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If youre aretireewith resources that youre too scared to spend on anything but the basics, read on.
They believe that they will never have enough, that they will always live in scarcity.
We see this quite a bit, added Jake Heisler, a certified financial planner withQuaker Wealth Management.
Some of the best savers are some of the worst spenders.
Theyve been focused on one thing for so long, it isnt easy to shift.
Dream trips are postponed or never happen.
Special experiences with grandkids are put off.
Hobbies we intended to pursue have never taken flight.
Possible solutions include enlisting the help of a financial pro to talk you through these issues.
Heisler agreed and noted that these shifts may take a while.
Her decision followed two years of financial conversations.
Most shifts dont happen overnight, Heisler said.
These things take time.
Its possible to go too far though, experts say.
Heisler noted that legacy usually makes a good later step instead of a first step.
Getting the order wrong can leave retirees financial security and desired lifestyle seriously underfunded.
Some focus on the next generations, making sure the kids and grandkids will have enough, Heisler said.
They jump over the next steps and go right to the legacy.
Getting those adult children involved in the conversation can be a good first step to solving the issue.
A financial pro may help guide the conversation.
Reminders that youre in good shape are also important.
Ground yourself in your financial plan, and create regular check-ins.
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