How to Retire into a Dream Job: The Emotional Nature of Retirement | Ideas by Mike™ (Ep. 52)
In this latest episode of Ideas by Mike™, Dr. Ives Machiz, PhD, CFP®, a fee-only pioneer, shares lessons from 4 careers on retiring into purpose. Learn how coaching and financial education build self-sufficiency & reduce anxiety.
Join Ideas by Mike™ host Mike Milligan, CFP® & Dr. Ives Machiz, PhD, CFP®, a clinical assistant professor and financial planning pioneer, shares the wisdom gained from his extraordinary four-part career: founding a fee-only firm in the 1980s, teaching high school, navigating a family business exit, and earning a PhD.
They both tackled and discusses the emotional nature of retirement and business transitions, the core lessons of self-sufficiency from coaching basketball, the relationship between financial education and health, and the advisor’s critical role in building client trust to mitigate financial anxiety.
This episode offers essential retirement advice for pre-retirees seeking to leap from working to living a one-of-a-kind life.
Key Takeaways:
- Objective Advice Requires Total Alignment: True fiduciary planning centers entirely on the individual’s specific long-term goals rather than a high-pressure push for a specific item, commission, or asset product.
- Master the Fundamentals First: Successful retirement planning is built on basic, non-glamorous behaviors: consistent long-term saving, clear spending budgets, and maintaining discipline through fluctuating financial environments.
- Transitions Are Emotional First: Selling a business, leaving a job, or entering retirement forces individuals into an identity vacuum. You must establish a clear plan for your lifestyle and purpose before executing the final financial liquidation.
- The Inherent Value of a Third-Party Fiduciary: Much like medical professionals who refuse to treat their own families, everyday investors need neutral professionals to remove toxic emotion from highly personal wealth decisions.
About our Guest:
Dr. Ives Machiz, PhD, CFP® earned his doctorate in Personal Financial Planning from Kansas State University. He is currently a Clinical Assistant Professor in the personal Financial Planning program at Arizona State University. (Source link)
Connect with Dr. Ives on LinkedIn
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