It’s a super-sized episode today—and for good reason. We spend the bulk of the show in a deep, insightful conversation with Dr. Meir Statman, a leading voice in behavioral finance. I also walk you through the four non-financial pillars of retirement: mindset, energy, passions, and relationships. We'll talk about how to manage what you can control—and how to respond when life throws you the stuff you can’t. Plus, we answer a few of your questions. There’s a lot here, but it’s worth every minute. Let’s get to it. SUMMARY OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) This podcast is dedicated to helping you survive retirement with confidence (00:34) Today on the show we are going to focus on the non-financial realm as we continue talking about process and things we can control versus what we can’t control. ROCKIN RETIREMENT IN THE WILD (02:14) Roger shares an anonymous message from a listener about her husband retiring and the confidence they have built in their retirement. PRACTICAL PLANNING SEGMENT (04:50) Sometimes in retirement planning, we tend to overemphasize the financial side of things and forget about the rest of our lives. (06:23) Roger identifies controllables and non-controllables within the non-financial pillars of retirement. (14:50) Roger talks about some examples of people who focused on things that they could control and found success. (16:19) Roger says that the Rock Retirement Club has been a source of inspiration for him. INTERVIEW WITH MEIR STATMAN (18:13) Roger introduces Meir Statman, author of A Wealth of Wellbeing. (19:34) Roger asks what motivated Dr. Statman to write his latest book. (22:10) Dr. Statman talks about his relationship with Nobel Prize winner, Harry Markowitz (25:57) Roger talks about behavioral finance and what it means from his perspective. (30:02) We talk about financial wellbeing but you also need to focus on life wellbeing. (31:06) Dr. Statman discusses a u-curve in life wellbeing. (37:25) Roger and Dr. Statman talk about accepting who you are. (39:30) Dr. Statman talks about the components of wellbeing. (41:49) Roger asks about social capital in retirement. (49:00) Starting a conversation is really important, Meir says (51:19) What is cultural capital? (57:32) Developing social, cultural, and personal capital becomes harder as you get older. (01:01:38) What is personal capital? LISTENER QUESTIONS (01:04:42) Listener Brian sends a question about generating his retirement paycheck. (01:17:52) Another listener named Brian asks about investing in annuities. SMART SPRINT (01:22:20) In the next seven days, before you get out of bed, smile and tell yourself it is going to be a great day! BONUS (01:22:48) Roger reads from his grandfather’s WWII journal. REFERENCES Nick Vujicic- Motivational Speaker Nelson Mandela Mier Statman Retirement Answer Man Sign up for The Noodle (previously known as Six Shot Saturday) BOOKS Man's Search for Meaning by Viktor Frankl I Know Why the Caged Bird Sings by Maya Angelou A Wealth of Well-Being: A Holistic Approach to Behavioral Finance by Meir Statman The Second Mountain: The Quest for a Moral Life by David Brooks Bowling Alone: Revised and Updated: The Collapse and Revival of American Community by Robert Putnam The How of Happiness: A Scientific Approach to Getting the Life You Want by Sonja Lyubomirsky Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie Duke
