Welcome to Episode 2 of Retire Me. This week I talk about spending in retirement and how to create your own unique spending plan for retirement.
Knowing what your expenses in retirement will be is a critical part (perhaps the most critical part) of planning out your retirement. The adage, "begin with the end in mind" fits well here. We can't estimate how much retirement savings we need until we know how we want our lifestyle to look in retirement.
In this episode, I lay out:
1. Frederick Vetesse's book, Retirement Income for Life
2. How much of your pre-retirement income you are likely to need in retirement
3. Some research on spending patterns of retirees - research referenced:
4. How Mark approaches planning out spending in retirement - segmenting core and discretionary spending
5. Planning out your retirement spending in phases
Thank you for listening!!
The information in this material is not intended as investment, tax, or legal advice. Please consult your advisor or tax professionals.