HerMoney with Jean Chatzky Episode: Your Money Map Replay: How Midlife Can Be Your Most Meaningful Chapter
Host: Jean Chatzky
Guest: Chip Conley, Entrepreneur, Bestselling Author, Founder of the Modern Elder Academy
Release Date: July 25, 2025

Introduction

In this empowering episode of HerMoney, Jean Chatzky delves into the transformative journey of midlife with special guest Chip Conley. As the founder of the Modern Elder Academy (MEA) and a seasoned entrepreneur, Chip offers valuable insights into redefining aging, finding purpose, and navigating the unique financial challenges faced during midlife.

Chip Conley's Journey and the Birth of Modern Elder Academy

Background and Career Evolution
Chip Conley shares his diverse career trajectory, emphasizing how his experiences in hospitality, wellness, and education have culminated in his current role at MEA.

"When I look at what I'm doing today... it's a combination of hospitality, a retreat center environment, wellness, and midlife education." (03:22)

Founding the Modern Elder Academy
Triggered by a near-death experience (NDE) at age 47 and the loss of five male friends to suicide during the Great Recession, Conley recognized the scarcity of resources addressing midlife challenges. This realization led to the creation of MEA, a retreat center dedicated to helping individuals navigate midlife transitions, cultivate purpose, and embrace aging.

"We need to have this midlife pit stop and create a retreat center dedicated with a curriculum to helping people navigate their transitions of midlife." (07:14)

Defining the Modern Elder

Understanding the Term "Modern Elder"
Conley explains that the term "modern elder" transcends age, focusing instead on one's role and environment. A modern elder is someone who is as curious as they are wise, continuously learning and teaching simultaneously.

"A modern elder is not about just like, dispensing wisdom. A modern elder is as curious as they are wise." (07:27)

Earning the Title
It's not solely about age but about the balance of experience and curiosity. Conley cites examples like Tom Brady and seasoned software engineers to illustrate how modern elders contribute uniquely within their fields.

Midlife: Crisis or Chrysalis?

The U-Curve of Happiness
Conley discusses the concept of the U-curve of happiness, highlighting that while adult satisfaction hits a low point around ages 45 to 50, it subsequently rises with each passing decade.

"The bottom line is, yes, midlife can be a crisis... So in some ways, the way you could look at it is... we're going to go through the chrysalis." (09:36)

Chrysalis as Transformation
Drawing parallels to the chrysalis stage in a butterfly's life, Conley portrays midlife as a period of transformation. Though challenging, it offers the potential for greater happiness and personal growth.

"The message is basically this, you're going to go through a challenging time... but on the other side of this, things are going to get better." (09:36)

Navigating Midlife Transitions with Optimism

Social Support as a Pillar
Conley emphasizes the critical role of social support in overcoming midlife challenges, particularly for men who may struggle with vulnerability.

"Social support's the most important thing you've got. And I would highly recommend this to men in particular." (13:08)

Stages of Transition
He breaks down transitions into three stages: ending something, the messy middle, and beginning anew. Ritualizing endings and maintaining hope during the messy middle are essential for positive transformation.

"The most important thing to do when you're ending something is to ritualize it in a way that allows you to move on." (16:30)

Reframing Aging to Address Financial Anxieties

Understanding the Psychology of Money in Midlife
Conley discusses how our relationship with money evolves during midlife and retirement, advocating for a conscious approach to financial planning that aligns with personal values and purposes.

"Understand whether you are living the script your parents gave you or that your community gave you." (17:14)

Strategies for Financial Stability
Conley suggests practical approaches such as becoming an expat to reduce living costs, embracing a portfolio career, and leveraging platforms like Airbnb for additional income streams.

"Combining what you love with something that can make you some money is a way to move into retirement in a new way." (19:56)

Longevity and the Evolving Concept of Retirement

Longevity Literacy
Conley highlights the importance of understanding modern longevity trends, noting that people are living longer and healthier lives than previous generations.

"Once you've gotten to 65 as an American male, you're likely to live to 82. So instead of dying in 11 years, you die in 17 years." (22:32)

Shifting Retirement Paradigms
He challenges the traditional notion of retirement, advocating for continued engagement in meaningful work and embracing longer, more active careers.

"People have a much more active point of view about what it means to be in their 60s, 70s and 80s today compared to my parents' generation." (24:53)

Economic Demographics
Conley touches on the demographic shifts necessitating longer workforce participation, emphasizing the need for intergenerational collaboration and reducing ageism in the workplace.

"By the year 2027, the U.S. department of labor says the majority of Americans will have a younger boss." (07:27)

Advice for Those in Their 50s Facing Uncertainty

Three Key Pieces of Advice
As the conversation concludes, Conley offers actionable advice for individuals navigating midlife transitions:

1. Conscious Money Script

   • "Get conscious about your money script. Understand whether you are living the script your parents gave you or that your community gave you." (28:04)

2. Purpose Beyond Career

   • "Do know that retirement accelerates mortality by two years. Having some level of purpose associated with how you're living your life is really important." (28:04)

3. Prioritizing Experiences Over Materialism

   • "Look at the idea that experiences are more important than material things." (28:04)

Embracing New Lifestyles
Conley encourages embracing new lifestyles that prioritize financial freedom and personal fulfillment, such as downsizing or relocating to cost-effective regions like Baja, Mexico.

"Don't think that your default lifestyle you've had is necessarily the lifestyle you have to have moving forward." (28:04)

Conclusion and Resources

Jean Chatzky wraps up the episode by directing listeners to additional resources for further support:

• Modern Elder Academy Resources:
  Visit meawisdom.com for online programs, weekly podcasts, and daily blogs.

• Alliance for Lifetime Income:
  Explore tools and information at protectedincome.org and subscribe to their newsletter.

• HerMoney Programs:

  • Finance Fix: A four-week coaching program for smarter spending and savings.
  • Pre-Retirement Program: A six-week strategy-building course for personalized retirement planning.
  • Investing Fix: A bi-weekly Zoom investing club for women to build confidence and portfolios.

"These programs are truly helping level the playing field for women financially." (31:03)

Notable Quotes with Timestamps

• Chip Conley on Connecting the Dots:
  "It's much easier to connect the dots moving backwards than forwards." (03:22)

• Modern Elder Definition:
  "A modern elder is as curious as they are wise. They are learning as much as they're teaching." (07:27)

• Midlife as a Chrysalis:
  "Midlife can be a crisis... but on the other side of this, things are going to get better." (09:36)

• Social Support Importance:
  "Social support's the most important thing you've got." (13:08)

• Longevity Insights:
  "Once you've gotten to 65 as an American male, you're likely to live to 82." (22:32)

• Advice on Money Scripts:
  "Get conscious about your money script." (28:04)

Final Thoughts

This episode provides a comprehensive exploration of midlife as a period of profound transformation and opportunity. Chip Conley's insights offer listeners actionable strategies to embrace aging, find purpose, and secure financial well-being during one of life's most meaningful chapters.