How to Retire with Christine Benz

Summary

In this episode, I'm thrilled to welcome back to the show Christine Benz as we delve into her best selling book How to Retire: 20 Lessons For a Happy, Succesful, And Wealthy Retirement. 

When Christine was a guest on the podcast in ep 36 back in March of this year, her book had not yet been released but we did get a sneak peek into what she had in store for us.  

Now, having got my hands on a copy and seeing how successful the book has become I wanted to get Christine back on the show to talk about my 5 favourite chapters or lessons from the book. So, stay tuned as we discuss 

• Laying the groundwork with Fitz Gilbert
• Creating a spending plan with Jonathan Guyton
• Permission to spend on what matters most with Ramit Sethi
• Structuring portfolios for cashflow by Christine herself
• Leave no regrets with Jordan Grummet 

 Throughout our conversation Christine and I explore the multifaceted aspects of retirement, focusing on the importance of mindful spending, the balance of time, money, and health, effective cash flow strategies, and the significance of purpose in life. We discuss how individuals can align their spending with their values, the psychological benefits of structured cash flow, and the necessity of reflecting on life to avoid regrets.  

Key Takeaways

• Retirement is a unique life stage that requires thoughtful planning.
• Visualizing how to use retirement years is crucial.
• Financial resources should support lifestyle choices in retirement.
• People often underestimate the complexities of retirement planning.
• A holistic approach to retirement includes both financial and non-financial aspects.
• Laying groundwork involves both financial and personal preparations.
• Experiencing mini-retirements can provide valuable insights.
• Flexible spending strategies are essential for adapting to life changes.
• Non-portfolio income sources can enhance financial security in retirement.
• Understanding the behavioral aspects of spending can improve retirement planning.
• Mindful spending aligns with personal values.
• Revisiting values annually is crucial for retirees.
• Cash flow strategies provide peace of mind in retirement.
• Purpose in life can be cultivated through small actions.
• It's important to enjoy the journey of life.
• People regret not attempting rather than failing.
• Elevating your worry-free number can reduce stress.
• Understanding the balance of time, money, and health is essential.
• Small P purposes can lead to a fulfilling retirement.
• Time is a non-renewable resource that should be valued. 

Sound Bites

"This is a really special life stage."
"Use your time wisely, use it thoughtfully."
"You need a unified vision for retirement."
"Mini retirements can be really impactful."
"Flexible spending strategies are essential."
"Non-portfolio income sources are important."
"Spending feels better than saving."
"Spending your money on what matters to you."
"Elevate your worry-free number."
"Purpose is not found, it's created."
"We regret not attempting, not failing."

Chapters

00:00 - Introduction to Retirement Planning
03:13 - The Essence of Retirement: Time and Vision
06:00 - The Complexity of Retirement: Balancing Finances and Purpose
08:55 - Laying the Groundwork for Retirement
12:05 - Experiencing Mini-Retirements
21:05 - Creating a Flexible Spending Plan
29:30 - The Importance of Spending Mindfully
36:30 - Understanding Time, Money, and Health Balance
42:15 - Cash Flow Strategies for Retirement
48:42 - Leaving No Regrets: Embracing Purpose in Life

Links

• Buy How to Retire
• Book in a time for us to chat about your retirement plans