In this episode of the Intelligent Retirement Podcast, renowned retirement speaker and author Jamie Hopkins joins host James M. Matthews to discuss the various risks associated with retirement, emphasizing the importance of adaptability, planning, and execution. They explore longevity risk, health care costs, family legacy planning, and the impact of public policy on retirement security. The conversation highlights the need for a shift in mindset from accumulation to decumulation, focusing on sustainable income and the importance of having difficult conversations about end-of-life planning.

Key Takeaways

• Risk in retirement is fundamentally different from accumulation risk.
• Longevity risk can exacerbate other financial risks.
• Adaptability is crucial for successful retirement planning.
• Health care costs are unpredictable and should be planned for.
• Family and legacy planning are essential components of retirement.
• Behavioral and cognitive changes can impact financial decision-making in retirement.
• Public policy changes can significantly affect retirement income planning.
• Execution and follow-through are critical to effective retirement planning.
• Retirement planning should focus on trade-offs rather than binary success or failure.
• Self-insuring every risk can lead to a subpar retirement experience.

Chapters

00:00 Introduction and Background

11:59 Understanding Longevity Risk

19:03 Health Care and Long-Term Care Risks

24:10 Navigating Medicare and Healthcare Costs

30:50 The Dynamics of Social Security

32:28 Understanding Market, Inflation, and Tax Risks

34:05 The Risk of Inaction in Financial Planning

36:22 Rewirement: Shifting Mindsets for Retirement

38:31 Living a Meaningful Retirement

44:27 Investment Insights for a Secure Future

Resources

The 18 Risks Faced in Retirement

⁠Bryn Mawr Trust⁠

⁠Jamie Hopkins on X⁠

⁠Jamie Hopkins LinkedIn⁠

⁠ReWirement: Rewiring the way you think about retirement⁠

⁠Consolidated Planning⁠

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 mind that 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 throughPark Avenue Securities, member FINRA, SIPC. James Matthews is a Financial Representative of The Guardian Life Insurance Company of America, New York, NewYork. 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. 8015344.1 exp 06/27.