Savvy Spender
Live Well For Less

  • Blogroll Me!

    Retirement Will Be Great

    Monday, October 17, 2005
    I hope you have read some of the more recent articles about what not to fear about your retirement +/or the fact that many investment advisors are telling us to save much more than we will need(many people are leaving large sums to heirs) because they feel it is better to have more than to fall short. Also consider these facts:

    1. You will need much less money in retirement than you need now, even if you plan to travel and help your children/grandchildren. You will no longer pay into social security(6.2%), you will not pay whatever percentage you are paying now into a 401K plan, you will no longer have commuting fees(gas alone is a small fortune!), you will no longer have work attire, lunches out, chipping in for gifts, etc.!

    2. You will probably no longer have a mortgage or have only a small balance left to pay - that is normally one's biggest monthly expense.

    3. You will only have daily expenses for yourself/significant other - no teenagers to feed, for example!!!