Turn up the right money dials in retirement
A simple approach to spend your money where it matters
First, an update for my clients and others of you interested in signing up for or reviewing your Medicare or Marketplace health insurance in the coming weeks…
From my health insurance partner, Jaclyn, at Move Health:
…with the current government shutdown, we do not have information at this time for what is going to happen with the marketplace. We usually are able to see the Medicare plans for the upcoming year by Oct 1 but that has also been impacted by the shutdown. Clients can go ahead and schedule calls but we may not have information for them at the time of their appointment and they may have to have another call later in the enrollment period to finalize plans.
If you have questions about this or would like to go ahead and get on Jaclyn’s schedule, please let me know.
Otherwise, for those of you who have worked with Jaclyn in the past, she’ll be reaching out to schedule a conversation with you soon.
A client asked me last week, “Can I spend more on the grandkids and still be okay?”
My answer: Yes!
But only if you spend purposefully.
Retirement isn’t about spending less.
It’s about spending based on your personal priorities.
Where it matters… to YOU!
We each have our own unique spending preferences.
These are areas where spending gives you joy, meaning, and fulfillment.
When you turn up the right dials — and turn down the rest — you get a higher “return on life” and fewer regrets.
Where did this idea come from?
Ramit Sethi calls these “Money Dials.”
I like the idea but with a retirement-focused twist.
You choose your top dials, then align your time and money with them.
Here’s a quick way to try it today.
Quick start
Read about each of the 10 Money Dials below.
Circle your personal top three.
Make one small move this month to turn each of them up.
Pick one low-value dial to turn down.
The 10 Money Dials
Convenience
Why: your time and energy are precious.
How: what would make my life simpler?
What: housecleaning, grocery delivery, a travel concierge, a handyman on call, closer parking at events.Travel
Why: a great way to immerse yourself in new cultures
How: which trip would I be sad to skip?
What: an extended family beach week, business class on long flights, a shoulder-season trip when crowds are low, a long weekend with a close friend.Health and fitness
Why: health lifts every other part of life.
How: what would future-me thank me for?
What: a trainer, Pilates, higher-quality food, preventive care, better shoes for long walks.Experiences
Why: peak moments add meaning.
How: what would make this year feel special?
What: chef’s table, concerts with great seats, a pottery class, a guided hike, a cooking lesson with the family.Freedom
Why: more choice and less stress.
How: what buys me flexibility?
What: fully refundable travel, help with childcare or elder care so you can say yes or no with ease, a cushion that makes work optional.Relationships
Why: people are the point.
How: how can I show up more for my favorite humans?
What: fly kids or grandkids in twice a year, host Sunday dinners, plan a birthday trip, fund a fun tradition.Generosity
Why: giving feels good and shapes who we are.
How: where could my giving be joyful and intentional?
What: a donor-advised fund, monthly gifts to causes you love, hosting a monthly meal with family or friends.Luxury
Why: beauty and comfort can enrich your life.
How: what feels quietly luxurious to me (not to Instagram)?
What: tailored clothing, premium sheets, a better mattress, upgraded lodging on a special trip.Social status
Why: sometimes signaling improves the experience, and it’s okay to enjoy nice things.
How: where does status actually help?
What: an elite credit card with useful perks, airline status that saves time, a single statement piece you love and use.Self-improvement
Why: growth compounds.
How: what learning will pay me back for years?
What: coaching, a class, music lessons, a simple book rule—if it looks useful, buy it.
A few tips that make this work
Start small
Pick one dial and make a tiny move this month.
Book the class.
Set the date.
Try the service.
You are testing what “happier” feels like, not building a whole new you in a week.
Remove friction
If the thing you want needs time or energy, buy that too.
Housecleaning can unlock time for workouts.
Grocery delivery can free a calm hour for reading with a grandchild.
Mind the tradeoffs
If a dial goes up, let another go down.
This is not “giving up.” It is choosing.
For example, raise the “Travel” dial and lower random online shopping.
Raise “Relationships” and lower cable bundles you never watch.
Use a simple guardrail
Set a monthly range for “fun money.”
For example: “We’ll spend $XXXX this month on our top 3 dials.”
Review it once a month.
Adjust as life and markets change.
Joy and secuirty aren’t mutually exclusive.
Try this 10-minute exercise today:
Circle your top two or three dials.
Write three “turn-ups” for this year. Keep them small and clear.
Pick three “turn-downs” you will not miss. Old subscriptions, habits, and “shoulds” are great places to look.
Remove one friction point that blocks follow-through.
Make one small dial-up this month. Spend a set amount to test the change.
Two quick examples
Elaine loves family and food.
She turns up the dial on “Relationships” and “Experiences.”
She plans two Sunday dinners a month and books a chef’s table for her birthday.
To make space, she cancels two unused subscriptions and lowers online shopping.
She is spending the same money but getting ten times the joy.
Ruth wants more ease and health.
So she dials up “Convenience” and “Health.”
She hires housecleaning and signs up for a twice-a-week personal training session.
She uses grocery delivery and keeps better food in the house.
She drops a premium cable bundle and a golf club she rarely visits.
She feels better and has her Saturday mornings back.
Bottom line
Money is nothing more than a tool.
Use it to create great days now, not “someday.”
If you want help exploring your Money Dials and thinking about more purposeful spending, I’m here.
Let’s talk about it.
There is no right or wrong when it comes to your money dials.
Your personal dials might be very different from your friends, your family, or your spouse.
But it’s worth taking the time to examine where you’re spending your money and why.
Living a rich life isn’t about how much money you have.
It’s about using your money in a manner that’s enriching to you.
Before I wrap up, here are a couple of health insurance guides you might find helpful:
And a final reminder about the upcoming CareAlly webinar on October 21st which you can learn more about and register for here.
I appreciate your continued readership.
Please let me know if you have any feedback or suggestions for future essays.
Until next Wednesday,
Russ
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