THIS Phenomenon Explains (Most) Retirement Unhappiness

Рет қаралды 10,511

Күн бұрын

Does your retirement plan give you confidence and peace of mind? Or do you feel it's lacking? Do you feel like you are jumping into retirement, hoping things work out? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you gain confidence in retirement and your future. Call us at (920) 544-0576 or go to www.safeguardinvest.com/contact.
0:00 Retirement Isn't Just About the Numbers...
0:30 The "Blue Dot" Effect: 2018 Harvard Study
2:31 Implications of this Study
3:51 Different Problems, Same Weight
5:06 Two Common States Retirees Live In
7:45 The Massive Cost of Pessimism
10:13 Two Steps to a Happier Retirement
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Пікірлер: 47

@ndiandy 28 күн бұрын

This video hits the "nail on the head" when it comes to the psychology of not comparing your success to others. My wife and I have met all our major financial milestones/goals that we didn't expect to hit until right before our intended retirement, which is still four years away. She is still comparing us to co-workers that have bigger houses, fancier cars, etc, and all can do is remind her that we have met our goals, and those co-workers (much younger with small children and mountains of DEBT, may never get to where we are.

@johnbrown1851 28 күн бұрын

Just remind her that they have younger wives too!😂

@joycewright5386 16 күн бұрын

My husband constantly has to tell me that there is wealth and there is the appearance of wealth.

@Jacq892 28 күн бұрын

Wealth is a state of mind. If I don't worry then my body doesn't release the bad hormones that will in fact cause your demise. So part of my long life plan is to chase those thoughts away. I'm lucky I have all I need. Sadly others do not.

@andywang4495 28 күн бұрын

Great video! Comparing self to others is the best way to create head trash

@kevinailes4374 22 күн бұрын

I really enjoyed this one. So much so, that I played it again for my wife and son. My son remarked that being creatures looking for a problem to solve led us to eventually farming so we wouldn’t starve. It is a wonderful innate trait, but, as you mentioned, it does have its downside. You really spoke to our situation- at first it was chasing a million. Then it because about essential retirement needs. Now we sit with nearly all discretionary retirement needs and we begin to think about legacy and tax planning and I find myself almost as concerned about this phase as saving and planning for the essentials. I appreciate the candor in that - if we can’t enjoy the moment, then what are we even doing. My son also says that we tend to judge ourselves against our mental version of our future self and that is an unattainable goal. We see what we aspire and we can’t ever actually catch it because the aspirations change. At any rate, I appreciated this one. I have trouble at times understand Irma and tax cliffs. They are appreciated, I just don’t fully get the math sometimes and I feel like I have a pretty head for that, but this was a good one because now that we have the financials down, I have some psychological work to do to be ready to retire. Thanks !

@tollermaus 28 күн бұрын

Great video. The psychological perspective rarely gets explored; but as an early retiree (55) who's about to return to work at 62, I realized wealth wasn't my issue. I found that spending money didn't counteract what I found to be too many empty days blending into a gray sameness.

@MattAlsaker 25 күн бұрын

Great discussion. I’m less than two years from retirement. I feel very comfortable with my financial plan including my conservative withdrawal strategy. However, I’ve watched my parents irrational financial fears paralyze them as they refuse to spend any money while talking about all these things they want to do (they are not getting any younger). The psychology of money is an important component of retirement.

@ld5714 28 күн бұрын

This is an excellent video and very relevant to a segment of your audience. I've been in the market for decades and learned long ago it goes up, down, stabilizes and continues on it's onward and upward march. I don't over react, pullbacks are disguised opportunities. I learned many years ago that comparison is the thief of satisfaction and joy. I have learned to effectively resist the hedonic treadmill and mitigate it's effect through reflection, acceptance and reevaluate as necessary. I have a lot of satisfaction in my retirement; I am able to do the things I planned for and desire to do. Especially satisfying and joyful for me is helping and gifting within the family. In my view, it's important to be able to give when it is needed and will make a difference now, when I can see it. It makes less sense to simply leave it to my heirs when it will possibly mean less as they will be in a better position by then. The opportunity to be able to help and plan when I can see the impact provides a lot of joy and satisfaction, making it all worthwhile. Larry, Central Valley, Ca.

@erickarnell 28 күн бұрын

If you haven't read it, Michael Easter's "The Comfort Crisis" (2021) explores the hedonic treadmill idea and goes over various ways we can overcome it. It's also engaging and well-written.

@Sylvan_dB 28 күн бұрын

Great video! Thanks for the positive outlook/review and especially the scholarship explaining how we naturally calibrate. So many historical traditions teach us to practice gratitude, and here we find the same lesson from modern scholarship.

@barbiec4312 28 күн бұрын

All good points. Much appreciated. Thank you. Love all of the charts and graphics you use.

@Travlinmo 25 күн бұрын

Very good discussion and I hope you will reference this later. My method has always been to restrict my income through direct deposits not easily accessed keeping my taken home, today, below 65k with bonuses and periodic OT. Doing this sets my retirement target reasonable well but I do see the hedonic nature when I review my net worth and wonder about those around me.

@bobbert1945 28 күн бұрын

Such a good video. Practicing gratitude is such a simple but profound action.

@evilgiraffe 28 күн бұрын

I absolutely loved this style of video. It stopped me in my tracks and gave me pause. Truly useful. Thank you.

@kevinmccumber7489 28 күн бұрын

Good video! I enjoyed it. Peace of mind is priceless.

@normanbasham4436 24 күн бұрын

Great video, thank you!

@jan3195 28 күн бұрын

Excellent video, Eric! Thank you!

@njlifeandhealth 26 күн бұрын

One of the biggest things our clients say they miss is the socialization of work. We take for granted how much we need people in our lives. If you go from 8-10 hours of social time at work to nothing, it can really affect your psyche in a negative way.

@cduff4505 23 күн бұрын

Great topic, very helpful!

@magalig9026 28 күн бұрын

I enjoyed this video, Eric. Thank you for this perspective.

@Emhancam 26 күн бұрын

It's like you wrote this video for me. More like this please.

@michaelratchford9508 28 күн бұрын

Good video. It is so important to view one’s life with gratitude and not stress over the fact we don’t have more. I,like most people,need to keep hearing this

@cpad007 28 күн бұрын

Well hopefully you (SWM) can take me on as a client and help create a plan where all those concerns are minimized. After that, I will happily while away my golden years in my (wood/metal/car) shop that I hope to build along with my retirement home from the equity/sale of my existing home! I don't think one should truly "retire"...you simply move on from your paid career into doing something else. Keep your mind going, keep your mind thinking, keep physically moving.

@RDM1776 27 күн бұрын

Thanks for a great video, Eric. Really speaks to the “why” of financial planning and trying to stop the goalposts from continually moving.

@StevenSmith-co5tz 28 күн бұрын

Great video. Loved it.

@rtbull11 24 күн бұрын

One of your best videos ever!!

@thomasedwards629 27 күн бұрын

Excellent. Cost of pessimism is possibly a bigger risk than running out of $$.

@nr5384 27 күн бұрын

Excellent video

@joekuhnlovesretirement 28 күн бұрын

Great concept and linkage to retirement. I’ve been retired 5 years.

@chessdad182 28 күн бұрын

It is really comical how people are so stressed about current life. I can remember growing up with one bathroom in a home with nine children. LOL. And a rotary dial phone on the wall. I could go on for a long time. So when I see KZfaq videos with people yelling about how bad things are, I just remember the old days.

@tomz9692 28 күн бұрын

Great video, it shows you how mindfulness may be more critical than your $$ to your health

@user-qr4tt6yk1z 28 күн бұрын

Love it!

@fialee8ca132 28 күн бұрын

A very good common sense video. Coveting something we don't have is hardwired in.human DNA, but as you point out, the things we covet are luxuries... vs a 110 years ago, it was finding food and clean water, and were still riding on wagons with horses.

@sallyprzybil2404 28 күн бұрын

Interesting. I’m retired, not a millionaire, but my fixed income covers my basic living expenses, yes, I do budget, but I have a beautiful place to live, am near free and reasonably priced entertainment, have many hobbies ( that I can afford), my health is ok (but not perfect), I have purpose in life, and people that love me and that I love. And I am content with that. Yes, there are people that have a lot more money than I do, but I’m having a lovely retirement as it is. My glass is not half full nor half empty, it is overflowing.

@nekoDan 28 күн бұрын

Great video. I don’t even think the concepts are optimistic. Just realistic. The Hedonic Treadmill was a a tough one to get off of!

@SafeguardWealthManagement 25 күн бұрын

Totally agree. Realism looks closer to optimism than pessimism

@johnnyretires 28 күн бұрын

A man with simple pleasures is a rich man. (Or woman)

@hoytoy100 28 күн бұрын

Absolutely correct. I just watched 45 rant for 90 minutes about how bad the country is, and it is just not true, but the simple minds lap it up.

@hm51008 28 күн бұрын

Cut back on as much media as you possibly can. It will help with overall satisfaction in the long run.

@coevers1962 28 күн бұрын

The un examined life is not worth living- Socrates

@alm-78 28 күн бұрын

Typically, I love your videos…Not sure I like this video focus… e.g., do you also notice your clients physical health, habits, social and religious areas of engagement, family life… I really enjoy your financially oriented videos….I’d stick to that area of your expertise.

@larryjones9773 28 күн бұрын

Financial planning/advising is more than just numbers. It's largely psychology, as well. I think Eric should continue providing advice on both the numbers and psychology. Ignoring one could lead to catastrophic outcomes. I have family and friends who have made catastrophic financial decisions because they couldn't cope with market volatility (for example). Studies have proven that the human brain is flawed: we get twice as upset when we lose a dollar, compared to how we feel when finding a dollar. If we're aware of this flaw, we can try to adjust our emotions, and therefore make better financial decisions.

@chris_harvey 28 күн бұрын

You clicked on the title. If you wanted just financial number stuff, why click on it?

@alm-78 28 күн бұрын

@@larryjones9773 agree with your observation… financial and emotional health are linked… and dealing with the stresses (market ups and downs) can certainly impact decision making… I’m just not sure he’s equipped to also handle an area with a body of knowledge far beyond his primary expertise in the financial realm… the problem I see with so many KZfaq “experts” is they like to move into areas of interest they are not qualified to review…e.g. the Harvard study referenced is one of thousands of studies in “happiness” and the psychology of human behavior…imho