The most common bit of personal financial advice you are likely to get throughout your working life is make sure you are saving for retirement. But Allison Schrager, writing for Quartz, suggests that that might be the easy part. We also have to plan for how we will spend the money we do save.
In retirement, your expenses are likely to change. You will spend more on healthcare, and less on things related to work, such as commuting and clothing. How you spend in retirement will determine how long your money will last, and whether or not you will need additional sources of income later in life.
For the full story, click here.