It is natural for people to want to be more economical in their expenditure. David finds that the problem sometimes for people who retire with this attitude is that they are hardly spending anything or enjoying their hard earned money. They instead save almost every coin that comes their way. David advises on a spending plan so that retirees can reasonably reward themselves after years of work.
Advice from David
According to David, retirement should be a time when one does the things they always desired to do, but had little or no time to indulge. Retirement should not be a shopping spree, at the same time it ought not to be a pity party. Here are some of the suggestions that David Giertz gives:
Retirement plans are advisable for people about to retire and those already in retirement. In retirement, the idea is not just about what you are leaving behind for your children, but what hobby or practice you can catch up on after years of not engaging in a particular hobby or passion.
Budgeting cannot be overemphasized. A good budget ensures that you stay on course and that the limited savings stashed away is not spent on riotous living. When retirees have a budget, they are not scared to use and invest their money in other things. Without a budget the retirees tend to freeze at the thought of using their savings and this can deny them happiness in retirement.
Without discipline, all retirement savings can be wasted or invested inadvertently in curious projects to the detriment of the retiree. While some may opt to travel more others may wish to lay low and enjoy time with family. However one decides to use their savings, David advises discipline.
David is the vice president at ‘National Life Insurance Company’. He has worked in other leading companies including ‘Nationwide Financial Distributors Inc’. David worked at FI/WH as vice president responsible for sales. He was there from 2009 to 2013.