Most people work hard and save a lot as a precaution for when the going gets tough. Saving money is a good habit, but in some cases one becomes so much inclined to saving that they feel guilty about spending or even viewing expenditure as extravagant. A good retirement strategy should include how to spend the amount one has stashed away.
Advice from David
David Giertz says that retirement should be a balance betwixt expenditure and savings. He illustrates how we should lead lives without forfeiting the chance to have fun during the golden years. Below are some pointers:
Discipline in retirement is crucial in minimizing waste and yet maximizing happiness and contentment. Some retirees may prefer touring the world; others may wish to spend time with their families while there are those who may prefer learning new skills. Whatever one chooses, let there be minimal extravagance.
In coming up with a retirement plan, the individuals ought not just to consider what they wish to bequeath their children, but also the activities they enjoyed but could not engage in due to a busy work schedule.
Budgeting is a key component for those retirees who are keen about proper expenditure. Budgets also help the retirees to consider wisely what they want to do and how much they want to spend without depleting their savings entirely. When this determination is made, it is easier to spend money without anxiety.
Finally, David advices retirees to spare cash for day to day bills. Many retirees commit all their money in the ‘stock market’ hence leaving themselves broke. Retirement should not be so difficult if one keeps these key points in mind.
David has worked in the financial sector as a vice president of ‘National Life Insurance Company’. He served as President of ‘Nationwide Financial Distributors Inc’. Between the years of 2009 and 2013, David was ‘Vice President of Sales at FI/WH’. He also had a similar position at NF between the years of 2004 and 2009.