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Carrick on money: You’ll spend less than you think in retirement

Retired couple relaxing

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The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

You'll spend less than you think in retirement
But only after you spend more than you think, this article says. The reality is that retirees tend to spend heavily in the first few years, and then use steadily less money.

Here's a retiree's rebuttal to a blogger's post about needing $1-million in savings to retire comfortably.

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And here's a video hosted by personal finance writer Rubina Ahmed-Haq in which she talks to some retirees about how their frugal lifestyle helped them put enough away for a comfortable retirement. What's interesting here is that this couple didn't start saving for retirement until later in life.

Six ways to blow up your finances
Raiding your retirement accounts, living on credit and other ways people sabotage their financial future. It's a U.S. list, but totally relevant to us.

More money
Join the 36,000+ people who subscribe to my Facebook personal finance community for talk about investing, retirement, real estate, banking and other financial matters. I'm also on Twitter.

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About the Author
Personal Finance Columnist

Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998. Rob's personal finance columns appear in The Globe on Tuesday and Thursday, and his Portfolio Strategy column for investors appears on Saturday. More

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