Buying a large house at this point is actually a bad idea. When your primary source of income has been cut off, you don't want to increase your spending at the same time.
If you spend a large sum of money on a round-the-world vacation for two immediately after retiring, you may jeopardize your future financial security.
You should always be generous with gifts of appreciation, but you should also be mindful of your own financial security when doing so.
You'll likely regret totally supporting your adult children or lavishing them with cash. You risk denying them independence and may need that money in your later years.
Having a comfortable car in retirement is totally sensible, but you'll have to weigh the prices against your budget.
When contemplating retirement, extra leisure time is one of the most anticipated benefits. However, if you lack financial discipline, your leisure time could cost you.
As a retiree, having enough insurance is a necessity. Overspending on insurance, on the other hand, is unwise and can deplete your savings account prematurely.
Retirees often regret buying a vacation house to spend time with friends and family. Second residences have worse tax repercussions.