Weekend Reading: Scared to Spend: Overcoming the Retirement Cycle of Fear

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend reading overcoming the fear of spending retirement Weekend reading overcoming the fear of spending retirement
Weekend Reading

Your decumulation phase of retirement marks the transition from an income-earning career to a life without a steady paycheck, and it can feel unsettling. This anxiety is not only rooted in financial concerns, but also in the feeling of disempowerment; that you might have less financial flexibility.


However, the reality is that you do have the power to create a confident retirement, and here are several strategies to do so:

📌 Phase into retirement: Consider gradually reducing work hours or contributions to retirement accounts. Delaying Social Security benefits can also provide more fixed income.

📌 Never stop "working": Engage in activities or part-time work that align with your values and passions, even if it pays less. Setting and pursuing meaningful goals in retirement can help you maintain a sense of purpose.

📌 Build an investment portfolio designed for retirement: Instead of relying on a single, generic withdrawal rate, tailor your investment portfolio to your specific retirement goals (i.e: The Retire With Purpose™ framework).

Your retirement should be a purposeful and fulfilling phase of life, not one to be feared. By taking on an intentional approach to your retirement strategy, you’re more likely to build a Job Optional life and to gain the financial confidence you deserve.