Can You Save Too Much For Retirement?

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We spend a lot of time talking about how to save enough for retirement, but is there such a thing as saving too much? Some experts say that retirees will need 70-80% of their pre-retirement income to sustain a comfortable lifestyle, but recent studies show that many retirees are spending significantly less than these benchmarks.

Join us for a thought-provoking conversation on how spending habits can change as you age. We’ll talk about finding a balance between saving diligently for retirement and enjoying life’s experiences along the way.
Here’s some of what you will learn in this episode:

• Recent studies challenge the notion that retirees need 70-80% of their pre-retirement income to live comfortably in retirement.
• The importance of finding a balance between diligent retirement savings and enjoying life's experiences while in good health.
• Excessive savings in traditional retirement accounts could lead to substantial tax burdens in the future + the benefits of Roth accounts in managing taxes during retirement.
• The importance of personalized financial planning to ensure a secure and enjoyable retirement.

Links From Today's Show:
https://www.investopedia.com/articles/retirement/07/save_too_much.asp

https://finance.yahoo.com/news/saved-too-much-retirement-wish-120026207.html
WAYS TO CONNECT:
Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg
Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.
If you have any questions about what we discussed or anything else in your financial plan, email us at [e-mail]. You can also reach the team by phone at [phone].

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1. Can You Save Too Much For Retirement? (00:00:00)

2. Saving Too Much for Retirement? (00:00:03)

3. Tax Consequences of Saving Too Much (00:11:44)