Yes prior planning prevents poor performance as they say.Completely agree.For me the bumpy expenses make the differences in retirement.
Say we spend 80K a year in retirement. Say we redo a roof on year one / spending is up 20%. Two years later we buy a used car. Ditto. Three years later we help kids out with a wedding for 20K. Kitchen redo later was 35K.
I think the answer is to build a spending plan that factors those type of lumpy expenses in with realistic expectations of what retirement will be like.
When I was ready to retire, we went through what expenses would be coming up, and made sure we had that amount outside of the amount we needed for normal spending.
Roof , HVAC, car replacement, some other home maintenance.
Statistics: Posted by Parkinglotracer — Mon Jun 17, 2024 6:24 am — Replies 24 — Views 2889