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In this thought-provoking episode of Money & You, host Michelle Perkins is joined by Dr. Gregg Lunceford, PhD, Managing Director and Wealth Advisor at Mesirow Wealth Management, to
reframe how we think about retirement. Rather than seeing it as the end of something, Gregg encourages us to see it as the beginning of a new phase—which he calls “The Third Age.”
Drawing from over 30 years of experience in financial services and his PhD research on retirement, Gregg shares powerful insights on the emotional, psychological, and historical roots of retirement and how our money mindset shapes our decisions.
From outdated cultural expectations to personal identity shifts, this conversation will help you rethink retirement as a time of potential, freedom, and self-actualization—if you’re willing to plan with both your head and your heart.
Key Takeaways:
– Retirement is no longer just an economic decision; it involves emotional and psychological factors to ensure a fulfilling experience.
– Many individuals enter retirement feeling unprepared and anxious due to a lack of understanding of their financial situation.
– The Concept of the “Third Age”
– Understanding personal money values and experiences can help individuals navigate retirement with confidence.
– There are diverse paths available in retirement, and exploring these options can lead to greater satisfaction and financial success.
– Financial literacy is essential; seeking help from financial advisors can empower individuals to make informed decisions.
Highlight Timestamps:
- 00:00 – The origins of retirement and why the traditional concept no longer fits
- 06:10 – How Gregg’s PhD research uncovered emotional blind spots in retirement planning
- 12:15 – Why hitting your “retirement number” doesn’t always bring peace of mind
- 19:40 – Introducing “The Third Age”—a 20–30 year life bonus and how to design it
- 25:35 – Why fear and outdated expectations sabotage retirement decisions
- 33:50 – Work’s non-financial rewards: purpose, structure, socialization
- 43:00 – Why today’s retirees are beginning to resemble professional athletes
- 49:45 – Empowering retirement options: side hustles, consulting, volunteering
- 55:20 – How to build a “shared vision” with your partner around retirement
- 01:03:30 – Why retirement planning is a career decision and needs coaching
- 01:11:00 – Financial literacy myths and how shame prevents progress
- 01:19:40 – Getting started: the first steps to emotionally and financially prepare
About Dr. Gregg Lunceford:
Greg is a PhD holder from Case Western Reserve University and a Certified Financial Planner™ professional. His work emphasizes integrating behavioral finance and emotional awareness into wealth planning. He’s the author of Exit From Work and a frequent speaker on WGN Radio’s Your Money Matters. Learn more at mesirow.com.
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