The Psychology Behind Spending Money in Retirement with Dr Joy Lere
In this episode of the Human vs Retirement podcast, Dan explores the psychology behind spending money in retirement with licensed clinical psychologist and co-founder of Shaping Wealth, Dr. Joy Leary. Joy shares her journey from the couch to the world of money and provides valuable insights on how our mindset affects our spending habits during retirement. Together, they discuss the behavioural and emotional challenges of life after work and draw on years of expertise and experience to offer practical and thoughtful solutions. Tune in for an insightful conversation on the psychological impacts of spending money in retirement.
What You'll Learn
The psychological impacts of spending money in retirement
The importance of understanding the psychology of money and how it impacts financial planning, balancing financial well-being with healthy spending habits
The role of financial role models
The challenges of transitioning from a regular income to retirement
Taking advantage of our "go-go years" to spend money on what's important
Balancing life span and health span
The emotional and relational connections people have with money and assets
The emotional attachment people have to their homes and how it can affect their financial decisions
The importance of validation and knowledge when it comes to money decisions
The importance of self-observation and experimentation in improving financial well-being
Living life on one's own terms, investing in relationships, taking care of one's body, and getting enough sleep for a happy, healthy, and wealthy retirement.
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About My Guest
Joy is a licensed clinical psychologist and an expert in human behaviour. She has held research and clinical positions at Penn Medicine Princeton Health, Children's National Medical Centre, and the Department of Defence and has served as an Assistant Clinical Professor in Clinical Psychology at George Washington University. She earned her PsyD at George Washington University.