Show notes
In this episode, Jacob explains why many retirees make an innocent financial mistake: not spending enough due to fear. He unpacks how a lifetime of saving and watching balances grow makes the psychological shift to spending difficult, and why the first 5 “go-go” years of retirement are often the most valuable for experiences and health. Jacob discusses real-life retirement spending cycles and how many plans wrongly assume spending rises steadily with inflation, and how underspending can create future tax problems through large RMDs, the widow’s tax trap, or higher taxes for heirs. He encourages listeners to change the retirement “scorecard” from portfolio balances to memories, experiences, giving, and freedom, and emphasizes building and regularly updating a real financial plan to gain confidence to spend intentionally.👉 Work With Us: https://www.rivertreewealth.com/get-started ✅ Get your Important Numbers 2026 PDF here: https://www.rivertreewealth.com/2026-important-numbers Email: [email protected] Website: https://www.rivertreewealth.com LinkedIn: https://www.linkedin.com/in/jacobduke Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.Tune In To Find Out00:00 The Mistake01:07 Saver To Spender Shift03:55 Go-Go, Slow-Go, No-Go06:31 Retirement Spending Smile08:23 Tax Trap And RMDs10:53 Change The Scorecard13:14 Permission Through Planning15:05 Mark of a Good Advisor16:28 Wrap Up