On episode 12 of Your Financial Compass, Scott has some great advice for empty nesters. You might think your budget’s about to open up when the kids move out, but a recent study shows that parents don’t always end up with more money in their pockets. Scott explains the challenges of lifestyle inflation and gives some tips on where to invest those extra dollars if you’re able to stay disciplined.
But it’s not just about the money. Scott also talks about the softer side of retirement planning – creating a life plan for retirement and finding ways to spend your time that bring value to your life and those around you.
If you’re an empty nester or just getting ready for retirement, you don’t want to miss this episode.
Here’s some of what you will learn in this episode:
- Empty nesters and lifestyle inflation. Scott details some highlights of a recent study that finds that parents don’t always automatically have more money in their pockets just because the kids have left the home. (3:34)
- If you can stay disciplined, you should have additional money to save for retirement once the kids leave. Scott gives us some ideas on where you might want to invest those dollars. (8:45)
- What does a life plan for retirement look like? (11:40)
- Have you thought about how you’re going to spend your time in retirement in ways that bring value to your life and the lives of those around you? (14:00)
If you have any questions about what we discussed or anything else in your financial plan, email us at email@example.com.
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