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Money Tree Investing

Retirement Solutions & Challenges For Each Generation

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6658 Ratings

🗓️ 22 November 2024

⏱️ 70 minutes

🧾️ Download transcript

Summary

Anne Lester is here to discuss the retirement solutions and challenges that are facing each generation. Ann shares insights into the challenges of saving for retirement, influenced by her personal experiences as a former "terrible saver." There is a lot the anxiety surrounding retirement savings, the pitfalls of focusing on "the number," and the importance of understanding personal spending flexibility and failure lines. Ann discusses generational differences in retirement preparedness and highlights strategies for building retirement savings, such as saving future raises and adjusting spending priorities. 

Today we discuss...

  • How Anne helped create the JP Morgan Smart Retirement Target Date Fund.
    Retirement challenges, including income uncertainty and spending in later life.
  • Understanding personal "failure lines" and acceptable lifestyle adjustments.
  • Generational wealth differences, with Gen Z and Millennials saving more early.
  • The importance of employer-sponsored 401(k) plans for wealth building.
  • Younger generations face challenges saving for retirement but are encouraged to stay the course for long-term stability.
  • The housing market imbalance is influenced by limited supply, high prices, and generational trends in homeownership.
  • Starter homes are increasingly unaffordable, forcing many young buyers to rely on financial help from family.
  • The housing market could improve in 5-10 years as demographics and housing supply gradually shift.
  • Multifamily housing and smaller new builds are growing trends, potentially offering more affordable options for buyers.
  • Behavioral economics and AI have the potential to assist individuals in managing spending habits and savings strategies.
  • Credit availability and understanding its consequences play a significant role in financial outcomes for younger generations.
  • Boomers struggle with transitioning from saving to spending in retirement, often leaving unused funds.
  • Generational differences in attitudes toward spending, saving, and credit reflect diverse economic experiences.
  • Future perspectives on bonds may involve alternative strategies as economic conditions evolve.

For more information, visit the show notes at https://moneytreepodcast.com/retirement-solutions-anne-lester-662

 

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Jeff Hulett | Finance Revamp

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Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Money Tree Investing Podcast.

0:04.0

Stock market, wealth, personal finance, value stocks, invest in your life.

0:10.0

Hello, the Smart Money Tree Podcast listeners.

0:12.0

Welcome to this week's show.

0:13.0

My name's Kirk Chisholm and I'll be your host.

0:15.0

So today I'm joined with Ann Lester.

0:17.0

How do you, Ann?

0:18.0

I'm good.

0:19.0

How are you?

0:20.0

Doing great. It's a bright sunny day here this fall. Tell us a little bit

0:23.6

about your background before we begin. So I spent almost 30 years working at J.P. Morgan

0:28.2

Asset Management, where I was a portfolio manager. I started and managed the J.P. Morgan

0:33.5

Smart Retirement Target Date Fund, spent about 20 years really focusing on defined contributions, saving and investing, doing research, looking at policy areas, and really

0:42.7

trying to figure out how to help people retire when they want to with an amount of money

0:47.2

that lets them maintain their lifestyle.

0:49.1

You really like retirement.

0:50.6

What's drawing you to that?

0:52.1

What is it about retirement that really excites you?

0:54.5

You know, the first person to ask me that question.

0:56.7

Man, a couple of things.

0:58.4

One, I was a terrible saver in my youth, and I really messed up everything about my own financial situation.

1:05.7

And it wasn't until I was asked by J.P.organ asset management to sort of look into building a retirement

...

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