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Reducing spending frees up money to save and reduces the amount you’ll need to accumulate for retirement,” said R.J. Weiss, a certified financial planner (CFP®) and CEO of The Ways to Wealth.
The first step to creating a realistic retirement budget is to review your current spending habits. This means looking at your monthly expenses and how much you spend in different areas of your life.
In addition to figuring out your monthly expenses with the help of a budget, creating a spending plan can help retirees track current expenditures. ... 6 Ways To Cut Costs for Your Retirement ...
“To help cut down on the costs of day-to-day spending, retirees should seriously consider cash-back credit cards,” advised Matt Miczulski, a personal finance expert and author with Finder.com.
However, if you drastically cut down on expenses by moving from an expensive city like New York to a rural town in Kentucky, then you might not need as much as 70% to 80% of your pre-retirement ...
A traditional, passive retirement is fine for some, but many retirees are looking to start exciting new chapters of their lives when they stop working. $1 Million or $5,000 a Month in Retirement:...
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