61% of Americans Fear Outliving Their Money: Here's the Fix | Jean Chatzky | 237

What if the biggest retirement risk isn't running out of money, but being too afraid to spend the money you worked decades to build? Personal finance icon Jean Chatzky joins Bill and Jackie to tackle the psychology and math behind turning a lifetime of savings into a Forever Paycheck. Jean shares her own late-start reset after losing her father, getting divorced, and getting fired within a single year. She then explains why retirees often happily spend Social Security and pensions while fiercely protecting their investment balances. Together they explore Jean's tools that can create both security and permission to spend. Jackie even runs her own numbers and discovers her forever-income gap might be surprisingly easy to fill.

This episode covers

Jean Chatzky's own financial reset after a series of major life changes at 40  Why retirees can become surprisingly reluctant to spend their accumulated savings  The "decumulation gap" and the psychology behind creating a retirement paycheck  How to build a "moat budget" around essential expenses and important wants  How risk tolerance and FOMO can shape your retirement-income strategy  Why Jean changed her long-held opinion about annuities  How home equity, insurance, HSAs, and other assets can become retirement resources  Why late starters need forgiveness, benchmarks, and trusted guidance, not perfection .

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