Sarah in SC
Moderator Emeritus
Was talking with my boss about this a bit this morning. My own situation is so vastly different than that of our clients that I try to balance the advice we give versus the advice I should consider for myself.
I figure on coming up with the basic expenses that I'll have "forever" and separating that mentally from the "extra" money we will want to spend in the early years of retirement. If I know our base is covered, I will feel more confident in spending more early on. Though honestly we will likely be living bare-bones always, which suits me fine, but wouldn't be what I'd probably recommend for others.
I figure on coming up with the basic expenses that I'll have "forever" and separating that mentally from the "extra" money we will want to spend in the early years of retirement. If I know our base is covered, I will feel more confident in spending more early on. Though honestly we will likely be living bare-bones always, which suits me fine, but wouldn't be what I'd probably recommend for others.