Showing 50 results of 309
Ben has been a saver his entire life, which helped position him for an early retirement at the age of 53. Yet, he faces a big challenge. Having maintained his modest lifestyle, Ben’s comfortable...
I'm a few months into retirement, my wife is still working till next June. One of the things we're trying to do--and were starting before I retired--is transitioning our spending on routine items away...
2025 will be a banner year for retirees. In January, a hard $2,000 cap on how much they spend out of their own pockets for medications kicks in. Retirees should welcome the new, much lower spending li...
When retirees have more guaranteed lifetime income, they spend significantly more than those with a lot of investments....
Derek Tharp explains how risk-based guardrails can provide a better retirement spending plan than the 4 percent rule would allow....
The 50/30/20 ratio for working folks is widely available but I haven't found anything comparable for retirees. Is there some ratio recommendation for those retired? In our case (couple) we are spendin...
Taking legal control away from an impaired elder's access to free spending can make them mad. But the risk of their anger is worth it. Family can stop financial abuse....
Jonathan Clements, a longtime personal finance columnist for The Wall Street Journal, has a lot of savings. He’s not mad that a fatal illness will keep him from spending it....
We get it - not everyone wants to spend much money on phone number location services. Or maybe you'd just want to track a number once and not be bothered by a whole year subscription. So, here come so...
Hey all, I am retiring in 84 days (not that I'm keeping track) I have been accumulating for a long time. I am thinking its going to be a struggle to no longer be saving the same way and having to spen...
The key to beating inflation in retirement is to account for it and incorporate it into your plan....
What if you had a magic app that told you how much of your net worth you never got to spend at the end of your retirement? The trouble with planning for retirement is all the uncertainty, however, pro...
In mid-2024, Americans are still facing high inflation and high interest rates. And they are saving less and spending less. According to data from the Commerce Department, “The personal saving r...
Wondering how much to spend on vacation while being fiscally responsible and still having a good time? In this post, I offer a vacation spending guide to help you manage your spending responsibly with...
I recently discovered a buzzword called “spaving,” which combines spending and saving. It sounds odd – spending money to save ... Read more...
We're looking at going to New Zealand and Australia, then cruising to Hawaii, then coming back home to Boston. When we went to Hawaii our first time, we broke it up by spending a couple of days in Cal...
Interested to know how you track spending v your budget. We are semi-retired w a variable income that we do not figure into our income so taking withdrawals down savings and not tapping SS until 70 pe...
Navigating the risks to retirement, maintaining security and transforming your spending strategy from a “save-only” mindset in order to enjoy your retirement. Today, we’re tackling a...
[Editor's Note: For those who want to inspire the WCI community and teach the knowledge they’ve gained in the financial and/or wellness spaces, we are officially calling for WCICON25 speakers. W...
I use the free Fidelity retirement planning tool to keep an eye on our current investments relative to our spending. Using that tool revealed two fundamental drivers of financial success in retirement...
So I have been retired for about 3 years now and my goal was to try new things and to keep myself active and sharp by leaning new skills. When people ask me what my hobby is I tell them I am a skill c...
The impact of saving more, spending less later and benefiting from an extra year or more of compounding can be truly staggering....
I retired literally on the day before the US stock and bond markets began to tank in 2022. So starting my retirement while watching the value of my portfolio go down and down and down while inflation ...
Nice to see two more recent articles in the retirement income press discussing the advantages of dynamic retirement approaches like ours that use guardrails to adjust spending in retirement. These two...
Ongoing planning in retirement involves periodically assessing whether spending may be increased or must be decreased to remain on track. In his recent Kitces.com article, How Communicating Guardrails...
Like many of us, you have been working and saving for decades for just this moment: retirement. Even though you ... Read more...
Over on the wiki for this sub there are no less than 33 retirement calculators. Many are used in the FI community to figure out what their 'number' is, not so many are designed to figure out a few har...
Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below for more answers to listener questions about...
Last month, I published a guest post from David Champion about the benefits he’s derived from gamifying his retirement spending. A discussion developed in the comments related to the challenge o...
Today’s guest post is from David, a long time blog reader. He retired early at age 52. In the five years since, he has lived exclusively off of his investments while leading an adventurous lifes...
Should Brian in Binghamton, New York pay off his mortgage for a guaranteed 6% return? How bad did Steve in Pittsburgh screw up his retirement, and can he afford to buy a new house away from his a-hole...
As discussed many times in this website, the Actuarial Approach employs a model and a process that involves systematic comparison of household assets and liabilities and tracking of the resulting hous...
Many financial advisors employ time segmentation buckets (sometimes simply referred to as “bucketing”) to help their clients fund their desired retirement spending. This usually involves t...
Just over 3 months ago, I made a post called Pre-Retirement Senioritis, and I felt pretty badly about not getting certain tasks done, spending large chunks of my day planning for retirement. Many of y...
I just read at article that cited a T Rowe Price survey which found that half of those surveyed reported that their annual spending increased by up to 25% after retiring. This was surprising because c...
For countless retirees, the greatest challenge isn't saving money, but spending it. After years of diligent saving, the transition to drawing down those hard-earned funds can be fraught with anxiety a...
The intergenerational-conflict myth is weaponized to cut Social Security and Medicare and make people work longer. The intergenerational – conflict myth intones that politicians who cut spending...
We often try to overcomplicate finances, but simplicity is the key. That’s not to say simplistic: simple doesn’t equal simplistic. On this episode, we wrap up our Wisdom for Our Children s...
During the working and saving years, there are various rules of thumb about how to apportion earned income. For example, there is a 50/30/20 rule that breaks things up into percentages of Needs, Wants...
This is Part 2 of a 3 part post. If you missed part 1 last week, check it out here. Can money buy happiness? It’s a great question! And it’s complicated… Investing Versus Spending I...
3 steps to getting a solid handle on your retirement savings in this shaky market....
As Congress battles over spending and House leadership, retirement advisors are losing faith in the U.S. economy....
Playing games is one of the many ways to make money online. While it isn’t necessarily the most profitable, if you’re already spending time going ham on bingo or honing in on your Tetris s...
Sept. 8, 2023 — The number of people using Medicare has grown steadily as baby boomers become eligible. But defying predictions, spending per Medicare recipient has levelled off, which brings un...
Bryan Johnson is spending millions of dollars each year towards a singular ambition—to slow his aging. His meticulous morning routine begins with light therapy during meditation. He follows this up ...
Recently closed a house and after all closing costs, I will have $1m cash on hand. Anticipated Retirement Income: $80,000. Age 60. Anticipated SS: $44,000 annually. 401k: 750k, currently in retirement...
I've read through some posts about people being afraid of spending their 401k and most responses assume you aren't depending in the 401k to be your main source of income. The only pension I have may b...
It seems that every other article we read these days in the retirement media involves someone’s thoughts about how best to withdraw funds from accumulated savings to supplement income from other...
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Anyone retire early then find out the numbers didn't quite work? If so, how did you make it work? Did you just adjust your spending? Or did you get a part-time job or even go back full-time? Some comb...