Rethinking How Much You Will Spend in Retirement
Too many people get stuck on thinking of a big number for their retirement saving goals without thinking about how much they will actually spend in retirement. For most people, their expenditures drop by 20%. However, this does not mean people are saving too much, rather it’s the opposite, most do not save enough. It is too easy to get tricked by a big number in your savings account and not actually think about how fast that may run out when you have no or limited sources of income. It is also all too easy to underestimate some of your costs in retirement. For more information on this topic, visit this article by Richard Eisenberg with Forbes.