The 3 Phases Of Retirement: Go-Go, Slow-Go, No-Go

How much money will you need after you retire? Likely less than you might think. That’s from an article in the Financial Times.

People tend to spend more immediately after retiring as they check items off their bucket lists. Those are known as the ‘go-go years’. Then, as retirees get into their 70s, they become the ‘slow-go years’. You’re not (travelling) as much, you’ve been most places and the travel insurance is getting more expensive. When you get into your 80s, those are the ‘no-go years’, when retirees tend to stay close to home.

A recent Employee Benefit Research Institute study found that people in the United States who retired with more than $500,000 in savings, on average still had 88 per cent of it left 18 years after retirement. According to the experts, that’s too much. People should try to have about 60 per cent left at that time. As we age in retirement, we tend to lose the ability or the inclination to spend and so it keeps on building up.” The study found that even individuals with less than $200,000 in non-housing assets immediately after retirement still had 75 per cent of their cash assets 18 years later… which is great news for their heirs.

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