Retirement Spending

Many people nearing retirement make the mistake of just “guessing” their retirement income needs rather than actually calculating what they’ll need to support their retirement spending. This is because many people don’t put enough thought into their financial needs when they are working, either.  However, given that you don’t have the income from a job to fall back on, this is a very serious matter. Many think that credit card limits can be treated as available money to spend the same as a paycheck is. However, during retirement, the ability to pay debt down becomes more difficult. This is why

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Best Places to Retire in 2024

We read an article recently examining more than 800 locations in America, comparing everything from housing costs to taxes to health care, air quality, and natural hazard risk. What they found were some of the best places to retire in 2024.  The town of Las Cruces, for example, a town of 116,000 people, has a median home price of only $284,000 (which is 28% under the national median).  Interestingly, their only choice down in Florida was Pensacola, a city of 53,000 with a median house price of just $262,000–the rest of sunny Florida apparently had too high of hurricane risks

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How Would You Answer the Question? 

Nobel laureate, the late Daniel Kahneman, proposed a question; “How does the experience of a loss compare with the experience of a gain?” There were four possible answers to choose from:  Which answer would you choose? Kahneman’s research study concluded that losses are twice as painful as gains are pleasurable:  “This phenomenon—known as loss aversion—suggests the pain we might feel from losing $100 is disproportionately more intense than the joy we would experience from gaining the same amount. One implication is that people tend to go to far greater lengths to avoid a loss than they would to rack up

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