Why Are We Seeing More Cases of “Fear of Spending” Among Retirees?

Christopher Carosa CTFA

Dec 20, 2019

We hear all about “not saving enough” when it comes to retirement, but there’s another issue that can be worse: “not spending enough.”

We hear all about “not saving enough” when it comes to retirement, but there’s another issue that can be worse: “not spending enough.” After a career focused on saving, when it comes time to retire, the saving tap is turned off and the spending tap is (supposed to be) turned on.

For many retirees, that’s when the sudden fear of spending kicks in. And there may be indications this phobia is reaching pandemic levels. “Yes. I have noticed a reluctance to spend as the cost of living goes up,” says Stephen H. Akin of Akin Investments, LLC in Biloxi, Mississippi.

https://fiduciarynews.com/2019/12/why-are-we-seeing-more-cases-of-fear-of-spending-among-retirees/