The Human Side of Money 93: The Psychology of Retirement Spending and Prioritizing Peace of Mind with Christine Benz
Christine Benz has been dispensing financial planning knowledge and impacting the lives of people around the world for decades.
She’s written hundreds of articles for Morningstar on practical financial planning advice. In fact, she’s one of the best out there. But there are 3 articles that stick out from the rest.
They deviated from her usual style laying out step-by-step technical knowledge and ventured into the field of psychology and emotions.
So, we talked with Christine about those three articles.
She explains the psychology of retirement spending, why peace of mind is the ultimate luxury good, and the biggest money mistake she’s ever made.
Here’s what you’ll learn:
- Why peace of mind is her ultimate luxury good
- The importance of celebrating financial milestones
- The psychological advantage of prioritizing short-term goals
- Using a “Retirement Policy Statement” to get retirees to spend money
- The biggest money mistake she’s ever made (and the emotional reason for it)
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Resources:
- The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals
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