Episode 2565

2565: [Part 2] Our Retirement Expenses: Where Does the Money Go? by Darrow Kirkpatrick of Can I Retire Yet on Budget Management

Darrow Kirkpatrick of CanIRetireYet.com shares insightful details on managing retirement expenses, emphasizing the significance of monitoring and adjusting spending patterns

Optimal Finance Daily - Financial Independence and Money Advice · Optimal Living Daily | Diania Merriam

December 26, 202311m 32s

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Show Notes

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Episode 2565:

Darrow Kirkpatrick of CanIRetireYet.com shares insightful details on managing retirement expenses, emphasizing the significance of monitoring and adjusting spending patterns. He highlights the importance of considering variable expenses like personal care, taxes, and housing costs, and addresses the practicality of adapting expenses in response to financial market changes.

Read along with the original article(s) here: https://www.caniretireyet.com/our-retirement-expenses-money-go/

Quotes to ponder:

"...with a willingness to cut spending when markets underperform, it is possible to increase the initial spending rate above whatever has been determined as safe for constant inflation-adjusted withdrawals."

Episode references:

Bill Perkins' book, "Die with Zero": Die With Zero

2021 survey by the Employee Benefit Research Institute (EBRI): EBRI 2021 Survey

National Institute on Retirement Security (NIRS) study: NIRS Study

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