I’ve come across two distinct clients recently who were experiencing identical issues. Both clients were single women on the cusp of retirement. And, as with almost every middle-class American, these two distinct clients faced an identical situation: They had not saved enough money. The simple (obvious?) solution to their savings shortfall was to downgrade their […]
retirement
Spend Less or Save More?
I was sitting in on a presentation by Nobel Laurette Robert Merton who made the comment that not saving enough money (insufficient savings) is the same thing as spending too much money. Given a fixed income, saving more money means spending less money. And spending less means saving more. Income = Spending + Savings So, telling […]