Insights from the Purposeful Investor Podcast, Episode 21
Retirement is more than just a financial milestone—it’s a life transition that deserves thoughtful planning. In this episode of the Purposeful Investor Podcast, host Aden Wilkins sits down with Rakesh Shah and Damon Sugden, principals and wealth advisers at Capital Partners, to explore what it really means to retire with purpose.
Q: What inspired your interest in purposeful retirement planning?
Rakesh Shah:
For me, it started with a personal experience. My dad ran a family business in Kenya and worked tirelessly, seven days a week. When he retired and moved to Australia, I saw him struggle with inactivity. It made me realise that retirement should be more than just stopping work—it should be about living meaningfully. That’s what led us to develop our workshops focused on life beyond money.
Damon Sugden:
My motivation came from a different place. Sadly, my parents passed away before they could enjoy retirement. Now, I get to help clients live their best lives in retirement, and that gives me a deep sense of fulfilment. Our workshops are about helping people define what a successful retirement looks like for them—not just financially, but emotionally and socially.
Q: What do your retirement workshops involve?
Rakesh:
They’re interactive and hands-on. We start by exploring how the concept of retirement has evolved. Then we guide participants through exercises to help them visualise their ideal retirement. It’s not a seminar—it’s a workshop where people begin to build their own retirement blueprint.
Damon:
We also challenge the idea that retirement means stopping work altogether. For some, continuing to work—perhaps in a different capacity—can be incredibly fulfilling. The goal is to help people explore all their options and make informed, personal choices.
Q: What’s a good starting point for someone thinking about retirement?
Rakesh:
Start early—ideally five to six years before you plan to retire. That gives you time to form new habits and explore what you want your life to look like. Ask yourself: What am I retiring to? What activities or passions will fill my days?
Damon:
Exactly. Think of it as creating a blueprint for your next chapter. If you’re not already doing the things you hope to enjoy in retirement—like golf or painting—it’s unlikely you’ll suddenly start. Begin integrating those interests now.
Q: Do people usually know what they want to do in retirement?
Rakesh:
It’s a mix. Some people have a clear vision, but many are so busy with work and family that they haven’t had time to think about it. That’s where our workshops help—by creating space for reflection and sharing experiences.
Damon:
One client didn’t think he needed to plan. I suggested a “trial retirement” using his leave. After a few weeks, he realised he needed more structure and purpose. That trial run helped him adjust his expectations and plan better.
Q: How does retirement affect couples?
Rakesh:
It can be a big adjustment. Suddenly spending all day together can create tension if not managed well. It’s important to plan both joint and individual activities and understand that each partner may have different needs and interests.
Q: What financial considerations should people keep in mind?
Rakesh:
Once you’ve defined your purpose, make sure your financial house is in order. Start early so you can take advantage of tax strategies and ensure your goals are achievable.
Damon:
We often meet clients who wish they’d started planning sooner. Early preparation allows for better outcomes and peace of mind. It’s also a good time to review documents like wills and trusts.
Q: Can you share examples of clients who’ve retired well?
Rakesh:
One couple volunteers at a school together—they find it incredibly rewarding. Another client, in her later years, travels with new companions and stays socially active. It’s all about staying engaged and curious.
Damon:
I worked with a widow who was told she’d run out of money. When we reviewed her full financial picture, we showed her she’d be fine. She burst into tears—relieved that her late husband’s legacy would support her. That’s the kind of impact we strive for.
Q: What’s the one question everyone should ask themselves about retirement?
Rakesh:
“What are you retiring to?” That question changes everything.
Damon:
Start with the vision. Define what you want your life to look like—and then build it.
