Two emotions are likely to strike as retirement approaches: excitement and fear. Leaving the world of awakenings to pursue your own passions is liberating, but the apprehension of entering a new stage in life can also set in.

Consider doing a workout before you retire. This could involve managing two bank accounts, one for expenses that continue into retirement and one for expenses that end. Try to take longer vacations while you are working to confirm that the actual expenses meet your expectations. Keep in mind that some expenses will likely increase significantly as your free time increases.

Make sure you have a financial plan in place that allows you to have a fulfilling retirement. At Capital Wealth Advisory Group, our team can give you insight into a retirement income budget and plan that meets your needs and wants. For more information visit capitalwealthcares.com.

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