Message Font: Serif | Sans-Serif
No. of Recommendations: 0
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.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.