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The Importance of Addressing Your "Money Scripts" in Retirement with Sonya Lutter
Summary
In this episode, Sonya Lutter discusses the intersection of financial wellbeing and mental health in retirement. She emphasises the importance of addressing money scripts and financial behaviours, as well as aligning spending with values in retirement. Sonia also explores the challenges that arise in marriage and relationships during retirement and highlights the significance of purpose in leading a happy and fulfilling retirement. Additionally, she discusses the value of working with a financial advisor in achieving financial satisfaction and relationship satisfaction in retirement. In this episode, Dan and Sonia discuss the key to happiness in retirement and the impact of financial planning on people's lives. They also explore Sonia's work and resources for individuals and couples preparing for retirement. The conversation concludes with a reflection on the importance of love in retirement planning.
Takeaways
Financial planning can lead to greater happiness and freedom in retirement.
Sonia offers online courses, books, and research papers to help individuals and couples prepare for retirement.
Love should be prioritised over money when planning for retirement.
Chapters
00:00 Introduction and Background
03:00 The Intersection of Financial Wellbeing and Mental Health
08:21 The Emotive Nature of Money
11:02 Money Scripts and Financial Behaviours
14:55 The Importance of Addressing Money Scripts in Retirement
19:06 The Challenge of Spending Money in Retirement
21:35 Aligning Spending and Values in Retirement
27:04 Navigating Changes in Marriage and Relationships in Retirement
30:47 Mental Health Challenges in Retirement
34:47 The Importance of Purpose in Retirement
38:55 The Value of Working with a Financial Advisor
47:01 The Key to Happiness
48:03 Sonia's Work and Resources
49:21 Love Comes First