Planning a goals based retirement well is essential to ensure that, after your clients work hard for most of their lives, they are able to achieve their post retirement goals. The role of a retirement coach is to provide clients with the most effective approach in retirement planning.

In today’s episode, Glenn Malkiewicz of Endorphin Wealth Management joins us to talk about a different approach to planning a fulfilling and prosperous retirement. We’ll discuss Glenn’s four cornerstone frameworks that he works through with each of his clients. By the end of this episode, you’ll learn how you can also apply the framework in your coaching so you can make the best goals based retirement plan.

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About Our Guest:

Glenn Malkiewicz is a senior & trusted financial adviser and a retirement coach at Endorphin Wealth. Glenn prides himself on establishing financial plans that help his clients retire successfully by achieving their goals as well as living fulfilling, energising and satisfying lives. 

How to Do Goals Based Retirement Planning Glenn’s Journey In The Industry

• Glenn has been advising for ten years and he has been in the industry for 13 years. 
• He has a Bachelor’s degree in business with a financial planning specialisation.
• As a client services officer, he learned the administration side of financial planning.
• He then learned about the strategic side of financial planning when he took on a paraplanning role.
• The client exposure and the client meetings with adviser colleagues honed him to become a financial adviser.

Reaching Ideal Clients

• To turn his career into something that he enjoys doing, he thought he has to know which clients he likes working with the most.
• He made a decision to focus on retiree clients who he can provide the most value to.

Being A Retirement Coach

• Focus on the lifestyle aspects of retirement first before getting into financial or economic issues.
• A lot of people live a very well-funded but empty existence in retirement.
• The Australian version of retirement: A life of consumption in retirement is all you need. ‘However, it’s a life of contribution that satisfies retirees’, Glenn says.
• It’s all about finding the right balance between work and leisure in retirement.

Four Cornerstones To A Successful Retirement

• Retire to something, not from something.
• Explore the meaning of work in retirement.
• Solve the couple’s conundrum.
• The need to get a greater return on life, not just on investments.

Four Categories Of What Individuals Hope To Experience In Retirement

• Leisure
• Connecting
• Renewing
• Engagement

Three Important Categories Of Life For Retirees

• Well-being
• Progress
• Freedom

Return On Life Index 

• Financial question: Do I feel well-compensated (financially or non-financially) for the value that I bring?
• Lifestyle question: Do I get great satisfaction and meaning from the work that I do?
• Return on the residence, leisure, health, relationships, purpose, financials

Life Transitions Retirees Need To Plan For Financially

• Getting married
• Starting a family
• Travelling
• Buying a house
• Paying down debt
• Work and career change
• Health
• Retirement

Tips For Planners

• Move from the heart to the head.
• Understand the client’s motivations, physically and philosophically, as to why he/she is seeking advice.
• Discuss possible strategies.
• Provide a defined finish line that’s aligned to their unique circumstances.

Resources

• Your Clients For Life by Mitch Anthony
• Texas Tech Life Centered Financial Planning Online Course

You can reach Glenn via his LinkedIn profile or by sending him an email at [email protected]. Visit Endorphin Wealth Management’s website to know more about their services.

Listen to more conversations with pioneers of the new world of Financial Advice at Goals-Based Advice Podcast. You can also listen on Apple Podcasts and Spotify. 

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If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]

Thanks for listening!