Monday, December 12th, 2011
There comes a time in life when you have to flick the spend/save switch from saving to spending. If you have been careful with your money during your working life, it can be hard to spend and watch your savings dwindle. Spend too much and you might run out of money; spend too little and it will be your children who get the benefit of your life savings.
There are three phases to retirement which each have different spending requirements:
Making the right decisions about how much to spend and when can be difficult. The three major risks to be considered are:
The best approach is to plan ahead as far as you can and steer the middle course of living in comfort rather than poverty or luxury.
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