Family Budget

Money Matters

Family budgets, written financial action plans, are an essential part of the newly retired idividual's lifestyle. It doesn't matter whether we live an active lifestyle or a more sedate lifestyle, knowing where our financial resources are coming from and whether or not they are adequate to maintain our desired standard of living is crucial. We want to be able to foresee any bumps in the road that may require action.

Simply put, written financial action plans provide a way in which we can measure how well we are staying on track with our financial goals.

Retirees have access to several different financial resources, some of which may be a bit more risky than others. We will point out some of those resources that should be considered with caution and provide some additional resources and links on this and subsequent pages.

Along with being aware of where our financial resources are coming from, we need to also be aware of where our resources are going. We want to ensure that we are using our resources wisely and are achieving our goals.

While there are many good financial planning tools available, it is the intent of Rocking Chair Wisdom to provide a sample planning template and point out a few additional resources available for our use.

Now, let's look at the following as we build our action plan:

• Budgeting
• Financial Resources
• Our Spending Pattern

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