Spending Money in Retirement

We spend years planning for retirement.  For some folks it is maximizing their contributions to the company’s plan, others might add money to IRAs or other retirement savings, and there may be those who plan on living off their pensions or social security.  After all this saving, the question is how best to spend those hard earned dollars.

We talk with our clients about the various buckets.

      • The lights on bucket (what you need to cover basics like shelter, utilities, food, etc).
      • The have fun bucket (travel, splurges, etc.)
      • For some folks, they may want a toss back and earn additional funds bucket (this will help you maintain an income stream)

Everyone has ideas on what they want to do in retirement, whether it is volunteering at a local pet shelter or playing a few rounds of golf.  Our goal is to help you understand how to live the best life during your retirement.

Happiness in Retirement

Our whole lives we have worked hard with one goal in mind. RETIREMENT. We work with clients to make sure they can enjoy retirement. Recently, I read an article that said in order to be happy in retirement have 3 hobbies. These hobbies may include:  bridge, golf, restoring a classic car or gourmet cooking-it is an endless list. The idea is that you fill your time with activities that add to your life.

I particularly like the idea of volunteering my time. Whether it is holding a baby in the ICU, dishing out food for a local soup kitchen or walking a dog for a rescue organization, why not do a little good while retiring. And for some spouses out there, it may be hard to adjust from the business world, look and see if you can lend your experience to a start up.

The idea is to simply embrace this new chapter and look for ways to enjoy life.