Let me start with this: DW and I are NOT good at controlling spending. If we have money in our pocket, we spend it.
So I have always controlled our spending by limiting how much we had each month. For a while we even went to cash only.
In retirement I would like to replicate that. Generate a weekly pay check from our withdrawal buckets and split it into His, Hers and Ours. That would not include the lumpy items from the budget like large purchases or travel, but just the impulse buys and discretionary stuff.
I'm curious how others manage the retirement paycheck. Do you have scheduled withdrawals into spending accounts? Set amounts? How do you manage it as a couple? What are the technicalities of doing that from multiple providers(Fidelity and Schwab)?
"Discipline" might be the answer but I only get that by imposing it systematically.
I will have a short, medium and long term bucket strategy but I don't want easy access to that short term bucket all at once.
So I have always controlled our spending by limiting how much we had each month. For a while we even went to cash only.
In retirement I would like to replicate that. Generate a weekly pay check from our withdrawal buckets and split it into His, Hers and Ours. That would not include the lumpy items from the budget like large purchases or travel, but just the impulse buys and discretionary stuff.
I'm curious how others manage the retirement paycheck. Do you have scheduled withdrawals into spending accounts? Set amounts? How do you manage it as a couple? What are the technicalities of doing that from multiple providers(Fidelity and Schwab)?
"Discipline" might be the answer but I only get that by imposing it systematically.
I will have a short, medium and long term bucket strategy but I don't want easy access to that short term bucket all at once.