COSTLY MISTAKES

with Sandy Hornor | CEPS

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About This Episode

Spending too quickly in retirement can drain savings and create stress later in life. In this episode, BWFA’s Sandy Hornor, Jr. and Tyler Kluge explain the “retirement spending trap” and share strategies to make sure your money lasts as long as you do.

Full Description
Retirement should be a time to enjoy the results of years of saving and planning. Yet many retirees fall into the spending trap—using their nest egg too quickly in the early years. What feels comfortable in the moment may create long-term financial pressure, especially as healthcare costs rise and lifespans extend.

In this episode of Healthy, Wealthy & Wise, BWFA’s Sandy Hornor, Jr. and Tyler Kluge discuss the importance of pacing withdrawals. They explain how lifestyle choices, travel, and large purchases in the first decade of retirement can have ripple effects decades later. The conversation also highlights why required minimum distributions and tax considerations should factor into withdrawal strategies.

Listeners will learn how to develop a sustainable spending plan that aligns with both current lifestyle desires and future needs. Sandy and Tyler share examples of clients who adjusted their spending pace to preserve financial flexibility while still enjoying retirement. They also emphasize the role of professional planning in stress-testing different scenarios to ensure confidence throughout retirement.

The retirement spending trap isn’t about avoiding enjoyment—it’s about making thoughtful choices that balance today’s lifestyle with tomorrow’s security. By slowing down spending in the early years and reviewing your plan regularly, you can maintain peace of mind while protecting your financial legacy.

For more guidance, visit BWFA’s Financial Planning Services.