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Are Super Savers Failing in Retirement? A conversation with Andy Panko

Retirement Starts Today

Release Date: 01/05/2026

Why are You Still Working? show art Why are You Still Working?

Retirement Starts Today

Andrew Rosen, CFP®, CEP, writes in a Kiplinger article how to walk through several common reasons people keep working — even as retirement comes into view. Rather than looking at money first, the author looks at motivation and breaks it into five broad categories: Category 1: I must keep working Category 2: I probably should keep working Category 3: I want to keep working Category 4: I’m afraid to retire Category 5: I don’t know why I’m still working The author suggests borrowing from a concept by Artiste called "First Principles Thinking". Listen in for the answer. Also, our listener...

info_outline Helping Underspenders And “Savers” Understand They CAN Spend More show art Helping Underspenders And “Savers” Understand They CAN Spend More

Retirement Starts Today

Can you relate to this statement: "They’ve done everything right financially… but still can’t bring themselves to spend the money they’ve saved." In today's Retirement Headline, Meghaan Lurtz explains why underspending in retirement is usually rooted in psychology, not math. Lurtz shares several common barriers: Fear of future dependence Doom forecasting And an Identity tied to being a saver Resource: Article by Meghaan Lurtz: "”    Listener question:  "If I plan to retire at 65 1/2 or 66 and sign up for Medicare before 65 - but not for Parts B and D (because of my...

info_outline Americans May Be Claiming Social Security Too Early show art Americans May Be Claiming Social Security Too Early

Retirement Starts Today

"Just 10% plan to wait until age 70" to claim Social Security in retirement — and it's not because of a knowledge problem.  We discuss this from a new survey that suggests most Americans may be claiming Social Security earlier than is financially optimal because fear is driving the decision. They understand the math—but they’re still claiming early. We also answer a listener 2-part question about where to park short-term cash in inflationary times and to actually buy Treasuries. And we wrap up the segment to bring you our newest segment from you, the audience: "Retire to Something"....

info_outline In the IRMAA Trenches with IRMAA Certified Planner, Paul Morrison show art In the IRMAA Trenches with IRMAA Certified Planner, Paul Morrison

Retirement Starts Today

Paul Morrison details how Medicare premiums, including the IRMAA surcharge, are inflating at a rate higher than Social Security COLAs. This disparity is causing concern, as premiums can potentially consume a retiree’s entire Social Security benefit over time, especially for those in higher IRMAA brackets for an extended period. Paul provides concrete examples of how extended periods in higher IRMAA brackets could lead to Medicare premiums exceeding Social Security benefits, forcing retirees to pay out-of-pocket. Resources: Contact Paul Morrison: Website: Connect with Benjamin Brandt Get...

info_outline Are Super Savers Failing in Retirement? A conversation with Andy Panko show art Are Super Savers Failing in Retirement? A conversation with Andy Panko

Retirement Starts Today

A special recording from Andy Panko for his Retirement Planning Education Podcast: We discuss how the financial industry is evolving, the common struggles of “super savers” in retirement, and the importance of aligning financial decisions with life goals, not just spreadsheets.  We talk about the role of Monte Carlo simulations, the importance of flexibility in financial plans, and the evolving role of advisors in a changing world. It’s a conversation that encourages you to find joy and flexibility in your retirement journey. Resources: Andy's podcast: Connect with Benjamin Brandt ...

info_outline Why Financial Independence is Overrated [Rebroadcast] show art Why Financial Independence is Overrated [Rebroadcast]

Retirement Starts Today

Nick Maggiulli’s latest article in Of Dollars & Data challenges one of the core ideas that drives personal finance blogs, podcasts, and even some of our own thinking — the belief that financial independence should be the ultimate goal. We explore the surprising downsides of chasing early retirement, the difference between financial independence and financial freedom, and why something called “Coast FIRE” might be the real goal worth aiming for. I also answer a listener question: What can retirees do to fight back against inflation? One listener asks how to protect their buying...

info_outline Spending Drops in Retirement, but Satisfaction Doesn't [Rebroadcast] show art Spending Drops in Retirement, but Satisfaction Doesn't [Rebroadcast]

Retirement Starts Today

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...

info_outline Who Has Actually Saved $1 Million for Retirement? [Rebroadcast] show art Who Has Actually Saved $1 Million for Retirement? [Rebroadcast]

Retirement Starts Today

Only 3% of Americans have saved $1 million for retirement. according to 24/7 Wall St. & AOL. I’ll break down what that means—and why your personal number might be more important than any national average. After that, I answer a listener question where we tackle how to cover healthcare costs in early retirement—specifically for a 58-year-old retiree with a non-working spouse and three adult kids under 26 still on the family plan. We’ll explore ACA strategies, income planning, and a clever way to help the kids get their own coverage at a big discount. Resource:  AOL article...

info_outline Five Key Retirement Challenges (and Solutions) [Rebroadcast] show art Five Key Retirement Challenges (and Solutions) [Rebroadcast]

Retirement Starts Today

Most people focus on saving for retirement, but what happens when you actually get there? Retirement isn’t just about having enough money—it’s about managing risks that can threaten your financial security and lifestyle.  In this episode, we explore Five Key Retirement Challenges (and Solutions), inspired by a Kiplinger’s Personal Finance article by Walt West. From unexpected market downturns to rising healthcare costs, these challenges can catch retirees off guard if they’re not prepared. We break down each challenge—financial instability, healthcare expenses, taxes,...

info_outline Retirees Only Spend 2.1% Per Year [Rebroadcast] show art Retirees Only Spend 2.1% Per Year [Rebroadcast]

Retirement Starts Today

to work with us! Many retirees enter their golden years with the goal of financial security, but what if the biggest risk isn’t running out of money—it’s not spending enough of it? A surprising new study reveals that retirees are withdrawing just 2% a year from their savings—barely half of what’s traditionally considered safe. This cautious approach might seem responsible, but it often leads to unnecessary frugality, missed experiences, and larger-than-expected tax burdens later in life. The hesitation to tap into personal savings, even when there's plenty available, raises an...

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More Episodes

A special recording from Andy Panko for his Retirement Planning Education Podcast: We discuss how the financial industry is evolving, the common struggles of “super savers” in retirement, and the importance of aligning financial decisions with life goals, not just spreadsheets. 

We talk about the role of Monte Carlo simulations, the importance of flexibility in financial plans, and the evolving role of advisors in a changing world.

It’s a conversation that encourages you to find joy and flexibility in your retirement journey.

Resources:
Andy's podcast: Retirement Planning Education

Connect with Benjamin Brandt

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Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement