The topic of planning for retirement can evoke a wide range of responses from anxiety to avoidance (and everything in between), yet it’s arguably one of the most critical ingredients to a person’s overall financial wellbeing. How to make a plan, when to start saving, and how to navigate the retirement path are all questions we’ll be faced with at one point or another. Andrew Heiges is the Director, Head of Retirement Income, Managed Accounts, and Financial Wellness at T. Rowe Price, and brings key insights from years of experience working within the field. On this episode, Andrew joins SoFi’s Head of Investment Strategy Liz Thomas to discuss what financial wellness really means, what’s missing from the retirement conversation, and how we should be thinking about saving. 

For more, read Liz’s column every Thursday at On The Money by SoFi, sign up for the SoFi Daily Newsletter, and follow Liz on Twitter @LizThomasStrat.

Notable mentions in the episode:

(00:00) Intro

(01:56) What exactly goes into financial wellness?

(05:33) Saving is more about the habit than the dollar amount 

(10:44) How has retirement planning evolved over the last few decades?

(14:42) How should fees factor into choosing retirement accounts?

(18:46) Which comes first: paying off debt or saving for retirement? 

(20:21) Does a bearish period matter for your retirement account?

(22:16) Your time horizon goes beyond your retirement date

(27:10) Retiring from a career to pursue a dream job

(29:01) The Hot Minute

(30:40) Liz’s Takeaways

Additional resources:

Recommended reading:

This podcast should be used for informational purposes only and not deemed as a recommendation. Our Automated investing is via SoFi Wealth LLC, and is a registered investment advisor. Our Active investing is via SoFi securities LLC, member FINRA/SIPC. For additional disclosures related to the SoFi Invest® platforms, please visit www. SoFi.com/Legal.

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