As others have said, each situation is different. There is one thing you can do to take some of the mystery out of the process. Find out exactly where you are spending money now. Then identify the costs that will decrease or cease. Probably some costs will increase such as medical insurance, if your employer was paying part of the cost.While there may be some rule against naming specific products, I am going to run the risk of upseting the posting police. I find Quicken to be very good from tracking expenses. There is a related program named Quicken Financial Planner. This will actually transfer the amounts you spent on any Quicken category (like groceries as an example) into the financial plan. Then you can adjust that amount up or down. You can do a great deal about planning expenses (a car in 5 years) and income (Uncle Louis will die and leave a bundle).Finally many people view retirement as an all or nothing issue. There are many semi-retired people who enjoy second careers or part time work. If you have such options, this can greatly change the economic landscape.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra