Discretionary and Essential: "Spending Plan" & Budgeting Tools
Do you have a spending plan?? My Spending: "Discretionary" vs "Essential"... During retirement, as with all phases of life, it is essential to understand the difference between discretionary "nice-to-have" and essential or fixed expenses as part of your budget. Photo: D. McCallister. Falls Creek, AK My Spending Plan " Making a budget or "spending plan" may not be the first thing you look forward to in retirement, but it's one of the most important things to do to assure that your retirement is on the right path. Along with an income plan that can deliver a steady "retirement paycheck" and an investing strategy that allows a portion of your nest egg the chance to grow, a realistic budget—based on all the sources of...