How much is enough? Building financial confidence for retirement
I chat to Peita Diamantidis from Caboodle Financial Services to understand how to build confidence with money, working through the emotional side of finance and figuring out what enough looks like.
“How much is enough?”
It’s probably the most common question I hear from people approaching retirement. And it’s easy to understand why — we’re all trying to figure out how much we’ll need, how long it needs to last, and how to know we’re going to be okay.
The idea of spending your retirement savings, after decades of squirrelling it away, can feel like a foreign concept. Most people find there’s a fear to spending that they have to overcome.
And so this week on Prime Time and as part of Epic Retirement Month, I’m joined by the brilliant Peita Diamantidis, financial adviser, podcaster, and all-around money explainer, to talk about how to actually feel confident about your retirement money.
Peita shares a clear framework for thinking about spending in retirement, and why confidence doesn’t come from spreadsheets — it comes from knowing how your plan works. We talk about buckets, boundaries, one-off costs, guilt-free spending, and how to shift from “saving at all costs” to actually enjoying the life you’ve earned.
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
Highlights of the conversation:
How to define what “enough” means for you: based on your lifestyle, not just a generic benchmark
The three buckets: a practical framework for retirement spending (including big lumpy expenses like holidays and renovations)
Why a personal budget is your best planning tool and how to use it without feeling boxed in
The emotional side of money: why confidence often matters more than financial literacy
Peita’s tips for turning your retirement into a project: with regular “money dates” to stay on track
How to stop hoarding your savings and start enjoying them (without guilt)
Why women often struggle with money confidence and how to flip the script
Plus: the surprising difference between income and wealth in retirement, and how the right system gives you the freedom to live well.
From Bec’s Desk
Hey Primetimers! Happy week two of Epic Retirement Month. So many people are retiring this month all over the country, it’s a real thrill to be able to organise lots of education to help everyone grasp the basics as they head into the next stage, slowly or quickly.
We’re thrilled to have the support of Hostplus as a key sponsor of the Prime Time podcast for the whole of Epic Retirement Month too. They really care about everyone’s retirement confidence - and want to help us make a difference. Three cheers for that!
Now, I need your help. The last show of the year is going to be a ‘Bec’s mailbag’ a show with your letters, your stories and your questions so please send them in now to bec@primetimers.net.
There’s a batch of cool things going on right now:
An extract of the new edition of How to Have an Epic Retirement ran in The Age, The Sydney Morning Herald. [And there’s no paywall on it]. This is one of the foundational lessons of how life unfolds in stages - so if it interests you to ‘taste’ what’s in the book, jump in and have a read here.
The new edition of How to Have an Epic Retirement, the book, has arrived in stores across Australia and New Zealand this week - it’s almost a complete rewrite - fully updated and improved! It’s 100 pages bigger, as well as clearer and more comprehensive, with a stack of new sections to help you navigate modern retirement with confidence. Order your copy here.
And, to celebrate with everyone retiring - we’ve released a free 16 page Epic Retirement Starter Kit - which you can download now. Get your copy of the The Epic Retirement Starter Kit here. It’s just for Epic Retirement Month so don’t delay. Go get it!
I’ve decided to take my social media more seriously - I hate algorithms but I have to do it anyway, so I’ve started releasing easy, light retirement lessons on social. If you want to see them in your feeds, follow me at Facebook.com/becwilsonepic or Instagram.com/epicretirement. See you online.
Finally - a fun poll.
And that’s it - go listen to this great show! Peita is super-smart. And have a great week. Especially if you’re on the road to retirement this month!
Cheers
Bec
