Ep 315: How to Spend Your Money

My Smart Retirement

Spending habits determine much of the success you have during your working career and then into retirement. That’s why budgeting is always one of the first steps towards retirement.

But being a responsible spender is much easier said than done. Otherwise retirement planning and managing finances would be a breeze.

So how should you spend your money? Of course there’s never going to be a cookie-cutter approach that works for everyone because you will always know what’s best for yourself and your family but following the guidance we provide our clients will help you financially over time.

In this episode of the podcast, we’ll share eight different principles to bolster your life satisfactions from spending the money you’ve earned in manner that will make you feel as happy and content as possible. You might know about most or all of these things we discuss but it’s will still serve as a good reminder of what’s important.

Spending often determines how successful your retirement ends up being. That’s why we develop income plans to cover the expenses you expect to have each month. If you aren’t sure what Think about a typical day in your life and what that might look like in retirement. That will really help you get a better estimate on what expenses might look like and where you might be spending your money.

Check out the full episode or use the timestamps below to hear a specific segment.

1:34 – Why we’re talking about this today

4:00 – Smaller purchases

6:31 – Spending is a science

9:26 – Making sure experiences are broken up

9:50 – Exchange material goods for experiences

12:15 – Use your money to benefit others

14:22 – Overpriced protections

15:37 – ‘If You Can Dream It’ segment

21:11 – Delay gratification

24:08 – Consider how purchases my affect your daily life

For more, visit us online at http://flemingfinancialservices.com