Campbell Wealth Management - January 2019

How to Spend Wisely in Retirement MAKE YOUR SAVINGS LAST

When it comes to retirement and finances, there’s enough material about saving to fill a library. You see commercials on TV showing one tiny domino gradually becoming a massive tower, you hear advice from coworkers and family members, and you read books and articles on the

Of course, a level spending plan assumes that your financial needs won’t change over the course of your retirement. If you’re the type of person who regularly meets and exceeds your budgeting goals, you can probably make it work. If not, you may want to consider a plan that allocates more money with each passing year of retirement. In the event of increased medical costs or other later-life expenses, an escalating plan provides a financial safety net.

What to SpendOn

topic. Much less attention, however, is paid to how to spend those savings once you’re actually retired, even though it’s a significant part of the equation. After all, it doesn’t matter howmuch you save if you blow it all in a year. Here are a few considerations to keep inmind as you begin chipping away at that nest egg.

Some of your spending choices will come down to personal preference and interests, but you might be surprised to learn that one category of spending consistently proves more fulfilling than others. Professor Michael Finke of The American College surveyed nearly 1,500 retirees and found that spending money on leisure activities and experiences caused the lowest rate of regret. Finke calls this “social spending” and surmises that it’s favored because it encourages older adults to get out into the world and enjoy their retirements. There is no perfect plan for how to spend your savings during retirement. But there is one very wrong way to go about it, and that’s mindlessly. However you choose to spend your savings, make sure you have a plan.

HowMuch to Spend

The easiest way to budget for your retirement is with a level spending plan. In this system, you simply estimate howmany years your retirement will last and divide your savings by that number. It’s better to make a generous estimate rather than a conservative one. A survey of financial planners conducted by the American Institute of Certified Public Accountants (AICPA) found that outliving savings is the No. 1 concern of those approaching retirement. Underestimating your life span is an easy way for this fear to come true.

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Citrus and Avocado Salad

Starting onWeek 3, I cut out refined sugars. Week 5 phases out caffeine, alcohol, and artificial flavorings. Week 6 is about cutting out sugar-heavy fruits and vegetables, like carrots and sweet potatoes, and instead incorporating healthier, bitter greens, like kale, spinach, and collard greens. By the end of it all, I had cut out refined sugars, fake sugars, dairy, processed foods, rice, pasta, bread, and more. In their place, I’m eating more organic vegetables and lean proteins. It’s amazing to look back and see what I was putting in my body versus now. I’m very aware of what I’m eating and how I’m going to feel after I eat it. I feel better, I sleep better, my workouts are better, and I’ve lost weight. I know it’s easier said than done, but we all have our one body, and it’s important to treat it right. If you have any questions about the WildFit program or about setting goals for the new year, don’t hesitate to give me a call. Let’s make 2019 not only a great year but a healthy one, as well! With that, I hope that no matter what your goals are for the year, you’re off to a great start. Happy New Year! Kelly Campbell

Winter is the height of citrus season, so it’s a perfect time to experiment with oranges and lemons. Roasting the fruits concentrates their flavor and makes the skins edible, creating a blast of flavor for this winter salad.

Ingredients • 1 blood, cara cara, or navel orange, sliced 1/8-inch thick and deseeded • 1Meyer or regular lemon, sliced 1/8-inch thick and deseeded

• 2 tablespoons fresh lemon juice • 1 bunch arugula • 1/2 cup freshmint leaves • 1 avocado, cut into wedges • Salt and pepper, to taste

• 4 tablespoons olive oil, divided • 1/4 small red onion, thinly sliced Directions 1. Heat oven to 425 F. 2. In a rimmed baking sheet, toss citrus slices with 1 tablespoon oil and season with salt and pepper. Roast citrus until lightly charred and caramelized, about 10–15 minutes. Let cool. 3. Meanwhile, in a large mixing bowl, combine onion and lemon juice. Season with salt and let sit for 5 minutes. 4. Add citrus, arugula, and mint to onionmixture. Drizzle with remaining oil,

season with salt and pepper to taste, and toss thoroughly. 5. Add avocado, combing very gently to not crush avocado.

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