spend more, save less: new advice!
hey, if it's on the internet, it must be true. you are saving too much for retirement.
"Forget the idea that you need millions to retire comfortably, as some would have you believe. One expert says you'll need less money than you thought. What if you could bail out of your job years earlier than you thought? Or spend thousands of dollars more in retirement than you'd planned? What if you're actually saving too much for retirement, instead of not enough?
Traditional retirement planning assumes retirees' income needs will increase as they age, thanks to inflation. But most people actually spend less as they age. This is borne out by the U.S. Department of Labor's Consumer Expenditure Surveys, which show significant spending declines in every major category except health care as people age."
as long as bono retires before me, i would have to agree that my spending habits will in fact decrease when i get old.
peace.
"Forget the idea that you need millions to retire comfortably, as some would have you believe. One expert says you'll need less money than you thought. What if you could bail out of your job years earlier than you thought? Or spend thousands of dollars more in retirement than you'd planned? What if you're actually saving too much for retirement, instead of not enough?
Traditional retirement planning assumes retirees' income needs will increase as they age, thanks to inflation. But most people actually spend less as they age. This is borne out by the U.S. Department of Labor's Consumer Expenditure Surveys, which show significant spending declines in every major category except health care as people age."
as long as bono retires before me, i would have to agree that my spending habits will in fact decrease when i get old.
peace.
posted by c at 10:34 AM
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