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31
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