5 Brutal Retirement Spending Truths Most Advisors Won't Tell You

Comments · 137

• AL

  @Allen-by6ci · 1 month ago

  <a href="https://www.youtube.com/watch?v=J845dig8eMI&amp;t=135">2:15</a> Your real risk is underspending, not running out <br><a href="https://www.youtube.com/watch?v=J845dig8eMI&amp;t=270">4:30</a> No balance will ever make you feel safe <br><a href="https://www.youtube.com/watch?v=J845dig8eMI&amp;t=390">6:30</a> The old withdrawal rules guarantee you will die with too much <br><a href="https://www.youtube.com/watch?v=J845dig8eMI&amp;t=546">9:06</a> Your spending will not be flat <br><a href="https://www.youtube.com/watch?v=J845dig8eMI&amp;t=688">11:28</a> No one is actually monitoring your plan <br> <br>Make a table of contents. &nbsp;It&apos;s not that hard.

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• TE

  @Tensquaremetreworkshop · 1 month ago

  It is not the balance that makes you feel safe- it is which direction it is going. 29 years into my (early) retirement, the value is still going up. I would have to be mental not to feel safe. However long I live, the more I will have.<br>In practice, just like your working life, you need a plan. If wealth is above target, spend more (if you want to). If below, pull back a bit. The winner is the one who has the least earned that will be spent by someone else.<br>Still cannot avoid anxiety? Buy an annuity. That is equivalent to having a job that you do not have to go to, but you will never be fired from.

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• MI

  @mikehunter7343 · 1 month ago

  I believe that staying off the hedonic treadmill is an important objective once you hit your number.

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• AL

  @AlfaRomeo2024 · 1 month ago

  I can understand why investment pros stay away from spending discussions. Because in my experience, people can spend vastly different amounts and still consider themselves “normal”. I’ve known people spending $200k a year and think they are frugal.

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• CI

  @Civility2Others · 1 month ago

  One of the benefits of delaying SS is optionality. &nbsp;If the market drops, you can always choose to turn it on. &nbsp;Also allows you to have less in fixed income.

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• JA

  @JAB-q3e · 1 month ago

  I know I will never run out of money but at the same time I’m constantly looking for ways to save money like hanging my clothes to dry instead of using the dryer even though I have no trouble paying my bills. I can’t help myself.

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• BA

  @baroque9983 · 1 month ago

  “The math” has variables and assumptions based on unknowns. &nbsp;Examples: &nbsp;how long you will live, one or both in an assisted living facility, housing costs, medical catastrophe, inflation, stability of pension or social security, market returns etc. &nbsp;we don’t even know if we’ll get 12% returns for the next decade, or 15 year bear market or dollar reset at <a href="https://www.youtube.com/watch?v=J845dig8eMI&amp;t=80">1:20</a>. &nbsp;So what do we do? We live conservatively and spend like a miser.

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• 2H

  @2Hesiod · 1 month ago

  Try entering your total annual expenses in a compounder at 3% inflation per year for ten years.

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• JP

  @jps0117 · 1 month ago

  I just turned 65.5*. My father died at 49 and my mother at 95. I could die today or at 100. I cannot possibly &quot;spend down&quot; my approximately $1 million retirement savings without risk, as I have no idea how much money I will need to live (not to mention possibly for long-term care). So I err on the side of keeping my balance from going down.<br><br>*Children count half years because they want to feel older; seniors count half years because they are grateful to be around for another 6 months. :)

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• GD

  @GDC348 · 1 month ago

  Wise words

• UK

  @ukelilly · 4 weeks ago

  I don&apos;t change my spending habits when retired but inflation and even just the current environments shows how just on even simplest items such as groceries and eating out can increase by alot. My grocery bill is huge and if we eat out with even just one of our kids it can easily be $60+ and it&apos;s just fast food.

• GR

  @GrammaKay · 1 month ago

  Thank you for this video. You helped me with the fear I feel about the future. So helpful.