It’s a super-sized episode today—and for good reason. We spend the bulk of the show in a deep, insightful conversation with Dr. Meir Statman, a leading voice in behavioral finance. I also walk you through the four non-financial pillars of retirement: mindset, energy, passions, and relationships. We'll talk about how to manage what you can control—and how to respond when life throws you the stuff you can’t. Plus, we answer a few of your questions. There’s a lot here, but it’s worth every minute. Let’s get to it.

SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

(00:00) This podcast is dedicated to helping you survive retirement with confidence
(00:34) Today on the show we are going to focus on the non-financial realm as we continue talking about process and things we can control versus what we can’t control.

ROCKIN RETIREMENT IN THE WILD

(02:14) Roger shares an anonymous message from a listener about her husband retiring and the confidence they have built in their retirement.

PRACTICAL PLANNING SEGMENT

(04:50) Sometimes in retirement planning, we tend to overemphasize the financial side of things and forget about the rest of our lives.
(06:23) Roger identifies controllables and non-controllables within the non-financial pillars of retirement.
(14:50) Roger talks about some examples of people who focused on things that they could control and found success.
(16:19) Roger says that the Rock Retirement Club has been a source of inspiration for him.

INTERVIEW WITH MEIR STATMAN

(18:13) Roger introduces Meir Statman, author of A Wealth of Wellbeing.
(19:34) Roger asks what motivated Dr. Statman to write his latest book.
(22:10) Dr. Statman talks about his relationship with Nobel Prize winner, Harry Markowitz
(25:57) Roger talks about behavioral finance and what it means from his perspective.
(30:02) We talk about financial wellbeing but you also need to focus on life wellbeing.
(31:06) Dr. Statman discusses a u-curve in life wellbeing.
(37:25) Roger and Dr. Statman talk about accepting who you are.
(39:30) Dr. Statman talks about the components of wellbeing.
(41:49) Roger asks about social capital in retirement.
(49:00) Starting a conversation is really important, Meir says
(51:19) What is cultural capital?
(57:32) Developing social, cultural, and personal capital becomes harder as you get older.
(01:01:38) What is personal capital?

LISTENER QUESTIONS

(01:04:42) Listener Brian sends a question about generating his retirement paycheck.
(01:17:52) Another listener named Brian asks about investing in annuities.

SMART SPRINT

(01:22:20) In the next seven days, before you get out of bed, smile and tell yourself it is going to be a great day!

BONUS

(01:22:48) Roger reads from his grandfather’s WWII journal.

REFERENCES

BOOKS

Process Over Panic: Building a Great Life with Dr. Meir Statman

Retirement Answer Man

Learning New Tricks as You Age

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