Are You Too Scared to Spend in Retirement?

So I'm curious, guys, if you can walk through some signs that somebody is actually under spending.

And if you ever come across this with any of your clients or if you come across it with a potential client, how do you help them build a plan that actually gives them that permission to spend, so to speak?

We actually give them permission to spend right in our retirement plan.

Our servant retirement plan is all about showing a client, Hey, this is what you spend on a monthly basis over a year.

So kind of give me an example.

Like let's say somebody likes to take a couple of really big trips a year.

We usually give them a budget is somewhere between 12 and $15,000.

Right.

So they can go and do the different things that they want to try to do.

Well, we put that in the plan.

So it looks like to them, it's just one of their expenses that they have every month.

They're not going to spend that money all in one month.

But it's going to be allocated and shown that they can do these things adjusted for inflation and cost of living.

And then if somebody says, well, I'm not going to spend that kind of money traveling all the way till I'm 100, like your program says, well, you're probably going to do it until you're about 80, right? Yeah, I'm good with that.

And then we say, well, you're probably going to still go visit the grandkids and whatnot.

but not take a lab at trips.

Well, let's cut that back and show you what that looks like if you spend half that much or a quarter of that much.

And so when someone leaves our office, they have a real idea in their head of, hey, this is how much money I've saved.

This is the way I like to live.

And they're already accounting for inflation.

So I can do this is what they say.

I can really do this.

I can retire and have the kind of retirement I've always dreamed of.

And that's what we give our radio listeners, our TV listeners.

Any one of our clients gets that feeling from our servant retirement plan.

So I'm curious, guys, if you can walk through some signs that somebody is actually under spending.

And if you ever come across this with any of your clients or if you come across it with a potential client, how do you help them build a plan that actually gives them that permission to spend, so to speak?

We actually give them permission to spend right in our retirement plan.

Our servant retirement plan is all about showing a client, Hey, this is what you spend on a monthly basis over a year.

So kind of give me an example.

Like let's say somebody likes to take a couple of really big trips a year.

We usually give them a budget is somewhere between 12 and $15,000.

Right.

So they can go and do the different things that they want to try to do.

Well, we put that in the plan.

So it looks like to them, it's just one of their expenses that they have every month.

They're not going to spend that money all in one month.

But it's going to be allocated and shown that they can do these things adjusted for inflation and cost of living.

And then if somebody says, well, I'm not going to spend that kind of money traveling all the way till I'm 100, like your program says, well, you're probably going to do it until you're about 80, right? Yeah, I'm good with that.

And then we say, well, you're probably going to still go visit the grandkids and whatnot.

but not take a lab at trips.

Well, let's cut that back and show you what that looks like if you spend half that much or a quarter of that much.

And so when someone leaves our office, they have a real idea in their head of, hey, this is how much money I've saved.

This is the way I like to live.

And they're already accounting for inflation.

So I can do this is what they say.

I can really do this.

I can retire and have the kind of retirement I've always dreamed of.

And that's what we give our radio listeners, our TV listeners.

Any one of our clients gets that feeling from our servant retirement plan.