Plan a Successful Retirement, retirement planning, Beau Henderson, The Retirement Resource,

The RichLife Glossary: Vocabulary You Need to Plan a Successful Retirement

In this episode, Beau is joined by Certified Coach Joe Schum to go over the concepts and vocabulary that you need to know when planning for a successful retirement, and that we will use in this show going forward.


Co-Active – A fundamental nature of a coaching relationship in which the coach and the client are active collaborators. This is a relationship; it’s an alliance between equals for the purpose of meeting you, the client’s, needs.

Co-Creative – This is a level above collaboration; co-creative relationships are truly We-centric, allowing us to ask questions and have conversations with each other where no answers are really known upfront. We listen to each other and connect to each other to find the best solution for everybody.

Functional Retirement Planning – Retirement planning that works in real life, or that works in your life. Too often, an individual’s retirement plan is just a series of numbers in an Excel spreadsheet, it doesn’t reflect what that person hopes to do in their retirement, and it has low compliance. We need to be realistic about the reality of the new retirement, we need to be personalized, and we need to be strategic if we want our plans to be functional.

The New Retirement – In the past, people only lived maybe a decade past retirement, two if they were lucky. Today, many of us will enjoy 20, 30, even 40 years of retirement. So the new retirement is longer, healthier, and more than an opportunity to party your last years away – it’s an opportunity to be You 2.0, and live a life that lights you up more than ever before. It’s important that we understand the new retirement paradigm because we also have to prepare more for it.

RichLife – Everyone’s definition of a rich life is personal; it’s getting clear on the life that absolutely lights you up. It’s your light, so you have to make it happen – but we’re here to help you get a better picture of what it looks like.

Strategy – Your retirement strategy goes beyond your retirement plan. It’s comprehensive, taking into account not just having enough income for retirement, but how that integrates with health care, pensions, social security, savings, etc. Too often, people are making these decisions in a vacuum, when they really need to be considered holistically.

Transition Planning – This is the often overlooked period between accumulation and distribution, where the crucial decisions are made that will impact the largest time period of your life. Essentially, this is the strategy phase.

True Wealth – When we think about wealth, we often think about net worth – but True Wealth is all of the assets that make up your definition of a rich life, including friends, family, relationships, experiences, and your health.

Download the 12 Steps to a Successful Retirement Checklist at


“The RichLife Glossary: Vocabulary You Need to Plan a Successful Retirement”


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About Beau Henderson

Beau Henderson is a financial advisor, author, coach, radio personality, and CEO of RichLife Advisors. He has helped over 3,000 clients to not just improve their relationship with money, but to live the life of their dreams.

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