James, I've never met anyone who is really not worried about running out of money.

And I've also never met anyone who's going, I cannot wait to die with $100 million.

And this episode that we're going to talk about today was prompted by a listener question who said,

the thought of running out of money late in retirement, that will trigger anxiety.

I'm a human.

Ending up with many millions may also cause regret because of the thoughts of I should have,

I could have. The key is finding the right balance. How do we think about that? That's all about today.

This is another episode of Ready for Retirement. I'm your host, James Cannell,

and I'm here to teach

you how to get the most of the life with your money. And now, on to the episode. It's all about

today. And before people start thinking, that's an absurd range of outcomes, because that's enormous.

You either run out of money or you die with, you said 100 million, let's just say many millions.

That's not that uncommon for people that might be entering retirement with a couple of few million dollars, especially if they're entering

retirement on the earlier side to run some projections, see what they're headed for, and show

them that unless we start spending and start doing some stuff, you very well could

have four, five, six, ten times a lot more money at the end of retirement than you do going

into retirement.

How do we find that tradeoff?

Don't spend so much that you run out, but don't spend so little that one day you wake up and say,

man, I really wish there was more that I would have done with some of this when I could have.

Yeah. Whenever this conversation begins, I will start with compound interest and explaining

this rule of 72. And so if you have $2 million in your 50 listening to this right now, or you have a million dollars and you're 40,

...