July 18, 2023

Creating a Meaningful and Fulfilling Retirement with Lena Haas and Ken Dychtwald

41 minutes

Retirement is no longer considered an endpoint but rather a gateway to a new chapter brimming with purpose. Gone are the days when it was synonymous with endless leisure and idle relaxation. Today's retirees and pre-retirees are embracing a paradigm shift where health, family, purpose, and finances are the cornerstones for a thriving retirement.

In this episode, Jack Sharry talks with Lena Haas, General Partner and Head of Wealth Management Advice and Solutions at Edward Jones, and Ken Dychtwald, Founder and CEO of Age Wave. Lena is passionate about helping individuals make smart financial decisions that better their lives. She aims to help millions of clients and their families understand lifelong behaviors for financial success, develop and follow a personal plan, and invest their hard-earned money for the most impact. Ken Dychtwald is a renowned psychologist, gerontologist, researcher, speaker, and best-selling author. He has received the distinguished American Society on Aging Award twice for outstanding national leadership.

Lena and Ken talk to Jack about the new research Edward Jones has released, Resilient Choices — Trade-Offs, Adjustments, and Course Corrections to Thrive in Retirement. This study examines the key findings around how Americans overwhelmingly see course corrections as essential to thriving retirement as they move from full-time work and consider what Edward Jones calls the pillars of the new retirement — health, family, purpose, and finances.

Key Takeaways

[02:13] - The role Lena and Ken play at Edward Jones.

[04:06] - What Edward Jones' age wave research, Resilient Choices, reveals.

[05:37] - Health

[06:29] - Family

[08:06] - Purpose

[09:10] - Finances

[10:43] - Ken's thoughts on Edward Jones' research.

[14:55] - How Edward Jones recognizes the need to educate women about investing.

[16:36] - What Edward Jones means by cannonballs, curve balls, and windfalls in the new retirement.

[20:40] - Ken's take on creating a more productive and satisfying client and advisor experience.

[24:00] - How Edward Jones builds the infrastructure to provide holistic advice.

[26:09] - How Edward Jones provides tools and processes that resonate with financial advisors.

[28:44] - What Ken has to say about the people at Edward Jones.

[31:04] - Lena's key takeaways.

[33:27] - Ken's key takeaways.

[35:21] - What Lena loves to do outside of work.

[36:07] - Ken's interests outside of work.

Quotes

[04:44] - "Our study shows that when today's retirees and pre-retirees feel that they're getting derailed across any of the four pillars of retirement, they are willing to take action. They have a huge appetite for making trade-offs, making adjustments, and getting educated about the right course corrections." ~ Lena Haas

[31:24] - "Retirees and pre-retirees are looking at what it means to be successful in retirement and in life differently. For them, success is not about having lots of time for leisure. It's truly about thriving across all four pillars of health, family, purpose, and finances." ~ Lena Haas

[33:36] - "I was troubled that so many people have not learned the basics of personal finance management. And we see people in their forties, fifties, and sixties manifesting an absence of good training." ~ Ken Dychtwald

Links

Lena Haas on LinkedIn

Ken Dychtwald on LinkedIn

Franklin Templeton

Edward Jones

Morgan Stanley

Resilient Choices

Age Wave

The Structure of Scientific Revolutions

Ken Cella

Connect with our hosts

LifeYield