From The Desk of Carmen Grinkis

I recently returned from the Northern California Financial Planning Conference held in San Francisco. I participate in continuing education opportunities on a routine basis, and this trip was a special treat—known as one of the best in the country and attended by more than 1,000 planners across the U.S. This year’s conference focused heavily on the intersection of health and wealth.

The numbers associated with financial planning are crucial. Investments and asset allocation are the gas in the engine that supports lives, hopes, dreams, and challenges. But there is more to it. As advisors, we need to challenge ourselves to openly speak with our clients about their fears and concerns as they face these life changing transitions. Retirees face a change in identity, a change in social relationships, a change in mental stimulation, and perhaps psychological struggles around the loss of a paycheck. If not proactively addressed, retiring may become an unwell experience bringing anxiety and depression.

This conference reminded all the advisors to look beyond finances into deeper discussions around the impact of life transitions for families. As a psychologist, I’m inherently thinking about those aspects. I want my clients to not only have a solid financial plan but to also find time to continue learning, maintain relevancy, perform meaningful work, achieve successes, and build their legacy. Retirement is not just about leisure. You also need resources to care for your health and social well-being. Think about what you can do to make sure you’re physically in good shape for retirement, so you thoroughly enjoy that time. If work is your main social network before you retire, how might you expand that network in advance to ease the inevitable transition? In our discussions with clients, we’re not just talking about one piece of the pie. We’re considering how all of those pieces come together to help you retire well.

The conference felt validating because this is how I approach financial planning. It also felt celebratory because this was the first time in its history that all of their keynote speakers were women. That observation was only magnified by the fact that I had been in Orlando just prior to celebrate a wonderful achievement by our managing partner, Carla McCall, who was elected Chair of the American Institute of Certified Public Accountants (AICPA). It occurred to me, being a woman, that there are more women at these conferences and rising into positions of influence—which felt truly inspiring.

On a personal note, between conferences, Kitty and I had the pleasure of visiting the Redwood Forest and wine tastings in Sonoma. It was a beautiful 70 degrees, cool from the ocean, warm in the sun—and so much fun!

I encourage you to talk with me about all of these areas of your life and to explore what it means to you to retire well. This is particularly important if you’re already in retirement or faced with challenges. I want to help you plan not just from a financial perspective but also from a psychological one.

This in mind, I’m sharing the summer/winter 2024 In-Person and Online Course Catalog from the Osher Lifelong Learning Institute (OLLI) at UMass Boston. It includes educational, cultural, and social programs specifically for adult learners ages 50+. This catalog was shared with me by a client and is just one example of ways retirees may stay intellectually engaged and socially connected to ensure a well-rounded and fulfilling retirement.

As always, please reach out to me if you have comments or questions. And please share other ideas for retirement stimulation!

AAF Wealth Management is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where AAF Wealth Management and its representatives are properly licensed or exempt from licensure. This blog is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by AAF Wealth Management unless a client service agreement is in place.