The Humans vs Retirement Podcast

Summary Wade Pfau is the founder of Retirement Researcher and Professor of Retirement Income at the American College of Financial Services. He is one of the world's leading experts on retirement income strategies and actively researches and publishes his findings in prestigious journals and media outlets in the United States. He is also a published researcher and author. With his extensive knowledge and expertise in retirement income, Wade has established himself as a trusted authority in the field. His work and contributions have greatly influenced the understanding and implementation of retirement income strategies, making him a highly respected figure in the financial services industry. In this episode Wade and I focus on retirement income styles and the different strategies individuals can use to generate income and manage their finances in retirement. Wade emphasises the importance of finding an approach that aligns with a person's individual preferences and comfort levels. Our conversation also touches on topics such as spending patterns and optimal withdrawal rates for retirement income. Useful Links Retirement Researcher Website Wade's books Retirement Planning Guidebook, Safety-First Retirement Planning & How Much Can I Spend in Retirement Subscribe to the Humans vs Retirement podcast on Apple Podcasts, and Spotify Download for free my 7 Step Retirement Toolkit Subscribe to my fortnightly newsletter Stay The Course Connect With Wade LinkedIn X / Twitter Connect With Me TFP Financial Planning LinkedIn X / Twitter Book in a chat if you want a second opinion about your retirement planning Email at dan@tfp-fp.com www.humansvsretirement.com

Summary & About Guest Dr. Jordan Hutchison is VP of Technology for RFG Advisory in the USA and an expert in flow theory. adjunct instructor in Behavioral Finance for Kaplan's College for Financial Planning. Jordan holds multiple industry certifications, a master's in financial planning, and a doctorate in business administration, specifically in behavioral science and positive psychology. In this episode we discuss the importance of social connections and relationships in the retirement transition, as well as the concept of flow and its connection to identity shifts. Jordan shares insights from his research and study of flow theory, career in the wealth management industry and personal insights from his time as a standout college basketball player and his parent's life transitions. Useful Links Charles Schwab: The most overlooked factor in aging well (aboutschwab.com) What is flow theory? – An article explaining what it is and how it may help and impact us Flow: The Psychology of Happiness By Mihaly Csikszentmihalyi Subscribe to the Humans vs Retirement podcast on Apple Podcasts, and Spotify Download for free my 7 Step Retirement Toolkit Subscribe to my fortnightly newsletter Stay The Course Connect With Jordan LinkedIn Twitter Connect With Me TFP Financial Planning LinkedIn Twitter Book in a chat if you want a second opinion about your retirement planning Email at dan@tfp-fp.com www.humansvsretirement.com

Summary Roger is a renowned retirement podcaster, blogger, educator, and planner. With over 8 million downloads and 475 episodes of The Retirement Answer Man show under his belt, and his brilliant community-based Rock Retirement Club he has truly made a mark in the retirement space. We delved into the emotional and behavioural challenges of retirement, discussing how we, as humans, are simply not wired to take on this new phase of life without some battle scars. One of the key topics we explored was the "paycheck anxiety" that many individuals face when transitioning into retirement. The loss of that safety blanket, the feeling of security that comes with a regular paycheck, can be daunting. Roger shared some valuable insights and observations on how to navigate this challenge and find peace of mind in your retirement journey. Useful Links Thinking in Bets by Annie Duke The Power of Agency by Paul Napper & Anthony Rao Winning The Losers Game by Charles Ellis The Top 5 Regrets of The Dying by Bronnie Ware Subscribe to the Humans vs Retirement podcast on Apple Podcasts, and Spotify Download for free my 7 Step Retirement Toolkit Subscribe to my newsletter Stay The Course Connect With Roger Twitter LinkedIn The Retirement Answer Man Podcast Agile Retirement Management Connect With Me TFP Financial Planning LinkedIn Twitter Book in a chat if you want a second opinion about your retirement planning Email at dan@tfp-fp.com

Summary In the final episode of season one, I'm flying solo to try and distil, summarise, and cover the key points from the previous 11 amazing episodes of the Humans vs Retirement podcast. I can't express my gratitude to you the listeners enough and I'm so excited for season two, which will launch after a four-to-five-week break. Join me as I reflect on the amazing conversations and insights gained from exploring the behavioural, emotional, and financial challenges of life after work. What You'll Learn The listener will learn about Finding new purpose and creating joy. Spending money on experiences rather than material things in retirement. The importance of not being too conservative with spending money. The four sources of contentment in retirement. The four anchors of retirement well-being. Effective communication in retirement. The importance of resilience. The being human problem Useful Resources Subscribe to the Humans vs Retirement podcast on Apple Podcasts, and Spotify Download for free my 7 Step RetirementGPS Toolkit Subscribe to my fortnightly newsletter Stay The Course Connect With Me TFP Financial Planning LinkedIn Twitter Book in a chat if you want a conversation about your retirement. Email at dan@tfp-fp.com

Summary In this episode of the Humans vs Retirement podcast, I'm so fortunate to be able to have a conversation with my client and good friend, Andy Murphy, to hear about his experiences and challenges in retirement. Andy shares his career story and how he began to think seriously about retirement. We discuss how important planning and preparation was for Andy, as well as the emotional and psychological adjustments that he has had to make and continues to work through. This episode provides a first-hand perspective on the realities of life after work and offers valuable insights for anyone approaching retirement. What You'll Learn The listener will learn about: • The financial and non-financial aspects of retirement. • A real-life transition into retirement. • Why involving partners in retirement planning is crucial. • Getting your affairs in order is an important part of the planning phase. • How to think and pursuing passions in retirement • The importance of being flexible with your retirement plans • Where to find value in retirement • Why seeking professional and specialist advice is vital. About My Guest Andy had a long, successful 40+ year career working across a variety of roles for one of the big American banks. 5 years ago, Andy wanted to get his affairs in order to eventually retire from the bank. However, this first venture into retirement planning caused more questions than answers. Andy has been retired just over 12 months and now sees himself as a Music Discoverer! As well as his love of music, he enjoys fine art and cooking. Find out more at www.humansvsretirement.com

Summary In this episode I get to have a brilliant conversation with bestselling author, New York Times columnist and founder of The Behaviour Gap Carl Richards. Carl is internationally renowned for his ability to explain complex financial concepts in an easy-to-understand manner through his sketches and books. We discuss the importance of real financial planning, and the challenges people face in retirement. Carl shares his insights and experiences on how to overcome the behavioural, emotional, and financial challenges of life after work. This episode provides valuable advice and inspiration for anyone navigating retirement planning. What You'll Learn The idea of retirement as a man-made invention that may not be suitable for everyone, especially those engaged in knowledge work. Retirement may not align with our values and that we may miss out on opportunities to contribute to society and rebuild relationships with loved ones if we retire too early. Retirement is not just a financial problem to be solved with numbers, but a human problem that requires exploration of fears, anxieties, dreams, and aspirations. Many people are unprepared for the emotional and behavioural challenges that come with retirement. The importance of aligning one's values and interests with their retirement plans and finding activities or hobbies that bring joy and fulfilment. About My Guest Carl Richards is a Certified Financial Planner™ and creator of the Sketch Guy column, which appeared weekly for a decade in The New York Times. Carl has also been featured on Marketplace Money, Oprah.com, and Forbes.com. In addition, Carl has become a frequent keynote speaker at financial planning conferences and visual learning events around the world. Through his simple sketches, Carl makes complex financial concepts easy to understand. His sketches also serve as the foundation for his two books, The One-Page Financial Plan: A Simple Way to Be Smart About Your Money and The Behaviour Gap: Simple Ways to Stop Doing Dumb Things with Money (Portfolio/Penguin). His sketches have appeared in a solo show at the Kimball Art Centre in Park City, Utah, as well as other showings at Parsons School of Design in New York City, The Schulz Museum in Santa Rosa, California, and an exhibit at the Mansion House in London. His commissioned work is on display in businesses and educational institutions across the globe.

Celia Dodd, a journalist and author specializing in retirement transitions, shares insights from her book, Not Fade Away: How to Thrive in Retirement. She discusses the emotional hurdles of retiring, emphasizing the importance of finding new purpose and experimentation in this phase. Celia encourages embracing adaptability, pursuing mastery in new interests, and engaging in volunteer work that feels rewarding. She highlights the benefits of social diversity and suggests planning retirement activities thoughtfully to maintain fulfillment and joy.

Summary In this episode of the Humans vs Retirement podcast, I get to have a great conversation with licensed marriage and family therapist and financial behavioural specialist, Ashley Quamme, about the challenges of communicating effectively with your spouse during retirement. We discuss how the changing relationship dynamic can affect retirement planning and offer tips for maintaining a healthy relationship during this new phase of life. Ashley also gives a brief rundown of her career and how she transitioned from marriage and family therapy to financial behavioural specialist. What You'll Learn The listener will learn about: The importance of communication and planning in relationships leading up to and during retirement The challenges that couples face and the need for ongoing dialogue and flexibility. Why both partners must be involved in financial planning. Being vulnerable and seeking help when needed. The value of travel and adventure in retirement. The importance of flexibility and adaptability in response to change. About My Guest Ashley Quamme is a licensed marriage and family therapist, financial behavioural specialist with extensive experience in couples relational work and founder of BAM Financial Consulting As well as being a couple's therapist, Ashley is married to a Financial Planner! Which means she gets to hear a lot about money, money management practices, and financial planning. Ashley believes the root of many financial issues are emotions, biases, problematic thinking patterns, and beliefs. If left unchecked, these modes for operating can wreak havoc on our lives. Taking what she knows about emotions, thoughts, behaviours, and relationships in the clinical space and applying them in the financial sector is the work that she has come to be passionate about. Find out more at www.humansvsretirement.com

Summary In this episode of the Humans vs Retirement podcast, I have a great conversation with Dr Thomas Mather, Head of the Centre for Behavioural Research for Aegon UK, about the emotional and behavioural challenges retirees face. Tom shares his expertise and research into the specifics around connecting and empathising with your future self and how we must challenge the narrative that retirement is the natural last phase of life. Dan & Tom discuss the importance of research in understanding these challenges and strategies to help individuals live a happy, healthy & wealthy retirement. What You'll Learn The listener will learn about: The emotional and behavioural challenges of retirement. How to make confident and informed decisions about retirement planning. The importance of connecting with and empathising with one's future self. Having a strong and meaningful connection to the future. Spending money on things that bring joy and purpose. The societal expectation of retirement as the natural last phase of life. Encouraging a more open and adaptable approach to aging. The importance of self-knowledge and having a flexible mindset and playbook to adapt to unforeseen risks in retirement planning. About My Guest Tom heads up the Centre for Behavioural Research, at Aegon UK, a small team of behavioural scientists and psychologists who work in the space where Behavioural Finance and Financial Wellbeing meet. He has a PhD in Social Anthropology from Berlin and later completed further training in Behavioural Economics at LSE. He lives in Edinburgh with my wife and 6-year-old twins (who're non identical twins and hence useless for experimental purposes). Find out more at www.humansvsretirement.com

Summary In this episode of the Humans vs Retirement podcast, Dan is joined by author, workplace psychologist and founder of Retirement Life Plan, Pauline Johnson-Zielonka, to discuss our brain's battle with retirement. Polly, who has a PhD in human and organisational systems and a background in industrial psychology, shares her knowledge and approach to understanding retirement by drawing from positive psychology, social psychology, and industrial psychology. Together, Dan and Polly explore ways to help listeners overcome the behavioural, emotional, and financial challenges of life after work. What You'll Learn The listener will learn about the challenges of retirement and how to prepare for them, including social and psychological adjustments, finding new avenues for fulfilling experiences, and building strong social networks outside of work. The episode emphasises the importance of individualised retirement planning and the need to consider personal priorities and circumstances. The guest, Pauline Johnson-Zielonka, shares her knowledge and wisdom on the topic based on her background in psychology and research. The episode also recommends a book on retirement and suggests seeking out retirement couples therapy or counselling to create a shared vision for retirement. About My Guest Polly Johnson-Zielonka is the author of the book Retirement Life Plan and a highly qualified guest on the Humans vs Retirement podcast. She holds a PhD in human and organizational systems and has a background in industrial psychology. Polly's book is full of thoughtful research, relatable case studies, and actionable reflective questions, making it a valuable resource for those considering retirement. She emphasises the importance of individuality and personal values when planning for retirement, as well as considering the needs of any partners or relationships. Polly currently resides in Orange County, California. Find out more by going to www.humansvsretirement.com