You Have Different Spending Habits
No matter how bulletproof your retirement savings plan might seem, even the smallest change can ruin it completely. For example, if you’ve made your retirement budget projections but discovered new hobbies or interests in retirement and are willing to spend more on them, expect some side effects.
“You might be a penny pincher now, but when you retire, that could all change,” said Neal Frankle, a certified financial planner and founder of the financial blog Wealth Pilgrim. “Shopping and eating out might become your way to remain social,” Frankle said.
What To Do
Just because you’re a retiree doesn’t mean you shouldn’t enjoy life. But you can find free and low-cost ways to stay active and in touch with others in retirement. “This is one great reason to join book clubs and volunteer in the community,” Frankle said. “They cost you nothing yet provide great interaction.”
Luckily, there are a lot of ways to keep yourself busy and entertained in your golden years. You can go for walks and explore nature or take advantage of free community events.
