May 19, 2023
We’re coming into the 2023 PGA Championship Tour weekend, where the tournament really starts to get challenging. It’s important to keep in mind that retirement can be a lot like a long, challenging weekend, but if you’re prepared with a plan, it doesn’t have to be. Similar to how people tend to spend more money on the weekends than during the week, retirees often find themselves spending more money in retirement than they did during their working years.
This is partly because retirees generally have more free time to enjoy life's luxuries, such as travel, hobbies, and leisure activities. They may also be spending more on healthcare costs as they age, and potentially helping their adult children or grandchildren. All these expenses can add up quickly and impact retirement savings, to having and sticking to a balanced retirement plan is key.
It's essential to plan for these expenses and make sure you have a solid financial plan in place. That's where a meeting with a financial advisor comes in. An advisor can help you assess your future needs, create a budget, and set goals for your retirement.
They can also provide guidance on investment strategies that can help you meet your long-term financial objectives and protect your savings against inflation and market volatility. Plus, having a financial advisor can provide peace of mind knowing that your retirement plan is well thought out and backed by a professional.
Retirement is a long-term journey that requires careful planning and consideration. The earlier you start planning, the better off you'll be, but the second-best time to start is right now. So, take this opportunity to meet with a financial advisor to assess your future needs and create a solid plan for your retirement. With a little foresight and planning, you can make sure that your retirement is more than just a long weekend – it's a fulfilling and enjoyable period of your life.
Joshua Slish, Financial Advisor
E-Mail: jslish@brightonsecurities.com
Direct: 585.340.2209
https://www.kiplinger.com/retirement/602262/things-youll-spend-more-on-in-retirement