You’ve worked hard your whole life, saved diligently, and now retirement is finally here (or on the horizon). But there’s a sneaky trap that I’ve seen catch even the savviest financial minds—and it has nothing to do with market crashes or inflation.
Money Obsession – The Real Retirement Killer
You know what Susie Tompkins Buell once said? “If you wanna die the richest man, then just stay sharp. Keep investing. Don’t spend anything, and don’t eat any capital. Don’t have a good time. Don’t get to know yourself. Don’t give anything away. Keep it all. Die as rich as you can.”
When you put it that way, it sounds pretty miserable.
Here’s the thing—I’ve seen this play out with clients time and again. They reach the finish line with plenty of money, but they just can’t bring themselves to enjoy it. They’re stuck in wealth-building mode and can’t flip the switch.
The “One More Year” Syndrome
“I’ll retire when I hit $2 million… no wait, $3 million… actually, maybe $4 million to be safe.” Sound familiar? The goalposts keep moving, and suddenly you’ve worked an extra decade you didn’t need to.
The Penny-Pincher’s Paradox
You’ve got a healthy portfolio that could easily support some fun, but you’re still clipping coupons and skipping trips. That first-class ticket or dream vacation keeps getting pushed to “someday.”
The Portfolio Obsession
Checking your account balances daily, stressing over every market dip, and constantly tweaking your investments—even though you have more than enough.
Shifting Your Money Mindset
Here’s how to break free from the wealth accumulation trap:
Picture Your Perfect Day
What does a meaningful retirement actually look like for you? Is it traveling? Spending time with grandkids? Starting that business you’ve always dreamed about? Get specific about what brings you joy.
Your Money is a Tool, Not a Score
Your portfolio isn’t the end goal—it’s the means to fund the life you want. Figure out how much you actually need to support your vision, then give yourself permission to use it!
Find Your Balance
There’s a sweet spot between being responsible and being overly restrictive. You can be financially prudent while still enjoying the fruits of your labor.
Don’t Let the Tax Tail Wag the Dog
Yes, taxes matter. But don’t let tax avoidance keep you from living your best life. Sometimes paying some tax is worth the experience you get in return.
Remember, the goal isn’t to be the richest person in the cemetery. It’s to use your hard-earned resources to create a retirement filled with meaning, connection, and yes—a healthy dose of fun!
What’s one thing you’ve been putting off that would bring you joy in retirement?
Are you ready to retire with confidence?
Book a no-obligation initial call to see how we’ve helped hundreds of clients like you craft a personalized retirement plan that’s uniquely you.