The Retirement Wisdom Podcast

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Learn More about the Designing Your New Life in Retirement program here

Starts January 20th 

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What will your encore career be? Today we’re comparing notes with a fellow podcaster on what he’s learned about retirement after interviewing over 40 guests who are reinventing retirement. Our guest is Carl Landau, whose encore is podcasting. Carl has 30+ years of experience as a niche magazine publisher, entrepreneur, event organizer, and in his current encore career, he’s launched a new venture, Pickleball Media.

We discuss:

Carl's career story

What his transition to retirement has been like, so far

What's surprised him the most about this chapter of his life

What he's learned so far

The key ingredients of a rewarding successful second act

The misconceptions he thinks people have about this phase of life

How this phase of life can be meaningful - and fun

Carl Landau of Pickleball Media joins us from Sacramento, California.

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Wise Quotes

On Retiring Earlier - If You Can

"I give this advice all the time, retire earlier - if you've been doing the same thing for a long time. If you can afford it, stop, sell it or quit, or whatever. I wish I had done that four or five years earlier. So, you don't know that until you've stopped doing it. And the other thing that really surprised me is [the value] of starting something new."

On Reinventing Yourself

"I think younger people are really looking at this unretirement movement and what they're going to do next way more seriously than we did. And I think it's great. I really do. I think if you are 50 years old, you should really be considering what you think you want to do next. And maybe you could phase part of it in. Why not start incorporating some of this stuff when you're younger?  I think your life would be a lot more fulfilling, rather than just throwing everything you have at this massive job. I think people are less and less interested in that these days. And people who are already in retirement, I hope that you really are open-minded about trying new things... Figure out if this is something you really like and put your efforts into it."

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Podcast Episodes You May Like

Stupid Things I’ll Never Do When I Get Old – Steven Petrow

Is It Time for Your Encore Career? – Ruth Wooden

A Second Act after The Law – Mark Shaiken

How’s Your Personal Brand? – Wendy Marx

How to Future Proof Your Career – Jeff Gothelf

How to Live Your Legacy Now – Barbara Shaiman

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About Retirement Wisdom

You haven’t worked this hard for so long to have a mediocre post-career life.

It’s your time. Make it your best time.

Work one-on-one with our Certified Designing Your Life Coach to explore alternative visions of your future and develop the pathway that’s right for you. Find out more here - early bird pricing ends 12/31.

Take the first step toward your next life.

Schedule a free call to discuss our programs and what’s right for you.

 

 

 

Learn More about the Designing Your Life Program here

Is it time to get creative? Consistent involvement in the arts offers multiple benefits, including for your health and well-being. Our guest, Teresa Bonner, Executive Director of Aroha Philanthropies, explains how creative pursuits in retirement can enrich your life.

We discuss:

Her mission in her encore career

Gene Cohen’s work at George Washington University on aging and creativity

The range of artistic endeavors she sees people engaging with in mid-to-later life

The challenges people face when they leave the workplace and how involvement with the arts is useful

The benefits of intergenerational arts programs

How getting involved with the arts can help caregivers

Her advice for someone who doesn't think they're a creative person

The benefit of being a novice in an artistic activity

How to get started with a creative activity

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Bio

Teresa Bonner is a frequent speaker on philanthropy, most recently to California and Minnesota affiliates of the Family Firm Institute, estate planning councils and planned giving councils. For Aroha Philanthropies, Teresa leads the foundation and directs efforts to seed, develop, expand and advocate for creative aging programs across the country. She has created cohorts of arts organizations and senior-serving organizations that have developed creative aging programs and managed the evaluation of these programs nationally. Teresa has spoken about creative aging at conferences of Grantmakers in the Arts, Grantmakers in Aging, the American Society on Aging, the Gerontological Society of America, the National Assembly of State Arts Agencies, the National Guild for Community Arts Education and other organizations.

Prior to joining Family Philanthropy Advisors in 2008, Teresa was Senior Vice President and head of Business Development and Charitable Services for U.S. Bank’s Private Client Group, where she oversaw new business development and services offered to high-net-worth clients, including private foundation services, grantmaking, endowment management and charitable services.

In addition to her foundation management roles, Teresa has served as Executive Director of Milkweed Editions, an acclaimed nonprofit literary publisher, and as Executive Director of the Library Foundation of Hennepin County, where she directed planning and implementation of marketing, fundraising, promotional, programming, public relations, grant administration and volunteer functions for one of the country’s largest library systems.  Prior to her work in the nonprofit and philanthropic sector, Teresa was a partner in the Minneapolis law firm of Lindquist and Vennum.

Between 2001 and 2007, Teresa chaired the board of directors of MacPhail Center for Music, one of the country’s largest community music schools, where she led the transformation of that organization’s governance, successfully completed a major capital campaign for the creation of a new flagship facility, and chaired the Center’s grand opening celebrations.  She has served on several other nonprofit boards and has been a frequent panelist for the National Endowment for the Arts.  Teresa won the “Woman Changemaker” award from the Minneapolis St. Paul Business Journal in 2004.

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For More on Teresa Bonner

Aroha Philanthropies

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Wise Quotes 

On Creativity & Aging

"Gene Cohen was such a proponent of the concept that as we get older our capacity for creativity increases. It doesn't decrease as so many of us were taught when we were younger. And so what he did working with The National Endowment for the Arts, [was] a major study on what happened to older adults who participated in s...

With the challenges of everyday life, it's easy to lose sight of the value of fun. Science journalist Catherine Price joins us to discuss her new book The Power of Fun and why fun and play are important parts of a fulfilling life. Listen in to how you can have more fun in retirement and the benefits you may not expect.

We discuss:

The backstory that inspired her to write her new book The Power of Fun

What gets in the way of fun for adults

The three main components of fun (you'll want to know to have fun in retirement)

How fun is good for you - including ways that may surprise you

How you can tell the difference between True Fun and Fake Fun

How she's brought more Play into her life

How to have a healthier Screen-Life Balance

How to find new interests, passions, and hobbies

The value of trying new things

Preventing perfectionism from getting in the way of trying something new things

The main messages she wants people to take away from The Power of Fun

Catherine Price joins us from Philadelphia.

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Bio

Hailed in The New York Times as "the Marie Kondo of brains," Catherine Price is an award-winning science journalist, speaker, and author of How to Break Up With Your Phone: The 30-Day Plan to Take Back Your Life (Ten Speed Press), among other books. Her newest book, The Power of Fun: How to Feel Alive Again (Dial Press) will be released in December 2021. As a speaker, consultant and workshop leader, Catherine helps individuals and organizations create healthier personal and professional relationships with their phones (and other devices), and establish best practices to encourage creativity, productivity and mental health. In other words, she helps people scroll less, live more, and have fun.

How to Break Up With Your Phone has been published in 30 countries and featured in scores of high-profile media outlets around the world, including NPR, The New York Times, The New York Times Magazine, The Los Angeles Times, Time Magazine, Wired, Vox, Refinery29, BBC World News Service, and many others. A New York Times article about Catherine and her 30-day program titled " Do Not Disturb: How I Ditched My Phone and Unbroke My Brain,” went viral, receiving more than 2 million hits in less than a week.

Catherine is also the creator and founder of Screen/Life Balance, which is dedicated to helping people learn how to scroll less and live more. Screen/Life Balance is part of Catherine’s continued mission to create evidence-backed resources to help people around the world design lives in which they control their technology, rather than the other way around—with the ultimate goal of increasing happiness, productivity, creativity, health and wellbeing.

Catherine speaks, consults, and leads workshops on how individuals and corporations can set better boundaries with — and best practices for — their devices in order to maximize creativity and productivity, improve mental health and brain function, reduce burnout, spend more time doing the things that actually matter to them...and have more fun! Her engagements can be customized based on audience size and area of interest, but they are always compelling and actionable, chock-full of what Catherine calls "science-backed self-help."

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For More on Catherine Price

Pre-order The Power of Fun: How to Feel Alive Again (December 21, 2021)

The Power of Fun Website with a free quiz and resources

How to Break Up with Your Phone: The 30-Day Plan to Take Back Your Life

Vitamania: How Vitamins Revolutionized the Way We Think About Food

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Wise Quotes

On What Gets in the Way of Fun

What unique challenges do women face in retirement planning? We talk with Russ Thornton, an experienced retirement advisor who specializes in helping women prepare for retirement. And we cover several topics of interest to anyone who's planning for retirement.

We discuss:

The story behind why he specializes in retirement planning for women

What he sees as the unique challenges women face in planning for retirement

What’s different about planning for retirement today versus 10 to 20 years ago

The key building blocks of a sound retirement plan

What many people don’t know about retirement planning - but should

The mistakes he sees people make in planning for retirement that can be avoided

How his clients navigate the challenges that come with the transition to retirement

How couples can get on the same page about retirement

His approach at Wealthcare for Women

The upside of life in retirement he sees his clients living today

Russ joins us from Atlanta.

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Bio

Russ Thornton has been a retirement advisor for over 25 years and specializes in helping women retire confidently on their own terms to comfortable, fulfilling lives, at his retirement advisory firm Wealthcare for Women. Russ was selected as one of Investopedia's Top 100 Financial Advisors in 2019, 2020, and 2021. Prior to establishing his own firm, Russ was a Financial Advisor with Merrill Lynch.

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For More on Russ Thornton

Wealthcare for Women

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Wise Quotes

On Not Deferring Living

"I like to always emphasize the idea that you can do things now and in retirement. You don't have to wait. And if you wait, you run the risk that you're not here. Tomorrow isn't promised. I'm sure we all have heard about, or maybe know, people that have planned to retire and for one reason or another, they never made it to retirement. Or they retired and in a year or two or three in something happened and they didn't even get to enjoy all the years they'd planned on. So, I think you need to think about how you can start enjoying your life today while still preparing for a comfortable and confident retirement ahead."

On Planning for How You'll Invest Your Time

"Clearly retirement planning revolves around making sure that you've got the financial pieces in place to support your life, no matter how long you live. But, I think it's worthwhile to also spend time thinking about how are we going to spend our time? And who are you going to spend your time with? What are you going to stop doing once you retired? Maybe that gives you the opportunity to eliminate some things in your life that by necessity that you're dealing with now related to work or other commitments."

On Shifting from Saving to Spending

"I find that it's often very difficult for people to make that mental shift from saving and accumulating to starting to spend, and as a result, I find a lot of people underspend - especially in the first few years of retirement.  When in reality, if they're going to overspend, maybe they should actually overspend a little bit more early in retirement when they're younger, more mobile, want to travel, and want to do more things."

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Podcast Episodes You May Be Interested In

Retire Happy – Dr. Catherine Sanderson

Why Retirement is About Much More Than Money – Ted Kaufman & Bruce Hiland

Advice for Successful Career Women Transitioning to Retirement – Helen Dennis

Ways to Retire on Less – Harriet Edleson

The Future You – Brian David Johnson

Who Will Take Care of You When You Are Older? – Joy Loverde

Giving thanks is probably on your mind this week if you're here in the US. And there's a lot to be grateful for. There's science behind gratitude and how it can enhance your health and well-being. Dr. Glenn Fox from the University of Southern California joins us to chat about the research on gratitude and how to apply it in your daily life. We also touch base on how gratitude plays a role in high performance and what he's learned from his work with entrepreneurs and Navy SEALS.

We discuss:

The Science of Gratitude

How gratitude is defined

The benefits of gratitude

What gets in the way of gratitude

Why gratitude is a positive emotion and also a skill

The practices he uses in his daily life to apply the research on gratitude

How to start a gratitude practice

Entrepreneurship

How gratitude plays a role in high-performance among entrepreneurs

What to consider before becoming an entrepreneur

 

And...what he learned from being in Back to the Future 3 way back in the day

Glenn joins us from California.

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Bio

Dr. Glenn Fox is a faculty member at the University of Southern California's Lloyd Greif Center for Entrepreneurial Studies, in the Marshall School of Business. His current projects focus on neural systems for emotion regulation, high stakes training, and developing entrepreneurial mindset skills in founders and business leaders.

Glenn received his Ph.D. in Neuroscience from USC, where he focused on the neural correlates of gratitude, empathy, and neuroplasticity. Following graduate school, he started a company, Ph.D. Insight L.L.C., which focused on providing data science consulting for small businesses and early-stage startups. Prior to joining Marshall as a faculty member, Glenn led the Performance Science Institute at USC where he worked with the United States Marine Corps, Army Research Laboratories, Seattle Seahawks, and numerous Olympic athletes and Fortune 500 companies to examine the role of mindset in business and high stakes pursuits.

Currently, Glenn is the Director and Founder of the USC Found Well Initiative which aims to understand and promote entrepreneurial mindset in founders and business leaders. He also serves as a Principal Investigator at the USC Sensorimotor Assessment and Rehabilitation Training in Virtual Reality Center (SMART-VR) and a fellow of the Brain and Creativity Institute.

Outside of USC, Glenn serves as the Chief Science Officer of the C4 Foundation, which serves to strengthen and protect Navy SEAL families. Glenn is also currently on the advisory board of the Flow Research Collective, where he works with Steven Kotler on projects related to gratitude, flow, and high performance. He consults regularly with companies and media outlets on topics ranging from small business management, gratitude, and high performance.

Glenn is an avid maker and restorer of things old and metal. He lives in LA with his wife and son.

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For More on Dr. Glenn Fox

What Can the Brain Reveal About Gratitude?

Practicing Gratitude Can Have Profound Health Benefits

The C4 Foundation

Follow on Twitter @glennrfox

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Wise Quotes

On Gratitude

"Gratitude is a word we hear thrown around a lot, and I think that's a good thing. And we only begin to understand gratitude more. The more we begin to look for it. And as you start to look and observe gratitude, you realize that it's so much more than what people talk about. We hear the word gratitude, and we think about it as a synonym for happiness, a lot of the time, but this limits what I think gratitude really is - and what it really...

Next week, Retirement Wisdom is partnering with One Day University to bring you a

FREE live-streamed talk with renowned Amherst Professor Catherine Sanderson.

Exclusively for listeners of The Retirement Wisdom Podcast

If you listen to our podcast, you may have heard me mention One Day University.

One Day University brings over 200+ top-rated professors together online to present incredible, live-streamed talks based on their most popular courses. You can learn something new every day, about history, art, psychology, and much more. It’s like going back to college, but no homework or tests - just the joy of

learning from top experts.

Professor Sanderson will present a live-streamed, one-hour version of her most popular course, Positive Psychology: The Science of Happiness, including time to ask her questions, in real-time.

This course will take place on January 18th, at 7 pm Eastern

If you can’t tune in live, everyone who RSVPs will receive a link to watch the class anytime they want.

To RSVP today for this free class, just visit:

www.onedayu.com/retirementwisdom

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If you're planning for retirement, you're focusing on covering all your bases. But how about your happiness? When you're able to retire, will you be prepared to retire happy? Professor Catherine Sanderson joins us for a conversation about research from the field of positive psychology on happiness, and her practical recommendations on how to enhance your well-being.

We discuss:

How she become interested in positive psychology and in the study of happiness

How our Mindsets influence us

What predicts happiness

If Eyerores can become Tiggers

If money buys happiness

Why linking happiness to external events isn't wise

How we think about aging influences how we actually age

How she applies the research on optimism and happiness in her daily life

What gets in the way of happiness that we should avoid

Practical tips to enhance your happiness

Dr. Sanderson joins us from Amherst, Massachusetts.

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Bio

Catherine A. Sanderson is the Poler Family Professor and chair of psychology at Amherst College.

She received a bachelor's degree in psychology, with a specialization in Health and Development, from Stanford University, and received both masters and doctoral degrees in psychology from Princeton University.  Her research has received grant funding from the National Science Foundation and the National Institute of Health. Professor Sanderson has published over 25 journal articles and book chapters in addition to four college textbooks, middle school and high school health textbooks, as well as the Introduction to Psychology course for The Great Courses. In 2012, she was named one of the country's top 300 professors by the Princeton Review.

Professor Sanderson has written trade books on parenting as well as how mindset influences happiness, health, and even how long we live (The Positive Shift). Her latest trade book, published in North America as Why We Act: Turning Bystanders Into Moral Rebels (Harvard University Press) and internationally as The Bystander Effect: The Psychology of Courage and Inaction (HarperCollins), examines why good people so often stay silent or do nothing in the face of wrongdoing. For a preview of the topics addressed in this book, watch Catherine’s TEDx talk on the Psychology of Inaction, which describes the factors that contribute to inaction and provides strategies we all can use to help people act, even when those around them are not.

Professor Sanderson speaks regularly for public and corporate audiences on topics such as the science of happiness,

There are many decisions to make in planning for retirement and a big one is where to live. Are you interested in a retirement community or plan to age in place? Will you move to be closer to family members or downsize to a place with the "livability" factors you want? What will be the right place for you? Ryan Frederick, the author of the new book Right Place, Right Time joins us to share his insights.

We discuss:

Why he chose to live in a retirement community in his 20s - and what he learned from that

Why Place is so important

How the pandemic is changing how people think about where we choose to live

A case study from his book and the lesson it highlights

The key factors (like livability) that make a place the right place for someone

The pros and cons to be aware of if you plan to age in place

How Design Thinking can help people choose the right place to live next

His advice for couples

His personal experience in moving his family to Austin.

The key trends shaping where - and how -  we’ll be living in the future

Ryan joins us from Austin.

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Bio

Ryan Frederick is the Founder & CEO of SmartLiving 360 and the author of the new book Right Place, Right Time: The Ultimate Guide to Choosing a Home for the Second Half of Life.

Ryan is focused on the intersection of healthy aging and the role of place, including housing. SmartLiving 360 helps institutions and individuals thrive in the Age of Longevity by providing consulting services, real estate development services, and consumer content.

Ryan is recognized as a national thought leader and innovator in the real estate development and healthcare services industries and is a keynote speaker, instructor, author, and blogger. His work and insights have been cited in Forbes, The Washington Post, and Environments for Aging, among other outlets. His real estate development in Rockville, MD, The Stories at Congressional Plaza, is an age-friendly apartment community that has attracted national attention. Mr. Frederick is a member of the National Advisory Board for the School of Nursing at Johns Hopkins University, a member of the AgingWell Hub, a collaborative of leading innovative providers in the field of aging led by Phillips, and has been appointed to the Advisory Council of the Bipartisan Policy Center Health and Housing Task Force. He is a 2018-2019 Encore Public Voices Fellow.

Mr. Frederick is a graduate of Princeton University and the Stanford Graduate School of Business.

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For More on Ryan Frederick

Right Place, Right Time: The Ultimate Guide to Choosing a Home for the Second Half of Life

Blog 

The University of Michigan Study on Purpose and Longevity mentioned on the podcast

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Wise Quotes

On the Importance of the Right Place

"It makes it easier to be socially connected, be physically active, be financially secure for a longer life. And then it has a direct effect because in some cases you may be in a physical place that you might be emotionally connected to or not. Or you might have some physical limitations and you may find a place that may not be appropriate for you. So I think it's so important that Place should be on the same level as eating well, exercising, and financially planning for longevity. It's right up there as we think about planning for a longer life. And it starts with a vision of what you want your life to look like. And then how does Place help enable that to happen?"

On Happiness and Longevity

"When you look at the research of a longer life, and we don't hear this much in the media, but there's something called the U-shaped Happiness Curve based on pe...

When you're learning something new, it's helpful to understand both theory and practice. Planning for retirement is no exception. What can we learn about life in retirement from those who planned well for retirement (and wrote excellent books about it) - and are now living it?

In this new installment of a series of panel discussions with our most popular previous guests, we're joined by Fritz Gilbert, Dr. Barbara O'Neill, and Mark Shaiken (you'll find their bios below).

We discuss:

Their lessons learned about life in retirement so far

How they're investing their time now versus their full-time working years

What do they know now that they wished they did then

What they learned about themselves by writing a book about retirement

The ingredients for a Good Life today

Their advice for pre-retirees who are planning for retirement now

Dr. Barbara O'Neill joins us from Florida, Fritz Gilbert from Georgia, and Mark Shaiken from Colorado.

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Bios

Fritz Gilbert is the author of The Keys to a Successful Retirement. He retired after more than three decades in corporate America, where he progressed through the various levels of a multinational corporation serving the global aluminum industry. His award-winning blog “The Retirement Manifesto” is focused on people achieving a great retirement. Fritz and his wife, Jackie, live in a cabin in Blue Ridge, Georgia, an Appalachian Mountain town where they’re active in their local church and various local charities, including Jackie’s charity Freedom for Fido (FreedomForFido.com). When he’s not writing, Fritz enjoys spending his time outdoors and is an avid fly fisherman, mountain biker, hiker, camper, photographer, and fitness fanatic. He also cherishes his daily walks in the woods with their four dogs, who run the household. Fritz and Jackie also travel cross country in their RV to visit their daughter and her family in the Pacific Northwest.

Previous Visits:

The Keys To A Successful Retirement - Fritz Gilbert

The Soft Side of Retirement – Fritz Gilbert, The Retirement Manifesto

Website 

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Barbara O’Neill, Ph.D, CFP®, CRPC®, AFC, CHC, CFEd, CFCS, CPFFE, is the author of Flipping the Switch: Your Guide to Happiness and Financial Security in Later Life.

As the owner/CEO of Money Talk: Financial Planning Seminars and Publications, Dr. Barbara O’Neill, CFP®, AFC®, CRPC®, writes, speaks, and reviews content about personal finance. A Distinguished Professor Emeritus at Rutgers University, after 41 years of service as a Rutgers Cooperative Extension educator and personal finance specialist, Dr. O’Neill has written over 160 articles for academic publications and received more than 35 national awards and over $1.2 million in grants to support her financial education programs and research.

Employed by Rutgers since 1978, she provided national leadership for the Cooperative Extension programs Investing For Your Future and Small Steps to Health and Wealth™ for over a decade. Part of her work time is bought out to provide personal finance training for military family service professionals (for the eXtension Military Families Learning Network) and for New Jersey financial educators as part of a state Department of Education contract.

She is also the author of two trade books, Saving On a Shoestring and Investing On A Shoestring, and co-author of Money Talk: A Financial Guide for Women.

She is a certified financial planner (CFP®), chartered retirement planning counselor (CRPC®), accredited financial counselor (AFC), certified housing counselor (CHC), and certified financial educator (CFEd). She also holds the CFCS (certified in family and consumer sciences) and CPFEE (certified personal and f...

Is it time to make the healthy lifestyle changes that perhaps you've been putting off? Our guest is Glen Robison, author of  Healthy Dad, Sick Dad. The book's subtitle says it all: What Good Is Your Wealth If You Don't Have Your Health?

We discuss:

The story behind his two Dads - and what lessons he took from them

How your lifestyle choices affect your health

The most important lifestyle factors to zero in on

The biggest changes he's made personally

Yin and Yang foods - and how to achieve the optional balance

His go-to recommend resources

He joins us from Arizona.

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Bio

In Healthy Dad, Sick Dad, Dr. Glen N. Robison shares his personal journey with two very similar fathers who ended up in drastically different retirements. Determined to understand why, Dr. Robison studied his healthy father’s lifestyle and emulated it for fifteen years, with dramatic improvements to his own health. Now, he shares the secrets of living toward a long, healthy life.

Dr. Glen N. Robison is Diplomate of the American Board of Multiple Specialties in Podiatry Board Certified in Primary Care in Podiatric Medicine. Dr. Robison is a Jin Shin Jyutsu practitioner and certified Myopractor, trained in releasing deep restrictions of motion in the body that resides at the root of our symptoms and ailments. Having applied the principles found in this book for over fifteen years, he has expanded his practice to include dietary approaches that address everything from fungal infections to diabetes.

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Wise Quotes

On Adopting a Healthy Diet

"I think part of the challenge here, at least it appears to me, is that medicine today is about how a pill makes a quick fix. Work takes a little bit of a long time, but perhaps is more sustaining over a course of a lifetime. Right out of my residency, I was in my first year in practice, and I was on the go, go, go. I was trying to pay off the student loans. I was starting a family. I was trying to pay down the debt. And so I was running on willpower. I was running on adrenaline. And so I gravitated to the social things of life, the quick energy, high-sugary food type things. And over a course of time, it really started to take a toll on me. And so when I couldn't get out of bed and because of my back was hurting so bad and I realized, man, being young in practice, I didn't have any health insurance. Nothing. I was like, what am I doing? And so surgery wasn't an answer for me. I didn't want to get cut on. I know my sick dad had back surgery. I didn't want to follow down his road. So I was directed to my healthy dad. And I remember when he worked on me and he made a comment: Man, you're like a dang bag of potatoes. You're so stiff. In order to really fully get you to where you need to be, you're going to have to change what you eat. And that didn't make sense to me. I said I'm just here for my back. I just need to get my back fixed. But it took a couple of years of him talking to me and telling me that you really have to change what you eat."

On Emotions & Health

"I've learned how to engage my emotions to hold me in check, meaning that anger, grief, frustration, resentment, all these things, have a direct effect on our health. Grief and worry are directly related to diabetes. And so I could tell you a story right there that I've experienced, I had with worry and grief, that can elevate your blood sugars. And so I've been more attuned to the emotions and have learned to just be more trusting, be more forgiving, be more loving, and not take in these harsh, emotional elements that I've incorporated into my life."

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For More on Dr. Glen Robison

Healthy Dad Sick Dad: What Good Is Your Wealth If You Don't Have Your...

You'll face a myriad of decisions in planning for retirement. Wade Pfau has written a comprehensive guide to help you prepare well, financially and otherwise. He joins us to discuss how to fortify your retirement planning and decision-making.

We discuss:

How he became interested in studying retirement and retirement planning

The key risks to manage in planning for retirement

Why the traditional concept of retirement is increasingly unaffordable - and what to do instead

His views on the 4% rule

The roles that annuities and reverse mortgages can play in retirement planning

The pros and cons of working longer

What to consider in deciding where to live in retirement

The non-financial aspects of transitioning to retirement - and special challenges for introverts

How to assess your preparedness for retirement

Wade joins us from Dallas.

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Bio 

Wade D. Pfau, PhD, is Professor of Retirement Income in the Ph.D. in Financial and Retirement Planning program, Co-Director of the New York Life Center for Retirement Income, and RICP® program director at The American College of Financial Services.

Pfau is a co-editor of the Journal of Personal Finance. He has spoken at national conferences of organizations for financial professionals such as the CFA Institute, FPA, NAPFA, AICPA-PFP, and AFS. He also publishes frequently in a wide variety of academic and practitioner research journals. He hosts the Retirement Researcher blog, and is a monthly columnist for Advisor Perspectives, a RetireMentor for MarketWatch, a contributor to Forbes, and an Expert Panelist for The Wall Street Journal. His research has been discussed in outlets that include print editions of The Economist, The New York Times, The Wall Street Journal, and Money Magazine.

Pfau was a selectee for the InvestmentNews “Power 20” in 2013 and “40 Under 40” in 2014, the Investment Advisor 35 list for 2015, the IA 25 list for 2014, and Financial Planning magazine’s Influencer Awards. He is a two-time winner of the Journal of Financial Planning Montgomery-Warschauer Award, a two-time winner of the Academic Thought Leadership Award from the Retirement Income Industry Association, and a best paper award winner in the retirement category from the Academy of Financial Services.

Pfau holds a doctorate in economics and a master’s degree from Princeton University, and bachelor of arts and bachelor of science degrees from the University of Iowa. He is also a Chartered Financial Analyst® (CFA®).

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For More on Wade Pfau

Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success

Retirement Researcher Website

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Wise Quotes

On Risks

"Risks fall into a few different categories. Longevity risk is worth mentioning first, and it's a good thing in a way. You don't know how long you're going to live, and you might live a very long time, which is wonderful, but just on the financial side, it's expensive to live a long time. You have to fund your retirement for more and more years. So longevity risks really is the overarching risk, and you've got the different types of market risk and market volatility, interest rates that are changing, and so forth, just market-related risks and inflation could be part of that as well. But even a low inflation rate over a long retirement can really compound over time. And then everything else really falls into the category of spending shocks. Which is you may have a reasonable baseline budget that you anticipate, but just the unexpected events that happen outside of that, or you may have a sense of something that may or may not happen like a big healthcare bill, having to pay for long-term care,