Name: Accumulating Assets Is Easy. Helping Clients Spend Is Harder.
Uploaded: 2025-08-14T14:57:00Z
Duration: 2 min 11 s
Description: “The biggest issue I have as a financial advisor, quite frankly, is convincing our clients that they can live above the means that they're currently living in,” says Riley Saunders, a financial advisor at Cassaday & Company.

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“The biggest issue I have as a financial advisor, quite frankly, is convincing our clients that they can live above the means that they're currently living in,” says Riley Saunders, a financial advisor at Cassaday & Company.

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Accumulating Assets Is Easy. Helping Clients Spend Is Harder.

Money vigilance is commonly seen, in my opinion, as the good script.

Okay.

And I don't agree with that and I can get to that later. But effectively, money vigilance is having a understanding of how money operates and works and using that to your advantage. And typically that involves a lot of accumulation of money. You know, not wanting to spend top dollar on the best brand when the next brand down does the job just the same and is half the price. So simple things like that. Being very cognizant of how you're spending and how you are living your life, 'cause you understand that money is a tool to live the life that you wanna live.

'Cause you were the ones that accumulated it, it sounds like, during that time.

Right.

Okay.

Right, but the reason why I think it's not as black and white, good or bad, is because the biggest issue I have as a financial advisor, quite frankly, is convincing our clients that they can live above the means that they're currently living in.

Oh, interesting.

Right. So if you, if you think about it, it actually makes sense. So I like to equate it to going to the gym. If you go to the gym for 10, 20, 30 years, you know, every week, you start to build those muscles up and you start to get stronger and stronger and stronger. And that's effectively what people are doing when they're saving, when they're being money vigilant. They're saving and saving and saving for decades of their life, the majority of their life. And one day out of nowhere, the switch just arbitrarily flips. And you go from a working person to a retired person. So from the accumulation to the decumulation phase. And it's really hard when you've been effectively working out for so long and doing things so routinely to effectively give yourself the permission to spend the money that you work so hard for.