Guest: Dr. Ken Dychtwald, a psychologist, gerontologist, and best-selling author of 19 books on aging, including his latest, Radical Curiosity: One Man’s Search for Cosmic Magic and a Purposeful Life. Ken is also the Founder and CEO of Age Wave, an acclaimed think tank and consultancy focused on the social and business implications and opportunities of global aging and rising longevity.
In a Nutshell: In their youth, the baby boomer generation bucked just about every established social, political, and economic trend. So it’s no surprise that they’re rewriting the rules on retirement too by working longer, transitioning through multiple careers, and placing as much importance on purpose as they do on leisure. Combine this generational shift with advances in medicine and nutrition and it’s clear the next wave of retirees will need more than just money managers who can boost their return on investments — they need advisors who can help them improve their Return on Life.
On today’s show, Ken Dychtwald and I discuss the dynamics around generational change, the shift from a three-stage life to a multi-stage life, and the impact of our aging population on financial planning and society as a whole.
.Ken Dychtwald and I discuss:
- Stories from Ken’s days at the Esalen Institute and his experiences in the early days of the Human Potential Movement.
- The differences Ken sees between the retirees he worked with earlier in his career — many of whom were born at the turn of the last century — and retirees today who came of age in the 1960s.
- The Period Effect (the Great Depression, 9/11, COVID, etc.) versus the Cohort Effect (the Greatest Generation, boomers, millennials, etc.) versus the Life Cycle Effect (college age, married, retirees, etc.). See my podcast with Professor Bobby Duffy for more details on The Generation Myth.
- How aging boomers are creating new retirement role models that could shape how future generations view work and aging.
- Why purpose has become an increasingly important value for retirees.
- The need for more holistic, Life-Centered Financial Planning as life expectancy continues to rise.
- Why Ken believes we need to start thinking less about independence and more about interdependence.
- Addressing the psychological, emotional, and even physical feelings that people have about money.
- Ken’s answer to the question “How will you use your life?” at different stages of his life.
.Resources Related to This Episode
- Age Wave: Landmark Research & Consulting Many of Age Wave’s reports on aging and longevity are available for free on their website.
- The Arc of Life – Life, Death & Beyond – Huston Smith and Ken Dychtwald.
