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Record market highs can present an opportunity to retire earlier than planned, provided your strategy relies on spending control, risk management and more.
An HSA for retirement may help cover future healthcare costs while providing 3 tax advantages: pre-tax contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. Common H...
A while back, I came across a thread on Reddit that asked this question: what expenses do you regret avoiding to reach FIRE? The post Do People Who FIRE Regret Not Spending Money on Things They Could ...
After decades of saving, many affluent retirees find spending harder than accumulating wealth. Here is why money habits are so hard to break — and how to finally enjoy your savings.
Many people assume that only major decisions move the needle on wealth. However, lifestyle creep can sabotage savings goals without you noticing. Each time you choose to upgrade your car, expand your ...
My (M58) and my wife’s (F57) parents are in their 80s. My parents have sacrificed throughout their lives and have built a very substantial nest egg with my father’s financial expertise and planning. M...
Assumptions regarding how long you and your spouse, if you have one, plan to survive in retirement are central to determining your funded status. These assumptions — your lifetime planning period assu...
Shifting from saving to spending in retirement requires a new way of thinking. Answer these five questions to find out if you're ready for this next chapter.
I’m retired a few years earlier than I meant to do, and have been living on my IRA for the past year, and will also live on it for the coming year, until I’m able to start claiming SS as well. I don’t...
Turning 45? Retirees reveal the biggest investing, saving, and spending mistakes they made during their peak earning years—and how to fix them today.
In this summer replay, Roger talks with Dr. Daniel Crosby about learning what to ignore in an age of information overload. They explore how to filter financial advice, align decisions with your values...
December 31st is the date. Plan is in place, and I'm working with the company on interviewing my replacement. I'm already working through the healthcare options. What other steps should I do while I s...
Present value is the organizing principle of the Actuarial Approach recommended on this website. Retirement sustainability ultimately depends on a single question: Can the present value of your assets...
Why wait until December to review your financial plans? You'll have a clear enough picture of income, spending and investments to make meaningful decisions now.
Past 3 years into retirement, I plan and do some foreign trips. That included the U.S. --New Mexico, Chicago and northern Minnesota in fall. Also threw in 2 wk. trip in Italy last yr. This yr. my driv...
What does it actually mean to win at retirement? A bigger house, more expensive vacations, and a larger income during your working years may look like success, but they don't necessarily determine how...
Retirees often overpay their taxes because they mix up their cash flow, income and actual spending. Understanding the differences can help you stay in control.
Laura Stover, RFC® is joined by guest co-host Darlene Tucker, CFP® today. This week's weekend brief comes from Forbes: "5 Predictions For An Economic 'Soft Landing' That Were Totally Wrong." With a lo...
Retirement planning involves mitigating risk and understanding the various risks that retirees face. Laura Stover and Michael Wallin break down these risks today, including reduced earnings capacity, ...
Being flexible with spending absolutely matters in financial planning and it often gets overlooked when people step into retirement. Most people look at their budget and the assets that they've accumu...
I can't believe it… It's been 10 years since I left my job! What a wild ride it's been. I'm more content with my life/finances than I've ever been before, but I'm also more unsure about what the futur...
Research supports the idea that money does buy happiness. Here’s how spending choices matter as much as how much you save. The post Does Money Buy Happiness? Yes, If You Spend It Right appeared first ...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast number 594, Joe Anderson, CFP® and Big Al Clopine, CPA spitb...
Today, I'm excited to welcome Bill Perkins to the podcast. Bill is an entrepreneur, hedge fund manager, investor, and bestselling author of Die With Zero: Getting All You Can from Your Money and Your ...
Is fear keeping you from spending the money you worked so hard for? Take our quiz to uncover the mindset holding your retirement back.
August is encore month on the Retirement Answer Man podcast, giving Roger an opportunity to step back, reflect, and revisit some of the show's most impactful conversations. This week, he replays his d...
Sustainable retirement spending begins with quantifying the present value of your essential expenses and then allocating the remaining funded status toward discretionary “menu items” such as travel, h...
Fall spending often increases because back-to-school costs, seasonal expenses, holiday travel, and gift shopping happen within a few months of each other. Preparing for those expenses now may help you...
When it comes to a confident retirement, what if the biggest risk isn't running out of money, but waiting too long to enjoy it? As part of our "Freedom After 50" series, author Mike Drak explores: Why...
Federal Reserve, JPMorgan, and Boldin’s own planning data point to the same story for millionaire retirement spending. Here’s the math. The post Millionaire Retirees Spend $70,000 to $120,000 a Year. ...
What if budgeting wasn't about restriction, but about giving every dollar a purpose? This week, Roger sits down with Jesse Mecham, founder of YNAB (You Need A Budget), to discuss the power of intentio...
Retirement planning is often dominated by withdrawal rules, Monte Carlo probabilities, and portfolio‑centric heuristics. But none of these tools directly measure the core financial question every reti...
I recently got an e-mail from a reader who’s on the fence about having kids, wondering why we decided to have a kid, and how they can make the decision. I told him while I couldn’t give them the answe...
Schedule a Free Financial Assessment with an experienced professional: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=free-assessment&utm_content=ym...
Planning for retirement can feel overwhelming, especially as you approach the transition from earning a paycheck to relying on your savings. The early phase of retirement brings unique challenges, and...
A couple of weeks ago, a relative called me with this question: Should I buy an electric vehicle? She was concerned about high gas prices. I explained to her that since she already had a car that work...
One of the greatest ironies in personal finance is that the people with the most money sometimes live the most uncomfortably. After spending another summer in Honolulu with my parents, I've been think...
Many users have told me they aren’t always sure how to enter their assets and spending liabilities into the Actuarial Financial Planner (AFP) Excel workbooks. That’s completely understandable — the ac...
Though this isn't special to retirement, retirement does tend to accentuate the difference because you're living as you'd like. It's also not unusual at all for spouses to be completely different in t...
With the World Cup on, I've been thinking about all the parents currently spending $3,500 to $7,000 a year on travel league soccer, dreaming their child might one day wear the national team jersey. So...
This week Roger talks about one of the biggest challenges retirees face today: information overload. He explains why more information doesn't always lead to better decisions and why building a great r...
Retirement researchers increasingly recognize that real spending does not remain flat throughout retirement. As Dr. David Blanchett emphasized in his recent Think Advisor article: “Integrating reduced...
Preventive health spending is a type of risk management that can lower future costs while protecting your health and your money. Here's how it works.
What tools or methods do you use to keep track of your monthly spending? I prefer organizing my expenses into categories so they align with my overall budget totals each month, which helps me stay on ...
What if I told you that you might be better off spending more?
Households often have assets they expect to use during retirement that are not level streams of income, as well as expenses that are not expected to recur every year. These items need special handling...
This July 4th is America’s 250th birthday, and spending is expected to hit record levels. But budget-friendly 4th of July celebrations are absolutely possible with a little planning. Here are 7 ideas ...
Are you winging your retirement spending? Financial expert Jean Chatzky explains why a lack of a concrete plan is preventing retirees from living their best lives.
I recently met with a 71-year-old retiree who relies on Social Security for a sizable share of her retirement spending. She’s concerned about recent news that the Social Security retirement trust fund...
We have an annual spend of about $70k, but that includes some travel, a fair amount of entertainment, and not really managing things too closely. We know we could also get by in reasonable comfort on ...