Chapter 6

Managing Budgets and Expenses


check Coming to terms with common retirement money anxieties

check Figuring how much you can afford to spend from your nest egg

check Discovering how spending changes during retirement

check Understanding what to expect with your expenses and how to minimize them

By the time most people reach their retirement years, they’ve been managing money for several decades. That’s a good thing. Between the knowledge acquired over time and the valuable lessons learned in the school of hard knocks, people enter retirement a lot wiser and more money savvy than they were as young adults.

Making the most of your senior years and your money requires you to plan ahead and be prepared for some surprises. At the same time, you can learn from others’ experiences and put many worries to rest. This chapter looks at some potential fears you may have about entering retirement and helps you manage your expenses and spending throughout your retirement to make the transition as easy as possible.

Pointing Out Some Retirement Worries You May Have

What are the worries and fears ...

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