Business Desk. CPA and retirement planner Kurt Suppe shared a story on social media platform X, which is becoming very popular. This story highlights a common but untold challenge of retirement: affordability. Suppe described the case of a 68-year-old client whose net worth was $2.8 million (about Rs 25 crore). It also has a luxurious house worth $9.5 lakh (Rs 8.45 crore). Despite her considerable financial security, she was living on just $38,000 a year in Social Security. Even in spite of having so much wealth, this woman was not giving herself proper rest in old age.

The woman's parents passed away at the age of 70.

"I am not withdrawing money from my retirement account. I need it for emergencies," the 68-year-old woman told Suppe. This reflects a mindset inherited from his Depression-era parents, who retired on pensions and died at the age of 70.

After much opposition, woman agreed to withdraw more than Rs 1 crore annually

After several months of protest, Suppe finally convinced the woman to take distribution. After this, she started withdrawing $1,20,000 (Rs 1.06 crore) from her portfolio every year at a sustainable rate of 4.3%. This change proved to be a complete change in his life. She now visits her grandchildren in Phoenix every three months, takes them to Disney World, and no longer has to worry about living expenses.

There is no reward for dying with too much money

Giving a message in his post, Suppe wrote, "You don't get any reward for dying with the most money." Let us tell you that this post of his has been viewed more than 50 lakh times, after which a vigorous debate has erupted online. One user commented that despite having considerable wealth, they would not want an expensive home and could live comfortably on $38,000 a year, which shows that the woman is not necessarily unhappy.

You have accumulated wealth, but you need to retrain yourself to spend it.

While sharing his story, a person said that he is currently 36 years old and is good in terms of money. He likes to live simply and save for his nephew and niece. Responding to this, financial planner Kurt Suppe said, such savings are important when building wealth, but once a person has accumulated large assets and retires, he needs to retrain himself to enjoy spending.