Ep # 74 - A Retirement Manifesto with Fritz Gilbert
Fritz Gilbert, the award-winning author of the blog “The Retirement Manifesto” joins Joe to share his unconventional yet successful approach to retirement planning.
He emphasizes the importance of not fixating on the financial aspects of retirement but embracing the non-financial elements, such as relationships and purpose, that impact a smooth transition into retirement.
Retirement is about freedom. We encourage retirees to explore varied interests, follow their curiosity, remember their childhood dreams, as well as serve others as guiding principles in crafting a joyful retirement. Fritz’s contagious enthusiasm and practical insights offer a refreshing perspective on retirement planning and purposeful living.
What You’ll Learn in Today’s Episode
1. Intentional Relationship Building: Fritz shares the importance of building relationships outside of work before retirement. He recommends being intentional about creating connections that can play a crucial role in post-retirement happiness.
2. Blind Spots in Retirement: Many individuals underestimate the challenges of retirement transition. Fritz discusses a significant gap between pre-retirees expectations and retirees' experiences, particularly regarding the smoothness of the transition. Recognizing potential blind spots is essential for better preparation.
3. Flexibility in Pursuits: Retirement isl ike holding a hand of cards, each represents a different pursuit and interest. As a retiree you have the freedom to continually reassess and shuffle these cards, to explore new passions, scale back on what you don’t love, and build a dynamic life.
4. Curiosity and Childhood Dreams: Tap into your curiosity and childhood dreams. Explore interests that have been dormant for years, like taking up mountain biking. Remembering your childhood passions and dreams can bring immense joy in retirement.
5. Focus on Serving Others: Finding purpose in retirement often involves serving others. Whether through charitable work or contributing to the community, helping others not only provides a sense of fulfillment but also creates meaningful connections and relationships.
Ideas Worth Sharing
· "Don't give up today for a tomorrow that may never come."
· "Retirement is like a hand of cards. You're free to pick up new cards, put cards down, shuffle your priorities. It's liberating."
· "In retirement, it's not about going out to save the world. Just think about something that piques your curiosity, take a step in that direction."
· "Retirement is a lot like childhood. You don't have to worry about money, you're free to play.”
· "Focus on finding a way to serve others. If you can home in on an area where you're helping other people, you don't have to help yourself. That's the joy of retirement."
Resources in Today’s Episode
Retirement Planning Simplified
The Retirement Manifesto – The Ultimate Pre-Retirement Checklist – Fritz’ checklist
Ep # 16 – YRPS – Living a Passion-Driven and Authentic Life with Scott Armstrong
Ep # 24 – YRPS – The Curated Retirement, Interview with Retirement Coach Tammy Vigue
Ep # 46 – YRPS – Overcoming Retirement Fears with Jacquie Doucette
Ep # 54 – YRPS – Unlocking Fulfillment and Purpose in Retirement: Insights from Mary Ellen French and David Wing
Retiring FROM Something Versus Retiring TO Something:
A Retirement Manifesto
Join us as we explore the journey to retirement with guest Fritz Gilbert (Award-winning author of The Retirement Manifesto blog).
We discuss the importance of financial and non-financial preparation. But what happens when the sense of purpose and relationships from work disappear in retirement?
Retirement is like a hand of cards. You can pick up new cards and put down old ones. It's in constantly picking up these cards and thinking about the cards, your priorities that are in your hand, and that will naturally evolve to where you're doing the things that bring you the most joy.
Fritz Gilbert shares his journey toward retirement, emphasizing a balanced approach to life and finances. When he first started planning for retirement, he focused on saving aggressively. However, rather than fixating solely on retirement, he and his family embraced the present, cherishing experiences and making memories. As he entered into retirement, this led him to a deeper consideration of non-financial aspects, recognizing their significance in retirement. Through his blog “The Retirement Manifesto”, Fritz documents his evolving mindset, advocating for early preparation and emphasizing the importance of addressing the emotional and social aspects of retirement. His story serves as a reminder to savour the journey while laying a strong foundation for the next chapter, offering valuable insights for those approaching retirement.
In this episode, you will be able to:
· Maximize your retirement with expert planning and preparation.
· Navigate the blind spots in your retirement transition with ease.
· Discover the key to finding purpose in retirement.
· Uncover the joy of pursuing new interests and hobbies in retirement.
· Explore the fulfilling path of serving others in retirement.
The Resources Mentioned in This Episode are:
· “The Retirement Navigator” - the ultimate pre-retirement planning guide - A comprehensive checklist and guide for pre-retirement planning, including specific action items and related articles. Available at retirementplaningsimplified.ca.
· Fritz Gilbert's Blog “The Retirement Manifesto” - A valuable resource for retirement planning, personal finance, and lifestyle design. Accessible by searching for Fritz Gilbert or The Retirement Manifesto online.
· Summer RV Trip Planning - Follow Fritz Gilbert's journey and get inspired for your own summer RV trip by following his blog and social media updates.
· Fritz Gilbert's Book - Keys to a Successful Retirement: Staying Happy, Active and Productive in Your Retired Years - Explore Fritz Gilbert's book for in-depth insights and guidance on retirement planning and lifestyle design. Available for purchase on major online bookstores.
· Fences for Fido Charity - Learn more about the charity founded by Fritz Gilbert's wife and find opportunities to support or volunteer for this meaningful cause.
Timestamped summary of this episode:
00:00:00 - Introduction and Career Journey
Joe welcomes Fritz to the show and discusses his career journey, focusing on savings and promotions. Fritz emphasizes the importance of enjoying the journey and not obsessing over retirement.
00:02:13 - Retirement Preparation
Fritz discusses when he started seriously thinking about retirement and the role his blog played in documenting his journey. He emphasizes the importance of capturing the present before it becomes the past.
00:06:20 - Non-Financial Preparations
Fritz talks about the non-financial aspects of retirement, such as relationships, purpose, and structure, and how he intentionally worked on building these aspects before retiring. He emphasizes the importance of focusing on non-financial benefits from work.
00:08:22 - Importance of Pre-Retirement Preparation
Fritz highlights the correlation between time spent in preparation and the smoothness of the retirement transition. He encourages pre-retirees to focus on non-financial aspects at least six months before retirement to ensure a smoother transition.
00:11:43 - Retirement Spending and Lifestyle
Fritz emphasizes the importance of aligning retirement spending with one's desired lifestyle. He discusses the need to think about what one wants retirement to be before testing retirement spending through a "dress rehearsal."
00:12:17 - Financial Planning for Retirement
Fritz and his wife tracked their retirement spending for a year and adjusted it for their retirement lifestyle, including travel in an RV and moving to a cabin.
00:13:14 - Blind Spots in Retirement Planning
Fritz discusses the blind spots in retirement planning, including the surprising difficulty of the transition into retirement and the underestimated value of work relationships and non-financial benefits.
00:15:42 - Personal Transition to Retirement
Fritz shares his personal experience of retirement, highlighting the unexpected aspects of the transition, particularly the impact of his wife's caregiver role coming to an end.
00:19:06 - Pursuing Purpose in Retirement
Fritz talks about how his retirement pursuits have evolved, focusing on fitness, writing, and his wife's charity work with "Freedom for Fido." He emphasizes the importance of finding purpose in retirement through various activities.
00:22:21 - Prioritizing in Retirement
Fritz discusses the concept of retirement as a hand of cards, where individuals have the freedom to pick up and put down different pursuits. He emphasizes the importance of identifying priorities to structure and motivate life in retirement.
00:24:16 - Finding Joy and Freedom in Retirement
Fritz shares the importance of picking up different "cards" in retirement, focusing on things that bring joy, and having the freedom to explore new interests without financial worries.
00:25:08 - Balancing Priorities in Retirement
Joe discusses the need to evaluate new initiatives in retirement and the importance of subtracting activities to make time for new pursuits, such as hobbies and interests.
00:26:27 - Retirement as a Time for Exploration
Fritz reflects on the similarities between retirement and childhood, emphasizing the freedom to explore and try new activities without financial constraints, inspiring listeners to tap into their curiosity and childhood dreams.
00:27:24 - Serving Others in Retirement
Fritz highlights the fulfillment of serving others in retirement, encouraging listeners to focus on finding ways to contribute to their communities and engage in charity work, fostering meaningful relationships and personal fulfillment.
00:28:19 - Pre-Retirement Planning Guide
Fritz recommends his ultimate pre-retirement planning guide as a resource for listeners, providing a comprehensive checklist and articles for a smooth transition into retirement.