Spend Your Principal! Ep #323 - a podcast by Benjamin Brandt CFP®, RICP®

from 2023-11-20T09:00

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Most people are worried about spending too much and running out of money in retirement. However, few people worry about spending too little.

In this week’s episode of Retirement Starts Today, you’ll learn why you should spend your principal in retirement. Our retirement headline comes from Dr. Jim Dahle at the Whitecoat Investor and shows us why many people don’t spend enough of their money and how you can take a practical approach to spending more.

If you are like most people, one of your main worries about retirement is that you’ll end up running out of money. While this is a well-founded fear for many underfunded Americans, chances are, if you are listening to this show, you aren’t an underfunded retiree.

While the current state of retirement savings is quite shocking, if you have a healthy retirement portfolio, you don’t have to lump yourself in with the majority of Americans.

Outline of This Episode

[1:52] Many people have a fear of running out of money in retirement
[3:40] The state of retirement savings
[7:02] Why some people don’t spend their principal
[13:19] What should you do with excess RMD dollars?

Resources & People Mentioned

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