Common misconceptions, assumptions, and behavioral biases often prevent people from building robust and flexible retirement plans—and this is an enormous problem. If you don’t know your decisions are based on false assumptions, how can you avoid making serious mistakes?
My guest on the podcast today describes himself as a ‘pracademic’ when it comes to the field of retirement planning. That’s ‘practical academic’.
Jamie Hopkins is a leading retirement planning expert in the US. He is a professor of taxation at the American College of Financial Services and the director of the New York Life Center for Retirement Income.
Jamie’s new book is called Rewirement: Rewiring The Way You Think About Retirement!.
The book is all about how to identify problems that might sabotage your savings while learning how to build and implement the retirement plan you need.
In our conversation today, we talk about how our money decision making is often coloured by personal experiences, some of the risks in retirement including the sequence of investment returns you face, and why being too conservative with your money in later life is often more dangerous than taking risks.
Here’s my conversation with Jamie Hopkins, author of Rewirement, in episode 433 of Informed Choice Radio.