No Budget Needed

Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

In this episode, hear Tyler Emrick, CFA®, CFP®, discuss why meticulous budgeting isn’t necessary for most people approaching retirement. Discover how understanding your lifestyle spending and anticipating future changes can lead to more effective financial planning.

Learn about the "Retirement Spending Smile" concept and why focusing on your lifestyle expenses is more beneficial than a line-by-line budget. Plus, we’ll explore how your financial advisor should be helping you monitor spending against your goals.

Here’s some of what we discuss in this episode:

• The common perception of budgeting and why a detailed budget might not be necessary.
• What areas of your expenses should you be focused on?
• The importance of identifying and understanding the spending associated with your lifestyle.
• Anticipating how your lifestyle will change in retirement and how that will impact expenses.

Check out our interview with retirement researcher Dr. David Blanchett:

Part 1 - https://www.truewealthdesign.com/ep-101-interview-with-retirement-researcher-dr-david-blanchett-part-1/

Part 2 - https://www.truewealthdesign.com/ep-102-interview-with-retirement-researcher-dr-david-blanchett-part-2/

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

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