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It can be an emotional strain to flip a switch from saving to dissaving

In the parlance of professional financial planners, it's the challenge of going from "accumulation" to "decummulation". This, as you show, is potentially one of the greatest problems in transitioning into retirement, particularly with those who have the greatest savings as a multiple of annual income at the start of retirement. An actual anecdotal story will clarify...

H&W target retirement with retirement savings of $2MM (all savings with no inheritance) and a final work year AGI of $100K (20-to-1). Their adult children convince them to take that $40K 30 day world cruise they had always dreamed of. At the behest of the children the couple's CFP calculates this expense is well within their means. So off they go!

30 days later they return. They are miserable. The trip was unenjoyable. They spent most of the trip in their room for fear of spending anything. The prices for anything on ship or shore was far more than they would ever spend.

Learning to 'Spend' for chronic habitual savers is a gradual and slow process. Any financial planner who has not learned this is setting themselves up for a rough time.

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