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Why Your Old Spending Habits Won't Work in Retirement
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If you've saved more than a million dollars, that puts you ahead of 90% of your peers. Statistically, that makes you a super saver. But one of the biggest challenges super savers face is this: it's hard to spend your own money.
In this episode, I share one exercise that can help break some of those old habits and open the door to a more fulfilling retirement.
A Practical Exercise
Think back over the last year or two and pick a trip that you really enjoyed. Itemize all the spending decisions you can remember:
- Where did you go?
- How did you get there?
- How long did you stay?
- What did you eat?
- What souvenirs did you buy?
Take each line item and triple it.
Then think of two or three ways you could possibly spend that new tripled amount.
Listen to the rest of the episode and learn how we can rewire our brains from saving mode to spending mode.
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