Financial Planner Kevin Lum's Retirement Reset: Eight Habits to Leave Behind After 60

For many, the transition into retirement is less about a change in daily routine and more about a fundamental shift in mindset. Kevin Lum, a Certified Financial Planner (CFP) and influential voice in retirement planning through his popular YouTube channel, argues that true security and happiness post-career require letting go of certain long-held habits. In a recent video that has resonated with a wide audience, Lum detailed eight specific behaviors individuals over 60 should consider abandoning.

"The goal isn't just to retire wealthy; it's to retire fulfilled," Lum states, challenging conventional wisdom. His advice moves beyond spreadsheets to address the psychological and emotional traps that can undermine a rewarding retirement.

1. Stop Obsessing Over Money. Ironically, from a financial planner, comes this first rule. Lum observes that constant monetary worry often correlates with unhappiness. "Understand your numbers, have a plan, but then free your mind. The savings were meant to buy freedom, not anxiety," he advises.

2. Stop Using Money as a Scoreboard. Viewing net worth as a competition with moving goalposts is a recipe for perpetual dissatisfaction. "You never feel like you've 'won,'" Lum explains. He recommends treating money purely as a tool to enable desired experiences and security.

3. Stop Saving Like You're 40. For those who have achieved financial security, relentless accumulation can become counterproductive, potentially leading to unnecessary work or forgone joys. Lum advocates a shift to "purposeful decumulation"—intentionally spending on what truly matters.

4. Stop Voting for 'Stuff.' Every purchase is a vote for a lifestyle, Lum argues. Choosing possessions often means choosing maintenance, insurance, and clutter. "Vote instead for time, independence, and flexibility," he suggests.

5. Stop Neglecting Your Health. "Your portfolio is not your most valuable asset; your health is," Lum emphasizes, noting that a health crisis can swiftly alter any financial equation. He stresses that the 60s are a critical window for prioritizing physical well-being.

6. Stop Faking Your Image. Maintaining an inauthentic lifestyle carries a heavy "tax" in money, stress, and freedom. Lum shares an anecdote of a client who bought a luxury car he despised. "Retirement is your chance to stop performing for others and start living for yourself."

7. Stop Trying to Time the Market. Lum dismisses market timing as a futile focus. "The happiest retirees aren't market geniuses; they're people with a resilient plan for all conditions and the discipline to stick to it," he says.

8. Stop Taking Time with Family for Granted. Citing writer Sahil Bloom, Lum highlights the finite nature of time with children. This perspective should reshape spending: "Treat experiences like investments, not expenses. Money can buy that plane ticket to visit while you still can."

Lum's framework has sparked discussion among financial advisors and retirees alike, highlighting a growing focus on the holistic, non-financial aspects of retirement planning.

Reader Reactions:

"Finally, someone said it. I retired two years ago but was still glued to my portfolio statements. Lum's advice to see money as a tool, not a score, was the permission I needed to finally book that extended European tour with my wife." — Robert Chen, 67, former engineer.

"This is privileged nonsense. 'Stop saving'? Tell that to the millions facing soaring healthcare costs and stagnant pensions. It's easy to preach 'purposeful decumulation' from a YouTube studio." — Maureen Briggs, 62, part-time retail worker.

"The point about health is paramount. We adjusted our plan to budget for a fitness trainer and healthier food options. It's the best investment we've made, reducing anxiety about future care costs." — David & Priya Sharma, 64 and 63.

"The 'stuff vs. time' argument hit home. We're downsizing this year. The relief of less maintenance means more mental space for our grandchildren and hobbies." — Linda Cartwright, 71.