An Evidence-Based and Academic Approach to Retirement Planning with David Jones

Summary

In this episode, I get to sit down with David Jones from Dimensional about evidence-based investing and retirement planning. We discuss the challenges of the retirement transition, the importance of social connections, and the role of financial planning in retirement. We also explore the fear of spending money in retirement and the benefits of intergenerational wealth. Our conversation concludes with a discussion on the Japanese concepts of Kanreki and Ikigai in retirement and the secret of evidence-based investing.

Takeaways

• Retirement transition can be challenging, and it is important to have a clear financial plan and structure in place.
• Social connections are crucial in retirement for mental and physical health.
• Investing in retirement should be based on evidence and academic research to mitigate risks and achieve long-term goals.
• Overcoming the fear of spending money in retirement requires open communication, financial planning, and understanding the purpose of wealth.
• Intergenerational wealth and gifting can be beneficial for both the giver and the receiver, and open conversations about money within families are important.

Chapters

00:00 Introduction and Background

04:35 Dimensional's Evidence-Based Approach

07:43 The Lack of Academic Research in Investing

10:03 The Challenges of Retirement Transition

13:18 The Challenges of Retirement

16:21 The Importance of Social Connections in Retirement

18:01 The Role of Financial Planning in Retirement

19:37 Investing in Retirement with Evidence and Academic Research

28:55 Understanding Risk in Retirement

36:44 Overcoming the Fear of Spending in Retirement

43:28 The Importance of Financial Planning in Retirement

46:17 The Challenges of Spending Money in Retirement

48:30 Using Monopoly to Understand Intergenerational Wealth

55:16 Japanese Concepts of Kanreki and Ikigai in Retirement

01:06:37 The Secret of Evidence-Based Investing

Episode Links & Resources

• My blog about the Japanese concept of Kanreki
• David's Monopoly Money article
• WealthGPS – Lifestyle Financial Planning by TFP
• Download My FREE Retirement Toolkit
• Subscribe to my Super Sunday Retirement Roundup Newsletter