Think Smart, Retire Smarter: Inversion
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®
4.7 • 1.1K Ratings
🗓️ 2 October 2024
⏱️ 54 minutes
🧾️ Download transcript
Summary
Welcome to another insightful episode where we kick off a month-long series on improving your decision-making abilities. This week, we delve into the concept of inversion, a powerful mental model that can significantly enhance your retirement planning. Learn how to avoid common unforced errors and make better decisions to ensure a successful retirement. Plus, get answers to listener questions about HSAs, security issues, and investment strategies. Don't miss this episode packed with practical advice and useful tips!
PRACTICAL PLANNING SEGEMENT
(00:30) This week starts a month-long series on improving your decision-making abilities
(04:38) First mental model- Inversion
(10:30) Inversion in investing
(12:20) Combining inversion with the vision pillar to determine what you want your life to be
(15:00) Using things you don’t want to help build goals of what you DO want
(15:54) Inversion with energy pillar. What do I need to AVOID to get more energy?
LISTENER QUESTIONS
(17:55) Jay asks about HSA and transferring funds
(21:55) Questions from Connie about password website, onepassword.com, and about securing social security account.
(24:55) Question about financial advisors and Dimensional Funds
(30:12) Linda asks about asset allocation and optimization.
BRING IT ON SEGMENT
(33:33) Kevin Lyles comes on to talk about identity
(37:15) Identity after retirement and losing your work identity
(43:07) Identify what you got from your career identity-wise that you want to continue in retirement
SMART SPRINT
(52:55) In the next 7 days when faced with a decision, think about inverting the question.
RESOURCES
Rock Retirement Club
https://rockretirementclub.com
Six Shot Saturday
https://sixshotsaturday.com
Roger Whitney
https://rogerwhitney.com
Vanguard
https://vanguard.com
Charles Ellis, Winning the Loser's Game
https://www.amazon.com/Winning-Losers-Game-Strategy-Investing/dp/1264257697
Bronnie Ware, The Top Five Regrets of the Dying
https://www.amazon.com/Top-Five-Regrets-Dying-Transformed/dp/140194065X
One Password
https://1password.com
LastPass
https://lastpass.com
Login.gov
https://login.gov
ID.me
https://id.me
Dimensional Fund Advisors
https://us.dimensional.com
Avantis Investors
https://www.avantisinvestors.com
The Retirement Collective- Shared Wisdom from Top Retirement Coaches
https://www.amazon.com/Retirement-Collective-Shared-Wisdom-Coaches/dp/1951915186
Transcript
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| 0:00.0 | The show is a proud member of the Retirement Podcast Network. |
| 0:04.0 | The first principle is that you must not fool yourself, |
| 0:07.3 | and you are the easiest person to fool. |
| 0:10.5 | Richard Feinman. Welcome to the show dedicated to helping you not just survive retirement but to have the confidence |
| 0:18.0 | because you're doing the work to really lead in and rock it. |
| 0:22.0 | Today's show is the beginning in and rocket. |
| 0:27.0 | Today's show is the beginning of a month long episode on improving your decision-making abilities. |
| 0:32.0 | Last month, we reviewed the eight pillars needed to build a foundation to rock retirement. |
| 0:40.0 | Those financial pillars, |
| 0:42.0 | having a vision of what you want, knowing that it's feasible, |
| 0:47.0 | making it resilient and optimizing it, there are a lot of decisions that happen to build out each one of those pillars so it makes sense that the better you can make decisions |
| 0:59.4 | The better your plan the better your life. How awesome would that be I makes total sense to me so we're going to focus on some mental |
| 1:07.1 | models that I use in my practice hopefully to help others make decisions so you can do the same thing too. |
| 1:14.4 | Now last month was a classic series |
| 1:17.5 | which gave me some time off that I needed for two things. |
| 1:20.7 | Number one was to help plan and execute on the Rock Retirement Club |
| 1:26.4 | Roundup which is our annual conference for the club where people learn from |
| 1:30.9 | each other and learn from subject matter experts. |
| 1:35.0 | We had over 280 people come to Great Vine Texas. |
| 1:38.0 | It was amazing. |
| 1:39.0 | It was magical, actually. |
| 1:41.0 | So we got that done. |
... |
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