Afford Anything | Make Smart Money Choices Q&A: He Wants to Die With Zero – Here’s How to Spend $1M Without Running Out
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Apr 28, 2026 Practical strategies for spending a $1M nest egg across retirement without running out. Trade offs between joyful living now and financial safety later are debated. Options like long term care insurance and a smirk-shaped withdrawal pattern are explored. Risks and liquidity concerns of real estate syndications are covered. Tax bucket choices and whether to prioritize Roths or taxable accounts are discussed.
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Client Who Overspent Early Had No Regrets
- OG's client intentionally overspent early in retirement and accepted a frugal end of life, and he reports no regrets.
- Joe shares this client story to illustrate choosing memorable early experiences over maximizing longevity of assets.
Why Late Life Expenses Often Rise Again
- Retirement spending typically follows a smirk: high in the 60s, dips in the 70s, then rises in the 80s+ due to caregiving and ADL needs.
- Paula explains activities of daily living drive late-life cost increases like help with dressing or household tasks.
Keep Home Equity Available For Later Use
- Consider using home equity later (reverse mortgage or downsizing) rather than tying up equity now; pair that with LTC insurance to preserve liquidity.
- Paula outlines reverse mortgages, selling, or downsizing as late-life liquidity options.