The Most Hated F-Word Shaun Maslyk

With Dan Haylett | Director of Growth | Financial Planner | Podcaster







Summary:







In this conversation, Dan and Shaun unravel the common misconceptions about retirement. They share personal experiences and explore how true wealth involves much more than money—it's also about having time, strong social connections, and freedom. They discuss how retirement should be a mix of relaxation, meaningful activities, and personal growth. Dan breaks down retirement into three phases: the active "go-go years," the slower "go-slow years," and the quieter "no-go years," stressing the importance of planning your finances to fit these stages. Dan touches on the challenges of shifting from saving to spending and highlights the importance of thoughtful planning about what you're retiring to. Dan encourages finding a trusted financial planner to help make the most of retirement, reminding us that time is priceless, and it's crucial to consider how we use it and who we share it with.







BIO:







Dan Haylett is dedicated to inspiring retirees to embrace life and experience true wealth. As a co-director of TFP, his driving purpose is to help clients focus their time and money on what truly matters. With a deep understanding of the emotional, behavioural, and financial challenges that come with life after work, Dan is uniquely positioned to guide retirees toward the freedom and confidence they need to fully enjoy their retirement years. His commitment ensures that every client can take full advantage of the gift of their retirement years.







Takeaways









Retirement is not just about leisure activities; it should involve meaningful work, personal growth, and learning.







Wealth is not solely defined by money; it includes time, social connections, and freedom.







Clients have the answers; financial planners should listen and create a safe space for deeper conversations.







Helping clients define what true wealth means to them is crucial for a fulfilling retirement.







Retirement is a new era for personal growth and pursuing passions that may have been put on hold.







The concept of retirement as a finish line and decline is flawed; it should be seen as a start line for a new chapter in life. Retirement is an opportunity to explore who we want to be and spend our time and money on our passions.







Retirement can be divided into three phases: the go-go years, go-slow years, and no-go years.







Time is worth more than money, and it is important to prioritize how we spend our time and who we spend it with.









Quotes:









"Wealth doesn't mean money."







"The answer to how much is enough is so much lower than what they thought it was."







"Retirement allows feeling free and being curious about exploring who we want to be."







"Our spending pattern should be in line with how our healthy years and longevity will be."







"Moving from a savings habit to a spending mindset is one of the most challenging things in retirement."









LINKS:









Dan's Website: CLICK HERE







Dan's Podcast Humans vs Retirement: CLICK HERE







Dan's Social: X

With Dr. Jordi Quoidbach | Behavioural Scientist | Professor | Speaker







Summary:In this episode, Dr. Quoidbach explores the relationship between money and happiness. He points out that while money does impact happiness, its influence is surprisingly limited, especially at higher income levels. He notes that financial stress significantly affects happiness among those with lower incomes.







Dr. Quoidbach recommends seeking jobs that offer meaning, connections, and growth opportunities. He also suggests outsourcing unenjoyable tasks to free up time for more rewarding activities and emphasizes the importance of maintaining strong social ties for overall well-being.







He further discusses how wealth can reduce our ability to appreciate the smaller joys in life, as constant access dulls our enjoyment. Taking breaks from constant consumption and temporarily giving up pleasures can enhance our capacity to savour life.







The episode also touches on the benefits of happier individuals engaging more effectively in challenging discussions and negotiations, enhancing their happiness. Lastly, Dr. Quoidbach highlights research showing that happier companies perform better in the market and discusses the cognitive costs associated with poverty.







Takeaways









There is a correlation between money and happiness, but it is much lower than people think.







Money matters more at lower income levels, where financial hardship can cause stress and negatively impact happiness.







Pursue jobs that provide meaning, connection, and opportunities for growth.







Social connections are a significant predictor of happiness.







Money can act as a buffer against stress, but its impact on happiness diminishes beyond a certain point.







There is a cognitive cost to poverty. As income increases, the ability to savour the little things in life decreases.







Reminding ourselves that life is unpredictable and that access to things may not last forever can enhance our ability to savour.







Taking breaks from consumption and giving up something we enjoy for a period of time can help reset our savouring level.







Happy people are more likely to engage in tough conversations and negotiations, which can lead to overall happiness.









Quotes:









"Money offers psychological freedom to be not so much short-term focused and maybe think outside the box."







"The more you went to fine dining, the more you went to Michelin star restaurants in your life, the less likely they were to savour these things."









Links:









Dr. Quoidbach Website: CLICK HERE

With Dennis Harhalakis | Certified Money Coach (CMC)® | Founder of Cambridge Money Coaching







Summary







Dennis shares his journey from knowing a lot about money to realizing he didn't know much about money and himself. He discovered his inherited money anxiety and how it affected his behaviours and beliefs (unconscious to himself). Self-forgiveness and self-compassion played a crucial role in his journey of change. Money coaching is different from financial coaching in that it focuses on the why behind financial behaviours and helps individuals understand their money patterns and beliefs. It involves reaching out to clients, validating their feelings, and building trust and connection.







Dennis discusses the importance of creating a safe space for clients to talk about money and building trust with them. He emphasizes the need to meet clients where they are and normalize their feelings about money. Dennis also highlights the significance of understanding a client's money history and beliefs in order to help them make financial decisions. He explores the idea of having a healthy relationship with money, which is based on positive feelings about oneself, money, and money in oneself.







Highlights:









Money coaching focuses on understanding the why behind financial behaviours and beliefs.







Self-forgiveness and self-compassion are essential in the journey of change.







Inherited money anxiety can affect behaviours and beliefs around money.







Money coaching involves reaching out to clients, validating their feelings, and building trust and connection. Create a safe space for clients to talk about money and build trust with them.







Meet clients where they are and normalize their feelings about money.







Understand a client's money history and beliefs to help them make financial decisions.







Develop a healthy relationship with money based on positive feelings about oneself, money, and money in oneself.







Recognize one's own worth and sufficiency.









Quotes:









"I knew a lot about money, but not much about money and myself." - Dennis Harhalakis







"Self-forgiveness and self-compassion play a role in the journey of change." - Dennis Harhalakis







"People want to talk about money desperately. We haven't always had the environment or the trusting person that we feel like we can share." - Dennis Harhalakis









Links:









Dennis' Website: CLICK HERE

With Todd Kashdan Ph.D.| Best Selling Author | Professor | Clinical Psychologist







BIO:







Todd B. Kashdan, Ph.D. is a Professor of Psychology at George Mason University, and a leading authority on well-being, curiosity, courage, and resilience. He has published over 200 scientific articles, his work has been cited over 32,000 times, and he received the American Psychological Association’s Award for Distinguished Scientific Early Career Contributions to Psychology.







His books Curious? and The Upside of Your Dark Side has been translated into over 15 languages. His writing has appeared in the Harvard Business Review, National Geographic, and other publications, and his research is featured regularly in media outlets such as The New York Times, The Atlantic, Fast Company, and Time Magazine.







He’s a twin with twin daughters (plus one more), with plans to rapidly populate the world with great conversationalists.







Highlights:









Curiosity can help us unlock creativity and become a principled rebel







How curiosity and the art of insubordination can help us re-write our money stories







The power contained within asking questions to “seek to understand” before judging







How money can increase your well-being……..when used in the proper ways







How the three temporal dimensions (parts of time) of buying experiences provide towards our well-being (anticipation, being on the trip, post mortem)







How cultivating psychological flexibility can help us gain clarity over our money stories







Why acceptance and honouring our dark emotions is beneficial to our well-being









Links:









The Art of Insubordination Book CLICK HERE







Todd’s website CLICK HERE

With Dr. Rick Scott | Behavioural Scientist | Author | Associate Professor







Summary:







This episode explores the psychology of money and our relationships with money, beginning with a debt prioritization study that even caught the eye of financial guru Dave Ramsey, who called Dr. Scott an 'egghead'. The discussion broadens to include personal stories about how family influences and past experiences shape our spending habits.







We also examine the contrasting spending styles of 'tightwads' and 'spendthrifts,' revealing the emotions behind each approach and their impact on financial decision-making. Emphasis is placed on the importance of self-awareness in recognizing our own fears and anxieties about money.







Dr. Scott then explores how couples handle finances, discussing the benefits of joint bank accounts for fostering trust and minimizing financial disputes. It introduces the concept of financial translucency—maintaining a healthy awareness of each other’s financial activities without needing detailed oversight. Challenges arising from different spending habits are considered, highlighting how mutual understanding and compromise, particularly in gift-giving, can lead to greater relationship satisfaction and happiness.







Takeaways









The psychology of money is influenced by both mathematical and emotional factors.







Personal experiences and family stories play a significant role in shaping our views and behaviours around money.







Tightwads and spendthrifts have different orientations towards spending, but both can experience regret and anxiety.







Understanding our tendencies and emotions around money can help us make more informed financial decisions.







Joint bank accounts can promote trust and reduce scorekeeping in couples. Financial transparency and trust are crucial in a relationship.







Mismatched spending habits can be challenging, but there is potential for happiness with mindful approaches.







Finding balance and happiness in financial matters requires individuality and joint decision-making.







Privacy and secrecy can coexist in a relationship, but certain secrets can be destructive and need to be addressed.









Links:









Dr. Rick Scott's Website: CLICK HERE







Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships

With Dr. Jenny Olson | Assistant Professor of Marketing |







Summary:







Dr. Jenny Olson explores the complexities of financial decision-making among couples. She talks about why people with different spending habits often end up together and what challenges that brings. Dr. Olson also explains 'financial infidelity'—that's when someone hides or lies about money matters.







Dr. Olson discusses the reasons people might hide their spending or debts, from wanting more control to simply trying to dodge an argument. She highlights the importance of having open conversations, really understanding your partner's financial perspective, and getting to the heart of their concerns.







She also sheds light on how income affects how generous we are and how we view our partners financially. Towards the end, she offers some practical tips on managing money better together, aiming for a relationship where both partners are on the same page financially.







BIO:







Dr. Jenny Olson serves as an Assistant Professor of Marketing at Indiana University’s Kelley School of Business. Her academic research delves into consumer behaviour within interpersonal settings, focusing particularly on two main areas: consumer financial decision-making—exploring how romantic couples navigate their financial choices—and social cognition and inferential processes—investigating how individuals assess others' consumption decisions. Dr. Olson’s influential work has been featured in esteemed journals such as the Journal of Consumer Research, the International Journal of Research in Marketing, and the Journal of the Association for Consumer Research. Her research has also attracted widespread attention from the media, with coverage in major publications including The Atlantic, Boston Globe, Chicago Tribune, Forbes, Huffington Post, New York Times, NPR, Time Magazine, and the Wall Street Journal, highlighting her significant contributions to the field of consumer behaviour.







Takeaways









Opposites often attract in financial decision-making within partnerships, leading to lower financial harmony and potential tension.







Confidence and perceived control play significant roles in influencing financial decisions within relationships.







Open communication and transparency are crucial for achieving financial harmony and aligning goals and values.







Financial infidelity, defined as intentionally engaging in disapproved financial behavior and actively concealing it, can have negative impacts on financial well-being and relationship satisfaction.









LINKS:









Dr. Jenny Olson's Website: CLICK HERE