From Saver to Spender: How to Enjoy Your Money in Retirement Without Fear

In this episode, Catherine Allen-Carlozo, a Certified Financial Planner at HFM Investment Advisors, explores the transition from being a saver to a spender in retirement. Many retirees struggle with the fear of spending their savings, worrying about outliving their money, market crashes, or unexpected medical expenses. Catherine shares practical strategies to build confidence in spending, create a structured withdrawal plan, and align financial decisions with personal values and goals. If you’ve worked hard to save for retirement, this episode will help you shift your mindset and enjoy your wealth without fear.

Tune into this episode to also learn:

• How to create a steady and predictable income in retirement.
• The 4% withdrawal rule—what it is and how to apply it.
• The importance of having a “fun fund” to enjoy your wealth.
• How working with a financial advisor can provide clarity and peace of mind.

What we discussed

• [00:00:50] The challenge of transitioning from saving to spending in retirement.
• [00:01:36] Why many retirees feel fearful or restricted about using their savings.
• [00:02:10] The importance of shifting from a scarcity mindset to an abundance mindset.
• [00:03:01] Creating a structured withdrawal strategy to mimic a paycheck.
• [00:03:49] Understanding the 4% withdrawal rule and how it works as a guide.
• [00:04:46] How setting up a “fun fund” can help retirees enjoy their money guilt-free.
• [00:05:37] The role of a financial advisor in building a plan and running “what-if” scenarios.
• [00:06:21] Recognizing that you saved for this moment—now it’s time to enjoy it!
• [00:06:45] Why couples need to discuss their money personalities and financial goals.
• [00:07:26] How retirees can use their wealth to create meaningful experiences.
• [00:07:55] Why single retirees should have a financial advocate or “financial friend.”

3 Things To Remember

1. Retirement savings exist to support a purpose-driven life—define what that purpose is.
2. Having a structured withdrawal plan provides confidence and financial security.
3. You worked hard to save for retirement—now give yourself permission to enjoy it!

Memorable moments: 

(00:01:36) “Instead of feeling free and enjoying their lives, they felt restricted. That’s not what we planned for.”

(00:04:46) “Set aside a ‘fun fund’—give yourself permission to enjoy the money you saved!”

(00:07:55) “Whether you’re single or married, having a financial advocate can help you navigate these decisions with confidence.”

Useful Links

Connect with Catherine Allen-Carlozo: LinkedIn

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HFM Investment Advisors, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. All investments involve risk and are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as a recommendation appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment advisor to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.