Slow-Go Phase of Retirement Planning: Key Insights from Robert Powell and Dana Anspach
Join host Robert Powell and Dana Anspach, CEO and founder of Sensible Money, as they explore the slow-go phase of retirement planning. This period, often beginning in your mid-70s, is characterized by a natural decrease in energy—but it’s also a critical time for proactive financial and lifestyle preparation.
Understanding the Slow-Go Phase
Learn why this stage isn’t defined by a specific age and how it can vary greatly from person to person—from those in their late 60s to individuals like Warren Buffett, who at age 94 is “finally feeling his age.” This phase is distinct from the “no-go” years because you’re still largely able to manage your own life and decisions, even if your energy levels aren’t what they once were.
Essential Planning and Documentation
Discover the crucial legal and financial documents to revisit, including wills, trusts, and durable powers of attorney. Dana highlights the importance of having a “trusted contact” on file with financial institutions and using a “grab and go” binder or a “NOC Box” (Next of Kin Box) to keep all essential documents in one accessible place.
Adapting Your Lifestyle
Hear about common lifestyle changes during this phase, such as shifting from long-distance travel to staying in one place or downsizing from two homes to one. The discussion also covers how spending habits evolve and how you can use your finances to outsource tasks like cleaning and yard work to reduce risk and maintain your well-being.
Coping with Change
Get advice on handling the emotional and logistical challenges of the slow-go phase, including the loss of a spouse and finding new purpose through community involvement, volunteer work, or other meaningful activities.
Planning for the Future
Understand the early signs of cognitive decline, which often appear in financial management, and learn how to prepare for the no-go phase before it’s too late.
Whether you’re entering this stage yourself or helping a loved one, this conversation offers actionable guidance to navigate the slow-go phase of retirement planning with confidence and peace of mind.