Jill on Money with Jill Schlesinger Husband Is Afraid to Spend
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Aug 6, 2025 This conversation dives into the fears surrounding spending money, especially as one approaches retirement. Strategies to manage financial anxieties are shared, highlighting the importance of comfort in spending savings. The value of hiring a financial advisor versus self-managing finances is also explored. Practical advice on navigating retirement funds aims to empower listeners to make informed financial decisions, while personal stories enrich the discussion.
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Encourage Spending with Math
- Review your current expenses and show mathematically how your retirement funds can cover spending.
- Take distributions regularly and encourage spending the distributed money to ease spending fear.
Saving Lifetime Makes Spending Hard
- People who spend their entire lives saving often find it hard to adjust to spending.
- Showing numbers can help overcome the emotional barrier to spending in retirement.
Beware Life-Only Annuity Risks
- Understand that a life-only annuity pays you monthly for life but leaves no money to heirs after death.
- Explore other payout options to suit your financial situation and family needs.