Ep 150: "Future Poor - Real Solutions for Retirement"

Money & You with Michelle Perkins

Michelle and guest Jonathan Grimm, author of "The Future Poor," licensed financial advisor, and founder of Tend Financial, highlights the way we do retirement and how we can move into a unique and life-changing, new way that fits today’s world so much better. The model for traditional retirement isn’t aligned with our life span, medical expenses and other aspects of life today.
Jonathan and I discussed the evolution of retirement and the looming retirement crisis. The conversation delved into the history of retirement, societal changes, and the financial industry's impact on retirement planning. Jonathan emphasized the need for a new perspective on retirement, suggesting alternative approaches to financial planning and work. The discussion highlighted the importance of reevaluating traditional retirement norms and considering innovative solutions to address the challenges faced by retirees. The podcast aimed to provoke critical thinking about finance, retirement, and societal values, encouraging listeners to consider new perspectives on financial planning and retirement preparation. The conversation provided insights into the changing landscape of retirement and the need for a shift in mindset towards financial security in later years.
00:00 - Revolutionizing retirement planning
05:23 - Evolution of retirement systems
12:23 - Redefining old age care
19:44 - Work as life fulfillment
29:32 - Financial advisors' reality check
37:11 - Empowering the middle class
45:51 - Stay informed, stay ahead
Main Topics Discussed:

• History of retirement development and societal changes impacting retirement planning.
• See Jonathan’s video short on his website to understand how we got here: https://www.thefuturepoor.com/
• The impact of inflation, rising costs, and the need for alternative retirement strategies.
• The importance of work, social interaction, and generational blending in retirement planning.
• The role of financial advisors and the need for strategic, honest advice in the current financial landscape.

Key Takeaways:

• Retirement is a relatively new concept in human history, with significant changes post-1980.
• Traditional retirement models may not be sustainable in the current economic environment.
• Work provides more than just income and should be viewed as a valuable aspect of life.
• Financial advisors should offer strategic and honest advice tailored to individual circumstances.
• Pooled resources and charitable efforts can play a crucial role in addressing retirement challenges.

The Grimm News and Jonathan’s podcast can be found on the futurepoor.com website above. Updates on the book "The Future Poor" and daily insights on financial landscape changes, as well as fun and informative content to engage listeners and provide critical thinking on finance and life can also be found.
Loving Request - Please share this show, especially with those who are retiring or planning to retire! This is truly information that everyone should hear and think about.
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