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An Afternoon on Un-Retirement

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Presenters: Chris Farrell, Susan Zimmerman, Jonathan Guyton
Hour I: Unretirement - How Baby Boomers Are Changing the Way We Think About Work, Community, and the Good Life
Presenter: Chris Farrell

We are on the verge of a broad, positive transformation of our economy and society. The old idea of “retirement” is gone and the boomer generation, poised to live longer in better health than any before, is already discovering “un-retirement” through extended work, new careers, entrepreneurial ventures, and volunteer service with more satisfaction and personal well-being. When done right, their experience, wisdom, and importantly, their continued earnings, will benefit the American workplace, dramatically ease financial worries, and enrich communities and our whole society for decades to come.

Chris Farrell provides key insights and practical advice about how financial planners can help their clients navigate this exciting, but unsettled, new frontier. This includes changes that affect funding for retirement, withdrawals during retirement, where their clients live and how they live. Drawing on his decades of award winning coverage of personal finance and economics for Bloomberg Businessweek, Marketplace Money, Next Avenue and the Minneapolis Star Tribune, this will be an indispensable guide for planners to the landscape of “un-retirement.”


Learning Objectives
By the end of the session, attendees will:

  • Know the main factors behind the movement to rethink the last third of life from retirement to un-retirement
  • Learn about the kind of work and flexible schedules aging boomers are eager to embrace
  • Better understand the implications of un-retirement for financial planning

Unretirement - A New Reality - The Changes Coming in Retirement Income and Life Planning and How That Affects our Clients’ Plans
Panel: Chris Farrell, Jonathan Guyton, CFP® and Susan Zimmerman, LMFT ChFC CLU

Drawing on their diverse planning and consulting backgrounds, the panel members will discuss the coming changes as those in the workforce extend their work beyond what is thought to be the normal retirement age. How those changes will affect the plans and planning for everyone from the last of the baby boomers to millennials. What this will mean for employees, employers and entrepreneurs especially when it comes to retirement plans. How this phenomenon will likely affect social security funding and planning on both a micro and macro basis and life planning for many if not most families.
Learning Objectives
By the end of the session, attendees will:

  • Understand the nature of the changes coming that will likely extend the normal retirement age.
  • Understand the changes necessary for retirement income to meet the challenges of the extension of the normal retirement age.
  • Understand how extending the normal retirement age will affect and change life and other aspects of financial planning.
Chris Farrell - Minnesota Public Radio

Chris Farrell
Minnesota Public Radio
Chris Farrell is senior economics contributor at Marketplace, American Public Media’s nationally syndicated public radio business and economic programs. He is economics commentator for Minnesota Public Radio. An award winning journalist, Chris is a columnist for Bloomberg Businessweek, Next Avenue and the Minneapolis Star Tribune. He has written for a number of other media outlets. The author of several books, his latest is Unretirement: How Baby Boomers are Changing the Way We Think About Work, Community and the Good Life.
Jonathan Guyton, CFP® - Principal, Cornerstone Wealth Advisors, Inc.

Jonathan Guyton, CFP®
Principal, Cornerstone Wealth Advisors, Inc.
 Jonathan Guyton, CFP® is Principal of Cornerstone Wealth Advisors, Inc., a holistic financial planning and wealth management firm in Minneapolis that serves more than 220 families residing in over 25 states and countries. His specialties include retirement income planning and investment management with an emphasis on strategic advice, asset distribution and income tax planning.Jonathan is a thought leader in the financial advisory world and has served on the National Board of Directors of the Financial Planning Association. He is currently retirement columnist for the Journal of Financial Planning and an ‘Expert Panelist on Retirement’ for the Wall Street Journal. He also serves as a Dean in the FPA Residency program.

Jonathan is best known for his pioneering research and writings that demonstrated the increases in sustainable withdrawal amounts that come from adding specific, policy-based adjustment triggers to retirement income strategies. This work first appeared as “Decision Rules and Portfolio Management for Retirees: Is the ‘Safe’ Initial Withdrawal Rate Too Safe?,” published in the October 2004 Journal of Financial Planning and winner of its Call For Papers competition that year. He supplemented this work by co-authoring “Decision Rules and Maximum Initial Withdrawal Rates” with computer scientist William Klinger in its March 2006 issue. These distribution policies are widely utilized by financial planners in serving their clients.

Jonathan speaks regularly on his work at national and local conferences as well as to advisors at various national financial services firms, and his comments on these and other topics frequently appear in numerous national consumer and professional publications. In 2007, his peers named him to be a “Mover and Shaker” for Financial Planning magazine and in 2013 as one of “15 Transformational Advisors” for Investment News.
Susan Zimmerman, LMFT ChFC CLU - Mindful Asset Programs

Susan Zimmerman, LMFT ChFC CLU
Mindful Asset Programs
 Susan Zimmerman, ChFC, CLU is also a Licensed Marriage & Family Therapist (LMFT) and Certified Clinical Trauma Professional (CCTP). She co-founded Mindful Asset Planning, a fee-only RIA firm, with Steven Zimmerman in 1988. She began researching the emotional component of financial decision making 20 years ago to discover if certain communication methods could help clients gain self awareness non-defensively to improve financial decisions. Susan found that specific therapeutic approaches to financial conversations could be effectively integrated into all phases of the financial planning process. It strengthens trust between client and adviser, leading to higher planning implementations and ongoing progress.

Currently in her role as communications consultant, Susan is known for her pragmatic training programs that help financial practitioners use candid language therapeutically as needed. She’s frequently interviewed in television and print media, including Investment News, MONEY, The Wall Street Journal, Ticker, Smart Money, Chicago Tribune, LA Times, and the Minneapolis Star Tribune. Susan currently serves on the Financial Therapy Association board and has served on the boards of the Minnesota FPA and the National Speakers Association-MN.

Susan’s new book in 2014, Mindful Money for Wealth and Well-Being: Help Clients Strike a Balance in Financial Planning was listed as #1 must read book for advisers by Investment News. It provides methodologies from the psychology world tailored for financial planning discussions. Susan speaks to financial practitioners on how to use therapeutic language practices, especially with touchy subjects during financial planning meetings. She calls this “the hard part of soft skills” because traditional training has focused primarily on technical analysis. Her language tips from the psychology world help advisers gain increased comfort and effectiveness when needed for client progress.

Her research and assessment on motivational patterns in personal finance was nominated for an EIFLE Award (Excellence in Financial Literacy Education). It scores the primary money motives that drive individuals’ attitudes and actions. Having a structure to introduce financial psychology and relay findings with clients saves time and eases the discomfort of unfamiliarity for both client and advisor. Advisers report improved persuasive communication skills that help increase revenues, relationship cooperation, and energetic leadership.