How to Develop and Implement a Strategic Plan for Your Retirement

In our post of September 25, 2019, we encouraged you to take responsibility for your own retirement.  In this post, we will build on our previous post by encouraging you to adopt and implement a strategic plan for your retirement.

How Do Expected End-of-Life Expenses Affect Your Current Recurring Expense Spending Budget?

One of our readers recently indicated that he was planning on using the proceeds from the sale of his home to fund several years of assisted living for spouse and himself when and if the need for such long-term care arose.  The reader wanted to know how to use our Actuarial Budget Calculator (ABC) to explore doing this, and how such a plan would affect their current recurring spending budget.  This post is a follow-up to our post of January 12, 2016 and addresses how you can use our ABCs to determine how your anticipated long-term care and bequest expenses will affect your current recurring expense spending budget.

“Big ERN” Discovers the Basic Actuarial Balance Equation

Thanks to one of our readers, Ian Holliday of the U.K., for letting us know that Karsten, a blogger at Early Retirement Now (with the nickname “Big ERN”) has made available a Google spreadsheet entitled EarlyRetirementNow Actuarial SWR Toolbox.    His new actuarial spreadsheet is very similar conceptually to the Actuarial Budget Calculators for single retirees and retired couples that we make available in this website.  He utilizes the Basic Actuarial Balance Equation and calculates the present values of assets and spending liabilities (using deterministic assumptions—no simulations) to develop a recurring expense spending budget “data point.”