Spending During Retirement: When to Invest in Yourself!

This video discusses a key issue when considering how to spend your savings and investments during your 50s and beyond - Anticipating how your health will impact your ability to undertake the activities you have planned to pursue once you have reached your post-work years, and when to anticipate spending down some of your savings and investments to undertake these activities. Planners call this the "Go-go, Slo-go, and No-go" phases, and they are based on a person's overall health and physical capacity during their later years. Keeping these phases in mind is important when mapping out your financial outlays during your post-work years. Consider working with a professional financial planner to get this right. Creating a detailed financial plan projecting your financial heath during your retirement years is key to being able to evaluate how much you can spend, and the impact of this spend on meeting your ongoing expenses. DISCLAIMER: This video is not to be considered financial advice. Meet with a professional financial advisor to create a plan based on your specific resources and needs. 00:00 Introduction 00:56 Mapping out your spending during retirement 01:53 What a financial plan can depict 03:27 Using a plan to see the impact of drawing down savings 04:53 Go-go, Slo-go, and No-go phases of retirement 06:12 Planning your spending during these phases If you like this kind of content, please like and subscribe to this video. We have a number of interesting videos currently in the works that you may find useful. 📌📌If you are interested in more news, advice, tools, and inspiration for thriving in your 50s and beyond, subscribe to our "Notes from the Road" newsletter where we crack the code of midlife: empty nests, retirement, health, and more (with just a little bit of travel thrown in). https://notes-from-the-road.beehiiv.com/ 📌📌 ___________________________________ 👨‍🦱👩‍🦰More about us:👨‍🦱👩‍🦰 https://www.89daysaway.com/about-us And in case you were wondering, our channel title "89 Days Away" refers to the EU Schengen limit of letting visitors stay 3 months (in the Schengen zone) during a visit—living away for 89 days before having to go home. If you want to stay away for longer, some other countries let you stay for 6 months, so you can put together an agenda that allows you to stay overseas as long as you need to get what you are looking for.