Bovard isn't surprised by the psychology at play among those who resist post-retirement spending. "You spent 40 to 45 years accumulating this pot of money, and you did it by saving and saving and scrimping," he says. In response, he tries to work with clients, especially during the early years of retirement, to "bump that expense level up a bit" and factor in the cost of various trips and activities they have expressed an interest in but haven't had the time to do until retirement. Joe Mont. >To follow the writer on Twitter, go to http://twitter.com/josephmont.