I had lunch with a good friend this week who is just six weeks from her retirement date. I am very excited for her. She planned on retiring in a few more months, but moved up her date because she has “had enough”. Unfortunately, she is a little concerned about her retirement nest egg – which could probably benefit from the extra few months pay.
This seems to be the classic retirement dilemma. People get close to their planned retirement date, but aren’t sure if they’ve done enough saving to get there. They look back on a lifetime’s earning and spending and wonder if all of the choices they’ve made over the decades were the wisest.
One trick that we’ve always used when it comes to making spending decisions is to apply the rule that “if you don’t know, don’t buy.” That is, don’t just spend money on things you are lukewarm on. Only spend your money on necessities and things that will bring you real joy. Here is an article that explores the concept in more detail. Very often our lives are much richer when we focus on ourselves and our time, and spend less money.
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