In this episode of Money & Meaning, host Jeff Bernier reflects on the passing of his father—his personal “George Bailey”—and explores the implications of living longer in today's evolving retirement landscape. Jeff outlines the financial risks and opportunities of extended longevity, including inflation, healthcare costs, market volatility, and potential benefit cuts. He shares how both individuals and the financial industry can adapt their planning strategies to better prepare for a longer, more purposeful retirement.
Topics covered:
- Reflections on Jeff’s father and a life of purpose
- The impact of increased life expectancy on retirement planning
- Longevity risk and the fear of outliving one’s savings
- Rising healthcare costs and the role of HSAs
- Inflation, market volatility, and behavioral investment risks
- Early vs. delayed retirement decisions and flexible retirement paths
- Potential Social Security benefit cuts and higher tax burdens
- Economic headwinds: government debt, slower growth, and lower returns
- "Deep risk" vs. shallow risk in portfolio planning
- Strategies for broader diversification in uncertain times
- Role of technology and auto-enrollment in retirement plans
- Importance of financial planning, adaptability, and investor behavior
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