If you are approaching retirement, it's likely a good idea to know how much you spend. When the last paycheck has been received, you're relying on your accumulated savings and portfolio to provide for your living expenses.
It's our experience that most folks don't really know what their personal burn rate is. If you want to make sure that your resources will outlast you, this is an important input.
With 2025 in the rearview mirror, you should soon receive your year end statements for your credit cards and bank accounts and this would be an ideal time to take a look and see what you spent your money on last year. This can provide a base line indication of your retirement expenses. We can compare this number to your financial assets and your current asset allocation and give you a pretty good idea of how long your portfolio will last in retirement.
This will provide a guideline of how much you can afford to spend without fear of running out.
Please reach out and schedule a call if we can help.