Head Toward Zero Assets - But Bill Perkins Doesn't Anticipate Real Poverty

"Many people tend to decrease their spending naturally as their expenses go down in retirement, and overspending doesn't seem to be an issue for many retirees." - Thinking from Bill Perkins, author of "Die with Zero," as he is quoted in Business Insider, April 26, 2024

People in general have financial common sense. They have less coming in so they pay attention to what is affordable at this stage of life. Based on my observations from my coaching sessions and Tarot readings with aging comes less chasing after symbols of status. Those are expensive such as housing in the right zip code and brandname vacations.

Simultaneously, what people spend on is primarily on meaningful experiences. They tend to not miss out on life by being too frugal and not enjoying following their bliss. What I notice is a new balance about life.

Sure, some will run out of money. But, Perkins doesn't anticipate there will be many. That is because net wealth tends to increase in retirement. The median net for those 75 and older is $281,600. Not in millionaire territory but enough for most.

That's if you choose to retire. What you might encounter is a bifurcation: There are the retired and there are those who strive never to retire. That could be the makings of a culture war.

Limiting beliefs? Self-defeating? Stuck? Complimentary consultation with Coach Jane Genova (text/phone 203-468-8579, janegenova374@gmail.com) 


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