CLASSIC EPISODE The 8 Pillars of Rocking Retirement: Vision and Feasibility
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®
4.7 • 1.1K Ratings
🗓️ 4 September 2024
⏱️ 51 minutes
🧾️ Download transcript
Summary
This September, we're doing something a bit different. We're revisiting the basics with a refresher on the eight pillars of rocking retirement—four financial and four non-financial pillars that form the foundation for a great life. Too often, retirement planning gets bogged down with too many details and the pressure to get everything right. But in my experience, focusing on the most important things gets you 90% of the way there. This month, we’ll air classic episodes to revisit these pillars, starting today with the first two financial pillars: Vision and Feasibility.
The first financial pillar we are going to discuss is VISION. How do you start to figure out your vision in retirement? We would suggest reconnecting with who you actually are outside of your identity as an employee and identifying your core values. The second pillar in the financial realm is having a FEASIBLE plan. The objective is to establish a foundation of a safe path that is feasible given the resources and the choices that you are willing to make.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
PRACTICAL PLANNING SEGMENT
- 00:28 September will focus on the eight pillars of rocking retirement
- 08:00 First two pillars of rock retirement are vision and feasibility
- 08:14 Vision: What do you want when you retire?
- 13:28 What are some of the obstacles to creating a vision in retirement?
- 17:44 The next pillar in the financial realm is having a feasible plan
LISTENER QUESTIONS
- 24:10 Listener Scott has a tip about going from two to one
- 26:13 Bill discusses piecake
- 27:44 Our next question is from Steve related to asset allocation in retirement
- 33:53 Another listener, Steve, wants to know if a stable value fund is a good investment
BRING IT ON
- 38:33 Kevin Lyles talks passion in work and volunteering in retirement
SMART SPRINT
- 45:55 Think about your life as a clean slate
✍️ Episode References
Six Shot Saturday
https://sixshotsaturday.com
The Top Five Regrets of the Dying- Bronnie Ware
https://bronnieware.com/regrets-of-the-dying/
The Retirement Manifesto- Fritz Gilbert
https://www.theretirementmanifesto.com/
Stocks for the Long Run- Jeremy Siegel
https://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514
Transcript
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| 0:00.0 | The show is a proud member of the Retirement Podcast Network. |
| 0:04.0 | Welcome to the show focused on you. |
| 0:08.0 | Having the confidence to not just survive retirement but lean in and really rocket. My name is Roger Whitney. I am a |
| 0:15.6 | practicing retirement planner with 30 years experience and this show has been my |
| 0:20.3 | vehicle for improving my craft and hopefully empowering you to go create a great retirement. |
| 0:28.6 | So September is going to be a little bit different. |
| 0:30.6 | We are going to do a refresher on the basics, the eight pillars of rocking retirement. |
| 0:38.2 | These eight pillars, four financial, four non-financial, are the things I think we need to focus on to get in place as a |
| 0:46.4 | foundation in order to go create a great life. Part of the problem with |
| 0:51.4 | retirement planning from an industry perspective, but also when you're doing your own is focusing on too many things. |
| 1:00.0 | Number one, and number two, trying to get everything right. I mean this is |
| 1:07.2 | important decisions I get that but maybe this is controversial, I don't know. |
| 1:13.0 | In my experience, you just need to focus on the most important things |
| 1:20.0 | to get 90% of the way there. |
| 1:22.0 | And I would argue these eight pillars that we're going to go over this month |
| 1:25.0 | and have a refresher of are the most important things. |
| 1:29.0 | Second, I would argue that getting it right is overrated. |
| 1:35.0 | I would argue that getting it good enough is good enough. |
| 1:40.0 | Doesn't mean that you don't always work to improve things, but we can obsess with getting it right with all the merement of choices we have, |
| 1:51.0 | and drive ourselves bady and create a lot of undue stress and anxiety. |
| 1:56.1 | We always want to improve, but getting it good enough, especially with the foundation, |
| 1:59.6 | is going to get you most of the way there and take a lot of pressure off all the things you feel like you're missing. |
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