The One Thing That Can Wreck Your Retirement—Even With Millions Saved
On this episode of Simply Money presented by Allworth Financial, Bob and Brian explain why having millions saved for retirement still doesn’t guarantee financial freedom—and how many high earners unknowingly sabotage their own retirement plans through lifestyle creep, unchecked spending, and poor cash-flow awareness. They also discuss the psychological dangers of sudden wealth and inheritances, why some people lose massive windfalls within just a few years, how to thoughtfully manage newly inherited money, and the smartest order to draw income from pensions, Social Security, deferred comp, and investment accounts in retirement.
Plus, they break down what employees should be doing before a company IPO or liquidity event and the hidden costs that can turn a dream vacation home into an ongoing financial burden.
Download and rate our podcast here.