The mistake you make planning for retirement like your parents did

Personal finance journalist Brian O'Connor discusses his recent New York Times article "You're About to Retire. What Are You Doing for the Next 20 or 30 Years?" and explores how retirement planning is pivoting from a focus on the numbers to an emphasis on the lifestyle you want, noting that too many people miss out by putting the math first. O'Connor discusses how and why financial planning has changed, noting that previous generations were so focused on taking over responsibility for their retirement savings as pensions were phased out that they didn't consider what retirement meant beyond having no active paycheck. Allison Hadley, an analyst at Digital Third Coast, discusses a survey she did for American Home Shield looking at cost-of-living concerns for homeowners, which found that nearly half are primarily "enjoying their mortgage" this summer, cutting back on travel and socializing to deal with rising costs for gas, groceries and electricity. More than half of the homeowners surveyed worry that inflation is ruining their summer. Plus, in The Book Interview, Jack Schwager discusses his recent addition to his long-running "Market Wizards" series, discussing "Market Wizards: The Next Generation: The World's Top Young Traders Reveal How They Beat The Market."