Mike Piper: Financial Considerations for People Who Have ‘Enough’

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 23 May 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

How having sufficient assets for one’s own lifetime affects decision-making for investments, charitable giving, estate planning, and taxes.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York, purchase New York.
0:26.6	Please stay tuned for important disclosure information at the conclusion of this episode.
0:32.9	Hi, and welcome to the Longview. I'm Jeff Battack, Chief Ratings Officer for Morning Star Research Services. And I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morning
0:42.3	Star. Our guests on the podcast today is Mike Piper. He's the author of several personal
0:47.2	finance books, the latest of which is called More Than Enough, a brief guide to the questions
0:51.5	that arise after realizing you have more than you need.
0:55.6	Other books include After the Death of Your Spouse, Can I Retire, Social Security Made Simple, Taxes Made Simple, and Investing Made Simple.
1:05.2	Mike also writes a wonderful blog called Oblivious Investor, which is at ObliviousInvestor.com,
1:10.5	and he has developed a free tool for
1:12.7	exploring Social Security claiming decisions. It's called Open Social Security. Mike is a certified
1:18.9	public accountant. Mike, welcome back to the Longview. Thank you. I'm happy to be here.
1:24.5	Really happy to have you back on the podcast. Wanted to start with your book.
1:28.9	Your book is geared toward people who have determined that they have enough, quote unquote.
1:33.8	But how can people make a sober assessment of whether they have enough in the first place?
1:39.4	Are there any heuristics that you would recommend? Sure. So that's admittedly a bit of a tricky question because
1:47.2	obviously there's all of the research, including Mooring Stars research on safe spending rates.
1:52.7	What's often assumed in a lot of that research is that you're going to be spending at a
2:00.1	steady amount or a steady level from the
	...

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