Category Archives for Finance

A minimalist approach to your retirement spending

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Sometimes you need a budget. If you’re saving for a significant purchase or investment in the future, a budget is useful to keep track of how much you’re putting away. Take the amount you will need, divide by the number of months until you will need it, and you know how much to put aside each month.

Many people also track their overall spending, especially in retirement. The conventional budgeting process says to devote a certain percentage of your income to essential expenses like bills and insurance, a certain percentage to discretionary expenses like dining out and vacations, and a certain percentage to investing for future needs. If that’s you, then that’s great – more power to you. But if you’re not like that, there is another way to go.Continue reading