Setting Your Retirement Assumptions: Costs

Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Education, Investmentmanagement, Saving, Self-improvement, Careerplanning, Retirement, Business, Lifeplanning, Investing, Retirementplanning, Financialplanning, Retirementpodcast

4.6 • 1.2K Ratings

🗓️ 13 May 2020

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the biggest assumptions you can make in retirement is in your spending. Spending is one of the greatest financial pieces of retirement planning. On this episode, we’re talking about spending. How do you track your spending? How do you know...

Transcript

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0:00.0	Some of the most important assumptions you're going to make in your retirement planning are your spending assumptions.
0:10.0	And that, my friend, is what we're going to talk about today on the Retirement Answerman Show.
0:17.0	My name is Roger Whitney. I am your host and this is the show dedicated to helping you not just survive retirement
0:24.8	we truly believe you can rock retirement especially if you are wise in the
0:29.9	assumptions you make in retirement.
0:32.6	So this is week two of a series on retirement assumptions.
0:36.9	And today we're going to dive into your spending assumptions,
0:41.5	which can be critical.
0:42.5	Spending in retirement is probably one of the biggest levers you have to have a great retirement
0:48.7	from a financial perspective.
0:50.3	In addition to that, we're going to answer some of your listener questions, but before we do any of that,
0:54.4	I want to get to some interesting news that may present you an opportunity. Just the other day I read a article by Jason Aeton, Aeten, a tech columnist at Inc magazine, and he talks about a study that IBM did on American
1:20.0	views and how they're changing as a result of the COVID-19 pandemic.
1:27.0	And according to this survey by IBM, 54% of Americans want to keep remote work as their primary mode of working.
1:37.9	People are digging working at home evidently.
1:40.8	70% say they'd like it to be at least an option. So remote work has been a
1:48.0	trend in industry for a while and it's had its fits and starts in terms of companies
1:55.2	becoming comfortable with workers working remotely and usually when there are
2:00.5	trends like this major events can happen that will accelerate
2:06.1	trends learning remotely as a result of the pandemic I think will be one of
2:11.2	them but I also think working remotely will be a trend that will be greatly accelerated as a result of the COVID-19 pandemic.
2:21.6	If you think about it, from an employee standpoint standpoint, yeah you got to deal with the kids and all that and learn a new rhythm of life. But you get to be at home, you don't have the commute, you don't have the drive, you don't have all the wasted time and
	...

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