Christine and Erin Talk Money: Why You Need To Break Up With Your Saving Habit
Christine Benz was a guest on Erin Moriarity’s YouTube channel. They talked about buckets, relationships, and enjoying your retirement while you still can.
Erin Moriarity said something powerful when we chatted for her Erin Talks Money YouTube channel: “That vacation you take at 60 is not the same vacation you can take at 90.” Maybe it’s a little bit of a morbid thought, but it’s also a great motivator to spend your hard-earned and hard-saved money in the go-go years of retirement, if your finances allow.
She and I agreed on a lot of things (“I love buckets!” she said), but one theme we kept returning to in the video is that underspending is not a badge of honor.
Erin is quite familiar with that concept because she was a hard-core saver in her 20s and early 30s, socking away 70% or 80% of her income at one point, and even skipping vacations. She doesn’t regret saving and is now learning to be more comfortable with spending. In a way, she’s actually living a version of the classic retirement challenge of giving yourself permission to spend. That was one of the topics when she was a guest on The Long View podcast, too.
Check out the YouTube video below, and make sure you stay for the end, where she threw some curveballs at me in the rapid-fire segment.
Christine on Erin Talks Money
Erin on The Long View
More on the Topics We Talked About
Why Playing It Safe in Retirement Can Backfire
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.
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