In today’s episode of Framework, Jamie talks with Robert Powell. Robert, sometimes known as ‘Mr. Retirement’, is a financial writer who is currently running Retirement Daily at The Street.

Over the years, Robert has written for many publications about retirement as well as about financial planning and advising as a profession. Out of college, Robert went to work in the pharmaceutical industry, and while it was financially rewarding, it wasn’t intellectually appealing to him. He found himself working with a brokerage and gave it an honest go for two years.

Realizing he wasn’t much of a salesman, he turned his attention to writing about the markets he loved so much and began working up the journalism ladder. He learned a lot about publishing and money and eventually developed and founded what is now the Boston University Online CFP program.

He eventually found his way back to publishing and writing with various financial publications and started writing exclusively about retirement. He also has a deep passion for bringing financial literacy to the masses and wants to make sure everyone has the information they need to take control of their retirement.

Robert talks with Jamie about the lessons he learned throughout his career, why he believes financial planning should become a true profession, and why sometimes it takes a few false starts to figure out where you want to go with your career. He also talks about his newest hobby and why it reminds him of his childhood.

(30:19) “I think it would be great if the high water mark was that it does become a profession. That we have a place where the advice is available to everyone. It’s not driven by assets under management. We need to truly make it a profession and make it accessible to everyone. ~ @RJPIII

Main Takeaways

  • Goal-based planning is better than beating the market or an arbitrary ROI because you’re helping your clients accomplish something meaningful.
  • Interacting with the media can be beneficial as long as you have something thoughtful and unique to say other than, “contribute to your 401(k).”
  • The future of the financial planning industry should be turning it into a profession that is accessible to everyone.

Links and Important Mentions

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