Living longer with more
You may have heard from financial ‘gurus’ that you will need less money in retirement than you need now. How can that be true? After you stop working full-time, you may need a less formal clothing wardrobe and travel less to and from your workplace. But what about ongoing costs? Staples such as groceries, petrol, utilities and rates expenses continue and will increase over time. Perhaps with a fixed income you have more discretion for entertainment, travel and other enjoyable pursuits. However, in general, your lifestyle continues in retirement. Plan now for the same, if not more, income than you have now. When you stop working full-time, plan to live the life you want, assured of the income to do what you want.
Posted by Helene Strawbridge on 18th December, 2011 | Comments | Trackbacks
Tags: positive aging, positive ageing, transition to retirement, planning for retirement
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