By Danielle Howard, CFP in MarketWatch
Danielle takes her plumbing metaphor a bit too far but provides sound advice on intentional money management in retirement. By which she means you need to pay attention to the little stuff, stop the small leaks before you find yourself with a depleted retirement reservoir.
Just as we take water for granted when it is plentiful, as your wealth grows, you can take those resources for granted, loosing the connection with what you have and your choices. You wind up not having as much as you could, wondering where it went, or even lamenting that you “never have enough.”
Moving into your fall season, or distribution years, it is important to reconnect your financial resources are and examine if you are using them wisely. The stock market and much of life is out of our control. But there are mind-sets and tools that are within your realm of authority. Take the helm on this journey where you can.