Budgeting

Perhaps the biggest issue I see with clients retiring is their lack of a budget. Regardless of wealth, overspending creates more issues with the plan than most realize. Over spending leads to an inefficient financial plan as it breaches the original design from an investment and tax perspective, it also creates a higher probability of running out of money. More specifically, people have a tendancy to under estimate their 'variable expenses'. The link below can provide you with a guide to help budget and will seperate fixed and variable expenses.

 

Budget sheet (click here)