{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"The Biggest Retirement Mistake: Over Saving and Under Living | Rachael Camp & Jesse Cramer | 198","description":"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\u00ae and Jesse Cramer join the show for a tackle the topic and what's known as the \u201cconsumption 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:  \u2705 The 4% rule\u2019s real origin story (it was built to avoid failure, not to optimize joy) \u2705 The very human tendency to over solve for the worst-case market and under solve for lost health, time, and relationships  \u2705 Strategies Rachael and Jesse use with their clients to help them spend and not hoard their money in retirement \u2705 Why talking through childhood money stories is often more powerful than another spreadsheet. \u2705 Debunking the viral \u201cretire later, die sooner\u201d meme and zoom out to what actually affects longevity \u2705 A challenge tailor-made for late starters: once the math says you\u2019ve won, stop buy back your time, and don\u2019t die with the biggest net worth of your life. ====================   DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS   MONARCH MONEY 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 \u2013 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 \ud83d\udce9 Sign up for our newsletter \ud83c\udf10 Visit Catching Up to FI website  \ud83d\udd17Connect with us \u2615 Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee"  \ud83c\udf99\ufe0fWe 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.)   \ud83c\udf10 Rachael Camp Wealth Rachael Camp Wealth Youtube \ud83c\udf10 The Best Interest Blog (Jesse Cramer) Personal Finance For Long-Term Investors (Jesse Cramer's podcast) \ud83d\udcc4Debunked: The Later You Retire, The Earlier You Die?!     \u23f0 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!     \ud83d\udcccDisclaimer: 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. ","author_name":"Catching Up to FI: Financial Independence for Late Starters","author_url":"http:\/\/sites.libsyn.com\/451611\/site","html":"