When you’re working, you’re preparing for retirement: your focus is largely on saving money, but once you retire, you might struggle to switch to a spending mindset. As a result, your retirement can be marred by money worries and fears of not having enough saved to last the rest of your life.
It is important to remember that the reason you are saving now is so you don’t need to worry about money in retirement. This CNBC article offers some tips on finding the ideal spending rate to help you avoid financial stress and still enjoy your post-work years.
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