How to Transition to a Monthly Paycheck

For most of our working years I think it's safe to say just about all of us receive our checks weekly or every other week; and plan to pay our bills accordingly. Speaking for myself, while on Active Duty my wife and I designated the 1st's paycheck to the mortgage and the 15th's to our living expenses. Simple and easy to repeat; and I'd wager many others do something very similar.

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2 Financial Principles to Help you Survive Any Life Transition

Major life transitions, such as moving to a new city, becoming a parent, retiring, graduating from college or changing jobs, can be an exciting and invigorating part of life. Yet transitions, even happy ones, can be stressful and bring up mixed feelings, as well as get you feeling financially confused. Regardless of what life brings your way, I would like you to always remember these 2 principles:

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Doing the Flip: Saver to Retirement Spender

One of the biggest transitions in life is to go from worker to retiree, or from saver to spender (call it decumulation or spend downer if you like). Today I’m addressing an issue faced by those who have managed to save through most or all their working careers and now find it’s time to begin using some of their savings in consumption. After all, those savings, in most cases, are deferred income they put away into retirement accounts.

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Exit Strategy

Recently I've been receiving not so subtle reminders of how finite our lives are, and how much of a difference having a plan can make. I think we can all agree it's impossible to plan for every eventuality, but I also think we can all agree there is at least one exit we are all going to make - to the best of my knowledge nobody has found the secret to immortality in our present state (this is not meant as a religious or philosophical post).

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