From Saver to Spender: How to Confidently Use Your Nest Egg, Ep 390

Click here to work with us!

For decades, you've been focused on saving—watching your retirement accounts grow, sticking to a budget, and making smart financial decisions to ensure a secure future. But now that the time has come to actually enjoy your hard-earned money, spending it feels... unsettling. 

You’re not alone. Many retirees struggle with the mental shift from accumulation to decumulation, even when their financial plans show they have more than enough. The fear of running out, coupled with conflicting financial advice, makes it tough to confidently transition into this new phase of life.

Today we explore strategies for overcoming the retirement spending fear, based on an insightful Forbes article by Tim Maurer. We’ll break down his three-step approach: phasing into retirement instead of stopping abruptly, redefining "work" to maintain purpose and fulfillment, and structuring an investment portfolio designed specifically for retirement withdrawals.

Plus, we’ll tackle a listener question about Social Security spousal benefits and the implications of early filing. By the end of the episode, you'll gain a clearer understanding of how to embrace your retirement, spend with confidence, and fully enjoy the wealth you’ve built. 

Outline of This Episode

• (0:00) The fear of spending in retirement
• (1:19) The “Retirement Cycle of Fear”
• (3:13) Step 1: Phase into retirement gradually
• (5:15) Step 2: Keep working, but redefine it
• (7:20) Step 3: Build a portfolio for spending
• (10:14) Listener Q – Social Security & spouses
• (14:30) Final thoughts (how to thrive in retirement)

Resources & People Mentioned

• The Retirement Podcast Network
• Tim Maurer’s Forbes article – Overcoming the fear of spending in retirement.
• Daniel Crosby’s The Soul of Wealth – A deep dive into money and psychology.

Connect with Benjamin Brandt

• Become a Client: www.retirementstartstoday.com/start
• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/
• Follow Ben on Twitter: https://twitter.com/retiremeasap
• Join the newsletter: https://retirementstartstodayradio.com/newsletter
• Dive deeper into retirement planning with Ben at www.RetirementIncome.University

Subscribe to Retirement Starts Today on

Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify