Ramsey gives $2.4 million to stingy retirees: Don’t be afraid to spend it
Charlie’s $2.4 million portfolio supports a 4% safe withdrawal rate ($96,000 per year), but he spends only $50,000. He is stuck in a loop of scarcity. This pattern affects first-generation wealth creators in their 60s and 70s with seven-figure portfolios and good monthly incomes. The scarcity mindset that enabled accumulation is now preventing retirement spending, […]