You Saved Millions — Now Why Can't You Spend It?

You worked 30–40 years, saved diligently, and built a nest egg — so why does spending it feel so scary? In Episode 137 of Retire Smart Maryland, Cynthia Defazio sits down with Prashant Sabapathi and John Defeo of Elite Income Advisors to tackle one of retirement's most common — and least talked about — challenges: the fear of spending your own money. In this episode, they cover: -Why even millionaires say their wealth "doesn't feel real" -The psychological shift from accumulation to distribution -How taxes silently shrink your retirement income -The impact of inflation on your purchasing power -Long-term care planning and market volatility — and how to prepare for both -The "bucket strategy" for organizing your money with purpose -The 4 questions every retirement income plan should answer Whether you're already retired or just getting close, this episode will help you build the confidence to enjoy the retirement you've earned. 💡 What You’ll Learn: ✔️ Why retirees are afraid to spend money in retirement ✔️ How to create reliable retirement income streams ✔️ The mindset shift from saving to spending in retirement ✔️ How inflation and taxes impact your retirement income ✔️ Strategies to help you spend confidently without running out of money ----------------------------------------------------------------------------------------------------------------------- ⏱️ TIMESTAMPS 00:00 – Welcome to Retire Smart Maryland 01:10 – Why So Many Retirees Fear Spending 02:00 – The Real Reason: Running Out of Money 03:00 – Why Saving Is Easy but Spending Is Hard 03:50 – Why Millionaires Still Don’t Feel Rich 04:40 – Retirement vs. Leaving a Legacy 05:35 – The Myth of Spending Less in Retirement 06:30 – Can You Spend More Without the Fear? 07:20 – How a Retirement Plan Creates Confidence 08:25 – Final Thoughts & Next Steps Complimentary Resources Below ----------------------------------------------------------------------------------------------------------------------- 👇 Free Retirement Resources & Tools •Schedule your complimentary consultation: 833-308-5200 •Visit: https://retiremaryland.com •Retirement Tax Calculator → https://testmytaxes.com •Legacy Planning Quiz → https://eialegacyquiz.com 📚 Get your free copy of Fiscal Health, Retirement Wealth (shipping included!) If you have specific questions you would like to address with the team at Elite Income Advisors directly, schedule a visit here 👇 https://app.greminders.com/t/9b595902 #FinancialPlanning #RetireSmart #WealthManagement #TaxPlanning #FinancialAdvisor ------------------------------------------------------------------------------------------------------------------------ 📞 Need Help With Your Retirement Plan? Schedule your complimentary consultation with Elite Income Advisors: 📲 Call: 443-274-3002 🌐 Visit: https://retiremaryland.com 📧 Email: [email protected] ------------------------------------------------------------------------------------------------------------------------ Disclosures: Investment advisory services offered through Elite Income Advisors, Inc., a registered investment advisor located in Ellicott City, Maryland. The firm only conducts business in states and jurisdictions in which they are properly registered or exempt from registration requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the advisor has achieved a specific level of skill or ability. All investment and insurance strategies have the potential for profit or loss. Asset allocation, rebalancing, and diversification will not necessarily improve an investor’s returns and cannot eliminate the risk of investment losses. Insurance and annuity products are sold separately through Retirement Planning Services, Inc. Insurance and annuity product guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Neither Elite Income Advisors, Inc. nor Retirement Planning Services, Inc. is engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.