Retirement Spending Guidance App

HerMoney with Jean Chatzky - EP 496: The Psychology of Money and the Art of Spending, with Morgan Housel

Market Gap: Retirees often struggle to spend their savings due to fear.

A Retirement Spending Guidance App could serve as an innovative solution for retirees struggling to spend their savings. This app would offer personalized spending plans, budgeting tools, and emotional support resources to help users navigate their financial transition during retirement. By incorporating features like spending simulations based on life expectancy and income projections, the app could alleviate fears associated with running out of money. Additionally, it could provide tips on enjoying life experiences without guilt, fostering a healthier relationship with money. The app could leverage insights from behavioral finance to create a tailored experience that empowers retirees to embrace spending as a means of enhancing their quality of life.