{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"141: Estimating Spending in Retirement Calculations: Front-end the Fun!","description":"\u201cSpreadsheets are great at math; they suck at flexibility.\u201d Our hosts, Stephanie McCullough and Kevin Gaines, take aim at the assumption that every retiree spends the same inflation-adjusted dollar amount, every year, until death. It's the number your 401(k) statement spits out, the number the 4% rule promises, and it's wrong in two directions at once! First, it ignores life's lumpiness such as the new roof, the wedding, the pandemic-delayed trip to Greece. These are one-off costs that planners can average into projections but never quite eliminate. Second, and more provocatively, it ignores the "retirement smile". That\u2019s spending that's higher in the active go-go years, dips in the slow-go years, then ticks back up in the no-go years as long-term care costs bite. Their fix isn't a better formula but the intentionality to separate true essentials (food, shelter, utilities) from discretionary spending (travel, hobbies), because only the latter can flex when markets fall or inflation bites. Front-load the trips and experiences you're physically able to enjoy now. Retirees should borrow from "future spending" you were always going to do eventually anyway. Take it from Stephanie, who encourages us to \u201cplan that trip, people!\u201d   Key Topics: The Straight-Line Spending Myth (03:16) One-Off Expenses and Life's Lumpiness (05:33) The Retirement Smile: Go-Go, Slow-Go, No-Go (06:45) What the 4% Rule Actually Promises (10:10) Front-Loading the Fun Stuff (13:45) Essentials vs. Discretionary: Building In Flexibility (16:20) Savings Reframed as "Future Spending" (19:31) Long-Term Care and the No-Go Years (22:35)   Resources: Take Back Retirement Episode 130: Planning to Age Well: Life Care, Long-term Care, and Advocacy with Laura Lynn Morrissey: https:\/\/takebackretirement.com\/podcasts\/planning-to-age-well-life-care-long-term-care-and-advocacy-with-laura-lynn-morrissey\/ Take Back Retirement Episode 110: Navigating the Complexities of Aging: Proactive Planning for Seniors and Families with Jill and Steve Marshall: https:\/\/takebackretirement.com\/podcasts\/navigating-the-complexities-of-aging-proactive-planning-for-seniors-and-families-with-jill-and-steve-marshall\/   If you like what you\u2019ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com   You can find the transcript and more information about this episode at www.takebackretirement.com.   Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.  Follow Kevin on Twitter, Facebook, YouTube and LinkedIn. ","author_name":"Take Back Retirement","author_url":"http:\/\/takebackretirement.com\/","html":"