Retirement Answer Man Replay: Overcoming Frugality in Retirement with Dr. Dan Crosby
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Jul 23, 2025 
Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisory Services, delves into the psychological hurdles retirees face in shifting from saving to spending. He highlights the struggle many experience with frugality and provides practical strategies to embrace spending confidently. The conversation emphasizes the importance of experiences over accumulated wealth, urging listeners to prioritize meaningful moments with loved ones. Discover how to overcome regret aversion and transform your retirement into a fulfilling journey, rather than holding back out of fear.
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Money Use Divides Couples
- People tend to disagree most about whether money should be used for enjoyment today or securing tomorrow.
- Long-term savers struggle to flip the switch to spending after decades of accumulation.
Retirement Shifts Focus to Money
- Retirement removes work's structure, leaving many to control money as their main anchor.
- This lack of other meaning causes people to double down on financial control.
Advisor Incentives Favor Accumulation
- Financial advisors are incentivized to focus on asset accumulation over thoughtful spending.
- This creates a bias in advice towards saving rather than decumulating.
