the new retirementality · 2018-11-06 · rand study conclusions. 11 vocation the retirement that...

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.

Connecting military family service providers and Cooperative Extension professionals to research

and to each other through engaging online learning opportunities

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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


Institutional Remnants That No Longer Fit

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BigStock.com/MitchAnthony


Institutional Relics

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Paternal Model

Company Towns

Jobs �for Life

2-Year Retirement

Pension

Re4rementhaschanged.Whathappensifyoudon’tchangeyourapproach?


•  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


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


Finding Your Balance

Vacation

The Retirement That Works 12

Connecting

Leisure Vocation

Renewal

My �Retire

mentality Profile

WhataboutTheWORKERBEES?

•  THOSETHATENJOYWHATTHEYDO…..


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


Redefining Work

“An engagement that �brings value to others �and meaning to you”

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Work:noun


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.”


WHEN IS The Time To Go?

– Samuel Johnson

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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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Attitude is Everything

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“I’m aging the best way I know how, but I refuse to get OLD.”


Truth

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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)


Retiring On Purpose

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A time for purposeful engagement

Who is your Retire-Mentor?

Bucket list: impact = experiences


Investment Questions

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How will you allocate your time?

How will you invest in who you are?

Connect with MFLN Personal Finance Online!

MFLN Personal Finance

MFLN Personal Finance @MFLNPF

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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.

Please complete the evaluation and post-test at: https://vte.co1.qualtrics.com/jfe/form/SV_837c1VSo699H97D

Must pass post-test with an 80% or higher to receive certificate.

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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

the new retirementality · 2018-11-06 · rand study conclusions. 11 vocation the retirement that...

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