Bill Van Sant has seen it many times among those he has helped with retirement planning. As a managing director at Girard, a Univest Wealth Division, Van Sant has worked with several retirees sitting on piles of cash in retirement but are scared to spend.
There’s the one client who continued to pour money into an old car even though he could afford a newer one that was more reliable. Or the multiple clients who planned to travel in retirement but kept putting it off out of fear they would outlive their savings only to suffer an illness or medical condition that prevented them from realizing their dream.
Even Van Sant’s own father keeps delaying the purchase of a newer boat that has a bathroom even though he has the resources to upgrade.
Read the entire article: Are You a Retirement Millionaire Who Is Too Scared to Spend? | Kiplinger