According to a recent article in the Journal of Financial Planning, which looked at spending patterns of retiree households, the publication found that over a twenty-five year period from ages 60 to 85, the actual annual changes in retirement spending trace a “retirement smile.”...
It’s Complicated
If you’ve been working for quite a while, your financial life has probably been managed to the rhythm of your paychecks. If you’ve managed to stay employed, it’s probably worked well – money comes in and goes out on a nicely predictable schedule. There are times, however, when something unexpected comes up...
Test Drive your Retirement Spending
The “Too Young” Conundrum
Early retirement gives you an opportunity to get away from the corporate world and pursue your interests. But people who retire in their 50s suffer from what I call the “too young” conundrum: they are too young to qualify for government benefits and could face penalties if they try to draw from retirement accounts...