Ep. 32 - Tactical ways to reduce your anxiety transitioning from saving to spending in retirement

<p>I decided to record this episode as a follow-up to Ep. 30 given how many questions and discussions I&#39;ve heard from listeners. If you have not listened to Ep. 30 <a href="https://podcasts.apple.com/us/podcast/ep-30-is-it-harder-to-go-from-spender-to-saver-pre/id1551578053?i=1000635036126" target="_blank" rel="noopener noreferer">(link here)</a>, you should go back and listen as Cody Garrett joined me to talk about the challenge of psychologically going from &quot;Saver to Spender&quot; in retirement.</p> <p><br></p> <p>However, many of the follow-up questions were about what tactical action items you could take to get comfortable with &quot;spending&quot; down your retirement nest egg.</p> <p><br></p> <p>There are 7 potential tactics and philosophies you could adopt, but be sure to coordinate these concepts with a comprehensive financial plan. </p> <p><br></p> <p>Here are some of the resources I referenced in the show:</p> <p><br></p> <p><a href="https://www.facebook.com/groups/retirementplanningeducation/" target="_blank" rel="noopener noreferer">-The Retirement Planning Education Facebook Group</a></p> <p><br></p> <p>- <a href="https://www.kitces.com/blog/estimating-changes-in-retirement-expenditures-and-the-retirement-spending-smile/" target="_blank" rel="noopener noreferer">Changes in retirement spending behaviors over time (Michael Kitces article)</a></p> <p><br></p> <p>- <a href="https://kyestates.com/wp-content/uploads/2015/02/Bengen1.pdf" target="_blank" rel="noopener noreferer">Bill Bengen&#39;s original 4% rule study</a></p> <p><br></p> <p>- <a href="https://www.immediateannuities.com/information/annuity-rates-step-1.html" target="_blank" rel="noopener noreferer">Immediate Annuity (SPIA) rates</a></p> <p><br></p> <p><a href="https://www.irs.gov/publications/p590b#en_US_2021_publink100090049" target="_blank" rel="noopener noreferer">- IRS single life expectancy tables </a></p> <p>***Just a note here, I meant to add that the &quot;Required Minimum Distribution&quot; is based on qualified tax-deferre