund investors.
They faced challenges generating sufficient income from their portfolios due to low yields.

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Christine Benz is one of the foremost retirement researchers who works for Morningstar. Her new book, How to Retire, is a deep dive into what retirement should look like financially, physically, and emotionally. Her book highlights interviews with some of the most studied retirement experts.

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