In this episode of Redefine Retirement hosted by Ryan Wheless, guest Christine Benz, Morningstar's director of personal finance and author of How to Retire: 20 Lessons for a Happy, Successful Retirement, shares a holistic approach to retirement planning. Beyond the financial aspects, Benz emphasizes the importance of finding purpose, nurturing relationships, and maintaining flexibility in spending to ensure a fulfilling retirement.
The discussion covers critical topics like Social Security strategies, the "widow's tax" challenge, long-term care planning, and the psychological barriers to spending in retirement, such as the "permission to spend" problem.
Benz advocates for a gradual transition into retirement, aligning guaranteed income sources with fixed expenses, and preparing for potential tax and health care costs to secure a balanced and meaningful post-work life.
Learn more and connect with Christine at:https://www.morningstar.com/people/christine-benz
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