Spending, saving and investing for retirement -- how to put it all in perspective
When retirement is decades away — or even just a few years out — it can feel hard to save, especially when taking into consideration all of the short-term goals or desires there are in life.
This can be done by reviewing bank and credit card statements, and knowing exactly what income you have and what debts you need to pay. Then see what money, if any, you have left over to spend. Cheng and George Hobica, founder of Airfarewatchdog.com, spoke with MarketWatch during a session on Spending and Splurging, and discussed how to balance the luxury expenses with the necessities. What may be discretionary spending for some people, like to-go coffee or taxi rides, might seem like a necessity to others, so it comes down to what you value, Cheng said.
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