Q&A: How Not To Screw Up Retirement Spending

Afford Anything

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.6 • 3.4K Ratings

🗓️ 20 May 2025

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

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Summary

Eva is approaching financial independence, but she’s worried about messing up the transition. How does she set her portfolio up for success during the drawdown years of early retirement? Former financial planner Joe Saul-Sehy and I deep-dive into this question in today’s episode. Enjoy! P.S. Got a question? Leave it here. Episodes about the Efficient Frontier: https://affordanything.com/577-qa-the-efficient-frontier-was-perfect-until-hr-got-involved https://affordanything.com/357-practical-investing-and-the-efficient-frontier-with-joe-saul-sehy https://affordanything.com/380-ask-paula-how-to-optimize-your-investments-along-the-efficient-frontier-if-you-dare https://affordanything.com/episode597 https://affordanything.com/episode567 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Joe, when you were a financial advisor, how much variation was there in the withdrawal strategy
0:04.9	that your clients had, meaning when it was time for them to start taking money out of the
0:09.2	portfolio, they've hit retirement, now it's the fun part. How much variation did you see?
0:14.2	Before people came to me, it was all over the place, Paula. It was crazy. My job as a financial
0:20.1	planner was to help people put together this logical
0:23.7	flow. And what was a little sad, what people I think thought they wanted was something that was
0:28.4	customized specifically for them. The problem from a financial planning standpoint is if you do that,
0:35.6	then the person who's the expert in the room, me, I've got 85,000 places.
0:41.5	It's like a restaurant with a menu with 95 different options on it.
0:46.9	Like the cheesecake factory?
0:48.3	Like the cheesecake factory?
0:50.0	It's like the cheesecake factory.
0:51.8	Right.
0:52.3	The novel that you get at the cheesecake factory. Yeah. The novel that you get at the cheesecake factory.
0:54.6	Yeah.
0:54.9	You can't be great at all of them.
0:56.9	I mean, you could be okay at them.
0:59.3	But the answer is it was all over the place.
1:01.6	And my job was to make it much more a river that flowed in a logical direction.
1:07.0	Okay.
1:07.6	So if your clients had allowed for hyper mass customization, you would have been the Cheesecake Factory of Financial Planners.
1:15.4	But by virtue of doing something that was a bit more contained, you became the Michelin Star Restaurant.
	...

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