120: The Three Cornerstones of a Happy And Fulfilling Retirement

The Human Side of Money

Michael Finke’s research shows that the trifecta of a happy and fulfilling retirement incorporates:

1. Money
2. Health
3. Social Connection

Most financial advisors know the money part.

But how can you incorporate the other health and social connection parts into a financial plan to help your clients live a happy and fulfilling retirement?

Fortunately, Michael Finke is the foremost authority on this topic and shares with us the three cornerstones of a happy and fulfilling retirement and how to incorporate it into your retirement planning work with clients.

You’ll Learn:

• The only two places your money can go
• How to increase your clients’ happiness per dollar spent
• Why your clients should start taking forced semi-retirements
• One thing most retirees believe will provide satisfaction but doesn’t
• The amount of wealth where life satisfaction peaks before falling again
• The one relationship in your life with the highest correlation to life satisfaction

Resources:

• 98: Creating a Unique Money Vision to Build a Client’s Ideal Life With Jake Northrup
• 53: The Psychology of Decision-Making in Financial Planning With Hal Hershfield
• “Your Future Self: How to Make Tomorrow Better Today”
• “The Secret of Our Success” by Joseph Henrich
• “Die with Zero” by Bill Perkins
• “Habits of a Happy Brain” by Loretta Graziano Breuning

Connect with Brendan Frazier:

• RFG Advisory
• LinkedIn: Brendan Frazier

Connect with Michael Finke:

• Michael Finke
• LinkedIn: Michael Finke
• LinkedIn: Income Path Software

About our Guest:

Michael Finke, Ph.D., is a Professor of wealth management and Frank M. Engle Distinguished Chair in Economic Security Research at The American College of Financial Services. He is a nationally known researcher in the areas of retirement income planning, retirement spending, life satisfaction, and cognitive aging. He is a frequent speaker at financial planning conferences and was named one of the 25 most influential people in the field of investment advising in 2020 and 2021 by Investment Advisor Magazine.

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