Are you also dreaming of a big trip in 2024? So many of us are and Christmas is often when we have the time to check out airfares, accommodation and take the plunge.
But how do you know if you can afford a big trip? How do you gain the confidence to spend when it’s difficult to judge how long your money will last?
These were the questions posed by Don when he caught up with Nicole. He was both pleased and surprised to learn that he could afford to indulge his dreams of an Italian adventure next year. Don was widowed two years ago and now feels ready to get back out into the world. He’s hoping a group tour in northern Italy will give him a very social adventure to look forward to. Here’s how he and Nicole approached this challenge and how he was able to reach a successful financial outcome.
Many people are under-spending in retirement, sacrificing their dreams and their lifestyle, only to end up sitting on a large nest egg wishing that they’d gone hiking in the Dolomites when they had the chance. A lot of this has to do with our mindset. Changing from a saving mindset (that has been ingrained in us since we were young), to a spending mindset is a much bigger leap than most people anticipate. But this change does occur as we move into retirement. So how can you become more confident in your decision-making?