Test Out Retirement and See How You Save
I just read an article that has an interesting suggestion in it called Test retirement: Cut expenses. I appreciate the thought of giving your spending habits a test drive by seeing how much money you’re able to not spend throughout a month. It sounds like a really good exercise.
A change in lifestyle can have a big effect on expenses - bigger than we realize. And this shows how difficult it is to plan for retirement.
The author, Jeff Brown, is using this test to see if he might be saving too much money for retirement, an idea I doubt is a big problem for most people. What happens if you end up with too much money for your retirement? You might want to celebrate—splurge a little. What do you do if you find out you haven’t saved enough? Splurging isn’t going to be an auction. Read the article here.
