Excerpt from Investor’s Business Daily, published February 8, 2019

At first blush, it might be tempting to label people as selfish who want to spend all their savings on themselves. But advisors know better.

"It can reflect a deep-seated feeling about how they are looking forward to enjoying their lives after years of hard work, particularly if they've been in a job that wasn't enjoyable," said Eric Walters, a certified financial planner in Greenwood Village, Colo. "Their children may be well off so they don't feel they need to leave an inheritance. It's not coldhearted; it's a feeling they've waited a long time for this."

Furthermore, advisors may not necessarily take a client's declaration to "die broke" at face value. Through gentle questioning, they might uncover deeper needs and motivations.