Episode 198: Beyond the Numbers: The Human Side of Retirement

In part one of their conversation with Dan Haylett, Wade Pfau and Alex Murguia explore the human side of retirement planning. They emphasize that financial planning is only part of the equation and discuss the emotional and psychological challenges retirees face. Dan introduces the five pillars of a thriving retirement: purpose, identity, relationships, structure, and well-being. The discussion highlights how finding new sources of meaning and connection after leaving a career is essential for a fulfilling retirement.

Takeaways

Retirement is about more than financial numbers—it’s deeply human.
Many retirees struggle with a loss of purpose and identity.
The five pillars of a thriving retirement are purpose, identity, relationships, structure, and well-being.
Money provides the freedom to pursue interests and purpose.
Retirement often brings major shifts in identity and relationships.
Building new social connections is essential for fulfillment.
Emotional and psychological planning is as important as financial planning.
Discussing potential challenges early helps ease the transition.
Retirement affects not just individuals but also family and friends.
Chapters

00:00 Introduction to Retirement Planning
01:10 The Human Side of Retirement
05:09 Day 182: The Reality of Retirement
08:07 The Five Pillars of a Thriving Retirement
11:06 Finding Purpose in Retirement
15:11 Identity Crisis in Retirement
20:16 The Impact of Work Relationships
28:18 Facilitating Purpose in Retirement
31:52 Navigating Life’s Challenges in Retirement
34:07 The Importance of Open Conversations

Links

Are you an Advisor? — Ready to take your prospect and client conversations to the next level? Join Wade Pfau and Alex Murguia for a free webinar, “How to Close Prospects & Increase Wallet Share.” You’ll see how the RISA framework streamlines meetings, builds trust faster, and creates a scalable process for long-term growth

Two live sessions available: October 8 or 9, from 1:00–2:30 PM ET
Visit risaprofile.com/podcast to register now.

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