Many high-net-worth individuals are afraid to spend the wealth they've accumulated. Wealth advisor Glenn Ullmann advises that if they don't enjoy their money, their children will spend it after they're gone. This reframes spending as a personal choice about present quality of life versus posthumous transfer.

The disciplined habits that build wealth often become barriers to enjoying it. For those who struggle to spend, the solution is to practice. Start with small, meaningful expenses to break the inertia of delayed gratification and build the muscle for guilt-free consumption.

Instead of focusing solely on numbers, Ullman Wealth Partners creates a graphical “life map” for each client. This involves asking about their greatest accomplishments and biggest obstacles, which reveals deep-seated values and fears that dictate their financial behavior. This human-centric approach builds trust and leads to better planning.

Many successful people make more than they let themselves spend. Anne argues you must intentionally 'up your expensive game' by making progressively larger purchases. This normalizes spending and closes the gap between earning and living, preventing you from 'strangling' your money.

To avoid emotional spending that kills runway, analyze every major decision through three financial scenarios. A 'bear' case (e.g., revenue drops 10%), 'base' case (plan holds), and 'bull' case (revenue grows 10%). This sobering framework forces you to quantify risk and compare alternatives objectively before committing capital.

Instead of a restrictive budget, create a "personal spending plan." Automatically handle saving, investing, and taxes first. The remaining income is then available to be spent happily and without guilt, removing the energy drain from constant micro-decisions. The structure does the work.

To combat the tendency to hoard money, Anne sets a minimum monthly spend of around $200k. If she's under budget, she proactively gives money away or books experiences, forcing herself to live the life her wealth affords rather than letting it accumulate passively.

To help wealthy clients approve large expenditures, show them how it compares to their portfolio's passive income from dividends and interest. Framing an $80,000 trip as “a month and a half of income” is psychologically easier to accept than viewing it as a deduction from their total net worth.

Clients seek financial advisors less for complex calculations and more for the psychological comfort and permission to make major life decisions without anxiety. The core business is anxiety relief, with quantitative support playing a secondary role.