Deeper Goals, and Retiring with Purpose | Rational Reminder 245

Goal-setting is essential for personal and professional growth, helping individuals clarify their priorities, stay focused, and achieve success. We are pleased to welcome guests Samantha Lamas and Danielle Labotka to help us unpack the topic of goal-setting and how it relates to finance. Samantha Lamas is a Senior Behavioural Researcher at Morningstar and a recipient of the Montgomery-Warschauer Award for her research in financial planning. Her work centres on investor engagement and the factors that influence an individual's decisions when it comes to investing and managing their finances. As a Behavioral Scientist at Morningstar, Danielle Labotka examines the impact of various cognitive and linguistic factors on investors’ financial decisions. Her research involves studying investors' behaviours, preferences, and attitudes in both everyday and financial planning situations. In our conversation with Samantha and Danielle, we gain insights into financial behaviour and decision-making, the biggest barriers to goal-setting, what deeper goals are, and how to focus on them. Then, we speak to Mark McGrath, who is licensed in insurance, holds several professional designations, including a Chartered Investment Manager and a Certified Financial Planner (CFP), and has more than a decade of experience in the industry. Mark tells us the emotional story about his dad, what motivated him to share his experience, and why you need to start thinking about retirement now. Finally, we review a past episode with Dennis Moseley Williams, a book from Will Storr, and go through feedback from the Rational Reminder community. Tune in now!
Content Warning: Some of the discussion in this episode is about suicide. If you or someone you know is struggling with thoughts about self-harm, help is available. In Canada: 1.833.456.4566 or at suicideprevention.ca/resources/
Timestamps:
0:00 Intro
02:30 Main Topic: Morningstar Goals Discussion
06:55 Special Guests Danielle Labotka & Samantha Lamas
25:00 Special Guest Mark McGrath
53:21 Episode 85: 60 Seconds
56:22 Book Review: The Status Game: On Human Life and How To Play It
1:05:59 Aftershow
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Book From Today’s Episode:
The Status Game: On Human Life and How to Play It - amzn.to/40vVLix
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Samantha Lamas on LinkedIn - / slamas
Mark McGrath on LinkedIn - / markmcgrathcfp
'Mining for Goals' - static.fmgsuite.com/media/docu...

[@rationalreminder]

Content Warning: Some of the discussion in this episode is about suicide. If you or someone you know is struggling with thoughts about self-harm, help is available. In Canada: 1.833.456.4566 or at suicideprevention.ca/resources/

[@thomas6502]

What a devastating story, but I'm so appreciative to have heard it. Thank you Mark, and Ben and Cameron for sharing.
Also, a lighter aside: I was the 42 like... which reminded me that we are all just hitchhiking through the galaxy looking for the answers, and the questions which matter. Grateful to be a part of your listenership and looking forward to more wisdom from you and the collective. Cheers.

[@pavlosaikevych]

Mark's Father story is heartbreaking, and I'm thinking about it a lot. I'm grateful that he shared it

[@BreakingBadDebt]

Great data presented in this episode! Really powerful story at the end, I know lots of physicians who retire but go back to practice because they don't know what else to do when so much of your life has been consumed by work. It's always great to invest time in your hobbies, family, and health throughout your life - all of which will pay off in retirement.

[@AnhNguyen-bi6vg]

Very interesting topics! Thank you Both!

[@Danibellebot]

Great podcast I ❤ fake boudicas who know about goals!

[@Perfectly_Adequate]

I thoroughly enjoyed the episode, and I know this would rarely be an issue for this podcast, but it would have been wise to issue a content warning at the beginning of the podcast or before Mark's segment. I could see some people being blindsided by that and having a bad time.

[@gmh953]

For the record, I am very frugal, except I love my luxury SUV and I love living in a luxury apartment. And I don't regret it.