Description

In this episode of the Intelligent Retirement Podcast, author and founder of Shaping Wealth, Brian Portnoy, Ph.D., discusses the concept of 'enough' in financial terms, emphasizing thatit is a decision rather than a number. He explores the psychology behind spending and saving, the importance of funded contentment, and the conflict between wanting more and having enough. The conversation also delves into theevolving nature of retirement, the significance of transitioning from work to a meaningful post-career life, and personal reflections on regret and fulfillment.

Key Takeaways

• 'Enough' is a mindset, not just a financialfigure.
• Spending is a skill that requires practice.
• Experiences tend to bring more happiness than material goods. 
• The conflict between wanting more and having enough is a human condition.
• Retirement should be about transitioning to something meaningful, not just leaving work.     
• Understanding your values is crucial forfinancial planning.
• The concept of funded contentment helps define a meaningful life.
• Regret often stems from missed opportunities rather than risks taken.
• Financial success does not always equate to life satisfaction. 
• Planning for retirement should include reflections on legacy and purpose.

Chapters

00:00 Introduction to Behavioral Finance and Wealth

04:42 Understanding the Psychology of Spending

10:18 The Concept of Funded Contentment

15:17 Defining Enough: A Decision, Not a Number

19:24 Financial Success vs. Life Satisfaction

24:47 Hedonic Adaptation and the Ratchet Effect

29:36 Retirement: From Work to Meaningful Living

33:26 Evolving Concepts of Retirement and Longevity

38:01 The Interplay of Financial and Personal Well-Being

41:22 Geometry of Wealth: A Framework for True Wealth

45:31 Personal Reflections on Funding Contentment

49:40 Retiring To Something: A Mindset Shift
Resources
The Geometry of Wealth: How to shape a life of money and meaning

Shaping Wealth

Connect with Brian

Consolidated Planning

Send us your questions at myintelligentretirement.com

Disclosures

This podcast is for informational purposes only, and should not be considered tax, legal, or investment advice. Although the information has been gathered from sources that are believed to be reliable, please keep in mindthat individual situations may vary. Therefore, the information should only be acted upon when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with, or endorsed by Park Avenue Securities, Guardian, Intelligent Retirement,or Consolidated Planning, and all views and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

James Matthews is a Registered Principal and Financial Advisor of Park Avenue Securities, LLC. Securities products and advisory services are offered through Park Avenue Securities, member FINRA, SIPC. James Matthews is a Financial Representative of The Guardian Life Insurance Company of America, New York, New York. Park Avenue Securities is a wholly-owned subsidiary of Guardian. Consolidated Planning and Intelligent Retirement are not affiliates or subsidiaries of Park Avenue Securities or Guardian. 8096429.1, exp 07/2027.