In this Episode of the Secure Your Retirement Podcast, Radon, Murs, and Taylor discuss in detail the importance of spending more in retirement as a savvy saver. Taylor provides a numerical analysis and insights into how spending habits in retirement can impact your financial plan in a scenario of a sample retired couple in their late 60s.

Listen in to learn the importance of aligning expenses with income sources and assets in retirement planning, considering inflation and the potential for increased expenses. You will also learn the importance of enjoying retirement and fulfilling bucket list items even when they require larger withdrawals.

In this episode, find out:

• A practical scenario of a retired couple’s income sources, assets, and spending habits.
• The steps we take our clients through when building a successful financial plan in retirement.
• The importance of aligning expenses with income sources and assets in retirement planning.
• Understanding strategies for accommodating increased spending in retirement.
• Why you should enjoy your retirement and fulfill bucket list items with occasional larger withdrawals.
• Don’t get caught up in the numbers; understand that income, assets, and expenses differ for different people.

Tweetable Quotes:

• “Our job is to bring comfort to the idea that every now and then you can take a larger withdrawal to satisfy a bucket list wish you’ve been putting off for so long.”- Murs Tariq
• "Although it may appear costly initially and impact retirement planning, ultimately, your efforts have led you to this point."- Murs Tariq
• “Do not get caught up in the numbers; your numbers are your numbers; the relationship between what you’re spending and what you have completely differs for different people.”- Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.