This part of your planning process is a critical piece of the puzzle. Many people fail to understand or appreciate this fully. The reality is that at a certain point in your life, your ability to generate income goes down. What would it take for you to continue your lifestyl? It is important to understand how far your finances will carry you through your later years.

Your lifestyle will depend on your finances. You will need to prepare for things that you have not done before. You have to plan what you can do and how best to budget yourself in a way that is sustainable. The hard part is planning what you can actually spend.

This is where we strongly suggest talking to a good financial planner. Your planner will be able to guide you through your situation. What you need is a full understanding of how much money you need to retire with dignity, in a way that you don’t outlive it.