Retirement isn’t just about reaching a number or a specific age. It’s a significant life transition that requires preparation beyond financial planning.

How do you shift from a lifetime of saving to spending? How do you build new communities and find purpose when work becomes optional?

In this episode, Jamie Hopkins and Kate Duffy explore the concept of “practicing retirement” and how to prepare for this major life transition at every stage of life. They discuss the psychological challenges of spending down savings, the importance of aligning your values with your spending, and practical strategies like bucketing, visualization, and test-driving retirement lifestyle choices.

• Key takeaways:
• The psychological and behavioral challenges of transitioning from saving to spending in retirement
• The importance of retirement planning beyond finances, including identity shifts, community building, and lifestyle changes
• How to use bucketing and visualization techniques throughout your life to align spending with your values and goals
• Practical strategies for test-driving retirement
• The counterintuitive benefit of stopping retirement savings 2-3 years before retiring to improve quality of life and potentially stay in the workforce longer

Resources:

• Your Retirement Sketchbook by Jamie Hopkins & Bonnie Treichel
• How to Retire by Christine Benz
• Episode 1: Redefining Retirement with Christine Benz

Connect with Bryn Mawr Trust:

• 833-973-7633
• LinkedIn: Bryn Mawr Trust
• Website: Bryn Mawr Trust

Connect with Kate Duffy:

• LinkedIn: Kate Duffy

Connect with Jamie Hopkins:

• LinkedIn: Jamie Hopkins