PFR Nation,
I recentlydiscovered a Ted Talk by Dr. Riley Moynes about the “4 phases of retirement.”
We talk a lotabout the financial side of retirement planning.
- Safe withdrawal rates
- Tax efficiency
- Investing to and through retirement
- Legacy
- Insurance
However, it’s equally important to understand and thinkabout the softer side of retirement planning. In this episode, you will want to hear Dr. Moynes’ take on the 4 phases,and I’ll talk about a real-life hero in the College Football world that canhopefully inspire you to SKIP the dark and depressing phase!
I hope you enjoy this one.
-Kevin
Takeaways
· Retirement is not just a financialtransition; it's an emotional journey.
· Understanding the four phases ofretirement can help avoid pitfalls.
· The vacation phase is characterized byfreedom and excitement.
· The loss phase involves identity andpurpose challenges.
· Michael Phelps' experience illustratesthe emotional struggles of retirement.
· Therapy and seeking help can be crucialduring transitions.
· Finding new meaning in retirement isessential for fulfillment.
· Engaging in service and mentoring canenhance retirement satisfaction.
· Financial independence allows forexploration of new passions.
· Planning for purpose in retirementshould start before retirement begins.
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This is for general education purposes only and should not be considered as tax, legal or investment advice.