How financial planning evolved

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Retirement brings so many tough questions.

Share your question (for a friend, of course…) to be answered in an upcoming retirement podcast episode.

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What really makes for a successful retirement? Financial readiness is only part of the story. After decades in the financial planning world, Joseph Maugeri, a CFP professional and former executive at the CFP Board,  knew what to expect. But when he stepped into retirement himself, he was surprised by  the mental and emotional transition to retirement.

In this episode, Joseph shares the lessons he’s learned firsthand—what surprised him, what helped him adjust, and the SHELF framework he built to stay balanced and purposeful in retirement.

If you’re planning your own transition or supporting someone who is, Joseph’s insights will help you navigate it with more confidence, patience, and optimism.

Joseph Maugeri joins us from Pennsylvania.

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Bio

Joseph V. Maugeri, CFP®  joined the CFP Board in 2011. Prior to his retirement, he was the Managing Director, Corporate Relations, focused on continuing to strengthen and enhance the organization’s connections within the financial services industry. His responsibilities include the growth of CFP® professionals among all channels, marketing initiatives, product development and membership on the Executive Leadership Team.

Prior to his appointment at CFP Board, Maugeri was a Vice President and head of the Professional Alliance program at Merrill Lynch; a Director at SEI Investments, Inc., leading its marketing and distribution support services; and worked for more than 14 years as a financial advisor at AXA Advisors, LLC.  He received his Bachelor of Arts from Temple University, an M.S. in Leadership Studies from Northeastern University and has completed a Competitive Marketing Strategy Executive Education program at the Wharton School of Business.

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Two New Designing Your Life groups kicking off in January

Early registration discount ends 12/15

Learn more and sign up today 

Limited to 10 spots per group

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Podcast Conversations You May Like

The Inspired Retirement – Nathalie Martin

Retiring: Creating a Life That Works for You – Teresa Amabile

The Balancing Act in Retirement – Stew Friedman

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Mentioned in This Episode

Let’s Make a Plan – Find Your CFP®  Professional

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About The Retirement Wisdom Podcast

There are many podcasts on retirement, often hosted by financial advisors with their own financial motives, that cover the money side of the street. This podcast is different. You’ll get smarter about the investment decisions you’ll make about the most important asset you’ll have in retirement: your time.

About Retirement Wisdom

I help people who are retiring, but aren’t quite done yet, discover what’s next and build their custom version of their next life. A meaningful retirement doesn’t just happen by accident.

Schedule a call today to discuss how the Designing Your Life process created by Bill Burnett & Dave Evans can help you make your life in retirement a great one — on your own terms.

About Your Podcast Host

Joe Casey is an executive coach who helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ He created his own next chapter after a 26-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.

Joe has earned Master’s degrees from the University of Southern California in Gerontology (at age 60), the University of Pennsylvania, and Middlesex University (UK), a BA in Psychology from the University of Massachusetts at Amherst, and his coaching certification from Columbia University.

In addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, ranked in the top 1% globally in popularity by Listen Notes, with over 1.6 million downloads. Business Insider recognized Joe as one of 23 innovative coaches who are making a difference. He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Wise Quotes

On Resilience & Retirement

“People who retire well, I believe, are also resilient. They have handled setbacks in their life and they know and expect that not everything will go perfectly, but their ability to handle and recover from setbacks helps them bounce back. The people who struggle in retirement are in many ways the opposite. They maybe haven’t had time to think or plan about retirement and they may have a failure of imagination about the possibilities, and they also may not have the emotional traits that help them through some of the changes in variable setbacks that they’re going to encounter. They know retirement will be a big change, but they’re unsure how they’ll handle the change and they may not be seeing the upside and opportunities they will have. People in many ways are strangers to themselves. Retirement’s a way that we’re forced to confront who we are and what we’re going to do with the remainder of our lives.”

On The SHELF Framework

“A few months into my retirement, I realized I needed some structure, something to help me stay focused on the right things each week. I wasn’t looking for a formula for happiness or purpose, those are kind of abstract, and I felt those are more outcomes that take time to achieve. I wanted something more like a roadmap to follow that hopefully leads to those outcomes, if that’s makes sense. And that’s how the SHELF framework came about. It’s something I can pull off the shelf whenever I need to get balance in my life. So,  the S is for socialization. There’s a large body of research that says that socialization can improve your mental and physical health and may even help you live longer. So I make it a point to stay connected, keep in touch with former colleagues… And the second part of the acronym is Health,  I think this is pretty straightforward. We can live 25 or 30 years in retirement. It’s not like it was 100 years ago. So staying active is key. And that means regular exercise eating better, periodic checkups, good health, gives you more energy and it keeps you exploring the world, the future self. E is for Experience. We love to travel, and a couple of months ago,, we made a trip to the Canadian Rockies, which was stunning. But experiences don’t have to be big trips, it can be a concert, a movie, a dinner with friends or family, which also gets you points for socialization. And your goal is to keep adding those moments of awe and joy to your life. And those little moments are important. L is for learning. I’ve always believed in lifelong learning, it keeps your mind sharp and your curiosity alive. In addition to the classes, my wife and I take, we’re also enjoying reading, going to a lecture, and  I joined a book club. She’s joined one as well. So that’s important. And then the last is F and that’s Finance –  my career for the CFP Board,  I can’t forget finances. If they’re managed well could be something that really gives you mental well being. When you don’t have enough to retire, it’s a stressor. So, having a plan you trust, brings peace of mind. We work with a financial advisor and it helps us feel secure and allows us to focus, you know, more on living than wearing. So that’s my SHELF system. It’s not complicated. But it’s something I put together and it helps me check in on what really matters. staying connected, health, curiosity, and being grounded. Everyone’s vision I think will look a little different, but for me, it’s been a simple and practical way to stay balanced in retirement.”

On Selecting a CFP® Professional

“The CFP Board has a great website, where you can search for CFP® Professionals and filter based on various criteria. It’s a good place to start: cfp.net. But advisors are also required to supply disclosures that answer many questions. But it’s always good to hear it in the advisor’s own words. So, you know, once you meet with an advisor, I think there’s four key questions I’d recommend asking. The first one is, what’s your financial planning process? Will you create a written plan? How often will we review or update it? The second would be what areas do you cover and not cover? Sometimes that’s a surprise to clients. Do you include taxes? Really important in retirement planning, estate planning, or employee benefits, or do you focus mainly on the investments? So the third would be, how do you get paid? This is an uncomfortable question. Many people do not like to ask, but it’s an important one. Yes, the disclosures will have it. But for the average person, understanding these disclosures could be they’re written by lawyers and it’s very difficult to understand. So have the advisor explain how they get paid and make sure you understand, you know, when they charge, you know, whether they charge asset based fees, commissions, flat fees, or a combination. And then I guess the last question would be CFP professionals are required to act as a fiduciary. Sothe CFP professionals, should be able to articulate and clearly explain what that means in practice. So understanding that, what differentiates me and what it means to be a fiduciary. So if you get thoughtful, transparent, and I think detailed answers to these questions, you’ll have a good sense of whether that advisor is the right fit for you.”

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The views and opinions expressed by guests on The Retirement Wisdom Podcast are solely those of the guests and do not reflect the opinion of the host or Retirement Wisdom, LLC. The Retirement Wisdom Podcast primarily covers the non-financial aspects of retirement. From time to time we may invite guests who discuss other aspects of retirement planning, solely for educational purposes. Listeners are advised to consult qualified financial and/or medical professionals on those matters.