This retirement podcast covers the changing nature of retirement today. Our guests offer useful insights on how to retire as well as the non-financial aspects of a successful retirement transition including retiring early, working longer and making a career shift in pre-retirement.
Best of The Retirement Wisdom Podcast – On Successful Aging
Is planning for successful aging part of your retirement planning?
We've had the pleasure of talking with a number of experts who can help you be prepared to live well across your lifespan.
This mini-episode highlights key points you'll want to think about and include in your planning.
You can listen to the full conversations here:
Retirement is a major life change, and it can be hard to know what to do next.
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Lifelong Learning – Michelle Weise
Lifelong learning is an essential element of a satisfying retirement. And lifelong learning is an increasingly vital part of a successful career, including a second career. Our special guest, Dr. Michelle Weise, explains how longer lifespans are changing the nature of careers and education, and why lifelong learning is important for individuals and employers.
Dr. Michelle R. Weise is the author of Long-Life Learning: Preparing for Jobs that Don’t Even Exist Yet. Thinkers50 named her one of 30 management and leadership thinkers in the world to watch in 2021. She is a senior advisor at Imaginable Futures, a venture of The Omidyar Group. Dr. Weise's work over the last decade has concentrated on preparing working-age adults for the jobs of today and tomorrow. She was the chief innovation officer of Strada Education Network as well as Southern New Hampshire University. With Clayton Christensen, she coauthored Hire Education: Mastery, Modularization, and the Workforce Revolution (2014) while leading the higher education practice at Christensen’s Institute for Disruptive Innovation.
Dr. Weise also advises BrightHive, a data collaboration platform, the Institute for Higher Education Policy (IHEP), the SkillUp Coalition, Strategic Education Inc.’s HIRE board, MIT SOLVE, Village Capital, Western Governors University Teachers College, Clayton Christensen Institute Social Capital R&D Project, and World Education’s Personal and Workplace Success Skills Library. She has also served as a commissioner for Massachusetts Governor Baker’s Commission on Digital Innovation and Lifelong Learning, Harvard University’s Task Force on Skills and Employability, and the American Academy of Arts and Sciences’ Commission on the Future of Undergraduate Education.
Her commentaries on redesigning higher education and developing more innovative workforce and talent pipeline strategies have been featured in The Economist, The Wall Street Journal, The New York Times, and Harvard Business Review and on PBS Newshour.
Michelle is a former Fulbright Scholar and graduate of Harvard and Stanford.
"...basically since the 1840s, every year we've added on an average of three months to our lifespans. And there's no sign that that's actually stopping or lessening over time. I think we do have an interesting phenomenon here with the pandemic that is kind of shaping our mortality rates, obviously in this century, in this year, in this decade. But for the most part, we know that our lifespans have been extending. And then there are different kinds of futurists and experts on aging and longevity who are proposing that the first people to live to be a hundred and years old have already been born. So if we just take this concept of a hundred-year life or 150 year work-life, even if we don't maybe fully buy into it, or want to buy into it because we don't want to live 150 years, that's still a very helpful mental model for us to think about how do we actually thrive in this future, where we are already seeing that a lot of working-age adults are staying in the workforce for far longer than they had ever anticipated well into their sixties and seventies.
On Preparing for an Extended Worklife
"We see that early baby boomers are experiencing 12 job changes on average by the time they retire. So even if we just extend a little bit in terms of thinking about an extended work-life, whether it's 60, 80, or a hundred years, it's not actually that difficult for us to extrapolate and think, 'Oh, we could possibly face maybe 20 or 30 job changes by the time we retire' - and how in the world are we going to do that when navigating one [job change] is so difficult. And so the way that I think about a way to visualize this idea of long-life learni...
How to Make Healthy Lifestyle Choices – Alan Carpenter
Healthy choices create a healthy lifestyle, but how can you consistently make the best choices? Having solid information is a good start, but it's not enough. By making some simple, targeted adjustments, it is easier than you think to create healthy habits that will last. Our guest, Alan Carpenter, shares his personal experience, insights, and advice on how he learned to make the right healthy lifestyle choices - and how you can too.
Alan joins us from Colorado.
Like many of you, Alan Carpenter was living a good life. But that almost ended on June 16, 2013 when he suffered a life-threatening accident. In spite of the pain and ensuing incapacitation, the accident turned out to be a blessing in disguise. While recuperating from his injuries, Alan realized that he had taken his life for granted—especially his health and well-being. To learn how to rejuvenate his health and well-being, he spent more than six years combing the scientific and medical literature. He synthesized what he found into nine simple, evidence-based, practical healthy lifestyle choices. His newly published book, Choose Better, Live Better, presents the scientific case that making healthy lifestyle choices can rejuvenate your life.
Alan urges you to embrace these healthy lifestyle choices and incorporate them into your daily life. When you do, you’ll enjoy greater life energy, you’ll have a wider network of support relationships, and you’ll live with purpose—among many other desirable outcomes. Plus, you’ll greatly reduce your risk of debilitating chronic diseases including Alzheimer’s disease, cancer, and type 2 diabetes. Alan uses his knowledge and life experiences to help people increase their Quality of Lifespan. In other words, helping others live better and longer. To that end, Alan offers keynotes, breakout sessions, and trainings to bring his critically important message to the world.
Alan is also a veteran long-distance hiker and cyclist. Since embarking on his first long-distance hike at age 62, he’s logged 17,300 miles of long-distance adventures. They include hiking the John Muir Trail (twice), the Colorado Trail (twice), the Pacific Crest Trail, the Appalachian Trail, and half of the Continental Divide Trail. He also bicycled the cross-country Pacific Coast, Southern Tier, and Northern Tier Routes. Alan attributes his continued ability to complete these physically and mentally demanding trips to the healthy choices he’s incorporated into his daily life.
On Key Healthy Choices
"What I call cultivate social connections, until maybe about 20 years ago, the medical community was pretty much clueless about this, but it's a huge deal. And the evidence is really solid on this. In fact, there are people that think this is the biggest deal of all, what I call social connection. And then under the category of the spirit, I would say the big one is to cultivate a positive mental attitude in that umbrella. I see three key items and they would be optimism, gratitude, and forgiveness. And just think about that for a minute. Wouldn't you rather be around people who are positive, upbeat can-do, and grateful for what they have in life? And are willing to forgive themselves and other people for boo-boos in their lives? Of course, life would be so much more wonderful if everybody lived that way."
On Finding Purpose
"I think for many people, it's some event in their life that really turns their life upside down for a while. For me, it was almost getting killed while I was hiking the Pacific Crest Trail and coming home. And just coming to terms with that, that was a big deal. And I talked to other people who have had these really just traumatic injuries and illnesses. And it's the same story over and over. When these folks get home from the hospital,
Who Will Take Care of You When You Are Older? – Joy Loverde
Does your retirement planning account for caregiving? Will you be a caregiver? Who will be your caregivers?
We talk with expert Joy Loverde about what you should include in your retirement planning.
Joy joins us from Chicago.
Joy Loverde has a reputation for being a path carver and visionary. Joy is the author of the Who Will Take Care Of Me When I’m Old? and the best-seller, The Complete Eldercare Planner. The American Medical Association says, “It’s the best book we’ve seen.”
With over 30 years experience as a media spokesperson, Joy's appearances include the TODAY Show, Good Morning America, CBS Early Show, ABC News, Fox News, National Public Radio, SiriusXM, and others.
During her career, she has been quoted in the Wall Street Journal, TIME, Money, New York Times, U.S. News & World Report, Reuters, Reader’s Digest, Family Circle, Psychology Today, Good Housekeeping, among others. USA TODAY ran a four-part series on Joy’s eldercare programs.
Joy specializes in keynotes for family members and professionals including employers, women's groups, centers for healthy aging, associations, law firms, financial institutions, alumni associations, senior housing, health care providers, and retreat centers and others.
A seasoned on-camera professional, product endorsements include GoodFeet, Estate Inventory Services, Age Without Borders, Energizer Battery Company, Boomer Living, American Senior's Housing Association, and a host of other products and services.
With a focus on the mature-market population, Joy serves as a marketing and media consultant to senior housing, HR professionals, attorneys, financial planners, clergy, and other members of the fast-growing eldercare industry.
Joy’s work has taken her to every corner of the world where she has personally interacted with thousands of family members and professionals in the field of aging. She also loves connecting with you on social media.
Wife, mom, grandmother, Cubs fan, Joy was caregiver to her parents, is married to family-law attorney, David V. Schultz, is grandmother of 10, and resides in Chicago.
On Thinking Like a Strategist
"Well, first of all, people don't know what thinking like a strategist is. So what I like to do is just break open that can of worms by saying critical thinking is really the practice of changing your perspective. If you just continue to think the way you always have, it might just keep you in that little box and nothing will really change in your life. So the idea about thinking critically just breaks that wide open. So here's how I do it. I talk to people who are very different than me, different cultures, different careers. And I ask them questions that scare me because they will have a whole different idea about things that might pertain to aging. That is quite scary. So I talk to people who are different. I also talk to people who are young and people who are old. And one of my favorite advisors is my eight-year-old granddaughter. And I ask her this question all the time. I say, what would you do if you were me? So that is what I mean by thinking strategically."
"If you're going to be a caregiver, the number one rule is to get a financial planner for yourself because the expenses of being a caregiver can be quite emotional. So if we find out that mom or dad is running out of money, most caregivers, because they're so loving and wonderful, start to dip into their own pockets and they start shelling out money and really jeopardizing their own retirement. So the number one thing that people need to do, if they anticipate being a caregiver, is to get a financial planner. Find out how much money you have,
Life’s Big Decisions – Adrian Camilleri
Some key life decisions can have consequences that reverberate for years. And as you plan for retirement, there are big decisions ahead. What lessons can we learn from emerging research on how to make big decisions? Our guest, Dr. Adrian Camilleri, has engaged 657 Americans (from 20 to 80) on the ten big life decisions they've made so far.
Dr. Camilleri joins us from Australia.
Dr. Adrian Camilleri is a senior lecturer in marketing at the University of Technology Sydney. He holds a bachelor’s degree in psychology, a Master’s degree in organizational psychology, and a Ph.D. in psychology, all from the University of New South Wales. He completed postdoctoral training in management and marketing at Duke University’s Fuqua School of Business. Adrian is an expert in the fields of cognitive, organisational, and consumer psychology.
On Big Career-Related Decisions
"One of the categories of big decisions that I focused on was career-related decisions. And so these involve questions like starting a new job, quitting a job, starting a business, closing down a business, joining the military, leaving the military, and then retirement. And so when important results from the interviews that I conducted was to look at how these different categories of big life decisions changed between those of different age groups... So leaving a position is also often a very big life decision...And obviously, these career-related decisions culminate in what's usually the final career-related decision. Quite a number of people. who are about the age of 60, in my survey, had actually decided to retire. So retirement is certainly one of life's biggest decisions for those who have managed to the point where they're considering concluding their working career. More than half of those above the age of 60 years old had mentioned explicitly retirement as one of their biggest life decisions...So, when we look at lifestyle satisfaction, those who had already retired, who made that big decision, rated high on life satisfaction compared to those who are not [retired]. Now again, I put the sort of caveat on correlation data. So it could be that those who are already happy with their life are much more likely to retire. But there's something to be looked at there because I have seen all the research suggesting that those who retire, many of them end up kind of feeling aimless and bored, even unhappy."
On Self Development Decisions
"And what we see is that self-development type decisions don't frequently make it onto the list of biggest life decisions, but they do tend to increase over time. So those who are in their sixties and seventies tend to be making more self-development decisions than those who are younger. And as I have mentioned, these self-development decisions tend to be ones that are evaluated more positively. Another follow-up question that I asked participants was how much time did you spend thinking about the decision before you made it? And there's a nice contrast here between self-destructive and self-development decisions. So those who are making these self-destructive decisions such as committing a crime, taking drugs or something like that, were often thought about for seconds, perhaps minutes. In contrast, self-development decisions were often thought about for months, if not years. And we can think about these self-development decisions in terms of the more positive ones, like pursuing your religion or philosophy or engaging a new hobby or learning a new skill. But certainly reading through the stories that I was presented within these survey results, there were a number of people who were of age 60 and older, who had big life decisions related to seeking treatment. So whether they were deciding to get an operation or to do with cataracts,
Tools for a Career Change – Mark Herschberg
What was your career plan when you were graduating from college? You probably didn't leave college equipped with the skills to make a career change midlife. So if you're considering a second career, a career change at 50 or a career change at 60, our guest today has valuable information you'll want to hear. If you have family members, colleagues, or neighbors who ask you for career advice, you'll find this conversation very helpful.
Mark Herschberg is the author of The Career Toolkit, Essential Skills for Success That No One Taught You. From tracking criminals and terrorists on the dark web to creating marketplaces and new authentication systems, Mark has spent his career launching and developing new ventures at startups and Fortune 500s and in academia. He helped to start the Undergraduate Practice Opportunities Program, dubbed MIT's "career success accelerator," where he teaches annually. At MIT, he received a B.S. in physics, a B.S. in electrical engineering & computer science, and a M.Eng. in electrical engineering & computer science, focusing on cryptography. At Harvard Business School, Mark helped create a platform used to teach finance at prominent business schools. He also works with many non-profits, including Techie Youth and Plant A Million Corals. He was one of the top-ranked ballroom dancers in the country and now lives in New York City, where he is known for his social gatherings, including his annual Halloween party, as well as his diverse cufflink collection.
On Career Changes Midlife
"This is my third recession and I'm only mid-career. So I, I very much see and understand what they're going through. In fact, during the great recession, I helped teach at a program sponsored by New York's Economic Development Council, in which we were taking people who lost not simply their job, but their career. Their entire career was getting displaced and not coming back post-recession. And New York said to us: We can't have them sitting on the sidelines. These are capable people. How do we get them back to work? We looked at where the jobs were being created and the nature of those jobs, typically the people being displaced were coming from large corporations. So certainly coming out of 2008, 2009, lots of financial services, lots of big companies where you had multiple layers of bureaucracy. The jobs being created were in tiny companies in startups, in companies, less than 50 people, sometimes less than 20 people. The biggest change was trying to get people to see those jobs and feel comfortable in those jobs. It wasn't so much a domain skill challenge. It's not that. If you've been at big corporations, your whole life, look at these small companies and then recognize that cultural difference.
So if you're in a big company of 30,000 people, you're used to having the pre-meeting to plan the meeting, to coordinate the meeting for the meeting to discuss something. So at six months later, decisions made when you're at these tiny 20 person startups, and you say, Hey, I have an idea. So you turn around in your chair and you're talking to the boss, who's sitting three feet from you in another chair because there are no offices here. And the boss says, okay, that sounds great. Well, that was the meeting. Those were the six months condensed to a six-minute conversation and understanding these cultural differences, how the businesses operate, that you can move fast and break things, which is very different from these big traditional corporations. That was the biggest challenge. And so to people who are saying, I need to find something different. It's not just the same job with a different company. Look at different types of companies and understand it's not just going to be the mechanics of the role, but understand the cultural differences.
Getting ready for encore career. This podcast is very thought provoking and helpful for the non-financial decisions. Joe does a good job of interviewing guests and let’s them talk uninterrupted. Recommended.
Topics reflect the new realities of how we live and work in the second half of life.
Great guests & interviews
Joe & Dennis consistently deliver outstanding and informative interviews. Great job!