Can You Make Your Retirement Dreams a Reality?
A little while back we related some statistics that show personal spending tends to go down over the long-term course of retirement. But for some people, usually right after they begin their retirement, their spending will actually increase – sometimes a lot. And that makes sense, as they begin to finally do the things they always wanted to do, now that they have the time to make it happen.
Of course, when spending goes up, it may mean that you’re relying on your portfolio to supply more of the money you need to meet your expenses. This is where having a withdrawal strategy – a spending strategy – becomes crucial. If your assets are not set up with the anticipation of a market downturn, you may find yourself in a world of hurt when you withdraw those funds.
Can you make your retirement dreams a reality? And what does it take to potentially see yourself through the next 30 years or more? It may be less complicated than you think. Find out more from “Professor” Rick Plum, CFP, on this week’s edition of Lucia Capital Group Weekly!
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