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Financial Assessment (Meet with an experienced professional): https://bit.ly/PureFreeAssessment 11 rapid-fire spitballs today from Joe Anderson, CFP®, and Big Al Clopine, CPA, on Your Money, Your Weal...
You've accrued wealth to finally retire, but your "best" retirement involves learning how to enjoy the life your wealth was meant to support. As part of our "Freedom After 50" series, hospice doctor J...
I am 63 and married for 30 years - husband is 67 and retired from corporate 2+ years ago. We are financially sound - our FA says we are in great shape with nothing to worry about and that I can retire...
Hello, I am recently retired. I am not collecting SS yet. I am living off of my wife's small income and a severance I received from work. I have a very healthy 401k balance a few small pensions so we ...
Prudent retirement planning requires using a planning horizon longer than your life expectancy. In prior posts we have recommend using the Actuarial Longevity Illustrator and the three-step process ou...
Retirees can trade financial anxiety for peace of mind by adopting these practical habits that build on structure, flexibility and consistency.
Take the time to reduce your anxiety about spending money in retirement, and you’ll feel better about spending money on things that make you happy.
Most retirement advice isn't wrong. It's incomplete. And following incomplete advice for 30 years is how people end up financially ready for retirement but completely unprepared to live it. I've seen ...
This week in Kiplinger:https://www.kiplinger.com/retirement/happy-retirement/master-the-art-of-spending-in-retirement No wonder, then, that many retirees at all levels of wealth are pulling the reins ...
My wife and I have been circling this for a couple of years (okay, 5!) and we finally started running countdown timers in our phones: she plans to stop at 59, and me at *ahem* exactly 60.8 (at this po...
Many people find it tough to shift from saving to tapping wealth once they stop work. Here's how to enjoy your money more — without fear of running out.
Any thoughts or advice would be appreciated. I'm 59½ years old. I've worked and saved for decades and am fortunate to be in a very strong financial position. My total portfolio is about $2.6 million, ...
I retired last year and have noticed an interesting change in my grocery shopping habits. When I was working and commuting I generally went shopping once a week and tried to buy everything I needed fo...
Back story: - 2015 Spouse retired at 65 and receives SS. - 2021 I retired at 64.6 and receive a monthly pension and SS. - Prior to retirement, we were able to save ~300K in cash. ~400K in 401. In 2014...
Today, I'm honored to welcome Bill Bengen to the podcast. Bill is widely known as the father of the 4% Rule and as one of the most influential retirement-income researchers in history. His groundbreak...
Reframing splurges as "intentional reallocation" of money can help you overcome spending anxiety and enhance your quality of life. Here are some suggestions.
We recently came across a Monte Carlo modelling tool called the Retirement Probability Simulator (RPS). It is a free tool available at DIYretiree.com that our readers may find useful in their financia...
After a lifetime running a business, spending hours on the golf course, or any other hobby, sounds like a dream retirement. In reality, boredom will soon set in.
Most of us focus on how much to save for retirement, but what you'll spend is just as important, and your spending habits might change more than you expect.
Roger Whitney explores the idea that retirement always involves both excitement and uncertainty. While people spend years gathering information, running projections, and refining plans, there comes a ...
We are pleased to announce that Microsoft Copilot is now an integrated part of our “How Much Can I Afford to Spend in Retirement?” team. Copilot enhances our actuarial approach by providing structured...
Shifting your identity from working and saving to spending and living can be tough, but here's why you need to do it for yourself and your family.
Joe Schmitz Jr. and Jeremy Keil explore the 2% Club of retirees and the unique challenges that come with significant retirement savings and a pension. https://youtu.be/G04JKpKyLJ0 Most retirement conv...
I find out spending way more partly because we have more time and focusing on stuff like fixing up house and garden and eating out more though since we are doing that focusing on healthy lower cal pla...
Lucky Lou is 48, burned out and wants to punch at 50. How should he bridge the gap before pensions and Social Security? Joe Anderson, CFP®, and Big Al Clopine, CPA walk through the Rule of 55, 72(t)s,...
It's easy to lose track of spending when you're focused on your family and career. But this is what you're risking when you don't save or protect your income.
I'm hanging out with my four-year-old grandson, he's on my lap talking away, but my mind was elsewhere. I was thinking about the future. I wasn't focused on him at all, but rather an important convers...
There are bad ways to spend your HSA, good ways to spend it, and great ways to spend it. Let's discuss how we decided to spend our HSA. The post 4 Reasons Why We’re Spending Our HSA Money — And Why Yo...
A big single-stock win can feel like freedom one day and a tightrope the next. This plan walks through how a family holding ~$15M in NVIDIA shares can turn concentrated success into stable, low-stress...
In this post, we discuss how you can use the Actuarial Approach and its funded status metric to help you feel more confident about your spending plan in retirement. It is a follow-up to our post of Ja...
Erin Moriarty of Erin Talks Money explores the emotional side of money, retirement spending, and how AI is reshaping financial planning. The post Podcast 109: Personal Finance for Real People: DIY Inv...
Retirement spending estimates are often too low, but a retirement spending plan can change that. Here’s how to keep your money from running out. The post Retirement Spending Plan: How to Know If Your ...
Roger Whitney kicks off a new series on decluttering for retirement, explaining how the accumulation of “stuff”—from physical belongings to financial accounts to relationships—can unconsciously shape ...
Going from accumulator to decumulator is not like flipping a switch. It’s psychologically recalibrating your entire money life. The post The Psychology of Spending in Retirement appeared first on The ...
Spending in retirement often starts off strong then tapers off, so why rely on planning methods that assume it stays constant? Here's a more realistic approach.
How trading your savings today will give you a permanent raise tomorrow.
Many plans focus on how much has been saved, but it's how much you spend that ultimately determines whether your plan works.
One of the more common retirement concerns I hear from new subscribers is the transition from saving for retirement to spending retirement savings. During our careers, we’re programmed to sacrifice sp...
Dr. Wade Pfau explains four ways to beat sequence of return risk and turn your retirement savings into retirement income. For most of your working life, retirement planning feels relatively straightfo...
One of the biggest fears people carry into retirement is running out of money. But for many retirees, the greater risk is something else entirely. Running out of time. In this episode, James Conole, C...
Lifestyle creep can quietly influence long‑term financial security. Here's how to check in on your spending and realign with your goals.
What if waiting until you're "fully ready" for retirement is actually costing you some of the best years of your life? Topics covered in this episode: The controversial "retire at 80%" framework Why m...
Spending more time managing your health in your 70s and beyond is part of the “new normal” of extending healthy longevity to your later years.
Physicians have gotten better about entering retirement with serious financial muscle. Yet many still struggle with peace about actually spending ... Read more
"Chase and Ryder" are 56 and 55 with $5 million saved and huge pensions the day they retire. So why are they so nervous about pulling the trigger? That's today on Your Money, Your Wealth® podcast numb...
Playing it too safe could mean trips not taken, educations not funded, life not enjoyed. Don't abandon caution — just build contingency plans for your portfolio.
Today I had a funny interaction with a friend who is just now starting his retirement but hasn’t yet adjusted. We were discussing plans on spending a few days at his cabin along with another recently ...
I retired almost a year ago and still often feel like I’m settling in. I’ve had several large and small projects that are keeping me busy, but I’m also learning to relax and not worry about deadlines ...
We’ve all read the research about the “Go-go, slow-go and no-go” periods of retirement and decreased real-dollar spending as we age, but contrary to observed research, most decumulation strategies tod...
[Long] This might be one of those “Shut up, good problem to have” things, but I honestly don’t have a grip on it. I’ve been retired for 2.5 years and in 6 months, I’ll claim Social Security when I hit...