Your clients spent 40 years mastering saving. But nobody taught them how to spend. That is one of the biggest values you can bring your clients. Morgan Housel, bestselling author of “The Psychology of Money,” “Same as Ever” and “The Art of Spending Money,” breaks down the emotional barriers that keep retirees from using what they’ve worked so hard to accumulate. He explains why spending feels so unnatural after a lifetime of watching net worth climb, and why the numbers alone never tell the full story.

In this episode, you’ll learn:

• Why “Enough” Is Relative: Expectations grow faster than net worth, so a client with $10 million can feel more strained than someone living happily on Social Security.
• How Spending Can Reshape Identity: Big lifestyle upgrades often become a burden. As Housel notes, quoting Harvey Firestone on the mansion trap, “There’s no going back except as a broken man.”
• Why Purpose Beats Boredom: Removing work without replacing it with a chosen struggle leads to restlessness.

Connect with Morgan:
MorganHousel.com – Visit Morgan Housel’s website to explore his latest thinking on the psychology of money. It’s a practical resource for advisors looking to sharpen how they talk with clients about spending.