Wealth Beyond Riches: Building Prosperity With Purpose, Values, and Impact

Is Where You Live Still Supporting the Life You Want? with Ryan Frederick (Ep. 38)

• Abbey Henderson, CFP®

Share episode

Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.

0:00 | 33:21

What if one of the biggest decisions shaping your future is something you rarely think of as “planning” at all?

In this episode, Abbey Henderson, CFP®, CEO, Wealth Advisor & Coach, sits down with Ryan Frederick, author of Right Place, Right Time and founder of HERE, to explore how where you live shapes your health, lifestyle, and overall quality of life.

Abbey and Ryan discuss: 

  • What “place planning” means, and why it goes beyond real estate decisions
  • How your environment influences your health, habits, and longevity
  • The connection between where you live and your relationships, community, and support system
  • Why the idea of a “forever home” may not hold up
  • How rising costs, lifestyle changes, and unexpected life transitions can shift what the “right place” looks like
  • Why many people say they want to age in place, but few plan for what that actually requires
  • How to start thinking more intentionally about where you live at every stage of life
  • And more!

Resources:

Connect with Abbey Henderson: 

Connect with Ryan Frederick: 

About Our Guest:

Ryan Frederick is the #1 expert in the world on Place Planning -- the leading authority on how place, environment, and where you live shape quality of life, health, and longevity.‍

Ryan Frederick is an internationally recognized thought leader, speaker, and innovator specializing in the intersection of place and healthy longevity, with nearly 20 years in the field. He has worked with organizations ranging from Fortune 500 companies to global institutional investors to leading health systems to housing developers and operators.

Ryan’s work has been cited in numerous outlets, including CBS News, Washington Post, Forbes, and many other media outlets. He is on the Advisory Council for the Stanford Center on Longevity. He is a graduate of Princeton University and Stanford Business School.

[00:00:00] Intro: Welcome to Wealth Beyond Riches with Abbey Henderson, CEO Wealth advisor and coach at Aris Financial Group. In this podcast, we help generous, fun, and passionate professionals overcome their biggest financial concerns while leveling up their lifestyles based on their values. We do this by exploring the five levers, which represent the diverse resources each person possesses throughout their lifetime.

These levers encompass finances. Health, mindset, relationships, and time offering a holistic approach to personal development and growth. Join us on this transformative journey as Abbey and her guests draw from years of experience to guide you in achieving your life goals while staying true to your values.

But that's not all. This podcast will equip you not just to build personal wealth, but also to understand how your prosperity can contribute to the betterment of the world around you. By exploring strategies for giving back and making a positive impact, [00:01:00] we'll empower you to create a life of significance and leave a lasting legacy of positive change.

[00:01:08] Wendy McConnell: Hello and welcome to the Wealth Beyond Riches Podcast with your host. Abbey Henderson, where we talk about enriching your life in every way. I'm your producer, Wendy McConnell. Well, hello Abbey.

[00:01:20] Abbey Henderson: Hello, Wendy. It's been a

[00:01:22] Wendy McConnell: while. Seems like it's been a minute.

[00:01:26] Abbey Henderson: Well, I'm thrilled to see you and I'm happy to be back.

[00:01:28] Wendy McConnell: Yay. We're also happy that you're back. Yay. Uh, I hope you were doing something wonderful and fabulous in your time off from podcast.

[00:01:36] Abbey Henderson: Well, it was, it, what was it? Uh, it was the winter.

[00:01:39] Wendy McConnell: Yes.

[00:01:40] Abbey Henderson: Uh, it was mostly work, but that's okay. 'cause I love my work so.

[00:01:45] Wendy McConnell: Well that sounds like winter is a nice time to get to get away for a hot vacation, but that didn't happen.

I guess

[00:01:52] Abbey Henderson: that did not happen

[00:01:54] Wendy McConnell: next winter.

[00:01:54] Abbey Henderson: Yeah, maybe. Well, you know, it's the dog thing. They can be a little hard to leave.

[00:01:58] Wendy McConnell: Yeah, I know that. Yeah,

[00:01:59] Abbey Henderson: [00:02:00] I know you do.

[00:02:01] Ryan Frederick: Yeah.

[00:02:02] Wendy McConnell: Abbey. So we have a guest today who's looking at us like we're crazy. He's like, are they ever gonna talk about me or what? So go ahead and introduce the guest.

[00:02:11] Abbey Henderson: So I'm so excited because there is, if there is one topic that covers all of the five levers that we, uh, focus on at aris, so health, finances, relationships, time and mindset. It is placed planning and we have the expert. On this topic, Ryan Frederick Ryan, it's so good to see you.

[00:02:33] Ryan Frederick: Yeah, great to be here. I, you know, Abbey, it sounds like you were hibernating.

That's what I'm going with during your winter,

[00:02:39] Abbey Henderson: a little bit like that and I'll, I'll take it. So since you may not sing your accolades, I'm gonna take a second to do that. You are one of the leading authorities on how placed environment and where you live, shape, quality of life. Health and longevity, you're like cited everywhere.

[00:03:00] CBS News, Washington, post Forbes, you went to two just schools like Princeton and Stanford Business School and um, you are an author of this fabulous book, right place, right time. So tell. How did you end up being a, an expert on place planning and maybe say what place planning is really quickly, so people

[00:03:23] Ryan Frederick: Yeah, no, for sure.

Thanks, Abbey. No, it's a, uh, it at the moment, it's not a household term, but we're looking to change that. Yeah. Um, you know, I'd like to say there was a master plan, uh, but there wasn't a master plan. I'd been in this intersection of, of place and health for, uh, two decades, Abbey. Uh, a lot, a lot of that time's actually been spent on the, what I describe as the supply side.

How can we create better places, particularly in the second half of life. So better housing, better mixed use settings, uh, kind of healthcare environments, et cetera. Um, but about a handful of years ago, Abbey, I, my friends and family are like, Ryan, you know so much about this [00:04:00] stuff. Write a book, help people.

They're trying to navigate this thing. And I went to college, uh, I majored in engineering to avoid reading and writing. So a book was never part of the master plan.

[00:04:10] Abbey Henderson: Yeah.

[00:04:10] Ryan Frederick: But in the, in the, and I've been doing a blog for a little bit, but then writing this book right place, right time. I, I'd say stumbled into something obvious and big.

Abbey, like for some reason sometimes placed like, it's so obvious it's like right in front of us, but we're also, uh, it's like invisible sometimes. Um, because when you look at the research around. Like longevity and healthy longevity. Your genetics only take account for about 20% is what the studies indicate.

So 80% is lifestyle and environment and environment shapes your lifestyle. So it's this like really key lever that, um, that matters a lot. You know, I I I like to say to people that, um, you don't shape place, like place shapes. You

[00:04:52] Abbey Henderson: actually, if you don't choose it intentionally.

[00:04:54] Ryan Frederick: Yeah. So it's one of these things and.

You know, we we're, we fortunately live in a [00:05:00] world where quite a number of us, uh, do have the ability in, in subtle and not so subtle ways to choose, uh, where to live. And it's not just necessarily. You know, what's, what's country or city or state or city? It's also the, what I like to describe as micro places within a spot.

So you might, let's say you live in Boston. You don't live in Boston, you live in a very specific neighborhood within a specific block, within a specific physical dwelling. And your life gets shaped by that particular piece. So place planning is a, uh, is a, is a new domain, really a discipline about being intentional.

About where to not just plant yourself. But how to be fully present, where, where you find yourself for each stage of life and with people living longer, we just have more stages of life to be thinking about.

[00:05:51] Abbey Henderson: So fill us in a little bit on what happened between the book and your current, uh, company, because I think there's been [00:06:00] Yeah, no, absolutely.

So too.

[00:06:01] Ryan Frederick: Yeah, exactly. So a company's called here, HERE. It's uh, here. Life is the website. The home of place Planning. Yeah. Well, so write the book, Abbey and I, you know. Again, the master plan never involved writing a book. And then I was writing it during the pandemic. 'cause that was the time, you know? 'cause you write it and then it takes a while to get out there and so on.

And so then it goes out and then a number of groups start reaching out. And some of them were real estate agents. Mm-hmm. Kinda makes sense, right? They're helping people and some of these big transactions. But a number of them were wealth advisors, financial advisors. Actually, a couple things happen, Abbey.

One was people were like, we get these questions from our clients and we'd like to have answers, and we're not experts in this. And the second one was some of these, uh, financial advisors, you know, they like to have events for their clients and like, oh, this is a good event. Let's yeah. Have Ryan, you know, these are friends of mine in Austin.

Why don't you come in and speak? And I couldn't actually say that much AB because there were so many questions people had. Yeah. And then I realized this really was on a lot of people's minds and there wasn't necessarily [00:07:00] a framework. Right. Think about it. So then I hired a branding firm in Canada. I said, what is it that I'm doing?

And they're like, you're doing place planning? I'm like, yes. Okay. That's the term. And then from the book, the book has a framework, but it's evolved a little bit now. So I call it the, um, the four quadrants of place, which aligns pretty similar to the five domains you talked about earlier. So, and SA place, I see it as environment, so like your square footage, how you block neighborhood and so on.

Weather, health. And so that's like how perhaps walkable or what? Um. The diet you like to have? Is that available where you live? Quality of air, noise, sleep, et cetera. Health component. Also, the fact that we tend to, um, catch the habits of those that are around us. If our friends, friends are obese, we're likely to be obese.

If our friends, friends are. Active, we're more likely to be active. So again, we, we get influenced by environment. The third of the four areas, uh, is, is community. So really social connection. And that might be the most important. You know, you may have good friends in [00:08:00] different parts of the country, but you really need like a local network to support you, that you also can support these reciprocal relationships.

And then the fourth is, um. Is, is you're an expert in which is, is finances and, and recognizing that sometimes we think of where we live and perhaps our home if we own it as a leading asset, which it may be. But also where we live is a key driver in our, uh, cost of living. And sometimes when we think about even how opportunity cost of our homes, there's equity in our homes, it may not be getting as higher return as it might otherwise be.

So a lot of factors to think about. So it's those four quadrants, environment, health, community, and finances. And if you're off on any one of those areas, Abbey. That can be enough to say, wait a second, is this the right, you know, place for me? Um, and so what's happened now is there's a process I've created where now people get customized place plans.

So kind of analogous to a financial plan, customized place plan. And then you take what can be a pretty complicated situation depending on one's life circumstances, [00:09:00] and it, and there's a level of complexity for single people and there's a level of complexity for couples. Um, and it takes this complex thing.

About a month, four sessions, online workbook videos, and then you get customized plan and people have really loved it.

[00:09:13] Abbey Henderson: That's amazing. So when I think about my clients, what's coming up most often is sort of the question around, I've lived in this house, or my parents have lived in this house for,

[00:09:25] Ryan Frederick: yeah,

[00:09:25] Abbey Henderson: 20 something years.

Sort of the, the mindset is, alright, should they go to assisted living? And I think your approach is just so much bigger in rope. More robust than that. It is not specific just to people who are maybe in their sixties and seventies who have been in the same place for 20 years. So tell us like who this is for.

[00:09:44] Ryan Frederick: Yeah,

[00:09:44] Abbey Henderson: it's not just that, right?

[00:09:46] Ryan Frederick: No, no. What's interesting, so I, because I have this background on housing in place in the second half of life, it made sense that the book would be focused on that. 'cause that's my point of reference. But when it came out, uh, my PR firm called and they said, [00:10:00] Ryan, uh, we're getting calls for, uh, media that focuses on Gen Z, millennials, and they're asking themselves these questions because of hybrid working, because of climate change, because of political polarization, et cetera, et cetera, et cetera.

And I said, well, actually, great point. Like the principles behind place planning hold true throughout your full adult, uh, uh, age spectrum. In fact, we have two kids in college. We've got a third who's a senior in high school, and I said, Hey, place planning starts when you choose where to go to college. And so my son who.

Quite entertaining. He's like, yeah, enough of this. Dad, I know this is the biggest decision of my life to date, and you're talking about place planning, blah, blah. But it has all sorts of implications. And so, so you know, it shapes the, your social network shape, the way of thinking different opportunities.

So yeah, it's broadly applicable, whether, particularly in in, in times of transition where. You know, you might have your first job, you settle down kids, et cetera. There's transitions that you can, uh, [00:11:00] predict. There's also transitions that happen to you, whether it may be change in health circumstances or change in marital status and so on, but also places change.

So what might be a perfect spot? You might think for one chapter of life, maybe the tax policies change. Maybe you don't know your neighbors anymore. Maybe the political environment has shifted on you. So. Yeah, it has a lot of application. Abbey, in the case though, of people in the, in the, you know, sixties, seventies, et cetera, like you referenced, whether it's she or your parents, this, the process, and this is really important.

Um, the process is like solution agnostic. Like when people go through it, we don't know necessarily what the right answer is. The whole point is, we're trying to think about it rigorously. And broadly enough so we understand the tradeoffs. Every pathway has a trade off. 85% of people, roughly, who are older, say they want it, their preferences to age in place.

Only about 15% of people have done anything to make that actually [00:12:00] possible for them. So invariably, and what I think this is a bit why planning is so important. A lot of the work that you do, Abbey, with your clients, which is with planning, we can help them see around the corner. If people don't see around the corner, then they get, they get surprised in situations they shouldn't get surprised in, and then their, their hand is forced.

To make a, to make a decision fast, quickly, that may be suboptimal. There's also a more, I'd say, more profound piece of this, which is a lot of this is around thinking about the opportunity cost of life. So you might have a certain pathway living in a certain spot, and then if you don't think about. Other pathways for you.

You don't necessarily know what you're missing and, and opportunity costs, it's a very simple concept, but actually I think it's quite profound because you, at any point in time, you have an infinite number of possibilities and, and you could drive yourself literally insane about thinking about all those.

But what I find is a lot of people. They, the, the, the risk is not thinking too much about them and being driven insane. The risk more [00:13:00] typically is not thinking about alternative scenarios enough. And so you come in with very narrow thinking, not realizing what the trade-offs are in your life. And as I mentioned before, your lifestyle environment are, are key, uh, dictators of not just your lifespan, but really your health span.

You know, the number of years you live in, in high quality health and. Uh, health Span has a relationship to our wealth span. A number of years we're in good financial health. There's a woman that went through, uh, the process last year, uh, through a financial advisor, and she had an interesting result. She, she's in her seventies, early seventies, excuse me.

And what she decided was, um, she really didn't wanna move, didn't have family in the area. Her answer was, I'm gonna get buff. So she went to the gym five days a week, created a program around, um, muscle growth, basically strength training. Uh, and I had a chance to meet her later on. I did a talk for this group and she's, [00:14:00] I mean, her guns are bigger than mine.

Mine aren't that big, but hers are bigger than mine and it just shows you don't know. This thing triggered something for her to say, wait a second, if I don't do this, the life I'm looking for, probabilistically may not happen. So it's a really like. Fascinating exercise of as, uh, dozens of people have gone through it, Abbey, and how it's impacted just their lives in different ways.

[00:14:20] Abbey Henderson: And what I love about what you're, well, I love so many things about what you're saying, but what's coming to mind for me at the moment is, one thing I really love about your process is that it. People can come in with a, a narrow perspective, not only because they're just not aware of other options, but also sometimes they are thinking back to an experience with maybe their parents 10, 15 years ago.

And so much is changing in this space. So it sort of forces them to rethink sort of stereotypes that they might be holding. Against certain options.

[00:14:52] Ryan Frederick: Yeah. Oh, it's a, it's a huge thing. In fact, you know, part of my origin story in this is that I, I was in college and, and we had [00:15:00] longer winter breaks in, uh, just by virtue of where I went.

And, and so I went and saw my grandparents who were from, lived in, in Rochester, New York, but, but, uh, wintered in Florida. So I went down there and I saw them. And for like a week it was, it was a healthy amount of time for the three of us and they would literally watch the Weather Channel. So when like a degree would change low ed, it's, you know, it's gonna be 76 now, not 75.

And it's kind of a big deal for them at the time and, and I'm an innovator at heart. And what I thought was we had created a certain expectations. Certain pathways, when you hit a certain age, you know you're supposed to retire and, and cut cold Turkey and people in the northeast, uh, are supposed to then move to Florida.

This is like the way it was, the way it is. And I think a key piece for me was recognizing as our world is changing, uh, we're people living longer, uh, hopefully people living not so longer, but healthier. We have new narratives that can be created in fact. You know, Abbey, you know, I met at a [00:16:00] conference recently at Stanford around this center of longevity.

The whole idea that we need to push back on these paradigms and, and I think that is a key piece of this, is like, we can talk about it in the abstract, but when people have a chance to reflect on it on their own and then say, wait a second. I mean, I, I, when I was growing up, uh, to date myself a little bit, we had those books Choose Your Own Adventure.

And as I said, I chose engineering 'cause I, reading and writing were not my strength. And, and, and Choose Your Adventure was kind of a, those books were fun because you'd read them and they might be 250 pages and you're like, oh, I read this big book. But because you choose your own adventure, you might might read like a third of it, you know, in the end.

But that metaphor, I think is a pretty good one for, for us now, like regardless where you are in your life, I think there's an opportunity to choose your own adventure. And in some cases, when we look at the generation above us, it can help us understand in some cases what not to do. Mm-hmm. You know, in this, and I think part of, you know, Abbey, we, uh, I joked based on the introduction when we met at Stanford, uh, you're like superwoman.

And [00:17:00] part of the reason you're superwoman is you're able to not just have these financial conversations, but have these broader life conversations. And in many ways, if, if people have visions around these broader life pieces, that's good to have the vision. But if you don't get. Place. Right. It's very difficult for those visions to actually, to be actualized.

It's, it's like, it's very practical in the sense whatever your vision of your life is like it has to. Take place somewhere. Um, and, and that's another, you know, key dimension in this,

[00:17:28] Abbey Henderson: you know, something else that you and I chatted about, I sort of approach clarifying values with clients a little bit differently, but your process does that beautifully just from another direction.

Like people may not have come into your, your assessment really having thought about, well, what is important, important to me and how do I prioritize them? And I don't know if, if, um, if you could speak a little bit to that as well.

[00:17:51] Ryan Frederick: Yeah, well, so the usually thing about plays is that, uh, in some cases, as you point out, Abbey, it can be a Trojan horse for deeper conversations.

[00:18:00] So just to be stereotypical for a second, not every male that I know. Wants to lead conversations about their values. Now I have a couple friends that actually do lean that way, but generally speaking, that's not really the, uh, the, the, the, that's not the median or average among my friends, but all of them need a place to live and as, as we start to correlate where we live with better, longer lives.

You get people leaning into this a bit more. Wait a second, actually. Like this thing kind of matters. Like how let's, and so then just like you described Abbey, when you get into this, the framework and the discussion, it is an expression of values. And so what does come out of is like, where am I gonna find purpose in this stage in my life where I live now, in some cases it may be straightforward.

We have kids, I've got a job. I'm involved in my community that may be served, but in other life transitions it's not as obvious. And, and, um, you know, there's quite a, quite a bit of research around if you don't have something bigger than yourself that you can point to on a regular basis, like that's a very high [00:19:00] correlation to your overall happiness level.

And then similarly, the longest tenured, uh, study on health, actually closer to where you are at the Harvard, uh, study on this over 80 years. Started with, uh, a JFK's class at Harvard and some of his peers in the broader community. They linked the quality of health at age 80. To the quality of your relationships at age 50.

Now, it doesn't necessarily mean that static, like you can improve it, whether you're 51 or 60. This is, it's a moving target. But the point is, like these relationships, social health, you know, as a term has become a little bit more normalized. That matters. And so you might, someone might walk in not necessarily wanting to talk about or expecting to talk about the quality of their friendships, but when you go through the process and you think about, wait a second, where are my friends?

And maybe I am in a, a bit of a rut, what can I do? And in some cases, and actually most cases Abbey, when people go through the place planning, uh, process, they don't move or they don't move immediately. A lot of times people just need to re-envision where they are and take a series of steps. But in some cases, you just might find [00:20:00] yourself in a spot where, um, it's not a rich environment to make friends.

Dropping yourself in a different environment, you know, can be, can, can make a big difference.

[00:20:07] Abbey Henderson: I think what's coming to me as you're saying that, is if you're starting this. Uh, process or sort of at least this approach to place planning early enough, you're probably gonna do it multiple times through the, the course of your lifetime.

This is not like a one shot. Thanks.

[00:20:24] Ryan Frederick: Yeah. Well, it's funny, so we, uh, had a, a session with a group, uh, two gentlemen. They're in New Jersey and, and, uh, they're actually gonna likely move to Florida now, but the, but they went through the process, really helpful for them. And they're like, well, Ryan, we wanna be in one.

We wanna figure this out for the next 20 years of our lives. And I said, I got some bad news guys. You're, you've, by the way, you've been amazing. You've dug in, you have clarity. Like I said, you would in the process and you've a plan. Now you, you know, you could, you'll be able to follow on and execute. I think it's making, making a difference in your life, but the oz of where you're moving to being the perfect place.

Over the next 20 years without, without [00:21:00] having additional place, planning, thinking, and you leading to the best outcome. It's not high. It may mean that you change physical dwellings. It may mean you need to think about your friendship networks. It may mean how you think about purpose changes. So I, I, I, I think it's a net, has a sibling relationship or it fits within the umbrella of comprehensive financial planning in the sense that financial plan is obviously, you know quite well, you're not changing every day.

But like things change. Mm-hmm. Like your need for liquidity changes, your assets change, you know, et cetera, and you're rejiggering things. Well, it's similar with with place planning. Your preferences and needs in your life may change over time. You made a life transition or on the cusp of a life transition, maybe your place is changing, like I described earlier.

Each of those things require, at a minimum, like a tweaking. Of the plan, but in some cases, an opportunity or necessity to get deeper again and reevaluate kind of where you want.

[00:21:51] Wendy McConnell: May I interject because I'm, I'm finding this so fascinating because I live at the Jersey Shore. I'm on the water. I'm in my dream house.

[00:22:00] Yeah. Been here for 10 years. I never wanna move. But you're telling me that I'm shutting off some possibilities of something better by saying I'm never gonna move from here. This is my dream house.

[00:22:10] Ryan Frederick: Yeah, I know. I guess I am the conveyor of bad news.

[00:22:13] Wendy McConnell: No, I just don't wanna miss anything, you know? Yeah.

[00:22:16] Ryan Frederick: No, you got it.

You got it. Yeah. And I've spent some time with Jersey Shore. I can appreciate how it would be a hard place to think of d. Spots. Part of what happens is this, and this is, this is why it's so, I think linked into comprehensive financial and life planning, which is essentially the, the feedback participants have gone through, that's their, that's what people have said.

This is not separate and apart from this is really in relationship to. A comprehensive financial life planning, which is one of the reasons why the relationship to financial planning, wealth planning, there is such a natural tie into it. So part of it, when I think about financial planning and it ties your questions, that part of the exercise is to inevitably endeavor to imagine your future self.

Which is very hard. There've been [00:23:00] MRI studies. It's fascinating actually. People going in to get a brain scan and they have pictures handed to them and they have pictures handed them of themselves at the moment, their, their family strangers, and then some mocked up pictures of what they might look like in the future.

Maybe less care for some people. Maybe a different color hair, you know, et cetera, certain wrinkles, whatever. And what the studies have shown is the brain activity, looking at your future self is more or less the equivalent of looking at a stranger. So we have a very hard time, we're wired this way. We very, we have a very hard time like imagining how life will be different.

Oh wow. Well, that happened to Susie, but that won't happen to me. Right. Or it used to be for the millennia, right? Um, we didn't have to plan because odds are we were gonna live to 30. And that was it, right? Uh, uh, it was, uh, you know, short and brutal. But now with people living longer, you know, [00:24:00] planning all be all of a sudden becomes an an important like skillset.

Financial planning wasn't always there. It's actually still a relatively young industry. So part of what I would describe then in this, in your situation, Wendy, is to say that two things. One, when we only think about where we are, we're not imagining other. The universe of other possibilities where we might thrive better.

That's one kind of operating principle. The second thing is it can be a failure of imagination in a different way, which is. The Wendy of 2026 might have different preferences and needs than the Wendy of 2036, or I have friends that have gone, or people have gone through place planning in Northern California.

They've lived in the wine country. When they moved there, wildfires weren't a risk. They're a risk. Now. It's changed the way that they, they don't have a peace of mind that they once had there and they're looking for a different place. [00:25:00] So yes, I think the idea of a perfect place that you live forever is fallacy.

Yes, I'm the heretic, kick me out. But I think, I actually think the, the facts bear them out. Is that in reality, if you look over larger, you know, sample size, actually Stanford's doing some of this work now, you see that things work for a period of time and then circumstances change and then you're in a different set of a different set of trade offs.

[00:25:22] Wendy McConnell: No, and I get it. I get it. Like we, Abbey and I were just talking, it's getting very unaffordable here in New Jersey. So, you know, that's some of the things that you have to keep in mind.

[00:25:31] Ryan Frederick: That's right. And, and by the way, this is why, uh, Abbey's expertise is so important in her peers is that. Modeling a life to 75 looks different than modeling a life to a hundred, and especially when pensions aren't a thing.

And I, I don't think social security's gonna go away, but it's reasonable to assume that age is gonna get pushed up over time. So how does this all, you know, how does all work? And, and I do believe that, uh, people can underestimate again, what their cost of [00:26:00] living is in some of these situations. Not a big deal over one year.

Compounded over a number of years. Yeah, it can make a difference. And that's actually gonna put pressure on these, on these states and cities to get their house in order. Because if I like to pick on Illinois, I know, sorry, Illinois is that they have. Um, a a lot of, uh, un unmet pension liabilities in their state.

They've got infrastructure that's been underfunded. Uh, this taxes and regulations are high. All of that doesn't support necessarily a thriving population to support and businesses to support the cost structure they have. So over time. You're gonna see, I believe, more in intrastate migration, and not just for tax reasons, but as people kind of project out, there are certain places where they're more likely to thrive.

One quick example of that for a moment is like about almost 10 years ago now, I was, my dad's from Pittsburgh, we went, kind of saw his old homes when he was there. And Pittsburgh, the city when we were [00:27:00] there, was doing great, but we had a, a hunting cabin, like two hours outside. And as we got closer to this hunting cabin, we saw for sale sign after for sale sign, and we had, we had lunch at a cafe, and the woman that served us said, yeah, our elementary schools half the size it once was.

The people that got out did the people that. Didn't now don't have a buyer on the other side of the transaction. So there really are these shifts in places and at the personal level you don't wanna make sure you're not on the wrong side of those shifts.

[00:27:27] Abbey Henderson: I can't believe we are starting to run out of time.

'cause I could talk to you probably for another half an hour, but sort of two questions. One is, do you have maybe one tip you could give people who want to start having this conversation with their parents? How do you get that kicked off? And then what's the one takeaway you want people to leave this episode with?

[00:27:51] Ryan Frederick: You know, great question on the first bullet question. Great, great questions. Abbey. On the first one, it, it, you know, it's interesting. I wrote the book with, with the idea that it's [00:28:00] for the individual, it's not necessarily for the adult kids to help with their parents. Um, so that being said, I think there's a huge need for that.

And at this moment, the police planning tools haven't necessarily been customized for that use case. We'd love to talk about that more. If there's, if you wanna talk about it, if there's others, you know, happy to have that conversation. How could we, um, customize in a way to empower that in the near term?

The easiest thing for people? Uh, both, uh. The parents in this context like we're talking about, assuming they're of like sound mind, et cetera. And then for the adult children, let's say there's an assessment tool on the, on the here websites here, life, it takes three minutes. It introduces you to the quadrant.

Four quadrants of place we talked about. Um, and it gives you just a quick take. Like, where am I right now on this? You know, am I looking great? Not what, and, and it's no judgment, just it helps you just real quickly get a TA taste of it. And [00:29:00] I think it doesn't necessarily push people as hard as the process does around what's around the corner.

How might your life look different five to 10 years, but it starts the thinking

[00:29:09] Abbey Henderson: that's key.

[00:29:10] Ryan Frederick: Um, and I would say that, uh, you know, Abbey, you already wired this way given your training and your mindset, but. I think to the extent from a financial advisor perspective, if, if the, if, if, if the field, um, and I'm seeing some people do this today, but to the extent the field can start to ask just broad questions, either in the annual review or an onboarding process, okay, well, hey, do you think like your place is supporting you the way that you want, you know, you thrive in there.

If you thought about tweaking it or moving, it provides an opportunity for a conversation. That can be much deeper and then help people, you know on that journey.

[00:29:43] Abbey Henderson: Love it. And we are going to read your book in my client book club. It is gonna be fun. Oh, fun, fun. The syllabus for, uh, the next, the next round of

[00:29:52] Ryan Frederick: Fantastic.

Fantastic.

[00:29:53] Abbey Henderson: So we'll be talking a lot about place planning, so I know everyone is gonna be rushing to find [00:30:00] out where they can find out more about you and more about your process.

[00:30:05] Ryan Frederick: Yeah. Easiest thing to do is, uh, go to go to the website, uh, www.here, HEE Life, and there you can see it, uh, assessments. There, there people.

In terms of the actual place planning process, people do it individually. There's couple singles we've done, we've done cohorts of people as well. Typically that's through an institution, so it's. Your wealth advisory practice, uh, or other like groups. We also offer just complimentary Zoom sessions. So if you've got questions, grab a grab a time.

And that's been really helpful. Just talk through ways to think about this.

[00:30:39] Abbey Henderson: And I bet you're on LinkedIn.

[00:30:41] Ryan Frederick: I'm on LinkedIn, yeah. I kinda a love hate relationship LinkedIn because it's like LinkedIn's helpful, but also I feel like sometimes there's um, there's a little bit like, uh, you know, bragging that happens Yeah.

On LinkedIn. So you have to like sort your way through. Yes, I am on LinkedIn. You can definitely find me there. You'll see some content there. Um, but, uh, yeah, a little bit [00:31:00] of love hate relationship.

[00:31:00] Abbey Henderson: Got it. Well, this has been amazing. Thank you so much for joining us. I can't wait to bring your book to, to my clients.

[00:31:07] Ryan Frederick: Yeah. Well, no, I'm, I'm, I'm glad you've emerged out of your my, uh, out of your hibernation. Yeah.

[00:31:11] Abbey Henderson: Yeah.

[00:31:12] Ryan Frederick: So I love it. And, and I do wanna say, you know, as I said, given our conversations, even the way we, we were connected, I just, I'm so impressed with how holistically you approach, you know, your practice with your clients.

Like, I, I truly hope that's the future of the field because there's so much unmet need as you and I have talked about. Not everyone's wired. To be able to, you know, tackle this from every angle in the evolution of place planning. I, I think there'll be a pathway where there's probably certified place planners mm-hmm.

Over time for people that want to dig in more ways. But I just love the way that you've thought about it more holistically, and, and I'm sure it's making a huge difference.

[00:31:46] Abbey Henderson: Well, thank you.

[00:31:47] Wendy McConnell: Abbey's the best, isn't she?

[00:31:48] Ryan Frederick: She's the best.

[00:31:50] Wendy McConnell: And if you want more information about the best, Abbey, how can we get in touch with you

[00:31:54] Abbey Henderson: all the usual ways?

So you can go to our website, which is [00:32:00] www.arisfinancialgroup.com. We're on Facebook, LinkedIn, love to hear from clients or from anybody, um, by email. And all of this will be linked in the show notes.

[00:32:11] Wendy McConnell: All right. Sounds good. Well, thank you to both of you and thank you for listening today. Please like, follow and share this podcast with your friends.

Until next time, I'm your producer, Wendy McConnell.

[00:32:25] Outro: Thank you for listening to Wealth Beyond Riches. Click the Follow button to be notified when new episodes become available. And be sure to visit our website at www.arisfinancialgroup.com. Don't forget to click the follow button to be notified when new episodes become available.

The information covered in posted represents the views and opinions of the guests. And does not necessarily represent the views or opinions of Aberra Financial Group. The opinions voiced in Wealth Beyond Riches with Abbey Henderson are for general information only and are not intended to provide specific advice or recommendations for any individual to determine what may [00:33:00] be appropriate for you.

Consult with your attorney. Accountant, financial or tax advisor prior to investing. Guests on Wealth Beyond Riches are not affiliated with Aris Financial Group or New Edge Advisors. LLC. Advisory Services offered through New Edge Advisors, LLCA, registered Investment Advisor.