DO: Spend your retirement money on continued education and a personal trainer. DON'T: Keep over-supporting your adult children.
Knowing how to spend your retirement money is often harder and more confusing than knowing how to save it.
The 3 periods of retirement spending There is typically an initial three-to-five-year period of retirement “jubilation,” where many retirees overspend, often with more frequent travel as they start checking off their “bucket list” goals, Jenkin said. That’s usually followed by a longer period of “stabilization” — when spending normalizes for the next decade or so.
DO spend on learning. Continued education of any kind — from developing new professional skills to enhancing old ones — is almost always a positive way to spend retirement money, said Bryan. “If you’re expanding your knowledge, you’re going to have a more comfortable 80s,” she said.DO spend on relationship-building.
DO spend money on technology training. The cost will likely pay itself back many times over, said Jenkin. Keeping up with new technologies can ultimately save retirees money, time and frustration, he added.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Super Bowl commercials: The dos and don'ts of successful adsThe Super Bowl is the advertising industry's biggest stage. It's the one day when watching the commercials is every bit as central to the experience as what happens during the actual game.
Read more »
Tax Dos And Don’ts For New Gig WorkersNew to gig work? Experienced gig workers and tax pros shared some tips for dealing with taxes
Read more »
Tax Dos And Don’ts For New Gig WorkersNew to gig work? Experienced gig workers and tax pros shared some tips for dealing with taxes
Read more »
Bloomberg's Super Bowl commercial and his record-breaking ad spend - Business InsiderBloomberg's Super Bowl commercial is the crown jewel in a record ad campaign that's aired seven times more promotions than the previous top presidential spender
Read more »
Tom Brady Trolls Fans Worried About Retirement in Hulu Ad, Promises 'I'm Not Going Anywhere''They say all good things must come to an end, but the best just know when to walk away,' said Tom Brady in the commercial
Read more »