Most financial people talk about return on investment. Today, we’re going to talk about “return on life” with author and retirement expert Mitch Anthony.
Mitch describes return on life in a couple ways. First, it’s about getting the best life you can with the money you have and second, it’s about managing your money in a way that improves your life.
This is Part I of a two-part show on how to significantly increase your “return on life.”
Imagine a picture of a sailboat whose sail is made out of a dollar. Mitch says money is simply a utility that we skillfully manipulate in order to navigate.
As you picture that sailboat, it’s important to realize that money is not the shore we’re headed toward. It’s not the sea we sail upon. And it’s not the vessel upon which we sail. It’s simply a utility we use to help us live our most meaningful life.
Our guest Mitch Anthony is the founder of the Financial Life Planning Institute, the author of multiple books, widely published in financial periodicals, an international speaker, and the host of a syndicated daily radio feature, The Daily Dose.
Should retirees "work" in retirement doing something they love? How does that affect your Social Security income? Is paying off your mortgage before you retire a good idea or are you better off with the extra cash cushion? What should you do when you inherit an IRA from your spouse?
Those are just a few of the questions we'll answer in today's podcast. You asked them and we're answering.
There are two aspects to retirement planning. First--and this is the one that often gets the most attention--is the numbers. It's about how to ensure you have enough money to retire and that you make financially sound money decisions. But the second aspect is what most current and future retirees really want--how to enjoy life without worrying about money.
We cover both topics in today's episode.
As a leadoff, we start the episode talking about a recent book by our friend Steve Moeller titled, Endorphinomics: The Science of Human Flourishing. And Bill gets put on the spot as Steve asks him questions about a concept from the book called the "happiness tipping point." Did Bill rise to the challenge? Listen to find out...