From Saving to Spending: Nest Egg - "Builder-to-Manager"

 Spending: A Surprisingly Hard Part of Retirement

Our oldest son sent back in 2022 the following article: "A surprisingly hard part of retirement: Spending what you worked so hard to save".   Linda brought this article to my attention as it resonates with me - it may also resonate with you.  

Shift from "Saver" to "Spender"

Now comes the hard part: "Actually letting yourself use your savings, since you will no longer be bringing in a paycheck".

"Making the psychological shift from "saver" to "spender", not to mention "nest egg manager" - is no small feat..."

"Unpredictable factors like market performance, inflation, life expectancy, and health make spending your money" difficult...

Mind Shift: Your Retirement Savings are Doing the Work

"Your retirement savings are doing the work, so you don't have to..."

- Ask: "why is it important to you to have the same amount of money or more when you die"??

- Retirement includes "figuring out who you are" and viewing retirement savings as a "means to an end"

BUILD A BUDGET - what you can you reasonably spend?

- "Build a cash bucket that covers what you need for a year or two so you won't be forced to sell anything if the market "heads into a recession". 

- Build a budget - what are your expenses - required and discretionary?  What is your income?  What adjustments should you make??

Call to Action: Nest Egg "Builder" to "Manager"


FOR ADDITIONAL READING:

A surprisingly hard part of retirement: Spending what you worked so hard to save.  Jeanne Sahadi.  SNN Business.  October 3, 2022. A surprisingly hard part of retirement: Spending what you worked so hard to save | CNN Business


                                            Photo: D. McCallister.  Southern Utah. 


YOUR REFLECTIONS

Example(s) of "nest egg manager"?  


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