"Unretired" & Inspired - A Retirement Planning Podcast

In this special episode Caleb, Riley welcome David Blanchett, head of retirement research at PGIM to discuss all things retirement. David has published over 100 papers on retirement and Money Magazine named him one of the brightest minds in retirement planning. If Marvel created a new superhero with retirement planning powers, it would be David and his alter-ego ‘The Grey Gamma’. If you are retiring and feeling resistant to spend, or have a fear of the future uncertainty around markets, inflation or personal health, this episode is for you. Learn more about: How you can better utilize what you’ve saved to enjoy and maximize your your retirement. Strategies to actually go about maintaining your current lifestyle, and doing it with confidence. Why David, a researcher with 100+ Whitepapers, has no idea where the market & inflation will go next and what that’s perfectly okay. Resources: Right-sizing Retirement. Exploring the Retirement Consumption Gap in Early Retirement. Exploring the Retirement Consumption Puzzle Forbes: Morningstar’s David Blanchett On The Retirement Consumption Gap Estimating the True Cost of Retirement An Overview of Retirement Income Strategies 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

Caleb and Riley discuss what you should be monitoring in retirement to stay on track. Should it be year by year tax? Estate tax? Clawbacks? RRIF minimums? Rates of return? Research shows that we really have no idea what is most important as we enter retirement, so it should be of no surprise that we also don’t know what metrics we should be tracking either. Join us as we dive into what is most important to keep tabs on in retirement. What things should be measured and what metrics should be tracked. Learn more about: The key items and metrics retirees should be monitoring during retirement Why your annual investment return is not one of the primary metrics The benefits of having your key metrics and financial plan summarized on a one page dashboard Trends in retirement timing from semi-retirements to multiple retirements Memorable Quotes: “Money is an absolutely essential ingredient in retirement planning, but it’s not the only one. The vast majority of retirees say that in addition to saving for retirement and managing finances in retirement, it is important to think about what they will do to stay healthy, where they should live, how they will maintain or improve family relationships and the activities that will give them a sense of purpose.“ “For many retirees, their mortgage is paid off, which makes taxes their biggest expense. It’s not uncommon for our projections to show retirees paying $500,000 to $2 million dollars in taxes throughout their retirement. Taxes are determined by income, and in retirement you have a lot of control over your income! Tracking and actively aiming to reduce taxes should be top of mind.“ Resources: Longevity and the New Journey of Retirement The Four Pillars of the New Retirement 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

Caleb and Riley are joined my Mosi Taylor-Cole to discuss the importance of who you retire with or don’t retire with and the implications of divorce on retirees. Mosi is a family law lawyer at Square Law Group and to date, has worked exclusively in family law. Learn more about: The phenomenon known as ‘gray divorce’. Statistics show that a record number of people over the age of 50 are choosing to divorce. The Family Property Act and the division of assets and liabilities Alternative co-habitation agreements, implications of getting remarried in retirement, prenuptial agreements and why Mosi believes they are important. Resources: Mosi Taylor-Cole Why are more people filing for divorce after retirement?   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

Caleb and Riley are discussing the institution of marriage. Not just marriage, but how do we use marriage to our financial advantage. There are tax breaks, incentives and strategies that only the existence of our significant other provides us. So if your listening today, maybe hit pause and lean over to that financial goldmine of a partner and tell them “baby because of you, my bank account is a safer place”. Learn more about: How married couples in retirement can spend more money by positioning their accounts to minimize taxes and clawbacks Why being single in retirement could increase your tax bill by up to $10,000 a year and what lobbyist groups are doing to make this more fair The various income splitting opportunities and what you can do leading up to retirement to ensure you can use them. Memorable Quotes: “The tax advantages for couples are so beneficial that a new lobby group, Single Seniors for Tax Fairness, is trying to raise awareness about the unfairness of the issue.” “I ran the numbers for a hypothetical situation, and he ended retirement with $1M more when he was married, versus being single. So be extra kind and romantic to your partner, thank them for the great tax situation they provide you with” Resources: Tax breaks for married senior citizens aren't fair, according to older single Canadians CPP Pension sharing Two Is Wealthier Than One: Marital Status and Wealth Outcomes Among Preretirement Adults 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

Caleb and Riley are discussing a problem they continue to encounter in retirement planning. The problem is that many retirees feel it is important to preserve their asset levels in retirement, and many will even go as far as to cut their spending to do it. This could because of fear or uncertainty about the future of using your wealth in retirement and not changing this mindset could lead to a sub-optimal or what we all a ‘rubbish’ retirement. Learn more about: How to overcome mental hurdles preventing you from spending their wealth on what it is for Evidence of why spending wealth will move you closer to to a robust retirement Transforming your retirement mindset, to a point where you are now ready and willing to ‘retire for real’ and spend your wealth. Memorable Quotes: “Only 31% of retirees withdraw from their portfolios is a regular, systematic basis...Many are unnecessarily constraining spending, despite wanting to prioritize lifestyle over leaving bequests” “If someone is uncertain about how long their money will last, or uncertain on much they will take out, fearful of the future, or unsure about what to spend their wealth on. Then I would say that person is our perfect patient and as your ‘doctors’ today we identified your illness and we prescribed the medication to cure you.” Resources: Spending in Retirement: Determining the Consumption Gap The decumulation paradox. Why are retirees not spending more? Why Most Retirees Will Never Draw Down Their Retirement Portfolio Helping others makes us happier — but it matters how we do it Instead of Spending Down Assets, Eight in Ten Retirees Expect to Maintain or Grow their Investments 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

Caleb and Riley discuss how you can know when you have saved enough. Pre-retirees make many flaws in trying to estimate how much they need in their accounts for retirement. For many reasons people often overestimate how much savings they will need! There are easy rules of thumb that may or may not provide a great prediction but we recommended a more robust calculation for an accurate check on your retirement readiness. Learn more about: All the ways in which people overestimate how much savings they will need for retirement How to properly calculate how much savings you will likely require to retire The two biggest deliverables to look for when working with a retirement planner Memorable Quotes: “If you decide to retire, this is the time to work with an advisor, or transition to an advisor that specializes in this area of retirement planning. Specifically look for 2 things: Advice on how to make dynamic withdrawals and advice on how to decumulate your assets” “You likely have multiple accounts and you have control over what account you take from and when. What you decide to has a big impact on how much taxes you will pay, and therefore how long your money will last.” 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

This week is a unique episode where Caleb and Riley discuss three of their favourite retirement and farewell speeches. These speeches are compelling and offer inspiring advice for today and future phases of life. Learn more about: Three inspiring speeches by Dwight Eisenhower (34th President of the United States), Patrick Pichette (Former Google CFO) and Mary Schmich (Chicago Tribune) Ways we can practice a level of excitement and sense of hope for the next phase of life Taking time to look back on the things we accomplished with contentment, and and feel secure that we are making the right choices Memorable Quotes: “Dwight Eisenhower was also a world-class bridge player. The key thing about being good at those kinds of games is that you have to know, or believe you know, how to read your enemy. His motto that he often said was, “Plans are worthless, but planning is everything.” “Good judgement seeks balance and progress; lack of it eventually finds imbalance and frustration.” “Get to know your parents. You never know when they'll be gone for good. Be nice to your siblings. They're your best link to your past and the people most likely to stick with you in the future.” Resources: Dwight Eisenhower: Farewell Radio and Television Address to the American People Patrick Pichette: This retirement letter from Google’s CFO is like few you’ll ever read Mary Schmich: Wear Sunscreen 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

Caleb and Riley discuss how to know if it’s a good time to retire and whether we should delay retirement during economic downturns. A lot of people have retired over the last 200 years and we dive into what made the best and worst times to retire in history. Having a robust retirement isn’t about waiting for the best economic cycle, rather it’s knowing what you can control and having a system in place to deal with the risks. Learn more about: What were the best and worst times to retire in the last 200 years Why trying to time retirement might be as flawed as trying to time the market The #1 way to alleviate stock market risk in retirement using a rules based approach Memorable Quotes: “You don’t have control over: sequence, inflation, returns. You do have control over your withdrawals though! And our analysis shows making smart adjustments can save most retirement situations.” “If you are approaching retirement during a volatile economic period, you're not the first—plenty of people have retired despite challenging economic situations. History is our greatest teacher: Recessions and market uncertainty of the past can have important lessons for how we approach retirement in the current economic environment. We just have to apply those lessons to our situation.” Resources: Can I Retire During a Recession? It's time to dust off the '1982 playbook' Why 2022 has been a dangerous time to retire — and what you can do about it 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

Caleb and Riley discuss a popular ‘dividend income’ investing strategy. Dividend invests has many allures, like the ability to live off your dividends, and participate in both dividend income and growth of the shares. Some may feel dividend paying companies are the most stable and growth oriented companies. But what does the research say about this? With many years of stock market data and peer reviewed research let’s find out. Learn more about: The research and data behind dividend investing strategies and why it was never meant to be an income strategy for retirees. The “free dividend fallacy” and why the dividend-only investing for retirement income is romanticized and is a non-sensical strategy The reasons to avoid dividend stock picking, and why it moves you towards a rubbish retirement Memorable Quotes: “ In addition to being inefficient for portfolio construction, dividends allow retirement consumption to be directed by corporations rather than tailored to the preferences of each individual.” “To the extent that a dividend focus results in a tilt away from smaller companies, dividend investors may be missing out on expected returns.” Resources: The Case Against Owning All Dividend-Paying Stocks in Retirement The pros and cons of dividend investing 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

Would you rather be rich or wealthy? In this episode Caleb and Riley discuss what it means to be rich vs. wealthy and the impact each has on happiness in retirement. Learn more about: Why financial celebrities like Warren Buffet believe there is a difference between being rich and being wealthy The impact of being rich and/or wealthy has on your happiness Insights from research on how we can be more wealthy and happy in retirement Memorable Quotes: “That man is richest whose pleasures are cheapest” “People are consistently happier when they are out in nature, particularly near a body of water, but weather plays only a small role in happiness” Resources: How Investors Define ‘Wealthy’ Might Surprise You The Rich Are Not Who We Think They Are. And Happiness Is Not What We Think It Is, Either. 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