Thanks everyone for tuning in! As we continue our review season with clients, it’s a friendly reminder of how important a retirement spending budget is! This is a key input your financial advisor must know to run accurate projections for you. Remember, the outputs are only as good as the inputs.
In our last episode, we talked about how important an assumed retirement age is. This week, we will focus on projecting how much you’ll spend in retirement.
This is a very personal question that is tough to fit into a “rule of thumb.” However, I’ll focus on discussing a few rules of thumb and ways you can project an accurate spending number. From there, we’ll talk a bit about some research in retirement spending phases and how that will impact your projections.
And finally, I’ll talk about some of my observations on retiree spending patterns based on my years of practice.
I hope you enjoy today’s episode. Make sure to give us a follow if you’re interested in how to plan for retirement.
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