How You Can Avoid Overspending in Retirement
The biggest fear retirees have is outliving their money. Overspending in retirement is one of the main reasons why this could happen.
You might not know how much to pull from savings to make up your lost income. You might not know how long your savings will last. You might not know how much things will cost in the future.
But, what you do know, is that you just worked hard for 40 years and now you're finally done. You dreamed about retirement. You finally have the time to do the things YOU WANT TO DO. Shouldn't you get to spend those hard-earned dollars?
Retirement planning is a balancing act between enjoying it to the fullest, while not sacrificing your long-term security. Not overspending in retirement requires diligent planning and course corrections along the way.
In this week's video, Casey shares 2 tips to help you not overspend in retirement!
#retire #retirementstrategies #retirement #financialplanning
0:25 - Retirement factors
0:52 - Longevity Risk
1:21 - Distribution Rates
2:15 - Living off of the gains
3:18 - Risk tolerance/asset allocation
3:42 - 30-40 retirement horizon
Links:
https://www.kitces.com/blog/life-expe...
https://www.carsongroup.com/insights/...
https://mullooly.net/how-you-can-avoi...
Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. We act in a fiduciary capacity with our clients at all times.
Our family of investments advisors (Tom, and his three sons - Brendan, Tim and Casey) are all CFP® Professionals.
To our knowledge, WE ARE THE ONLY FAMILY firm - in the nation - with four fiduciary, fee-only investment advisors who all have earned CERTIFIED FINANCIAL PLANNER™ certification.
The "Mullooly Asset Show" answers questions and cover topics that YOU bring up.
Our topics and questions range from those brought up, or sent in, by our viewers.
Get in touch with us here:
Mullooly Asset Management, Inc.
1971 State Route 34
Wall Township, New Jersey 07719
Phone: 732-223-9000
Website: https://mullooly.net
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Email: [email protected]
None of the content on our videos, podcasts, website or social media should ever be considered to be investment advice, financial planning advice or a recommendation to buy or sell investments. Nor should our content be considered research. Please our website for complete details.
This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management.
We rely on fundamental and technical analysis. Neither fundamental or technical analysis can predict the future, both methods have flaws. Past performance is no guarantee of future outcomes. Any Point & Figure charts used have been provided by our good friends at Dorsey Wright & Associates
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