Hogwash describes a lot of what we have read about financial planning for retirement. I’ve read articles and completed calculators that say if we don’t have at least $1.5 million in the bank — forget retiring. (Gee, I wonder how the 96% of us who are not millionaires ever manage?)

I’ve also read that we’ll spend about 65-85% in retirement of what we spent before. More hogwash — certainly for the first 5-10 years of retirement. Many people spend MORE then. Continue reading “You need just 3 numbers to budget expenses for retirement” →