The Biggest Retirement Mistake: Over Saving and Under Living | Rachael Camp & Jesse Cramer | 198
Catching Up to FI
Ad break
Host-read sponsor message for Monarch and a Mint Mobile ad with listener discount details.
Don't be that person who becomes a hoarder in retirement! You know who you are and it's a big concern for those that are champs at saving but reluctant to spend. It almost seems like a good problem to have... but not really! Retirement planners Rachel Camp, CFP® and Jesse Cramer join the show for a tackle the topic and what's known as the "consumption gap"-- the mismatch between what retirees could safely spend and what they actually spend. They discuss how decades of frugality, and dopamine hits from watching net worth climb and similar types of thinking make it brutally hard to flip from saver to spender.
In this episode we cover:
✅ The 4% rule's real origin story (it was built to avoid failure, not to optimize joy)
✅ The very human tendency to over solve for the worst-case market and under solve for lost health, time, and relationships
✅ Strategies Rachael and Jesse use with their clients to help them spend and not hoard their money in retirement
✅ Why talking through childhood money stories is often more powerful than another spreadsheet.
✅ Debunking the viral "retire later, die sooner" meme and zoom out to what actually affects longevity
✅ A challenge tailor-made for late starters: once the math says you've won, stop buy back your time, and don't die with the biggest net worth of your life.
====================
DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS
The modern way to manage money! Monarch will change the way you organize your financial life. Track, budget, plan, and do more with your money – together. Get 50% off the first year using this link and entering code: CATCHINGUP50
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
SUPPORT THE SHOW
🌐 Visit Catching Up to FI website
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee"
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question
RESOURCES MENTIONED ON THE SHOW: (As an Amazon Associate, I earn from qualifying purchases.)
🌐 The Best Interest Blog (Jesse Cramer)
Personal Finance For Long-Term Investors (Jesse Cramer's podcast)
📄Debunked: The Later You Retire, The Earlier You Die?!
⏰ Related Episodes
Smart Money Moves After 50 | Bill Yount | 142
Space Telescopes, Sunflowers, and Financial Gardening | Jesse Cramer | 105
If you enjoyed this episode, please follow the show on your podcast player and leave us a rating and review. If you want to watch, be sure to subscribe to our YouTube Channel. This helps others find the show and keeps us creating great content for you!
📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.
The AI-powered Podcast Player
