More on the Money Tapa…
My two bits here may be useful to you whether you long career is
filling your days or is in your rear-view mirror.
I advocate making a spreadsheet of your income and spending. And be conservative: count income as though a bad year and expenses as though they’ll just never end. That way you won’t get caught short.
If you’re rich, not an issue; else, very useful.
On my Income spreadsheet, I have earnings from work and earnings from investments. One day, I expect I’ll also have income from Social Security, just not yet. And one day, I’ll have to take Required Minimum Distributions from my IRA/401(k) accounts every year, based on the IRS’s mortality tables.
My income’s lumpy, so I estimate a year at a time. My wife’s is steady, so that’s easy. I guess at investment income, beyond what’s clear.
Expenses in the next post!