Building a Personal Budget for Retirement

Building a personal budget for retirement is the most important step to take before you retire.

Hopefully you are currently using a personal budget, which helps control debt, automatically pays monthly expenses (rent, phone, food, credit cards, etc.) and help you save for retirement.

Setting up a personal budget before retirement is important because you do not want to withdraw more than you need from your retirement accounts. Remember, you will need to be withdrawing funds for about 30 years during your golden age!

If you live near Austin, Texas, Capital Budget Strategies, LLC, Austin’s best Money Coach, can help you organize your finances. For only $149, we will sit down with you to determine your true net worth, create a personal budget, an emergency fund and set up a Snowball Debt Repayment Plan.

Our Austin Money Coaches come to your office, your home or any quiet place with a big table and a coffee machine. We come during the day, in the evening or even on weekends.

In retirement, financial professionals suggest living on about 75% of your final income. That might not be too hard because once you retire you will not be paying for retirement funds, commuting expenses, lunch out every day or so much dry cleaning.

Also, before you retire you will have your mortgage, vehicle, school loans and credit cards paid off, right?

It is also a good idea to give your retirement budget a “test drive” before you actually retire. Live off your retirement budget for a few months before retirement, just to make sure your estimates are correct. Remember, you can always adjust a personal budget!

If you will have trouble creating a personal budget or getting rid of debt before retirement, contact Capital Budget Strategies, LLC, Austin’s best Money Coach. We’ll help you “Win Your Retirement!”