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 . === SUPPORT  THE  SHOW === 📩 Sign up for our newsletter 📺 Watch & Subscribe to our YouTube Channel 🌐 Visit Catching Up to FI website  🔗Connect with us ☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee"  🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question   . ===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS=== F.I.R.E. For Dummies Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined.  Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start  Covers everything from basics to advanced strategies in one guide  Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties  📕 Get Your Copy  (currently 40% off on Amazon) For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners   . RESOURCES MENTIONED ON THE SHOW 📙The Forever Paycheck Her Money Her Money Podcast Guaranteed Income: A License to Spend  (A research paper by David Blanchett and Michael Finke)    . ⏰ Related Episodes  Are Pensions Really Dead? The Surprising Value of Modern Pensions | Andy Panko | 233 How To Build Your Own Paycheck: From Saver to Spender | Fritz Gilbert & Dana Anspach | 171    . 📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a profes