Podcast Summary

Rotary Voices – "Personalize Your Retirement Plan"

Host: Jerome McDonnell (Rotary magazine)
Guest: Derek Kinney (Author, "Good Money Revolution")
Release Date: September 30, 2025

Episode Overview

This episode centers on how to create a personalized, purposeful, and financially secure retirement plan. Financial planner and long-time Rotarian Derek Kinney shares granular, actionable advice, weaving together financial strategies, emotional preparedness, and the role of meaning and philanthropy in retirement. The conversation guides listeners through budgeting, portfolio management, dealing with personal identity after work, preparing for unexpected life events like caregiving, and making a real difference through generosity—especially as related to Rotary values.

Key Discussion Points & Insights

1. Rethinking Retirement: Not Just About Stopping Work

• Retire "to" something, not just "from" something.
  • Retirement should be fulfilling and purpose-driven, not just idle time (00:11, 06:09).
  • “The goal is, I want to retire to something.” – Derek Kinney (00:11, 06:09)
  • Many traditional retirement images—like “sitting on a rocking chair”—are outdated. Modern retirees crave engagement and experiences.

2. The Practice Retirement Budget: A Test Run

• Try living on your intended retirement income (01:49).
  • Derek describes a method where pre-retirees deposit paychecks into a separate account and "pay themselves" their target retirement budget monthly, simulating life post-work (01:49–03:15).
  • Notable quote:
    “When you test it, it gives you confidence and the courage to make that bold decision to actually retire.” – Derek Kinney (03:06)

3. Portfolio Management for Longevity and Inflation

• Avoid becoming too conservative too soon (04:24–06:01).
  • The “100 minus your age” rule can lead to retirees running out of money.
  • Keep about half of the portfolio in growth equities (such as an S&P 500 index fund) and balance with bonds or real estate for income stability.
  • Suggested withdrawal rate of 3–3.5% per year to avoid depleting funds (04:24).

4. Emotional Transitions: Identity and Relationships

• Who are you after you retire? (08:07–10:12)
  • Retirement can bring a sense of lost status and identity.
  • “Once they retire, they begin to feel this sense of invisibility.” – Derek Kinney (08:43)
  • Consider phased retirement or consulting, teaching, or part-time work to maintain engagement and self-worth.

5. Purpose & Generosity: Philanthropy Amplifies Retirement

• Link your wealth to causes you believe in (10:39–15:24).
  • Derek shares stories of clients who found renewed motivation by tying business goals to philanthropic efforts.
  • “Until they combine meaning with their money and a cause with their cash and purpose to their profits, they feel like they're just walking along all by themselves.” – Derek Kinney (14:13)
  • No dollar amount is too small—Rotarians are well-placed to integrate giving into their family culture and find greater fulfillment (15:37).
  • “Find a way to participate... No dollar amount is too small.” – Derek Kinney (15:40)

6. What Makes a Well-Prepared Retiree?

• Emotional readiness is as important as finances (17:28–21:23).
  • Deeper conversations before retirement can reveal underlying relationship issues and force clarity on what you really want.
  • “The number one success factor in retirement: really getting clear on what you want.” – Derek Kinney (20:41)
  • Consider phased or “glide path” retirements for smoother adjustments.

7. Family, Caregiving, and Planning for the Unexpected

• Expect the unexpected, especially regarding aging parents and caregiving (21:23–23:55).
  • Caregiving can be a major, often overlooked, financial and emotional shock.
  • Have difficult conversations with loved ones early and consider long-term care insurance (22:27).

8. Navigating Economic Uncertainty

• Diversification and time horizon are crucial, not just timing (23:55–30:21).
  • The economy may be volatile, but history suggests cycles—prepare by holding 6–18 months’ living expenses in cash during downturns (26:59).
  • Segment investments by time horizon (“four lanes of investing”): cash, mid-term goals, long-term retirement, and a small “fun” allocation for more speculative investments (29:10).
  • “It's not just timing the market, but it's time in the market that ultimately pays the best dividends.” – Derek Kinney (29:26)

Notable Quotes & Memorable Moments

• On Retirement Mindset (00:11, 06:09):

  “People now sell the rocking chair on ebay. They want to go, they want to see, they want to do.”

• On Budgeting (03:06):

  “When you test it, it gives you confidence and the courage to make that bold decision to actually retire.” – Derek Kinney

• On Purpose (14:13):

  “Until they combine meaning with their money and a cause with their cash and purpose to their profits, they feel like they're just walking along all by themselves.” – Derek Kinney

• On Giving (15:40):

  “No dollar amount is too small. So many people think, well, I need to wait till I’ve got millions of dollars to make an impact. The problem is there’s a cost of impact that gets missed. So whatever you have available today, give that.”

• On Clarity (20:41):

  “Really getting clear on what you want… I just think that is just not right. And some planning can really help that and help solve that problem for many, many people.” – Derek Kinney

• On Investing (29:26):

  “It’s not just timing the market, but it’s time in the market that ultimately pays the best dividends.”

Timestamps for Key Segments

• Practice Retirement Budget: 01:37–04:08
• Portfolio Strategies: 04:08–06:01
• Retiring “to" Something: 06:01–08:07
• Identity & Emotional Transition: 08:07–10:12
• Generosity and Meaning: 10:12–15:24
• Role of Rotary Foundation/Philanthropy: 15:24–16:54
• Preparedness & Emotional Readiness: 17:28–21:23
• Caregiving Challenges: 21:23–23:55
• Coping with Market Volatility: 23:55–30:21

Conclusion

This episode delivers comprehensive and empathetic guidance on how to design a retirement that is not just financially secure, but also meaningful and engaging. Derek Kinney emphasizes practical strategies blended with Rotary’s spirit of service, urging listeners to test-run their retirement, embrace purposeful activity, cultivate generosity, and prepare for both the expected and the unforeseen. For Rotarians and anyone planning for retirement, the episode is an invaluable resource on building a fulfilling next chapter.