From Saving to Spending: Navigating the Mindset Shift in Retirement

What happens when you finally reach your retirement “number”… and then have to start spending it?

In this thoughtful and highly relatable conversation, Russ Ball sits down with Jeff Perry—recently retired financial advisor—to explore one of the most overlooked challenges in retirement: shifting from saving to spending. After decades of focusing on accumulation, the transition to drawing down assets brings both financial and emotional complexities that aren’t always easy to prepare for.

Jeff shares his firsthand experience navigating those first few months of retirement, offering an honest look at the psychological hurdles that come with watching your portfolio decrease rather than grow. Together, they discuss how to determine sustainable withdrawal rates, the importance of truly understanding your expenses (including the often-forgotten “life happens” costs), and why having a clear plan can make all the difference in building confidence.

The conversation also dives into practical strategies—like guardrails, bucketing, and annual plan reviews—that can help retirees stay on track while still enjoying their money. Perhaps most importantly, this episode highlights the emotional side of financial planning: overcoming fear, embracing flexibility, and giving yourself permission to live the life you’ve worked so hard to create.

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