How to Manage Your Scarcity Brain with Michael Easter

Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Lifeplanning, Retirementplanning, Financialplanning, Saving, Careerplanning, Self-improvement, Education, Retirementpodcast, Investing, Business, Investmentmanagement, Retirement

4.7 • 1.1K Ratings

🗓️ 27 March 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have you ever wondered why it is so hard for you to spend your money? Even now after all these years of saving you know you have enough, but it’s hard to let go and untie those purse strings.

Today, my friend and renowned author, Michael Easter joins me to discuss overcoming frugality from a different perspective. Click play to hear about the evolutionary mismatch that hinders you from spending your money.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

LISTENER QUESTIONS

[2:38] Clarification on the 5-year Roth conversion rule
[4:36] Simple IRA rules
[6:50] The tax impact of waiting to take Social Security

PRACTICAL PLANNING SEGMENT WITH MICHAEL EASTER

[12:00] Why Michael pursued the concept of the comfort crisis
[18:32] How discomfort becomes rewarding
[20:20] How we can change our decisions in small ways
[24:25] How to manage your scarcity brain in retirement
[33:48] We often focus too much on the numbers
[36:59] The scarcity loop

TODAY’S SMART SPRINT SEGMENT

[41:10] Take the stairs

Resources Mentioned In This Episode

BOOK - The Comfort Crisis by Michael Easter

BOOK - Scarcity Brain by Michael Easter

Stutz

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Transcript

Click on a timestamp to play from that location

0:00.0	The show is a proud member of the Retirement Podcast Network.
0:04.8	You are not your job.
0:07.4	You're not how much money you have in the bank.
0:10.8	You are not the car you drive. You're not the contents of your wallet. Chuck Pallinnick.
0:17.0	Hey there, Roger Whitney here.
0:25.0	Welcome to the show that is dedicated to helping you not just survive retirement,
0:30.0	but to have the confidence, because you're doing the work, to lean in and really create a great life in Rock Retirement.
0:37.0	Now by day, I am a practicing retirement planner walking this journey with people like you with decades of experience.
0:45.8	And by night I've used this podcast for the last 10 years as my own mastery journey of honing
0:51.2	my craft and helping people create great lives and in turn helping you
0:57.7	organize this stuff and get focused so you can create a plan that you have confidence in.
1:02.8	So, then welcome to the show.
1:05.3	Now today we're gonna have Michael Easter,
1:08.0	New York Times best-selling author of The Comfort Crisis
1:10.8	and Scarcity Brain, his most recent book,
1:14.0	to explore overcoming frugality,
1:16.0	what we talked about last week
1:18.0	with Dan Crosby from a little bit different perspective.
1:20.0	Michael is a very thoughtful journalist who does his work and so we're going
1:24.8	to explore some of the evolutionary mismatch that might be hindering us from
1:30.1	using our resources to create a great life in retirement.
1:34.0	In addition to that, we're going to answer some of your questions
	...

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