• The Humans vs Retirement Podcast

  • By: Dan Haylett
  • Podcast

The Humans vs Retirement Podcast By cover art

The Humans vs Retirement Podcast

By: Dan Haylett
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  • Summary

  • When it comes to retirement, many waste precious time by letting their emotions and behaviours overtake their dreams and desires. Humans are not wired for a modern retirement and are in a battle to ensure their life after work gives them freedom & joy. Each episode of The Humans vs Retirement Podcast contains expert opinions and real retirement stories that look at the emotional, behavioural and financial challenges of life after work, which will give you tools and tips to live a happy, healthy and wealthy retirement.
    ©️Dan Haylett 2023
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Episodes
  • How to find happiness and flourish in your retirement with Dr Andy Cope

    How to find happiness and flourish in your retirement with Dr Andy Cope
    Jun 14 2024
    Summary Today’s conversation is with the Dr of Happiness, Dr Andy Cope. Andy is a wellbeing expert, best-selling author and in his words a recovering academic. He specialises in positive psychology and the science of human flourishing. The reward for grinding out his Loughborough PhD is that he gets to call himself a Dr of Happiness. If you put the cheesy title to one side, Andy believes there has never been a more important time to focus on mental health and wellbeing. He has been described as a ‘wellbeing revolutionary’ and his mission is to change the narrative and re-focus psychology away from what’s wrong with people to what’s right. His messages act as a gentle nudge towards people taking charge of their own mental health. Andy’s books are frequently on the best-sellers list. ‘The Art of Being Brilliant’, ‘Shine’, and ‘Zest’ have all topped the personal development charts. ‘The Little Book of Emotional Intelligence’ and Leadership: Multiplier Effect’ are riding high in the business charts and ‘Happiness Route Map’ was nominated as The Independent’s best self-help book of the year. Andy also moonlights as a children’s author. His ‘Spy Dog’ series has sold in excess of a million copies worldwide. In this conversation Andy and I discusses the importance of focusing on wellbeing and happiness, especially during retirement. He explains that traditional psychology has primarily focused on fixing mental health issues rather than promoting wellness. Andy emphasises the need to shift the focus to happiness and flourishing, and shares insights from positive psychology. He highlights the significance of living in the present moment and finding contentment in simple experiences and positive relationships. Andy also challenges the notion of retirement as a destination for happiness and encourages individuals to prioritize their wellbeing throughout their lives. Andy emphasises the need to focus on mental wealth and living one's best life. Andy shares his journey of accidentally stumbling upon the science of living a happier life and the intentional strategies that happy people employ. They also discuss the power of reframing internal and learned beliefs and the challenge of unlearning bad habits. He highlights the importance of saying yes to growth and new experiences, as well as saying no to things that don't bring joy. They also touch on the significance of quality relationships, being present, and the negative impact of social media on happiness. Takeaways Traditional psychology has primarily focused on fixing mental health issues rather than promoting wellness.Positive psychology emphasizes the importance of happiness and flourishing.Finding contentment in simple experiences and positive relationships is key to living a fulfilling life.Retirement should not be seen as the sole destination for happiness; it is important to prioritize wellbeing throughout life. Wellbeing and happiness should be prioritized in retirement, as they contribute to a fulfilling life.Positive psychology can help reframe internal and learned beliefs, leading to a happier mindset.Unlearning bad habits and letting go of negative thoughts and behaviors is essential for personal growth and happiness.Saying yes to growth and new experiences, and saying no to things that don't bring joy, can enhance happiness in retirement.Quality relationships and being present in the moment are key determinants of happiness.The negative impact of social media on happiness should be recognized, and time spent on it should be reduced. Sound Bites "There are people out there with a smile on their face and a spring in their step." "Positive psychology is about equipping people with the knowledge and skills to take care of their own mental health and wellbeing." "The happiest moments in life are often simple experiences with loved ones." "They don't talk about wellbeing in a way that they should absolutely talk about wellbeing." "Living your best life and being your best self wasn't a thing." "The biggest barrier to me feeling amazing was actually me." Chapters 00:00 Introduction and Andy's Journey to Becoming the Doctor of Happiness 09:03 The Importance of Wellbeing and Happiness 16:02 Shifting the Focus to Happiness and Flourishing 23:06 Retirement: A Journey of Wellbeing and Happiness 24:25 Prioritizing Wellbeing and Happiness in Retirement 28:12 The Power of Reframing Beliefs and Unlearning 32:08 Saying Yes to Growth and No to Unwanted Obligations 36:48 The Importance of Quality Relationships and Being Present 40:54 The Negative Impact of Social Media on Happiness Links The Art of Brilliance Humans Vs Retirement Let's talk about your retirement!
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    47 mins
  • Empowering Women To Take Control of Their Retirement with Stephanie McCullough

    Empowering Women To Take Control of Their Retirement with Stephanie McCullough
    May 31 2024
    About Stephanie Stephanie founded Sofia Financial in 2011 after 14 years as a financial advisor, with the goal to empower women to make wise financial decisions and reduce their money stress. In her early years she encountered too many women who found finances and investing so intimidating that they either outsourced money decisions to a man in their lives (sometimes with disastrous consequences), or relied on “professionals” who too often focused more on their own paycheck than providing true education and guidance. Financial planning plays into Stephanie’s love of hearing people’s stories, and understanding and explaining complex topics clearly. She is passionate about helping more women find and succeed on this career path. Summary Stephanie McCullough, founder of Sophia Financial and host of the Take Back Retirement podcast, discusses the challenges women face when planning for retirement. She shares her journey of entering the financial industry and focusing on helping women with their retirement planning. Stephanie emphasizes the importance of empowering women to take control of their finances and make informed decisions. She highlights the unique challenges women face in retirement, such as the dominance of the male spouse in financial decisions and the need for women to take the reins after divorce or the death of a spouse. Stephanie encourages open conversations and non-judgmental support to help women navigate these challenges and create a fulfilling retirement. In this conversation, Stephanie and I discuss the challenges women face in the financial planning industry and how they can take control of their retirement. We explore the dominance of men in financial meetings, the importance of meaningful money conversations, and the need for both spouses to be involved in financial planning. They also discuss the impact of social connections on retirement happiness and how women can build and maintain strong social networks. The conversation concludes with advice for women to pay attention to their feelings around money and find a money buddy to share and learn together. Takeaways Women often face unique challenges when planning for retirement, such as the dominance of the male spouse in financial decisions.Divorce and the death of a spouse can significantly impact a woman's retirement plans and financial decisions.Open conversations and non-judgmental support are crucial in helping women navigate these challenges and make informed decisions.Empowering women to take control of their finances and plan for retirement can lead to a more fulfilling and secure future. Women often face challenges in the financial planning industry, with men dominating meetings and focusing on investments rather than meaningful money conversations.Both spouses should be involved in financial planning to ensure transparency and avoid financial abuse.Social connections and networks are crucial for retirement happiness, and women are often better at building and maintaining these connections.Women should pay attention to their feelings around money and find a money buddy to share and learn together.Women can take control of their retirement by being intentional, exploring different opportunities, and finding their own identity and purpose. Sound Bites "There's got to be a way to have a more meaningful conversation with women." "Retirement is the opportunity to figure out exactly what you want to do with your time and go do it." "Open up conversations about retirement between couples to ensure both partners' needs and desires are considered." "There's often a dominance about... the man has done this and they often kind of... dragged them along to the meeting and... they open up the meeting and they're dominant in it." "How can we have a different money conversation? How can we have something that's actually meaningful and relatable? How can we make this money actually interesting?" "A lot of women have that impression because that's the experience they've had in the financial advisor offices." Chapters 00:00 Introduction and Stephanie's Journey 06:20 Why Focus on Women Planning for Retirement? 10:25 Challenges Women Face in Retirement 16:26 Navigating Retirement After Divorce 28:27 The Impact of Grief on Retirement Plans 30:52 The Importance of Meaningful Money Conversations 35:12 Building and Maintaining Social Connections 44:08 Paying Attention to Feelings Around Money 51:48 Taking Control of Retirement Links Take Back Retirement Podcast Sofia Financial
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    58 mins
  • Rewiring The Way We Think About Retirement with Jamie Hopkins

    Rewiring The Way We Think About Retirement with Jamie Hopkins
    May 24 2024

    Summary

    Jamie was a professor at The American College and Director of the New York Life Center for Retirement Income. He is a well-recognized writer, speaker and thought leader in the area of retirement income planning. His most recent book, “Rewirement: Rewiring The Way You Think About Retirement,” details the behavioral finance issues that hold people back from a more financially secure retirement. Jamie’s impact on retirement planning has been well recognized as he has been named as both a top 40 financial services professional under the age of 40 by InvestmentNews and a top 40 young attorney under the age of 40 by The American Bar Association.

    In this episode Jamie and I discuss the need to rewire the way we think about retirement and challenge the assumptions underlying retirement planning. He emphasizes the importance of adapting spending habits in retirement and the need to minimize regret risk. Jamie also highlights the concept of self-insuring in retirement and the tendency to hold onto money due to fear of unknown future events. He suggests adopting a guardrails approach to spending and focusing on adaptive spending rather than a binary view of success or failure in retirement. They highlight the need for a more realistic approach to retirement income planning that takes into account the trajectory of spending and the magnitude of failure. They also emphasize the importance of financial literacy and education in retirement planning, as well as the potential benefits of equity release strategies.

    Takeaways

    • Retirement planning requires rewiring the way we think about retirement and challenging assumptions about saving and spending.
    • Adapting spending habits in retirement is crucial for a fulfilling and successful retirement.
    • Self-insuring in retirement can lead to holding onto money and not being able to spend it, limiting the enjoyment and fulfillment of retirement.
    • Adopting a guardrails approach to spending and focusing on adaptive spending can help minimize regret risk and create a more flexible retirement plan. Retirement planning models often overlook the trajectory of spending and the magnitude of failure, leading to unrealistic expectations.
    • Financial literacy and education are crucial in retirement planning, as individuals need to make informed decisions based on their knowledge and experiences.
    • Equity release strategies, such as downsizing or reverse mortgages, can be valuable tools in retirement income planning and should be considered as part of a comprehensive financial plan.
    • Individuals should start their retirement planning by identifying their aspirations and using them as a guide for their financial plan, ensuring that their retirement is fulfilling and aligned with their goals.

    Sound Bites

    "People need to rewire the way they think about retirement."

    "The biggest challenge is that everybody thinks retirement is the same phase in life, and we treat it the same."

    "Self-insuring is holding onto money for unknown future events, which limits spending in retirement."

    "That's a 50% chance that you're going to underspend crucially."

    "Why do we talk about anything as success and failure? Because it's actually only partial failure anyway."

    "There is a framework of flexibility in retirement spending."

    Chapters

    00:00 Introduction and Warm Welcome
    06:38 Jamie Hopkins' Journey to Retirement Planning
    09:00 Rewiring the Way We Think About Retirement
    27:07 The Benefits of a Guardrails Approach to Spending
    32:53 The Flaws in Retirement Planning Models
    37:40 The Importance of Flexibility in Retirement Spending
    42:47 The Role of Financial Literacy and Education in Retirement Planning
    53:54 The Benefits of Equity Release Strategies
    01:00:14 Starting Retirement Planning with Aspirations

    Links

    Jamie's Book - Rewirement: Rewiring The Way You Think About Retirement!
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    1 hr and 6 mins
Economics Personal Finance
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