Hi Reader

As the sun continues to beat down and bless us all with much-needed vitamin D (though judging by the state of my lawn and the deeply unimpressed look on my dog’s face, not everyone’s a fan), I was reminded of something this week…

At a lovely air-conditioned conference where I gave a talk, several people came up to me afterwards and said the same thing...

“I still find it so hard to actually spend the money.”

Not earn it. Not save it. Not invest it. Spend it.

And not just spend it, spend it freely. Without guilt. Without second-guessing. On things that actually bring joy, meaning, and memories.

That’s exactly why I wrote this week’s article. To gently (or not-so-gently) nudge you to answer one big, slightly provocative question:

What would make spending £100,000 today feel worth it?

Let’s get into it, with an iced latte in hand and your inner spender cautiously emerging from the shadows.

FEATURED ARTICLE

The £100k Question: What Would Make It Worth Spending Today?

Let’s play a game...

I hand you £100,000 right now, but there’s a catch.

You have to spend it in the next 12 months.

No topping up the investment account or pension, no hoarding it in the bank or under the mattress, no gifting it to the kids and no investing for “later".

This is for you, now.

The question is... what do you do? What would make that money worth spending?

Because that’s not just a question about finances, that’s a question about values, priorities, and whether you’ve got enough imagination to turn your wealth into a life worth living.

It’s Not About Money, It’s About Meaning.

Here’s the uncomfortable truth I see again and again with people in their 50s and 60s:

They’ve done the hard part, worked the decades, saved diligently, taken advice and built a solid financial plan.

And yet, when it comes time to use that money... They freeze.

Not because they don’t have "enough". Because they don’t know what “enough” is for.

Why We Struggle to Spend

Let’s unpack this a bit.

There’s a deep psychology behind why people, even wealthy people, struggle to spend their money later in life.

Loss Aversion & the Pain of Spending

Research from behavioural scientists like Daniel Kahneman and Amos Tversky shows that losses are felt twice as strongly as equivalent gains. So even when you’re spending on something positive, like travel, learning, or joyful experiences, your brain instinctively treats it like a threat. A loss. A depletion.

The Scarcity Mindset

When income stops, every pound spent feels like a permanent decision. You’re not replenishing it with a salary anymore. This shift activates a scarcity mindset, making people hold tighter to their money even when they can afford not to.

Deferred Life Syndrome

Many people have spent 30+ years not spending. Always deferring joy for “later.” Later, when the kids are grown. Later, when the mortgage is paid off. Later, when I retire. And then… they arrive at later and realise they have no muscle memory for joy. No idea what it means to spend well, only how to accumulate.

Fear of Regret

“I don’t want to waste it.” “What if I need it for care?” “What if something goes wrong?” Regret aversion stops people from spending now, even on things that are low risk, high return, because the fear of making a “bad” decision outweighs the possible joy.

Let’s Flip the Question

Forget the budget for a moment. Forget tax wrappers. Forget the bloody spreadsheets.

Instead, ask yourself:

If I had to spend £100,000 on a life worth living this year, what would I do?

What would make your eyes light up?
What would make future-you proud?
What would bring joy not just once, but for years to come?

Because here’s what you realise pretty quickly:

The real currency of retirement isn’t money. It’s memory, it’s connection, it’s story.

What the Research Tells Us

You don’t have to take my word for it.

A 2021 study published in the Journal of Financial Planning found that retirees who actively spent on experiences reported significantly higher life satisfaction than those who spent the same amount on material goods or left their wealth untouched.

Harvard’s 85-year study on adult development shows that the single biggest predictor of long-term happiness and health is quality relationships, not bank balance, not house size, not investment performance.

And author Bill Perkins, in his brilliant book Die With Zero, makes the case that the earlier you invest in Memory Dividends, experiences that pay out emotionally over time, the more return on life you get from your money.

In other words:

Use it when it matters most, because joy has compound interest, too.

So What Would Be “Worth It”?

Here’s what I’d love you to do:

Grab a pen, your Notes app, or a napkin and a glass of wine.

And write down the answer to this:

“What would I do with £100,000 this year if the only requirement was to create more joy, meaning, or memories in my life?”

Would you:

Take your kids and grandkids on a legacy trip you’ve always dreamed of?
Go learn something ridiculous and joyful, like tango in Argentina or pottery in St Ives?
Finally, fix the house to make it a home you love living in, not just one you maintain.
Build that bloody art studio you keep saying “one day” about?

Your Wealth Isn’t a Monument. It’s a Tool.

A quiet bank account and a life half-lived are not a financial plan.

You’ve already bought the ticket; it’s time to go on the ride.

And if you need someone to help you decide what’s worth it and make sure you’re not compromising your future in the process, you know where I am.

TL;DR: The £100k Question

You probably don’t need more money.
You probably need more imagination.
Spending is hard not because you’re irrational, but because you’re human.
Your future self won’t thank you for dying with a full pension and a list of things you meant to do.
So… what would be worth it?

So What Now?

You don’t need a financial forecast to know that time is ticking, and you don’t need another calculator to know that your wealth is already enough.

What you might need is a new question.

Not “Will I run out?"

But “What will I miss out on if I don’t use this money while I’m here to enjoy it?”

Because the greatest risk in retirement isn’t overspending. It’s underliving.

So grab your £100k question and play with it, dream with it, talk it through with your partner, your planner, or just yourself with a big mug of tea.

Write the list, pick something off it and do it before the moment passes.

Because the one thing more dangerous than dying with too little…

Is dying with too much, and never really living.

RETIREMENT RESOURCE

The Big Spend Workbook

5 Questions to Reconnect with the Joy of Using Your Money in Retirement

The Big Spend Workbook.pdf

PODCAST

Finding Your Voice: Podcasting as Purpose with Matt Halloran

In this episode, I’m joined by podcasting powerhouse Matt Halloran to explore how podcasting can help you rediscover purpose, build a legacy, and connect deeply in your second act. Whether you're a retiree, a financial planner, or just someone with a story to tell, this conversation is full of wisdom, laughs, and practical tips for turning the mic into your most meaningful retirement tool.

Hit play and get inspired to speak up.