Virtual Learning Event: Retirement Revised
https://learn.extension.org/events/2920
The New Retirementality
This material is based upon work supported by the National Institute of Food and Agriculture, U.S. Department of Agriculture, and the Office of Military Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368.
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Mitch Anthony
Founder and president of Advisor Insights and the Financial Life Planning Institute, a provider of financial life planning tools and programs for the financial services industry.
Today’s Presenter
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How to get the best Return on Life in RetirementBased on The New Retirementality by Mitch Anthony
© 2002-2015 Mitch AnthonyBigStock.com/MitchAnthony
The Retirement That Works
Retirement: A Brief History
Age set at 62 �when people �lived to 63
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German Chancellor�Otto von Bismarck
introduces �modern pensions
Age set at 70 �(later lowered to 65)
Great Depression �and Social Security
1885 1918 19371935
Otto von Bismarck
The Retirement That Works
Institutional Remnants That No Longer Fit
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BigStock.com/MitchAnthony
The Retirement That Works
Institutional Relics
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Paternal Model
Company Towns
Jobs �for Life
2-Year Retirement
Pension
Re4rementhaschanged.Whathappensifyoudon’tchangeyourapproach?
The Retirement That Works
• Sense of identity loss
• Social/relationship challenges
• Change/reduction in mental stimulation
• Psychological issues around not getting a paycheck
• Extra time to fill in the day
• Anxiety/depression
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Retirement Challenges
BigStock.com/MitchAnthony
The Retirement That Works 10
Takes 2 to 4 attempts
6 month rebound into “unretirement”
Diminishing returns on leisure
Rand Study Conclusions
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Vocation
The Retirement That Works
Finding Your Balance
Vacation
The Retirement That Works 12
Connecting
Leisure Vocation
Renewal
My �Retire
mentality Profile
WhataboutTheWORKERBEES?
• THOSETHATENJOYWHATTHEYDO…..
The Retirement That Works
Top Four Reasons
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People Gave For Continuing Their Work
FRC STUDY
90%
Staying healthy
87%Money
for extras
82%Staying �
socially active
79%
The challenge
The Retirement That Works
Redefining Work
“An engagement that �brings value to others �and meaning to you”
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Work:noun
The Retirement That Works
WHEN IS The Time To Go?
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Ask Yourself: “What is the expiration date on your intellectual, relational, and experiential capital?”
“Do not think of retiring until the world will be sorry to see you retire.”
The Retirement That Works
WHEN IS The Time To Go?
– Samuel Johnson
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The Retirement That Works
The New RetireMentality Challenge
• Pursue what is meaningful in your life.
• Challenge mind, body, and spirit.
• Round out pursuits.
• Delay distributions.
• Watch your “attitude instrument.”
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The Retirement That Works
Attitude is Everything
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BigStock.com/MitchAnthony
“I’m aging the best way I know how, but I refuse to get OLD.”
The Retirement That Works
Truth
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The Retirement That Works
Elasticity
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“We get old because we give things up.”Mayo Clinic Study on Stress and Pessimism
– Theodore Green (93 year-old Senator)
The Retirement That Works
Retiring On Purpose
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A time for purposeful engagement
Who is your Retire-Mentor?
Bucket list: impact = experiences
The Retirement That Works
Investment Questions
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How will you allocate your time?
How will you invest in who you are?
Thank you
© 2001-2015 Mitch Anthony
BigStock.com/MitchAnthony
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Evaluation and Continuing Education Credits
MFLN Personal Finance is offering 1.5 CEUs for today’s webinar for AFC-credentialed and CPFC-credentialed participants.
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Personal Finance Virtual Learning Event – Next Session
Catch-Up Retirement Savings • Date: Thursday, June 8, 2017 • Time: 11 a.m. Eastern • Location: learn.extension.org/events/2935
For more information on MFLN Personal Finance go to: https://militaryfamilies.extension.org/personal-finance
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Personal Finance Upcoming Event
Behavioral Ethics & Personal Finance: A Discussion of Morality, Bias & Framing
• Date: July 11, 2017 • Time: 11 a.m. Eastern • Location: learn.extension.org/events/2961
For more information on MFLN Personal Finance go to: https://militaryfamilies.extension.org/personal-finance
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This material is based upon work supported by the National Institute of Food and Agriculture, U.S. Department of Agriculture, and the Office of Military Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368.
militaryfamilies.extension.org/webinars