Should You Go Without Now?
3 February 2009
Some people when nearing retirement think that they should go without in order to save more for retirement. Whether this is a good idea or not will depend on your particular circumstances. Here is something to consider, however.
If you are going without now in order to fund a similar level of living for longer, then you could consider it to be acclimatising to retirement. This isn't entirely unwise, as many people can struggle to bring their lifestyle into line with their retirement income.
If you are going without now in order to fund a more extravagant retirement, however, are you sure that this will be of the greatest benefit? Not taking holidays or going without luxuries while you are still working - is this affording you a better retirement or is it merely convincing you to retire sooner rather than later?
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