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

Retirement Starts Today

Release Date: 03/03/2025

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Retirement Starts Today

Inflammatory headlines are "Clickbait", and I am not immune to falling for them. "Social Security recipients set to face an $18,000 benefit cut in just seven years" is the most recent culprit in my Google feed - with an image of a Social Security check with a wrecking ball smashing straight through it. The good news is the headline is pretty far from reality for most people, and I explain why. Listen in to understand who might actually be impacted, and why most people actually won't. Source: Article by Emily Peck on Axios: ""   Connect with Benjamin Brandt Get the Retire-Ready Toolkit: ...

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Retirement Starts Today

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New research from David Blanchett, head of retirement research at PGIM, challenges one of the biggest assumptions in retirement planning: that happiness in retirement depends on maintaining a constant—or even increasing—level of spending. ⬇️ Upon entering retirement, households experience a median consumption decline of about 20%. This drop is often viewed as a red flag in traditional financial planning models. However, Blanchett argues that this decline is not necessarily problematic, especially when you look at how financial well-being changes over time. ☎️ Then on our listener...

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Larger Standard Deduction New Senior Bonus Deduction (2025–2028)
 Above-the-Line Charitable Deduction (2026–2028)
 Expanded SALT Deduction
 ACA Subsidy Planning Alert
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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

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