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634. You Need to Form a Strong Retirement Identity · Be It Till You See It

0:00
[SPEAKER_02]: What we all need to start to focus on right now is just like we had that career guidance counselor helping us and coaching us and to that next thing, we need to start hiking time to figure out that action plan for that next thing.
0:15
[SPEAKER_02]: And once you start to figure out, I need to form a retirement identity and understand my idea.
0:23
[SPEAKER_02]: So you start to self-motivating, become excited about it.
0:27
[SPEAKER_01]: Welcome to the Beat till you see it podcast where we talk about taking messy action, knowing that perfect is boring.
0:34
[SPEAKER_01]: I'm also Logan, Ply's instructor and fitness business coach.
0:38
[SPEAKER_01]: I've trained thousands of people around the world and the number one thing I see stopping people from achieving anything is self-doubt.
0:46
[SPEAKER_01]: My friends, action brings clarity, and it's the antidote to fear.
0:53
[SPEAKER_01]: Each week my guests will bring bold, executable, intrinsic, and targeted steps that you can use to put yourself first and be it till you see it.
1:02
[SPEAKER_01]: It's a practice, not a perfect, let's get started.
1:10
[SPEAKER_01]: Okay, be it, babe, this conversation is really cool.
1:14
[SPEAKER_01]: It's really, really cool.
1:15
[SPEAKER_01]: It might, you, I'm gonna introduce it in just a second way when I introduce the guests.
1:19
[SPEAKER_01]: And it might be something about this.
1:20
[SPEAKER_01]: You just, you do.
1:22
[SPEAKER_01]: Yes, you do.
1:23
[SPEAKER_01]: And I actually am really excited once I hit in on this because Brad and I have already talked about
1:29
[SPEAKER_01]: this topic with each other.
1:30
[SPEAKER_01]: But I was actually not dove into what retirement looks like, right?
1:38
[SPEAKER_01]: Like, what does it look like?
1:39
[SPEAKER_01]: Who are we?
1:39
[SPEAKER_01]: You know, and I think, especially if you're an elder little like me, you're like, I'm still trying to figure that out for my work stuff.
1:46
[SPEAKER_01]: But, but there's there's an even bigger reason for us to think about it now.
1:51
[SPEAKER_01]: And Greg Lungsvart is going to explain that to us.
1:54
[SPEAKER_01]: And it's going to give you some inspiration and enjoy an excitement, a possibility, and I can't think of a better beat till you see it thing that'd be working on.
2:02
[SPEAKER_01]: Then what Greg is going to offer us up today?
2:03
[SPEAKER_01]: So here he is.
2:04
[SPEAKER_01]: All right, beat, babe.
2:05
[SPEAKER_01]: I'm really excited because when I met this guest, I was like, hold on.
2:08
[SPEAKER_01]: This is very different.
2:09
[SPEAKER_01]: This is a whole different attitude to have about fight we're gonna talk money.
2:13
[SPEAKER_01]: And I know some of you wanna like put your head in the sand and ostrich out, but we're gonna talk retirement we're gonna talk about the really cool things.
2:20
[SPEAKER_01]: Also, just thought process to have, we have an amazing guest.
2:23
[SPEAKER_01]: The first person ever make me think of this in a different way.
2:26
[SPEAKER_01]: Greg Lunds, furred from Mezzaro is here to rock our world today.
2:30
[SPEAKER_01]: So Greg, tell everyone who you are and what you do.
2:33
[SPEAKER_02]: Hello Leslie, thank you so much for the opportunity to be on your show.
2:36
[SPEAKER_02]: My name is Greg Lundsford.
2:37
[SPEAKER_02]: I am a career professional financial services.
2:40
[SPEAKER_02]: I work for a firm called Mesero Financial and Chicago.
2:44
[SPEAKER_02]: We have locations across the country and some overseas.
2:47
[SPEAKER_02]: I am a wealth advisor.
2:48
[SPEAKER_02]: In addition to that, I am also an academic researcher and I feel the study is retirement transition.
2:55
[SPEAKER_02]: And so, what I would work with clients, so I'm just getting them not only to understand the financial part of retirement, but also the social and emotional components of making the transition and how it is unique to them because the 21st century retire retirement transition is much different and way more dynamic than most people think having watched others do it in the 20th century.
3:19
[SPEAKER_01]: This is so cool because you're not like our, you know, our grandfather or father's like like financial planner you are actually thinking like deep about the person.
3:30
[SPEAKER_01]: And that I find I don't think I've known anyone who does that like usually it's like here are the numbers here's your sheet let's put this in how much money do you want to have and like that's it, but you you've bought more personality to it and also more emotions to it, how did you get started in that.
3:45
[SPEAKER_02]: So I'll give you a little bit of a back story.
3:47
[SPEAKER_02]: So as I mentioned, I've been in financial services for 33 years.
3:51
[SPEAKER_02]: And when they real estate boss occurred in 2008, it's working for another organization.
3:58
[SPEAKER_02]: And we were having people come in and very successful people.
4:03
[SPEAKER_02]: And they were set for life.
4:05
[SPEAKER_02]: They were being offered an exit package from their employer.
4:09
[SPEAKER_02]: They were leaving a lot of C-suite roles or maybe a role below the C-suite.
4:13
[SPEAKER_02]: And we were having meetings with them to prepare for retirement and we would go through all the financial numbers and something still wasn't right.
4:21
[SPEAKER_02]: And what I was noticing was they were hesitant to make the retirement decision, even though the company was saying, look, we
4:29
[SPEAKER_02]: and giving you this excellent opportunity exit early is a great cost savings for us and a great great financial opportunity for you, especially because we were in this period of time with like unemployment was going above 11%.
4:40
[SPEAKER_02]: Yeah, and so here's the opportunity to take this nest egg and be good, which was counter to what we were taught in our industry when I came in the industry that
4:49
[SPEAKER_02]: You know, exiting out was the economic choice that once you hit a certain number, then you would go look for activities of leisure because as work can be depressing and daunting and stressful and all those kinds of things.
5:03
[SPEAKER_02]: And even when I was watching, you know, commercial ads from...
5:08
[SPEAKER_02]: people in the industry and competitors, you know, you see something it goes and I won't call the company, but they had a very successful campaign to say, what's your retirement number?
5:16
[SPEAKER_02]: Yes.
5:17
[SPEAKER_02]: And this number would follow you down the street.
5:19
[SPEAKER_02]: Is this, you know, you want this?
5:21
[SPEAKER_02]: Yes.
5:21
[SPEAKER_02]: You remember that?
5:22
[SPEAKER_02]: And you look at your balances like, is today's the day you just tell your boss, I can't stand you and it's over with, right?
5:29
[SPEAKER_02]: And so this was a very counter to what I was experiencing.
5:32
[SPEAKER_02]: And so I started to talk to some of
5:37
[SPEAKER_02]: There's something going on here and they said, well, it's probably because they're talking us and they're also shopping with other people to see who they would, which company they want to work with.
5:48
[SPEAKER_02]: So go offer them a great discount because it's probably all things equal and it's just they're being sensitive about number.
5:54
[SPEAKER_02]: Once again, making this an economic choice.
5:57
[SPEAKER_02]: Yeah.
5:58
[SPEAKER_02]: So we would do that when I recognize this sale cycle got even longer.
6:02
[SPEAKER_02]: And so I'll go back to them.
6:03
[SPEAKER_02]: But I've said, have you been looking at the trends for our sales cycle?
6:07
[SPEAKER_02]: And you would think these would be quick, easy, easy sales, because people told to be running out of the door and they took longer.
6:13
[SPEAKER_02]: And so I said, there's something we don't understand about someone who is at this stage.
6:19
[SPEAKER_02]: And the feedback I got was, if there's something social emotional, there's nothing we can do about it.
6:26
[SPEAKER_02]: you know, if someone's afraid about running out of money, you can create an annuity product to take care of them for life.
6:32
[SPEAKER_02]: Somebody's worried about interest rates going up.
6:35
[SPEAKER_02]: You can create a product that deals with interest rate sensitivity.
6:39
[SPEAKER_02]: But nothing can deal with how a person feels.
6:42
[SPEAKER_02]: And I didn't accept that as an answer.
6:45
[SPEAKER_02]: I thought that thought was wrong.
6:46
[SPEAKER_02]: Because the way I view it is clients hire us and they trust us and We can do a better job than we'll be understand the client beyond just their finances, right?
6:58
[SPEAKER_02]: And I felt like there was a big problem here.
7:01
[SPEAKER_02]: So I basically said, you know, I'm gonna go back to school and study this
7:05
[SPEAKER_02]: and I negotiated for time to be in class, and I got it.
7:10
[SPEAKER_02]: And so I went to Case Western Reserve University.
7:13
[SPEAKER_02]: I got into a PhD program there.
7:16
[SPEAKER_02]: And I did four years of PhD study and lots of studies trying to figure out what are the social and emotional factors as well as the financial factors?
7:25
[SPEAKER_02]: that a person considers when making the retirement decision and there were just tons of things that I learned in that process that I used to help my clients were happy to talk to you about the journey.
7:35
[SPEAKER_01]: Yeah, I'm excited to get it with that because it's really funny as you talk about this.
7:37
[SPEAKER_01]: I think about like my my family, right?
7:41
[SPEAKER_01]: My mom is two years from retirement and she's got two homes, you know, in California, that it honestly, I was trying to get her to sell
7:49
[SPEAKER_01]: You hear us back?
7:50
[SPEAKER_01]: Cause it was been a great idea.
7:51
[SPEAKER_01]: And like, get a condo, be set for life.
7:54
[SPEAKER_01]: And we're like, show it or the numbers.
7:56
[SPEAKER_01]: We're like, look at this.
7:57
[SPEAKER_01]: This is a, you can set yourself up to just be chill.
8:01
[SPEAKER_01]: And she is like, not listening.
8:03
[SPEAKER_01]: And I think it's because of the emotional attachment to these properties versus like the numbers.
8:10
[SPEAKER_01]: And so I can, I get that, right?
8:13
[SPEAKER_01]: Like I get my, my in-laws could have retired years ago.
8:17
[SPEAKER_01]: I don't think that they know what to do if they don't have work, things.
8:23
[SPEAKER_01]: And I don't even know that they love their work.
8:24
[SPEAKER_01]: I think they like what the work represents that they do for during their day.
8:29
[SPEAKER_01]: So I do want to dive into this because in being it till you see it, like I'm hoping that every listener here gets to live to the age that they desire.
8:38
[SPEAKER_01]: Like, and we all are, as you mentioned, like the time that we're in, people are living a much longer time.
8:43
[SPEAKER_01]: Like we're tired at 65 and dying at 90.
8:47
[SPEAKER_01]: to not have a J.O.B.
8:50
[SPEAKER_01]: Right?
8:51
[SPEAKER_01]: So it would be really cool to chat with you because like being a tell we see it means including what we want to be, how do we want to be when we're older and not doing the thing we're doing?
9:00
[SPEAKER_01]: How do we want to be in retirement?
9:02
[SPEAKER_01]: So let's dive into that a little bit.
9:04
[SPEAKER_02]: Sure.
9:05
[SPEAKER_02]: So a couple of things I want to cover off on, it's like, one, how do we get here?
9:08
[SPEAKER_02]: And I think you've already touched on that.
9:10
[SPEAKER_02]: The fact is we're living longer.
9:12
[SPEAKER_02]: And so if you are looking at a retirement maybe 50 years ago when people really start to expire in their late 60s and their 70s,
9:22
[SPEAKER_02]: what occurred was you got to 65 and the system told you 65 is the number.
9:28
[SPEAKER_02]: Why does this arbitrary with number with pick one day when they were trying to figure out social security?
9:32
[SPEAKER_02]: They say it was 65 is the number, right?
9:35
[SPEAKER_02]: And so you come out at that period of time and you only have just a few healthy years in front of you or at least you anticipate you only have a few healthy years.
9:45
[SPEAKER_02]: So what came out was this concept of a bucket list.
9:47
[SPEAKER_02]: So I am going to use these healthy years to travel, play all the golf I can and have all these leisure that I can before.
9:58
[SPEAKER_02]: I am too physically unable to do this or mentally unable to do this.
10:04
[SPEAKER_02]: And so, a couple things were wrong there, as it relates to our retirement 21st century.
10:08
[SPEAKER_02]: One, we're living longer.
10:10
[SPEAKER_02]: So you're going to be physically and mentally able to do something for a long period of time.
10:14
[SPEAKER_02]: So if you don't sort of set goals for yourself, and see what you can be in the future,
10:19
[SPEAKER_02]: You're going to get bored really, really quickly, and you're going to start to decline very quickly simply because you're absent of certain things purpose and drive and and goals and accomplishment, you know, is more than just a couple rounds of golf that are going to make you happy.
10:37
[SPEAKER_02]: And so what I think people don't understand is we are now living in a period of time where it used to be you went from your youth.
10:48
[SPEAKER_02]: to middle-age and to old age.
10:51
[SPEAKER_02]: And so this transition from middle-age to old age was about that 60 mark, right?
10:58
[SPEAKER_02]: And so people just basically said, I have no more control.
11:02
[SPEAKER_02]: The system is going to do what it does to me.
11:05
[SPEAKER_02]: I'm going to be booted out of my job.
11:07
[SPEAKER_02]: I'm going to be sent off to do leisure.
11:09
[SPEAKER_02]: I guess that means I play with my grandchildren or volunteer, and I'll just follow suit.
11:14
[SPEAKER_02]: And what happened is a lot of people found them
11:18
[SPEAKER_02]: Now, we're in a new era because we live longer and what is present now is what is called an academic terms the third age.
11:28
[SPEAKER_02]: So you now go from early age to middle age to this third age, which is this undefined period and today's retirees are the first people to go on this and then you go on the old age.
11:39
[SPEAKER_02]: And the third age is this 20-year life bonus, where you get to divide who and what you want to be, and think about it.
11:48
[SPEAKER_02]: You're wise of it and you've ever been.
11:49
[SPEAKER_02]: For most people, you have more financial resource.
11:52
[SPEAKER_02]: Isn't it ever had?
11:54
[SPEAKER_02]: You don't have a commitment to other people, meaning you've raised your children.
11:58
[SPEAKER_02]: So you don't have to worry about them.
11:59
[SPEAKER_02]: Hopefully you're in a position where you don't have to care for aging loved ones.
12:03
[SPEAKER_02]: So this is a period of time where you can do anything
12:09
[SPEAKER_02]: And people go, well, what, didn't they have the opportunity to do whatever I wanted to do?
12:13
[SPEAKER_02]: Not quite, because remember, when we were growing up, and those before us were growing up, we were kind of encouraged to do things that were socially acceptable.
12:24
[SPEAKER_02]: Yeah, right.
12:25
[SPEAKER_02]: I agree.
12:26
[SPEAKER_02]: It wasn't until recent decades where someone says, I'm going to start a computer company out of my garage, I'm going to drop out of college and do something that's undefined and pioneer.
12:37
[SPEAKER_02]: So,
12:38
[SPEAKER_02]: The current generation's entering into retirement have never developed this proactive protein behavior the way maybe millennia was in generations Z has.
12:51
[SPEAKER_01]: I completely agree because I feel very lucky that even though I was raised very much by almost a boomer.
13:01
[SPEAKER_01]: And and a hippie like I do have a career where I'm doing whatever I want.
13:05
[SPEAKER_01]: I'm an elder millennial.
13:06
[SPEAKER_01]: So I have that.
13:07
[SPEAKER_01]: But I have friends who are just a few years older than me.
13:09
[SPEAKER_01]: And I don't think that they have a they don't have hobbies.
13:13
[SPEAKER_01]: If they have a hobby.
13:14
[SPEAKER_01]: It's going to the gym.
13:15
[SPEAKER_01]: You know what I mean?
13:16
[SPEAKER_01]: Like it's like they don't really have.
13:18
[SPEAKER_01]: thing.
13:19
[SPEAKER_01]: So outside of their work, it's like, what do you do for fun?
13:22
[SPEAKER_01]: Are you kidding?
13:23
[SPEAKER_01]: Like, there's no, and so I feel like what you're getting as like no one has actually spent time thinking, like, but what do I actually want?
13:30
[SPEAKER_01]: How can I dream about that?
13:32
[SPEAKER_01]: Right?
13:32
[SPEAKER_01]: How can I make that so exciting that that I want to take retirement package or that I'm excited to.
13:38
[SPEAKER_01]: I have this, I'm not just like, oh, let me go play golf three times a week.
13:42
[SPEAKER_01]: Like, what else?
13:43
[SPEAKER_01]: I have no purpose.
13:44
[SPEAKER_01]: I think it's really
13:46
[SPEAKER_01]: that there is a good chunk of like I would say probably over 45 who don't really, they're exploring it, but don't know.
13:54
[SPEAKER_01]: And how do you figure that out?
13:56
[SPEAKER_02]: So let me ask you a question, Leslie.
13:58
[SPEAKER_02]: What is your earliest memory or how bad, how old do you think you were when someone first asked you what you wanted to be when you grew up?
14:07
[SPEAKER_01]: I remember being in elementary school and I'm sure it has to be earlier because the people have told me that I said something different earlier.
14:15
[SPEAKER_01]: But I remember in fourth grade, I had to write a poem about who I was and what, like, what did it feel like and what did it sound like and what did it look like?
14:24
[SPEAKER_01]: And I said a judge, you guys, that should shock everyone.
14:31
[SPEAKER_02]: My point is, so it's just age 10.
14:36
[SPEAKER_02]: Someone has been helping you develop your work identity.
14:41
[SPEAKER_02]: People are asking you at home or in your neighborhood or a church or wherever you socialize what you're going to be, then you're going to go to a middle school and you're going at the high school and they're going to sign a counselor going to start telling you to think about college or trade school or whatever it is.
14:57
[SPEAKER_02]: then you're going to get in the career and then whatever career you get in maybe you're assigned to mentor is helping you understand or think about how to advance in that career.
15:06
[SPEAKER_02]: And then you get to this point where maybe you're like late 40s or 50s and does anybody help you figure out what your identity will be after work.
15:19
[SPEAKER_01]: No, as you're saying that's your own.
15:22
[SPEAKER_02]: You're on your own and the only thing it was different here is
15:26
[SPEAKER_02]: when they put you into that position where you were felt forced into retirement right and then there was also a safety net there in the form of a pension that doesn't exist away once did and there were other governments safety nets that may not exist the way they want to get before when they put you there you just said okay I'll accept it because I'm only going to be around five years anyway so let me work on this bucket list but you never really thought about and I think people don't really dig into thinking about
15:55
[SPEAKER_02]: what the value of work is beyond the financial resources it provides, they get to the tail end of their career and some people may not even think about it any either.
16:04
[SPEAKER_02]: So, career because you've spent all this time having these conversations, you start developing this identity because you become what your work is, right?
16:16
[SPEAKER_02]: And so, so a lot of people look at the economic resources it provides, but
16:20
[SPEAKER_02]: work also provides for us ways to get psychological success.
16:25
[SPEAKER_02]: Who doesn't like completing a task and getting recognition?
16:30
[SPEAKER_02]: And if you're in a good working environment, right?
16:32
[SPEAKER_02]: Everyone says, let's applaud Leslie because she did this for the team.
16:37
[SPEAKER_02]: which created this opportunity for the company which created this value that she should be recognized for, right?
16:45
[SPEAKER_02]: Yeah.
16:45
[SPEAKER_02]: So that's very important.
16:46
[SPEAKER_02]: That gives you a reason to get out of bed, that gives you a reason to thrive.
16:50
[SPEAKER_02]: And that has to value when you walk out of the work environment, how do you replace that when you go into this third age?
16:57
[SPEAKER_02]: The second thing is work provides socialization.
17:00
[SPEAKER_02]: No matter what you think about your work colleagues,
17:03
[SPEAKER_02]: If you like them, that's great.
17:05
[SPEAKER_02]: That gives you somebody that you want to see every day, that you become personal friends with, that you grow with, that you learn to care about.
17:12
[SPEAKER_02]: If you hate them, that gives you something, the laugh about it at the end of the day, you know what that idiot Bob did today again, right?
17:19
[SPEAKER_02]: I mean, that gives you more than you think, right?
17:22
[SPEAKER_02]: And so, work provides socialization.
17:25
[SPEAKER_02]: And then the third thing that work provides that we often overlook is structure in your day.
17:31
[SPEAKER_02]: What to do with your time, right?
17:33
[SPEAKER_02]: And so for a lot of people, when they don't have somewhere to go Something to do that makes them feel accomplished and People to be around that they enjoy or either get some form of
17:47
[SPEAKER_02]: Comical satisfaction from their loss when you put them out there on their own and so what I learned and through my research is this transition for a lot of people is the first career transition that they've made independently and it is scary Yeah, I mean when you put all that together and I'm just like going, wow, you know people aren't
18:13
[SPEAKER_01]: It, what are the questions we've got on the pot?
18:15
[SPEAKER_01]: It's like, how do you make friends with the note when you move to a new place?
18:17
[SPEAKER_01]: It's like, I mean, for us, we work for ourselves.
18:21
[SPEAKER_01]: So like, we didn't have a place to go to make, you know, so I, it has when I have a different experience in like how to find socialization and structure to our day and, you know, like we've had to make it happen.
18:33
[SPEAKER_01]: But for so many, you know, my dad, he quit his, he quit his security job.
18:37
[SPEAKER_01]: Yes, guys, my 72-year-old father was a security guard, but he quit it because he got frustrated.
18:42
[SPEAKER_01]: Anyways, he is back working as a crosswalk guard, because he's like, I'm bored.
18:48
[SPEAKER_01]: I have nothing to do.
18:49
[SPEAKER_01]: And I'm like, but Dad, we could get a hobby, we could play these games, like all this stuff.
18:54
[SPEAKER_01]: And it's because he never, ever, ever, and his whole life,
19:00
[SPEAKER_01]: developing the skills outside of our work developing a retirement identity.
19:05
[SPEAKER_02]: Yes, yes, developing a retirement identity and what also makes it hard is, you know, when you are developing a retirement identity, like I said, this is your first shot at personal freedom in life.
19:18
[SPEAKER_02]: Okay, when you're growing up, you had to do what your parents told you to do, then you became an adult and then you had all these set of responsibilities.
19:26
[SPEAKER_02]: And so you were doing what people told you you ought to do.
19:30
[SPEAKER_02]: You were really working on your odd self.
19:32
[SPEAKER_02]: So if you're going to have a family, you ought to find a job to produce enough income.
19:36
[SPEAKER_02]: But you know, so you didn't really think about ideally what you wanted to do.
19:40
[SPEAKER_02]: And it was really amazing to me as I have interviewed some highly successful
19:45
[SPEAKER_02]: people that it do amazing things and what I start talking to them about forming the idea itself, the stuff they come up with is so counter to what it, what and who they are.
19:56
[SPEAKER_02]: It is amazing to me.
19:57
[SPEAKER_02]: So I get has the surgery or successful attorneys or engineers to say, I want to learn how to write mystery novels.
20:05
[SPEAKER_02]: or I want to start a rock band.
20:07
[SPEAKER_02]: And so what it points to me and what comes out to me is these are probably things that they wanted to do and their teens in their early 20s, all along, but they couldn't do that because society told them, these are not the things a person ought to do.
20:24
[SPEAKER_02]: You know, if they want stability in terms of income, if they want respect in their community, if they want, you know, the structure that surrounds it allows them to have a family and not have to worry about some things.
20:38
[SPEAKER_02]: And so now you get to this third age, and I saw all off the table, your wife's in and you've ever been, you have more financial resources than you've ever had, you know, you have more personal freedom.
20:49
[SPEAKER_02]: Now you get to really for the first time
20:52
[SPEAKER_02]: who you're ideal self not your art self who you want to be and if you get it right you're the only person you have to hold accountable if you get it wrong you're the only person you have to hold accountable and so some people go well Greg what does it have to do with money yeah I think people who don't take time to find this identity or through a lot of money trying to find themselves oh
21:17
[SPEAKER_02]: Right.
21:17
[SPEAKER_02]: And yes, when I first started this journey, I was trying to find a core work of individuals that had finished their career, she saved financial success and had 30 years ahead of them.
21:33
[SPEAKER_02]: and what were their behaviors and where you consistently see this is what professional athletes.
21:38
[SPEAKER_02]: Yes.
21:39
[SPEAKER_02]: Right.
21:39
[SPEAKER_02]: Yes.
21:40
[SPEAKER_02]: You're out of the game early.
21:41
[SPEAKER_02]: Yes.
21:41
[SPEAKER_02]: Right.
21:42
[SPEAKER_02]: You're in your 30s.
21:43
[SPEAKER_02]: And your Tom Brady, you're 40, but that's the long game.
21:46
[SPEAKER_02]: But you're really out in your early 30s.
21:50
[SPEAKER_02]: you don't have financial concerns, right?
21:52
[SPEAKER_02]: And what is the behavior?
21:53
[SPEAKER_02]: It's sometimes we demonize athletes or dysfunctional behavior after hey, but all they're showing us is who we are going to be if we don't develop a retirement identity.
22:04
[SPEAKER_01]: Yes, Greg, you are 100% at correct there.
22:07
[SPEAKER_01]: I think most people think, most people will say they don't know how to manage their money.
22:12
[SPEAKER_01]: And to your research and what we've been talking about here, it's a lot about managing money.
22:16
[SPEAKER_01]: It's about they don't know who they are without their sport because they spent for those people.
22:21
[SPEAKER_01]: They spent literally since they were a child being that sport and getting so many accolades and then all of a sudden no one cares, no one pays attention to them.
22:32
[SPEAKER_01]: For the most part, they're not going to be on TV like that's it.
22:35
[SPEAKER_01]: And so I think it, I think your spot on,
22:40
[SPEAKER_01]: responsibility, although they might need to learn some, it's about who, who are they now that they're not playing right.
22:47
[SPEAKER_02]: And so then you go, well, this athlete, just what broke because they put all this money in his business, well, they're trying to get the same accolades in business that they got in sports, right?
22:58
[SPEAKER_02]: They're trying to replace that identity that made to feel good, made to fill a cop.
23:04
[SPEAKER_02]: It's not people who are very successful at it.
23:05
[SPEAKER_02]: Those aren't, but my point is there has to be a roadmap to get that.
23:09
[SPEAKER_02]: And it doesn't always have to be in business.
23:11
[SPEAKER_02]: It could be in your civic activities.
23:12
[SPEAKER_02]: It could be you learning to act or you become responsible.
23:15
[SPEAKER_02]: But you have to, first of all, imagine who your ideal self is.
23:20
[SPEAKER_02]: And just like you were coached and you read and you trained to build that hot self.
23:27
[SPEAKER_02]: Hopefully for some people, a lot of people that also is their ideal self.
23:31
[SPEAKER_02]: And they're usually entrepreneurs like you where you say, you know what?
23:34
[SPEAKER_02]: I'm not going to go to normal path.
23:36
[SPEAKER_02]: I'm a carver path for myself and I can worship gives me that freedom.
23:39
[SPEAKER_02]: Before a lot of people, they have to figure out, now that I've satisfied all these obligations to other people and other things, who do I ideally want to be and then work at?
23:50
[SPEAKER_02]: How do I get there?
23:51
[SPEAKER_02]: Because if you go in there blindly, you're just the same as that person that was in sports or any other industry.
23:58
[SPEAKER_02]: You're just trying to find this quick hit to replace all of these acolys or psychological successes you got and you can blow up a lot of money doing that.
24:08
[SPEAKER_02]: So the well-being comes from getting all of these components right, not just as we were taught in the 20th century just making sure you don't run out of money.
24:20
[SPEAKER_01]: Greg, this is insane.
24:22
[SPEAKER_01]: So, okay, so I love all of this and it's, it's like so aligned because I'm always like, you're not gonna get right the first time.
24:30
[SPEAKER_01]: Like we have to ditch perfection, which of course in workplace, it's very home.
24:34
[SPEAKER_01]: Like, tack the box, do it right, do it right to talk to the boss about how you did it wrong, like get it right.
24:40
[SPEAKER_01]: Like so, of course, when you, when you retire, if you haven't been working on these things,
24:45
[SPEAKER_01]: You're going to be hard on you're going to take your hot self into your retirement.
24:49
[SPEAKER_01]: So I guess like first I don't think that most financial retirement planners do any of these questions.
24:55
[SPEAKER_01]: So when people come to you talk retirement are you like pulling are you like asking them what their ideal what they want their ideal self to be?
25:03
[SPEAKER_01]: Do they even know how to find it?
25:06
[SPEAKER_01]: What what questions do they have to ask themselves?
25:08
[SPEAKER_02]: Well, we do have, we have a lot of conversation about, you know, not only to can you financially afford it, we can put some numbers of software come up with that answer pretty quickly, right?
25:18
[SPEAKER_02]: But we also have a conversation about what do you think your lifestyle will be and why do you think this is right for you and what do you want to accomplish and you know, some folks will come in and say, hey, I think I want to start a small business, right?
25:31
[SPEAKER_02]: And so we might talk about them and they don't want.
25:35
[SPEAKER_02]: They don't want work again in the way they want it, but they want something to do that is work on their own terms.
25:42
[SPEAKER_02]: So a lot of this is you changing the terms of what you're doing, and because when we go, especially if we go to work for a corporation or something,
25:51
[SPEAKER_02]: That's usually a unilateral contract right the person the institution is telling you I'll give you x amount of dollars if you do this and you say But what if I did a little dip no you don't get a place in that this is what you had to do right and what we're recognizing is we do have some power in That we do some have some power I've seen a lot of people be successful and going back to their places of work and negotiating consulting contracts and a basically said, you know
26:16
[SPEAKER_02]: I don't want to do 95, but if you have a special project that you bring on, let's say you bring on new software, whatever, and this is going to be a nine-month project, or it's going to be something you need a few hours a week, but I get the summer's off, I'm your person for doing that.
26:31
[SPEAKER_02]: And that's how they're able to get from their art self and to their ideal self, because the time that they're not there, they now start to figure out what their personal freedom, what they really like to do.
26:41
[SPEAKER_02]: So I think of one person now.
26:43
[SPEAKER_02]: He was very successful to this, but he also was confident in enough, talking to his employer because he was the head of HR.
26:53
[SPEAKER_02]: So he knew he was a little bit more comfortable, but basically what he did was he got to this point and he was ready to make this transition out, but he didn't know what he wanted to do.
27:02
[SPEAKER_02]: So he went to, and he said, look, I'm head HR.
27:05
[SPEAKER_02]: I got 70 people reporting to me.
27:06
[SPEAKER_02]: I'm willing to give all of my direct reports.
27:08
[SPEAKER_02]: to my successor, if you help me, let me help you identify my successor and help me groom your successor.
27:15
[SPEAKER_02]: So his role became more of coach manager mentor in this last couple of years, and that was three days away.
27:24
[SPEAKER_02]: You said, the other day of week, these are...
27:27
[SPEAKER_02]: institutions, non-profit institutions that we as an organization support, I want one day to volunteer with one of them.
27:34
[SPEAKER_02]: And so now they get a free executive for one day at week.
27:37
[SPEAKER_02]: That was a great for the company, worked out well.
27:40
[SPEAKER_02]: We said then the fifth day of the week, I just want to day off.
27:44
[SPEAKER_02]: I want to see if I really enjoy leisure.
27:47
[SPEAKER_02]: Everyone tells me I'm supposed to play all these rounds of golf and laid back and relax.
27:51
[SPEAKER_02]: Let me make sure that that's the right thing for me.
27:54
[SPEAKER_02]: So he has three days a week that he is engaging in what he traditionally knows in terms of what his identity is.
28:02
[SPEAKER_02]: He has one day a week to see if he wants to change his identity and his community through his volunteerism and he has one day a week to figure out if I just want to exit all
28:17
[SPEAKER_02]: you can continue doing all of the three of those, what we have now is if you shape them correctly as we have what are called boundary-less careers.
28:26
[SPEAKER_02]: And so this is where I think, you know, we give millennials a bad rap.
28:32
[SPEAKER_02]: We give millennials a little bad rap because we always say what they like to do a gig economy.
28:37
[SPEAKER_02]: They don't stand anywhere 30 years.
28:39
[SPEAKER_02]: But what they're really engaging in is today's boundary-less career, where they define success for themselves versus going down the traditional path, which says you can only be successful by going up the pyramid.
28:56
[SPEAKER_02]: For them is, you know what?
28:59
[SPEAKER_02]: I can be equally financially successful.
29:02
[SPEAKER_02]: I can get here, gig there and add it all together, or I can get this personal freedom and know how to negotiate.
29:08
[SPEAKER_02]: So there's been a more time as much time developing my ideal self as I'm developing my odd self.
29:16
[SPEAKER_01]: Oh my gosh, great.
29:17
[SPEAKER_01]: You just, like, I think you're the first person to ever give the millenials a compliment.
29:21
[SPEAKER_01]: Thank you.
29:22
[SPEAKER_01]: God's late five myself defending my, I'm like, let me talk about like, we're not bad.
29:26
[SPEAKER_01]: We're, we're a group that's had a really fight, like figure things out because, right, when we came into the world where we got a job, like everything was so uncertain, you know, between 9-11 and between, that's when I went to college and then I got out of college and it was like the recession, like,
29:41
[SPEAKER_01]: There's not, there's not been an opportunity to have a certainty of a 30-year career, but I think what you're saying, but I love about your saying is like, we've actually been spending our careers figuring out who we are and like spending time doing that.
29:55
[SPEAKER_01]: And I am obsessed with what the example of the guy who gave, because
30:00
[SPEAKER_01]: I think so many people can start playing with that right now.
30:03
[SPEAKER_01]: So many companies are looking to go to a four day work week.
30:06
[SPEAKER_01]: You know, like so many places are looking to have like, okay, you're in office for some days and you're at home for other days.
30:12
[SPEAKER_01]: Like we can look at those opportunities as ways to figure out our retirement identity.
30:17
[SPEAKER_02]: Right.
30:18
[SPEAKER_02]: And a lot of them get stuck in this, oh, well, I work for this large corporation there, flexible.
30:22
[SPEAKER_02]: There are a lot of small, medium sized companies that are in growth mode, that that model works very well.
30:29
[SPEAKER_02]: That's what they can afford.
30:30
[SPEAKER_02]: And they need to institutional knowledge and wisdom.
30:33
[SPEAKER_02]: You got to be able to, and this is where we go back to talking about biometry list careers.
30:37
[SPEAKER_02]: You got to think about,
30:39
[SPEAKER_02]: all of the universe and parts of it, you don't even know exist.
30:43
[SPEAKER_02]: This is where your personal curiosity has to kick in to get what you want.
30:48
[SPEAKER_01]: Yeah.
30:49
[SPEAKER_01]: Yeah.
30:50
[SPEAKER_01]: Okay, Greg.
30:51
[SPEAKER_01]: So I feel like you are a unicorn though.
30:54
[SPEAKER_01]: Like I really do feel like, I mean, obviously, what a cool company that they're like, yeah, go take four years to figure out this idea you have and then like,
31:07
[SPEAKER_01]: Okay, that's cool.
31:11
[SPEAKER_02]: I took a lot of flack as I was doing this and because people were going And we don't understand why you're doing this right and you don't we don't stand your need to do it There were a few key executives just said, you know, there were really support of me, but overall It was you know, I was sort of like
31:28
[SPEAKER_02]: I was trailblazing and people were going, you have a very good set of responsibilities here that you could be highly successful.
31:35
[SPEAKER_02]: Why do you want to tinker with the mouse trap?
31:38
[SPEAKER_02]: And I said, I think this would make me a better advisor to my clients if I came to understand this.
31:42
[SPEAKER_02]: Now, back then, you know, there was no one talking about psychology.
31:47
[SPEAKER_02]: I'm a certified financial planner.
31:48
[SPEAKER_02]: Now, the CFP exam as if I think like two, three years ago, 11% of the exam is psychology now.
31:55
[SPEAKER_02]: But I was, I was in a very uncomfortable space, but I believe that was right.
31:59
[SPEAKER_02]: So we used to talk about, you know, be it to you.
32:02
[SPEAKER_02]: Yeah.
32:03
[SPEAKER_02]: See, right.
32:03
[SPEAKER_02]: I was in a very uncomfortable space, and this is my book exit from worker right about it in my book.
32:10
[SPEAKER_02]: But I am glad I had to journey because I feel as though I'm a better professional.
32:14
[SPEAKER_02]: And my clients appreciate it.
32:16
[SPEAKER_01]: Yeah, I mean, like, you know, years ago, I read the book of psychology of money, right?
32:21
[SPEAKER_01]: I think that's what it's called.
32:22
[SPEAKER_01]: Or maybe it's called the profit, but I think that's money.
32:24
[SPEAKER_01]: And like I said, like the type of person you have to be to get money is very different than the type of person who'd be to keep the money.
32:30
[SPEAKER_01]: And I was like, like, that's by the way, that's like the thing I remember from the whole book.
32:33
[SPEAKER_01]: It's a bit, but anyway, I remember that sticking going hold on a second, like, we as people have to evolve, like one on the getting, two on the keeping, and that goes kind of along with what you're saying,
32:45
[SPEAKER_01]: You know, you have to understand the emotions like college, you behind all of this because yes spreadsheets are great, but with AI, like we don't need a bunch of people to do a spreadsheet anymore, so there's that we need someone to help guide us.
32:58
[SPEAKER_01]: to like, well, who is it?
33:00
[SPEAKER_01]: Like, where is this money going?
33:01
[SPEAKER_01]: What do you want to do with it?
33:02
[SPEAKER_01]: What, what, what, like, was also what if instead of like, okay, here come their retirement age, what if it's like, oh my gosh, like I can't even wait, or actually I'm going part time now.
33:11
[SPEAKER_01]: And my retirement is part time, and I'm doing all these other things.
33:13
[SPEAKER_01]: Like, that's so cool that you, I mean, you do that.
33:17
[SPEAKER_01]: It's not easy to be a trailblazer.
33:18
[SPEAKER_01]: It's not easy to be the only person talking about it though.
33:21
[SPEAKER_02]: It's rewarding in the end and so and I think a lot of people find deliberating because if you've got 20 years, do you just really want to do what people tell you you ought to do?
33:30
[SPEAKER_02]: I mean, especially when you spent the first 60 doing that.
33:34
[SPEAKER_02]: Yeah.
33:34
[SPEAKER_02]: And so really what this 30, it just supposed to be supposed to be the most dynamic part of your life, right?
33:43
[SPEAKER_02]: It is a way to course correct or either
33:50
[SPEAKER_02]: versus a lot of people going to retirement, because that's what retirement was when it first started off.
33:55
[SPEAKER_02]: It was really this negotiation between management and labor.
33:59
[SPEAKER_02]: We're especially we were in an industrial society, so labor was more physical.
34:05
[SPEAKER_02]: Right now we're in a service economy, so it was really more cerebral, but back then, you know, they wanted management, wanted employees
34:16
[SPEAKER_02]: And that was usually somebody under age 40, and this is where we start getting age protection laws, right?
34:22
[SPEAKER_02]: And anyone over 40, they wanted out of the workforce.
34:25
[SPEAKER_02]: So, you know, retirement didn't start off as this.
34:28
[SPEAKER_02]: Oh, this is a great thing and they're going to write me checks with the rest of my life.
34:31
[SPEAKER_02]: It didn't start off as that it really started off as you were really making someone feel devalued.
34:39
[SPEAKER_02]: because you didn't have any.
34:41
[SPEAKER_02]: And so we've gone along with this model, it wasn't until maybe like the 1970s or 1980s when we went into this global recession where people started getting offered these early retirement packages to come out of companies because globally, a lot of people, a lot of companies had financial issues to deal with.
34:59
[SPEAKER_02]: And what they weren't expecting when they let this 55 year old go is that life expectancy was starting to go up.
35:06
[SPEAKER_00]: Yeah.
35:06
[SPEAKER_02]: And so now this 55 year old is now live up to 80.
35:11
[SPEAKER_02]: And they got the best in the deal.
35:12
[SPEAKER_02]: And what is happening financially right now is people are looking at their
35:19
[SPEAKER_02]: parents and grandparents who got that deal.
35:22
[SPEAKER_02]: And they're going, I can never afford to do what they did and not realizing that that was an anomaly.
35:29
[SPEAKER_02]: And so a lot of people socially, emotionally feel like they're failing.
35:33
[SPEAKER_02]: And they don't want to talk about retirement because they feel as though I'll never be able to do with the person did before me.
35:39
[SPEAKER_02]: And therefore, there must be something wrong with what I'm doing or what me.
35:43
[SPEAKER_02]: And the reality is the game is changing and so you actually have more personal freedom than they have and just like they walked into a unique situation you have to craft a unique situation for you that works.
35:59
[SPEAKER_01]: Yes, that great, this is your historian, you're like a life coach and like the person we all need to be thinking about when it comes to like, because no matter how, I mean, obviously we're told like the earlier you can start thinking about retirement the better, but people don't want to do that.
36:17
[SPEAKER_01]: Like I said the beginning this, they want to put their head in the sand, like I can't be my grandparents.
36:21
[SPEAKER_01]: So I'm just going to keep doing what I ought to do.
36:24
[SPEAKER_01]: And just, and like we'll deal with that later, we'll figure out the number later, but I think if we can like start thinking about it now, it really does allow us to curate the experience we have with work, but then also set ourselves up for that third age where we can have a really good time getting to know ourselves even deeper and not losing money along the way.
36:45
[SPEAKER_02]: That's correct, because in that third age, you may convert a hobby, so I have a friend.
36:51
[SPEAKER_02]: who was in banking with me.
36:55
[SPEAKER_02]: He would always go take a week or two off every year and just go to Europe and backpack.
37:01
[SPEAKER_02]: He would stay at, you know, two, three star hotels.
37:04
[SPEAKER_02]: He was like, I'm not there every day and he would just go take the most amazing picture to see if you're bring them back to the office.
37:09
[SPEAKER_02]: And we would go gym, you know, you should have an arch show.
37:12
[SPEAKER_02]: And he was like, no, they've just highbies of it and he had a arch show.
37:15
[SPEAKER_02]: And people started buying his art.
37:17
[SPEAKER_02]: And so, you know, now in retirement,
37:21
[SPEAKER_02]: his joy also produces income.
37:25
[SPEAKER_02]: And so, he has defined work on his own terms.
37:29
[SPEAKER_02]: It doesn't even feel like work to him.
37:31
[SPEAKER_02]: And so, what a lot of people who are looking at their parents and grandparents are then going, you know, they got this pension for life, and they don't offer pensions anymore, and they didn't get sandwiched, so they didn't have the burden, financial burden of raising kids and having to take care of parents.
37:48
[SPEAKER_02]: I'm stuck.
37:48
[SPEAKER_02]: I'll never be able to do that.
37:50
[SPEAKER_02]: There's something wrong.
37:51
[SPEAKER_02]: You don't understand.
37:51
[SPEAKER_02]: You now have this 20-year life bonus.
37:55
[SPEAKER_02]: where you can learn to gig, you can't learn to, I often point to the show, the golden girls.
38:01
[SPEAKER_02]: I don't know if the creators of the show knew what they were doing or they intentionally did this, but look at that model.
38:09
[SPEAKER_02]: I think that's the model a lot of people were going to have to go to.
38:12
[SPEAKER_02]: And I think you touched on this a little bit earlier.
38:15
[SPEAKER_02]: You start talking about your father and your in-laws, and we don't have,
38:22
[SPEAKER_02]: Kinship the way we once did once models we have smaller families, right, to geographically we disperse, right, and so what in this planning process of your ideas self, which you also have to learn how to do is to replace kinships with friendships.
38:41
[SPEAKER_02]: So that's what was going on in that golden girl's house.
38:44
[SPEAKER_02]: You had Dorothy and her mother Sophia that had a kinship,
38:49
[SPEAKER_02]: But where they didn't have can't ship, they replaced it with their roommates.
38:53
[SPEAKER_02]: Oh yeah, with, with, with, with, with, with, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and, and
39:08
[SPEAKER_02]: So that makes the money go longer, right?
39:10
[SPEAKER_02]: Yeah.
39:10
[SPEAKER_02]: Then you start talking about what went on every day.
39:13
[SPEAKER_02]: Well, sometimes they were doing volunteer work and then they had to spin off what they bought a hotel.
39:18
[SPEAKER_02]: So they basically were doing their own version of a gig economy, right?
39:22
[SPEAKER_02]: They were engaging you as much as they wanted to or not.
39:26
[SPEAKER_02]: Then they had socialization from each other.
39:28
[SPEAKER_02]: There was always something going on in that house, right?
39:32
[SPEAKER_02]: And so, right, and then they had things to create, it's like a logical success.
39:36
[SPEAKER_02]: So I don't know if the creators of the show recognized at the time, but to me, I looked at it as sort of foreshadowing what people have to create for themselves on their own with this life bonus.
39:48
[SPEAKER_02]: and it will help them both financially as well as their mental and their mental well being.
39:53
[SPEAKER_01]: Great.
39:54
[SPEAKER_01]: Yes.
39:54
[SPEAKER_01]: I mean, I joke with my friend to have kids.
39:56
[SPEAKER_01]: I'm like, I just want you to know that your kid is going to have to take care of me because I don't have kids, but really actually I just need to find my golden girls.
40:03
[SPEAKER_01]: My husband and I just need to find a co-op, a little commune of all of our friend, all of our friends who don't have kids.
40:09
[SPEAKER_01]: We actually like what we'll be with.
40:10
[SPEAKER_01]: And we could have a great little retirement home.
40:13
[SPEAKER_01]: Maybe we're gonna be in the this what what I just I'm obsessed with and why I got excited to have you on is You know often times the be it to you see it podcast really talks about like what we can do right now Like for right now what we can do to be it to we see it tomorrow or for the thing we want next year or there might be some stuff I have never thought of it as like what can we?
40:35
[SPEAKER_01]: be doing right now to be a to a see it for retirement in a way that we can chew like we get the life as little we want and the research you've done the education you've had and how you've literally seen it implemented in unique ways because of all this work is so cool it makes me excited to actually like look into that future because like I'm like I'm like I'm not going to look past 50 because I got the things to do with my job with the job that I created for myself.
41:00
[SPEAKER_01]: It's like
41:02
[SPEAKER_01]: What, like, what can I be playing with right now so that I know what I'm going to do past 50?
41:07
[SPEAKER_01]: So I have something to look forward to.
41:09
[SPEAKER_01]: So I'm excited about it.
41:11
[SPEAKER_01]: So Greg, what are you most excited about right now?
41:14
[SPEAKER_02]: I'm excited about, I'm writing and researching and learning about the person I'm becoming.
41:19
[SPEAKER_02]: And so I often joke with my clients, but I'm really not joking.
41:22
[SPEAKER_02]: They'll come back and they'll tell me some amazing experience they had.
41:25
[SPEAKER_02]: And I always tell them, leave me a list of notes.
41:29
[SPEAKER_02]: So I know where to start when it comes to my time.
41:32
[SPEAKER_02]: And I say that jokingly, but it is serious.
41:36
[SPEAKER_02]: What we all need to start to focus on right now is just like we had that career guidance counselor helping us encoching us and to that next thing.
41:46
[SPEAKER_02]: We need to start hiking time to figure out that action plan for that next thing.
41:51
[SPEAKER_02]: And once you start to figure out,
41:55
[SPEAKER_02]: a retirement identity and understand my ideal.
41:59
[SPEAKER_02]: So you start to self-motivating and become excited about it.
42:02
[SPEAKER_02]: So what I really enjoy about what I've done through my work, whether it be here as an advisor or through my research, is that I'm helping people understand that they have a lot to be encouraged by.
42:17
[SPEAKER_02]: Yeah.
42:17
[SPEAKER_02]: Right?
42:18
[SPEAKER_02]: Yeah.
42:19
[SPEAKER_02]: You're gonna get 20 years.
42:21
[SPEAKER_02]: to do whatever it is you want to do and what I also want people to be understanding of, you don't have to leave the work force.
42:29
[SPEAKER_02]: If you're doing something off them already, just keep doing it.
42:32
[SPEAKER_02]: And if you want to modify that in some kind of way, figure out a plan or figure out your terms and how to negotiate those terms so you can do that.
42:41
[SPEAKER_01]: Well, I just, like, each answer, I just get more excited for people.
42:45
[SPEAKER_01]: I'm excited for myself.
42:46
[SPEAKER_01]: Like, I'm like, wow, this is so fun.
42:48
[SPEAKER_01]: We're going to take a brief break and then find out where people can find you, follow you, work with you, and you're being action items.
42:52
[SPEAKER_01]: Okay, Greg, where can they connect with you?
42:55
[SPEAKER_01]: You have a book, exit from work, but where can they go to chat with you, work with you?
42:58
[SPEAKER_01]: Like, get more ideas about their retirement identity.
43:02
[SPEAKER_02]: Sure, so I could be reached at mesero.com.
43:05
[SPEAKER_02]: So our website, MES, IROW.com.
43:10
[SPEAKER_02]: On that, if you put in my name and our search engine, Greg Lundsford, you'll come up with my team webpage.
43:15
[SPEAKER_02]: We'll have my bio, my contact information.
43:17
[SPEAKER_02]: Also list of all my publications.
43:20
[SPEAKER_02]: Also, if you're interested in my book, exit from work, this can be found on amazon.com.
43:26
[SPEAKER_02]: And I'm always encouraged by people who take time to drop me a note or we didn't even go into a talked about the Golden Girl situation.
43:35
[SPEAKER_02]: We didn't even go into their academically based retirement communities.
43:40
[SPEAKER_02]: Now, basically, as to the dormitory, you lived in when you were in your late teens and 20s, now people are going back to retire near where they went to school.
43:54
[SPEAKER_02]: building friendships based on the fact that they're alumni or they love the school.
43:58
[SPEAKER_02]: And so it's not like this.
44:00
[SPEAKER_02]: You were living in the Golden Girls subdivision.
44:03
[SPEAKER_02]: Maybe.
44:03
[SPEAKER_02]: Oh my god.
44:04
[SPEAKER_02]: So the all kinds of things that are going on right now.
44:08
[SPEAKER_02]: Yeah, I just I write about it in my book too.
44:10
[SPEAKER_02]: I just want people to learn about that.
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[SPEAKER_02]: So they don't feel as though they're confined to what they saw their parents do.
44:16
[UNKNOWN]: Yeah.
44:17
[SPEAKER_01]: Yeah.
44:17
[SPEAKER_01]: Oh my gosh.
44:18
[SPEAKER_01]: Brad, when you're listening to this,
44:24
[SPEAKER_02]: We'll choose that one he could he could probably teach all the people I know that want to start a rock band.
44:30
[SPEAKER_01]: Yeah, yeah, yeah, yeah, yeah him and his buddies I could be their whole little bit.
44:34
[SPEAKER_01]: They would love it.
44:35
[SPEAKER_01]: Okay, you've given us a lot, but I do want to dive into the bold executable intrinsic or targeted steps people can take to be it today.
44:48
[SPEAKER_01]: See what you have for us.
44:50
[SPEAKER_02]: Okay, so what you first have to do is you have to create a vision and if you have a partner it is very important that that be a shared vision the last thing we want to do is get to the end of our career and then have conflict with our partner and a lot of that happens because most couples do not talk about retirement they don't even know if the other partners is saving for retirement like 40% of couples don't even talk about this don't even do the calculation to get past them.
45:16
[SPEAKER_02]: So, so if you haven't even done the basics on that yet, talking about this thing you aspire to be, it's very difficult because, and so the last thing you want to do is you both jump at it, and you're stuck in, and you're unhappy.
45:29
[SPEAKER_02]: So create a vision.
45:31
[SPEAKER_02]: If you have a partner, make sure that's a sheer vision.
45:33
[SPEAKER_02]: And this starts talking about goals, engage someone like myself who's a financial planning professional.
45:39
[SPEAKER_02]: They help you see,
45:40
[SPEAKER_02]: how you can align your financial wherewithal with those goals, and then think differently.
45:45
[SPEAKER_02]: Think about being your best self at this stage, not being someone who society just said, it's time for you to leave, because that's not the case.
45:55
[SPEAKER_02]: You have more value to offer a lot of people than you think.
46:01
[SPEAKER_01]: I do.
46:02
[SPEAKER_01]: I love that.
46:02
[SPEAKER_01]: This is an episode.
46:03
[SPEAKER_01]: I really hope my animal is actually
46:07
[SPEAKER_01]: I really am actually just really excited for even our listeners who are like, you know, they might be in there, they might be like 15, 20 years away from retirement, but or even 10, but like we have a bunch of them.
46:20
[SPEAKER_01]: And I hope this helps them rethink that because I think sometimes there's a fear to, oh my god, you know, and you just said it like being the system has told them that they're done.
46:30
[SPEAKER_01]: But you're not done, and so I just, you've given like so much excitement around this topic and joy and possibility.
46:38
[SPEAKER_01]: So Greg, thank you for being you.
46:40
[SPEAKER_01]: You all, how are you going to use these tips in your life?
46:43
[SPEAKER_01]: We want to know.
46:44
[SPEAKER_01]: Make sure you tell Greg on spread your takeaways.
46:46
[SPEAKER_01]: I'm sure it will make his day.
46:48
[SPEAKER_01]: She has a friend who needs to hear at that friend who's like, so worried all the time, like, absolutely needs this.
46:52
[SPEAKER_01]: And you know what to do until next time.
46:54
[SPEAKER_01]: Be it till you see it.
46:55
[SPEAKER_01]: That's all I got for this episode of the B.A.T.A.C.A.
46:58
[SPEAKER_01]: podcast.
46:59
[SPEAKER_01]: One thing that would help both myself and future listeners is for you to rate the show and leave a review.
47:04
[SPEAKER_01]: And follow or subscribe for free wherever you listen to your podcasts.
47:08
[SPEAKER_01]: Also, make sure to introduce yourself over at the B.A.A.P.A.
47:11
[SPEAKER_01]: on Instagram.
47:12
[SPEAKER_01]: I would love to know more about you.
47:14
[SPEAKER_01]: Share this episode with whoever you think needs to hear it.
47:16
[SPEAKER_01]: Help us and others B.A.T.A.C.A.A.
47:19
[SPEAKER_01]: Have an awesome day.
47:23
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47:26
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47:38
[SPEAKER_00]: It's written, filmed, and recorded by your host, Leslie Logan and me, Brad Crowell.
47:43
[SPEAKER_01]: It is transcribed, produced, and edited by the epic team at disenio.co.
47:47
[SPEAKER_00]: Our theme music is by L.E.
47:49
[SPEAKER_00]: at Apex Production Music and our branding by designer and artist John Franco Chilfe.
47:55
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47:58
[SPEAKER_00]: Also to Angelina Herico for adding all of our content to our website.
48:02
[SPEAKER_00]: And finally, the Meredith route for keeping us all on point and on time.