Treat Yourself: Why Intentional Spending Matters in Retirement
If you’re hesitant to spend—even when your plan says you can—you’re not alone. This episode explores how small, intentional choices can help shift the mindset from saver to spender, adding comfort, joy, and purpose to your retirement.
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What Would You Do With $300?
In the latest episode of Well Balanced, Vector Wealth Advisor Chris Wagner joins Ezra Firkins to discuss a simple but revealing question: Can a $300 purchase improve your life? From air fryers to flight upgrades, Chris and Ezra explore how small, intentional spending can bring real value—especially for clients who’ve spent a lifetime saving. The conversation invites listeners to reflect on their own comfort, habits, and hesitation around spending, even when their financial plans say, “Yes, you can.”
But this isn’t just about gadgets or upgrades. The episode dives into deeper territory—how savers can transition into purposeful spenders, how to build confidence through small financial experiments, and how tools like Vector’s Sojourn planning platform can model those choices. They also explore themes of legacy, joy, and the emotional work of allowing yourself to enjoy the wealth you’ve built.
Key Takeaways:
💸 Small purchases can spark big joy — Even $300 spent wisely can make life noticeably better.
🧠 Savers need a mindset shift — Transitioning from saving to spending in retirement is emotional, not just financial.
🧪 Start small, then evaluate — Try one thing (like new headphones, a flight upgrade, or a home project), and see how it feels.
🧰 Modeling builds confidence — Tools like Sojourn can show you exactly how a purchase fits into your plan.
🎁 Spending can be legacy too — Helping kids, supporting causes, or enjoying travel with loved ones.
Chapters
00:00 – Welcome & The $300 Idea
03:31 – Why Savers Struggle to Spend
07:02 – From Plans to Possibilities
10:34 – Start Small, Build Confidence
14:05 – Legacy, Comfort & Experience
17:36 – Model Financial Choices
21:08 – Confidence in Action & Wrap-Up
🎙️ Transcript (adapted for readability)
Ezra:
Welcome back to Well Balanced, the Vector Wealth podcast. Today, we’re joined once again by advisor Chris Wagner. Thanks for being here.
Chris:
Thanks for having me—excited to be back. This’ll be fun.
Ezra:
We’ve got a simple premise to explore today: For not a lot of money—say, $300—you can do something that measurably improves your life. For example, think about an air fryer, some quality headphones, or an e-reader like a Kindle. All of these land in the $150–$300 range.
Chris:
Yeah, and I thought of a flight upgrade—spending $300 to go from economy to business class or even first class. It can make a huge difference in how you feel when you arrive at your destination.
Ezra:
Right—so the idea is, if money weren’t as much of a concern, what small indulgences might you allow yourself to enjoy life a bit more?
Chris:
When we walk clients through their financial plans, we often get to the end and say, “Yes, your plan works. Your assets are projected to outlive you.” Then we’ll hear, “That’s a lot of money,” or “I guess I could spend more.” And that’s the key—we can’t spend it for you, but we can help you think about how to spend it.
Ezra:
And $300 is a good entry point. It’s enough to make a meaningful difference without drastically impacting your plan—even if it’s a tighter one.
Chris:
This really applies to anyone, whether they have $500,000 or $5 million. Many of our clients either lived through harder economic times or had parents who did. That mindset of thriftiness and saving has served them well—but it can be tough to flip the switch to spending.
Ezra:
Yes, retirement is a big transition. You move from saving and surviving to having to get comfortable with spending what you’ve worked hard to build.
Chris:
And savers will always be savers. There’s no magic button that makes someone comfortable spending just because their plan says it’s okay. That’s where working closely with an advisor can help—stress-testing the plan, modeling scenarios, and maybe even building in a trial run: spend $10,000 on travel one year and see how it feels.
Ezra:
I like that—start small and see what happens. Take that first-class upgrade. Did it make you feel more relaxed when you arrived? Or did the price tag stress you out? If it didn’t feel right, don’t do it again. But you won’t know until you try.
Chris:
Exactly. And if your plan is still solid afterward, that builds confidence. That’s when people begin to expand into larger upgrades—nicer hotels, new cars, or home improvements.
Chris:
We often see clients projected to leave a significant legacy to the next generation. But I always ask: “Do you want to enjoy some of that money now?” You worked hard for it. If you’re not going to spend it, someone else will.
Ezra:
Right, and sometimes clients already have legacy goals built into the plan. So spending a bit more now isn’t taking away from that—it’s just fear holding them back.
Chris:
We had a client who planned for a new car. The money was set aside years ago in a secure income bucket—market volatility didn’t touch it. When they hesitated, I reminded them: “This is exactly what we planned for.”
Ezra:
For those unfamiliar—can you walk us through how Sojourn helps model these scenarios?
Chris:
Sure. Sojourn is a powerful tool we use to model financial “what-ifs” in real time. Whether it’s increasing the travel budget from $10K to $15K, or adding a one-time gift to your kids, we can input that into your plan and instantly see the impact.
Sometimes we proactively tell clients, “You could spend $10,000 more each year and still be totally fine.” That gives them a sense of what they can do, even if they don’t choose to act on it right away.
Ezra:
Home improvements are another great example. Start with a small project, like a bathroom remodel. See how it feels to spend the money and enjoy the result. Then maybe tackle the kitchen or the family room.
Chris:
Yeah, exactly. It’s about building confidence over time. And as you see your plan remains solid, it’s easier to justify those bigger experiences or comforts.
Chris:
If you’re looking for where to start, here are four categories to explore:
Legacy & Giving – Set up a scholarship fund, help your grandkids with college, or create a donor-advised fund.
Comfort – Upgrade your home, your car, or the way you travel. A little comfort can go a long way.
Experiences – Make that travel bucket list. Plan milestone trips in the early retirement years when you’re healthiest.
Purpose – Take a cooking class, start a woodworking project, launch a passion project. If it brings joy, it’s worth it.
Ezra:
So the takeaway is: it’s okay to spend. It’s just often a new mindset for those who’ve spent a lifetime saving.
Chris:
We’re not saying to stop being smart with money—we’re just saying: think about where a little extra could really enhance your life. Then test it. Spend $300. See how you feel. And talk to your advisor. That’s why we’re here.
Ezra:
Beautifully said. If you have questions, reach out to Chris or any of the advisors at Vector. And if you’re not working with someone yet, give us a call.
Chris:
Absolutely—we’re always here to help you get today right.
These discussions aim to spark dialogue about enhancing retirement readiness and making more informed financial decisions. At Vector, we delve into the nuances of scenario planning, offer insights and guidance tailored to each client's unique circumstances. If you or someone you know is pondering their financial future or seeking clarity on their retirement plan, we're here to help.
This discussion is between Mike & Ezra.
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