The Long View

Our guests on the podcast today are Jamie Hopkins and Bonnie Treichel, who are co-authors of a new book, Your Retirement Sketchbook. Jamie is the CEO of Bryn Mawr Trust Advisors, Chief Wealth Officer of WSFS Bank, and founder of the FinServ Foundation. He’s a professor of practice at Creighton University and the American College of Financial Services. He’s also a contributor to Forbes and has been elected to the Fellows of the American Bar Foundation. Bonnie is the founder and Chief Solutions Officer of Endeavor Retirement, a consulting firm dedicated to solving problems for plan sponsors, advisors, and service providers in the retirement plan industry. She also serves as treasurer for the FinServ Foundation.

Episode Highlights

00:00:00 The FinServ Foundation and Your Retirement Sketchbook

00:10:06 Understanding “Rewirement,” Mindset Shifts, and Behavioral Biases in Retirement

00:18:15 Why In‑Plan Annuities Are Emerging Inside 401(k) Plans

00:20:57 Retirement Bucket, Private Assets, and Reducing Sequence‑of‑Returns Risk

00:31:21 Risks to Social Security Benefits

00:33:17 Advisor-Client Dynamics in Retirement Planning

00:38:03 Retirement Planning Books and Podcasts

Retirement Resources Mentioned

Your Retirement Sketchbook

Retirement Planning Guidebook

Safety-First Retirement Planning

Ikigai: The Japanese Secret to a Long and Happy Life

Retiring Minds Podcast

More From Morningstar

Retirement Withdrawal Sequencing Rules of the Road

Here’s How You Can Spend More During Retirement

Jamie Hopkins: A Framework for Financial Freedom

If you have a comment or a guest idea, please email us at [email protected].

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

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Our guest on the podcast today is David Bach. David is the author of 12 national bestselling books, including The Latte Factor; Smart Women Finish Rich; Start Late, Finish Rich; and The Automatic Millionaire. He just released the 20th anniversary edition of The Automatic Millionaire. David was a longtime contributor to NBC’s Today show and a featured guest on the Oprah Winfrey Show. He also produced and hosted two public television specials, Smart Women Finish Rich and The Automatic Millionaire. David started his career at Morgan Stanley where he was a senior vice president and partner of The Bach Group.

Episode Highlights

00:00:00 Moving Abroad, Early Retirement, and the Shifting Media Landscape

00:11:46 The Importance of Sabbaticals and Health Expectancy

00:19:39 Saving to Spending, New Tax on IRA Withdrawals, and Long-Term Effect of Deficits

00:34:39 Key Updates to The Automatic Millionaire and Automatic Contributions

00:37:59 Why Everyone Needs Access to Being an Investor

00:42:02 How to Start Investing Young and How to Catch Up Later in Life

00:47:26 How Inflation Affects Retirement Goals and The Benefits of Homeownership

More From Morningstar

6 Lessons From My 6-Week Mini-Retirement

The Best Strategies for Consistent Retirement Spending

7 Steps to Estimating Your In-Retirement Cash Flow Needs

If you have a comment or a guest idea, please email us at [email protected].

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

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Today’s guest on The Long View is Hilary Wiek. Hilary is a principal analyst at PitchBook, where she leads PitchBook’s coverage of fund strategies and performance, publishing primary research on the alternative space. Hilary also leads PitchBook’s coverage of the ESG and impact investing space. Hilary has over 20 years of experience in asset owner, manager, and advisory roles. Prior to joining PitchBook, she was the director of investments at the Saint Paul & Minnesota Foundations, where she handled portfolio management, impact and ESG investment, investment due diligence and monitoring, and investment operations. Before that, she worked in senior positions at Segal Rogerscasey, the South Carolina Retirement Systems Investment Commission, Buckingham Financial Group, Dayton Power & Light, and KeyCorp. Wiek received a master’s degree in finance and economics from Case Western Reserve University and a bachelor’s degree in business leadership and finance from the University of Puget Sound. She is based in PitchBook’s Seattle office. PitchBook is a Morningstar company.

Episode Highlights

00:00:00 Background in the Private Markets and Joining PitchBook

00:04:49 Drivers of Private Market Slowdown in 2026 and Pockets of Outperformance

00:14:15 Key Lessons for Investing in Private Market Funds

00:18:12 Private Market Fees, Hidden Volatility, and Valuations

00:20:38 Evergreen Investment Growth, Interval Funds, and Questions Investors Should Ask

00:32:26 Is It Worth It to Invest in Private Markets?

00:36:50 ESG, Impacting Investing, and Key Themes for 2026

00:41:05 Private Market Exposure in 401(k)s

PitchBook Reports Discussed

Benchmarking and Returns: Why Are There So Many Numbers?

Evergreen Funds: We Have Questions

The Evergreen Evolution

The New Face of Private Markets in Your 401(k)

US Evergreen Fund Landscape

2025 Impact Investing Update

If you have a comment or a guest idea, please email us at [email protected].

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

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Our guest on the podcast today is Jim O’Shaughnessy. Jim founded O’Shaughnessy Asset Management, a quantitative investment management firm in 1993. Franklin Templeton acquired the firm in 2021. Jim is also an author of several books, including Invest Like the Best and What Works on Wall Street. His latest book, Two Thoughts: A Timeless Collection of Infinite Wisdom, is a compilation of quotations from famous artists, writers and thinkers. Jim also hosts his own podcast called Infinite Loops. In addition, Jim is the founder and CEO of O’Shaughnessy Ventures, which provides financial backing and other support to individuals and projects.
Episode Highlights
00:00:00 Building a New Way to Analyze the Stock Market
00:07:18 How Stock Brokers Sold Stories Before Quants
00:12:19 Stock Price vs. Narrative and How Quants Avoid Stock Investing Pitfalls
00:20:05 Long-Term Investing, Bonds, and Keeping Emotions Out of Your Portfolio
00:29:50 Pre-Seed Investments, Finding the Right Founders, and Valuations Today
00:40:08 The Making of Two Thoughts: A Timeless Collection of Infinite Wisdom
00:47:29 Voices on the Infinite Loops Podcast
00:53:12 “Statis is Death” and Lifelong Learning
More From The Long View
Nick Maggiulli: Climbing the Wealth Ladder
Lawrence Lam: ‘The Types of Companies That Attract Me Are Founder-Led and Profitable’
More From Morningstar
How to Determine What a Stock Is Worth
How to Build a Portfolio to Reach Your Financial Goals
5 Ways Emotions Sabotage Your Investment Success
FOMO Can Lead to Lower Returns. Don’t Fall For It
If you have a comment or a guest idea, please email us at [email protected].
Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.
If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

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Today’s guest on The Long View is Sara Devereux. Sara is the Chief Investment Officer of Vanguard Capital Management and Global Head of Fixed Income. She oversees the investment professionals responsible for portfolio management, trading, and research for Vanguard’s internally managed fixed-income funds and ETFs, including actively managed bond and money market portfolios and bond index portfolios. Before joining Vanguard in 2019, Sara was a partner at Goldman Sachs, where she spent over 20 years in mortgage-backed securities and structured products trading and sales. Earlier in her career, she worked at HSBC, in risk management advisory and interest rate derivative structuring. She started her career as an actuary at AXA Equitable Life Insurance. Barron has named Sara to its annual list of the 100 Most Influential Women in US Finance every year since 2022.
Episode Highlights
00:00:00 Vanguard’s Investing Philosophy and New Innovations
00:06:20 Active Fixed-Income Strategy and the Alpha Waterfall
00:13:34 ETF’s Explosion, Active Management, and Private Credit Risk
00:23:10 How Technology Is Reshaping the Bond Market
00:29:51 Bond Market Performance 2025, Bonds as Ballasts, and Term Premiums
00:37:27 Bond Market Risks in 2026
00:42:51 Shifting Policy Crosswinds, Cracks in Credit, and AI Capex Risks
00:50:18 Technical Signals to Watch in 2026
Books Mentioned
Stay the Course: The Story of Vanguard and the Index Revolution
More From Morningstar
Vanguard’s Sara Devereux: Why It’s a ‘Terrific Environment’ for Bond Income
Salim Ramji: The Industry Uses Complexity As a Mask to Charge More
Morningstar’s Guide to Fixed-Income Investing
If you have a comment or a guest idea, please email us at [email protected].
Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.
If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.